We've only had one bullish candidate triggered on the market's recent pull back. We still have several ready to go if the dip continues. Please note our handful of new stops.


BULLISH Play Updates

Airgas Inc. - ARG - close: 47.40 change: -0.62 stop: 44.75

Our play on ARG is open. The stock has pulled back to what should be new resistance near $47.00 and hit our trigger at $47.25. If you're feeling cautious then wait for signs of a bounce first.

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.

Annotated chart:

Entry on September 25 at $47.25
Change since picked:     + 0.15   			
Earnings Date          10/22/09 (unconfirmed)    
Average Daily Volume:       1.5 million 
Listed on September 19, 2009    


BE Aerospace - BEAV - close: 19.06 change: -0.51 stop: 17.90

BEAV has found support near $19.00 on Friday. If the correction continues I would expect a dip toward $18.25. Wait for signs of a bounce before considering new bullish positions. I would offer one note of caution. The action last week looks like a bearish reversal on the weekly chart. Readers may want to scale back their position size to limit your risk. Our first target is $22.25.

Annotated chart:

Entry on September 12 at $19.19 
Change since picked:     - 0.13   			
Earnings Date          10/27/09 (unconfirmed)    
Average Daily Volume:       834 thousand
Listed on September 12, 2009    


China Mobile Ltd. - CHL - close: 50.10 chg: -0.29 stop: 47.90

The long-term trend for CHL is still up with the pattern of higher lows dating back to October 2008. Yet short-term most of the daily technical indicators are starting to roll over into a bearish posture. The stock has essentially traded sideways the last two and a half weeks. Readers may want to raise their stops but the only clear support is the $48.00 level from early September. I hesitate to launch new positions at this time.

Our first target is $54.00. Our second target is $58.00. Our time frame is several weeks. FYI: The P&F chart is still bullish with an $83 target.

Annotated chart:

Entry on    August 31 at $48.73 /gap down entry point
Change since picked:     + 1.37  			
Earnings Date          00/00/?? (unconfirmed)    
Average Daily Volume:       2.3 million 
Listed on  August 29, 2009    


Carpenter Tech. - CRS - close: 23.91 change: -0.58 stop: 21.45

I am repeating my earlier comments. More conservative traders will want to consider an early exit right now. I'm still expecting a dip back toward $22.50-22.00. The action over the last two weeks could be interpreted as a bearish double top pattern.

CRS has already hit our first target. Our secondary target is $27.40.

Annotated chart:

Entry on September 05 at $21.45 /gap higher entry
                             /originally listed at $20.92
Change since picked:     + 2.46
                             /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: 35.60 chg: +0.16 stop: 34.49 *new*

DRI displayed a little bit of relative strength on Friday as shares continue to bounce from a test of support near $35.00. We have two days left. DRI reports earnings on Sept. 29th after the closing bell. We will plan to exit on Tuesday at the close unless we're stopped out first (or it hits our target). Please note our new stop at $34.49, which is a little under last week's low. I'm adjusting our target down to $38.00 should DRI surprise us and rally.

Annotated chart:

Entry on September 05 at $34.82 
                              /originally listed at $34.41
Change since picked:     + 0.78   			
Earnings Date          09/29/09 (confirmed)    
Average Daily Volume:       2.6 million 
Listed on September 05, 2009    


E M C Corp. - EMC - close: 17.16 change: +0.06 stop: 15.24

EMC is finally starting to correct. More aggressive traders might want to up their trigger towards $16.00. I'm keeping our entry point at $15.75 for now. Our target to exit is $18.00. We'll plan to exit ahead of the late October earnings report.

Annotated chart:

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    


Foster Wheeler - FWLT - close: 31.14 change: -1.09 stop: 29.95 *new*

We need to adjust our entry. FWLT fell to $30.80 on Friday. Our suggested entry point was $30.75. Close but not close enough. I'm suggesting readers buy FWLT now at $31.14. We'll up our stop loss to $29.95. More cautious traders may want to wait for a bounce first.

