BULLISH Play Updates

Andersons Inc. - ANDE - close: 31.34 change: +1.40 stop: 27.59

ANDE is finally showing some strength with investors buying the dip near $29.50 this morning. The stock closed with a 4.6% gain. Our first target is $34.00. My time frame is less than four weeks.

Entry on      June 25 at $29.95 
Change since picked:     + 1.39   			
Earnings Date          08/06/09 (unconfirmed)    
Average Daily Volume:       379 thousand
Listed on  June 25, 2009    


A.O.Smith Corp. - AOS - close: 34.04 change: +1.47 stop: 30.85 *new*

AOS also displayed some very impressive strength with a 4.5% gain. The stock hit new multi-month highs at $34.60. Our first target to take profits is at $34.95 but I am suggesting readers strongly consider taking some money off the table tomorrow with AOS near $34.00. Currently the stock is up 12.5% from our entry point. We're raising our stop loss to $30.85. Broken resistance near $32.00 should be new support. Our second target is $37.00.

Entry on      June 23 at $30.25 *triggered       
Change since picked:     + 3.79   			
Earnings Date          07/16/09 (unconfirmed)    
Average Daily Volume:       195 thousand
Listed on  June 20, 2009    


Bank of America - BAC - close: 13.05 change: -0.15 stop: 11.85

Banking stocks under performed and we're not the least bit surprised to see BAC pull back after trading to its 200-dma. Watch for a dip near $12.50 as our next entry point.

Our first target is $14.50, which is where we want to sell 50% to 75% of our position. Our second target is $16.45. Bear in mind that we probably want to exit ahead of the late July earnings report so those target look optimistic.

Entry on      June 04 at $12.24 /gap higher entry
                              /listed at $11.87
Change since picked:     + 0.81   			
Earnings Date          07/20/09 (unconfirmed)    
Average Daily Volume:       537 million 
Listed on   May 19, 2009    


Bank of Montreal - BMO - close: 43.03 change: +0.88 stop: 39.90 *new*

The bounce today is very encouraging. Lack of follow through on yesterday's bearish reversal candlestick is good news for the bulls. Yet the action today is an "inside day", which suggests indecision. I'm not suggesting new positions at this time. Please note our new stop at $39.90. Our first target to take profits is $44.90. Our second target is $48.00. This could take six to eight weeks.

Entry on      June 25 at $41.38 
Change since picked:     + 1.65   			
Earnings Date          08/25/09 (unconfirmed)    
Average Daily Volume:       729 thousand
Listed on  June 25, 2009    


Bally Tech. - BYI - close: 30.67 change: +0.72 stop: 27.45

BYI erased yesterday's losses and rallied to new multi-month highs. I'm suggesting new positions here. Our first target is $32.90. Our second target is $34.90. My time frame is six to eight weeks.

Entry on      June 26 at $30.10 *triggered       
Change since picked:     + 0.57   			
Earnings Date          08/19/09 (unconfirmed)    
Average Daily Volume:       859 thousand
Listed on  June 24, 2009    


Dell Inc. - DELL - close: 13.39 change: -0.34 stop: 12.45

The rally in DELL is starting to look a little tired and shares are pulling back. Look for support near $13.00 or its exponential 200-dma around $12.80. Our first target is $14.90. We have a second target at $15.95 but we want to take most of our money off the table at $14.90. My time frame is about eight weeks. FYI: The Point & Figure chart is bullish with a $20 target but it's also showing potential resistance near $14.50. More conservative traders may want to start taking profits near $14.50.

Entry on      June 09 at $12.55 
Change since picked:     + 0.84   			
Earnings Date          08/27/09 (unconfirmed)    
Average Daily Volume:        29 million 
Listed on  June 06, 2009    


Joy Global - JOYG - close: 36.25 change: +0.53 stop: 28.70

JOYG is still struggling with resistance near $38.00. We might want to change strategies and instead of waiting for a dip near $31.00 readers might want to buy a breakout over $38.00 (with a much higher stop loss). For now the plan is to buy JOYG at $31.00. That may be wishful thinking.

Entry on      June xx at $xx.xx <-- see TRIGGER  
Change since picked:     + 0.00   			
Earnings Date          09/03/09 (unconfirmed)    
Average Daily Volume:       5.3 million 
Listed on  June 23, 2009    


Legg Mason - LM - close: 24.59 change: +0.21 stop: 23.49

LM continues to churn sideways in a narrow range. Our plan is to buy LM at $25.75. If we are triggered at $25.75 our target is $29.75. Currently the Point & Figure chart is bullish with a $39.50 target. We do not want to hold over the late July earnings report.

