Editor's Note:

Headlines from the Korean border and a potential meltdown in Ireland was not enough to kill the rally. Overall stocks were content to consolidate sideways, although financials continued to underperform.

-James


Closed Plays


None. No closed plays this week


Play Updates


Arch Coal Inc. - ACI - close: 29.50

11/27 update: It was a quiet week for ACI. Shares consolidated sideways. The stock opened at $30.15 on Monday morning. I don't see any changes from my prior comments. We can open positions now or patient investors can wait for a dip toward $28.00 to launch positions. ACI should find decent support in the $28-27 zone. Our time frame is twelve months and we're setting our first target at $39.75.

- Current Positions -
Nov 22, 2010 - entry price on ACI @ 30.15, option @ 3.90
symbol: ACI1221A35 2012 JAN $35 call - current bid/ask $ 3.45/ 3.55

- or -

Nov 22, 2010 - entry price on ACI @ 30.15, option @ 5.15
symbol: ACI1319A35 2013 JAN $35 call - current bid/ask $ 5.25/ 5.70

11/22/10 Play opened. ACI @ $30.15

Current Target: $39.75
Current Stop loss: 26.75
Play Entered on: 11/22/10
Originally listed in the New Plays 11/20/10


Akamai Technology - AKAM - close: 51.53

11/27 update: The rebound continued for AKAM last week. Shares did breakout past short-term resistance at $50.00 and the trend here is positive. Checking the news there were a few articles this week on AKAM's potential growth in government contracts for their services, which may have helped fuel the bullish sentiment.

Please note I am raising our stop loss to $43.75. AKAM would have to see a 15% correction before we get stopped out.

Previous Comments:
We have already taken profits on our 2011 calls. That leaves the 2012 calls. Our second, longer-term target is $59.75. FYI: AKAM has seen some takeover chatter in the last several months.

- Current Positions -
Oct 06, 2010 - entry price on AKAM @ 45.50, option @ 7.50
symbol: AKAM1221A50 2012 JAN $50 call - current bid/ask $10.70/10.90

11/27/10 New stop @ 43.75
10/30/10 Sell the 2011 Jan. calls, option bid @ 5.10 (+78.9%)
10/06/10 Play triggered when AKAM hit $45.50

Current Target: $59.75
Current Stop loss: 43.75
Play Entered on: 10/06/10
Originally listed on the Watch List 10/02/10


Baidu, Inc. (Baidu.com) - BIDU - close: 109.37

11/27 update: The volatility in BIDU mellowed a little bit last week. Shares were consolidating sideways under new resistance at $110. If you look hard enough at the chart you can see that BIDU is still trading with a bullish trend of higher lows, which means traders are still willing to buy the dips. I am not suggesting new positions at this time. Readers may want to consider raising their stop loss. Currently our stop is at $94.00.

Previous Comments:
BIDU is a very volatile stock. This is an aggressive, higher-risk trade. Keep your position size small to limit your risk. We have already taken profits on the 2011 calls.

- Current Positions -
Only one position left.

Aug 02, 2010 - entry price on BIDU @ 83.50, option @ 13.00
symbol: BIDU1221A100 2012 JAN $100 call - current bid/ask $28.30/29.00

10/30/10 Adjusted exit to $129.00.
10/23/10 New stop loss @ 94.00
10/21/10 BIDU reports strong earnings.
10/02/10 Sell half of 2012 calls, BIDU @ 98.80, option @ 22.30 (+71.5%)
09/25/10 Take Profits on the 2011 calls, BIDU @ 97.83, option @ 14.75 (+84.3%)
09/25/10 New stop @ 79.00

Current Target: $129.00
Current Stop loss: 94.00
Play Entered on: 08/02/10
Originally listed on the Watch List 07/31/10


Berkshire Hathaway - BRK.B - close: 79.76

11/27 update: Hmm... things are not looking that great for our BRK.B play. The stock has been slowly sinking under a trend of lower highs and lower lows. Shares did bounce from support near $79.00 but the rebound didn't get very far. You can easily see the short-term overhead resistance at the 10-dma. Plus BRK.B is poised to breakdown under its simple 200-dma. If this trend continues readers may want to consider an early exit if BRK.B closes under $79.00 or $78.00. I am not suggesting new positions at this time. Let's wait and see if BRK.B can recover and close over $81.00 or $82.00 before considering bullish positions again. I will repeat my earlier comments that readers might want to raise their stops toward $78.00.

