We had several plays that were set to expire tonight at the closing bell.


BULLISH Play Updates

Apartment Investment & Mgmt - AIV - cls: 14.63 chg: -0.19 stop: 13.95

This is it. AIV is testing its trendline of support near the 30-dma. More conservative traders might want to consider inching up their stop loss. Wait for a bounce before considering new positions.

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.

Entry on   October 07 at $14.72 /gap open higher
                            /originally listed at $14.52
Change since picked:     - 0.09   			
Earnings Date          10/30/09 (confirmed)    
Average Daily Volume:       3.6 million 
Listed on   October 07, 2009    


Airgas Inc. - ARG - close: 49.45 change: -0.82 stop: 46.90

Profit taking in ARG shaved off 1.6%. The stock should find some support near $49.00 and again near its 50-dma (about 47.30).

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:     + 2.20  			
Earnings Date          10/29/09 (confirmed)    
Average Daily Volume:       1.5 million 
Listed on September 19, 2009    


BE Aerospace - BEAV - close: 20.04 change: -0.36 stop: 19.25

BEAV is breaking down from its recent trading range but the stock should still find support near the rising 50-dma. I don't see any changes from my prior comments. More conservative traders may want to exit early anyway. I'm not suggesting new positions at this time.

Our first target is $22.25 and I'd exit about 75% of our position there. We'll put a second target at $24.00. Keep in mind that we'll exit ahead of the October 27th earnings report.

Entry on September 12 at $19.19 
Change since picked:     + 0.85   			
Earnings Date          10/27/09 (confirmed)    
Average Daily Volume:       834 thousand
Listed on September 12, 2009    


Sotheby's - BID - close: 17.70 change: -0.22 stop: 16.80

Shares of BID continue to correct but they've not yet tested what should be support near $17.50 and again near $17.00. Wait for a bounce before considering new positions.

I would use small positions (about 1/2 to 1/4 your normal trade size) to limit risk. Our first target is $19.95 since the $20.00 mark could be round-number resistance. Our second target is $22.00. Currently the Point & Figure chart is bullish with a $30 target. We do not want to hold over the early November earnings report.

Entry on   October 13 at $18.21 
Change since picked:     - 0.51   			
Earnings Date          11/05/09 (unconfirmed)    
Average Daily Volume:       861 thousand
Listed on   October 13, 2009    


Cracker Barrel - CBRL - close: 34.55 chg: -1.41 stop: 34.40

CBRL really under performed on Wednesday. The stock broke down under the $35.00 level, which should have been stronger support. Shares dipped to $34.41 this afternoon. Odds are pretty good we'll get stopped out tomorrow. The risk now is CBRL gapping open lower. If CBRL surprises us and rallies I'd wait for a new close over $35.00 before considering new bullish positions. Our first target is $39.75. The Point & Figure chart is forecasting a $57 target.

Entry on   October 10 at $36.00 
Change since picked:     - 1.45   			
Earnings Date          11/24/09 (unconfirmed)    
Average Daily Volume:       322 thousand
Listed on   October 10, 2009    


Compania Cervecerias - CCU - close: 36.00 change: +0.12 stop: 34.90

CCU is still consolidating sideways and managed to show a little strength today. Given the market's poor performance this afternoon I would not open new positions at this time. This is going to be a short-term trade as earnings are coming up in a week or two. Our first target is $39.90. The P&F chart is very bullish with a quadruple top bullish breakout buy signal and a $48 target.

Entry on   October 17 at $36.39 
Change since picked:     - 0.39   			
Earnings Date          10/26/09 (unconfirmed)    
Average Daily Volume:        56 thousand
Listed on   October 17, 2009    


Capstone Turbine - CPST - close: 1.38 change: -0.09 stop: 1.24

Uh-oh! CPST has reversed on us after breaking out on Tuesday. The larger trend is still up but readers may want to inch up their stop loss. Our first target is $1.75. We don't want to hold over the November earnings report. FYI: The Point & Figure chart is bullish with a $2.75 target.

Entry on   October 10 at $ 1.40 
Change since picked:     - 0.02   			
Earnings Date          11/09/09 (unconfirmed)    
Average Daily Volume:       3.7 million 
Listed on   October 10, 2009    


Diana Shipping - DSX - close: 14.99 change: +0.00 stop: 13.90

DSX hit our trigger at $15.25 when the stock surged to $15.50 today. Unfortunately DSX gave back all of its gains to close unchanged on the session. The move looks like a short-term bearish reversal and has the potential to be a bull trap. Readers may want to raise their stop loss toward the $14.50 zone. I'm not suggesting new positions at this moment until we see a bounce. Keep an eye open for a bounce near $14.50.

