BULLISH Play Updates

Agrium Inc. - AGU - close: 50.28 change: -0.65 stop: 47.40

AGU provided us another bullish entry point today courtesy of Monsanto. Management at Monsanto (MON) issued an earnings warning for 2010 well below analysts' forecasts and the stock plunged today. This took AGU down with it this morning but AGU bounced. I'm suggesting new positions here. Our first target is $54.75. Our second target is $59.75. Currently the Point & Figure chart is bullish with a $59 target.

FYI: Agrium (AGU) is trying to buy rival firm CF Industries (CF) but CF keeps rejecting the offer calling it too low. At the same time CF is trying to buy Terra Industries (TRA) and TRA keeps rejecting the offer calling it too low. Eventually one of these companies is going to give up or they're finally going to make a big enough offer or somebody else might step in and start bidding. There is a risk that someone bids too much and the market could think they overpaid, which might push the stock lower. This M&A dance has been going on for months and it will probably continue for months so I'm not expecting it to have much short-term impact on the stock.

Entry on September 08 at $50.65 /gap higher entry  
Change since picked:     - 0.37   			
Earnings Date          11/05/09 (unconfirmed)    
Average Daily Volume:       1.9 million 
Listed on September 05, 2009    


Citigroup - C - close: 4.75 change: +0.09 stop: 4.29

After a very impressive rally in August Citigroup is still lagging the market and its peers this week. I hesitate to launch new positions without seeing more strength. I don't see any real changes from my prior comments.

You need to be sure you're comfortable with how much volatility you're willing to stomach here. C can easily dip back toward $4.30 and possibly the $4.20 level. More aggressive traders might want to adjust their stops down to $4.19-4.15.

Due to the volatility I'm suggesting very small position sizes. Our first target to take profits is at $5.40. Our second target to exit is $5.95.

Entry on September 03 at $ 4.87 /gap higher entry
                             /listed at $4.77
Change since picked:     - 0.19   			
Earnings Date          10/16/09 (unconfirmed)    
Average Daily Volume:       1.0 billion    
Listed on September 03, 2009    


Cracker Barrel - CBRL - close: 31.58 chg: -0.11 stop: 27.90

The momentum in the current rally stalled a bit today. We want to buy the stock near $30.00. I'm suggesting traders buy the dip at $30.15 but we can really use the $30.15-29.00 zone as an entry point. If triggered our first target is $32.75. Our second target is $34.90. Our time frame is six to eight weeks.

Entry on September xx at $xx.xx <-- TRIGGER @ 30.15
Change since picked:     + 0.00   			
Earnings Date          10/27/09 (unconfirmed)    
Average Daily Volume:           thousand
Listed on September 08, 2009    


China Mobile Ltd. - CHL - close: 50.77 chg: +0.77 stop: 47.90

The dip in CHL near $50.00 and its rising 100-dma looks like another bullish entry point. 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:     + 2.82   			
Earnings Date          00/00/?? (unconfirmed)    
Average Daily Volume:       2.3 million 
Listed on  August 29, 2009    


Capstone Turbine - CPST - close: 1.45 change: -0.09 stop: 0.98

CPST hit some profit taking on Thursday after Wednesday's big move. We don't want to chase the current rally. The plan is to buy a dip at $1.15 but that may be too optimistic to hope for a dip that big.

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 @ 1.15
Change since picked:     + 0.00   			
Earnings Date          11/09/09 (unconfirmed)    
Average Daily Volume:       4.8 million 
Listed on  August 29, 2009    


Carpenter Tech. - CRS - close: 23.63 change: +1.34 stop: 19.75

CRS displayed some relative strength with a 6% rally on Thursday. I'm not suggesting new bullish positions at these levels. Our first target is $24.90. More aggressive traders may want to aim higher.

