Today's market decline swept through the stop losses for most of our remaining bullish positions. We did have two trades hit our target today.


BULLISH Play Updates

UltraShort Russell - TWM - close: 31.64 change: +1.97 stop: 26.30

Target achieved. The market's sell-off pushed the Russell 2000 index to a 3.5% decline. The TWM rallied 6.6% in response. The high today was $31.92. Our first target to take profits was at $31.90. I am raising our stop loss to $28.49. Our second target is $34.50.

This is the ultra-short (double short) ETF on the Russell 2000 index that seeks to deliver twice the inverse of the daily performance of the Russell 2000.

chart:

Entry on   October 24 at $28.41 
Change since picked:     + 3.23
                            /1st target hit @ 31.90 (+12.2%)
Earnings Date          00/00/00 
Average Daily Volume:       4.2 million 
Listed on   October 24, 2009    


BEARISH Play Updates

Navistar Intl. - NAV - close: 32.96 change: -1.82 stop: 40.25

NAV sank to $31.71 before paring its losses. The trend is down but shares look short-term oversold. I wouldn't be surprised to see a bounce toward $35-36. Our first target is $30.50. Our second target is $27.75.

FYI: We initiated this play with half a position.

Entry on   October 24 at $35.41 (buy half a position)
Change since picked:     - 2.45   			
Earnings Date          12/30/09 (unconfirmed)    
Average Daily Volume:       1.5 million 
Listed on   October 24, 2009    


NASDAQ OMX Group - NDAQ - close: 18.25 chg: -0.36 stop: 20.65

NDAQ actually gapped open higher but quickly reversed. The stock lost 1.9% on the session. Our target to take profits is at $17.85. We'll plan to exit ahead of the November 5th earnings report.

Entry on   October 26 at $19.45
Change since picked:     - 1.20   			
Earnings Date          11/05/09 (confirmed)    
Average Daily Volume:       2.8 million 
Listed on   October 24, 2009    


Netlogic Micro. - NETL - close: 38.16 change: -1.37 stop: 42.65

Semiconductor stocks have been leading the NASDAQ lower. NETL lost another 3.4% today. If you didn't open positions this morning readers may want to wait for a little oversold bounce instead of chasing it here. The SOX semiconductor index has fallen toward support and looks due for an oversold bounce as well.

This is going to be a very short-term play. NETL reports earnings on November 3rd. We'll plan to exit ahead of the report. Our first target is $35.25.

Entry on   October 27 at $39.53 
Change since picked:     - 1.37   			
Earnings Date          11/03/09 (confirmed)    <-- amc -->
Average Daily Volume:       392 thousand
Listed on   October 27, 2009    


SL Green Realty - SLG - close: 37.96 change: -1.63 stop: 43.65

SLG confirmed yesterday's bearish breakdown with a 4.1% drop today. If you don't want to chase it here look for a bounce or failed rally near $40.00. Our first target is $35.25. Our second target is $33.00.

This stock can be somewhat volatile. I'm suggesting small position sizes.

Entry on   October 27 at $39.59 
Change since picked:     - 1.63   			
Earnings Date          10/26/09 (confirmed)    
Average Daily Volume:       2.1 million 
Listed on   October 27, 2009    


Steel Dynamics - STLD - close: 13.64 change: -0.71 stop: 16.21

The steel and metal stocks have been getting hammered lower. Earnings in the sector hasn't been that great and we've heard some less than bullish comments out of management from various firms. STLD lost 4.9% today and settled on technical support at its 200-dma. If there was going to be a bounce soon it would be here. Our target to take profits is at $12.60.

Entry on   October 24 at $15.03 
Change since picked:     - 1.39   			
Earnings Date          10/19/09 (confirmed)    
Average Daily Volume:       8.0 million 
Listed on   October 24, 2009    


Financial SPDRs - XLF - close: 14.14 change: -0.45 stop: 15.51

The XLF lost just over 3% today. The sector is looking a little oversold. I wouldn't be surprised to see a bounce soon. Our target is $13.10 but that might be a little optimistic. The rising 100-dma and the exponential 200-dma will probably offer some support. A very similar play would be bearish positions on the IYF financial ishares.

