Financials helped lead the market higher with JPM really out performing and setting new highs for 2009.


BULLISH Play Updates

Agrium Inc. - AGU - close: 52.32 change: +0.66 stop: 48.90

AGU delivered a minor bounce. I would still wait for a bounce near $50.00 as a new bullish entry point. 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:     + 1.67   			
Earnings Date          11/05/09 (unconfirmed)    
Average Daily Volume:       1.9 million 
Listed on September 05, 2009    


Airgas Inc. - ARG - close: 50.21 change: +0.52 stop: 44.75

ARG continues to run higher. The stock is clearly short-term overbought. I'm suggesting readers buy ARG on a dip at $47.25. If triggered our first target is $52.45. Our second target is $54.85. More aggressive traders could aim higher. The Point & Figure chart is bullish and predicting a $74 target.

Entry on September xx at $xx.xx <-- TRIGGER @ 47.25
Change since picked:     + 0.00   			
Earnings Date          10/22/09 (unconfirmed)    
Average Daily Volume:       1.5 million 
Listed on September 19, 2009    


BE Aerospace - BEAV - close: 20.21 change: -0.03 stop: 17.45

BEAV is still hovering around the $20.00 level. Volume was a little above average, which might suggest someone was selling into the new highs. I am not suggesting new positions at this moment. Look for a dip towards $18.50. Our first target is $22.25.

Entry on September 12 at $19.19 
Change since picked:     + 1.02   			
Earnings Date          10/27/09 (unconfirmed)    
Average Daily Volume:       834 thousand
Listed on September 12, 2009    


China Mobile Ltd. - CHL - close: 52.13 chg: +1.49 stop: 47.90

CHL appears to be done consolidating. The stock gapped open higher and rallied past the $52.00 level in addition to its 30 and 50-dma. Shares closed up with a 2.9% gain. 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:     + 3.40  			
Earnings Date          00/00/?? (unconfirmed)    
Average Daily Volume:       2.3 million 
Listed on  August 29, 2009    


Carpenter Tech. - CRS - close: 25.32 change: +0.90 stop: 21.45

Steel and metal stocks were strong on Tuesday and CRS gained 3.6%. CRS has already hit our first target. Our secondary target is $27.40.

Entry on September 05 at $21.45 /gap higher entry
                             /originally listed at $20.92
Change since picked:     + 3.87
                             /1st target hit @ 24.90 (+16.0%)
Earnings Date          10/28/09 (unconfirmed)    
Average Daily Volume:       536 thousand
Listed on September 05, 2009    


Darden Restaurants - DRI - close: 36.78 chg: +0.06 stop: 33.95

DRI is still holding on to its gains. I'd look for a dip back toward $35.00, which should be new support. Our first target is the $39.40 mark.

FYI: Earnings are coming up at the end of September. We do not want to hold over the report.

Entry on September 05 at $34.82 
                              /originally listed at $34.41
Change since picked:     + 1.96   			
Earnings Date          09/29/09 (unconfirmed)    
Average Daily Volume:       2.6 million 
Listed on September 05, 2009    


E M C Corp. - EMC - close: 17.16 change: +0.31 stop: 15.24

Tech stocks were strong with the NASDAQ hitting a new high for the year. EMC managed its best close over $17.00 in months. We might want to consider raising our trigger but I'm keeping it at $15.75 for now. 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    


General Electric - GE - close: 17.01 change: +0.25 stop: 14.75

GE gained almost 1.5% and closed over $17.00. Shares still look a little overbought. I'm not suggesting new positions at this time. GE has already hit our first target. We're currently aiming for $18.50. I do consider this an aggressive trade so we want to keep our positions small.

