The market's recent rebound has stalled near resistance for a lot of individual stocks.


BULLISH Play Updates

Southern Copper Corp. - PCU - close: 33.55 change: -0.40 stop: 30.95

PCU continues to struggle with the $34.00 level. The larger trend is up but short-term I'm concerned PCU will retreat and retest technical support near its rising 50-dma. I'd wait for that dip and preferably a bounce before launching new positions here. Keep one eye on the $32-31 zone and one eye on the U.S. dollar, which will influence commodity prices. Our target is $39.50.

Commodity-related stocks are bound to be volatile with the dollar moving so much. I'm suggesting small positions (25% to 50% your normal size).

Annotated chart:

Entry on  November 04 at $33.80
Change since picked:     - 0.25   			
Earnings Date          10/22/09 (confirmed)    
Average Daily Volume:       3.5 million 
Listed on  November 03, 2009    


UltraShort Russell - TWM - close: 29.98 change: -0.12 stop: 28.49

The small caps are bouncing although the Russell 2000 is struggling a little with the 580 region. If the bounce continues we can look for the Russell 2000 index to find resistance near the 50-dma and the 600 level. A move toward 600 would probably bring the TWM toward $28.00 and we would be stopped out. Thus more conservative traders may want to exit their TWM positions now.

I'm not suggesting new positions at this time. TWM has already hit our first target. We're currently aiming for $34.00.

Annotated chart:

Entry on   October 24 at $28.41 
Change since picked:     + 1.57
                            /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

Emerging Market iShares - EEM - close: 39.65 change: -0.05 stop: 40.25

This is it. The EEM has bounced back toward resistance near $40.00. If this ETF rolls over from here it will be a new entry point for bearish positions. Our plan called for very small positions (25% of normal size).

Our first target to take profits is at $33.55. Our second target is $31.00.

Annotated chart:

Entry on   October 31 at $38.13 /gap open entry
                   /originally listed at $37.57 (1/4 position size)
Change since picked:     + 1.52   			
Earnings Date          --/--/-- 
Average Daily Volume:        77 million 
Listed on   October 31, 2009    


Navistar Intl. - NAV - close: 34.55 change: -0.29 stop: 38.05

The trend is down but NAV is still trying to produce an oversold bounce. Volume has been fading fast on the bounce, which is not bullish. I would still consider bearish positions under $36.00. The $36.00 level is still holding as resistance. More conservative traders may want to use a stop closer to $36.25. Our first target is $30.50. Our second target is $27.75.

FYI: We initiated this play with half a position.

Annotated chart:

Entry on   October 24 at $35.41 (buy half a position)
Change since picked:     - 0.86   			
Earnings Date          12/30/09 (unconfirmed)    
Average Daily Volume:       1.5 million 
Listed on   October 24, 2009    


Ross Stores - ROST - close: 45.62 change: +0.08 stop: 46.55

Better than expected sales out of the retail sector on Thursday was not enough to push ROST over resistance at $46.00. At the same time the short-term trend of higher lows continue. This stick is coiling for a breakout that could go either way or you could argue that ROST is building a small bear-flag pattern. I'd bet the next move is down. More cautious traders may want to adjust their stops closer to the $46.00 level.

Our target to exit is $40.25. We will plan to close this play ahead of the earnings report.

Annotated chart:

Entry on   October 31 at $44.29 /gap open entry
                           /originally listed at $44.01
Change since picked:     + 1.33   			
Earnings Date          11/19/09 (confirmed)    
Average Daily Volume:       2.1 million 
Listed on   October 31, 2009    


Seagate Technology - STX - close: 15.31 change: -0.06 stop: 15.55

Wow! I'm shocked that we weren't stopped out on Thursday or Friday. Both days STX hit a high of $15.51. I'm going to let it ride but we're not suggesting new bearish positions at this time. We can reconsider new positions on a new close under $15.00. The plan was to use small positions (50%) to limit risk. Our first target is $12.05. Our second target is $10.50.

Annotated chart:

Entry on   October 31 at $13.95 (small positions 1/2)
Change since picked:     + 1.36   			
Earnings Date          10/21/09 (confirmed)    
Average Daily Volume:        13 million 
Listed on   October 31, 2009    


Toro Co. - TTC - close: 39.94 change: -0.09 stop: 38.25

TTC is testing resistance near $40.00 and struggling to close above this level. Our plan calls for a breakdown under support near $36.00 and a trigger to open positions at $35.75. I'm willing to keep TTC on the play list for another day or two just to see if this rebound rolls over.

If triggered at $35.75 our target is $30.50. I am suggesting small positions to limit risk.

Annotated chart:

Entry on  November xx at $xx.xx <-- TRIGGER @ 35.75
Change since picked:     + 0.00   			
Earnings Date          12/08/09 (unconfirmed)    
Average Daily Volume:       293 thousand
Listed on  November 31, 2009    


Financial SPDRs - XLF - close: 14.31 change: -0.06 stop: 15.51

Banks have been under performing the last few days. The trend from mid October is still down but the XLF is finding support near $14. If this ETF bounces look for resistance near the 50-dma. More conservative traders may want to lower their stops toward $15.00. I'm not suggesting new positions at this time. The XLF has potential support at its rising 100-dma and exponential 200-dma. Our target is $13.10.

Annotated chart:

Entry on   October 26 at $14.71 (small positions) 
Change since picked:     - 0.40   			
Earnings Date          --/--/-- 
Average Daily Volume:       102 million 
Listed on   October 26, 2009    


CLOSED BEARISH PLAYS

Western Digital Corp. - WDC - close: 36.44 change: +0.14 stop: 35.65

Our bearish play on WDC was stopped out on Thursday when techs rallied sharply thanks to CSCO's earnings news. WDC opened at $35.40 and quickly hit our stop loss at $35.65 closing our play.

I suggested traders start positions about 1/4 (25%) of their normal trade size.

chart:

Entry on   October 28 at $33.58 
Change since picked:     + 2.07 <-- stopped @ 35.65 (+6.1%)
Earnings Date          10/22/09 (confirmed)    
Average Daily Volume:       4.2 million 
Listed on   October 28, 2009