Our first target is $34.75. Our second target is $37.50. FYI: The P&F chart is very bullish with a target north of $50.

Annotated chart:

Picked on September 26 at $ 31.14 *adjusted entry point
Change since picked:       + 0.00
Earnings Date            11/04/09 (unconfirmed)
Average Daily Volume =        2.9 million  
Listed on September 24, 2009         


General Electric - GE - close: 16.37 change: -0.21 stop: 14.75

GE is holding up reasonably well. The last two weeks appear to have built a bearish double top pattern. I would still expect a pull back toward the $15.00 region, which should be stronger support now bolstered by its exponential 200-dma. Readers may want to consider new bullish positions on another bounce near $15.00.

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.

Annotated chart:

Entry on September 14 at $15.49 /gap higher entry
                             /originally listed at $15.35
Change since picked:     + 0.88
                            /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: 31.48 change: -0.61 stop: 28.95

HOT lost another 1.9% on Friday but didn't hit our trigger at $31.00. I suspect the stock will do so this week. More conservative traders may want to use a trigger to buy the stock closer to the $30.00 level.

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.

Annotated chart:

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    


IDEX Corp. - IEX - close: 27.30 change: -0.26 stop: 26.75

I've been suggesting more cautious traders exit early the last few days, especially now that IEX has broken under the $28.00 level. Now shares have closed under the 50-dma. I'm starting to think the $26.00 level with its 100-dma and exponential 200-dma is going to act like a magnet.

I will repeat that readers may want to exit early. I'm not suggesting new positions at this time. I will adjust our first target down from $29.85 to $29.65. Our second target is $32.00. The P&F chart is forecasting a $39 target.

Annotated chart:

Entry on    August 17 at $26.10 *triggered         
Change since picked:     + 1.20   			
Earnings Date          07/19/09 (confirmed)    
Average Daily Volume:       570 thousand
Listed on  July 25, 2009    


J.P.Morgan Chase - JPM - close: 43.65 change: -0.72 stop: 41.90

After hitting new 2009 highs two weeks ago the major banking sector indices have stalled. JPM managed to hit new highs just last Tuesday but shares quickly reversed. The MACD indicator has produced a bearish divergence with price on the daily chart. I would wait for a bounce back above $44.25 before considering new positions. More conservative traders may want to ratchet up their stop toward the $42.50 level.

Our first target is $47.40. Our second target is $49.80. The plan was to use small position sizes (1/2 to 1/4 normal size). We'll exit ahead of October earnings if JPM last that long.

Annotated chart:

Entry on    August 21 at $43.50 *triggered (1/2 to 1/4 normal size)
Change since picked:     + 0.15   			
Earnings Date          10/14/09 (confirmed)    
Average Daily Volume:        55 million 
Listed on  July 18, 2009    


Kirby Corp. - KEX - close: 36.31 change: -0.50 stop: 35.85

We've been expecting the dip toward $36.00. Now shares are testing technical support at their 50-dma. Wait for a bounce before considering new bullish positions and only use small positions. 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.

Annotated chart:

Entry on September 08 at $37.70 /triggered/gap higher entry
Change since picked:     - 1.39   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:       310 thousand
Listed on September 05, 2009    


Koppers Holdings - KOP - close: 30.70 change: -0.20 stop: 27.90 *new*

KOP just marked its sixth down day in a row. The profit taking has been rather orderly with volume light on the pull back. The plan is to buy KOP at $30.10 but I will repeat that the $29.00 level should be stronger support and readers may want to wait for a dip closer to $29.00. I'm adjusting the stop loss to $27.90.

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.

Annotated chart:

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: 25.55 change: -0.39 stop: 23.45 *new*

MSFT climbed to new 2009 highs last week. Shares now look a little bit overbought with a three-week rally under its belt. The $24.50-24.00 level should offer some short-term support. I am adjusting our stop loss to $23.45. I'm not suggesting new bullish positions at this time. Our target is $27.75.

