BULLISH Play Updates

America Movil - AMX - close: 46.90 change: -0.35 stop: 44.15

AMX may be getting tired. The stock spiked to $48.28 this morning and slide lower the rest of the session. I would expect another dip toward $46.00 and possibly $45.00. Wait for the bounce to jump in. Our first target to take profits is at $49.75.

*Breakout Trade*
Entry on    August 20 at $46.51 *triggered stop 44.15
Change since picked:     + 0.39   			

*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: 17.35 change: -0.11 stop: 16.35

The rally in banks might also be out of gas, at least short-term. BAC rallied to $18.20 and then gave it all back and more. The stock is probably headed for the $17.00-16.75 zone. The plan was to open small positions (1/2 to 1/4 our normal size). Our new target is $19.75.

*Aggressive, buy-the-breakout strategy*
Entry on    August 21 at $17.50 *triggered (small positions)
Change since picked:     - 0.15   			
Earnings Date          07/17/09 (confirmed)    
Average Daily Volume:       310 million 
Listed on  August 01, 2009    


Cardinal Health - CAH - close: 35.44 change: -0.19 stop: 32.40

Most of the healthcare stocks were able to maintain their gains today. CAH was not one of them. The stock lost 0.5%. I would wait for a dip into the $35.00-34.00 zone before considering new bullish positions. Our first short-term target to take profits is at $37.45. Our second is $39.85.

Entry on    August 19 at $34.98 
Change since picked:     + 0.46   			
Earnings Date          11/17/09 (unconfirmed)    
Average Daily Volume:       2.8 million 
Listed on  August 19, 2009    


Continental Airlines - CAL - close: 13.05 change: +1.01 stop: 11.79 *new*

Uh-oh! The action in CAL today looks dangerous. The stock spiked toward $14.50 and then gave back almost all of its gains. This looks like a blow-off top. Volume was strong. I am lowering our trigger to buy CAL down to $12.20 and I'm upping our stop loss to $11.79. We want to trade small position sizes. Our target is $15.50.

Entry on    August xx at $xx.xx <-- TRIGGER @ 12.20 *new*
Change since picked:     + 0.00   			
Earnings Date          10/15/09 (unconfirmed)    
Average Daily Volume:       7.2 million 
Listed on  August 22, 2009    


Corn Products - CPO - close: 30.78 change: +0.53 stop: varies

CPO began to rally this morning but it rolled over and CPO closed back in its 31-30 trading range. The high today was $31.13 so our play is still unopened. We have two different entry points.

Our breakout entry point to buy CPO is at $31.15. We'll use a stop loss at $29.85. Our first target would be $33.90.

Our buy the dip entry point is at $29.25 with a stop loss at $27.90. Our first target would be $32.30.

We want to trade small at only 1/2 to 1/4 our normal position sizes. FYI: The Point & Figure chart is bullish with a $45.00 target.

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: 38.40 chg: -0.52 stop: 35.90

The action in FMX today also looks like a short-term top/reversal. I am lowering our trigger to buy the dip from $37.50 down to $37.00. I'm adjusting the stop loss to $35.90. 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.

Entry on    August xx at $xx.xx <-- TRIGGER @ 37.00
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: 27.62 change: +0.02 stop: 25.40

It looks like the rally in IEX is also losing some steam. Don't be surprised to see another dip back toward $26.00. We can use a dip or a bounce near $26.00 as a new entry point. 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:     + 1.52   			
Earnings Date          07/20/09 (confirmed)    
Average Daily Volume:       570 thousand
Listed on  July 25, 2009    


Imperial Oil - IMO - close: 36.74 change: -0.31 stop: 34.49

The bounce in IMO is fading a bit but volume was light today. I would expect a dip back toward the $35.50-35.00 zone. Shares do have potential resistance near $38.00 and a rather large cloud of moving averages. Our target is the $39.90 mark.

Entry on    August 19 at $36.75 /gap higher entry point
                               /originally listed at $36.08
Change since picked:     - 0.01   			
Earnings Date          10/30/09 (unconfirmed)    
Average Daily Volume:       291 thousand
Listed on  August 19, 2009    


Jacobs Engineering - JEC - cls: 46.68 chg: -0.11 stop: 41.90

JEC hit new highs only to give up its gains on the session. We want to jump on board with a dip back toward $45.00. Our trigger to open positions is $45.25. Our stop loss is at $41.90. If triggered our first target is $49.75. Our second target is $53.00. Our time frame is four to six weeks.

