Closed Plays


None. No closed plays this week.


Play Updates


Arch Coal Inc. - ACI - close: 32.07

12/18 update: It was a very quiet week for ACI. The stock has continued to consolidate sideways. It is worth noting that the consolidation is narrowing. This is a neutral pattern of higher lows and lower highs. Although odds favor a breakout into the preceding trend, which in ACI's case would be higher. I am not suggesting new bullish positions at current levels but another bounce from support near $30.00 might change my mind. Our long-term target is $39.75. More aggressive traders could aim a lot higher, especially if you're holding the 2013 calls.

- Current Positions -
Nov 22, 2010 - entry price on ACI @ 30.15, option @ 3.90
symbol: ACI1221A35 2012 JAN $35 call - current bid/ask $ 4.35/ 4.45

- or -

Nov 22, 2010 - entry price on ACI @ 30.15, option @ 5.15
symbol: ACI1319A35 2013 JAN $35 call - current bid/ask $ 6.45/ 6.85

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: 50.87

12/18 update: This is a new bullish entry point in AKAM. As expected the correction lower in AKAM found support near its rising 100-dma. Shares have already begun to bounce. It did not hurt that Bloomberg ran an article discussing the bullish opinion of a Goldman Sachs analysts who believes AKAM will likely be acquired by someone in 2011.

I am suggesting that we launch new bullish positions now. Personally I would pick the 2012 January $60 calls but the $50s or $55s would also work well. I also want to remind readers that AKAM is being added to the NASDAQ-100 index on Monday, Dec. 20th. Please note that I am raising our long-term target to $69.00 although we should expect significant resistance near the $60 level.

Previous Comments:
We have already taken profits on our 2011 calls. That leaves the 2012 calls. 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 $10.20/10.60

- Third Position -

Dec. 20, 2010 - entry price on AKAM @ xx.xx, option @ x.xx
symbol: AKAM1221A60 2012 JAN $60 call - current bid/ask $ 5.65/ 6.35

12/18/10 New Entry point, AKAM @ $50.87, 2012 Jan. $60 call ask @ $6.35
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

Chart of AKAM:

Current Target: $69.00
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: 98.74

12/18 update: Ouch! It was a rough week for BIDU. The stock broke down under its 50-dma and plunged toward the $100.00 level on Wednesday. The drop was fueled by news that BIDU's management issued cautious comments at a conference in Asia where they suggested the company's strong growth rate could get tougher to keep up. The selling continued on Thursday but traders bought the dip at its rising 100-dma. Shares are now off about -15% from their highs. Cautious traders may want to raise their stop loss closer to the $97.00 level (near the 100-dma). We are keeping ours at $94.00 for the moment. I am not suggesting new bullish positions at this time.

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 $19.45/19.95

10/30/10 Adjusted exit target 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: 79.95

12/18 update: Our BRK.B is not looking very healthy. The market is rising to new two-year highs and yet BRK.B is still struggling with a bearish trend of lower highs over the last few weeks. I am not suggesting new bullish positions at this time. Wait for a close over the 50-dma or the $82.00 level before re-considering new long-term bullish positions. Conservative traders may want to wait for a close over $84.00. We only have five weeks left on our 2011 January calls.

- Current Positions -
Oct 29, 2010 - entry price on BRK.B @ 79.00, option @ 1.25
symbol: BRKB1122A85 2011 JAN $85 call - current bid/ask $ 0.07/ 0.11

- or -

Oct 29, 2010 - entry price on BRK.B @ 79.00, option @ 5.00
symbol: BRKB1221A90 2012 JAN $90 call - current bid/ask $ 3.40/ 3.55

12/11/10 New stop loss @ 77.75.
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: 77.75
Play Entered on: 10/29/10
Originally listed on the Watch List 09/11/10


ConocoPhillips - COP - close: 65.06

12/18 update: The energy sector has been consolidating sideways. COP has been consolidating under the $66.00 level. The trend is up but I would prefer to wait for a dip near $62 and its 50-dma before considering new bullish positions.

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 $8.45/8.55

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: 81.55

12/18 update: DE spent the week consolidating sideways. Shares look vulnerable to a correction back toward the rising 50-dma (currently near $77.50). I am not suggesting new bullish positions at this time.