Entry on   October 26 at $14.71 (small positions) 
Change since picked:     - 0.56   			
Earnings Date          --/--/-- 
Average Daily Volume:       102 million 
Listed on   October 26, 2009    


CLOSED BULLISH PLAYS

HMS Holdings - HMSY - close: 40.35 change: -0.65 stop: 40.40

Last night we raised our stop loss on HMSY to $40.40. Today's market weakness was enough to push HMSY right through our new stop.

chart:

Entry on   October 17 at $41.55 /gap open higher 
                           /originally listed at $41.30
Change since picked:     - 1.15 <-- stopped @ 40.40 (-2.7%)
Earnings Date          10/30/09 (confirmed)    
Average Daily Volume:       227 thousand
Listed on   October 17, 2009    


Jacobs Engineering - JEC - close: 43.10 change: -2.79 stop: 44.75

The relative strength in JEC has vanished. Someone replaced it with relative weakness. The stock plunged 6% and broke down through several different layers of support. JEC hit our stop at $44.75 this morning and closed the play.

chart:

Entry on   October 15 at $45.88 
Change since picked:     - 1.13 <-- stopped @ 44.75 (-2.4%)
Earnings Date          11/17/09 (unconfirmed)    
Average Daily Volume:       1.2 million 
Listed on   October 15, 2009    


Petrobras - PBR - close: 45.43 change: -2.82 stop: 45.95

The profit taking in PBR was a little bit stronger than expected. Shares fell to their 50-dma and hit $45.33 this afternoon. Our stop loss was tagged at $45.95 closing the play.

chart:

Entry on   October 08 at $46.80
Change since picked:     - 0.85 <-- stopped @ 45.95 (-1.8%)
Earnings Date          11/13/09 (unconfirmed)    
Average Daily Volume:      12.8 million 
Listed on   October 07, 2009    


Pride Intl. Inc. - PDE - close: 30.42 change: -1.54 stop: 31.49

Our plan was to exit tonight at the closing bell to avoid earnings but that exit was cut short. PDE hit our stop loss at $31.49 closing our play early.

chart:

Entry on   October 08 at $31.15
Change since picked:     + 0.66 <-- stopped @ 31.49 (+2.1%)
                         /sell half @ 32.95 (+5.7%)
Earnings Date          10/29/09 (confirmed)    
Average Daily Volume:       3.7 million 
Listed on September 12, 2009    


VisionChina Media - VISN - close: 8.65 change: -0.34 stop: 8.65

The Chinese stock markets were mixed. The Shanghai recovered from its lows to close positive but the Hong Kong Hang Seng plunged for a second day in a row. Shares of VISN has fallen sharply three days in a row and hit our stop loss at $8.65 closing our play.

chart:

Entry on   October 07 at $ 8.53 
Change since picked:     + 0.12 <-- stopped @ 8.65 (+1.4%)
                          /take profits 10/24/09 (+20.3%)
Earnings Date          10/29/09 (unconfirmed)    
Average Daily Volume:       407 thousand
Listed on   October 07, 2009    


CLOSED BEARISH PLAYS

Exide Tech - XIDE - close: 6.09 change: -0.52 stop: 8.05

Target achieved. XIDE broke support near $6.50 and immediately fell toward the next level of support at $6.00. The low today was $6.04. Our target to exit and take profits was at $6.10.

chart:

Entry on   October 21 at $ 7.21 
Change since picked:     - 1.11 <-- target hit @ 6.10 (-15.3%)
Earnings Date          11/05/09 (unconfirmed)    
Average Daily Volume:       545 thousand
Listed on   October 21, 2009