- Current Positions -
Oct 29, 2010 - entry price on BRK.B @ 79.00, option @ 1.25
symbol: BRKB1122A85 2011 JAN $85 call - current bid/ask $ 0.50/ 0.55

- or -

Oct 29, 2010 - entry price on BRK.B @ 79.00, option @ 5.00
symbol: BRKB1221A90 2012 JAN $90 call - current bid/ask $ 4.40/ 4.55

11/20/10 New entry point on bounce from 200-dma
11/20/10 New stop @ 75.75
10/29/10 Play triggered on dip at $79.00.

Current Target: $ 99.00
Current Stop loss: 75.75
Play Entered on: 10/29/10
Originally listed on the Watch List 09/11/10


ConocoPhillips - COP - close: 60.81

11/27 update: The energy sector spent its second week consolidating after its impressive September through early November run up. COP's performance is very similar to the OIX oil index. Shares of COP are nearing round-number support at $60.00. If this level breaks I would look for a drop toward the $58.00-57.50 zone. The 100-dma might offer some additional support. I am not suggesting new bullish positions at this time.

Prior Comments:
We have already taken profits on the 2011 calls. That leaves the 2012 call position and our long-term target is $69.00.

- Current Positions -
May 20, 2010 - entry price on COP @ 51.00, option @ 4.75
symbol: COP 11A55.00 2012 JAN $60 call - current bid/ask $6.50/6.65

10/23/10 Exit the 2011 Jan. $55 calls @ 7.05 (+88%)
10/23/10 New stop loss @ 54.85
10/11/10 New stop loss @ 51.90
09/04/10 COP gave us a new entry with the move over $54.00
07/17/10 COP's bounce has failed. Consider an early exit!
07/03/10 More Conservative traders may want to exit early!

Current Target: $ 69.00
Current Stop loss: 54.85
Play Entered on: 05/20/10
Originally listed on the Watch List 05/08/10


Deere & Co - DE - close: 76.00

11/27 update: We have had our eye on DE for a couple of months. Shares dipped toward technical support near $75.00 and its rising 50-dma on Friday, November 26th and managed to hit our trigger ($75.50) opening this trade. The stock does look a little overbought here and the plan was to use very small positions to limit our risk. Currently we have a stop loss at $73.45. More conservative traders could tighten theirs even further toward $75.00. If you're looking for a new entry point you may want to wait for a close over $77.50, which would confirm the up trend. I'm setting our first target at $88.00 and our final target at $94.00 near DE's all-time highs.

- Current (very small) Positions -
Nov 26, 2010 - entry price on DE @ 75.50, option @ 4.75
symbol: DE1221A90 2012 JAN $90 call - current bid/ask $4.65/4.80

11/26/10 DE hit our trigger @ 75.50

Chart of DE:

Current Target: $ 88.00, 94.00
Current Stop loss: 73.45
Play Entered on: 11/26/10
Originally listed on the Watch List --/--/--


Walt Disney Co. - DIS - close: 36.70

11/27 update: On a short-term basis DIS looks vulnerable. The stock has been struggling with new resistance near $37.00. Of course a little profit taking would be okay. We could use a dip toward $35.50-35.00 as a new entry point to buy call LEAPS. Although we may not see the pull back. I suspect that stocks like DIS could rally as we get good news on the amount of Black Friday traffic at the malls.

- Current Positions -
Oct 27, 2010 - entry price on DIS @ 35.60, option @ 2.23
symbol: DIS1221A40 2012 JAN $40 call - current bid/ask $ 2.65/ 2.72

- or -

Oct 27, 2010 - entry price on DIS @ 35.60, option @ 3.63
symbol: DIS1319A40 2013 JAN $40 call - current bid/ask $ 4.05/ 4.25

10/27/10 Play opened, DIS opened @ $35.60

Current Target(s): $42.00
Current Stop loss: 32.75
Play Entered on: 10/27/10
Originally listed on the Watch List 10/24/10


Diamond Offshore - DO - $65.24

11/27 update: Warning! I think we need to worry about DO. The OSX oil service index hasn't even begun to correct lower yet but shares of DO broke down to new multi-week lows this past week. Support near $65.00 held up but I wouldn't count on it holding. More conservative traders will want to seriously consider an early exit right here! I am not suggesting new bullish positions at this time.
Please note our new stop loss at $63.90.

