BULLISH Play Updates

Ameron Intl. - AMN - close: 70.57 change: +1.33 stop: 64.95

The rally in AMN continued and shares broke out past resistance at $70.00 and its early July high. Our trigger to buy the stock was hit at $70.50 this afternoon. I have two concerns with today's move. Volume was pretty light and the S&P 500 is looking tired after a 7% rally. AMN's stock is saying it's a buy right here but more patient traders may want to consider waiting for a dip near $68.00. Our target is $79.50. My time frame is six to eight weeks. I do consider this somewhat aggressive because AMN does not trade with a lot of volume.

chart:

Entry on      July 16 at $70.50 *triggered       
Change since picked:     + 0.07   			
Earnings Date          09/21/09 (unconfirmed)    
Average Daily Volume:       150 thousand
Listed on  July 15, 2009    


Diana Shipping - DSX - close: 14.38 change: +0.09 stop: 12.70

Hmm... did we miss it? I was expecting a dip in DSX and set our trigger to buy it at $13.80. The stock dipped to $13.90 this morning and bounced. More aggressive traders may want to take another look but I would be concerned by the super light volume today. I'm sticking to our plan with the $13.80-13.50 zone and honestly, I'd wait for a dip closer to $13.50 before launching positions. Our first target is $16.40.

Entry on      July xx at $xx.xx <-- see TRIGGER  
Change since picked:     + 0.00   			
Earnings Date          08/06/09 (unconfirmed)    
Average Daily Volume:      1.27 million 
Listed on  July 15, 2009    


Double-Long Oil ETN - DXO - close: 3.85 change: +0.11 stop: 3.28

Oil was showing some weakness this morning but the commodity turned around and the DXO closed up with a 2.9% gain. Shares almost hit our first target. I would plan on taking some profits tomorrow based on the strong close.

Our first target to take profits is $3.90. Our second target is $4.20. We want to exit the majority of our position at the first target. FYI: Keep an eye on the U.S. dollar. A weak dollar should boost oil prices.

Entry on      July 09 at $ 3.48 /gap down entry
                              /originally listed at $3.60
Change since picked:     + 0.37   			
Earnings Date          00/00/00 
Average Daily Volume:      12.4 million 
Listed on  July 09, 2009    


MEDNAX Inc. - MD - close: 42.80 change: -0.05 stop: 41.90

I'm tempted to drop MD for its lackluster performance but if you drill down to an intraday chart you can still see the bullish trend of higher lows. I'm not suggesting new positions at this time. Our first target is $47.40.

Entry on      July 01 at $43.01 *triggered       
Change since picked:     - 0.21   			
Earnings Date          08/03/09 (unconfirmed)    
Average Daily Volume:       367 thousand
Listed on  June 30, 2009    


Morgan Stanley - MS - close: 28.56 change: -0.24 stop: 25.95

After a big move from $25.00 to $29.30 MS finally rested with a dip back toward $28.00. More conservative traders might want to raise their stops. I'm not suggesting new bullish positions. MS has exceeded our first target at $27.75. Our second target is $29.75. We don't want to hold over the late July earnings so the play may close early.

--New Trade, buy dip @ 25.25 --
Entry on      July 08 at $25.25 *triggered       
Change since picked:     + 3.31
                              /1st target hit @ 27.75 (+9.9%)
Earnings Date          07/22/09 (unconfirmed)    
Average Daily Volume:      29.4 million 
Listed on  June 23, 2009    


NATCO Group - NTG - close: 33.85 change: +0.45 stop: 29.75

Energy stocks continue to rise and NTG gained another 1.3%. Today's move is also a break above the 30-dma. More conservative traders may want to consider adjusting their stop loss a little higher. There is some resistance at $34.00 but our target is $37.50. We do not want to hold over the early August earnings report. FYI: The MACD indicator just produced a new buy signal on the daily chart.

Entry on      July 15 at $32.56 *triggered/gap higher entry
Change since picked:     + 1.29   			
Earnings Date          08/03/09 (unconfirmed)    
Average Daily Volume:       270 thousand
Listed on  July 14, 2009    


Ross Stores - ROST - close: 43.62 change: +0.48 stop: 39.95

ROST continues to soar. Shares gained another 1.1%. I'm not suggesting new bullish positions at this time. Our first target is $45.75. Our second target is $49.45. My time frame is about six weeks.

Entry on      July 13 at $41.60 
Change since picked:     + 2.02   			
Earnings Date          08/20/09 (unconfirmed)    
Average Daily Volume:       2.4 million 
Listed on  July 13, 2009    


Tupperware - TUP - close: 28.77 change: +0.68 stop: 24.95

TUP is showing more strength than expected. We want to buy a dip but shares keep climbing. Our plan is to buy TUP on a dip at $26.50 but we might want to consider raising that toward $27.00. Our target is $29.75. I would be tempted to aim higher but we don't have a lot of time. The Point & Figure chart is very bullish with a $56 target. We don't want to hold over earnings.

Entry on      July xx at $xx.xx <-- see TRIGGER  
Change since picked:     + 0.00   			
Earnings Date          07/22/09 (confirmed)    
Average Daily Volume:       521 thousand
Listed on  July 14, 2009    


Western Digital - WDC - close: 28.87 chg: +1.18 stop: 26.10 *new*

WDC is out performing the NASDAQ and the disk drive index with a 4.2% gain. The stock is hitting new ten-month highs. I am raising our stop loss to $26.10. Our target to exit is $29.75.

