First up is Noven Pharmaceuticals (NOVN- On Thursday Noven announced that U.S. regulators tentatively approved its experimental drug, Stavzor, which treats bipolar disorder, epilepsy migraine headaches. Despite this major piece of positive news, Noven shares actually finished down on Thursday by 1.5%-- Near its 52-week and with a short position of 10%, $75MM in cash and $0 debt, Noven is poised to move much higher now that the FDA has hinted that it will approve its drug.

Next up is EMC (EMC)—Which is down over 30% from its high in October of $25 a share. Despite its insanely cheap valuations compared with VMware (which it owns 86% of) there are some concerns regarding EMC’s financial services industry business. However, Oracle’s very bullish earnings two weeks ago is a big positive for the sector. Their strength from the financial services industry negates the concerns that Cisco Systems had previously reported. This can be directly extrapolated as a positive for EMC given the percentage of their business in that area. Last week EMC bought Document Sciences (DOCS) for $85 million dollars. EMC has $5.5 billion in total cash so this is a relatively small buy for them. Also, management has a proven track record as they bought VMware for $600 million in 2003; currently VMware is worth $35 billion. With a $2 billion buyback, double digit earnings growth since 2002 EMC is one of the cheapest going into earnings season.

Last week Bill Ackman said that his hedge fund owned 9.9% of TGT and that he started a special $2BB fund just for shares of TGT. After popping 4% higher on the news, shares finished the week flat. The market is letting you piggyback off Ackman.

A few weeks ago HBIO got a bid-- The scientific instruments maker rejected Skystone Advisors' offer to take the company private for $5 a share in cash, saying the offer undervalues the company and is not in the best interest of the shareholders because Harvard Bioscience. This seems like an intersting play.

With New Years right around the corner, many Americans #1 resolution will be to lose weight. With 60% of Americans technically considered obese vs their “ideal weight” this leads me to my NutriSystems (NTRI)-- NutriSystems has had major issues regarding its patient of its weight lose drug, the company has guided down multiple times and has a massive short position of almost 60% (20% higher than that of Dendreon, which appeared I wrote about back in June) Many hedge funds are betting against NutriSystems with valid cuase. However, the company just issued a $100 million dollar buyback, has $200 million in cash and $0 debt

Triggered by our 3x2 system, shares of Yahoo are trading at the lower range and may move higher in the near-term.

NLY just upped its yield—This will force high yielding mutual funds to buy into NLY. On an operations point of view, NLY is best positioned to soak up all of the horrible mortgage paper at dirt cheap valuations.

Pure play off MTW-- Shares started to rally the past week or so and could trade back to $70ish level