BULLISH Play Updates

China Mobile Ltd. - CHL - close: 48.21 chg: -1.01 stop: 47.90 *new*

If yesterday's test of support wasn't enough CHL tested the trendline and its 200-dma again. While this looks like a bullish entry point I'm concerned about the Chinese markets. The Shanghai index looks like it's poised for more declines. I am raising our stop loss to $47.90 but it may not do much good if CHL gaps open below it tomorrow. Our first target is $54.00. Our second target is $58.00. Our time frame is several weeks.

Entry on    August 31 at $48.73 /gap down entry point
Change since picked:     - 0.52   			
Earnings Date          00/00/?? (unconfirmed)    
Average Daily Volume:       2.3 million 
Listed on  August 29, 2009    


Capstone Turbine - CPST - close: 1.38 change: -0.08 stop: 0.94

CPST is still showing relative strength. The stock gained 6.1%. I am actually going to lower our trigger. If the broader market is correcting then CPST will follow. I'm adjusting our trigger to buy this stock down to $1.05 and we'll move the stop loss to .94.

CPST's P&F chart is bullish with a $2.88 target. I'm setting our first target to take profits at $1.50. We'll tentatively set a second target at $1.85. Remember, just because the stock is "cheap" don't go overboard.

Entry on    August xx at $xx.xx <-- TRIGGER @ 1.05
Change since picked:     + 0.00   			
Earnings Date          11/09/09 (unconfirmed)    
Average Daily Volume:       4.8 million 
Listed on  August 29, 2009    


Ford Motor Co. - F - close: 7.24 change: -0.36 stop: 7.39

Investors were disappointed with Ford's August auto sales. Analysts were expecting a +33% increase. Ford's sales came in at +21%. The stock ran into profit taking. Currently we have a breakout trigger at $7.85. I'm going to add a buy-the-dip trigger at $6.50 with a stop loss at $5.99 - use small positions. If triggered at $7.85 our first target is just under the old highs at $8.80. Our second target is $9.40.

Entry on    August xx at $xx.xx <-- TRIGGER @ 7.85 or $6.50
Change since picked:     + 0.00   			
Earnings Date          11/05/09 (unconfirmed)    
Average Daily Volume:        90 million 
Listed on  August 27, 2009    


IDEX Corp. - IEX - close: 26.26 change: -0.18 stop: 25.40

IEX is still consolidating and followed the market lower. Shares have support near $26.00 and again near $25.50. I am not suggesting new positions at this time. 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:     + 0.16   			
Earnings Date          07/20/09 (confirmed)    
Average Daily Volume:       570 thousand
Listed on  July 25, 2009    


J.P.Morgan Chase - JPM - close: 41.67 change: -1.79 stop: 39.99

I am going to repeat myself here. More conservative traders will want to use a much tighter stop loss or exit early right now! JPM looks like it's headed for the $40.00 level. I'm not suggesting new bullish positions at this time. 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:     - 1.83   			
Earnings Date          07/16/09 (confirmed)    
Average Daily Volume:        55 million 
Listed on  July 18, 2009    


Microsoft - MSFT - close: 24.00 change: -0.65 stop: 22.75

MSFT is pulling back to what should be support near $24.00 and a small crowd of moving averages. I'm tempted to buy the stock here but readers may want to wait a day or two and see how the broader market handles the current pull back. MSFT moves slowly so there's no big rush to jump in. Currently our target is $27.75.

Entry on      July 27 at $23.00
Change since picked:     + 1.00   			
Earnings Date          07/23/09 (confirmed)    
Average Daily Volume:        58 million 
Listed on  July 23, 2009    


Playboy Ent. - PLA - close: 2.62 change: -0.14 stop: 2.45

Our play on PLA has been triggered. The stock dipped to the $2.60 level and its 100-dma. We had a trigger to open positions at $2.65. If the sell off continues I'd look for another entry point near $2.50.

