BULLISH Play Updates

Apartment Investment & Mgmt - AIV - cls: 15.39 chg: +0.24 stop: 13.49

The rally in AIV continues and shares look poised to test their September and 2009 highs near $16.00 soon. If you're looking for a new entry point readers may want to wait for another dip back toward the simple 10-dma. Our first target to take profits is at $16.50. Our second target is $18.50 but we may not have time. The plan is to exit ahead of the October 30th earnings report.

Annotated chart:

Entry on   October 07 at $14.72 /gap open higher
                            /originally listed at $14.52
Change since picked:     + 0.67   			
Earnings Date          10/30/09 (confirmed)    
Average Daily Volume:       3.6 million 
Listed on   October 07, 2009    


Airgas Inc. - ARG - close: 48.48 change: +0.22 stop: 45.85

ARG bounced from the $48.00 level again for the second time in as many days. Readers looking for a new entry point may want to wait for a dip toward the $47.50-47.00 zone.

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.

Annotated chart:

Entry on September 25 at $47.25
Change since picked:     + 1.23   			
Earnings Date          10/29/09 (confirmed)    
Average Daily Volume:       1.5 million 
Listed on September 19, 2009    


AZZ Inc. - AZZ - close: 40.28 change: +1.11 stop: 37.85

After under performing the market on Thursday AZZ reversed higher for us. The relative strength and the close over $40.00 is bullish. I'd use this move as a new entry point if you're not willing to wait for a dip near $38.00. Our first target is $44.00. Our second target is $47.50.

Annotated chart:

Entry on   October 07 at $40.08 /gap open higher
                             /originally listed at $39.73
Change since picked:     + 0.20   			
Earnings Date          01/07/09 (unconfirmed)    
Average Daily Volume:       120 thousand
Listed on   October 07, 2009    


BE Aerospace - BEAV - close: 20.99 change: +0.43 stop: 17.90

More conservative traders may want to take profits right now! BEAV has closed right at resistance near its 2009 highs near $21.00. This would be a good spot to expect a dip. I'm not suggesting new positions at this time. Our target is $22.25.

Annotated chart:

Entry on September 12 at $19.19 
Change since picked:     + 1.80   			
Earnings Date          10/27/09 (unconfirmed)    
Average Daily Volume:       834 thousand
Listed on September 12, 2009    


Check Point Software - CHKP - cls: 29.62 change: +0.35 stop: 27.35

Bulls bought the dip in CHKP at $28.96 on Friday morning. Shares then managed to rally back to a new 2009 high although volume was pretty light. I would prefer to open new positions on a dip near $28.50. Our first target is $32.50.

Annotated chart:

Entry on   October 06 at $29.19 
Change since picked:     + 0.43   			
Earnings Date          10/27/09 (unconfirmed)    
Average Daily Volume:       2.4 million 
Listed on   October 06, 2009    


Carpenter Tech. - CRS - close: 23.94 change: -0.56 stop: 21.90

CRS suffered some profit taking on Friday but traders bought the dip twice on Friday near $23.50. I'm expecting a bounce from here assuming the market doesn't reverse on us.

CRS has already hit our first target. Our secondary target is $27.40.

Annotated chart:

Entry on September 05 at $21.45 /gap higher entry
                             /originally listed at $20.92
Change since picked:     + 2.49
                             /1st target hit @ 24.90 (+16.0%)
Earnings Date          10/28/09 (unconfirmed)    
Average Daily Volume:       536 thousand
Listed on September 05, 2009    


DELL Inc. - DELL - close: 15.81 change: -0.01 stop: 14.75

The action in DELL on Friday looks like a short-term top/reversal pattern. I would expect a dip back toward the $15.50-15.00 zone. Wait for the dip before considering new bullish positions.

Our first target to take profits is at $16.95. Our second target is $19.75. DELL doesn't move super fast so this play could take several weeks. We'll plan to exit ahead of the mid November earnings report.

Annotated chart:

Entry on   October 06 at $15.51 
Change since picked:     + 0.30   			
Earnings Date          11/19/09 (unconfirmed)    
Average Daily Volume:      25.6 million 
Listed on   October 06, 2009    


F5 Networks - FFIV - close: 41.29 change: +0.63 stop: 37.75

FFIV displayed relative strength and closed a new 18-month highs on Friday. I would look for a dip back toward $40.00 as a new entry point. Our first target to take profits is at $44.50. I'd like to aim higher but we may not have time. Earnings are in a couple of weeks.

