I'm seeing a few new entry points on existing plays with this bounce today. Plus, we had one stock tag our trigger with a dip toward support.


BULLISH Play Updates

Airgas Inc. - ARG - close: 48.61 change: +1.21 stop: 44.75

Perfect! ARG pulled back to tag our entry point on Friday and now it's rebounding.

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 25 at $47.25
Change since picked:     + 1.36   			
Earnings Date          10/22/09 (unconfirmed)    
Average Daily Volume:       1.5 million 
Listed on September 19, 2009    


BE Aerospace - BEAV - close: 19.84 change: +0.78 stop: 17.90

Wow! We got a big bounce out of BEAV today. Shares dipped to $18.82 this morning and then soared toward round-number resistance at $20.00. This move has produced a bullish engulfing candlestick pattern. This goes a long way toward negating last week's bearish reversal/top pattern on the weekly chart. Our first target is $22.25.

Entry on September 12 at $19.19 
Change since picked:     + 0.65   			
Earnings Date          10/27/09 (unconfirmed)    
Average Daily Volume:       834 thousand
Listed on September 12, 2009    


Cullen Frost Bankers - CFR - close: 51.74 change: +1.32 stop: 48.90

Banking stocks helped lead the market higher. CFR gained 2.6% and did so on above average volume. Our first target is $53.00.

Entry on September 26 at $50.42 
Change since picked:     + 1.32   			
Earnings Date          10/21/09 (unconfirmed)    
Average Daily Volume:       419 thousand
Listed on September 26, 2009    


China Mobile Ltd. - CHL - close: 49.94 chg: -0.16 stop: 47.90

Chinese markets were down sharply on Monday so it's not surprising to see CHL open lower. The stock managed to bounce from its lows but struggled under the $50 level all day long. 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.

Entry on    August 31 at $48.73 /gap down entry point
Change since picked:     + 1.21  			
Earnings Date          00/00/?? (unconfirmed)    
Average Daily Volume:       2.3 million 
Listed on  August 29, 2009    


Carpenter Tech. - CRS - close: 24.29 change: +0.38 stop: 21.45

The bounce in CRS today was pretty anemic. I don't see any changes from my weekend 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.

Entry on September 05 at $21.45 /gap higher entry
                             /originally listed at $20.92
Change since picked:     + 2.84
                             /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: 36.14 chg: +0.54 stop: 34.49

Tomorrow is our last day. We plan to exit at the closing bell unless DRI hits our target (38.00) or our stop (34.49).

DRI reports earnings on Sept. 29th after the closing bell.

Entry on September 05 at $34.82 
                              /originally listed at $34.41
Change since picked:     + 1.32   			
Earnings Date          09/29/09 (confirmed)    
Average Daily Volume:       2.6 million 
Listed on September 05, 2009    


E M C Corp. - EMC - close: 17.13 change: +0.33 stop: 15.24

EMC delivered a 1.9% bounce. I'm not suggesting anyone chase it here.

Currently our plan is to buy a dip at $15.75. 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    


Foster Wheeler - FWLT - close: 32.25 change: +1.11 stop: 29.95

FWLT delivered a nice bounce with a 3.5% gain on Monday. 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.

Picked on September 26 at $ 31.14 *adjusted entry point
Change since picked:       + 1.11
Earnings Date            11/04/09 (unconfirmed)
Average Daily Volume =        2.9 million  
Listed on September 24, 2009         


General Electric - GE - close: 16.76 change: +0.39 stop: 14.75

The widespread market bounce allowed GE to post a 2.3% gain. I'm not suggesting new positions at these levels.

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:     + 1.27
                            /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: 31.77 change: +0.29 stop: 28.95

HOT managed a 0.9% gain but struggled with the $32.00 level. I still suspect a pull back toward the $31-30 zone. Our trigger to open positions is at $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    


IDEX Corp. - IEX - close: 27.45 change: +0.15 stop: 26.75

The short-term trend is still down. If IEX continues to under perform we'll seriously consider an early exit. I'm not suggesting new positions at this time.

Our first target is $29.65. 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:     + 1.35   			
Earnings Date          07/19/09 (confirmed)    
Average Daily Volume:       570 thousand
Listed on  July 25, 2009    


J.P.Morgan Chase - JPM - close: 44.81 change: +1.16 stop: 41.90

Banks were popular today and JPM gained 2.6%. The move looks like a new bullish entry point. 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.

Entry on    August 21 at $43.50 *triggered (1/2 to 1/4 normal size)
Change since picked:     + 1.31   			
Earnings Date          10/14/09 (confirmed)    
Average Daily Volume:        55 million 
Listed on  July 18, 2009    


Kirby Corp. - KEX - close: 37.07 change: +0.76 stop: 35.85

Today's bounce helps but KEX still has a two-week trend of lower highs. Readers might want to wait for a new move over the 10-dma (currently at 37.62) before launching new 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.