Entry on      June xx at $xx.xx <-- see TRIGGER  
Change since picked:     + 0.00   			
Earnings Date          07/23/09 (unconfirmed)    
Average Daily Volume:       5.2 million 
Listed on  June 27, 2009    


MEDNAX Inc. - MD - close: 43.39 change: +1.26 stop: 39.85

We did not have to wait very long for MD to hit our trigger. The stock rallied past its mid June high and hit our trigger at $43.01. Volume was pretty decent considering the holiday week. The MACD has produced a new buy signal on the daily chart. Our first target is $47.40.

chart:

Entry on      July 01 at $43.01 *triggered       
Change since picked:     + 0.38   			
Earnings Date          08/03/09 (unconfirmed)    
Average Daily Volume:       367 thousand
Listed on  June 30, 2009    


Morgan Stanley - MS - close: 28.36 change: -0.15 stop: 26.95

Financials were under performers on Wednesday and MS gave up 0.5%. If we see another bounce from the 50-dma I would buy it. Our first target is $31.75. FYI: The Point & Figure chart is bullish with a $46 target.

Entry on      June 26 at $28.60 *triggered       
Change since picked:     - 0.24   			
Earnings Date          07/22/09 (unconfirmed)    
Average Daily Volume:      29.4 million 
Listed on  June 23, 2009    


Pharma Prod. Dev. - PPDI - close: 22.75 chg: -0.47 stop: 21.95

The action in PPDI today is disappointing. The stock's 2% decline casts an ominous shadow. Instead of breaking out over resistance near $23.50 the stock now looks like it could fail. I would hesitate to buy this dip.

More conservative traders may want to consider a stop closer to $22.25. Our first target is $25.90 (or its 200-dma). FYI: The Point & Figure chart is bullish with a $31.00 target.

Entry on      June 18 at $23.38 /gap higher entry
                              /originally listed at $23.05
Change since picked:     - 0.63   			
Earnings Date          07/21/09 (unconfirmed)    
Average Daily Volume:       1.5 million 
Listed on  June 18, 2009    


Vodafone Group - VOD - close: 19.69 change: +0.20 stop: 18.85

European markets were pretty strong with most of the major indices up 2% or more. VOD only managed a 1% gain as it rolled over this afternoon. Look for a dip in the $19.50-19.30 zone as a new entry point.

I consider this an aggressive buy under $20.00. More conservative traders may want to wait for the breakout (consider $20.25 as an alternative entry point but you may want to adjust your stop and targets). Our first target is $20.75. Our second target is $21.85. The P&F chart is bullish with a $23 target.

Entry on      June 29 at $19.52 
Change since picked:     + 0.17   			
Earnings Date          11/10/09 (unconfirmed)    
Average Daily Volume:       4.2 million 
Listed on  June 29, 2009    


Western Digital - WDC - close: 26.80 chg: +0.30 stop: 23.95

WDC hit new multi-month highs this morning but the stock failed to hold most of its gains. Look for another dip near $26.00 before opening new positions. More conservative traders may want to raise their stops toward $25.00. Our first target is $29.75.

Entry on      June 25 at $26.10 *triggered       
Change since picked:     + 0.70   			
Earnings Date          07/23/09 (unconfirmed)    
Average Daily Volume:       4.6 million 
Listed on  June 24, 2009    


Wellpoint Inc. - WLP - close: 51.25 change: +0.36 stop: 47.85

WLP delivered a temporary breakout over resistance at $52.00 early this afternoon. Shares failed to hold the breakout but it was a decent effort on above average volume. I would still consider opening new bullish positions near the $50.00-49.50 zone. Our first target is $54.00. Our second target is $57.40.

Entry on      June 22 at $49.25 *triggered       
Change since picked:     + 2.00   			
Earnings Date          07/29/09 (unconfirmed)    
Average Daily Volume:       4.4 million 
Listed on  June 20, 2009    


U.S. Steel - X - close: 34.79 change: -0.95 stop: 33.35

Our aggressive bet on X is really not shaping up very well. Today's relative weakness (-2.6%) and close under $35.00 and its 30-dma and 200-dma is a bearish development. Any conservative traders in this trade will want to strongly consider an early exit now. I'm not suggesting new positions at this time.

