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Play Updates

Growing Cautious: Six New Stops

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BULLISH Play Updates

Greif Inc. - GEF - close: 32.59 change: -1.48 stop: 31.25

GEF pulled back to short-term support near $32.00 this afternoon. We suggested yesterday that readers use such a dip as a new entry point to buy the stock. If you're feeling cautious then up your stop loss toward $31.60-31.75ish. The P&F chart is bullish with a $50.00 target. I see resistance closer to $40.00. Our target is $39.50.

Picked on December 16 at $34.24 
Change since picked:     - 1.65   			
Earnings Date          02/26/09 (unconfirmed)    
Average Daily Volume:       464 thousand    


Hasbro Inc. - HAS - close: 28.63 change: -0.33 stop: 27.35 *new*

HAS tried to rally this morning but ran out of steam. The stock really didn't turn lower until the market weakened this afternoon. Look for a dip toward $27.50. We are raising our stop loss to $27.35. We have two targets. Our short-term target is $29.90. Our multi-week target is $32.25.

Picked on December 06 at $28.31 /gap higher entry
Change since picked:     + 0.32 /originally listed at $27.84
Earnings Date          02/09/09 (unconfirmed)    
Average Daily Volume:       2.6 million     


Hansen Natural - HANS - close: 32.97 change: +0.73 stop: 29.15 *new*

Investors responded positively to HANS' mid-quarter update this morning. The stock spiked higher to $33.99 before settling with a 2.2% gain. We are raising our stop loss again; this time to $29.15. Readers may want to start thinking about taking some profits off the table here. We're not suggesting new bullish positions at this time.

We have two targets. Our first target is $34.90. We are going to list a secondary target at $37.50 but strongly suggest readers take most of their money off the table at $34.90. The Point & Figure chart looks very bullish (see below) with a $45 target.

Picked on December 16 at $30.25 *triggered       
Change since picked:     + 2.72   			
Earnings Date          02/26/09 (unconfirmed)    
Average Daily Volume:       1.8 million     


Juniper Networks - JNPR - close: 17.09 change: -0.23 stop: 16.75 *new*

JNPR is still trading sideways. We are going to grow more defensive and up our stop loss to $16.75. I would be tempted to buy a bounce from $17.00 with an even tighter stop but readers may want to wait for a new rise over $18.00 before considering new positions. Our target is $19.85. FYI: The P&F chart is bullish with a $26 target.

Picked on December 13 at $17.46 
Change since picked:     - 0.37   			
Earnings Date          01/22/09 (unconfirmed)    
Average Daily Volume:      10.1 million     


Lam Research - LRCX - close: 21.91 change: -0.99 stop: 20.75

Semiconductor stocks really under performed the market today with the SOX falling more than 5.5%. LRCX was not hit quite so hard but still lost 4.3%. There was some chatter today that analysts have grown too bearish on the chip sector and it could be a bullish signal or at least signs of a bottom. LRCX has not yet broken the bullish trend of higher lows but I'm hesitant to open new positions here. Our target is $24.90. More aggressive traders may want to aim higher. The P&F chart is bullish with a $33 target.

Picked on December 15 at $22.25 *triggered       
Change since picked:     - 0.34   			
Earnings Date          01/21/09 (unconfirmed)    
Average Daily Volume:       3.1 million     


N.Amer.Palladium - PAL - close: 1.60 change: -0.15 stop: 1.45

The U.S. dollar managed to post a bounce following its recent sell-off and commodity related stocks took a hit. Shares of PAL lost 8.5% but spent most of the day churning sideways. I would use a new dip to $1.50 or a new rise over $1.70 as an entry point to get long the stock. This is a high-risk, speculative play. Our target is $3.00.

Picked on December 13 at $ 1.67 /gap open entry
Change since picked:     - 0.07 /originally listed at $1.54
Earnings Date          11/08/08 (confirmed)    
Average Daily Volume:       593 thousand    


RadioShack - RSH - close: 11.66 change: -0.55 stop: 10.85 *new*

RSH just cut our gains in half with a 4.5% drop today. The stock found support where it was supposed to near $11.50 and its 10 and 50-dma. A bounce from here would be a new bullish entry point. We're raising our stop loss to $10.85. RSH has already hit our first target. Our second target is $13.75.

Picked on December 13 at $11.15 
Change since picked:     + 0.51   			
Earnings Date          02/12/09 (unconfirmed)    
Average Daily Volume:       4.3 million     


Raytheon - RTN - close: 50.20 change: -0.29 stop: 49.45 *new*

I am surprised that RTN did not show more strength today. News hit the wires that RTN won a $3.3 billion order, through the Defense Department, to build Patriot missile defense systems for the United Arab Emirates. The stock did rally to $52.00 but it failed to hold its gains. I am growing more and more cautious on this stock. We're raising the stop loss to $49.45. We're not suggesting new positions at this time. Our target is unchanged at $54.50. The P&F chart is bullish with a $61 target.

Picked on December 06 at $50.48 /gap higher entry
Change since picked:     - 0.28 /originally listed at $49.55
Earnings Date          01/29/09 (unconfirmed)    
Average Daily Volume:       4.4 million     


Shaw Group Inc. - SGR - close: 20.04 change: -1.60 stop: 17.95 *new*

Ouch! SGR almost reversed yesterday's 10% gain with a 7.4% decline today. The stock hit a new relative high of $22.74 and then collapsed back toward the $20.00 region. We are inching up our stop loss to $17.95. More conservative traders may want to raise their stops toward $18.50 or even toward $19.00. We're trying to give SGR room since the stock can be somewhat volatile. A bounce from here near $20.00 would be a new bullish entry point.

We have two targets. Our first target is $24.00. Our secondary target is $27.00 but we suggest readers take off most of their positions at $24.00.

Picked on December 16 at $19.54 /gap down entry
Change since picked:     + 0.50 /originally listed at $19.74
Earnings Date          01/07/09 (unconfirmed)    
Average Daily Volume:       3.6 million     


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