BULLISH Play Updates

America Movil - AMX - close: 45.67 change: +0.51 stop: 39.75

There is no change from my prior comments on AMX. The stock is edging higher in spite of being overbought. The relative strength is encouraging and I'm raising our entry point. We now want to buy a dip at $41.50. We'll up the stop loss to $39.75. Our first target is $44.95. Our second target is $47.40. Our time frame is four to six weeks once triggered.

Entry on    August xx at $xx.xx <-- TRIGGER @ 41.50
Change since picked:     + 0.00   			
Earnings Date          07/21/09 (confirmed)    
Average Daily Volume:       4.3 million 
Listed on  August 01, 2009    


Bank of America - BAC - close: 17.00 change: +1.07 stop: 13.95

Financials helped lead the rally again. BAC gained 6.7% as investors pile in on news last night that John Paulson bought more than $2 billion worth of BAC stock in the second quarter. Of course we don't know what price he paid or if he somehow hedged his position so it's silly to buy just on that reason alone but the markets see it as a vote of confidence. I am upping our trigger point again. The new plan is to buy BAC on a dip at $15.25. We'll bump the stop loss to $13.90.

Our first target is $16.95 and our second target is $18.45. The Point & Figure chart is bullish with a long-term target at $31.00.

Entry on    August xx at $xx.xx <-- TRIGGER @ 15.25
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: 37.30 change: -0.63 stop: 35.95

Traders are still taking profits in HRL after the gap higher. 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:     + 1.90
                            /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: 27.23 change: -0.18 stop: 24.75

IEX slipped again. We're still waiting. 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: 42.90 change: +0.69 stop: 34.90

Here's another bank that refuses to correct. We don't want to chase this move. 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: 29.88 change: -0.10 stop: 27.75

MS displayed some volatility this morning but spent most of the day sliding 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:     + 0.38
                              /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: 23.62 change: +0.09 stop: 21.80

MSFT is another big cap stock sliding sideways. 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:     + 0.62   			
Earnings Date          07/23/09 (confirmed)    
Average Daily Volume:        58 million 
Listed on  July 23, 2009    


TEVA Pharmaceuticals - TEVA - close: 51.89 change: +0.30 stop: 47.95

TEVA tried to rally this morning but the gap higher failed. 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: 18.20 chg: -0.17 stop: 20.05

Technology stocks were some of the better performers today but AKAM is still under performing. I would still consider new bearish positions at current levels. 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:     - 0.24   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:      10.4 million 
Listed on  August 11, 2009    


Expedia Inc. - EXPE - close: 22.77 change: -0.20 stop: 23.55

There is no change from my prior comments on 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: 37.97 change: -0.23 stop: 40.20

STJ under performed the market but bounced from its exponential 200-dma. I would use a new decline under $37.50 as an entry point. 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:     - 0.35   			
Earnings Date          10/15/09 (unconfirmed)    
Average Daily Volume:       4.4 million 
Listed on  August 04, 2009    


TJX Cos. Inc. - TJX - close: 35.36 change: -0.52 stop: 37.05

Better than expected earnings from Wal-Mart were not enough to offset a disappointing July retail sales report from the Commerce Department. TJX lost 1.4% on the session. I would use this as a new entry point for bearish trades. Keep in mind that JCP and ANF both report earnings tomorrow morning.

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:     - 0.12   			
Earnings Date          08/18/09 (confirmed)    
Average Daily Volume:       5.4 million 
Listed on  August 08, 2009    


Williams Cos. - WMB - close: 17.18 change: +0.01 stop: 17.55

Natural gas continues to slide but WMB managed to eke out a gain today. If you're feeling cautious then wait for a new drop under Tuesday'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:     + 0.40   			
Earnings Date          11/05/09 (unconfirmed)    
Average Daily Volume:       5.6 million 
Listed on  August 11, 2009    


CLOSED BULLISH PLAYS

Aegean Marine Petrol. - ANW - close: 21.37 change: +2.32 stop: 17.45

Target exceeded. We were not expecting earnings until later in the month. We lucked out with ANW reporting earnings last night that were better than expected. The company beat estimates by 7 cents and beat on the top line as well. One analyst firmed raised their price target on ANW to $27. The stock gapped open higher at $20.81 and eventually soared to $21.99. Our second target to exit was $19.75 so our play was closed at the open (20.81).

The breakout over the resistance at $20.00 is significant but I wouldn't want to open new positions here. Keep an eye on ANW to see how long it takes to digest the post-earnings move.

chart:

Entry on      July 29 at $16.50 *triggered      
Change since picked:     + 4.31 (exit @ 20.81)
                        /2nd target exceeded with gap higher (+26.1%)
                               /1st target hit @ 18.20 (+10.3%)
Earnings Date          08/12/09 (unconfirmed)    
Average Daily Volume:       284 thousand
Listed on  July 18, 2009