BULLISH Play Updates

Ameron Intl. - AMN - close: 73.68 change: -0.68 stop: 69.95

There is no change from yesterday's update. More conservative traders may want to start taking some money off the table now. I'm not suggesting new bullish positions at this time. We want to take profits at $74.70. Our second target is $79.50. 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:     + 3.18   			
Earnings Date          09/21/09 (unconfirmed)    
Average Daily Volume:       150 thousand
Listed on  July 15, 2009    


Aegean Marine Petrol. - ANW - close: 17.43 change: -0.45 stop: *varies*

The short-term trend may be changing. If you check out a 30-minute chart on ANW you can see that shares broke the pattern of higher lows today and the afternoon bounce started to fail before the close. This might be forecasting a drop toward our lower trigger.

Currently we have two triggers. We have a buy the dip trigger at $16.50. If triggered at $16.50 our first target is $18.20 and our second target is $19.75. Our stop loss will be $14.90.

Our breakout trigger is at $18.25. If ANW hits our breakout trigger we only want to buy 1/2 or 1/4 of our normal position size because it's a higher-risk entry point. If triggered at $18.25 our target is $19.75.

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


Hormel Foods - HRL - close: 36.04 change: +0.12 stop: 34.20

HRL continues to look strong. Traders bought the dip again and HRL closed above $36.00. If the market wasn't so overbought I'd be a lot more bullish on HRL. I still expect HRL to contract if the market corrects so I'm not suggesting new positions at this time. 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:     + 0.64   			
Earnings Date          08/20/09 (unconfirmed)    
Average Daily Volume:       486 thousand
Listed on  July 20, 2009    


IDEX Corp. - IEX - close: 27.54 change: +0.21 stop: 24.75

We are waiting for a correction toward previous resistance and what should be new support. I'm suggesting a trigger to buy IEX at $26.10 but readers could use a $26.25-25.00 zone as an entry range. The Point & Figure chart is bullish and points to a $39.00 target. If we are triggered near $26.00 our first target is $29.85. My time frame is six to eight weeks.

Entry on      July xx at $xx.xx <-- see TRIGGER  
Change since picked:     + 0.00   			
Earnings Date          07/20/09 (confirmed)    
Average Daily Volume:       570 thousand
Listed on  July 25, 2009    


J.P.Morgan Chase - JPM - close: 38.08 change: -0.05 stop: 33.90

I know this gets pretty boring but we have to be patient here. The current rally is running out of steam and JPM has not yet broken past the May highs. The plan is to buy JPM on a dip at $35.50. Our first target is 38.75. Our time frame is four to six weeks. FYI: JPM's P&F chart is bullish with a $51 target.

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    


LDK Solar Co. - LDK - close: 11.29 change: -0.70 stop: 9.49

Solar stocks are a volatile sector and LDK displayed some volatility today with a 5.8% drop. The relative weakness is a little surprising. Rival Sunpower (SPWRA) reported earnings last night that beat the earnings and revenue estimates and SPWRA guided earnings higher. You'd think with news like that the sector would show some strength. SPWRA gained about 1.8% but many of its peers trended lower. That's okay. We're waiting for a correction to buy LDK.

We want to jump in on a dip at $10.25. The $10.00 level should offer support and the level is underpinned by the 50-dma. We'll start with a stop loss at $9.45 but more conservative traders could try a tighter stop. If triggered our first target is $11.80. We won't have a lot of time. Earnings are due out around August 12th.

Entry on      July xx at $xx.xx <-- see TRIGGER  
Change since picked:     + 0.00   			
Earnings Date          08/12/09 (confirmed)    
Average Daily Volume:       4.0 million 
Listed on  July 25, 2009    


Morgan Stanley - MS - close: 27.43 change: -0.62 stop: 24.90

MS is inching lower. We continue to wait for MS to dip back toward its trendline of support and its rising 100-dma. We want to buy MS on a dip at $26.25. Our first target is $29.20. Our second target is $31.00.

Note: We might want to consider a buy the breakout entry point at $29.35.

Entry on      July xx at $xx.xx <-- see TRIGGER  
Change since picked:     + 0.00   			
Earnings Date          07/22/09 (confirmed)    
Average Daily Volume:        24 million 
Listed on  July 23, 2009    


Microsoft - MSFT - close: 23.47 change: +0.36 stop: 21.99

MSFT erased yesterday's losses with a 1.5% rally today. While this move is bullish I suggest readers wait for a deeper decline before launching new positions. Our stop loss is $21.99, which doesn't give MSFT much room. More aggressive traders may want to widen their stop loss to under $21.00 or under $20.00 depending on your risk tolerance. If the market corrects MSFT could easily dip toward $22.00, which is where we might want to double down. Our ten to twelve week target will be $27.75.

Entry on      July 27 at $23.00
Change since picked:     + 0.47   			
Earnings Date          07/23/09 (confirmed)    
Average Daily Volume:        58 million 
Listed on  July 23, 2009    


NATCO Group - NTG - close: 35.53 change: -1.48 stop: 33.90

Uh-oh! The correction in NTG may have started. I did not see any company specific news but shares lost 3.99% and it looked worse midday. I continue to suggest that more conservative traders may want to take profits now. Our final exit is the $37.50 mark. I'm not suggesting new positions.

