Monday's bounce has stalled and many stocks have a short-term bearish tilt to them.


BULLISH Play Updates

Airgas Inc. - ARG - close: 48.68 change: +0.07 stop: 44.75

The bounce in ARG stalled today and the move looks more like a failed rally. This could suggest another test of the $47.00 level to come. I would still buy a bounce near $47.00.

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:     + 1.43   			
Earnings Date          10/22/09 (unconfirmed)    
Average Daily Volume:       1.5 million 
Listed on September 19, 2009    


BE Aerospace - BEAV - close: 20.30 change: +0.46 stop: 17.90

BEAV is still showing relative strength and managed to close over round-number resistance at $20.00. Our first target is $22.25.

Entry on September 12 at $19.19 
Change since picked:     + 1.11   			
Earnings Date          10/27/09 (unconfirmed)    
Average Daily Volume:       834 thousand
Listed on September 12, 2009    


Cullen Frost Bankers - CFR - close: 51.86 change: +0.12 stop: 48.90

The action in CFR today suggests the rally might be a little tired. Don't be surprised to see a dip back toward $51.00 soon. Our first target is $53.00.

Entry on September 26 at $50.42 
Change since picked:     + 1.42   			
Earnings Date          10/21/09 (unconfirmed)    
Average Daily Volume:       419 thousand
Listed on September 26, 2009    


China Mobile Ltd. - CHL - close: 49.54 chg: -0.40 stop: 47.90

The Chinese markets are still struggling a bit and CHL slipped to $48.93 before bouncing. The $48.00 level and the 200-dma near $48.40 should offer some support. A strong bounce from this level could be used as a new bullish entry point.

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:     + 0.81  			
Earnings Date          00/00/?? (unconfirmed)    
Average Daily Volume:       2.3 million 
Listed on  August 29, 2009    


Carpenter Tech. - CRS - close: 23.95 change: -0.34 stop: 21.45

I will repeat myself again. More cautious traders may want to abandon ship right here and lock in a gain. CRS looks like it's headed lower. I'm expecting support near $22.00.

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:     + 2.50
                             /1st target hit @ 24.90 (+16.0%)
Earnings Date          10/28/09 (unconfirmed)    
Average Daily Volume:       536 thousand
Listed on September 05, 2009    


E M C Corp. - EMC - close: 17.02 change: -0.11 stop: 15.24

EMC recoiled from its intraday high and looks poised to move lower.

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: 31.69 change: -0.56 stop: 29.95

FWLT suffered some profit taking after yesterday's bounce. I would still buy a bounce in the $31.00-30.00 zone.

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:       + 0.55
Earnings Date            11/04/09 (unconfirmed)
Average Daily Volume =        2.9 million  
Listed on September 24, 2009         


General Electric - GE - close: 16.71 change: -0.05 stop: 14.75

The bounce failed near $17.00 and GE looks poised to dip toward $16.00. 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:     + 1.22
                            /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: 32.66 change: +0.89 stop: 28.95

HOT is showing relative strength but we're going to wait for the dip. 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: 28.29 change: +0.84 stop: 26.95 *new*

Hmm... IEX delivered an interesting day. I was poised to drop it but suddenly shares rallied 3% with decent volume. We'll keep it for now. I am raising our stop loss a little to $26.95.

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:     + 2.19   			
Earnings Date          07/19/09 (confirmed)    
Average Daily Volume:       570 thousand
Listed on  July 25, 2009    


J.P.Morgan Chase - JPM - close: 44.88 change: +0.07 stop: 41.90

It was a quiet day for JPM. There is no change from my prior comments. 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:     + 1.38   			
Earnings Date          10/14/09 (confirmed)    
Average Daily Volume:        55 million 
Listed on  July 18, 2009    


Kirby Corp. - KEX - close: 37.19 change: +0.12 stop: 35.85

KEX turned in a volatile session. Shares open higher, immediately plunged to $36.00 and almost as quickly rallied into positive territory only to pare its gains by the closing bell. The intraday range was almost 5%. I would wait for KEX to rise above today's high (37.68) before considering new bullish 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:     - 0.51   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:       310 thousand
Listed on September 05, 2009    


Koppers Holdings - KOP - close: 30.13 change: -0.62 stop: 27.90

It looks like yesterday's test of the $30.00 level wasn't enough. KOP did it again today with a drop to $29.99. While I see this pull back to round-number support as a new entry point readers could wait for a dip near $29.00 or a new rise past $31.00 as alternative entry points.

