BULLISH Play Updates

Autodesk Inc. - ADSK - close: 23.80 change: -0.40 stop: 23.20

ADSK is still trading sideways and did not violate its support with this morning's spike down. The plan is to buy ADSK on a breakout with a trigger at $24.75. More aggressive traders may want to buy it now. Our first target is $28.00.

Entry on September xx at $xx.xx <-- TRIGGER @ 24.75
Change since picked:     + 0.00   			
Earnings Date          11/19/09 (unconfirmed)    
Average Daily Volume:       3.4 million 
Listed on September 29, 2009    


Airgas Inc. - ARG - close: 48.37 change: -0.31 stop: 44.75

I was expecting a dip to $47.00 but ARG bounced at $47.63. I'm not convinced we should buy this bounce just yet. Let's see if there is any follow through tomorrow.

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:     + 1.12   			
Earnings Date          10/22/09 (unconfirmed)    
Average Daily Volume:       1.5 million 
Listed on September 19, 2009    


BE Aerospace - BEAV - close: 20.14 change: -0.16 stop: 17.90

BEAV managed to hold on to the $20 level and close out the third quarter with a 40% gain. I'm not suggesting new positions at this time. Our first target is $22.25.

Entry on September 12 at $19.19 
Change since picked:     + 0.95   			
Earnings Date          10/27/09 (unconfirmed)    
Average Daily Volume:       834 thousand
Listed on September 12, 2009    


Cullen Frost Bankers - CFR - close: 51.64 change: -0.22 stop: 48.90

Financial stocks saw their rally stall on Wednesday. CFR might see a dip back toward the $51.00-50.00 zone. I'd use a dip as a new entry point. Our first target is $53.00.

Entry on September 26 at $50.42 
Change since picked:     + 1.20   			
Earnings Date          10/21/09 (unconfirmed)    
Average Daily Volume:       419 thousand
Listed on September 26, 2009    


China Mobile Ltd. - CHL - close: 49.11 chg: -0.43 stop: 47.90

CHL slipped to its simple 200-dma and bounced. I would use this rebound off this technical support as a new entry point to buy CHL.

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:     + 0.38  			
Earnings Date          00/00/?? (unconfirmed)    
Average Daily Volume:       2.3 million 
Listed on  August 29, 2009    


Carpenter Tech. - CRS - close: 23.3995 change: -0.56 stop: 21.45

It looks like the correction in CRS is resuming. 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:     + 1.94
                             /1st target hit @ 24.90 (+16.0%)
Earnings Date          10/28/09 (unconfirmed)    
Average Daily Volume:       536 thousand
Listed on September 05, 2009    


Foster Wheeler - FWLT - close: 31.91 change: +0.22 stop: 29.95

FWLT provided us another entry point with a dip back toward $31.00 again. Shares rallied off their lows to close in positive territory.

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:       + 0.77
Earnings Date            11/04/09 (unconfirmed)
Average Daily Volume =        2.9 million  
Listed on September 24, 2009         


General Electric - GE - close: 16.42 change: -0.29 stop: 14.75

The short-term action in GE continues to look bearish. I would expect a dip toward $16.00 and probably the $15.00 region. 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:     + 0.93
                            /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: 33.03 change: +0.37 stop: 28.95

HOT is still showing relative strength. More aggressive traders may want to buy this bounce. I'm sticking to our plan and a trigger 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: 27.95 change: -0.34 stop: 26.95

Traders bought the dip in IEX again. If shares can close over $28.60 it will help confirm the trend is still higher. 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:     + 1.85   			
Earnings Date          07/19/09 (confirmed)    
Average Daily Volume:       570 thousand
Listed on  July 25, 2009    


J.P.Morgan Chase - JPM - close: 43.82 change: -1.06 stop: 41.90

JPM really under performed the market on Wednesday. This relative weakness has turned into another bearish signal. The long-term trend is still up but short-term JPM doesn't look so healthy. Hopefully this was just some end of quarter profit taking after a truly stunning +28% gain in the third quarter. If JPM closes under $43.00 we might exit early.

