BULLISH Play Updates

America Movil - AMX - close: 45.47 change: +0.25 stop: varies

AMX is still slowly bouncing toward the top of its trading range and resistance near $46.00. 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: 16.75 change: -0.15 stop: 13.95

Banking stocks under performed and appeared to be weighing on the market. 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: 30.46 change: -0.12 stop: 27.49

CPO is still testing support at $30.00. I think it's going to break. That's why our trigger is at $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    


Ultra-Short Dow 30 - DXD - close: 38.88 change: -0.60 stop: 37.90

The rise in the DJIA and pull back in the DXD was just enough to fill the gap. I'm not giving up yet but readers may want to wait for a bounce from $38.00 or a new rise over $39.50 before launching new bullish positions on the DXD. Our first target is $41.50. Our second target is $43.00. This is an aggressive play. We want to use small position sizes.

Entry on    August 18 at $40.11 /gap open entry
                              /originally listed at $39.48
Change since picked:     - 1.23   			
Earnings Date          00/00/00 
Average Daily Volume:       6.3 million 
Listed on  August 18, 2009    


IDEX Corp. - IEX - close: 26.61 change: +0.71 stop: 24.75

IEX displayed some relative strength with a 2.7% gain. Shares also produced a bullish engulfing candlestick pattern. I'm encouraged but shares do have some resistance near $27.00. 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:     + 0.51   			
Earnings Date          07/20/09 (confirmed)    
Average Daily Volume:       570 thousand
Listed on  July 25, 2009    


J.P.Morgan Chase - JPM - close: 41.41 change: -0.29 stop: 35.90

JPM is another major bank that failed to participate in the market's rally. The market can't rally without the banks so this could be a clue not to trust the two-day bounce.

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: 43.24 change: -1.63 stop: 37.45

LNN ran into some profit taking but not enough to hit our trigger.

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: 28.83 change: +0.05 stop: 27.90 *new*

Bingo! We were expecting a dip toward $28.00 and MS delivered one this morning. This is another test of the long-term trendline of support and readers can use it as an entry point to buy MS. I am raising our stop loss to $27.90. 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:     - 0.67
                              /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: 23.65 change: +0.07 stop: 21.80

Somebody wake me up when MSFT trades outside of the $23.00-24.00 range it's currently in. If you want to buy a breakout over $24.00 consider raising your stop toward $23.00. Otherwise I'd wait for a dip near $22.00 as our next entry point.

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:     + 0.65   			
Earnings Date          07/23/09 (confirmed)    
Average Daily Volume:        58 million 
Listed on  July 23, 2009    


Oil States Intl. - OIS - close: 28.53 change: -0.11 stop: 27.95

The action in OIS is very surprising. Most of the energy sector soared on the rally in crude oil. OIS did not. 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: 51.45 change: +0.66 stop: 47.95

TEVA is beginning to bounce after testing support near $50.50 and its 40-dma for the last three days. 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:     + 0.95   			
Earnings Date          11/05/09 (unconfirmed)    
Average Daily Volume:       5.3 million 
Listed on  August 05, 2009    


Titan Machinery - TITN - close: 12.30 change: -0.05 stop: 11.30

TITN provided us another entry point this morning with a dip toward $12.00 (actually 11.97). More cautious traders may want to wait for a rise over $12.75 before launching positions. 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:     - 0.25   			
Earnings Date          09/15/09 (unconfirmed)    
Average Daily Volume:       248 thousand
Listed on  August 15, 2009    


U.S.Natural Gas ETF - UNG - close: 12.01 change: -0.06 stop: 11.80

Uh-oh! UNG pulled back toward round-number and its July lows near $12.00 yesterday. After two weeks of declines it looked like a good spot to speculate on a bounce. That bounce failed to materialize today even though crude oil rocketed higher. I believe this is a warning sign. We have already labeled this an aggressive, higher-risk trade but readers may want to think twice and cut their position size down. If we don't see a bounce soon we'll exit early. This should be a quick in an out play. We'll take profits at $13.00 and again at $13.75.

Entry on    August 18 at $12.07 
Change since picked:     - 0.06   			
Earnings Date          00/00/00 
Average Daily Volume:      34.3 million 
Listed on  August 18, 2009    


BEARISH Play Updates

Akamai Tech. - AKAM - close: 17.93 chg: +0.09 stop: 20.05

It looks like AKAM is setting up for an oversold bounce. I would expect a rebound toward $19.00 or its 50-dma. Wait for the rally to fail before considering new bearish positions. Our first target is $16.25.

Entry on    August 11 at $18.44 
Change since picked:     - 0.51   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:      10.4 million 
Listed on  August 11, 2009    


CA Inc. - CA - close: 22.48 change: -0.02 stop: 22.85 *new*

Hmm... the market continues to rally and yet CA can't close in positive territory. I am adjusting our stop loss to $22.85. That way CA has to hit a new relative high to stop us out. I'd wait for a new drop under $22.00 before launching new positions.

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:     + 0.73   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:       6.6 million 
Listed on  August 17, 2009    


Expedia Inc. - EXPE - close: 21.88 change: +0.36 stop: 23.55

EXPE delivered a 1.6% gain but failed to close over $22.00 or its 10-dma. I'd still consider new bearish positions here but readers may want to wait for a little weakness first. 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:     + 0.03   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:       5.0 million 
Listed on  August 10, 2009    


St. Jude Medical - STJ - close: 37.86 change: +0.75 stop: 39.05

STJ erased yesterday's losses. If you want to get picky it also produced a bullish engulfing candlestick (bullish reversal) pattern. More conservative traders may want to ratchet down their stops toward the $38.50 level. 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:     - 0.46   			
Earnings Date          10/15/09 (unconfirmed)    
Average Daily Volume:       4.4 million 
Listed on  August 04, 2009    


Williams Cos. - WMB - close: 16.59 change: +0.28 stop: 17.55

Strength in the energy sector helped WMB manage a 1.7% gain. Watch for the bounce to roll over under $17.00 and use it as a new entry point. Our first target is $15.10. Our second target is $14.10.

Entry on    August 11 at $16.78 
Change since picked:     - 0.19   			
Earnings Date          11/05/09 (unconfirmed)    
Average Daily Volume:       5.6 million 
Listed on  August 11, 2009    


CLOSED BULLISH PLAYS

Hormel Foods - HRL - close: 37.24 change: +0.61 stop: 35.95

HRL finally turned in a bounce but our time has run out. The plan was to exit tonight at the closing bell to avoid earnings tomorrow.

chart:

Entry on      July 20 at $35.40 /gap higher entry
                              /originally listed at $35.25
Change since picked:     + 1.84<--exit early ahead of earnings (+5.1%)
                            /1st target exceeded @ 38.74 gap (+9.4%)
Earnings Date          08/20/09 (confirmed)    
Average Daily Volume:       486 thousand
Listed on  July 20, 2009