Entry on September 05 at $21.45 /gap higher entry
                             /originally listed at $20.92
Change since picked:     + 2.18   			
Earnings Date          10/28/09 (unconfirmed)    
Average Daily Volume:       536 thousand
Listed on September 05, 2009    


Darden Restaurants - DRI - close: 34.70 chg: +0.00 stop: 32.45

DRI is still consolidating under resistance at $35.00. The stock closed unchanged on the session. Our first target is the $39.40 mark.

Entry on September 05 at $34.82 
                              /originally listed at $34.41
Change since picked:     - 0.12   			
Earnings Date          09/29/09 (unconfirmed)    
Average Daily Volume:       2.6 million 
Listed on September 05, 2009    


E M C Corp. - EMC - close: 16.99 change: +0.39 stop: 15.24

It looks like EMC is starting to run away from us but we don't want to chase it. Currently the plan is to buy EMC on a dip at $15.75. We'll use a stop loss under the September low. Our target to exit is $18.00. We'll plan to exit ahead of the late October earnings report.

Entry on September xx at $xx.xx <-- TRIGGER @ 15.75
Change since picked:     + 0.00   			
Earnings Date          10/22/09 (unconfirmed)    
Average Daily Volume:      19.6 million 
Listed on September 09, 2009    


Ford Motor Co. - F - close: 7.44 change: +0.05 stop: 7.39

Shares of Ford are still sleeping with the stock going nowhere. This sideways consolidation will see a breakout eventually. I'm suggesting we stay with the two strategies already listed.

We have a breakout trigger to buy F at $7.85 with a stop at $7.39.

We have a buy the dip trigger at $6.50 with a stop at $5.99. We want to trade small positions no matter what trigger F hits.

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: 29.14 change: -0.11 stop: 25.75

Readers may want to take profits now in IEX. The stock hit $29.71 this morning. Our first target to take profits is $29.85. IEX is a little extended and due for a pull back. I would sell most of our position at $29.85. We do have a second target at $32.00. The P&F chart is forecasting a $39 target.

Entry on    August 17 at $26.10 *triggered         
Change since picked:     + 3.14   			
Earnings Date          07/20/09 (confirmed)    
Average Daily Volume:       570 thousand
Listed on  July 25, 2009    


J.P.Morgan Chase - JPM - close: 43.02 change: +0.16 stop: 39.90

JPM is just drifting higher. If the stock rolls over here near $43.00 it will start to look like a bearish head-and-shoulders pattern forming. Our plan was to use smaller position sizes (1/2 to 1/4 our normal size). 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:     - 0.48   			
Earnings Date          07/16/09 (confirmed)    
Average Daily Volume:        55 million 
Listed on  July 18, 2009    


Kirby Corp. - KEX - close: 38.81 change: +0.66 stop: 35.25

KEX hit a new high for the year on an intraday basis and closed at its August highs. I don't see any changes from yesterday's comments. I'd prefer to open new positions in the $37.20-37.00 zone. Our first target to take profits is at $39.95. Our second and final target is $42.40. FYI: The P&F chart is bullish with a $57 target.

Entry on September 08 at $37.70 /triggered/gap higher entry
Change since picked:     + 1.11   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:       310 thousand
Listed on September 05, 2009    


Altria Group Inc. - MO - close: 18.53 change: -0.06 stop: 17.90

The action in MO was a little bearish today and volume spiked to 27 million shares. Don't be surprised to see a dip towards $18.25-18.20. Our first target is $19.90. The P&F chart is bullish with a $23.00 target. Our time frame is several weeks. Make sure you have the patience for this one before jumping in.

Entry on September 05 at $18.50 
Change since picked:     + 0.03   			
Earnings Date          10/22/09 (unconfirmed)    
Average Daily Volume:      15.5 million 
Listed on September 05, 2009    


Microsoft - MSFT - close: 25.00 change: +0.22 stop: 22.95

MSFT is testing round-number resistance at $25.00. If you're looking for a new entry point I'd buy dips near $24.00 and its 50-dma. Currently our target is $27.75.

