BULLISH Play Updates

Ameron Intl. - AMN - close: 73.66 change: -0.86 stop: 70.95

We should view today's action in AMN as a warning. The stock failed to rally with the wider market. The low today was $72.50. More conservative traders may want to up their stops toward $72.00 or $72.50 or just exit completely. I'm not suggesting new bullish positions at this time. AMN has already exceeded our first target at $74.70. Our second and final exit target is $79.50.

Entry on      July 16 at $70.50 *triggered       
Change since picked:     + 3.16
                              /1st target hit @ 74.70 (+5.9%)
Earnings Date          09/21/09 (unconfirmed)    
Average Daily Volume:       150 thousand
Listed on  July 15, 2009    


America Movil - AMX - close: 45.00 change: +1.99 stop: 37.95

AMX continues to rally and broke out past the July highs. Shares remain overbought and we don't want to chase it. I am suggesting readers buy AMX on a dip in the $40.50-40.00 zone (a minor adjustment from the weekend update). We'll use a stop loss at $37.95. Our first target is $44.50. Our second target is $47.40. Our time frame is four to six weeks.

Entry on    August xx at $xx.xx <-- TRIGGER @ 40.50
Change since picked:     + 0.00   			
Earnings Date          07/21/09 (confirmed)    
Average Daily Volume:       4.3 million 
Listed on  August 01, 2009    


Aegean Marine Petrol. - ANW - close: 17.97 change: +0.97 stop: 15.49

ANW displayed some impressive relative strength with a 5.7% gain. The rally stalled right at resistance near $18.00 and its exponential 200-dma. I'm not suggesting new positions at this time. More conservative traders may want to raise their stop closer to $16.00. Our first target is $18.20 and our second target is $19.75.

Entry on      July 29 at $16.50 *triggered      
Change since picked:     + 1.47   			
Earnings Date          08/12/09 (unconfirmed)    
Average Daily Volume:       284 thousand
Listed on  July 18, 2009    


Bank of America - BAC - close: 15.32 change: +0.53 stop: 12.45

A stronger than expected earnings report from Europe's biggest bank, HSBC, helped set the bullish tone for financials today. Here in the states BAC helped eliminate some investor uncertainty by settling with the SEC and agreeing to pay a $33 million fine over materially misleading statements regarding the acquisition of Merrill Lynch. Investors also applauded news that BAC was hiring former Citigroup executive to manage BAC's global wealth and investment management division.

Technically today's move in BAC is a bullish breakout past resistance at its May 2009 highs and resistance at the $15.00 level. Yet I don't want to chase it here. The stock looks overbought with the bounce from $12.00. Our plan is to buy BAC on a dip at $13.70. If triggered our first target is $15.75. Our second target is $17.90. The Point & Figure chart is bullish with a long-term target at $31.00.

Entry on    August xx at $xx.xx <-- TRIGGER @ 13.70
Change since picked:     + 0.00   			
Earnings Date          07/17/09 (confirmed)    
Average Daily Volume:       310 million 
Listed on  August 01, 2009    


Electronic Arts - ERTS - close: 21.55 change: +0.08 stop: 20.49

Tomorrow is our last day for ERTS. We plan to exit at the closing bell on Tuesday to avoid holding over earnings. You can see how the stock failed to participate in today's market rally because investors are waiting to hear the earnings news. If the major markets indices start showing weakness tomorrow readers may want to exit early! Our target to exit is $22.95.

Entry on      July 28 at $21.10 
Change since picked:     + 0.37   			
Earnings Date          08/04/09 (confirmed)    
Average Daily Volume:       6.5 million 
Listed on  July 28, 2009    


Hormel Foods - HRL - close: 36.12 change: +0.21 stop: 34.75

I have nothing new to report on for HRL. The trend is up but when the market corrects we can expect HRL to follow. I'm not suggesting new positions at this time. Our first target is $37.90. Our 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:     + 0.72   			
Earnings Date          08/20/09 (confirmed)    
Average Daily Volume:       486 thousand
Listed on  July 20, 2009    


IDEX Corp. - IEX - close: 27.98 change: +0.70 stop: 24.75

More aggressive traders may want to consider a breakout trigger to buy IEX above $28.00 (and adjust your stop loss higher). The stock's consolidation has a bullish pattern of higher lows and it's coiling for a breakout higher. Unfortunately, I'm more concerned with the larger market. Even a strong stock will normally trend lower if the market is correcting.

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: 39.60 change: +0.95 stop: 33.90

Stocks just get more and more overbought. The better than expected earnings from HSBC this morning helped fuel the rally in banking stocks. JPM gained 2.4% but the rally stalled under the $40.00 mark. I am suggesting we remain patient and wait for the right entry point.