Annotated chart:

Entry on      July 27 at $23.00
Change since picked:     + 2.55   			
Earnings Date          07/23/09 (confirmed)    
Average Daily Volume:        58 million 
Listed on  July 23, 2009    


NII Holdings - NIHD - close: 29.74 change: -0.02 stop: 24.90

The two-cent decline in NIHD on Friday seems like relative strength given the market's decline. I still expect a correction and we'll wait for the pull back. I'm suggesting a trigger at $26.75 with a stop loss at $24.90. If triggered our first target is $31.00. FYI: The P&F chart is very bullish with a $57 target.

Annotated chart:

Entry on September xx at $xx.xx <-- TRIGGER @ 26.75
Change since picked:     + 0.00   			
Earnings Date          10/22/09 (unconfirmed)    
Average Daily Volume:       3.4 million 
Listed on September 23, 2009    


Pride Intl. Inc. - PDE - close: 29.34 change: -0.16 stop: 26.40

Oil and oil service stocks still look vulnerable. We're keeping our trigger to buy a dip at $27.65.

If triggered our first target is $30.45. Our second target is $33.45. We'll plan to exit ahead of the late October earnings report.

Annotated chart:

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: 2.85 change: -0.05 stop: 2.59

PLA gave up another 1.7% but some of the short-term technicals are suggesting the next move will be a bounce. Readers could buy a bounce from here but consider adjusting your stop loss higher!

Our second target remains the $3.95 level. FYI: The Point & Figure chart is bullish with a long-term $7.50 target.

Annotated chart:

Entry on September 01 at $ 2.65
Change since picked:     + 0.18 
                            /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: 42.24 change: -0.50 stop: 39.95

We got the pull back to $42.00 as expected. This looks like an entry point but with the major indices still sliding readers may want to wait for a bounce first. More cautious traders will want to consider a tighter stop loss. 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.

Annotated chart:

Entry on September 10 at $43.71 /gap higher entry
                           /originally listed at $43.15
Change since picked:     - 1.47   			
Earnings Date          11/10/09 (unconfirmed)    
Average Daily Volume:       1.4 million 
Listed on September 10, 2009    


Schlumberger - SLB - close: 59.48 change: +0.32 stop: 56.95

SLB managed a 0.5% bounce on Friday but I would still expect a dip closer to $58.00 before shares move much higher. The stock has already hit our first target. Our second target is $67.50.

Annotated chart:

Entry on September 05 at $56.93 /gap higher entry
                             /originally listed at $55.87
Change since picked:     + 2.55
                             /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: 52.17 change: -0.49 stop: 47.49

The SLX is getting closer. Our trigger to buy this ETF is 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.

Annotated chart:

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: 50.97 change: +0.22 stop: 49.75

Use caution! I have to warn readers that the action on Friday looks like a new lower high. If you step back TEVA has been trading sideways in the 50.00-53.00 zone for weeks. Yet short-term the pattern of lower highs suggests the next move will be a breakdown lower.

Readers may want to start scaling out of positions now to 1/2 or 1/4 your normal size. We can start adding more back in on a breakout over $53.00. Our first target is $54.75. Our second target is $59.50. Our original time frame was eight to ten weeks.

Annotated chart:

Entry on    August 17 at $50.50 *triggered                
Change since picked:     + 0.47   			
Earnings Date          11/03/09 (unconfirmed)    
Average Daily Volume:       5.3 million 
Listed on  August 05, 2009    


Ultra(Long) Financials - UYG - close: 5.67 change: -0.09 stop: 5.40

This is it. UYG is testing the $5.60-5.50 zone. Look for a bounce from here as a new entry point. 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.

Annotated chart:

Entry on September 03 at $ 5.29 
Change since picked:     + 0.38
                             /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*