This is a volatile stock so we want to keep our positions small. We'll use a wide stop loss at $13.90. Our exit target is $18.75.

chart:

Entry on   October 21 at $15.25
Change since picked:     - 0.26   			
Earnings Date          11/10/09 (unconfirmed)    
Average Daily Volume:       1.9 million 
Listed on   October 20, 2009    


Gold Fields Ltd - GFI - close: 14.15 change: -0.03 stop: 12.99

A sharp decline in the dollar fueled new gains for gold. Yet the gold miners were unable to maintain their gains thanks to the market's afternoon decline. The action today is short-term bearish. I'm not suggesting new positions at this time. Look for a bounce from its rising 50-dma.

Our first target is $15.75. Our second target is $19.75 but that may be a little optimistic given our time frame. We plan to exit ahead of the late October earnings report. The Point & Figure chart is very bullish with a $21 target.

Entry on September 30 at $13.78 
Change since picked:     + 0.37   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:       7.7 million 
Listed on September 30, 2009    


HMS Holdings - HMSY - close: 41.20 change: -0.87 stop: 38.80

It's not surprising to see HMSY contract after testing resistance. Look for support near $40.00 and a bounce near this level as a new entry point. Our target is $44.90. We'll plan to exit ahead of the October 30th earnings report.

Entry on   October 17 at $41.55 /gap open higher 
                           /originally listed at $41.30
Change since picked:     - 0.35   			
Earnings Date          10/30/09 (confirmed)    
Average Daily Volume:       227 thousand
Listed on   October 17, 2009    


Jacobs Engineering - JEC - close: 45.79 change: +0.36 stop: 43.40

JEC did show some relative strength today but I'm concerned about the huge amount of volume on the late-day sell-off. Readers may want to raise their stop losses. I'm not suggesting new positions at this time. Our first target is $49.50. Our second target is $53.00 but we'll plan to exit ahead of the mid November earnings report.

Entry on   October 15 at $45.88 
Change since picked:     - 0.09   			
Earnings Date          11/17/09 (unconfirmed)    
Average Daily Volume:       1.2 million 
Listed on   October 15, 2009    


Microsoft - MSFT - close: 26.58 change: +0.21 stop: 25.49

Right now the plan is to exit tomorrow (Thursday) at the closing bell to avoid MSFT's earnings on Friday. More conservative traders may want to exit early tomorrow morning. Currently our exit target is $27.75.

Entry on      July 27 at $23.00
Change since picked:     + 3.58   			
Earnings Date          10/23/09 (confirmed)    
Average Daily Volume:        58 million 
Listed on  July 23, 2009    


Petrobras - PBR - close: 50.21 change: +0.57 stop: 45.95

Crude oil surged to new highs over $81 but oil stocks struggled with the afternoon market decline. More conservative traders may want to take some money off the table now. I'm not suggesting new positions at this time.

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

Entry on   October 08 at $46.80
Change since picked:     + 3.41  			
Earnings Date          11/13/09 (unconfirmed)    
Average Daily Volume:      12.8 million 
Listed on   October 07, 2009    


Patriot Coal - PCX - close: 12.83 change: -0.05 stop: 10.90

PCX tried to bounce but rolled over under the $13.50 level. I'm still expecting a drop toward $11.00. If you don't want to endure that sort of volatility then exit now and consider re-entering on a bounce near $11.00. I'm not suggesting new positions at this time.

PCX has already hit our first target at $13.90. We're currently aiming for $16.75 but we'll exit ahead of the October 27th earnings report.

Entry on   October 05 at $12.14 /gap open higher
                            /originally listed at $11.78
Change since picked:     + 0.69   	
                          /1st target hit @ 13.90 (+14.5%)
Earnings Date          10/27/09 (confirmed)    
Average Daily Volume:       6.4 million 
Listed on   October 05, 2009    


Pride Intl. Inc. - PDE - close: 33.33 change: +0.22 stop: 29.95

PDE almost hit our target today. Shares rallied to $34.67. Our target to exit is $34.75. The sharp pull back looks like a failed rally pattern and more conservative traders may want to take profits right here anyway. I am not suggesting new positions at this time. We'll plan to exit ahead of the late October earnings report.

Entry on   October 08 at $31.15
Change since picked:     + 2.18   			
Earnings Date          10/29/09 (confirmed)    
Average Daily Volume:       3.7 million 
Listed on September 12, 2009    


Playboy Ent. - PLA - close: 3.66 change: +0.01 stop: 3.35 *new*

PLA rallied to new highs for the year at $3.82. The late-day market sell-off is worrisome and readers may want to go ahead and exit PLA early right here! I am raising our stop loss to $3.35. I am not suggesting new positions at this time.