Our first target to take profits is at $3.30. Our second target is $3.95. FYI: The Point & Figure chart is bullish with a $7.50 target.

chart:

Entry on September 01 at $ 2.65
Change since picked:     - 0.03   			
Earnings Date          11/05/09 (unconfirmed)    
Average Daily Volume:       370 thousand
Listed on  August 29, 2009    


Oil States Intl. - OIS - close: 28.42 change: -1.05 stop: 27.95

OIS is nearing short-term support near $28.00. I'm very cautious given the breakdown under $30.00. More nimble traders could try buying a bounce from $28.00. More conservative traders may want to abandon ship, especially given the above average volume and failed rally at $30.00 this morning.

I'd wait for a new rise up through the $30.00 or $30.25 levels 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:     - 1.78   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:       738 thousand
Listed on  August 13, 2009    


Raytheon Co. - RTN - close: 46.56 change: -0.62 stop: 46.40

We are still on the sidelines with RTN. The plan is to buy a breakout over resistance. 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: 12.25 change: -0.41 stop: 11.70

SFL is pulling back toward short-term support near $12.00 and its rising 40 and 50-dma. Wait for a bounce before considering new positions. An alternative entry point would be to wait for a new rise over $13.50. Our first target is $14.80. Our second target is $17.00. Our time frame is several weeks.

Entry on    August 27 at $12.80 *triggered
Change since picked:     - 0.55   			
Earnings Date          11/27/09 (unconfirmed)    
Average Daily Volume:       499 thousand
Listed on  August 25, 2009    


Superior Energy - SPN - close: 18.00 change: -0.23 stop: 17.59 *new*

SPN came extremely close to hitting our stop loss this morning. The low was $17.74. I am adjusting our stop to $17.59, which is just under 50-dma. I'd wait for a rally over today's high (18.60) before launching new positions. 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:     - 0.42   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:       927 thousand
Listed on  August 24, 2009    


TEVA Pharmaceuticals - TEVA - close: 51.09 change: -0.41 stop: 48.95

TEVA has pulled back and is retesting the $51.00 level again. If the markets continue to slip TEVA will probably test round-number support at $50.00. I'm not suggesting new bullish positions at this time. 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:     + 0.59   			
Earnings Date          11/05/09 (unconfirmed)    
Average Daily Volume:       5.3 million 
Listed on  August 05, 2009    


BEARISH Play Updates

Akamai Tech. - AKAM - close: 16.83 chg: -0.80 stop: 18.60 *new*

AKAM is breaking down and gave up 4.5%. Shares have come close to filling the gap so we might see a bounce. I'm lowering our stop loss to $18.60. I am not suggesting new positions at this time. Our first target is $16.25. More aggressive traders may want to aim lower.

Entry on    August 11 at $18.44 
Change since picked:     - 1.61   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:      10.4 million 
Listed on  August 11, 2009    


Electronic Arts - ERTS - close: 17.82 change: -0.40 stop: 19.55 *new*

The oversold bounce failed near $18.50 and ERTS closed at new relative lows. I am lowering our stop loss to $19.55. Our first target to take profits is at $17.05. Our second and final target is at $16.15. FYI: The P&F chart is currently bearish with a $14 target.

Entry on    August 29 at $18.31 /gap down entry
                              /originally listed at $18.76
Change since picked:     - 0.49   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:       9.3 million 
Listed on  August 29, 2009    


CLOSED BULLISH PLAYS

America Movil - AMX - close: 43.37 change: -1.78 stop: 44.75

The correction in AMX is picking up speed. The stock lost another 3.9% on top of yesterday's decline. Shares plowed through both the $45.00 mark and the $44.00 level, which should have been stronger support. I'd keep AMX on your watch list for a dip near $40.00, which might be a bullish entry point.

chart:

*Breakout Trade*
Entry on    August 20 at $46.51 (small 1/4 sized position)
Change since picked:     - 1.76 <-- stopped @ 44.75 (-3.7%)
Earnings Date          07/21/09 (confirmed)    
Average Daily Volume:       4.3 million 
Listed on  August 01, 2009    