Entry on      July 27 at $23.00
Change since picked:     + 2.00   			
Earnings Date          07/23/09 (confirmed)    
Average Daily Volume:        58 million 
Listed on  July 23, 2009    


Playboy Ent. - PLA - close: 2.86 change: +0.17 stop: 2.45

PLA is finally starting to show some life again. The stock gained more than 6% and broke through its exponential 200-dma.

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.

Entry on September 01 at $ 2.65
Change since picked:     + 0.21   			
Earnings Date          11/05/09 (unconfirmed)    
Average Daily Volume:       370 thousand
Listed on  August 29, 2009    


Raytheon Co. - RTN - close: 46.22 change: -0.22 stop: 46.40

RTN is still under performing. I don't see any changes from my prior comments. We'll probably drop RTN as a candidate tomorrow. Currently the plan is to buy RTN on a breakout higher with a trigger at $48.65. If triggered our first target is $52.50. Our second target is $54.85. If RTN breaks $45 we may want to go short.

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: 12.09 change: +0.06 stop: 11.70

SFL is not participating in the market rally and shares still have a short-term bearish trend of lower highs. I'm thinking about dropping SFL as a bullish candidate if we don't see some strength on Friday.

I'm not suggesting new bullish positions at this time. Our first target is $14.80. Our second target is $17.00. Our time frame is several weeks. FYI: The Point & Figure chart is bullish with a $28 target.

Entry on    August 27 at $12.80 *triggered
Change since picked:     - 0.71   			
Earnings Date          11/27/09 (unconfirmed)    
Average Daily Volume:       499 thousand
Listed on  August 25, 2009    


Schlumberger - SLB - close: 58.43 change: +1.07 stop: 53.85

SLB bounced from the bottom of its three-day trading range and shares look poised to run higher. Our first target is $62.50. Our second target is $67.50. FYI: The P&F chart is bullish with a $73 target.

Entry on September 05 at $56.93 /gap higher entry
                             /originally listed at $55.87
Change since picked:     + 1.50   			
Earnings Date          10/23/09 (unconfirmed)    
Average Daily Volume:       8.7 million 
Listed on September 05, 2009    


TEVA Pharmaceuticals - TEVA - close: 52.68 change: +0.27 stop: 49.75 *new*

The MACD indicator on TEVA's daily chart has turned bullish again. I'd use dips near $51.50 as a new entry point. I'm adjusting the stop loss to $49.75. 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:     + 2.18   			
Earnings Date          11/05/09 (unconfirmed)    
Average Daily Volume:       5.3 million 
Listed on  August 05, 2009    


Ultra(Long) Financials - UYG - close: 5.68 change: +0.09 stop: 4.90

Financials are still lagging the rest of the market. The S&P 500 is breaking out but the banking stocks are still facing potential resistance at their August highs.

Our first target to take profits is at $6.00. Our second target is $6.50. This can be a very volatile security. It's not for the faint of heart.

Entry on September 03 at $ 5.29 
Change since picked:     + 0.39   			
Earnings Date          00/00/00 
Average Daily Volume:      47.8 million 
Listed on September 03, 2009    


BEARISH Play Updates

Electronic Arts - ERTS - close: 18.05 change: -0.48 stop: 19.55

Goldman Sachs downgraded ERTS from a "buy" to a "neutral" this morning and shares lost 2.59% on the session. Volume was above average at 15.3 million shares. 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:     - 0.26   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:       9.3 million 
Listed on  August 29, 2009    


CLOSED BEARISH PLAYS

Akamai Tech. - AKAM - close: 18.11 chg: +0.32 stop: 18.60

I'm giving up on AKAM. The larger trend is still down but we don't want to fight the market, which is heading higher. Today's rally in AKAM pushed the stock above resistance near $18.00 and its 200-dma. Exit early now.

chart:

Entry on    August 11 at $18.44 
Change since picked:     - 0.33 <-- exit early $ 18.11 (-1.7%)
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:      10.4 million 
Listed on  August 11, 2009