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Northern Oil and Gas, Inc. (NOG), one of my favorite junior oils for quite awhile, today jumped $1 and may have moved out of the apex of the big coil it’s been setting up. It appears that after a beautiful long-term rising channel that this stock can continue higher. The shorter-term channel has a top around the 20 range, and so 20–20 1/2 thereabouts is my short-term trading target.

Silicon Motion Technology Corp. (SIMO), a former portfolio position, which we sold on a spike-up in the 6.38 zone, pulled back for three weeks, formed a beautiful consolidation range, and then broke out of it today, with a spike up 94 cents or 17% on heavy volume. It appears that this stock may be able to reach the top of the channel up around 7 3/4 – 8 zone, my short-term trading target.

SORL Auto Parts, Inc. (SORL), a new portfolio position, which we added on the pop today, gapped up a little bit, increased in volume, and appears to be breaking out of a basing type pattern and it’s formed a new rising channel. The next test around 12.90, my short-term trading target. Beyond that something around 14.

Other stocks on Harry’s Charts of the Day are Acme Packet, Inc. (APKT), Bringham Exploration (BEXP), Comstock Homebuilding Companies Inc. (CHCI), Celldex Therapeutics (CLDX), City Telecom HK (CTEL), Keryx Biopharmaceuticals (KERX), PROLOR Biotech, Inc. (PBTH), Power-One Inc. (PWER), Raptor Pharmaceuticals Corp. (RPTP).

All of those ideas are on the long side. The market today showed it resiliency and failed to follow-through to the downside reversing back up more than 150 points on the Dow. The next couple days are going to be very important to the trend but we’re going to continue to play them long until they decidedly turn negative.