BULLISH Play Updates

Airgas Inc. - ARG - close: 47.60 change: +0.30 stop: 44.75

ARG's bounce was a bit of an under performer with a 0.6% gain versus the S&P 500's 1.4% gain. If shares can clear their 10-dma then maybe I'd be willing to jump in again. Otherwise wait for another test lower near $46.00.

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 $77 target.

Entry on September 25 at $47.25
Change since picked:     + 0.35   			
Earnings Date          10/29/09 (confirmed)    
Average Daily Volume:       1.5 million 
Listed on September 19, 2009    


BE Aerospace - BEAV - close: 18.88 change: +0.59 stop: 17.90

The almost always volatile BEAV didn't disappoint. Shares rallied with a 3.2% gain. This looks like a new bullish entry point to buy the stock. Our first target is $22.25.

Entry on September 12 at $19.19 
Change since picked:     - 0.31   			
Earnings Date          10/27/09 (unconfirmed)    
Average Daily Volume:       834 thousand
Listed on September 12, 2009    


Cullen Frost Bankers - CFR - close: 50.59 change: +0.21 stop: 48.90

Financial stocks rallied the most on Monday and yet CFR failed to participate. The trend in CFR is still bullish but I'm a little surprised by the relative weakness today. Our first target is $53.00.

Entry on September 26 at $50.42 
Change since picked:     + 0.17   			
Earnings Date          10/21/09 (unconfirmed)    
Average Daily Volume:       419 thousand
Listed on September 26, 2009    


Carpenter Tech. - CRS - close: 23.53 change: +1.26 stop: 21.45

Over the weekend I suggested buying the dip. If you missed it this morning I would still be tempted to do so now.

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:     + 2.08
                             /1st target hit @ 24.90 (+16.0%)
Earnings Date          10/28/09 (unconfirmed)    
Average Daily Volume:       536 thousand
Listed on September 05, 2009    


General Electric - GE - close: 15.83 change: +0.47 stop: 14.75

GE displayed relative strength with a 3% gain but the stock is nearing what could be short-term resistance near $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:     + 0.34
                            /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: 13.97 change: +0.69 stop: 12.99

A drop in the U.S. dollar fueled a nice rally for commodities. Gold futures bounced back toward their recent highs. GFI delivered a nice return with a 5.1% gain. I would now consider new bullish positions again.

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:     + 0.19   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:       7.7 million 
Listed on September 30, 2009    


Starwood Hotels - HOT - close: 30.98 change: +1.28 stop: 28.95

HOT delivered a nice bounce (+4.3%). This looks like a new bullish entry point but I could see waiting for a little more confirmation. Consider using a move over $31.30 as a potential entry. Remember to use very small position sizes.

Our first target is $34.75. Our second target is $37.50. FYI: HOT has above average short interest (more than 15% of the float).

Entry on   October 01 at $31.00
Change since picked:     - 0.02   			
Earnings Date          10/27/09 (unconfirmed)    
Average Daily Volume:       3.4 million 
Listed on September 19, 2009    


Microsoft - MSFT - close: 24.64 change: -0.32 stop: 23.70

Hmm... MSFT under performed the rest of the market. Shares lost 1.2%. If MSFT closes under Friday's low (24.43) it will be a breakdown of the three-month bullish trendline, which may be a signal to exit. Our target is $27.75.

Entry on      July 27 at $23.00
Change since picked:     + 1.64   			
Earnings Date          07/23/09 (confirmed)    
Average Daily Volume:        58 million 
Listed on  July 23, 2009    


NII Holdings - NIHD - close: 28.96 change: +0.53 stop: 24.90

There is no change from my prior comments. 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: 29.72 change: +0.94 stop: 25.49

The bounce in PDE is certainly encouraging but we don't want to chase it. Currently our trigger to buy PDE is at $27.00.

If triggered our first target is $30.75. 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 @ 27.00
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: 2.88 change: -0.04 stop: 2.69

Uh-oh! PLA showed relative weakness and closed under short-term technical support at the 30-dma. I'm not suggesting new positions at this time.

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:     + 0.23 
                            /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: 36.11 change: +1.72 stop: 28.95

Readers may want to consider small, aggressive positions on a breakout above resistance near $36.75. For the moment our plan is to buy 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: 41.29 change: +0.54 stop: 39.95

ROK is still bouncing from the $40 zone but shares remain under their 50-dma. Wait for a new bounce over $42.00 before considering new positions. Our first target is the $49.00 mark. Our time frame is several weeks.

Entry on September 10 at $43.71 /gap higher entry
                           /originally listed at $43.15
Change since picked:     - 2.42   			
Earnings Date          11/10/09 (unconfirmed)    
Average Daily Volume:       1.4 million 
Listed on September 10, 2009    


Market Vectors: Steel - SLX - close: 52.23 change: +1.93 stop: 47.49

Commodity stocks performed well and the SLX gained 3.8%. I suggested waiting for some follow through and we got it today!

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

Entry on   October 01 at $50.25 *triggered
Change since picked:     + 1.98   			
Earnings Date          00/00/00 
Average Daily Volume:       309 thousand
Listed on September 19, 2009    


Stryker Corp. - SYK - close: 44.54 change: +0.61 stop: 40.65

I was expecting SYK to dip toward $42.00 but shares found support at their 40-dma for the second day in a row. If SYK can break the two-week trendline of lower highs then we may want to adjust our entry point to buy strength instead of a pull back.

Currently our trigger is to buy SYK at $42.50. Keep an eye on the $45.00 level. If SYK closes over $45.00 we might adjust our entry point.

If triggered at $42.50 our first target is $46.00.

Entry on   October xx at $xx.xx <-- TRIGGER @ 42.50
Change since picked:     + 0.00   			
Earnings Date          10/20/09 (confirmed)    
Average Daily Volume:       3.2 million 
Listed on   October 03, 2009    


BEARISH Play Updates

Eli Lilly & Co - LLY - close: 32.47 change: -0.04 stop: 32.85

We may not have enough time for this trade to play out.

I'm suggesting a trigger to open bearish positions at $31.85. If triggered our first target is $30.05. We don't want to hold over LLY's earnings announcement in the latter half of October.

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    


U.S. Oil ETF - USO - close: 36.18 change: +0.31 stop: 37.25

A drop in the U.S. dollar fueled a rally in commodities and the USO gained 0.8%. This ETF is still under previous support and what should be new resistance at its long-term trendline it broke in September. Yet on a short-term basis today almost looks like a bullish breakout over the three-week pattern of lower highs. Readers may want to wait for a new drop under $35.50 or $35.00 before launching bearish positions. Our first target is $33.00 near the 200-dma. Our second target is $30.25.

Entry on   October 03 at $35.87 
Change since picked:     + 0.31   			
Earnings Date          00/00/00 
Average Daily Volume:      13.7 million 
Listed on   October 03, 2009