BULLISH Play Updates

Ameron Intl. - AMN - close: 73.66 change: -1.08 stop: 70.95

Yesterday AMN was up $1.08. Today AMN is down $1.08. The low was $72.65. I am not suggesting new bullish positions at this time. More conservative traders may want to up their stops toward $72.00 or $72.50 or just exit completely. 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: 45.56 change: -0.06 stop: 37.95

Nothing has changed for us with AMX. 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: 18.88 change: +0.39 stop: 16.25

ANW set another new four-month closing high. Broken resistance near $18.00 should offer some new support. ANW has exceeded our first target at $18.20. Our second target is $19.75.

Entry on      July 29 at $16.50 *triggered      
Change since picked:     + 2.38
                               /1st target hit @ 18.20 (+10.3%)
Earnings Date          08/12/09 (unconfirmed)    
Average Daily Volume:       284 thousand
Listed on  July 18, 2009    


Bank of America - BAC - close: 16.66 change: +1.02 stop: 12.45

There is a lot of money chasing the rally in BAC right now. Stocks that go up really fast usually come down just as fast. I am willing to consider a higher entry point but let's wait for some sort of correction first. Currently the 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    


Hormel Foods - HRL - close: 36.00 change: -0.33 stop: 34.75

Upward momentum in HRL is really starting to stall. Shares have essentially traded sideways the last two weeks. I am adjusting the stop loss to $34.95 but more conservative traders may want to raise their stops toward $35.40 instead.

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:     + 0.60   			
Earnings Date          08/20/09 (confirmed)    
Average Daily Volume:       486 thousand
Listed on  July 20, 2009    


IDEX Corp. - IEX - close: 27.48 change: -0.77 stop: 24.75

Ouch! IEX gave up 2.7% and the stock has produced a bearish engulfing candlestick reversal pattern. That's good news for us since it probably means the correction has started.

We want to use 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: 41.78 change: +1.57 stop: 34.45

The banks have been the leadership group this week. Unfortunately the sector is VERY overbought from their July lows. We do not want to chase this move. We may want to raise our trigger to buy a dip but for now the plan is unchanged with a trigger at $35.50. The first target is $39.50. Our second target is $42.50.

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: 31.05 change: +0.98 stop: 26.45

MS produced a 3.2% gain thanks to strength in the financials. Shares closed near their high for the day, which is bullish for tomorrow's open. MS could hit our first target tomorrow. Be prepared to take profits. Our first target is $31.50. Our second target is $34.50. Our stop loss is now $26.45.

Entry on    August 04 at $29.50 *triggered (1/2 position)  
Change since picked:     + 1.55   			
Earnings Date          07/22/09 (confirmed)    
Average Daily Volume:        24 million 
Listed on  July 23, 2009    


Microsoft - MSFT - close: 23.81 change: +0.04 stop: 21.80

Technology stocks were the under performers today and MSFT gave back its early morning gains. 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:     + 0.81   			
Earnings Date          07/23/09 (confirmed)    
Average Daily Volume:        58 million 
Listed on  July 23, 2009    


UltraShort NASDAQ - QID - close: 26.46 change: +0.40 stop: 25.35

The action in the NASDAQ and NASDAQ-100 index looks like a possible bearish reversal today. That means this bounce in the QID is probably another aggressive entry point to speculate on a correction. Or you could wait for a move over $27.00 if you want a little more confirmation.

This is a very aggressive, counter-trend trade and suggested very small position sizes. Our first target is $29.90.

Entry on      July 30 at $26.63 
Change since picked:     - 0.17   			
Earnings Date          00/00/00 
Average Daily Volume:      23.9 million 
Listed on  July 30, 2009    


Grupo Televisa - TV - close: 17.98 change: -0.27 stop: 17.24

Nothing has changed for us with the TV trade. 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: 47.62 change: -0.99 stop: 50.05

The bounce is fading. I would use this move 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:     + 0.26   			
Earnings Date          07/16/09 (confirmed)    
Average Daily Volume:      3.28 million 
Listed on  July 30, 2009    


St. Jude Medical - STJ - close: 38.10 change: -0.22 stop: 40.20

I don't see any changes from my Tuesday night comments. I would use today's decline as another entry point to open bearish positions. Our first target is $35.50 near the simple 200-dma. Our second target is $33.00. The Point & Figure chart is bearish with a $30.00 target.

Entry on    August 04 at $38.32 
Change since picked:     - 0.22   			
Earnings Date          10/15/09 (unconfirmed)    
Average Daily Volume:       4.4 million 
Listed on  August 04, 2009