- 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 $6.20/6.35

12/04/10 DE offered another entry point with the move over $77.50
11/26/10 DE hit our trigger @ 75.50

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: 37.05

12/18 update: DIS delivered a very forgettable week. The stock traded inside a 75-cent range. Shares have overhead resistance at $38.00 and support in the $36-35 zone. There is no change from my previous comments. I would still consider new long-term bullish positions on a dip near the $36.00-35.00 area but readers may want to wait and buy a bounce instead of the decline.

- Current Positions -
Oct 27, 2010 - entry price on DIS @ 35.60, option @ 2.23
symbol: DIS1221A40 2012 JAN $40 call - current bid/ask $ 2.56/ 2.62

- or -

Oct 27, 2010 - entry price on DIS @ 35.60, option @ 3.63
symbol: DIS1319A40 2013 JAN $40 call - current bid/ask $ 4.15/ 4.30

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


EMC Corp. - EMC - close: 22.96

12/18 update: Target achieved. EMC started the week off with a bang. Shares gapped open higher last Monday at $22.53. Our first target to take profits was exceeded at $22.50. We wanted to exit all of our 2011 January calls and sell half of our 2012 calls. The stock continued to show relative strength on Friday with a rally to $23 and new three-year highs. Broken resistance near the $22 area should offer some short-term support.

- Current Positions -
May 6, 2010 - entry price on EMC @ 18.25, option @ 1.40
symbol: EMC 11A20.00 2011 Jan $20 call - exit 12/13 @ $2.51 (+79.2%)

- or -

May 6, 2010 - entry price on EMC @ 18.25, option @ 2.50
symbol: EMC 12A20.00 2012 Jan $20 call - current bid/ask $4.45/4.60

12/13/10 New stop loss @ 19.95
12/13/10 Target hit @ 22.50, Exit 2011 Jan. $20 calls @ $2.51 (+79.2%)
12/13/10 Target hit @ 22.50, Sell half 2012 $20 calls @ $4.15 (+66%)
12/11/10 New stop loss @ 19.49
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!

Chart of EMC:

Current Target(s): $22.50 & 24.75
Current Stop loss: 19.95
Play Entered on: 05/06/10
Originally listed on the Watch List 03/20/10


Express Scipts - ESRX - close: 54.91

12/18 update: ESRX has continued to churn sideways for the second week in a row. The stock was showing a little bit of strength on Friday but failed to truly breakout from this trading range. I am not suggesting new bullish positions at current levels. If the market sees a correction we can look for ESRX to find some support near $52 or its 50-dma. Please note our new stop loss at $49.75. Currently our exit target is $59.50.

- Current Positions -
Oct 25, 2010 - entry price on ESRX @ 49.30, option @ 4.85
symbol: ESRX1221A55 2012 Jan $55 call - current bid/ask $6.75/6.85

- or -

Oct 25, 2010 - entry price on ESRX @ 49.30, option @ 7.10
symbol: ESRX1319A55 2013 Jan $55 call - current bid/ask $9.60/10.50

12/18/10 new stop @ 49.75
12/04/10 new stop @ 47.90
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: 49.75
Play Entered on: 10/25/10
Originally listed on the Watch List 10/16/10


SPDR Gold ETF - GLD - close: 134.20

12/18 update: A bounce in the U.S. dollar helped short circuit the rebound in gold futures. The GLD has pulled back toward technical support at its 50-dma again. If this correction in gold continues I would expect a drop toward the $130 level in the GLD and possibly a pull back toward the $125 area, which would line up with the bottom of the GLD's bullish channel. I'm not suggesting new positions at this time.

FYI: Goldman Sachs is forecasting gold to hit $1,700 an ounce in 2011. We might want to reconsider raising our final exit target. Currently the plan is to exit 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 $14.90/15.60

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: 164.04

12/18 update: After the failed rally near $171 shares of GS have corrected back toward the $163-164 area. Readers might want to consider new positions now. Previously I was suggesting traders wait for a dip into the $162-160 zone. The financial sector looks poised to rebound and GS should eventually outperform. FYI: GS is due to report earnings on January 19th.

