The morning dip and the afternoon bounce has offered a new entry point on a few of our bullish candidates.


BULLISH Play Updates

America Movil - AMX - close: 46.76 change: -0.15 stop: 44.75

AMX slipped closer to $46.00 and hit its 10-dma before paring its losses. This may be a new entry point but don't be surprised to see a dip toward $45.00. Our first target to take profits is at $49.75.

*Breakout Trade*
Entry on    August 20 at $46.51 (small 1/4 sized position)
Change since picked:     + 0.40   			
Earnings Date          07/21/09 (confirmed)    
Average Daily Volume:       4.3 million 
Listed on  August 01, 2009    


Bank of America - BAC - close: 17.92 change: +0.13 stop: 16.35

The short-term trend of higher lows is still in place and BAC edges closer to the $18.00 level again. The stock remains overbought and due for a correction but momentum has been almost unstoppable. 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:     + 0.42   			
Earnings Date          07/17/09 (confirmed)    
Average Daily Volume:       310 million 
Listed on  August 01, 2009    


Bristow Group - BRS - close: 30.09 change: -0.28 stop: 28.80

I'm starting to think we were too early on BRS. The short-term trend is still down. Shares dipped to $29.22 this morning before bouncing but the bounce rolled over this afternoon. More conservative traders may want to exit early now and just wait for a new relative high over $31.30 to launch positions. I'm not suggesting new positions at this time. 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:     - 0.91   			
Earnings Date          11/05/09 (unconfirmed)    
Average Daily Volume:       289 thousand
Listed on  August 24, 2009    


Cardinal Health - CAH - close: 34.35 change: +0.35 stop: 32.90

Support near $34.00 is trading to hold. CAH did hit $33.75 before rebounding. Volume came in pretty strong but it's been strong for three days in a row. I do see today as a new bullish entry point but more conservative traders may want to tighten their stops to $33.50 or $33.70ish. 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:     - 0.98   			
Earnings Date          11/17/09 (unconfirmed)    
Average Daily Volume:       2.8 million 
Listed on  August 19, 2009    


Continental Airlines - CAL - close: 13.60 change: -0.05 stop: 11.95

Airline stocks under performed today probably due to the bounce in crude oil. Shares of CAL hit $13.05 before trimming its losses. I am upping our trigger to buy CAL from $12.20 to $12.55 and I'm upping our stop loss to $11.95. This is an aggressive trade on a volatile stock. We want to trade small position sizes. Our target is $15.50.

Entry on    August xx at $xx.xx <-- TRIGGER @ 12.55 *new*
Change since picked:     + 0.00   			
Earnings Date          10/15/09 (unconfirmed)    
Average Daily Volume:       7.2 million 
Listed on  August 22, 2009    


Fomento Economico Mexicano - FMX - close: 38.07 chg: -0.48 stop: 35.90

FMX continued to drift on Thursday. We are still waiting for a dip to $37.00 as an entry point to buy the stock. 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: 27.07 change: -0.23 stop: 25.40

The oversold bounce in IEX looks like it's starting to fade. I've been warning readers that the stock might retest the $26.00 level again. Shares hit $26.50 this morning before bouncing. Wait for dips near the 50-dma before considering new bullish entry points. 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:     + 0.97   			
Earnings Date          07/20/09 (confirmed)    
Average Daily Volume:       570 thousand
Listed on  July 25, 2009    


Imperial Oil - IMO - close: 36.37 change: +0.21 stop: 34.49

Today's bounce in IMO was encouraging but I would still wait for a bounce from the $35.00 level and its 200-dma. An alternative entry point would be to wait for a new rise over $37.00. Keep in mind that IMO has a big cloud of moving averages that represent potential resistance in the $37.50-38.00 zone. We want to trade small position sizes. 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:     - 0.38   			
Earnings Date          10/30/09 (unconfirmed)    
Average Daily Volume:       291 thousand
Listed on  August 19, 2009    


Jacobs Engineering - JEC - cls: 44.80 chg: -0.30 stop: 41.90

If you missed the entry point in JEC yesterday we got a better entry point today. The stock dipped to $43.75 near its 20-dma and rebounded. I am suggesting readers use the afternoon bounce as a new entry point to buy JEC. More conservative traders may want to raise their stops toward $43.00 or even toward today's low. Our first target is $49.75. Our second target is $53.00. Our time frame is four to six weeks.

