BULLISH Play Updates

America Movil - AMX - close: 47.25 change: +0.85 stop: 44.15

After Thursday's bullish breakout AMX continues to rally and the MACD on the daily chart is nearing a new buy signal. If you're looking for a new entry point I would buy AMX on a dip near $46.00. Our first target to take profits is at $49.75.

Annotated chart:

*Breakout Trade*
Entry on    August 20 at $46.51 *triggered stop 44.15
Change since picked:     + 0.74   			

*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: 17.46 change: +0.32 stop: 16.35

The spike higher on Friday morning was enough for BAC to hit new highs for the year and our aggressive entry point at $17.50. The plan was to open small positions (1/2 to 1/4 our normal size) at $17.50 with a stop loss at $16.35. Our new target is $19.75.

Annotated chart:

*Aggressive, buy-the-breakout strategy*
Entry on    August 21 at $17.50 *triggered (small positions)
Change since picked:     - 0.04   			
Earnings Date          07/17/09 (confirmed)    
Average Daily Volume:       310 million 
Listed on  August 01, 2009    


Cardinal Health - CAH - close: 35.63 change: +0.89 stop: 32.40

Healthcare stocks under performed the market's rally on Friday but CAH was an exception. The stock surged past $35.00 and rallied 2.5% to close on its exponential 200-dma, which is potential resistance. Volume was strong, which is bullish. If you're looking for a bullish entry point I would wait for dips in the $35-34 zone. Our first short-term target to take profits is at $37.45. Our second is $39.85.

Annotated chart:

Entry on    August 19 at $34.98 
Change since picked:     + 0.65   			
Earnings Date          11/17/09 (unconfirmed)    
Average Daily Volume:       2.8 million 
Listed on  August 19, 2009    


Corn Products - CPO - close: 30.25 change: +0.12 stop: varies

CPO under performed the market most of the week. Shares have been stuck trading sideways in the $30.00-31.00 zone. Not participating in the market's rally is bearish. Yet not breaking support at $30.00 is bullish. Right now our plan is to buy CPO on a dip in the $29.25-28.00 zone and I'm raising our stop loss to $27.90. Our first target is $32.30. Our second target is $34.85. However, I'm adding an aggressive breakout trigger should CPO rally from here. If we will want to open small positions (1/2 to 1/4 our normal trade size) if CPO hits $31.15 and we'll use a stop loss at $29.85. Our first target for this trade is $33.90. FYI: The Point & Figure chart is bullish with a $45.00 target.

Annotated chart:

Entry on    August xx at $xx.xx <-- TRIGGER @ 29.25 or 31.15
Change since picked:     + 0.00   			
Earnings Date          10/22/09 (unconfirmed)    
Average Daily Volume:       687 thousand
Listed on  August 15, 2009    


Fomento Economico Mexicano - FMX - close: 38.92 chg: +0.77 stop: 35.99

FMX didn't have much chance to dip with the market spiking higher on Friday morning. I'm suggesting readers wait. The plan is to buy FMX on a dip at $37.50. Our first target to take profits is $40.00. Our second target to exit is $42.40. Currently the Point & Figure chart is bullish with a $66.00 target.

Annotated chart:

Entry on    August xx at $xx.xx <-- TRIGGER @ 37.50
Change since picked:     + 0.00   			
Earnings Date          10/26/09 (unconfirmed)    
Average Daily Volume:       766 thousand
Listed on  August 20, 2009    


IDEX Corp. - IEX - close: 27.60 change: +0.58 stop: 25.40 *new*

IEX has now broken through short-term resistance at $27.00. I'm raising our stop loss to $25.40. The next level of resistance is the August highs near $28.40. Our first target is $29.85. My time frame is six to eight weeks.

Annotated chart:

Entry on    August 17 at $26.10 *triggered         
Change since picked:     + 1.50   			
Earnings Date          07/20/09 (confirmed)    
Average Daily Volume:       570 thousand
Listed on  July 25, 2009    


Imperial Oil - IMO - close: 37.05 change: +0.82 stop: 34.49

Strength in the oil sector helped lift IMO to a 2.2% gain. Volume was a little bit above average. Shares do have potential resistance near $38.00 and a rather large cloud of moving averages. I would expect a pull back when IMO first challenges the $38.00 region. Our target is the $39.90 mark.

