BULLISH Play Updates

America Movil - AMX - close: 45.22 change: +0.46 stop: varies

AMX is still bouncing from yesterday's test of short-term support near $44.00. Currently we have two different entry points for AMX.

Breakout trigger @ 46.51, stop loss 45.15, 1st target 49.75. Use small position size.

Buy the dip trigger @ 42.25, stop loss 39.95, 1st target 45.95, 2nd target 49.75.

*Breakout Trade*
Entry on    August xx at $xx.xx <-- TRIGGER @ 46.51, stop 45.15
Change since picked:     + 0.00   			

*Buy the dip Trade*
Entry on    August xx at $xx.xx <-- TRIGGER @ 42.25, stop 39.95
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: 16.90 change: +0.34 stop: 13.95

Some of the banking stocks really led the bounce today but volume was sliding lower. We're still waiting for a minor correction. Our entry point to buy BAC is at $15.55. If we do get triggered I would only trade 1/2 your normal position size. Only on a significant correction would I trade any larger.

Our first target is $17.75 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 @ 15.55
Change since picked:     + 0.00   			
Earnings Date          07/17/09 (confirmed)    
Average Daily Volume:       310 million 
Listed on  August 01, 2009    


Corn Products - CPO - close: 30.58 change: +0.21 stop: 27.49

CPO tested round-number support at $30.00 but volume was pretty light. I'm still expecting a larger dip and I'm moving our trigger down to $29.25. We can really open positions anywhere in the $29.25-28.00 zone. Our first target is $32.30. Our second target is $34.85. The Point & Figure chart is bullish with a $45.00 target.

Entry on    August xx at $xx.xx <-- TRIGGER @ 29.25
Change since picked:     + 0.00   			
Earnings Date          10/22/09 (unconfirmed)    
Average Daily Volume:       687 thousand
Listed on  August 15, 2009    


Hormel Foods - HRL - close: 36.63 change: -0.24 stop: 35.95

HRL continues to see profit taking and is down five out of the last six days. Shares have filled the gap so it's time for a bounce. Unfortunately, tomorrow is our last day. We plan to exit at the closing bell on Wednesday to avoid holding over earnings. I am not suggesting new bullish positions. 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:     + 1.23
                            /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: 25.90 change: +0.06 stop: 24.75

The bounce in IEX today was pretty under whelming. Shares should have support with the 40-dma, 50-dma and exponential 200-dma in the $26.00-25.50 zone but I suspect IEX may trade down toward $25.00. Our first target is $29.85. My time frame is six to eight weeks.

Entry on    August 17 at $26.10 *triggered         
Change since picked:     - 0.20   			
Earnings Date          07/20/09 (confirmed)    
Average Daily Volume:       570 thousand
Listed on  July 25, 2009    


J.P.Morgan Chase - JPM - close: 41.70 change: +0.97 stop: 35.90

Waiting for a correction in the banking stocks has definitely been an exercise in patience. The MACD on JPM's daily chart has finally produced a sell signal.

I am suggesting readers open bullish positions on a dip to $38.75. More patient traders can hold out hope for a dip closer to $36.00. If triggered our first target is $42.50. Our longer-term target is $44.75. Our time frame is eight to ten weeks.

Entry on      July xx at $xx.xx <-- TRIGGER @ 38.75
Change since picked:     + 0.00   			
Earnings Date          07/16/09 (confirmed)    
Average Daily Volume:        55 million 
Listed on  July 18, 2009    


Lindsay Corp. - LNN - close: 44.87 change: +2.41 stop: 37.45

Wow! LNN displayed a lot of relative strength today. Shares gained 5.6% and completely erased the recent dip. Volume was strong, which is a bullish signal. I'm not willing to chase it in this market environment.

We want to launch bullish positions on a correction. The plan is to buy LNN on a dip in the $40.10-38.00 zone. If triggered our first target to take profits is at $44.75. Our second target is $48.50. Our time frame is six to ten weeks.

Entry on    August xx at $xx.xx <-- TRIGGER @ 40.10
Change since picked:     + 0.00   			
Earnings Date          10/07/09 (unconfirmed)    
Average Daily Volume:       256 thousand
Listed on  August 17, 2009    


Morgan Stanley - MS - close: 28.78 change: +0.24 stop: 27.45

MS is under performing its peers. Shares only gained 0.8%. I'm expecting a dip toward $28.00, which readers can use as a new entry point. MS has exceeded our first target at $31.50. We're currently aiming for our second target at $34.90.