Bank of America - BAC - close: 16.46 change: -1.13 stop: 16.80

Banking stocks led the sell-off on Tuesday. The banking indices were off more than 5%. Shares of BAC gave up 6.4% and hit our stop loss at $16.80. I would look for a dip near $15.00 as a potential entry point to buy BAC again.

chart:

*Aggressive, buy-the-breakout strategy*
Entry on    August 21 at $17.50 *triggered (small positions)
Change since picked:     - 0.70<-- stopped out @ 16.80 (-4.0%)
Earnings Date          07/17/09 (confirmed)    
Average Daily Volume:       310 million 
Listed on  August 01, 2009    


Chicago Bridge - CBI - close: 14.82 change: -0.92 stop: 14.80

The stock market's plunge late this morning was enough to push CBI through support near $15.00. The stock hit our stop loss at $14.80. I'd keep CBI on your watch list as the $14.00 level should be stronger support. Our plan was to trade small position sizes (1/2 to 1/4 normal size).

chart:

Entry on    August 27 at $15.75 (small positions)
Change since picked:     - 0.95 <-- stopped @ 14.75 (-6.0%)
Earnings Date          10/28/09 (unconfirmed)    
Average Daily Volume:       1.3 million 
Listed on  August 27, 2009    


Fomento Economico Mexicano - FMX - close: 34.38 chg: -2.00 stop: 35.90

FMX is another Mexican stock that did not do well today. Shares fell through support at $36.00, at $35.00 and through their 50-dma. The stock actually gapped open lower at $35.67, which was under our stop at $35.90. I would look for stronger support near $30.00.

chart:

Entry on    August 31 at $37.50
Change since picked:     - 1.83<-- stopped out (-4.8%)
                         /gap down exit at $35.67
Earnings Date          10/26/09 (unconfirmed)    
Average Daily Volume:       766 thousand
Listed on  August 20, 2009    


Imperial Oil - IMO - close: 35.65 change: -0.21 stop: 34.49

I'm giving up on IMO. Shares should still have some support near $35.00 and the 200-dma but I'd rather trade stronger stocks in the oil sector. Exit early and cut our losses now.

chart:

Entry on    August 19 at $36.75 /gap higher entry point
                               /originally listed at $36.08
Change since picked:     - 1.10 <-- exit early @ 35.65 (-2.9%)
Earnings Date          10/30/09 (unconfirmed)    
Average Daily Volume:       291 thousand
Listed on  August 19, 2009    


Jacobs Engineering - JEC - cls: 43.37 chg: -0.61 stop: 41.90

JEC's attempt at follow through on yesterday's bounce was sold hard at the exponential 200-dma. I'm suggesting an early exit right now. We'll look at JEC again if shares find support near $42.00.

chart:

Entry on    August 26 at $45.25 *triggered         
Change since picked:     - 1.88 <-- exit early @ 43.37 (-4.1%)
Earnings Date          11/17/09 (unconfirmed)    
Average Daily Volume:       1.8 million 
Listed on  August 22, 2009    


Morgan Stanley - MS - close: 27.45 change: -1.51 stop: 27.90

The broker-dealers were big under performers today. The sector index lost more than 5%. Shares of MS gave up 5.2% and broke down under its long-term trendline of support. We were stopped out at $27.90.

chart:

Entry on    August 04 at $29.50 *triggered (1/2 position)  
Change since picked:     - 1.60<-- stopped @ 27.90 (-5.4%)
                              /1st target hit @ 31.50 (+6.7%)
Earnings Date          09/16/09 (unconfirmed)    
Average Daily Volume:        24 million 
Listed on  July 23, 2009    


Titan Machinery - TITN - close: 11.70 change: -0.35 stop: 11.90

TITN has now fallen five days in a row from $13.50 to $11.70. Our stop loss was hit at $11.90 when shares broke the trendline of higher lows.

chart:

Entry on    August 15 at $12.55 /gap down entry
                              /originally listed at $13.12
Change since picked:     - 0.65<--stopped @ 11.90 (-5.1%)
Earnings Date          09/15/09 (unconfirmed)    
Average Daily Volume:       248 thousand
Listed on  August 15, 2009