Entry on September 14 at $15.49 /gap higher entry
                             /originally listed at $15.35
Change since picked:     + 1.52
                            /1st target hit @ 17.25 (+11.3%)
Earnings Date          10/16/09 (confirmed)    
Average Daily Volume:        83 million 
Listed on September 14, 2009    


Starwood Hotels - HOT - close: 34.06 change: +1.21 stop: 28.95

HOT delivered a nice bounce (+3.6%) but remains under resistance near $35.00. I'm raising our trigger to buy HOT from $30.50 to $31.00. If triggered our first target is $34.75. Our second target is $37.50. FYI: the Point & Figure chart is bullish with a $53 target. Plus HOT has above average short interest (more than 15% of the float) that can keep the rally going as bears cover their positions.

Entry on September xx at $xx.xx <-- TRIGGER @ 31.00
Change since picked:     + 0.00   			
Earnings Date          10/27/09 (unconfirmed)    
Average Daily Volume:       3.4 million 
Listed on September 19, 2009    


Helmerich & Payne Inc. - HP - close: 39.68 change: +0.75 stop: 37.15

The U.S. dollar fell to new 2009 lows, which fueled a rally in crude oil. This translated into gains for the oil stocks and HP rose 1.9%. More aggressive traders could use a wider stop. The P&F chart is bullish with a $52 target. I'm setting our first target at $42.50.

Entry on September 21 at $38.93 (1/2 a position)
Change since picked:     + 0.75   			
Earnings Date          11/19/09 (unconfirmed)    
Average Daily Volume:       1.2 million 
Listed on September 21, 2009    


IDEX Corp. - IEX - close: 28.25 change: -0.03 stop: 26.75

The trading in IEX is starting to turn a little more bearish. I expect a break under $28.00 soon. More conservative traders may want to exit completely right here. I'm not suggesting new positions at this time. Our first target has still not been hit at $29.85. Our second target is $32.00. The P&F chart is forecasting a $39 target.

Entry on    August 17 at $26.10 *triggered         
Change since picked:     + 2.15   			
Earnings Date          07/20/09 (confirmed)    
Average Daily Volume:       570 thousand
Listed on  July 25, 2009    


J.P.Morgan Chase - JPM - close: 46.47 change: +1.92 stop: 41.90 *new*

JPM had its earnings estimates raised this morning and the stock responded with a big 4.3% gain and a close over the $45.00 level. The stop loss has been raised to $41.90. I'm not suggesting new positions at this time. Please note a change in our exit strategy. We want to sell half at $47.40. We'll sell the second half at $49.80.

Our plan was to use smaller position sizes (1/2 to 1/4 our normal size). We plan to exit ahead of the mid October earnings report.

Entry on    August 21 at $43.50 *triggered (1/2 to 1/4 normal size)
Change since picked:     + 2.97   			
Earnings Date          10/14/09 (confirmed)    
Average Daily Volume:        55 million 
Listed on  July 18, 2009    


Kirby Corp. - KEX - close: 37.86 change: +0.23 stop: 35.25

Short-term technicals for KEX are starting to improve again. The stock looks ready to bounce back into its $38-39 trading range. 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:     + 0.16   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:       310 thousand
Listed on September 05, 2009    


Koppers Holdings - KOP - close: 31.79 change: -0.20 stop: 27.45

KOP is still slowly consolidating. I'm suggesting readers buy a dip at $30.10. We'll use a stop loss at $27.45. Our first target is $34.50. Our second target is $37.50 but it could take several weeks to get there. FYI: The P&F chart has a new triple-top breakout buy signal.

Entry on September xx at $xx.xx <-- TRIGGER @ 30.10
Change since picked:     + 0.00   			
Earnings Date          11/05/09 (unconfirmed)    
Average Daily Volume:       159 thousand
Listed on September 16, 2009    


Microsoft - MSFT - close: 25.77 change: +0.47 stop: 22.95

Relative strength in MSFT with a 1.8% gain was a big help for the all the major averages that this stock is a component for. The stock has now closed above its pre-earnings July high of $25.72. Our target is $27.75.

