BULLISH Play Updates

America Movil - AMX - close: 47.66 change: +0.76 stop: 44.15

AMX displayed some relative strength and closed up with a 1.6% gain. If you're looking for a new entry point I'd wait for a dip near $46.00 or $45.00. 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:     + 1.15   			

*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: 17.75 change: +0.40 stop: 16.35

BAC popped higher this morning, tested $18.00, and then drifted sideways. Shares still managed to close up 2.3%. Currently our target to take profits is at $19.75.

*Aggressive, buy-the-breakout strategy*
Entry on    August 21 at $17.50 *triggered (small positions)
Change since picked:     + 0.25   			
Earnings Date          07/17/09 (confirmed)    
Average Daily Volume:       310 million 
Listed on  August 01, 2009    


Bristow Group - BRS - close: 30.49 change: -0.28 stop: 28.80

The bounce in BRS stalled a bit. Shares gapped open higher at $31.00 and then retreated. I am still suggesting that more patient traders wait to buy a dip closer to $30.00. Our target is $33.90. The Point & Figure chart is much more bullish with a $49 target.

Entry on    August 24 at $31.00 /gap higher entry
                              /originally listed at $30.77
Change since picked:     - 0.51   			
Earnings Date          11/05/09 (unconfirmed)    
Average Daily Volume:       289 thousand
Listed on  August 24, 2009    


Cardinal Health - CAH - close: 34.50 change: -0.94 stop: 32.90 *new*

CAH under performed the market and its peers with a 2.6% decline on Tuesday. The dip to its 10-dma is probably another bullish entry point but the relative weakness is a concern. Broken resistance near $34.00 should be new support. I am raising our stop loss to $32.90. Our first short-term target to take profits is at $37.45. Our second is $39.85.

FYI: There was some news out today that CAH was spinning off its CareFusion Corp. as a publicly traded company (symbol: CFN) by August 31st. Furthermore CFN would be added to the S&P 500 on Sept. 1st. We may want to exit CAH ahead of the spin off.

Entry on    August 19 at $34.98 
Change since picked:     - 0.48   			
Earnings Date          11/17/09 (unconfirmed)    
Average Daily Volume:       2.8 million 
Listed on  August 19, 2009    


Continental Airlines - CAL - close: 13.65 change: +0.58 stop: 11.79

Airline stocks continued to perform well thanks to a sharp drop in crude oil. There was no follow through on CAL's bearish reversal pattern from Monday. It's worth noting that volume was relatively light today. Currently our plan is to buy CAL on a dip at $12.20. 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: 30.25 change: -0.53 stop: 29.85

CPO erased yesterday's gain with a 53-cent drop. To make matters worse CPO rallied to $31.28, which was enough to hit our aggressive trigger at $31.15, and then shares reversed and sold off for a 1.7% decline. Our aggressive entry point has been hit and our new stop loss is at $29.85. Our first target is $33.90. Unfortunately the action today looks like a bearish reversal. I am not suggesting new positions at this time.

chart:

Entry on    August 25 at $31.15 breakout trigger hit (small positions)
Change since picked:     - 0.90   			
Earnings Date          10/22/09 (unconfirmed)    
Average Daily Volume:       687 thousand
Listed on  August 15, 2009    


Fomento Economico Mexicano - FMX - close: 38.79 chg: +0.39 stop: 35.90

We are still waiting for a dip in shares of FMX. The plan is to buy the stock at $37.00. 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: +0.00 stop: 25.40

IEX closed unchanged on the day. I'm still expecting a 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: 36.68 change: -0.06 stop: 34.49

Oil stocks suffered thanks to a sharp 3% sell-off in crude oil. Yet IMO only lost 6 cents on the session. I am still expecting 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:     - 0.07   			
Earnings Date          10/30/09 (unconfirmed)    
Average Daily Volume:       291 thousand
Listed on  August 19, 2009    


Jacobs Engineering - JEC - cls: 46.40 chg: -0.28 stop: 41.90

I don't see any changes from my prior comments. 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: 43.58 change: +0.57 stop: 39.99