Annotated chart:

Entry on    August 19 at $36.75 /gap higher entry point
                               /originally listed at $36.08
Change since picked:     + 0.30   			
Earnings Date          10/30/09 (unconfirmed)    
Average Daily Volume:       291 thousand
Listed on  August 19, 2009    


J.P.Morgan Chase - JPM - close: 43.66 change: +1.24 stop: 39.99

Banks helped lead the rally on Friday and JPM broke out to new highs. We had an aggressive trigger to open small positions (1/2 to 1/4 normal size) at $43.50. Our new stop loss is at $39.99. Our target is $47.40. My time frame is about six weeks.

Annotated chart:

Entry on    August 21 at $43.50 *triggered   
Change since picked:     + 0.16   			
Earnings Date          07/16/09 (confirmed)    
Average Daily Volume:        55 million 
Listed on  July 18, 2009    


Lindsay Corp. - LNN - close: 45.13 change: +1.29 stop: varies

We've been waiting for a dip in LNN near $40 but that may not happen. I'm keeping the buy the dip trigger at $40.10 active and we'll raise the stop loss to $37.95. If triggered at $40.10 our first target is $44.90. However, I'm adding an aggressive breakout trigger to open small positions (1/2 to 1/4 normal size) at $46.25. If triggered at $46.25 we'll use a stop loss at $41.95 and our first target is $49.95. FYI: The point & figure chart is bullish with a $56.00 target.

Annotated chart:

Entry on    August xx at $xx.xx <-- TRIGGER @ 40.10 or 46.25
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: 29.69 change: +0.33 stop: 27.90

MS continues to bounce from its most recent test of the supporting trendline. Readers looking for entry points can buy dips in the $29.00-28.50 zone. MS has exceeded our first target at $31.50. We're currently aiming for our second target at $34.90 but MS has to breakout over resistance at $32.00 first.

Annotated chart:

Entry on    August 04 at $29.50 *triggered (1/2 position)  
Change since picked:     + 0.19
                              /1st target hit @ 31.50 (+6.7%)
Earnings Date          09/16/09 (unconfirmed)    
Average Daily Volume:        24 million 
Listed on  July 23, 2009    


Microsoft - MSFT - close: 24.41 change: +0.74 stop: 22.75 *new*

The outlook for MSFT has definitely improved. The stock has finally broken out from its recent trading range and is quickly approaching the late July highs near $24.50. Now that MSFT has reaffirmed its up trend we can get back to buying dips. I would use dips near $24.00 or $23.50 as an entry point. I'm raising the stop loss to $22.75. Currently our target is $27.75. FYI: I do have to offer one word of caution. MSFT is now testing the bottom edge of its previous bullish channel. This might actually be resistance, which should facilitate the next dip.

Annotated chart:

Entry on      July 27 at $23.00
Change since picked:     + 1.41   			
Earnings Date          07/23/09 (confirmed)    
Average Daily Volume:        58 million 
Listed on  July 23, 2009    


Oil States Intl. - OIS - close: 30.65 change: +1.46 stop: 27.95

The rally in oil stocks was pretty impressive on Friday. Shares of OIS managed to breakout past resistance near $30.00 and hit new highs for the year. It also hit our trigger to buy it at $30.20. I would still consider new positions here but odds are we'll see a better entry point on a dip near $29.50. Our first target is $34.00. Our second target is $38.00. My time frame is six to eight weeks.

Annotated chart:

Entry on    August 21 at $30.20 *triggered          
Change since picked:     + 0.45   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:       738 thousand
Listed on  August 13, 2009    


TEVA Pharmaceuticals - TEVA - close: 51.54 change: -0.16 stop: 48.95 *new*

TEVA spiked higher at the open but under performed the market on Friday. It looks like traders were starting to buy the dip Friday afternoon but I'd wait for another pull back near $50.50 before launching new positions. Please note our new stop loss at $48.95. More conservative traders may want to use a stop loss closer to $50.00. Our first target is $54.75. Our second target is $59.50. Our time frame is eight to ten weeks.