Annotated chart:

Entry on   October 07 at $40.63 
Change since picked:     + 0.66   			
Earnings Date          10/21/09 (unconfirmed)    
Average Daily Volume:       1.2 million 
Listed on   October 07, 2009    


General Electric - GE - close: 16.18 change: -0.04 stop: 14.75

GE looks like it's losing moment. I'd expect a dip back toward the $15.50 zone before the stock moves much higher. I'm not suggesting new positions at this time. Please note that we will plan to exit on Thursday, October 15th at the closing bell to avoid holding over earnings on Friday morning.

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.

Annotated chart:

Entry on September 14 at $15.49 /gap higher entry
                             /originally listed at $15.35
Change since picked:     + 0.69
                            /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: 14.64 change: -0.35 stop: 12.99

A bounce in the dollar sparked some profit taking in gold and the gold miners reacted with a move lower. Watch for $14.00 to act as short-term support.

Our first target is $15.75. I'm adding a second target at $19.75. The Point & Figure chart is very bullish with a $21 target.

Annotated chart:

Entry on September 30 at $13.78 
Change since picked:     + 0.86   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:       7.7 million 
Listed on September 30, 2009    


Starwood Hotels - HOT - close: 33.26 change: -0.15 stop: 29.49 *new*

HOT succumbed to a little profit taking on Friday. The overall trend is still bullish. If you're looking for a new entry point I'd watch for a bounce in the $31.00-32.00 zone. I'm upping our stop loss to $29.49. Our plan was to use small position sizes to limit our risk.

Our first target is $34.75. I am adjusting our second target to $39.00. FYI: HOT has above average short interest (more than 15% of the float).

Annotated chart:

Entry on   October 01 at $31.00
Change since picked:     + 2.26   			
Earnings Date          10/27/09 (unconfirmed)    
Average Daily Volume:       3.4 million 
Listed on September 19, 2009    


Microsoft - MSFT - close: 25.55 change: -0.12 stop: 24.40 *new*

If MSFT doesn't clear resistance near $26.00 soon we may want to consider an early exit. MSFT reports earnings on October 23rd, which gives about two weeks left for this play. I am raising our stop loss to $24.40. Our target is $27.75.

Annotated chart:

Entry on      July 27 at $23.00
Change since picked:     + 2.55   			
Earnings Date          10/23/09 (confirmed)    
Average Daily Volume:        58 million 
Listed on  July 23, 2009    


NII Holdings - NIHD - close: 30.38 change: +0.00 stop: 27.60

NIHD slipped toward its 10-dma on Friday afternoon before bouncing back to unchanged ahead of the closing bell. I would still consider new bullish positions at this time. More conservative traders may want to raise their stops. The plan was to use small position sizes (1/2 to 1/4 normal size) to limit risk. Our first target is $33.75. FYI: The P&F chart is very bullish with a $57 target.

Annotated chart:

Entry on   October 08 at $30.60
Change since picked:     - 0.22   			
Earnings Date          10/22/09 (unconfirmed)    
Average Daily Volume:       3.4 million 
Listed on September 23, 2009    


Petrobras - PBR - close: 47.96 change: +0.52 stop: 43.70

PBR continues to edge higher after breaking out past resistance on Thursday. The $50.00 level is likely round-number, psychological resistance so don't be surprised to see PBR pull back on its initial test of the $50 mark.

Our first target is $52.50. Our second target is $59.00. The P&F chart is bullish with a $63 target.

Annotated chart:

Entry on   October 08 at $46.80
Change since picked:     + 1.16   			
Earnings Date          11/13/09 (unconfirmed)    
Average Daily Volume:      12.8 million 
Listed on   October 07, 2009    


Patriot Coal - PCX - close: 13.07 change: +0.25 stop: 9.95

PCX continues to out perform and garnered even more positive comments from the brokers on Friday morning. Shares are starting to look a little overbought from their lows near $10.00.

I'm using a wide stop loss given PCX's recent volatility. We'll take profits at $13.90. We'll cautiously set a secondary target at $16.75 but the plan is to exit ahead of the late October earnings report.

Annotated chart:

Entry on   October 05 at $12.14 /gap open higher
                            /originally listed at $11.78
Change since picked:     + 0.93   			
Earnings Date          10/28/09 (unconfirmed)    
Average Daily Volume:       6.4 million 
Listed on   October 05, 2009    


Pride Intl. Inc. - PDE - close: 31.51 change: -0.45 stop: 28.25

As expected PDE pulled back after testing $32.00. Look for a dip near $31.00 or $30.00 as our next entry point.

Our first target is $34.75. We'll plan to exit ahead of the late October earnings report.

