BULLISH Play Updates

America Movil - AMX - close: 45.16 change: +0.60 stop: 37.95

AMX is still consolidating sideways in the $44.00-45.50 zone. Nimble traders could use a trigger under $44.00 as a bearish entry point and exit near $40.50. 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: 19.05 change: +0.57 stop: 17.45*new*

Oil and oil service stocks bounced. Shares of ANW did even better with a 3% gain and a new relative high (19.49) this afternoon. I am raising the stop loss to $17.45. I am 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:     + 2.55
                               /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: 15.93 change: +0.08 stop: 13.40

Traders were quick to buy the dip in BAC this morning when shares hit $15.40. I still think BAC will correct but it may take a little longer than expected to hit our trigger. After the closing bell tonight it was just released that influential hedgefund manager John Paulson bought more than $2 billion worth of BAC stock in the second quarter. Many see this as a big vote of confidence for BAC and the stock is up around $16.45 in after hours trading.

We want to buy BAC on a dip at $14.75 although more patient traders may want to wait for a dip closer to $14.00. 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: 37.93 change: -0.08 stop: 35.95

HRL continues to see some minor profit taking after Monday's big gain. I am not suggesting new bullish positions at this time. HRL has exceeded our first target but we still have a second and final target at $39.90.

Entry on      July 20 at $35.40 /gap higher entry
                              /originally listed at $35.25
Change since picked:     + 2.53
                            /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: 27.41 change: +0.04 stop: 24.75

IEX struggled to participate in the market's rally today. Odds are growing that IEX finally correct. We want to buy the stock on a pull back into the $26.10-25.00 zone. If we are triggered our first target is $29.85. My time frame is six to eight weeks.

Entry on      July xx at $xx.xx <-- TRIGGER @ 26.10
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: 42.21 change: +0.97 stop: 34.90

There is no change from my prior comments on JPM. Currently our trigger to buy JPM is at $37.75. 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: 29.98 change: +0.09 stop: 27.75

MS spent the session drifting sideways. Wait for a dip back toward the $29.00-28.00 zone before considering new bullish positions. 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:     + 0.58
                              /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: 23.53 change: +0.40 stop: 21.80

MSFT was a big part of the rally in technology and the NASDAQ with a bounce from $23.00 to $23.90 intraday. One of the stories fueling the move was a report that MSFT had inked a deal with Nokia (NOK) to develop a mobile phone version of MSFT's Office suite.

I am still suggesting readers wait for a dip near $22.00 before launching new MSFT positions.

More aggressive traders may want to go ahead and widen their stop loss to under $21.00 or under $20.00 depending on your risk tolerance. Currently our target is at $27.75 but that might be too optimistic. We may have to stretch out our time frame from several weeks to a few months.

FYI: An alternative would be to just exit early now and re-enter on a dip near $22.00 or $21.00. This way your capital isn't tied up and you can use it for other trades while we wait for MSFT to retest support.

Entry on      July 27 at $23.00
Change since picked:     + 0.53   			
Earnings Date          07/23/09 (confirmed)    
Average Daily Volume:        58 million 
Listed on  July 23, 2009    


TEVA Pharmaceuticals - TEVA - close: 51.77 change: +0.30 stop: 47.95

TEVA rallied with the market today but the bounce stalled at its 10-dma. 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    


BEARISH Play Updates

Akamai Tech. - AKAM - close: 18.37 chg: -0.07 stop: 20.05

So far so good. The bounce in AKAM this morning stalled near $19.00. I'm still bearish and would still open bearish positions here. Our first target is $16.25. FYI: There have been rumors that AKAM is a takeover target. Readers may want to choose put options, which limit your risk to what you paid, versus shorting the stock, which has unlimited risk. A stop loss at $20.05 isn't going to work if AKAM gets an offer for a lot higher. Shares will gap open.