Entry on    August 26 at $45.25 *triggered         
Change since picked:     - 0.45   			
Earnings Date          11/17/09 (unconfirmed)    
Average Daily Volume:       1.8 million 
Listed on  August 22, 2009    


J.P.Morgan Chase - JPM - close: 43.45 change: +0.15 stop: 39.99

JPM dipped toward $42.50 and its rising 10-dma and bounced. The trend is up but momentum is slowing. I would still be tempted to buy today's rebound. More conservative trades may want to use a tighter stop near $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:     - 0.05   			
Earnings Date          07/16/09 (confirmed)    
Average Daily Volume:        55 million 
Listed on  July 18, 2009    


Lindsay Corp. - LNN - close: 44.14 change: +0.19 stop: 41.95

LNN came close to testing last Wednesday's low near $42.60 before bouncing sharply this afternoon. I suggested readers look for a bounce near $43.00-42.50 as an entry point and we got it. Our first target is $49.95. FYI: The point & figure chart is bullish with a $56.00 target.

Entry on    August 25 at $46.25 *breakout trigger
Change since picked:     - 2.11   			
Earnings Date          10/07/09 (unconfirmed)    
Average Daily Volume:       256 thousand
Listed on  August 17, 2009    


Morgan Stanley - MS - close: 29.84 change: +0.31 stop: 27.90

The rebound in MS off its lows today near $29.20 looks like another bullish entry point.

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:     + 0.34
                              /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: 24.69 change: +0.14 stop: 22.75

Traders bought the dip in MSFT too. Tonight's better than expected earnings report from DELL should be a positive influence on MSFT tomorrow.

I would use dips near $24.00 as an entry point. 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:     + 1.69   			
Earnings Date          07/23/09 (confirmed)    
Average Daily Volume:        58 million 
Listed on  July 23, 2009    


Oil States Intl. - OIS - close: 30.28 change: -0.59 stop: 27.95

Today's pull back toward the $30.00 level in OIS is another bullish entry point. 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:     + 0.08   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:       738 thousand
Listed on  August 13, 2009    


Raytheon Co. - RTN - close: 47.76 change: +0.16 stop: 46.40

News that RTN won a $7 million Navy contract was not enough to move the stock price. Shares are still churning sideways. There is no change from my prior comments. 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    


Ship Finance Intl. - SFL - close: 13.17 change: +0.05 stop: 11.70

The market's widespread weakness this morning was enough to send SFL spiking lower. The stock gapped open at $13.14 and plunged to $12.66 before bouncing back into positive territory. We had a trigger to buy the dip at $12.80 so the play is now open. My only concern is that the bounce today at $13.30, which pretty much filled the gap down.

I would still consider opening bullish positions in the $13.00-12.70 zone but more conservative traders might be better off waiting for a new move over $13.50 (or raising their stop loss toward $12.50). Our first target is $14.80. Our second target is $17.00. Our time frame is several weeks.

chart:

Entry on    August 27 at $12.80 *triggered
Change since picked:     + 0.37   			
Earnings Date          11/27/09 (unconfirmed)    
Average Daily Volume:       499 thousand
Listed on  August 25, 2009    


Superior Energy - SPN - close: 18.42 change: -0.06 stop: 17.70 *new*

I've got good news and bad news with SPN. The stock's dip today was enough to hit our trigger to open bullish positions at $18.25. Unfortunately it was also a deep enough dip to hit our stop loss at $17.80. As a matter of fact the low today was $17.80.

I like the sharp rebound. I'm suggesting we re-initiate bullish positions now at $18.42 and we'll renew our stop loss at $17.70. Our first target to take profits is at $19.90. Our second and final target is at $21.75. I fully expect SPN to find resistance near $20.00 and its exponential 200-dma so the second target could take a while.

