The fourth quarter began on a sour note with stocks in a widespread sell-off.


BULLISH Play Updates

Airgas Inc. - ARG - close: 46.86 change: -1.51 stop: 44.75

ARG continues to slide and shares are testing what should be short-term support in the $47-46 zone. More conservative traders may want to raise their stops toward $46.00. I'm not suggesting new positions at this time.

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:     - 0.39   			
Earnings Date          10/22/09 (unconfirmed)    
Average Daily Volume:       1.5 million 
Listed on September 19, 2009    


BE Aerospace - BEAV - close: 18.77 change: -1.37 stop: 17.90

Profit taking in BEAV shaved off 6.8%. The stock closed under Monday's low, which is short-term bearish. I'm expecting additional support in the $18.50-18.00 zone. Keep an eye on the 40-dma, which is where BEAV bounced in early September. 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:     - 0.42   			
Earnings Date          10/27/09 (unconfirmed)    
Average Daily Volume:       834 thousand
Listed on September 12, 2009    


Cullen Frost Bankers - CFR - close: 49.94 change: -1.70 stop: 48.90

Ouch! That was a painful move for CFR. The stock lost almost 3.3% and fell back toward round-number support at $50.00. Financials were under performing today as investors took profits. What really concerns me with CFR is the volume. Volume was over 1 million shares yesterday and today, which smells like distribution - someone is getting out. More conservative traders may want to raise their stop loss!

Wait for a bounce before considering new positions. Our first target is $53.00.

Entry on September 26 at $50.42 
Change since picked:     - 0.48   			
Earnings Date          10/21/09 (unconfirmed)    
Average Daily Volume:       419 thousand
Listed on September 26, 2009    


Carpenter Tech. - CRS - close: 22.63 change: -0.76 stop: 21.45

CRS is now down about 13% from its recent highs. The stock is approaching potential support near $22.00. Wait for a bounce before considering new bullish positions.

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:     + 1.18
                             /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: 30.31 change: -1.59 stop: 29.95

FWLT is now testing support near $30.00. If there is any follow through tomorrow we'll most likely get stopped out at $29.95. If shares bounce from $30.00 I'd use it as a bullish entry point.

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:       - 0.83
Earnings Date            11/04/09 (unconfirmed)
Average Daily Volume =        2.9 million  
Listed on September 24, 2009         


General Electric - GE - close: 15.97 change: -0.45 stop: 14.75

GE closed under the $16.00 mark and should be headed for $15.00. 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:     + 0.48
                            /1st target hit @ 17.25 (+11.3%)
Earnings Date          10/16/09 (confirmed)    
Average Daily Volume:        83 million 
Listed on September 14, 2009    


Gold Fields Ltd - GFI - close: 13.43 change: -0.35 stop: 12.99

GFI wasn't quite as volatile as some of its peers. Shares are still holding above short-term technical support at the 30-dma. I would use a bounce from here as a new bullish entry point.

Our first target is $15.75. The Point & Figure chart is very bullish with a $21 target.

Entry on September 30 at $13.78 
Change since picked:     - 0.35   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:       7.7 million 
Listed on September 30, 2009    


Starwood Hotels - HOT - close: 30.78 change: -2.25 stop: 28.95

We've been patient and HOT finally dipped into our entry zone of $31.00-30.00. If you didn't buy the dip then look for a bounce near $30.00 as an entry.

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.

chart:

Entry on   October 01 at $31.00
Change since picked:     - 0.22   			
Earnings Date          10/27/09 (unconfirmed)    
Average Daily Volume:       3.4 million 
Listed on September 19, 2009    


Koppers Holdings - KOP - close: 28.50 change: -1.15 stop: 27.90

The correction in KOP is getting a little extreme. The stock is down 9 out of the last 10 days and just broke what should have been support at $29.00. More conservative traders may want to exit early immediately. Yet I see potential support at the 50-dma near $28.30. Wait for a bounce before considering new bullish positions.

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:     - 1.60   			
Earnings Date          11/05/09 (unconfirmed)    
Average Daily Volume:       159 thousand
Listed on September 16, 2009    


Microsoft - MSFT - close: 24.88 change: -0.84 stop: 23.45

MSFT is finally seeing some profit taking after a multi-week run higher. 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:     + 1.88   			
Earnings Date          07/23/09 (confirmed)    
Average Daily Volume:        58 million 
Listed on  July 23, 2009    


NII Holdings - NIHD - close: 28.86 change: -1.20 stop: 24.90

The correction has begun. We're looking 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: 29.35 change: -1.09 stop: 26.40

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: 3.00 change: -0.02 stop: 2.59

PLA held up pretty well. Shares fell to $2.86 but rallied back to almost unchanged. More conservative traders may want to raise their stops toward the $2.70-2.79 region.