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    


Morgan Stanley - MS - close: 29.31 change: +0.81 stop: 25.75

Strength in the financials has lifted MS to a 2.8% gain and a rally right to resistance in the $29.30-29.40 zone. We do have a trigger to buy MS at $29.50 but we only want to trade half our normal position size. Actually we have two triggers.

If we buy the dip at $26.75 our first target is $29.30 and our second target is $31.50.

If we buy a breakout at $29.50 our first target is 31.50 and our second target is $34.50.

Entry on      July xx at $xx.xx <-- TRIGGER @ 26.75 or 29.50
Change since picked:     + 0.00   			
Earnings Date          07/22/09 (confirmed)    
Average Daily Volume:        24 million 
Listed on  July 23, 2009    


Microsoft - MSFT - close: 23.83 change: +0.31 stop: 21.80

MSFT spent the session trading sideways in a narrow range. I don't see any changes from my weekend comments.

More aggressive traders could buy dips near the rising 50-dma. I'd prefer to wait for a dip near support around $22.00. 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:     + 0.83   			
Earnings Date          07/23/09 (confirmed)    
Average Daily Volume:        58 million 
Listed on  July 23, 2009    


UltraShort NASDAQ - QID - close: 26.07 change: -0.76 stop: 25.69

It looks like we're a little early calling a top in the NASDAQ and a bottom in shares of QID. The QID edged down toward the $26.00 level again and if the NASDAQ can build on its close over the 2,000 level today then we'll probably be stopped out on Tuesday. We knew this was a very aggressive, counter-trend trade and suggested very small position sizes. At this time I'd wait for a move over $27.00 or 27.50 or even $28.00 before considering new positions.

Entry on      July 30 at $26.63 
Change since picked:     - 0.56   			
Earnings Date          00/00/00 
Average Daily Volume:      23.9 million 
Listed on  July 30, 2009    


Ross Stores - ROST - close: 43.72 change: -0.35 stop: 42.49 *new*

I am very surprised that we did not get stopped out today. Shares of ROST were downgraded this morning and the stock gapped open lower at $43.20 and dipped to $42.56 before paring its losses. I am not suggesting new positions and more conservative traders may want to exit completely. I'm inching up our stop loss to $42.49.

ROST has already hit our first target at $45.75. Our second and final target is $49.45.

Entry on      July 13 at $41.60 
Change since picked:     + 2.12
                              /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    


Grupo Televisa - TV - close: 18.30 change: +0.21 stop: 17.24

Shares of TV gapped open higher this morning at $18.22 and rallied toward resistance near $18.50. Yet the rally stalled and reversed course at $18.55. Nothing has changed for us. We want to buy a breakout but the trigger is still at $18.60. If triggered our first target is $19.95. Our second target is $21.45. The Point & Figure chart is bullish with a $25 target.

Entry on    August xx at $xx.xx <--  TRIGGER @ 18.60
Change since picked:     + 0.00   			
Earnings Date          07/16/09 (confirmed)    
Average Daily Volume:       2.2 million 
Listed on  August 01, 2009    


BEARISH Play Updates

Biogen Idec Inc. - BIIB - close: 48.36 change: +0.81 stop: 50.05

The biotech sector was bouncing today after a minor pull back late last week. The group still looks very overbought and due for a correction. Shares of BIIB managed a 1.7% bounce but the trend is still down. Readers may want to watch for a failed rally in the $49.00-50.00 zone as a new entry point for bearish positions. Our first target is $43.00. Our second target is $40.50. My time frame is four to six weeks.

Entry on      July 30 at $47.36 
Change since picked:     + 1.00   			
Earnings Date          07/16/09 (confirmed)    
Average Daily Volume:      3.28 million 
Listed on  July 30, 2009    


CLOSED BULLISH PLAYS

LDK Solar Co. - LDK - close: 11.37 change: +0.43 stop: 9.49

I am temporarily moving LDK off the play list. We've been waiting for a correction that doesn't want to show up. I would keep the stock on your watch list for a dip near $10.00 or its 100-dma. Don't forget to avoid earnings on August 12th.

chart:

Entry on      July xx at $xx.xx <-- see TRIGGER  
Change since picked:     + 0.00   			*never opened*
Earnings Date          08/12/09 (confirmed)    
Average Daily Volume:       4.0 million 
Listed on  July 25, 2009    


NATCO Group - NTG - close: 38.15 change: +2.09 stop: 33.90

Target achieved. NTG gapped open higher at $37.16 and quickly rallied toward the $38.00 level. Our final target to exit was $37.50.

chart:

Entry on      July 15 at $32.56 *triggered/gap higher entry
Change since picked:     + 4.94 <-- target hit @ 37.50 (+15.1%)
                              /sell 1/2 @ 36.65 (+12.5%)
Earnings Date          08/03/09 (unconfirmed)    
Average Daily Volume:       270 thousand
Listed on  July 14, 2009