BULLISH Play Updates

Ameron Intl. - AMN - close: 75.69 change: +2.40 stop: 70.95 *new*

Target achieved. The market's break higher has allowed AMN to burst through resistance near $75.00. Our first target to take profits was at $74.70. I'm upping the stop loss again to $70.95. Our second and final target to exit is $79.50.

chart:

Entry on      July 16 at $70.50 *triggered       
Change since picked:     + 5.19
                              /1st target hit @ 74.70 (+5.9%)
Earnings Date          09/21/09 (unconfirmed)    
Average Daily Volume:       150 thousand
Listed on  July 15, 2009    


Aegean Marine Petrol. - ANW - close: 16.77 change: +0.17 stop: 14.90

The bounce in ANW failed near $17.00 today. This is short-term bearish. I am still expecting a dip near $16.00 and its 50-dma. More conservative traders may want to use a stop closer to $16.00. Our stop is at $14.90. Our first target is $18.20 and our second target is $19.75.

Entry on      July 29 at $16.50 *triggered      
Change since picked:     + 0.27   			
Earnings Date          08/12/09 (unconfirmed)    
Average Daily Volume:       284 thousand
Listed on  July 18, 2009    


Electronic Arts - ERTS - close: 21.13 change: +0.38 stop: 20.49.

ERTS got a little bit of a boost this morning after one analyst firm started coverage on the stock with a "buy" rating. Unfortunately the rally stalled near its 50-dma. ERTS gave back most of its gains. I would only consider new bullish positions on another bounce near $20.75-20.50. I do expect some resistance near $22.00 but we're going to aim for the $22.95 mark. This is a short-term plan and we'll exit before the August 4th earnings.

Entry on      July 28 at $21.10 
Change since picked:     + 0.03   			
Earnings Date          08/04/09 (confirmed)    
Average Daily Volume:       6.5 million 
Listed on  July 28, 2009    


Hormel Foods - HRL - close: 36.19 change: +0.15 stop: 34.20

HRL lagged the rest of the market. Shares did hit new relative highs over $36.50 but HRL closed with a 0.4% gain. Nothing has changed from my prior comments. 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:     + 0.79   			
Earnings Date          08/20/09 (unconfirmed)    
Average Daily Volume:       486 thousand
Listed on  July 20, 2009    


IDEX Corp. - IEX - close: 27.64 change: +0.44 stop: 24.75

IEX continues to rally but it failed near short-term resistance at $28.00. Nothing has changed from my previous comments.

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: 38.47 change: +0.70 stop: 33.90

JPM briefly traded over resistance near $39.00 but pared its gains. Nothing has changed. We're still waiting for a correction.

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: 11.19 change: +0.12 stop: 9.49

We may have to give up trying to buy LDK on a dip. Rival First Solar (FSLR) reported earnings tonight that were better than expected and shares of FSLR are soaring higher after hours. This could give LDK a nice bullish boost tomorrow. I'm not willing to give up yet.

We want to jump into LDK 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: 28.36 change: +1.20 stop: 25.75

MS rallied with the rest of the financials and the stock posted a 4.4% gain. Nothing has changed for us. We're waiting to buy the stock on a dip at $26.55. If triggered 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 <-- TRIGGER @ 26.55
Change since picked:     + 0.00   			
Earnings Date          07/22/09 (confirmed)    
Average Daily Volume:        24 million 
Listed on  July 23, 2009    


Microsoft - MSFT - close: 23.81 change: +0.01 stop: 21.99

I would be cautious on MSFT. The stock hit $24.43 intraday but gave up all of its gains. More aggressive traders could buy dips near the rising 50-dma. I'd prefer to wait for a dip near support around $22.00. 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. Our ten to twelve week target will be $27.75.

Entry on      July 27 at $23.00
Change since picked:     + 0.81   			
Earnings Date          07/23/09 (confirmed)    
Average Daily Volume:        58 million 
Listed on  July 23, 2009    


NATCO Group - NTG - close: 36.00 change: +1.39 stop: 33.90

NTG surged 4% today. I see it as another opportunity for more conservative traders to take profits a little early. I'm not suggesting new bullish positions at this time. We want to exit at $37.50.

Entry on      July 15 at $32.56 *triggered/gap higher entry
Change since picked:     + 3.44   			
                              /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: 44.34 change: -0.06 stop: 41.90 *new*

Target achieved. ROST spiked higher intraday and hit $45.75. That happened to be our first target to take profits. The sell-off from its highs feels like a short-term top. I'm not suggesting new bullish positions at this time and I'm raising the stop loss to $41.90. Our final target is $49.45.

chart:

Entry on      July 13 at $41.60 
Change since picked:     + 2.74
                              /1st target hit @ 45.75 (+9.9%)
                              /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: 32.93 change: +0.48 stop: 28.75

SBS continues to churn sideways in the $32.00-33.50 zone. There is no change from my prior comments. I am sticking to our plan to buy the stock at $30.00. More aggressive traders might want to consider positions near $31.00. Our first target is $34.50. Earnings are due out in early August but the date is not confirmed.

FYI: Readers who buy SBS will want to keep an eye on the Brazilian Bovespa index.

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*