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

Entry on September 01 at $ 2.65
Change since picked:     + 1.01 
                            /take profits 09/16/09 (+17.7%)
Earnings Date          11/05/09 (unconfirmed)    
Average Daily Volume:       370 thousand
Listed on  August 29, 2009    


VisionChina Media - VISN - close: 10.01 change: -0.17 stop: 7.85

The market is acting weak here. Readers may want to start taking profits early in VISN. I'm not suggesting new positions at this time. This is a very aggressive trade and we want to keep our positions small.

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).

Entry on   October 07 at $ 8.53 
Change since picked:     + 1.58   			
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:       407 thousand
Listed on   October 07, 2009    


BEARISH Play Updates

Avis Budget Group - CAR - close: 10.94 change: -0.22 stop: 12.60

CAR produced a failed rally near its 50-dma today. The path of least resistance appears to be lower. Our target is $9.25. We'll have to keep an eye on the rising 100-dma as potential support. FYI: The P&F chart is forecasting an $8.50 target.

NOTE: CAR has a high amount of short interest, about 9% of the 101 million-share float. That raises the risk of a short squeeze. Readers may want to consider using put options to limit risk. A stop loss doesn't always work.

Entry on   October 20 at $11.25
Change since picked:     - 0.31   			
Earnings Date          11/02/09 (confirmed)    
Average Daily Volume:       3.8 million 
Listed on   October 17, 2009    


CLOSED BULLISH PLAYS

Check Point Software - CHKP - cls: 30.10 change: -0.05 stop: 28.90

CHKP spiked to $30.75 before giving back all of its gains. Our plan was to exit tonight at the closing bell to avoid holding over earnings.

chart:

Entry on   October 06 at $29.19 
Change since picked:     + 0.91 <-- exit @ 30.10 (+3.1%)
Earnings Date          10/22/09 (confirmed)    
Average Daily Volume:       2.4 million 
Listed on   October 06, 2009    


Carpenter Tech. - CRS - close: 22.88 change: -0.68 stop: 22.45

I think it's time we abandon ship with CRS. The stock lost 2.8% and closed under its 40-dma. Volume was above average on the decline.

chart:

Entry on September 05 at $21.45 /gap higher entry
                             /originally listed at $20.92
Change since picked:     + 1.43 <-- early exit @ 22.88 (+6.6%)
                             /1st target hit @ 24.90 (+16.0%)
Earnings Date          10/27/09 (confirmed)    
Average Daily Volume:       536 thousand
Listed on September 05, 2009    


F5 Networks - FFIV - close: 41.53 change: -0.60 stop: 40.75

It was our plan to exit tonight at the closing bell to avoid holding over earnings.

chart:

Entry on   October 07 at $40.63 
Change since picked:     + 0.90 <-exit @ 41.53 (+2.2%)
Earnings Date          10/21/09 (confirmed)    
Average Daily Volume:       1.2 million 
Listed on   October 07, 2009    


Starwood Hotels - HOT - close: 34.20 change: -0.64 stop: 32.90

The plan was to exit at the closing bell to avoid holding over earnings tomorrow.

chart:

Entry on   October 01 at $31.00
Change since picked:     + 3.20  <- exit @ 34.20 (+10.3%)
                             /1st target hit @ 34.75 (+12%)
Earnings Date          10/22/09 (confirmed)    
Average Daily Volume:       3.4 million 
Listed on September 19, 2009    


NII Holdings - NIHD - close: 32.43 change: +0.40 stop: 30.60

NIHD is yet another play where we planned to exit tonight at the closing bell to avoid earnings. However, unlike the rest of the market NIHD managed to maintain some of its gains today. The plan was to use small position sizes (1/2 to 1/4 normal size) to limit risk.

chart:

Entry on   October 08 at $30.60
Change since picked:     + 1.83<-- exit at $32.43 (+5.9%)
Earnings Date          10/22/09 confirmed    
Average Daily Volume:       3.4 million 
Listed on September 23, 2009    


Tractor Supply Co. - TSCO - close: 50.96 change: -1.71 stop: 51.49

The plan was to exit tonight at the closing bell to avoid holding over earnings. Unfortunately TSCO under performed the market with a 3.2% decline and hit our stop loss at $51.49 ending our play early.

chart:

Entry on   October 06 at $50.56 
Change since picked:     + 0.93<-- stopped @ 51.49 (+1.8%)
Earnings Date          10/21/09 (confirmed)    
Average Daily Volume:       384 thousand
Listed on   October 06, 2009