BULLISH Play Updates

Ameron Intl. - AMN - close: 72.98 change: +0.23 stop: 71.25 *new*

AMN displayed a little bit of strength but failed to break the new trend of lower highs developing. I'm inching up our stop loss to $71.25. More conservative traders may want to exit early now. 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:     + 2.48
                              /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: 45.18 change: +0.51 stop: 37.95

AMX bounced again but our strategy hasn't changed. Last Thursday's move was a short-term bearish reversal. Nimble traders may want to consider very short-term bearish positions. We want to buy AMX on a dip. I am suggesting readers buy AMX on a dip in the $40.50-40.00 zone. 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 once triggered.

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: 18.98 change: +0.57 stop: 16.99 *new*

ANW showed some impressive relative strength with a 3% rally toward short-term resistance near $19.00. I don't see any specific news behind the rally but oil and energy stocks ended up as some of the best performers today. I am raising our stop loss again, this time to $16.99. More conservative traders may want to put their stop closer to $17.50ish. 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:     + 2.48
                               /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: 16.68 change: +0.26 stop: 13.40

BAC also showed some relative strength with a 1.5% gain. Our plan hasn't changed. We want to buy BAC on a dip at $14.75. If triggered at $14.75 our first target is $16.75 and 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 @ 14.75
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: 36.12 change: +0.19 stop: 35.95 *new*

Wow! The 5.7% rally in HRL today was unexpected. The company issued a surprise earnings warning to the upside and said 2009 results would be better than expected. The stock gapped open higher at $38.74 and closed above resistance at the $38.00 level. Our first target to take profits was $37.90. If you have not taken profits yet I suggest you do so now. I would probably exit 75% of the position. We still have a second and final target at $39.90. However, we will exit ahead of HRL's late August earnings report.

Please note that I am upping our stop loss to $35.95. There is a possibility that HRL will fill the gap.

chart:

Entry on      July 20 at $35.40 /gap higher entry
                              /originally listed at $35.25
Change since picked:     + 2.81
                            /1st target exceeded @ 38.74 gap (+9.4%)
Earnings Date          08/20/09 (confirmed)    
Average Daily Volume:       486 thousand
Listed on  July 20, 2009    


IDEX Corp. - IEX - close: 28.13 change: -0.28 stop: 24.75

There is no change from the weekend update. I still don't want to chase this move. Shares are very overbought from their $22.25 lows from early July.

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: 42.36 change: +1.61 stop: 34.90 *new*

JPM continues to rise. We are still waiting for a correction and I don't see any changes from the weekend update. If you throw a Fibonacci tool on the July rally a 38.2% retracement would be back around $38.65. A 50% retracement would be near $37.35. The stock found resistance near $37.50 back in late May 2009. Let's raise our trigger to buy JPM to $37.75. We'll also raise our stop loss to $34.90. Money managers are still chasing performance so corrections in JPM will probably be shallow. I don't expect a full 50% retracement of the rally.

If triggered at $37.75 our first target is $41.75. Our longer-term target is $44.00. Our time frame is eight to ten weeks.

Entry on      July xx at $xx.xx <-- TRIGGER @ 37.75
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: 30.83 change: -0.39 stop: 27.75

MS dipped 1.2% and hopefully the pull back continues. 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. MS has exceeded our first target at $31.50. I am raising our second target to $34.90.

Entry on    August 04 at $29.50 *triggered (1/2 position)  
Change since picked:     + 1.43
                              /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: 23.42 change: -0.14 stop: 21.80

MSFT continues to under perform. Shares drifted sideways for another day and edged closer to a breakdown under its 50-dma. I am not suggesting new bullish positions at this time. The long-term trend is now up but we'd rather buy a dip near $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. I'm starting to think our target at $27.75 might be too optimistic.

Entry on      July 27 at $23.00
Change since picked:     + 0.42   			
Earnings Date          07/23/09 (confirmed)    
Average Daily Volume:        58 million 
Listed on  July 23, 2009    


UltraShort NASDAQ - QID - close: 26.53 change: +0.34 stop: 25.35

The QID is still bouncing but if you look at the NASDAQ, NASDAQ-100 index and the QID you can see they're all churning sideways. Readers may want to wait for the QID to rise above $27.15 before launching positions or you could wait for another bounce from the $26.00 level.

I hesitate to suggest new bullish positions at this time. 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:     - 0.10   			
Earnings Date          00/00/00 
Average Daily Volume:      23.9 million 
Listed on  July 30, 2009    


TEVA Pharmaceuticals - TEVA - close: 51.51 change: -0.21 stop: 47.95

TEVA is still correcting, which is healthy. 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: 18.99 change: +0.60 stop: 17.24

Our bullish play on TV is now open. The stock burst through resistance near $18.50 this morning and hit our trigger to buy the stock at $18.60. Our first target is $19.95. Our second target is $21.45. The Point & Figure chart is bullish with a $25 target.

chart:

Entry on    August 10 at $18.60 *triggered
Change since picked:     + 0.39   			
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: 47.93 change: +0.65 stop: 50.05

BIIB displayed some relative strength with a 1.3% gain on Monday. I'm still bearish and would use the bounce as an entry point but more conservative traders may want to wait for the rebound to rollover first. 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:     + 0.57   			
Earnings Date          07/16/09 (confirmed)    
Average Daily Volume:      3.28 million 
Listed on  July 30, 2009    


St. Jude Medical - STJ - close: 38.23 change: +0.88 stop: 40.20

Uh-oh! I have to issue a warning. STJ's 2.3% gain today has produced a bullish engulfing reversal pattern. Now these normally need to see some confirmation but it should put the bears on a defensive posture. I'm not suggesting new positions at this time. 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:     - 0.09   			
Earnings Date          10/15/09 (unconfirmed)    
Average Daily Volume:       4.4 million 
Listed on  August 04, 2009    


TJX Cos. Inc. - TJX - close: 35.17 change: -0.31 stop: 37.05

TJX is still inching lower. I don't see any changes from the weekend play description. Don't forget that this is an aggressive trade because we're going to hear some earnings out of the retail sector this week. Their results will have a big influence on TJX. I am setting our first target to take profits at $32.25 and would exit about 75% of the position at $32.25. Our second target to exit is $30.50. We do not want to hold over the August 18th earnings report.

Entry on    August 08 at $35.48 
Change since picked:     - 0.31   			
Earnings Date          08/18/09 (confirmed)    
Average Daily Volume:       5.4 million 
Listed on  August 08, 2009    


CLOSED BEARISH PLAYS

Lincoln National - LNC - close: 23.08 change: +0.44 stop: 23.51

Our aggressive short play on LNC didn't last very long. Shares rallied to a new high over $23.50 and hit our stop loss closing the play.

chart:

Entry on    August 08 at $22.64 
Change since picked:     + 0.87<-- stopped @ 23.51 (+3.8%)
Earnings Date          10/28/09 (unconfirmed)    
Average Daily Volume:       7.4 million 
Listed on  August 08, 2009