*New entry point*
Entry on    August 27 at $18.42 *new entry       
Change since picked:     + 0.00   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:       927 thousand
Listed on  August 24, 2009    

*Original Strategy: trigger 18.25, stop loss 17.80*
Entry on    August 27 at $18.25 *triggered @ 18.25
                               /Stopped @ 17.80 on the same dip
Change since picked:     - 0.45 (-2.4%)


TEVA Pharmaceuticals - TEVA - close: 51.38 change: -0.27 stop: 48.95

Right on cue TEVA dipped toward the $51.00 level and its rising 40-dma. 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:     + 0.88   			
Earnings Date          11/05/09 (unconfirmed)    
Average Daily Volume:       5.3 million 
Listed on  August 05, 2009    


Titan Machinery - TITN - close: 12.66 change: -0.38 stop: 11.90

Shares of TITN can be volatile and the stock gave up 2.9% this morning. I am suggesting readers use the pull back as another bullish entry point. 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:     + 0.11   			
Earnings Date          09/15/09 (unconfirmed)    
Average Daily Volume:       248 thousand
Listed on  August 15, 2009    


Weatherford Intl. - WFT - close: 20.51 change: +0.10 stop: 19.65 *new*

It looks like our stop loss was a little too tight last night. WFT gapped open lower at $20.46 and then fell to $19.85 (our stop) before bouncing back to unchanged. We will mark the loss but I'm suggesting readers go ahead and reopen positions on today's afternoon rebound. We'll adjust the stop loss to $19.65. We want to trade small position sizes (at least 1/2 to 1/4 our normal trade size). Our target to take profits is at $22.45.

*2nd Try as of August 27*
Entry on    August 27 at $20.51 *new entry
Change since picked:     + 0.00   			

*Original Plan - stopped at $19.85*
Entry on    August 26 at $20.46 /gap down entry
Change since picked:     - 0.61 <--stopped @ 19.85 (-2.9%)
Earnings Date          10/19/09 (unconfirmed)    
Average Daily Volume:        11 million 
Listed on  August 26, 2009    


World Accept. Corp. - WRLD - cls: 26.67 chg: +0.20 stop: 25.45

WRLD hit a new low for the week this morning but bounced back into positive territory. We are waiting for a new relative high over $27.00. The plan is to open small positions (1/2 to 1/4 our normal trade size). I'm suggesting a trigger at $27.05. If triggered our first target to take profits is at $29.95. Our second target is $33.50. More aggressive traders may want to use a wider stop and place their stop under $25.00 or its 30-dma.

If WRLD sees another short squeeze it could move fast. The most recent data listed short interest at 36% of the very small 15-million share float.

Entry on    August xx at $xx.xx <-- TRIGGER 27.05
Change since picked:     + 0.00   			
Earnings Date          10/22/09 (unconfirmed)    
Average Daily Volume:       320 thousand
Listed on  August 26, 2009    


BEARISH Play Updates

Akamai Tech. - AKAM - close: 18.03 chg: -0.07 stop: 19.11

AKAM is still trying to bounce from its 200-dma. The pattern of lower highs is still in place suggesting the trend is down. 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:     - 0.41   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:      10.4 million 
Listed on  August 11, 2009    


CLOSED BULLISH PLAYS

Corn Products - CPO - close: 30.23 change: +0.04 stop: 29.85

Our aggressive entry point on CPO did not pan out. The market's drop this morning was enough to push CPO to $29.43. Shares hit our stop loss at $29.85 along the way. While our play has been closed I'd keep CPO on your watch list. I suspect the stock will test the $29.00-28.00 zone soon.

chart:

Entry on    August 25 at $31.15 breakout trigger hit (small positions)
Change since picked:     - 1.30<-- stopped @ 29.85 (-4.1%)
Earnings Date          10/22/09 (unconfirmed)    
Average Daily Volume:       687 thousand
Listed on  August 15, 2009