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 28 at $30.10
Change since picked:     + 0.03   			
Earnings Date          11/05/09 (unconfirmed)    
Average Daily Volume:       159 thousand
Listed on September 16, 2009    


Microsoft - MSFT - close: 25.75 change: -0.08 stop: 23.45

I don't see any changes from my prior comments on MSFT. The $24.50-24.00 level should offer some short-term support. Our target is $27.75.

Entry on      July 27 at $23.00
Change since picked:     + 2.75   			
Earnings Date          07/23/09 (confirmed)    
Average Daily Volume:        58 million 
Listed on  July 23, 2009    


NASDAQ OMX Group - NDAQ - close: 21.34 change: -0.52 stop: 20.90

Uh-oh! NDAQ has reversed on us! The stock should still have support near $21.00 and its 200-dma but today's session was very bearish. NDAQ failed at $22.00 and its 10-dma and produced a bearish engulfing candlestick. I would wait for another bounce from $21.00 before considering new bullish positions.

Our first target is $23.75. Our second target is $27.00 but that could take several weeks to get there. FYI: The P&F chart is bullish with a $30 target.

Entry on September 28 at $21.86 
Change since picked:     - 0.52   			
Earnings Date          11/05/09 (unconfirmed)    
Average Daily Volume:       2.6 million 
Listed on September 26, 2009    


NII Holdings - NIHD - close: 30.12 change: +0.51 stop: 24.90

There is no change from my prior comments. 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: 30.80 change: +0.48 stop: 26.40

PDE displayed relative strength but the rally stalled at short-term resistance near $31.00. More aggressive traders may want to buy a breakout over $31.00. For now our plan is 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.

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: 2.97 change: +0.05 stop: 2.59

The bounce in PLA is nearing the $3.00 level, which could act as psychological resistance. Overall the trend remains bullish.

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:     + 0.30 
                            /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: 36.36 change: +0.38 stop: 28.95

PXD has also rallied toward recent resistance and its 2009 highs. We might want to consider small, aggressive positions on a move over $36.75. However, for now, the plan is to wait for 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: 42.82 change: -0.03 stop: 39.95

Warning! The action in ROK today was bearish. The stock was upgraded before the bell this morning and shares gapped open higher. Unfortunately traders immediately sold into strength and ROK closed at its lows for the session. I would expect another dip to $42.00 or its 50-dma near $41.40. Wait for a bounce before considering new positions.

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:     - 0.89   			
Earnings Date          11/10/09 (unconfirmed)    
Average Daily Volume:       1.4 million 
Listed on September 10, 2009    


Schlumberger - SLB - close: 60.42 change: -0.11 stop: 56.95

It was a quiet session for SLB with the stock drifting sideways in the $60-61 zone. I'm not suggesting new positions at this time. Wait for a bounce from the $58.00 level. 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:     + 3.49
                             /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: 52.87 change: -0.22 stop: 47.49

The bounce in SLX looks like it's rolling over. Shares should be headed for the $50 zone soon. The plan is to buy this ETF on a dip at $50.25.

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: 51.19 change: -0.42 stop: 49.75

TEVA continues to bounce around sideways. I would still buy dips (or better yet bounces) in the $50.50-50.00 zone. TEVA still has a short-term bearish trend of lower highs and resistance at $53.00.

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:     + 0.69   			
Earnings Date          11/03/09 (unconfirmed)    
Average Daily Volume:       5.3 million 
Listed on  August 05, 2009    


Ultra(Long) Financials - UYG - close: 5.98 change: -0.06 stop: 5.40

Banking stocks hit some profit taking. I'd consider new positions on a bounce near $5.75. 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:     + 0.69
                             /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

LLY rallied toward $33.50 and tagged its 50-dma before paring its gains. Yesterday I said that if LLY can close over its 50-dma I'll drop it as a bearish candidate. Right now the plan is to go short on a breakdown under $32.00.

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    


CLOSED BULLISH PLAYS

Darden Restaurants - DRI - close: 36.15 chg: +0.01 stop: 34.49

Sadly our DRI ended with a whimper. The stock failed to move ahead of its earnings report out tonight. Our plan was to exit at the closing bell. The company beat Wall Street estimates by 1 cent but missed the revenue estimates. The stock is trading lower around $33.80 in after hours.

chart:

Entry on September 05 at $34.82 
                              /originally listed at $34.41
Change since picked:     + 1.32 <-- early exit (+3.7%)
Earnings Date          09/29/09 (confirmed)    
Average Daily Volume:       2.6 million 
Listed on September 05, 2009