BULLISH Play Updates

Alcoa - AA - close: 10.20 change: +0.06 stop: 8.94

AA managed a bounce from the $10.00 level and its 10-dma but shares still look poised to move lower. I'm suggesting readers buy AA on a dip at $9.15 and a stop loss at $8.94. Our first target is $10.90. Our second target is $12.25. FYI: The Point & Figure chart is very bullish with a $19.50 target.

Entry on      July xx at $xx.xx <-- TRIGGER @ 9.15
Change since picked:     + 0.00   			
Earnings Date          07/08/09 (confirmed)    
Average Daily Volume:        41 million 
Listed on  July 16, 2009    


Ameron Intl. - AMN - close: 71.61 change: +0.05 stop: 65.95

Momentum in AMN appears to be stalling. Readers may want to raise their stop loss even further. I'm not suggesting new positions at this time. 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.

Entry on      July 16 at $70.50 *triggered       
Change since picked:     + 1.11   			
Earnings Date          09/21/09 (unconfirmed)    
Average Daily Volume:       150 thousand
Listed on  July 15, 2009    


Aegean Marine Petrol. - ANW - close: 17.45 change: -0.01 stop: 14.95

ANW is going nowhere fast. Shares continue to hover in the $17-18 zone.

Our plan is to buy ANW on a dip in the $16.25-16.00 zone. More conservative traders might be able to get away with a stop in the 15.50-16.00 region. If triggered at $16.25 our first target to take profits is at $18.25. Our second target is $19.75.

Entry on      July xx at $xx.xx <-- TRIGGER  16.25
Change since picked:     + 0.00   			
Earnings Date          08/12/09 (unconfirmed)    
Average Daily Volume:       284 thousand
Listed on  July 18, 2009    


Diana Shipping - DSX - close: 14.18 change: -0.28 stop: 12.70

The rally is fading in DSX and shares look ready to break $14.00 soon. The plan is to buy a dip in the $13.50-13.00 zone. 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    


Hormel Foods - HRL - close: 35.32 change: +0.21 stop: 34.20

Nothing has changed for HRL but it's a little easier to see the new buy signal on the MACD indicator. More aggressive traders may want to put their stop under $34.00 or under the July low of $33.73. My first target is $37.90. My second target is $39.90. My time frame is mid to late August because we need to exit in front of earnings. FYI: The Point & Figure chart is very bullish with a $50 target.

Entry on      July 20 at $35.40 /gap higher entry
                              /originally listed at $35.25
Change since picked:     - 0.08   			
Earnings Date          08/20/09 (unconfirmed)    
Average Daily Volume:       486 thousand
Listed on  July 20, 2009    


J.P.Morgan Chase - JPM - close: 36.83 change: -0.11 stop: 33.90

We are still waiting for a pull back in JPM. We want to buy a dip at $35.25. Our first target is 38.75.

Entry on      July xx at $xx.xx <-- see TRIGGER  
Change since picked:     + 0.00   			
Earnings Date          07/16/09 (confirmed)    
Average Daily Volume:        55 million 
Listed on  July 18, 2009    


NATCO Group - NTG - close: 35.38 change: -0.40 stop: 31.49

NTG gapped lower this morning but traders bought the dip and trimmed the loss to just 1.1%. More conservative traders may want to strongly consider taking some profits right here and now. Our exit target is $37.50. We do not want to hold over the early August earnings report.

Entry on      July 15 at $32.56 *triggered/gap higher entry
Change since picked:     + 2.82   			
Earnings Date          08/03/09 (unconfirmed)    
Average Daily Volume:       270 thousand
Listed on  July 14, 2009    


UltraShort QQQ - QID - close: 28.34 change: -0.43 stop: 26.75

Our aggressive buy the gap down play in QID hasn't shaped up exactly how we envisioned it but the crystal ball was a little blurry yesterday. The plan was to buy QID at the open or shortly after the open in hopes of catching the low as the NASDAQ-100 spiked higher on AAPL's earnings news. Well the NASDAQ and AAPL did rally higher but QID didn't hit its low for the day until after lunchtime. Volume is definitely picking up in shares of QID. It makes me wonder if other traders had the same idea.

Initially our plan was to set our stop loss at $2.00 under our entry point. The QID opened at $28.75, which would make our stop at $26.75. More conservative traders might want to raise that stop toward the $27.50 level. At this point readers might want to wait for a bounce back above $29.00 before considering any aggressive bullish positions. I suggested traders only use very small position sizes (25% of normal). Our first target is $31.95.

Entry on      July 22 at $28.75 
Change since picked:     - 0.41   			
Earnings Date          00/00/00 
Average Daily Volume:        19 million 
Listed on  July 21, 2009    


Ross Stores - ROST - close: 43.91 change: +0.49 stop: 39.95

ROST spiked to a new all-time high and closed with a 1.1% gain. We want to keep an eye on the RLX retail index, which is nearing resistance. If the RLX rolls over ROST could follow. More conservative traders may want to take some profits off the table right now! 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:     + 2.60   			
Earnings Date          08/20/09 (unconfirmed)    
Average Daily Volume:       2.4 million 
Listed on  July 13, 2009    


BEARISH Play Updates

Gen-Probe - GPRO - close: 39.59 change: +0.07 stop: 42.01

GPRO delivered a fractional bounce but remains under resistance near $40 and its 10-dma. 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:     - 1.85   			
Earnings Date          07/30/09 (unconfirmed)    
Average Daily Volume:       449 thousand
Listed on  June 23, 2009    


Humana Inc. - HUM - close: 29.38 change: -0.06 stop: 31.05

Entry point alert! HUM offered us another great entry point in the $29.50-30.00 zone today. I would still consider new positions now. More conservative traders may want to consider a stop loss closer to $30.00. Our target is $25.25.

Entry on      July 16 at $29.50 *triggered       
Change since picked:     - 0.12   			
Earnings Date          08/03/09 (confirmed)    
Average Daily Volume:       3.1 million 
Listed on  July 14, 2009    


Intl. Speedway - ISCA - close: 24.97 chg: +0.48 stop: 27.05

The rebound in ISCA was a little unexpected. I couldn't find any news to account for the relative strength. Shares pretty much erased yesterday's losses. Readers may want to give another thought to lowering their stop loss toward $26.50 or the $26.00 level. 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:     + 0.22   			
Earnings Date          07/07/09 (confirmed)    
Average Daily Volume:       342 thousand
Listed on  July 08, 2009    


Usana Health Sciences - USNA - close: 25.86 chg: +1.02 stop: 28.21

I cautioned traders to expect a little oversold bounce. We got it with USNA nearing $26.00. I am suggesting readers open new positions now or you can wait for the bounce to reach the $26.00-27.00 zone to launch positions.

Please note that I consider this an aggressive, higher-risk trade because shares have very, very low daily volume (54,000) and the stock has above average short interest (about 12%). That's not a great combination should a short squeeze appear. I am suggesting traders only use very small position sizes (at least half or less than your normal trade size). My first target to take profits is $21.00.

Entry on      July 20 at $25.29 /gap higher entry
                              /originally listed at $25.05
Change since picked:     + 0.57   			
Earnings Date          07/28/09 (confirmed)    
Average Daily Volume:        54 thousand
Listed on  July 20, 2009