- Current Positions -
Nov 22, 2010 - entry price on GS @ 160.75, option @ 4.25
symbol: GS1116D180 2011 Apr $180 call - current bid/ask $ 3.65/ 3.75

- or -

Nov 22, 2010 - entry price on GS @ 160.75, option @ 9.40
symbol: GS1221D190 2012 Jan $190 call - current bid/ask $ 9.10/ 9.45

12/11/10 New stop loss @ 152.75
11/22/10 GS hit our trigger @ $160.75

Current Target(s): $179.75, 199.50
Current Stop loss: 152.75
Play Entered on: 11/22/10
Originally listed on the Watch List 10/24/10


Humana Inc. - HUM - close: 55.36

12/18 update: HUM underperformed this past Wednesday with a breakdown under support near $56.00 and its 50-dma. Traders have started to buy the dip but the short-term trend remains bearish. Now broken support at $56.00 is now short-term resistance. Cautious investors might want to raise their stop loss closer to the $52 area. I am not suggesting new bullish positions at this time.

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 $ 6.70/ 7.40

12/11/10 New stop loss @ 49.75
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: 49.75
Play Entered on: 09/17/10
Originally listed on the Watch List 09/04/10


Intl.Business Machines - IBM - close: 145.00

12/18 update: It was a very quiet week for IBM. The stock churned sideways in a narrow range. Market makers managed to "pin" IBM to the $145.00 strike price on Friday. If the market can cooperate I would expect IBM to breakout higher from its current consolidation. More conservative traders may want to raise their stop loss.

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 $ 9.50/ 9.65

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: 73.76

12/18 update: Big cap tech has been showing relative strength. INFY helped lead the group higher. This stock has broken out to new all-time highs and shares actually look short-term overbought and due for some profit taking. Broken resistance near $72 and $70 should offer new support. I am raising our stop loss to $63.90. More conservative traders may want to raise their stops toward $66 or even $68. I am not suggesting new positions at this time.

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 $13.80/15.90

12/18/10 New stop loss @ 63.90
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: 63.90
Play Entered on: 07/01/10
Originally listed on the Watch List 06/26/10


Jo-Ann Stores, Inc. - JAS - close: 45.15

12/18 update: JAS lost about a $1.00 for the week. Shares look headed toward their longer-term trend of higher lows. Watch for support near the 100 and 200-dma currently near $43.00-42.50. I would consider new positions on the dip near these levels but readers may want to buy calls on a bounce instead. Our first target is $54.50 .

- Current Positions -
Dec 2, 2010 - entry price on JAS @ 44.50, option @ 3.75
symbol: JAS1116G50 2011 Jul $50 call - current bid/ask $ 2.95/ 3.30

12/02/10 Play triggered @ $44.50

Current Target(s): $54.50
Current Stop loss: 41.45
Play Entered on: 12/02/10
Originally listed on the Watch List: 11/27/10


US Airways Group, Inc. - LCC - close: 10.06

12/18 update: The airline sector has continued to underperform and LCC is following the group lower. Shares of LCC have broken support near $10.50 and are now testing support near $10.00 and the 100-dma. We can use this move as a new entry point however given the relative weakness I would much rather wait for a bounce before initiating positions.

- Current Positions -
Dec 3, 2010 - entry price on LCC @ 11.00, option @ 1.95
symbol: LCC1221A12.5 2012 Jan $12.50 call - current bid/ask $ 1.26/ 1.32

12/03/10 Play triggered @ $11.00

Current Target(s): $14.90
Current Stop loss: 9.49
Play Entered on: 12/03/10
Originally listed on the Watch List: 11/27/10


L-3 Communications - LLL - close: 70.44

12/18 update: Warning! The defense sector indices look poised to breakout higher after a two-week consolidation. Yet shares of LLL are trending lower. The stock was downgraded a few days ago. Now LLL is flirting with a breakdown under the $70 level. The stock should have additional support near $68.00 but I am not suggesting new bullish positions at this time.

- Current Positions -
Nov 11, 2010 - entry price on LLL @ 71.87, option @ 5.80
symbol: LLL1221A75 2012 Jan $75 call - current bid/ask $ 4.30/ 4.50

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: 76.81

12/18 update: We knew it would happen sooner or later. MCD is finally succumbing to some long over due profit taking. The spike over $80 in early December proved to be a bull-trap pattern. Now the stock has broken down under support near $78-77 and the bottom of its six-week trading range. MCD could find some support near $76 and its 100-dma but I would not be surprised to see a correction back toward $74-72. Of course I have been warning readers that this could happen. I remain long-term bullish on MCD but we're not suggesting new bullish 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 $3.70/ 3.80

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: 27.90

12/18 update: MSFT, like a lot of the big cap tech names, has continued to show relative strength. MSFT rallied toward the $28.00 level but appears like it might be running out of gas. Plus, I should mention that the rally stalled at its trend line of higher highs dating back to July. I remain long-term bullish on MSFT but short-term the stock is overbought and poised for some profit taking.