NOTE - it looks like the option strikes have changed to reflect the recent dividend announced by DO. The 2011 March $80s are no the $79.25s. The 2012 Jan. $86s are now $85.25s.

- Current Positions -
Oct 21, 2010 - entry price on DO @ 67.50, option @ 1.90
symbol: DO1119C80 2011 Mar $79.25 call - current bid/ask $0.92/0.97

- or -

Oct 21, 2010 - entry price on DO @ 67.50, option @ 4.79
symbol: DO1221A86 2012 Jan $85.25 call - current bid/ask $3.00/3.25

11/27/10 New stop loss @ 63.90
11/20/10 New Entry point on bounce from 50-dma. Use small positions
10/21/10 Play triggered on a dip at $67.50

Current Target(s): $79.00 & 89.00
Current Stop loss: 63.90
Play Entered on: 10/21/10
Originally listed on the Watch List 10/16/10


EMC Corp. - EMC - close: 21.70

11/27 update: Thanksgiving week was a quiet one for EMC. The stock is still consolidating sideways but with a bullish trend of higher lows. I don't see any changes from my previous comments except that I'm raising our stop loss to $18.95. Our first target is $22.50 so we will want to sell the rest of our 2011 calls when EMC hits this level.

- Current Positions -
May 6, 2010 - entry price on EMC @ 18.25, option @ 1.40
symbol: EMC 11A20.00 2011 Jan $20 call - current bid/ask $2.01/2.06

- or -

May 6, 2010 - entry price on EMC @ 18.25, option @ 2.50
symbol: EMC 12A20.00 2012 Jan $20 call - current bid/ask $3.70/3.85

10/23/10 Sell Half of the 2011 calls, bid @ 2.06 (+47%)
10/23/10 New stop loss @ 18.40
09/04/10 EMC has provided a new entry point with the move over $19
07/03/10 More Conservative Traders may want to exit early!

Current Target(s): $22.50 & 24.75
Current Stop loss: 18.95
Play Entered on: 05/06/10
Originally listed on the Watch List 03/20/10


Express Scipts - ESRX - close: 52.51

11/27 update: ESRX spent the week drifting sideways in a narrow range. I would not be surprised to see this stock retest the $51-50 zone but we could use the dip as a new entry point. FYI: The P&F chart is bullish with a $74 target.

- Current Positions -
Oct 25, 2010 - entry price on ESRX @ 49.30, option @ 4.85
symbol: ESRX1221A55 2012 Jan $55 call - current bid/ask $5.75/5.90

- or -

Oct 25, 2010 - entry price on ESRX @ 49.30, option @ 7.10
symbol: ESRX1319A55 2013 Jan $55 call - current bid/ask $8.80/ 9.35

11/06/10 New stop @ 46.90
10/25/10 Trade is opened. ESRX opens @ $49.30

Current Target(s): $59.50
Current Stop loss: 46.90
Play Entered on: 10/25/10
Originally listed on the Watch List 10/16/10


SPDR Gold ETF - GLD - close: 133.11

11/27 update: The sovereign debt fears in Europe are wreaking havoc with the euro and that's driving strength in the dollar. Meanwhile this dollar strength has a negative impact on commodities, including gold. At least that is normally how it works. Gold saw some safe haven buying during the flare up between North and South Korea last week. As long as the Korean peninsula is quiet the focus will be on Ireland, Portugal and the Eurozone. If the EU and the IMF can come together on a rescue then the euro will bounce and the dollar should decline. At the same time we have to keep in mind the Federal Reserve will resume their QE2 purchases this week, which should also push the dollar lower (and thus make gold more attractive).

The GLD has support near $130.00 and near its 50-dma. If we see the GLD breakdown under $130 it's probably a signal we'll see this ETF correct back toward $125-123. I'm not suggesting new bullish positions at this time.

FYI: The Point & Figure chart is still bullish and currently points to a $188 target.

Currently we only have one position left (2012 calls) and I'm not suggesting new bullish positions at this time.

Our long-term target for the 2012 calls is at $149.00.