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:     + 0.33 
                            /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: 34.85 change: -1.44 stop: 28.95

PXD is starting to correct but still has short-term support near $34.00. Currently our 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: 41.12 change: -1.48 stop: 39.95

Uh-oh! We might be in trouble here. ROK has closed under support at $42.00 and under technical support at its 50-dma. More conservative traders will want to seriously consider an early exit right now. I see ROK dipping toward round-number support near $40 soon. I'm not suggesting new positions at this time.

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:     - 2.59   			
Earnings Date          11/10/09 (unconfirmed)    
Average Daily Volume:       1.4 million 
Listed on September 10, 2009    


Schlumberger - SLB - close: 57.13 change: -2.47 stop: 56.95

The action in SLB is worrisome. Shares plunged right through support near $58.00. It won't take much for SLB to tag our stop loss at $56.95, less than 20 cents away. 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:     + 0.20
                             /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: 50.24 change: -2.49 stop: 47.49

Our trade on SLX has been opened. This steel sector ETF lost 4.7% and hit $50.24 late this afternoon. Our trigger to buy it was $50.25. More conservative traders may want to wait for a bounce first before initiating positions.

Our first target is $54.75. Our second target is $59.50. Our time frame is several weeks.

chart:

Entry on   October 01 at $50.25 *triggered
Change since picked:     - 0.01   			
Earnings Date          00/00/00 
Average Daily Volume:       309 thousand
Listed on September 19, 2009    


Ultra(Long) Financials - UYG - close: 5.44 change: -0.47 stop: 5.40

Financials were some of the worst performers today as investors locked in profits. The UYG gave up almost 8%. Wait for a bounce before considering new positions. 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:     + 0.15
                             /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: 32.65 change: -0.38 stop: 33.15

LLY slipped lower after yesterday's bearish reversal but we're still waiting for 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

Autodesk Inc. - ADSK - close: 22.85 change: -0.95 stop: 23.20

ADSK performed a lot worse than expected. Shares lost about 4% and broke down from their consolidation pattern. We had a trigger to buy ADSK at $24.75, which has not been hit. I'm dropping it as a bullish candidate.

chart:

Entry on September xx at $xx.xx <-- TRIGGER @ 24.75
Change since picked:     + 0.00   			*never opened*
Earnings Date          11/19/09 (unconfirmed)    
Average Daily Volume:       3.4 million 
Listed on September 29, 2009    


China Mobile Ltd. - CHL - close: 48.07 chg: -1.04 stop: 47.90

Our CHL has been closed. The stock broke down under its 200-dma and the $48.00 level to hit our stop loss at $47.90. If shares close under $48.00 readers might want to consider bearish strategies.

chart:

Entry on    August 31 at $48.73 /gap down entry point
Change since picked:     - 0.83<-- stopped @ 47.90 (-1.7%)
Earnings Date          00/00/?? (unconfirmed)    
Average Daily Volume:       2.3 million 
Listed on  August 29, 2009    


IDEX Corp. - IEX - close: 26.82 change: -1.13 stop: 26.95

The bounce in IEX has reversed and shares broke support near $27.00 and hit our stop loss at $26.95.

chart:

Entry on    August 17 at $26.10 *triggered         
Change since picked:     + 0.85 <-- stopped @ 26.95 (+3.2%)
Earnings Date          07/19/09 (confirmed)    
Average Daily Volume:       570 thousand
Listed on  July 25, 2009    


J.P.Morgan Chase - JPM - close: 41.37 change: -2.45 stop: 41.90

The correction in financial stocks continued and JPM hit our stop loss at $41.90. The next level of potential support is the $40.00 mark. The plan was to use small position sizes (1/2 to 1/4 normal size).

chart:

Entry on    August 21 at $43.50 *triggered (1/2 to 1/4 normal size)
Change since picked:     - 1.60<-- stopped @ 41.90 (-3.6%)
Earnings Date          10/14/09 (confirmed)    
Average Daily Volume:        55 million 
Listed on  July 18, 2009    


Kirby Corp. - KEX - close: 35.22 change: -1.60 stop: 35.85

The market's decline was strong enough to push KEX under support at $36.00. Shares hit our stop loss at $35.85.

chart:

Entry on September 08 at $37.70 /triggered/gap higher entry
Change since picked:     - 1.85 <-- stopped @ 35.85 (-4.9%)
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:       310 thousand
Listed on September 05, 2009    


TEVA Pharmaceuticals - TEVA - close: 49.25 change: -1.31 stop: 49.75

The bearish trend of lower highs has finally come to fruition with a breakdown under support at $50.00. TEVA hit our stop at $49.75.

Our play is closed but keep an eye on TEVA. The stock should find additional support in the $48-47 zone.

chart:

Entry on    August 17 at $50.50 *triggered                
Change since picked:     - 0.75 <-- stopped @ 49.75 (-1.4%)
Earnings Date          11/03/09 (unconfirmed)    
Average Daily Volume:       5.3 million 
Listed on  August 05, 2009