Entry on    August xx at $xx.xx <-- TRIGGER @ 45.25
Change since picked:     + 0.00   			
Earnings Date          11/17/09 (unconfirmed)    
Average Daily Volume:       1.8 million 
Listed on  August 22, 2009    


J.P.Morgan Chase - JPM - close: 43.01 change: -0.65 stop: 39.99

JPM tagged a new high at $44.24 and then gave back about half of Friday's gains. I would look for a dip back toward $42.00. Our target is $47.40. My time frame is about six weeks.

Entry on    August 21 at $43.50 *triggered (1/2 to 1/4 normal size)
Change since picked:     - 0.49   			
Earnings Date          07/16/09 (confirmed)    
Average Daily Volume:        55 million 
Listed on  July 18, 2009    


Lindsay Corp. - LNN - close: 45.48 change: +0.35 stop: varies

LNN challenged resistance at $46.00 again but it held. We have two different entry points to open bullish positions.

Our aggressive buy the breakout trigger is at $46.25 with a stop loss at $41.95 and a target at $49.95. If triggered at $46.25 we want to use small positions.

Our buy the dip trigger is at $40.10 with a stop loss at $37.95. Our first target is $44.90. FYI: The point & figure chart is bullish with a $56.00 target.

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: 29.65 change: -0.04 stop: 27.90

Both GS and MS gave up their early morning gains. We can probably expect MS to dip back toward its trendline of support around $28.50 and its 50-dma. 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.

Entry on    August 04 at $29.50 *triggered (1/2 position)  
Change since picked:     + 0.15
                              /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: 24.64 change: +0.23 stop: 22.75

MSFT is still showing relative strength with a 0.9% gain on Monday. 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.

Entry on      July 27 at $23.00
Change since picked:     + 1.64   			
Earnings Date          07/23/09 (confirmed)    
Average Daily Volume:        58 million 
Listed on  July 23, 2009    


Oil States Intl. - OIS - close: 31.59 change: +0.94 stop: 27.95

OIS continues to rally following Friday's breakout above resistance. The stock displayed impressive relative strength with a 3% gain on above average volume. Our first target is $34.00. Our second target is $38.00. My time frame is six to eight weeks.

Entry on    August 21 at $30.20 *triggered          
Change since picked:     + 1.39   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:       738 thousand
Listed on  August 13, 2009    


Raytheon Co. - RTN - close: 47.99 change: -0.23 stop: 46.40

There is no change from my weekend comments. We're waiting for RTN to breakout over resistance near $48.50. Our trigger to buy the stock is at $48.65. We'll use a stop loss under the recent low. If triggered our first target is $52.50. Our second target is $54.85.

Entry on    August xx at $xx.xx <-- TRIGGER 48.65
Change since picked:     + 0.00   			
Earnings Date          10/22/09 (unconfirmed)    
Average Daily Volume:       2.7 million 
Listed on  August 22, 2009    


TEVA Pharmaceuticals - TEVA - close: 52.22 change: +0.68 stop: 48.95

TEVA gapped higher this morning and spent the rest of Monday churning sideways. 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.

Entry on    August 17 at $50.50 *triggered                
Change since picked:     + 1.72   			
Earnings Date          11/05/09 (unconfirmed)    
Average Daily Volume:       5.3 million 
Listed on  August 05, 2009    


Titan Machinery - TITN - close: 13.34 change: +0.22 stop: 11.30

TITN continues to inch higher although volume was pretty light. More conservative traders may want to raise their stops toward $12.00. I'd look to buy dips in the $13.00-12.50 zone. Our upside targets are $14.75 and $15.85.

Entry on    August 15 at $12.55 /gap down entry
                              /originally listed at $13.12
Change since picked:     + 0.79   			
Earnings Date          09/15/09 (unconfirmed)    
Average Daily Volume:       248 thousand
Listed on  August 15, 2009    


BEARISH Play Updates

Akamai Tech. - AKAM - close: 18.06 chg: -0.36 stop: 19.11 *new*

AKAM produced a bearish reversal/bearish engulfing candlestick pattern. This could be used as a new entry point but readers should take careful note that volume was very light today. I'm lowering our stop loss to $19.11. If you want to launch positions now you may want to lower your stop closer to $18.50 instead. Our first target is $16.25.

Entry on    August 11 at $18.44 
Change since picked:     - 0.38   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:      10.4 million 
Listed on  August 11, 2009    


St. Jude Medical - STJ - close: 37.92 change: +0.13 stop: 38.75

STJ drifted higher for a minor gain. I am 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:     - 0.40   			
Earnings Date          10/15/09 (unconfirmed)    
Average Daily Volume:       4.4 million 
Listed on  August 04, 2009