Annotated chart:

Entry on    August 17 at $50.50 *triggered                
Change since picked:     + 1.04   			
Earnings Date          11/05/09 (unconfirmed)    
Average Daily Volume:       5.3 million 
Listed on  August 05, 2009    


Titan Machinery - TITN - close: 13.12 change: +0.44 stop: 11.30

TITN has continued to bounce and shares are now over their exponential 200-dma. Volume was a little light though. I would still buy the bounce but more conservative traders might want to raise their stop loss a little more. Our upside targets is $14.75 and $15.85.

Annotated chart:

Entry on    August 15 at $12.55 /gap down entry
                              /originally listed at $13.12
Change since picked:     + 0.57   			
Earnings Date          09/15/09 (unconfirmed)    
Average Daily Volume:       248 thousand
Listed on  August 15, 2009    


BEARISH Play Updates

Akamai Tech. - AKAM - close: 18.42 chg: +0.46 stop: 19.51 *new*

We've been expecting an oversold bounce in AKAM but now with the market breaking out to new highs we may want to change our perspective. The three-month trend in AKAM is still down but I hesitate to open new bearish positions given the current market environment. More conservative traders will want to seriously consider an early exit right here. It's going to be easier to make money with bullish plays than bearish plays right now. The 50-dma is currently at $19.25. I am lowering our stop loss to $19.51. Our first target is $16.25.

Annotated chart:

Entry on    August 11 at $18.44 
Change since picked:     - 0.02   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:      10.4 million 
Listed on  August 11, 2009    


St. Jude Medical - STJ - close: 37.79 change: +0.15 stop: 38.75 *new*

STJ managed a bounce on Friday but the trend of lower highs is still in place. Given the current bullish market environment I would hesitate to open new bearish positions. I am inching our stop loss down to $38.75. 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.

Annotated chart:

Entry on    August 04 at $38.32 
Change since picked:     - 0.53   			
Earnings Date          10/15/09 (unconfirmed)    
Average Daily Volume:       4.4 million 
Listed on  August 04, 2009    


CLOSED BULLISH PLAYS

Ultra-Short Dow 30 - DXD - close: 37.01 change: -1.28 stop: 37.75

Instead of failing and rolling over at previous resistance the market's broke out on Friday. This pushed the DXD to new lows. Our aggressive (small position size) trade was stopped out at $37.75.

chart:

Entry on    August 18 at $40.11 /gap open entry
                              /originally listed at $39.48
Change since picked:     - 2.36<-- stopped out @ 37.75 (-5.8%)
Earnings Date          00/00/00 
Average Daily Volume:       6.3 million 
Listed on  August 18, 2009    


CLOSED BEARISH PLAYS

CA Inc. - CA - close: 22.99 change: +0.36 stop: 22.85

Our aggressive trade on CA didn't work. The market was too strong and shares broke to new 2009 highs. CA hit our stop loss at $22.85.

chart:

Entry on    August 17 at $21.75 
Change since picked:     + 1.10<-- stopped out @ 22.85 (+5.0%)
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:       6.6 million 
Listed on  August 17, 2009    


Expedia Inc. - EXPE - close: 22.90 change: +0.30 stop: 23.55

I'm giving up on EXPE. The market is just too strong right now to stay in such a high-risk trade. Yes, it's possible that EXPE will roll over under its August highs in the $23.20-23.40 zone but I'd rather cut our losses now.

chart:

Entry on    August 14 at $21.85 
Change since picked:     + 1.05<-- exit early (+4.8%)
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:       5.0 million 
Listed on  August 10, 2009    


Williams Cos. - WMB - close: 17.38 change: +0.42 stop: 17.55

I am suggesting an early exit in WMB. The energy sector has been in rally mode all week off its Monday lows. Even though natural gas is breaking down the natural gas stocks are still moving higher. We're going to cut our losses early.

chart:

Entry on    August 11 at $16.78 
Change since picked:     + 0.60 <-- exit early (+3.5%)
Earnings Date          11/05/09 (unconfirmed)    
Average Daily Volume:       5.6 million 
Listed on  August 11, 2009