Analyst upgrades:

• Merriman upgraded Sunpower (NASDAQ: SPWRA) two levels to Buy from Sell after transitioning coverage. The firm believes Sunpower is emerging from the current recession as the CleanTech leader and has a $38-$48 price range on shares.
• Citigroup upgraded Varian Medical (NYSE: VAR) to Buy from hold as it believes capex pressure and health care reform uncertainty is priced into shares, and demand will return as hospital budgets stabilize. Citi raised its target on shares to $45 from $36.
• FBR Capital upgraded Gap (NYSE: GPS) to Outperform from Market Perform following the Q2 results to reflect product improvement and ongoing inventory control. The firm raised its target on shares to $24 from $18.
• Schnitzer Steel (NASDAQ: SCHN) was upgraded to Neutral from Sell at UBS.
• UDR Inc. (NYSE: UDR) was upgraded to Market Perform from Underperform at Wells Fargo.
• The Buckle (NYSE: BKE) was upgraded to Buy from Hold at Roth Capital.

Armored vehicle maker Force Protection (NASDAQ: FRPT) has been slammed down to the single digits on fears that its sole product might be on the way out because of cuts in government spending. Who knows? The CEO says the company is doing fine, but the downtrending stock price is much more convincing. If the stock price is meant to make up lost ground, it should have no problem breaking out past $6, which it has not been able to do for the past few months. I'd avoid until the stock shows some strength.

Within the past few days, IDM Pharmacueticals (NASDAQ: IDMI) has had a huge run-up from under $1 to nearly $4 and a substantial drop to just under $2 -- all due to some positive drug news that was already known since November 2007, and of course the CEO's optimism about European approval. Do I believe the CEO? Yeah right! My distrust of CEOs is dwarfed only by my distrust of biotech CEOs! This company is not in the same league as other recently hot biotechs like Savient Pharmaceuticals (NASDAQ: SVNT) and Rigel Pharmaceuticals (NASDAQ: RIGL). Avoid, with a short bias on any spikes.

When I wrote this article about A-Power Generation Systems (NASDAQ: APWR), all the variables were aligned for a great run-up. I wanted to hold, but the volume and share price didn't live up to my expectations, so I sold quickly. Now, this company, potentially the new First Solar (NASDAQ: FSLR) of wind energy, has nearly retraced to its original breakout area around $15, so the risk has gone down ... but so has the reward. If you're a long-term investor, this is a solid choice, but I need it to break its previous highs at $19 to make me a buyer again. Avoid, with a long bias if it breaks out.