- Current Positions -
Aug 6, 2010 - entry price on GLD @ 118.00, option @ 10.75
symbol: GLD1221A130 2012 Jan $130 call - current bid/ask $15.35/15.80

11/09/10 Target hit - GLD opened at $138.70, 2011 Mar. Call opened @ $20.00 (+159%)
11/06/10 new stop @ 123.40
10/30/10 New stop @ 121.00. Readers may want to exit ahead of FOMC meeting
10/02/10 Sell half of the 2011 March calls, option @ 12.70 (+64.9%)
10/02/10 New stop $ 118.49
09/25/10 New stop @ 116.45, new target 138.50

Current Target(s): $149.00
Current Stop loss: 123.40
Play Entered on: 08/06/10
Originally listed on the Watch List 06/05/10


Goldman Sachs - GS - close: 158.22

11/27 update: GS is a watch list candidate that has made its way to our play list a little faster than anticipated. We were expecting a correction on GS but we were not expecting the sudden spike lower on Monday morning. Last weekend, the Wall Street Journal published an article about the Feds launching a new trading probe into a couple of hedgefunds over insider trading. Fingers started pointing to bankers at Goldman as possibly leaking this insider information. There is nothing concrete yet but naturally the market shot first and asked questions later. Shares of GS fell to $158.45 on Monday, Nov. 22nd. Our trigger to buy calls was hit at $160.75. The stock has continued to slip sideways, inching lower and lower toward its 50-dma.

Currently, if authorities do find GS connected to the wrong doing the amounts being mentioned (tens of millions) is not fatal to GS but more bad news could certainly push the stock lower. I am not suggesting new bullish positions at this time. We might get a better entry point on a dip near the stock's 200-dma around $153.00. I am going to raise our risk on this play but adjusting our stop loss to $149.75. This way GS would have to breakdown through several more layers of support before we finally get stopped out.

Our plan was to start with small positions to limit our risk. This will allow us to add to positions if we do see a better entry point down the road. I'm setting our first target at $179.75.

- Current Positions -
Nov 22, 2010 - entry price on GS @ 160.75, option @ 4.25
symbol: GS1116D180 2011 Apr $180 call - current bid/ask $ 3.55/ 3.65

- or -

Nov 22, 2010 - entry price on GS @ 160.75, option @ 9.40
symbol: GS1221D190 2012 Jan $190 call - current bid/ask $ 8.95/ 9.25

11/22/10 GS hit our trigger @ $160.75

Chart of DE:

Current Target(s): $179.75, 199.50
Current Stop loss: 149.75
Play Entered on: 11/22/10
Originally listed on the Watch List 10/24/10


Humana Inc. - HUM - close: 56.79

11/27 update: HUM managed to eke out a gain for the week but shares essentially drifted sideways in a narrow range. I don't see any changes from my prior comments. Look for a dip near the rising 50-dma as our next entry point. Although if you do launch new positions you'll want to consider a tighter stop loss.

Previous Comments:
We have already sold (exited) our 2011 calls for a profit.

- Current Positions -
Sep 17, 2010 - entry price on HUM @ 50.50, option @ 6.40
symbol: HUM1221A55 2012 Jan $55 call - current bid/ask $ 8.10/ 9.10

11/20/10 Entry point on the dip.
10/23/10 Exit (sell) the 2011 Jan. $55 calls, bid @ 4.40 (+137%)
10/23/10 New stop loss $ 48.75
10/16/10 New stop loss @ 47.40
10/11/10 New Entry point - HUM is breaking out past $51.00.

Current Target(s): $69.00
Current Stop loss: 48.75
Play Entered on: 09/17/10
Originally listed on the Watch List 09/04/10


Intl.Business Machines - IBM - close: 143.90

11/27 update: IBM has continued to consolidate sideways in a neutral pattern of higher lows and lower highs. Optimistically the prevailing trend normally continues and for IBM that would be higher but I wouldn't be surprised to see a correction. I am not suggesting new bullish positions at this time. Look for support near $140 and $135.

Prior Comments:
We have already exited the 2011 calls for a gain.