- Current Positions -
Oct 18, 2010 - entry price on MSFT @ 25.59, option @ 3.30
symbol: MSFT1221A25 2012 Jan $25 call - current bid/ask $4.40/ 4.50

- or -

Oct 18, 2010 - entry price on MSFT @ 25.59, option @ 2.30
symbol: MSFT1319A30 2013 Jan $30 call - current bid/ask $3.20/ 3.30

12/11/10 New stop loss @ 24.40
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: 24.40
Play Entered on: 10/18/10
Originally listed in New Plays on 10/16/10


Nike Inc. - NKE - close: 90.05

12/18 update: This could end up being an exciting week for NKE. The stock has soared to new all-time highs near the $90 level just days ahead of its earnings report. NKE is due to report on Dec. 21st after the closing bell. I strongly suggest that more conservative traders consider taking profits now ahead of the earnings report. Normally holding over earnings can be a high-risk event. To limit our risk I am raising our stop loss to $83.90, just under support near $84 and its 50-dma. Readers may want to consider an even higher stop loss. I am not suggesting new positions at this time. Wall Street expects a profit of $0.88 a share. I am setting our final target at $98.00.

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 $8.50/ 8.70

12/18/10 New stop loss @ 83.90
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


NVIDIA Corp. - NVDA - close: 14.37

12/18 update: NVDA was long over due for some profit taking and the correction appears to have started. I would expect the pull back to find support in the $13.85-13.00 zone. I am not suggesting new bullish 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 $3.55/ 3.65

12/11/10 Decision - Sell now with option up +133% or Stay the course.
12/11/10 New long-term target at $17.75
12/04/10 New stop loss @ 12.25
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 & 17.75
Current Stop loss: 12.25
Play Entered on: 09/13/10
Originally listed in New Plays on 08/28/10


Old Dominion Freight Line Inc. - ODFL - close: 30.62

12/18 update: The Dow Jones Transportation index has been consolidating sideways for two weeks. The action in ODFL hasn't been much different. I would still look for support in the $29-28 zone. I am not suggesting new long-term bullish positions at current levels.

FYI: The spreads in the April options are ridiculous. Hopefully these will narrow as we get closer to expiration.

- Current Positions -
Nov 22, 2010 - entry price on ODFL @ 28.42, option @ 1.95
symbol: ODFL1116D30 2011 APR $30 call - current bid/ask $ 2.40/ 3.10

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: 69.34

12/18 update: RIG suffered some profit taking last week. The U.S. government has decided to pursue a civil case against BP and they listed RIG as one of the four defendants in the case. Naturally investors were a little nervous but shares of RIG found support near the trendline of higher lows. I remain long-term bullish on RIG but I'm not suggesting new 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 $14.60/15.10

12/11/10 New stop @ 61.90
12/04/10 New stop @ 59.90
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: 61.90
Play Entered on: 06/09/10
Originally listed on the Watch List 06/05/10


WellPoint Inc. - WLP - close: 55.93

12/18 update: Warning! I am growing more and more cautious on WLP. The action this past week looks like another failed rally. Shares have pulled back toward technical support near the 200-dma. If WLP closes under $55.00 readers will want to seriously consider an early exit. I am raising our stop loss to $53.75. I am not suggesting new positions at this time.

- Current Positions -
Oct 14th, 2010 - entry price on WLP @ 57.75, option @ $5.25
symbol: WLP1221A65 2012 Jan $65 call - current bid/ask $ 3.60/ 3.85

12/18/10 New stop loss @ 53.75.
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: 53.75
Play Entered on: 10/14/10
Originally listed on the Watch List 10/11/10


Wynn Resorts - WYNN - close: 104.95

12/18 update: WYNN actually broke down under support at $100 on Tuesday last week. There wasn't any follow through but the trend was bearish. That changed on Thursday when JPM upgraded the stock. Shares reacted with a nice spike higher. I remain longer-term bullish on WYNN but I am not convinced that shares will not see a dip toward $96-95 before the end of February. Essentially, I'm cautious and hesitate to launch new bullish positions in WYNN at the moment.

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 $10.45/10.65

- or -

Nov 19th, 2010 - entry price on WYNN @ 101.33, option @ $16.05
symbol: WYNN1221A112 2012 JAN $112 call - current bid/ask $16.05/16.35

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