Entry on      July 15 at $32.56 *triggered/gap higher entry
Change since picked:     + 2.97   			
                              /sell 1/2 @ 36.65 (+12.5%)
Earnings Date          08/03/09 (unconfirmed)    
Average Daily Volume:       270 thousand
Listed on  July 14, 2009    


Ross Stores - ROST - close: 44.17 change: +0.11 stop: 41.60

The RLX retail index managed to close in positive territory in spite the fact that consumer confidence is slipping. Investors should be more concerned about the back-to-school shopping season. Shares of ROST managed a minor gain. I'm not suggesting new positions at this time.

If you haven't taken any profits yet I strongly suggest you do so now (at least 1/2). Our next target is $45.75. Our final target is $49.45. My time frame is about six weeks.

Entry on      July 13 at $41.60 
Change since picked:     + 2.57
                              /sell half @ 44.00 (+5.7%)
Earnings Date          08/20/09 (unconfirmed)    
Average Daily Volume:       2.4 million 
Listed on  July 13, 2009    


SBS - close: 33.50 change: +0.16 stop: 28.75

We don't want to chase this breakout rally in SBS. Shares are short-term overbought. I'm sticking to our buy the dip entry at $30.00 but we might want to up our trigger to the $31.15-31.00 zone. Our first target is $34.50. Earnings are due out in early August but the date is not confirmed.

Entry on      July xx at $xx.xx <-- see TRIGGER  
Change since picked:     + 0.00   			
Earnings Date          08/07/09 (unconfirmed)    
Average Daily Volume:       249 thousand
Listed on  July 25, 2009    


BEARISH Play Updates

*We currently do not have any bearish play updates*


CLOSED BULLISH PLAYS

UltraShort QQQ - QID - close: 26.84 change: -0.14 stop: 26.75

Our super-aggressive bet that the NASDAQ was topping out has closed. The NASDAQ-100 index (NDX) has continued to inch higher and that pushed the QID to our stop loss at $26.75. We knew this was a very aggressive, contrarian play and suggested readers only trade small positions.

The market will eventually correct so keep an eye on the QID as a possible trading vehicle.

chart:

Entry on      July 22 at $28.75 
Change since picked:     - 2.00<-- stopped @ 26.75 (-6.9%)
Earnings Date          00/00/00 
Average Daily Volume:        19 million 
Listed on  July 21, 2009    


CLOSED BEARISH PLAYS

Charles River Labs - CRL - close: 32.17 chg: +0.92 stop: 32.15

Biotech stocks rallied on the AMGN news and CRL gained 2.9%. The stock broke through several moving averages and broke through the $32.00 level of resistance hitting our stop at $32.15.

chart:

Entry on      July 23 at $30.94 *new entry point
Change since picked:     + 1.21<-- stopped out @ 32.15 (+3.9%)
Earnings Date          08/04/09 (confirmed)    
Average Daily Volume:       459 thousand
Listed on  July 22, 2009    


Gen-Probe - GPRO - close: 41.84 change: +0.43 stop: 42.01

The bounce in GPRO has now hit six days in a row. Shares rallied past resistance near $42.00 and its 50-dma on above average volume. The stock hit our stop loss at $42.01 closing the play. I strongly suspect that this rebound is going to fail. I would keep GPRO on your watch list.

chart:

Entry on      June 23 at $42.03 /gap higher entry
                             /originally listed at $41.64
Change since picked:     - 0.02 <-- stopped @ 42.01 (-0.0%)			
Earnings Date          07/30/09 (confirmed)    
Average Daily Volume:       449 thousand
Listed on  June 23, 2009    


Intl. Speedway - ISCA - close: 25.46 chg: +0.31 stop: 26.15

I'm giving up on ISCA as a bearish play - at least for now. Let's cut our losses early. The S&P 500 is being magnetically pulled toward the 1000 level. That could be enough to spark a bullish breakout in ISCA from this consolidation pattern. Exit now.

chart:

Entry on      July 09 at $24.75 *triggered       
Change since picked:     + 0.70<-- exit early @ 25.46 (+2.8%)
Earnings Date          07/07/09 (confirmed)    
Average Daily Volume:       342 thousand
Listed on  July 08, 2009    


Usana Health Sciences - USNA - close: 29.41 chg: +1.42 stop: 28.21

The short-squeeze in USNA is picking up speed again. The stock's bounce has now reached fifth gain in a row. Today's move is a bullish breakout over resistance near $28.00 and its simple and exponential 200-dma. We knew this was going to be an aggressive play and that's why we suggested small position sizes. Our trade was stopped at $28.21.

chart:

Entry on      July 20 at $25.29 /gap higher entry
                              /originally listed at $25.05
Change since picked:     + 2.92 <-- stopped @ 28.21 (+11.5%)
Earnings Date          07/28/09 (confirmed)    
Average Daily Volume:        54 thousand
Listed on  July 20, 2009