JPM tried to rally but struggled. The good news is that there was no follow through on yesterday's bearish reversal candlestick. Unfortunately today's session suggests investor indecision. Don't be surprised to see 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:     + 0.08   			
Earnings Date          07/16/09 (confirmed)    
Average Daily Volume:        55 million 
Listed on  July 18, 2009    


Lindsay Corp. - LNN - close: 46.62 change: +1.14 stop: 41.95

LNN continues to show relative strength and the stock broke out to new highs for 2009. We had an aggressive entry point to open small positions with a trigger at $46.25. Our stop is now $41.95. Our first target is $49.95. FYI: The point & figure chart is bullish with a $56.00 target.

chart:

Entry on    August 25 at $46.25 *breakout trigger
Change since picked:     + 0.37   			
Earnings Date          10/07/09 (unconfirmed)    
Average Daily Volume:       256 thousand
Listed on  August 17, 2009    


Morgan Stanley - MS - close: 30.19 change: +0.54 stop: 27.90

The broker-dealers were showing relative strength today and MS gained 1.8%. Volume was light on the session. If you're looking for an entry point I'd wait for 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.

Entry on    August 04 at $29.50 *triggered (1/2 position)  
Change since picked:     + 0.69
                              /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: +0.00 stop: 22.75

MSFT traded sideways in a 40-cent range and closed unchanged on the session. I do not see any changes from my previous comments:

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: 31.43 change: -0.16 stop: 27.95

OIS rallied toward $32.00 but didn't quite make it this morning. Weakness in the oil sector was too much to bear. However, the stock fared better than most of the oil stocks and only lost 0.5%. I would wait for a dip near $30.00 before considering new bullish positions. 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:     + 1.23   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:       738 thousand
Listed on  August 13, 2009    


Raytheon Co. - RTN - close: 47.69 change: -0.30 stop: 46.40

RTN is still contracting. We're still waiting for a breakout higher. 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    


Superior Energy - SPN - close: 19.04 change: -0.72 stop: 17.80

The low today was $18.83, which was almost enough to hit our trigger at $18.80. The stock has produced a bearish engulfing candlestick pattern, which makes me think SPN's dip will be a little bit dipper than expected. I am lowering our trigger to buy the stock to $18.25. We'll sell half our position (1st target) at $19.95. We'll sell the rest (2nd target) at $21.75. Time frame is about six to eight weeks.

Entry on    August xx at $xx.xx <-- TRIGGER 18.25
Change since picked:     + 0.00   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:       927 thousand
Listed on  August 24, 2009    


TEVA Pharmaceuticals - TEVA - close: 52.52 change: +0.30 stop: 48.95

TEVA is slowly gapping higher - at least this week. The stock jumped again and closed with a 0.5% gain. 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:     + 2.02   			
Earnings Date          11/05/09 (unconfirmed)    
Average Daily Volume:       5.3 million 
Listed on  August 05, 2009    


Titan Machinery - TITN - close: 13.44 change: +0.10 stop: 11.90 *new*

TITN rallied to the $13.50 level and then struggled the rest of the day. If you look at an intraday chart you can see just how tight a lid the $13.50 level was this afternoon. A breakout from here would be great but I'd expect a dip back toward the $13.00-12.50 zone. I am raising our stop loss to $11.90. 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:     + 0.89   			
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: -0.22 stop: 19.11

AKAM continues to under perform but the stock is approaching its 200-dma again. Volume was very light on the decline. I would not be surprised to see a bounce from the 200-dma. I am not suggesting new positions at this time. Our first target is $16.25.

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    


St. Jude Medical - STJ - close: 38.02 change: +0.10 stop: 38.75

I am starting to lean towards an early exit in STJ. Our stop loss isn't that far away. I suspect that if STJ can breakout past its 30-dma it will quickly surge higher and hit our stop at $38.75. More conservative traders may want to ratchet down their stops toward today's high. 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:     - 0.30   			
Earnings Date          10/15/09 (unconfirmed)    
Average Daily Volume:       4.4 million 
Listed on  August 04, 2009