Getting antsy because of this go-nowhere market? You can hit the snooze button for the time being - there's really not a lot that's worth latching onto right now. I've got the details of the market's stagnation (and what it will take to really break out of the cage) below.  On the other hand, I have found a juicy stock pick.... two of them actually.  And as always, we'll hit the highlights from the community. On the table this week are EQ Labs (EQLB), Banner Corporation (BANR), Cardium Therapeutics (CXM), and a potentially bearish view of gold, just to name a few.    Stuck In the Middle With You Did you know you were stuck in the middle? Perhaps you didn't look at it in that way, but if you've been reading our commentary for any length of time at all, then you'll know the market is trapped in a range. In fact, now it's trapped within an even-smaller range inside the bigger range.  I'm not even going to go back into the discussion about the S&P 500's support at 1040 and resistance at 1130. That zone's been in place since May, and is still well intact. It's marked on the chart (blue); enough said. More recently though, the S&P 500 has stalled - again -as it's re-approached the 200-day moving average line (green). To its credit, the index has hurdled the 100-day line... a line that had been a problem before. Of the two though, the 200-day average line at 1115 is the more meaningful.  On the flipside, I think we can reasonably say the 1080-ish area (orange) is a floor, even if it's yet to be confirmed as such. You'll find the 20-day and 50-day moving averages near there, but it's also the midpoint of the bigger 1010/1130 range. [Indices have a way of using precise halves and thirds of ranges as minor support and resistance levels.] So what? The 'so what' is simply to not try to squeeze blood from a turnip.  Frankly, this is a time we should all be in a holding pattern, waiting for the market to make a decision. Just hoping or guessing we're headed somewhere without actually having a good reason to expect such a move is, well, dangerous. The 1080 and 1115 marks are your first milestones; the 1040 and 1130 boundaries will only matter if we can break free of the near-term shackles.    Picks O' the Week I've been trying to steer clear of making individual pick recommendations here in the newsletter, for a lot of reasons. The biggest reason is simply that there are tons of stock trading ideas publicly available in the community (including mine), and to use the newsletter's space for something you can find somewhere else may not be the best use of the real estate.  So, the fact that I'm using newsletter space anyway to offer a couple of ideas today should tell you how well I like them. (And yes, I fully see the irony of me picking stocks just after I said the market was trapped in a range; I think these two tickers have enough fuel to drive themselves out of the market's malaise.) The first one is Biogen Idec (NASDAQ:BIIB), and yes, that's a monthly chart you see nearby. I opted for the long timeframe to really illustrate the ebb/flow pattern we've seen from this biotech's chart over the last few years - a pattern I expect to carry BIIB higher by anywhere from 20 to 40 points over the next few months. In fact, the rebound effort has already started with the push off the rising support line (blue). And, this pattern was in place even for the part of the chart you can't see.  What's so compelling about Biogen Idec isn't the chart though - it's the fundamentals. Biogen is one of those strange biotech companies that's actually profitable, and should continue to be so in the future. Heck, with a trailing P/E of 14.6 and a projected one of 11.3, it's priced like a value stock even though earnings have been consistently growing at well over 20%.  The second pick is Cadence Design Systems (NASDAQ:CDNS) - a developer of automation software and hardware.  On a look-back basis, Cadence isn't much to look at. Big losses, and declining revenue. The last four quarters though, when looked at sequentially, actually show a clear transition from living in the red to dipping back into the black ink. Though many doubt the forecasted P/E (for 2011) of 21.7 is achievable, after four straight earnings 'beats', I'm actually inclined to think the outlook isn't optimistic enough. Chart-wise, some of you will want to wait until April's peak of $7.68 is cleared before diving in; others will not. Either way, the strong buying interest and string of higher lows is undeniable.  Anyway, there they are. As usual, all the normal disclaimers apply... no guarantees, may or may not be appropriate for you, talk to a financial advisors familiar with your specific situation - you get the idea. They're at least worth mulling no matter what though. I'll be adding both of them to my public portfolio later today.  Helping you get more out of the market, James Brumley Editor - Small Cap Network    From the Community - New Commentary -  More Good News From Cardium Therapeutics  We thank Biagio R. Rao for giving us the latest on Cardium Therapeutics Inc. (NYSE:CXM). While most are familiar with its wound treatment currently being reviewed by the FDA, you may not realize there are other profit centers for the company (like its OTC foot care line). Rao offers a brief by complete overview here.  At the Top of Their Game? DAKT, BANR, RDWR Wonder why the Board of Directors for Banner Corporation (NASDAQ:BANR) are buying up shares at an accelerated rate? Dennis Askew asks the same question, though the obvious answer is also apt to be the right one. Banner hasn't been a healthy stock this year, but the recent perkiness may be an omen.  Precious Metals Equity Index Form a Triple Top, What's Next? While nearly everyone else is calling for gold to continue its incredible rally, Chris Vermeulen has noticed something about the Gold Bugs Index (HUI) that should be very alarming. You've got to check out this chart if own - or are thinking about owning - gold.  Before You Dabble... Looks at LQMT, EQLB, and VKNG It's been a long time in the coming, but EQ Labs Inc. (PINK:EQLB) finally appears to be out of the bearish rut an on its way higher. Since James Brumley posed this possibility on Thursday, EQLB has since move up and above that critical 200-day moving average line. It may well have been the last straw.  An Optimists Dream Come True? CRXX, QLTY, BMTI To say BioMimetic Therapeutics, Inc. (NASDAQ:BMTI) is on the cutting edge of bone therapy would be an understatement, yet it's still pushing the envelope. The company - which specializes in regenerative protein therapies - could receive approval for its Augment Bone Graft (open fracture treatment) by fall of 2011. .  - New Trades -  Male Retail Not Looking Strong, Short Casual Male Retail Group, Inc. (Nasdaq:CMRG):Jason Okamoto is off to a great start with this bearish call on the specialty retailer.  Buy Long Axis Capital Holdings Ltd. (NYSE: AXS): Scott Brown in Axis Capital; if the ceiling at $32.30 can be broken, this one should take flight fast.  Locking KeyCorp (NYSE: KEY) In: Mark Kingston has scooped up this bank stock after pushing off a trading range's support line around $7.15; it may be pulling out of the rut here.  No Risk, No Reward - Alliance Data Systems Corporation (NYSE: ADS) Long: Don Henderson went bottom fishing with ADS, and it looks like he may have caught a perfectly-timed big one.    We Value Your Feedback Got comments, questions or suggestions? 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