Hansen Natural (HANS) was one of last year's big winners. The company's high-powered sodas powered the stock to bubbly heights. But the stock is coming off of its caffeinated highs.

HANS was up by well over 1,000% between 2005 and last year. It was one of the momentum favorites in the market. But like all other parabolic rises, the run has come to an end.

The bursting of the HANS bubble is due to two factors that I can find: increased competition and costs. Late last year, I noticed more and more highly caffeinated sodas showing up in grocery stores and gas stations. Clearly more companies are capitalizing on the caffeine craze, which is hurting Hansen's margins. Also, rising commodity prices are pressuring the company, especially corn and aluminum prices.

The increasing pressure on margins means that HANS has further to fall. The bearish wedge in the stock confirms as much. A series of lower highs combined with a breakdown below horizontal support at $37.50 point to further downside in HANS.

The Dow Jones Industrial Average ($INDU) is up by about 800 points from its recent lows. Naturally the bottom callers are out in full force across various financial media outlets. But I want you to stay vigilant in your risk management.

There are some bullish elements falling into place, like the drops in the VIX and Japanese yen, oversold readings in broad market oscillators, and all sorts of government bailouts. There are, however, plenty of risks remaining in the financial system.

I think a smart way to approach the market over the next few weeks is to buy strong stocks on dips, or pullbacks, and then take profits rather quickly. Stocks like Wal-Mart (WMT) and Cisco Systems (CSCO) come to mind.

When analyzing the market over the coming weeks, keep close watch of the Dow as it approaches 12,750. I paid a lot of attention to this level on the way down and so did many other traders. The level should be of equal importance on the way back up, but this time 12,750 should serve as resistance. A break of 12,750 should prolong the buy on the dip strategy, so watch for such a break later this week or next.

There's always a bull market somewhere. We've found several in energy, agriculture, and retail.

Origin Agritech (SEED) - Bullish Triangle

SEED is a small cap that's been extremely volatile. The ups and downs in the stock have formed a triangle over the last five months. Look for a break above $9 to potentially lead to a bigger breakout from the triangle.

Potash (POT) - Bullish Flag

We've been bullish on POT for years and haven't wavered one bit. This has been one money making stock. It's breaking out above $150 today, which has been horizontal resistance for the past eight weeks.

Chesapeake Energy (CHK) - Bullish Flag

CHK has been consolidating for the last four months. It looks like the stock is ready to run higher again. CHK could make it to $50 in the short-term.

Urban Outfitters (URBN) - Bullish Flag

Not all retail stocks are getting hammered in this bear market. URBN is thriving, hitting a new 52-week high today. Look for previous resistance at $29 to serve as support.

Bull flags are pretty rare in this bear market. But we found one in the semiconductor sector.

Take a look at the breakout from the bull flag in Cree (CREE) today. The stock is trading extremely well for being in the semiconductor sector, which has been just hammered in the last six months.

The three month trend and bull flag look good, but be mindful of CREE's 52-week high at $34.87. The stock might pause at this level. A breakout above the 52-week high, of course, would serve as confirmation of the short-term trend.

When looking for bearish trades in this market, try not to over complicate the process. Stick with the consistent trends like the one in the China 25 iShares (FXI).

The FXI has traced another bearish continuation pattern. Most recently, the FXI formed a bearish wedge. The breakdown point is at $134. A price target for the FXI is $118.

U.S. non farm payrolls dropped by by 17,000 jobs in January, the first drop in over four years. Curiously, consumer sensitive stocks are shrugging off the news.

Maybe the drop in payrolls is confirmation of another Fed rate cut; therefore, the payrolls number is one of those bad news is good news situations.

Or maybe the deeply oversold condition of the market negates the lousy economic news.

Whatever the cause, consumer sensitive stocks are hanging tough today. The two groups of stocks that we've been overly bullish on are doing quite well:

• Housing (XHB) + 1.75 %
• Retail (RTH) -0.10 %

Wal-Mart (WMT) is even up on the day, hanging on to the $51 level.