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:     + 0.32   			
Earnings Date          10/14/09 (confirmed)    
Average Daily Volume:        55 million 
Listed on  July 18, 2009    


Kirby Corp. - KEX - close: 36.82 change: -0.37 stop: 35.85

KEX has produced yet another bounce from the $36.00 level. I would still wait for a move over $37.70 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:     - 0.88   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:       310 thousand
Listed on September 05, 2009    


Koppers Holdings - KOP - close: 29.65 change: -0.48 stop: 27.90

It looks like we should have waited for the dip to $29.00 after all. KOP has now fallen 8 out of the last 9 trading days. The stock is now short-term oversold. The $29.00 level is support and I'd use this move as a new entry point. More conservative traders may want to wait for KOP to break the new trend of lower highs first, which would require a move over $31.00.

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:     - 0.45   			
Earnings Date          11/05/09 (unconfirmed)    
Average Daily Volume:       159 thousand
Listed on September 16, 2009    


Microsoft - MSFT - close: 25.72 change: -0.03 stop: 23.45

MSFT is still drifting sideways. 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:     + 2.72   			
Earnings Date          07/23/09 (confirmed)    
Average Daily Volume:        58 million 
Listed on  July 23, 2009    


NII Holdings - NIHD - close: 30.06 change: -0.06 stop: 24.90

NIHD continues to hold up pretty well in spite of the market's swoon this morning. We may want to reconsider our entry strategy but for now the plan is to buy a dip at $26.75. 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: 30.44 change: -0.36 stop: 26.40

PDE continues to drift sideways. 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: 3.02 change: +0.05 stop: 2.59

PLA displayed some relative strength with a 1.6% bounce and a close over the $3.00 mark.

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:     + 0.35 
                            /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: 36.29 change: -0.07 stop: 28.95

PXD is still trading near its 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: 42.60 change: -0.22 stop: 39.95

ROK was testing the $42.00 level again this morning. I'd like to see more of a bounce before launching 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:     - 1.11   			
Earnings Date          11/10/09 (unconfirmed)    
Average Daily Volume:       1.4 million 
Listed on September 10, 2009    


Schlumberger - SLB - close: 59.60 change: -0.82 stop: 56.95

Nothing has changed from my prior comments. 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:     + 2.67
                             /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: 52.73 change: -0.14 stop: 47.49

The SLX was drifting sideways on Wednesday. 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: 50.56 change: -0.63 stop: 49.75

We've got good news and bad news. The good news is that TEVA is still holding support at $50.00. The bad news is that the short-term trend of lower highs (bearish pattern) is getting worse.

I'd still buy dips (or bounces) in the $50.00-50.50 zone but you might want to inch up your stops toward the $50.00 mark.

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:     + 0.06   			
Earnings Date          11/03/09 (unconfirmed)    
Average Daily Volume:       5.3 million 
Listed on  August 05, 2009    


Ultra(Long) Financials - UYG - close: 5.91 change: -0.07 stop: 5.40

Financial stocks stumbled through the end of September with investors taking profits after a very strong quarterly performance. 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:     + 0.62
                             /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: 33.03 change: -0.39 stop: 33.15

LLY has produced a failed rally near $33.50 and its 50-dma. 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

E M C Corp. - EMC - close: 17.04 change: +0.02 stop: 15.24

I am giving up on EMC. The stock's been trading sideways for more than three weeks. I'll move it to my watch list to see if shares eventually correct or breakout over $17.50. Our trigger at $15.75 was never hit.

chart:

Entry on September xx at $xx.xx <-- TRIGGER @ 15.75
Change since picked:     + 0.00   			*never opened*
Earnings Date          10/22/09 (unconfirmed)    
Average Daily Volume:      19.6 million 
Listed on September 09, 2009    


NASDAQ OMX Group - NDAQ - close: 21.05 change: -0.29 stop: 20.90

NDAQ violated its trendline of support and traded under its 200-dma this morning. Shares also hit our stop loss at $20.90 in the process.

chart:

Entry on September 28 at $21.86 
Change since picked:     - 0.96 <-- stopped @ 20.90 (-4.3%)
Earnings Date          11/05/09 (unconfirmed)    
Average Daily Volume:       2.6 million 
Listed on September 26, 2009