BULLISH Play Updates

Ameron Intl. - AMN - close: 71.71 change: -1.95 stop: 70.95

Investors are nervous about the jobs report Friday morning and they've started taking profits in AMN. I've been suggesting readers take profits in AMN for several days now. It wouldn't take much for AMN to hit our stop loss if the markets are weak tomorrow. I am 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:     + 1.21
                              /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: 44.20 change: -1.36 stop: 37.95

AMX has started to correct. Shares lost almost 3% today. There is no change from my prior comments. 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: 18.29 change: -0.59 stop: 16.75*new*

ANW gave up yesterday's gains and more with a 3.1% pull back today. I am raising our stop loss to $16.75. I'm not suggesting new bullish positions at this time. 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:     + 1.79
                               /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: 16.70 change: +0.04 stop: 12.45

The profit taking in banking stocks was relatively minor. BAC actually hit a new high at $17.35 before trimming its gains. 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: 35.93 change: -0.07 stop: 34.95

I do not see any changes from my previous comments on HRL. 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:     + 0.53   			
Earnings Date          08/20/09 (confirmed)    
Average Daily Volume:       486 thousand
Listed on  July 20, 2009    


IDEX Corp. - IEX - close: 27.60 change: +0.12 stop: 24.75

There was no follow through on yesterday's bearish reversal in IEX. Maybe investors are just waiting to see the jobs number before making any decisions with this stock.

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: 40.75 change: -1.03 stop: 34.45

JPM spiked to $42.46 before reversing and closing down 2.4%. Tomorrow could be a pivotal session for the market's rally. Nothing has changed from my previous comments.

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: 30.55 change: -0.50 stop: 26.45

Target exceeded. MS gapped open higher at $31.68 and hit $32.00 before trimming its gains. Our first target to take profits was at $31.50. Wait for a dip back toward the $29.00-28.00 zone before considering new bullish positions. I'm raising the stop loss to $27.75. Our second target is $34.50.

chart:

Entry on    August 04 at $29.50 *triggered (1/2 position)  
Change since picked:     + 1.05
                              /1st target hit @ 31.50 (+6.7%)
Earnings Date          07/22/09 (confirmed)    
Average Daily Volume:        24 million 
Listed on  July 23, 2009    


Microsoft - MSFT - close: 23.46 change: -0.35 stop: 21.80

Uh-oh! The action in MSFT today looks bearish. The stock has produced a bearish engulfing candlestick pattern. I am not suggesting new bullish positions at this time.

More aggressive traders may want to widen their stop loss to under $21.00 or under $20.00 depending on your risk tolerance. I'm starting to think our target at $27.75 might be too optimistic.

Entry on      July 27 at $23.00
Change since picked:     + 0.46   			
Earnings Date          07/23/09 (confirmed)    
Average Daily Volume:        58 million 
Listed on  July 23, 2009    


UltraShort NASDAQ - QID - close: 26.88 change: +0.42 stop: 25.35

Our aggressive bet on the QID is starting to look stronger. Everything will depend on the jobs number tomorrow and how investors react to the data. If the number disappoints then the QID is poised to soar. If job losses come in better than expected then we'll probably get stopped out.

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:     + 0.25   			
Earnings Date          00/00/00 
Average Daily Volume:      23.9 million 
Listed on  July 30, 2009    


TEVA Pharmaceuticals - TEVA - close: 52.01 change: -0.42 stop: 47.95

We are waiting for a dip near $50.00. The plan is to buy TEVA on a pull back into the $50.25-48.00 zone. If triggered at $50.00 our first target is $54.75. Our second target is $59.50. Our time frame is eight to ten weeks.

Entry on    August xx at $xx.xx <-- TRIGGER @ 50.25
Change since picked:     + 0.00   			
Earnings Date          11/05/09 (unconfirmed)    
Average Daily Volume:       5.3 million 
Listed on  August 05, 2009    


Grupo Televisa - TV - close: 17.98 change: -0.00 stop: 17.24

TV closed unchanged on the session yet volume spiked to 3.25 million shares. I couldn't find any news to account for the spike in volume. 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: 46.65 change: -0.97 stop: 50.05

BIIB's new leg down appears to have started. Shares lost 2% today and the MACD on the daily chart is about to turn bearish again. 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.

FYI: There was some news out on BIIB today. Rival drugmaker Elan (ELN) announced it was suing BIIB over their partnership with the drug Tysabri.

Entry on      July 30 at $47.36 
Change since picked:     - 0.71   			
Earnings Date          07/16/09 (confirmed)    
Average Daily Volume:      3.28 million 
Listed on  July 30, 2009    


St. Jude Medical - STJ - close: 37.79 change: -0.31 stop: 40.20

STJ continues to drift lower. I would still launch bearish positions in the $37.50-39.00 zone but entry points will need to be determined by how the market reacts to the jobs report on Friday morning. 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:     - 0.53   			
Earnings Date          10/15/09 (unconfirmed)    
Average Daily Volume:       4.4 million 
Listed on  August 04, 2009