Entry on    August 04 at $29.50 *triggered (1/2 position)  
Change since picked:     - 0.72
                              /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: 23.58 change: +0.46 stop: 21.80

MSFT was upgraded to a "buy" this morning and the stock managed a 1.9% gain. The MACD indicator is nearing a new buy signal. Yet shares have broken their bullish channel and have a three-week trend of lower highs. I'm expecting a dip toward $22.00.

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: MSFT doesn't move very fast and eventually the market will correct. 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:     + 0.58   			
Earnings Date          07/23/09 (confirmed)    
Average Daily Volume:        58 million 
Listed on  July 23, 2009    


Oil States Intl. - OIS - close: 28.64 change: +0.98 stop: 27.95

Oil service stocks performed well thanks to strength in oil. OIS gained 3.5% but the short-term trend is still down. We're still waiting for a breakout over resistance with a trigger at $30.20. If triggered our first target is $34.00. Our second target is $38.00. My time frame is six to eight weeks.

Entry on    August xx at $xx.xx <--  TRIGGER @ 30.20
Change since picked:     + 0.00   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:       738 thousand
Listed on  August 13, 2009    


TEVA Pharmaceuticals - TEVA - close: 50.79 change: -0.07 stop: 47.95

TEVA under performed the rest of the market with a new three-week low. Shares did pare their losses by the closing bell. The $50.00 level should be round-number support, which is now underpinned by the rising 50-dma. Our first target is $54.75. Our second target is $59.50. Our time frame is eight to ten weeks.

Entry on    August 17 at $50.50 *triggered                
Change since picked:     + 0.29   			
Earnings Date          11/05/09 (unconfirmed)    
Average Daily Volume:       5.3 million 
Listed on  August 05, 2009    


Titan Machinery - TITN - close: 12.35 change: -0.14 stop: 11.30

TITN spent the session drifting sideways. I would still consider new bullish positions in the $12.50-12.00 region. We should have about a month before TITN reports earnings. Our upside target is $14.75 and $15.85.

Entry on    August 15 at $12.55 /gap down entry
                              /originally listed at $13.12
Change since picked:     - 0.20   			
Earnings Date          09/15/09 (unconfirmed)    
Average Daily Volume:       248 thousand
Listed on  August 15, 2009    


BEARISH Play Updates

Akamai Tech. - AKAM - close: 17.84 chg: +0.17 stop: 20.05

AKAM tagged a new relative low at $17.37 before bouncing back. If the market bounces from here I would expect AKAM to bounce toward $19.00. Our first target is $16.25.

FYI: There was a story out today that AAPL will eventually be cutting back on third-party content delivery from companies like AKAM in the next couple of years.

Entry on    August 11 at $18.44 
Change since picked:     - 0.60   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:      10.4 million 
Listed on  August 11, 2009    


CA Inc. - CA - close: 22.50 change: +0.75 stop: 22.76

Ouch! The market's rebound today was definitely unexpected and I suspect shorts ran for cover again in CA. The stock gained 3.4% and almost erased yesterday's loss. Wait for this bounce to roll over before considering new bearish positions. If the rally continues we'll be stopped out pretty quickly.

Our first target to cover and take profits is at $20.15. Our second target is $19.25. I consider this an aggressive trade and readers will want to use smaller position sizes.

Entry on    August 17 at $21.75 
Change since picked:     + 0.75   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:       6.6 million 
Listed on  August 17, 2009    


Expedia Inc. - EXPE - close: 21.52 change: +0.21 stop: 23.55

EXPE delivered a minor oversold bounce. I'm not suggesting new positions right here but a failed rally near $22.00-22.50 could be used as an entry point. Our first target is $19.75. Our second target is $18.00. I suggest traders use smaller than normal position sizes.

Entry on    August 14 at $21.85 
Change since picked:     - 0.33   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:       5.0 million 
Listed on  August 10, 2009    


St. Jude Medical - STJ - close: 37.11 change: -0.46 stop: 39.05 *new*

STJ has finally broken down under its 100-dma and 200-ema. I am lowering the stop loss to $39.05. 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:     - 1.21   			
Earnings Date          10/15/09 (unconfirmed)    
Average Daily Volume:       4.4 million 
Listed on  August 04, 2009    


Williams Cos. - WMB - close: 16.31 change: +0.19 stop: 17.55

WMB managed a minor bounce as it tests the 30-dma. A failed rally in the $16.75-17.00 zone can be used as a new entry point for shorts. Our first target is $15.10. Our second target is $14.10.

Entry on    August 11 at $16.78 
Change since picked:     - 0.47   			
Earnings Date          11/05/09 (unconfirmed)    
Average Daily Volume:       5.6 million 
Listed on  August 11, 2009