Entry on September 08 at $37.70 /triggered/gap higher entry
Change since picked:     - 0.63   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:       310 thousand
Listed on September 05, 2009    


Koppers Holdings - KOP - close: 30.75 change: +0.05 stop: 27.90

Our play on KOP has been triggered. Something happened around the 10 o'clock hour that produced a sharp spike lower. KOP dipped to $29.91 before bouncing back. Our trigger to buy KOP was hit at $30.10.

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.

chart:

Entry on September 28 at $30.10
Change since picked:     + 0.65   			
Earnings Date          11/05/09 (unconfirmed)    
Average Daily Volume:       159 thousand
Listed on September 16, 2009    


Microsoft - MSFT - close: 25.83 change: +0.28 stop: 23.45

MSFT bounced back toward its recent highs. I'm not suggesting readers chase this move. The $24.50-24.00 level should offer some short-term support. I am adjusting our stop loss to $23.45. Our target is $27.75.

Entry on      July 27 at $23.00
Change since picked:     + 2.83   			
Earnings Date          07/23/09 (confirmed)    
Average Daily Volume:        58 million 
Listed on  July 23, 2009    


NII Holdings - NIHD - close: 29.61 change: -0.13 stop: 24.90

NIHD is still correcting and under performed the market. That's okay for now. We still need to see a 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.

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: 30.32 change: +0.98 stop: 26.40

Hmm... we may want to reconsider our entry point strategy on PDE. The $29.00 level is starting to look like decent support. I'll leave our trigger at $27.65 for now but we may want to jump in if the stock clears $31.00 again.

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.

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: 2.92 change: +0.07 stop: 2.59

PLA is still drifting sideways. The bounce today added 2.4%. Readers could buy this bounce 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.

Entry on September 01 at $ 2.65
Change since picked:     + 0.25 
                            /take profits 09/16/09 (+17.7%)
Earnings Date          11/05/09 (unconfirmed)    
Average Daily Volume:       370 thousand
Listed on  August 29, 2009    


Pioneer Natural Res. - PXD - cls: 35.98 change: +1.40 stop: 28.95

I don't see any changes from my weekend comments (yet). I'm suggesting readers buy PXD on a dip at $30.50. If triggered our first target is $34.50. Our second target is $38.50. The Point & Figure chart is bullish with a $50 target.

Entry on September xx at $xx.xx <-- TRIGGER @ 30.50
Change since picked:     + 0.00   			
Earnings Date          11/04/09 (unconfirmed)    
Average Daily Volume:       2.1 million 
Listed on September 26, 2009    


Rockwell Automation - ROK - close: 42.85 change: +0.61 stop: 39.95

I will repeat what I said over the weekend. This looks like a new bullish entry point. 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.

Entry on September 10 at $43.71 /gap higher entry
                           /originally listed at $43.15
Change since picked:     - 0.86   			
Earnings Date          11/10/09 (unconfirmed)    
Average Daily Volume:       1.4 million 
Listed on September 10, 2009    


Schlumberger - SLB - close: 60.53 change: +1.05 stop: 56.95

News that Iran was test firing missiles over the weekend pushed oil prices higher and that helped the oil service stocks. 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:     + 3.60
                             /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: 53.09 change: +0.92 stop: 47.49

We're still sitting on the sidelines with the SLX. The plan is to buy this ETF on a dip at $50.25. Yet the steel sector rallied 1.7% in spite of news that Goldman Sachs was turning bearish on the sector.

If we're 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: 51.61 change: +0.64 stop: 49.75

TEVA is pushing up through a cloud of moving averages and it's making progress against a short-term trend of lower highs.

Our first target is $54.75. Our second target is $59.50. Our original time frame was eight to ten weeks.

Entry on    August 17 at $50.50 *triggered                
Change since picked:     + 1.11   			
Earnings Date          11/03/09 (unconfirmed)    
Average Daily Volume:       5.3 million 
Listed on  August 05, 2009    


Ultra(Long) Financials - UYG - close: 6.04 change: +0.37 stop: 5.40

Financials stocks were a big part of today's rally and the UYG gained 6.5%. 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:     + 0.75
                             /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

Eli Lilly & Co - LLY - close: 33.04 change: +0.36 stop: 33.15

If LLY can close over its 50-dma near $33.50 I'll drop it as a bearish candidate. Otherwise I don't see any changes from my weekend comments.

I'm suggesting a trigger to open bearish positions at $31.85. If triggered our first target is $30.05. Our second target is $28.25 but that's being overly optimistic. We only have about three weeks before LLY reports earnings and we don't want to hold over the announcement.

Entry on September xx at $xx.xx <-- TRIGGER 31.85
Change since picked:     + 0.00   			
Earnings Date          10/20/09 (unconfirmed)    
Average Daily Volume:       6.6 million 
Listed on September 26, 2009