Entry on      July 27 at $23.00
Change since picked:     + 2.77   			
Earnings Date          07/23/09 (confirmed)    
Average Daily Volume:        58 million 
Listed on  July 23, 2009    


Pride Intl. Inc. - PDE - close: 30.88 change: +0.66 stop: 26.40

Nothing has changed. We're still waiting for a deeper pull back. A dip near $27.00 would be a 61.8% Fibonacci retracement of the August-September rally. The plan is to buy PDE at $27.65. Our first target is $30.45. Our second target is $33.45. We'll plan to exit ahead of the late October earnings report.

Entry on September xx at $xx.xx <-- see TRIGGER @ 27.65
Change since picked:     + 0.00   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:       3.7 million 
Listed on September 12, 2009    


Playboy Ent. - PLA - close: 2.93 change: -0.13 stop: 2.55

PLA is seeing some profit taking. Today's session has painted a small bearish engulfing candlestick pattern. I am expecting a pull back toward the $2.75 region. Consider buying the stock on a bounce in the $2.75-2.60 zone. Our second target remains the $3.95 level. Please note our new stop loss at $2.55. FYI: The Point & Figure chart is bullish with a long-term $7.50 target.

Entry on September 01 at $ 2.65
Change since picked:     + 0.26 
                            /take profits 09/16/09 (+17.7%)
Earnings Date          11/05/09 (unconfirmed)    
Average Daily Volume:       370 thousand
Listed on  August 29, 2009    


Rockwell Automation - ROK - close: 44.40 change: +0.66 stop: 39.95

ROK is rebounding back towards resistance at $45.00. I would prefer to open new bullish positions on a dip near $42.00. Our first target is the $49.00 mark. Our time frame is several weeks. FYI: The Point & Figure chart is bullish with a $61 target.

Entry on September 10 at $43.71 /gap higher entry
                           /originally listed at $43.15
Change since picked:     + 0.69   			
Earnings Date          11/10/09 (unconfirmed)    
Average Daily Volume:       1.4 million 
Listed on September 10, 2009    


Schlumberger - SLB - close: 61.57 change: +0.78 stop: 56.95

Strength in crude oil today helped SLB bouncing from the $60.00 level. I'm not suggesting new positions at this time. The stock has already hit our first target. Our second target is $67.50.

Entry on September 05 at $56.93 /gap higher entry
                             /originally listed at $55.87
Change since picked:     + 4.64
                             /1st target hit @ 62.50 (+9.7%)
Earnings Date          10/23/09 (unconfirmed)    
Average Daily Volume:       8.7 million 
Listed on September 05, 2009    


Market Vectors: Steel - SLX - close: 54.89 change: +1.26 stop: 47.49

Material stocks were strong on Tuesday and steel stocks helped lead the rally higher. The SLX gained 2.3%. I still don't want to chase it.

I'm suggesting readers buy the SLX at $50.25. We'll use a stop loss at $47.49 just in case it tries to fill the gap from September 8th. If triggered our first target is $54.75. Our second target is $59.50. Our time frame is several weeks.

Entry on September xx at $xx.xx <-- TRIGGER @ 50.25
Change since picked:     + 0.00   			
Earnings Date          00/00/00 
Average Daily Volume:       309 thousand
Listed on September 19, 2009    


TEVA Pharmaceuticals - TEVA - close: 50.94 change: -0.88 stop: 49.75

TEVA under performed on Tuesday and the recent action almost looks like a bear-flag pattern. However, TEVA has been trading sideways in the $50-53 zone for several weeks. I would still be tempted to buy dips in the $50.50-50.00 region. 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:     + 0.44   			
Earnings Date          11/03/09 (unconfirmed)    
Average Daily Volume:       5.3 million 
Listed on  August 05, 2009    


Ultra(Long) Financials - UYG - close: 6.24 change: +0.25 stop: 5.40

Financial stocks were showing relative strength and the UYG has rallied toward last week's highs. I'm not suggesting new positions at this time. UYG has already hit our first target. Our second target is $7.00.

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:     + 0.95
                             /1st target hit @ 6.00 (+13.4%)
Earnings Date          00/00/00 
Average Daily Volume:      47.8 million 
Listed on September 03, 2009    


BEARISH Play Updates

*We currently do not have any bearish play updates*