Annotated chart:

Entry on   October 08 at $31.15
Change since picked:     + 0.36   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:       3.7 million 
Listed on September 12, 2009    


Playboy Ent. - PLA - close: 3.17 change: +0.23 stop: 2.78 *new*

PLA out performed the market on Friday with a 7.8% rally. Volume came in at 284K shares. I couldn't find anything specific to account for the rally but there has been some discussion that Hugh Hefner may be open to selling the company. Is this rally buyout speculation? The stock has broken the three-week trend of lower highs and looks poised to test resistance near $3.40 soon.

I would be tempted to buy a dip near $3.10-3.05 with a stop near $2.80. We're actually raising our stop loss to $2.78 for the newsletter.

Our second target remains the $3.95 level. FYI: The Point & Figure chart is bullish with a long-term $7.50 target.

Annotated chart:

Entry on September 01 at $ 2.65
Change since picked:     + 0.52 
                            /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: 39.53 change: +0.47 stop: 33.40

PXD continues to rally - without us. The stock has soared after reversing near $34.00 a few days ago. I'm unwilling to chase it here. The $40 level could be round-number resistance.

We'll keep the trigger at $36.50 for now. If triggered our first target is $39.95. Our second target is $43.50. The Point & Figure chart is bullish with a $50 target.

Annotated chart:

Entry on September xx at $xx.xx <-- TRIGGER @ 36.50
Change since picked:     + 0.00   			
Earnings Date          11/04/09 (unconfirmed)    
Average Daily Volume:       2.1 million 
Listed on September 26, 2009    


Market Vectors: Steel - SLX - close: 55.00 change: +0.22 stop: 49.95

SLX edged even closer to resistance in the $55.00-55.50 zone. This ETF looks a little short-term overbought and due for a dip. I'm not suggesting new positions at this time. SLX has already hit our first target at $54.75. Our second target is $59.50. Our time frame is several weeks.

Annotated chart:

Entry on   October 01 at $50.25 *triggered
Change since picked:     + 4.75   			
                            /1st target hit @ 54.75 (+8.9%)
Earnings Date          00/00/00 
Average Daily Volume:       309 thousand
Listed on September 19, 2009    


Stryker Corp. - SYK - close: 45.52 change: +0.90 stop: 42.49

SYK is finally showing some strength. The stock rallied 2% on Friday and broke from the little consolidation it was stuck in. I hesitate to launch new positions but I'm more inclined to keep it now. More conservative traders may want to raise their stops a bit.

Our first target is $47.75.

Annotated chart:

Entry on   October 06 at $44.54 *new entry 
Change since picked:     + 0.98   			
Earnings Date          10/20/09 (confirmed)    
Average Daily Volume:       3.2 million 
Listed on   October 03, 2009    


Tractor Supply Co. - TSCO - close: 53.33 change: +0.32 stop: 47.40

TSCO managed to post another gain but shares are overbought and due for a pull back. I would expect TSCO to fill the gap, which means a dip back toward $51.00.

Our first target to take profits is at $54.75. Our second target is $57.45. FYI: The Point & Figure chart is very bullish with a $72 target.

Annotated chart:

Entry on   October 06 at $50.56 
Change since picked:     + 2.77   			
Earnings Date          10/21/09 (unconfirmed)    
Average Daily Volume:       384 thousand
Listed on   October 06, 2009    


VisionChina Media - VISN - close: 8.52 change: -0.50 stop: 7.45

We knew that VISN was volatile, which was why we suggested very small positions and a wide stop loss. The stock spiked to $9.43 Friday but eventually reversed and erased Thursday's gain. Look for short-term "support" near $8.15-8.00.

Our first target is $10.90. Our second target is $13.75. The Point & Figure chart is bullish with a $15.00 target. My time frame is several weeks (maybe year end).

Annotated chart:

Entry on   October 07 at $ 8.53 
Change since picked:     - 0.01   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:       407 thousand
Listed on   October 07, 2009    


BEARISH Play Updates

*We currently do not have any bearish play updates*


CLOSED BULLISH PLAYS

Rockwell Automation - ROK - close: 41.33 change: -0.48 stop: 39.95

I am giving up on ROK. We're cutting it loose and cutting our losses.

chart:

Entry on September 10 at $43.71 /gap higher entry
                           /originally listed at $43.15
Change since picked:     - 2.38  <-- exit early (-5.4%)
Earnings Date          11/10/09 (unconfirmed)    
Average Daily Volume:       1.4 million 
Listed on September 10, 2009