- Current Positions -
Sep 30, 2010 - entry price on IBM @ 136.00, option @ 7.80
symbol: IBM1221A150 2012 Jan $150 call - current bid/ask $10.20/10.45

10/29/10 IBM hit $144, our target to exit the 2011 calls (+71.8%)
10/18/10 IBM reported earnings
10/16/10 Short-term target for 2011 calls set at $144.00.
09/30/10 Play triggered $136.00, stop $129.50

Current Target(s): $159.00
Current Stop loss: 129.50
Play Entered on: 09/30/10
Originally listed on the Watch List 09/25/10


Infosys Technologies - INFY - close: 66.96

11/27 update: INFY spent the week bouncing around the $65-67 zone. Unfortunately, shares were unable to breakout past $67 and now the 50-dma is overhead and bolstering resistance. I am not convinced the correction is over. That means we will probably see INFY pull back toward the $64-62 zone. I am not suggesting new bullish positions at this time. Keep in mind our stop loss is at $61.75.

Previous Comments:
We have already sold the 2011 calls for a profit. Our remaining positions are any 2012 calls. Our long-term target is $79.00.

- Current Positions -
July 1, 2010 - entry price on INFY @ 59.00, option @ 8.20
symbol: INFY 12A65.00 2012 Jan $65 call - current bid/ask $ 9.60/11.20

10/15/10 INFY reports earnings.
10/02/10 Sell the 2011 Calls, INFY @ 70.52, option @ 11.20 (+49.3%)
10/02/10 New stop @ 61.75
09/25/10 New stop @ 58.75

Current Target(s): $79.00
Current Stop loss: 61.75
Play Entered on: 07/01/10
Originally listed on the Watch List 06/26/10


L-3 Communications - LLL - close: 71.38

11/27 update: LLL's consolidation continues. The stock managed a bounce from the $70.00 level and is now back above its 50 and 100-dma, all positive signs. I would be tempted to buy new call LEAPS here but I still can't shake the worry that LLL is forming a huge bear-flag pattern. More conservative traders may want to tighten their stops.

- Current Positions -
Nov 11, 2010 - entry price on LLL @ 71.87, option @ 5.80
symbol: LLL1221A75 2012 Jan $75 call - current bid/ask $ 5.30/ 5.60

11/11/10 Play triggered with LLL's gap open @ 71.87

Current Target(s): $79.50, 89.00
Current Stop loss: 67.75
Play Entered on: 11/11/10
Originally listed on the Watch List 11/06/10


McDonald's Corp. - MCD - close: 75.54

11/27 update: MCD lost just over a dollar for the week but shares have essentially drifted sideways. MCD is still struggling with resistance in the $79.50-80.00 zone. Upward momentum is beginning to fade. Maybe MCD is getting closer to a long, overdue correction. If MCD does correct I would look for a pull back toward the $74.00 area. We do not want to launch new positions at this time.
FYI: One of these days MCD might announce another stock split. The stock's last split was 2:1 back in March 1999 around the $80 zone.

Previous Comments:
We have already sold the 2011 calls for a gain. Our long-term target for the 2012 calls is $89.00.

- Current Positions -
June 29, 2010 - entry price on MCD @ 66.50, option @ 2.20
symbol: MCD 12A80.00 2012 Jan $80 call - current bid/ask $4.85/ 5.00

11/06/10 New stop @ 71.90
10/23/10 New stop @ 69.75
10/16/10 Sell the remaining 2011 calls, bid @ $8.00 (+201%)
10/16/10 New target for 2012 positions @ $89.00
10/02/10 New stop @ 67.90
08/28/10 New stop @ 66.75
07/17/10 Take Profits! 2011 Jan $70 call @ 4.00 (+51%), 2012 $80 call @ 3.50 (+59%)

Current Target(s): $89.00
Current Stop loss: 71.90
Play Entered on: 06/29/10
Originally listed on the Watch List 06/12/10


Microsoft Corp. - MSFT - close: 25.25

11/27 update: The correction in MSFT has now lasted three weeks in a row. The breakdown under the 50-dma is bearish but it looks like investors have been buying the dip near $25.00. I would launch new positions here in the $25.00 region but more conservative traders may want to wait for MSFT to finally break its trend of lower highs. A close over $25.75 or over $26.00 would work.

Previous Comments:
The $28.00 level could be significant resistance as would the 2010 highs near $31.50. Long-term my upside target is $31.00. Our time frame is nine to twelve months. Stop loss at $23.25.