Entry on      June 25 at $26.10 *triggered       
Change since picked:     + 2.77   			
Earnings Date          07/23/09 (unconfirmed)    
Average Daily Volume:       4.6 million 
Listed on  June 24, 2009    


BEARISH Play Updates

Gamestop - GME - close: 22.15 change: +0.51 stop: 22.65

Attention! Traders may want to exit completely right now. GME is showing more strength than expected and soared from the $21 level to breakout over $22.00, which should have been tougher resistance. I'm not suggesting new positions at this time.

GME has now hit our first target at $22.05 and our second target at $20.25. We are now aiming for our third and final target at $18.15.

Entry on      June 02 at $24.32 
Change since picked:     - 2.17
                              /1st target hit @ 22.05 (-9.3%)
                             /2nd target hit @ 20.25 (-16.7%)
Earnings Date          08/20/09 (unconfirmed)    
Average Daily Volume:       6.3 million 
Listed on  June 02, 2009    


Gen-Probe - GPRO - close: 40.20 change: +0.35 stop: 43.55

The oversold bounce in GPRO remains anemic. I'm not suggesting new positions at this time. Our first target is $38.05. Our second target is $35.25. FYI: The P&F chart is bearish with a $32.00 target.

Entry on      June 23 at $42.03 /gap higher entry
                             /originally listed at $41.64
Change since picked:     - 1.83   			
Earnings Date          07/30/09 (unconfirmed)    
Average Daily Volume:       449 thousand
Listed on  June 23, 2009    


Humana Inc. - HUM - close: 29.36 change: +0.84 stop: 31.05

Our new play in HUM has been triggered. Shares rallied to $29.69 this afternoon before paring its gains. Our plan was to open bearish positions in the $29.50-30.00 zone. Our target is $25.25.

chart:

Entry on      July 16 at $29.50 *triggered       
Change since picked:     - 0.14   			
Earnings Date          08/03/09 (confirmed)    
Average Daily Volume:       3.1 million 
Listed on  July 14, 2009    


Intl. Speedway - ISCA - close: 25.40 chg: -0.01 stop: 27.05

The rebound in ISCA is stalling and volume is fading. Shares spent the session bouncing around the $25.00-25.50 zone. I am tempted to launch new bearish positions right here but I would hesitate with the market in rally mode.

I'm suggesting a stop loss at $27.05 but more conservative traders may want to try a stop closer to $26.00. Our first target is $22.10. Our second target is $20.25. My time frame is six to eight weeks.

Entry on      July 09 at $24.75 *triggered       
Change since picked:     + 0.65   			
Earnings Date          07/07/09 (confirmed)    
Average Daily Volume:       342 thousand
Listed on  July 08, 2009    


Medtronic Inc. - MDT - close: 34.64 change: +0.10 stop: 35.20

MDT is also seeing its rally run out of steam after a five-day surge. I'm not suggesting new positions at this time. We'll wait and watch for a failed rally in the $34.00-35.00 zone. More conservative traders may want to just exit early right now and step to the sidelines to wait for a new entry point. Our first target to take profits is $30.10. Our second target is $28.25.

Entry on      July 11 at $32.80 
Change since picked:     + 1.84   			
Earnings Date          08/18/09 (unconfirmed)    
Average Daily Volume:       6.3 million 
Listed on  July 11, 2009    


Walgreen Co. - WAG - close: 29.39 change: -0.60 stop: 30.31 *new*

WAG erased yesterday's gains with a 2% decline on Thursday. This could be the sort of failed rally we're looking for but I still hesitate to launch new bearish trades with the S&P 500 still marching higher. The 50-dma is at $30.28 so I'm lowering the stop loss to $30.31. Our first target is $26.10.

Entry on      July 11 at $28.84 
Change since picked:     + 0.55   			
Earnings Date          09/21/09 (unconfirmed)    
Average Daily Volume:       8.4 million 
Listed on  July 11, 2009    


CLOSED BEARISH PLAYS

Raytheon - RTN - close: 45.50 change: +0.98 stop: 45.75

Defense stocks continued to bounce and the rally in RTN was just strong enough to hit our stop loss at $45.75. Shares managed to pierce technical resistance at its 200-dma and then reverse in the last 30-minutes. We could argue that the stop loss may have been too tight. More nimble traders may want to re-start bearish trades if RTN closes under $44.50 or $44.00 again soon.

chart:

Entry on      June 24 at $44.22 
Change since picked:     + 1.53 <-- stopped @ 45.75 (+3.4%)
Earnings Date          07/23/09 (unconfirmed)    
Average Daily Volume:       3.5 million 
Listed on  June 24, 2009    


Homebuilders ETF - XHB - close: 12.31 change: +0.41 stop: 12.10

Short covering in some of the larger homebuilders produced some strong gains and the XHB broke through resistance at $12.00 and its 200-dma. This could be a significant turning point but I wouldn't buy it here.

chart:

Entry on       May 23 at $11.96 
Change since picked:     + 0.14 <-- stopped @ 12.10 (+1.1%)
Earnings Date          00/00/00
Average Daily Volume:        10 million 
Listed on   May 23, 2009