I know it was only a few days ago I last looked at Keryx Biopharmaceuticals (NASDAQ:KERX), but a lot's happened in the meantime, and an update is merited.
In simplest terms, KERX has surpassed another big milestone - the 50-day moving average line (purple). Moreover, since our last look at this small cap stock from July 14th (when we went bullish based on the move above a key resistance line (blue), and the [at the time] attack on the 20-day and 100-day moving averages) we've seen a string of higher lows, and now, higher highs.... enough to press the stock above the last of its potential ceilings.
The only red flag I see waving with Keryx Biopharmaceuticals is the lack of volume behind the move higher. If it doesn't materialize soon, then this thing could peter out pretty quickly. I'm betting the buyers start to show up after today though. 
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I wouldn't have guessed this three months ago, but China Direct Industries, Inc. (NASDAQ:CDII) has become a pretty good 'trading' stock....meaning you can reliably swing trade it in both directions. For instance, with my last look at it from May 19th (when CDII was trading at $1.45), I suggested this small cap was going to keep tumbling after a break under a major support line. My target price of $1.20 was hit about three weeks later.
In any case, the reason I bring up China Direct Industries is the opposite reason.... a bullish one. Over the last three weeks we've seen this! small c ap form a nice, slow, U-shaped reversal (aka the kind that 'stick') with some help from support at the $1.20 mark. I expect it to keep getting bullish traction. Target-wise, I'd shoot for $2-ish. just watch out for the 200-day line (green) around $1.48. 
And finally, a bearish look at DG FastChannel Inc. (NASDAQ:DGIT)....
I'll be honest - I don't even really care that this small cap is down 9% today. Oh, it's certainly no step in the right direction, but we've seen worse dips, many of which are temporary. No, it's not the size and nature of the move that bugs me.... the way it all shaped up.
See, what we're seeing from DG FastChannel shares today is an outside day reversal... the most abrupt intra-day change of heart one can witness, where the opening price is above the prior (bullish) day's entire range, and the close (were DGIT to stop trading right now) under the prior day's low. To see this one occur around a prior high (blue) while the stock's overbought anyway is doubly damning. The strong ceiling volume is the kicker.
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