- Current Positions -
Oct 18, 2010 - entry price on MSFT @ 25.59, option @ 3.30
symbol: MSFT1221A25 2012 Jan $25 call - current bid/ask $2.88/ 2.94

- or -

Oct 18, 2010 - entry price on MSFT @ 25.59, option @ 2.30
symbol: MSFT1319A30 2013 Jan $30 call - current bid/ask $2.02/ 2.15

11/20/10 Another Entry Point on the dip toward the 50-dma
10/28/10 MSFT delivers stronger than expected earnings.

Current Target(s): $31.00
Current Stop loss: 23.25
Play Entered on: 10/18/10
Originally listed in New Plays on 10/16/10


Nike Inc. - NKE - close: 85.96

11/27 update: NKE hit new highs last week with a pre-holiday rally to $87.00. Shares look a little bit overbought. Look for a pull back toward the $84-83 zone as our next potential entry point. Remember, we want to keep our position size small. Readers may want to wait on initiating positions until after we see NKE's December 21st earnings report.

Previous Comments:
We wanted to keep our initial position size small to limit our risk.

- Current Positions -
Nov 15, 2010 - entry price on NKE @ 82.91, option @ 5.40
symbol: NKE1221A90 2012 Jan $90 call - current bid/ask $6.90/ 7.05

11/15/10 Play opened on Monday morning, NKE @ 82.91

Current Target(s): $95-100
Current Stop loss: 79.75
Play Entered on: 11/15/10
Originally listed in New Plays on 11/13/10


Nokia Corp. - NOK - close: 9.55

11/27 update: Watch out! NOK continues to underperform. I strongly suspect that NOK's weakness recently is merely a reaction to the big declines in the European stock markets as they struggle with rescues for Ireland, Portugal, etc. Unfortunately, NOK has broken support near $10, support near its 100-dma, and is now testing support near $9.50. If there is any follow through lower we will get stopped out since our stop is at $9.49. I am not suggesting new positions at this time. Right now our biggest risk is NOK gapping open lower on us.

- Current Positions -
Nov 12, 2010 - entry price on NOK @ 10.25, option @ 1.75
symbol: NOK1221A10 2012 Jan $10 call - current bid/ask $ 1.17/ 1.22

11/12/10 Play triggered @ $10.25

Current Target(s): $12.45, 14.40
Current Stop loss: 9.49
Play Entered on: 11/12/10
Originally listed on the Watch List 11/06/10


NVIDIA Corp. - NVDA - close: 13.60

11/27 update: On an intraday basis NVDA tagged new six months highs but shares are struggling with resistance near $13.80. While the trend for NVDA is bullish it wouldn't surprise me to see a correction toward the $13.00-12.50 zone. I am not suggesting new positions at this time.

Previous Comments:
We took profits on the 2011 calls in late September. All we have left are the 2012 calls. Overall this remains an aggressive, higher-risk trade. NVDA has been struggling and sales growth has been slowing down but we are betting the worse has already been priced in for this stock. Keep your positions very small to limit our risk.

- Current Positions -
Sep 13, 2010 - entry price on NVDA @ 10.75, option @ 1.69
symbol: NVDA1221A12.5 2012 Jan $12.50 call - current bid/ask $3.10/ 3.20

11/20/10 New target at $15.75
11/20/10 new stop @ 11.40
11/13/10 New stop @ 10.89
11/06/10 New stop @ 10.40
11/04/10 Target hit @ 12.50, take profits: 2012 calls @ $2.40 (+42.0%)
09/25/10 Sell the 2011 calls, NVDA @ 12.26, option @ 2.70 (+70.8%)
09/25/10 new stop 9.95
09/13/10 Play Triggered @ $10.75

Current Target(s): $12.50 & 15.75
Current Stop loss: 11.40
Play Entered on: 09/13/10
Originally listed in New Plays on 08/28/10


Old Dominion Freight Line Inc. - ODFL - close: 29.37

11/27 update: ODFL is a new play we added last week and it's off to a good start. The stock opened at $28.42 on Monday and managed to breakout past $29.00 on a new "buy" rating midweek. If you're looking for a new entry point wait for a pull back into the $29.00-27.00 zone. Keep an eye on the rising 30-dma and 50-dma for technical support.