Entry on    August 11 at $18.44 
Change since picked:     - 0.07   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:      10.4 million 
Listed on  August 11, 2009    


Expedia Inc. - EXPE - close: 22.97 change: +0.35 stop: 23.55

EXPE is still ticking higher. Nothing goes up in a straight line for very long and definitely not at the current pace in EXPE. I will repeat that this is a very aggressive trade. The plan is to open bearish positions at $21.85. You could short the stock or buy put options, which help limit your risk. If triggered our first target is $19.75. Our second target is $18.00. I suggest traders use smaller than normal position sizes.

Entry on    August xx at $xx.xx <-- TRIGGER 21.85
Change since picked:     + 0.00   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:       5.0 million 
Listed on  August 10, 2009    


St. Jude Medical - STJ - close: 38.20 change: -0.17 stop: 40.20

STJ's failure to participate in the market's widespread rally is good news for the bears. 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:     - 0.12   			
Earnings Date          10/15/09 (unconfirmed)    
Average Daily Volume:       4.4 million 
Listed on  August 04, 2009    


TJX Cos. Inc. - TJX - close: 35.88 change: +0.79 stop: 37.05

Retailers were stronger thanks to better than expected earnings and improved guidance from Macy's (M) this morning. Tomorrow is the big day with earnings out of Wal-Mart (WMT). Readers might want to wait and see how investors react to the WMT news tomorrow before launching new TJX positions.

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:     + 0.40   			
Earnings Date          08/18/09 (confirmed)    
Average Daily Volume:       5.4 million 
Listed on  August 08, 2009    


Williams Cos. - WMB - close: 17.17 change: +0.39 stop: 17.55

WMB turned in a 2% bounce but it failed to break the trend of lower highs. If you're feeling cautious then wait for a new drop under yesterday's low (near 16.71) as an entry point for bearish positions. Our first target is $15.10. Our second target is $14.10.

Entry on    August 11 at $16.78 
Change since picked:     + 0.39   			
Earnings Date          11/05/09 (unconfirmed)    
Average Daily Volume:       5.6 million 
Listed on  August 11, 2009    


CLOSED BULLISH PLAYS

UltraShort NASDAQ - QID - close: 26.18 change: -0.87 stop: 25.80

The market was trending lower the first two days of the week and I felt confident raising the stop loss on QID to $25.80. It was going to take a new high for the NASDAQ-100 to push QID past its all-time lows at $25.85. Today's unexpected rally was just strong enough to tag a new high in the NDX and our QID was stopped out.

I am sorely tempted to re-open the play immediately with a stop loss just under today's low but I'm suggesting we wait. While I believe the market is extremely overbought and due to correct it can always get more overbought. This was a very aggressive, counter-trend trade and I suggested very small position sizes.

chart:

Entry on      July 30 at $26.63 
Change since picked:     - 0.83<-- stopped out @ 25.80 (-3.1%)   			
Earnings Date          00/00/00 
Average Daily Volume:      23.9 million 
Listed on  July 30, 2009    


Grupo Televisa - TV - close: 18.28 change: -0.16 stop: 17.24

I'm turning cautious on TV and suggesting an early exit. Shares did not participate in the market's rally today. Furthermore today's decline following yesterday's inside day is suggesting the breakout was a bull trap. I want to exit now and we can put TV on our watch list for a new bullish entry point on a new rally past $18.75 or $19.00.

chart:

Entry on    August 10 at $18.60 *triggered
Change since picked:     - 0.32<-- exit early @ 18.28 (-1.7%)
Earnings Date          07/16/09 (confirmed)    
Average Daily Volume:       2.2 million 
Listed on  August 01, 2009    


CLOSED BEARISH PLAYS

Biogen Idec Inc. - BIIB - close: 49.00 change: +1.19 stop: 50.05

It's time to throw in the towel on BIIB. More aggressive traders may want to let it ride. BIIB still has resistance near $50.00 and its 100-dma and exponential 200-dma. The reason I want to exit now is the breakout over its multi-week trendline of lower highs. Cut our losses now.

chart:

Entry on      July 30 at $47.36 
Change since picked:     + 1.64<-- exit early @ 49.00 (+3.4%)
Earnings Date          07/16/09 (confirmed)    
Average Daily Volume:      3.28 million 
Listed on  July 30, 2009