We're using a relatively wide stop loss due to the stocks recent volatility. Because this is an aggressive, higher-risk trade I would only trade half or less than your normal position size. Our first target is $39.95. Our second target is $42.50.

Entry on      June 27 at $37.39 /gap higher entry
                              /originally listed at $36.91
Change since picked:     - 2.60   			
Earnings Date          07/28/09 (unconfirmed)    
Average Daily Volume:      17.8 million 
Listed on  June 27, 2009    


Dentsply Intl. - XRAY - close: 30.48 change: -0.09 stop: 28.95

Nothing has changed for us with XRAY. The stock is still consolidating sideways. Investors are still buying dips in the $30.50-30.00 zone. Our first target to take profits is $33.90. The Point & Figure chart is very bullish with a $47 target.

Entry on      June 25 at $30.87 
Change since picked:     - 0.39   			
Earnings Date          07/29/09 (unconfirmed)    
Average Daily Volume:       1.0 million 
Listed on  June 25, 2009    


BEARISH Play Updates

DuPont - DD - close: 25.80 change: +0.18 stop: 27.05

DD produced another short-term failed rally near $26.20 today. This could be our entry point for new short positions. Our first target $22.25. Our second target is $20.25.

Entry on      June 16 at $25.20 
Change since picked:     + 0.60   			
Earnings Date          07/21/09 (unconfirmed)    
Average Daily Volume:       9.1 million 
Listed on  June 16, 2009    


iShares Mexico - EWW - close: 37.19 change: +0.33 stop: 38.05

Shares of EWW rallied higher this morning following strength in the U.S. market. The rally faded and I am still tempted to open new short positions here. Our target is $30.25.

Entry on      June 22 at $34.92 
Change since picked:     + 2.27   			
Earnings Date          00/00/00 
Average Daily Volume:       3.9 million 
Listed on  June 22, 2009    


Gamestop - GME - close: 22.46 change: +0.45 stop: 25.05

Nothing has changed for GME. The stock has spent more than a week consolidating sideways. The path of least resistance is down so I'm expecting the next move to be lower. More conservative traders might want to consider a stop loss near $24.50ish. The stock has already hit our first target at $22.05. Our second target to take profits is $20.25. Our third target is $18.15.

Entry on      June 02 at $24.32 
Change since picked:     - 1.86
                              /1st target hit @ 22.05 (-9.3%)
Earnings Date          08/20/09 (unconfirmed)    
Average Daily Volume:       6.3 million 
Listed on  June 02, 2009    


Gen-Probe - GPRO - close: 42.92 change: -0.09 stop: 44.05

GPRO is still consolidating under resistance near $44.00. I would consider new positions here. Our first target is $38.05. Our second target is $35.25.

Entry on      June 23 at $42.03 /gap higher entry
                             /originally listed at $41.64
Change since picked:     + 0.89   			
Earnings Date          07/30/09 (unconfirmed)    
Average Daily Volume:       449 thousand
Listed on  June 23, 2009    


iShares Materials - MXI - close: 47.09 change: +0.56 stop: 48.25

This industry got a bounce this morning but it quickly faded and the MXI closed with a 1.2% gain. This almost looks like a failed rally under the 20 and 30-dma. MXI has already hit our first target at $44.00. Our second target is $41.00.

Entry on      June 16 at $47.55 
Change since picked:     - 0.46
                              /1st target hit 44.00 (-7.4%)
Earnings Date          00/00/00 
Average Daily Volume:       170 thousand
Listed on  June 16, 2009    


Raytheon - RTN - close: 44.89 change: +0.46 stop: 46.55

RTN erased about half of yesterday's losses. Use the bounce as a new entry point for bearish positions. Our first target is $40.25. The P&F chart is very bearish with a $13 target.

Entry on      June 24 at $44.22 
Change since picked:     + 0.67   			
Earnings Date          07/23/09 (unconfirmed)    
Average Daily Volume:       3.5 million 
Listed on  June 24, 2009    


Homebuilders ETF - XHB - close: 11.77 change: +0.02 stop: 12.55

Volume was very light and the early morning bounce in the XHB faded lower throughout the rest of the session. This can be used as a new entry point for bearish positions. More conservative traders may want to lower their stops.

Our target is $10.10. I am tempted to set a longer-term target in the $9.00-8.00 region.

Entry on       May 23 at $11.96 
Change since picked:     - 0.19   			
Earnings Date          00/00/00
Average Daily Volume:        10 million 
Listed on   May 23, 2009