- Current Positions -
Nov 22, 2010 - entry price on ODFL @ 28.42, option @ 1.95
symbol: ODFL1116D30 2011 APR $30 call - current bid/ask $ 1.10/ 2.45

11/22/10 ODFL opens at $28.42

Current Target: $34.75
Current Stop loss: 25.45
Play Entered on: 11/22/10
Originally listed in the New Plays 11/20/10


Transocean Ltd. - RIG - close: 66.51

11/27 update: RIG was underperforming last week with a slow fade lower towards support near $65 and its converging 50-dma and 200-dma. Normally when the 50-dma crosses up and above the 200-dma it is considered a very bullish signal and we should see that happen in the next few days. However, I am not suggesting new bullish positions at this time.

Previous Comments:
We have taken profits twice, once at $59.00, and then we exited the 2011 calls at $67.00. We still have the 2012 calls and we're aiming for $78.50.

- Current Positions -
Jun 09, 2010 - entry price on RIG @ 43.50, option @ 7.25
symbol: RIG 12A60.00 2012 Jan $60 call - current bid/ask $13.70/14.05

11/13/10 new target @ 78.50
10/23/10 New stop @ 54.85
10/13/10 Target hit at $67.00 to exit the 2011 call option @ 17.40 (+167.6%)
10/02/10 New stop @ 53.90
09/10/10 Target Hit @ 59.00 (take some money off the table), 2011 Jan $50 call @ $11.45 (+76.1%), the 2012 Jan $60 call @ $10.35 (+42.7%)

Current Target(s): $78.50
Current Stop loss: 54.85
Play Entered on: 06/09/10
Originally listed on the Watch List 06/05/10


TASER Intl. - TASR - close: 4.16

11/27 update: TASR retested support near $4.00 and trades were quick to buy the dip. The stock looks poised to rally higher. I would be tempted to buy this bounce but if you do I suggest you consider a tighter stop loss closer to $4.00.

- Current Positions -
Buy TASR stock (entry $3.69), stop loss $3.75

10/23/10 Sell at least Half of our position: TASR @ 4.53 (+22.7%)
10/23/10 New Stop @ 3.75
08/30/10 TASR opens Monday at $3.69 (entry point)
08/28/10 TASR listed as a new play

Current Target(s): $ 4.90
Current Stop loss: 3.75
Play Entered on: 08/30/10
Originally listed in New Plays on 08/28/10


WellPoint Inc. - WLP - close: 57.10

11/27 update: WLP surged on Monday following reports that the new rules from the Department of Health and Human Services on how much insurers spend on healthcare and taxes turned out better than expected. Unfortunately, Monday's high was the peak for the week and it was all downhill from there. I would look for a bounce in the $56-57 zone before considering new bullish positions.

- Current Positions -
Oct 14th, 2010 - entry price on WLP @ 57.75, option @ $5.25
symbol: WLP1221A65 2012 Jan $65 call - current bid/ask $ 4.70/ 4.90

11/20/10 Another entry point on the bounce from the 200-dma
10/14/10 Play Triggered when WLP hit $57.75, option @ $5.25

Current Target(s): $69.75
Current Stop loss: 52.75
Play Entered on: 10/14/10
Originally listed on the Watch List 10/11/10


Wynn Resorts - WYNN - close: 102.09

11/27 update: WYNN lost less than a dollar for the week but I'm worried. The stock has not been able to shake off the short-term bearish trend of lower highs. Currently WYNN is hovering over support near $100. A breakdown here would probably see a quick drop toward $95.00. If you're looking for a new entry point I'd rather look for some strength (like a close over $106) or wait for the drop and then buy a dip near $95 (or buy a rebound near $95). keep in mind our stop loss is at $94.75.

Previous Comments:
Keep your positions small. This is an aggressive trade.

OPTION STRIKES: Note, given the $8.00 dividend the option strikes have been adjusted. The $110 calls are now the $102 calls. The $120 calls are now $112 calls.

- Current Positions -
Nov 19th, 2010 - entry price on WYNN @ 101.33, option @ $10.50
symbol: WYNN1119C102 2011 MAR $102 call - current bid/ask $10.20/10.40

- or -

Nov 19th, 2010 - entry price on WYNN @ 101.33, option @ $16.05
symbol: WYNN1221A112 2012 JAN $112 call - current bid/ask $15.85/16.25

11/19/10 Play opened on gap down at $101.33

Current Target(s): $119.00
Current Stop loss: 94.75
Play Entered on: 11/19/10
Originally listed on the Watch List 05/15/10