BULLISH Play Updates

Best Buy Inc. - BBY - close: 42.25 change: +0.01 stop: 39.40

It turned out to be a quiet session for BBY. Investors have been hoping for encouraging news out of the retailers and Macy's (M) bearish fourth quarter guidance could have been a stumbling block for traders today. Of course BBY and Macy's are extremely different from one another and shares of BBY closed unchanged on the session. The RLX retail index lost 0.3% while Macy's fell 8%.

I remain bullish on BBY and would still consider new positions at current levels (or on a dip near $40.00. Our first target is $46.00. Our second target is $49.80. Our time frame is several weeks.

Entry on  November 10 at $42.20
Change since picked:     + 0.05   			
Earnings Date          12/15/09 (unconfirmed)    
Average Daily Volume:       5.1 million 
Listed on  November 09, 2009    


Baker Hughes Inc. - BHI - close: 43.22 change: +0.72 stop: 40.49

BHI posted a 1.69% gain, which was better than the major averages. I'd still consider new bullish positions here but more cautious traders might want to wait for a close over $44.00, which could be short-term resistance. Our first target is $47.00. Our second target is $49.85.

Entry on  November 09 at $43.06 
Change since picked:     + 0.16   			
Earnings Date          01/28/10 (unconfirmed)    
Average Daily Volume:       5.6 million 
Listed on  November 09, 2009    


Southern Copper Corp. - PCU - close: 35.02 change: +0.28 stop: 30.95

PCU managed to extend its gains with another 0.8% rise. The close over $35.00 is bullish but shares actually look a little bit overbought here with the rally off its early November low. More conservative traders may want to raise their stops. Our target is $39.50.

I suggested small positions (25% to 50% your normal size).

Entry on  November 04 at $33.80
Change since picked:     + 1.22   			
Earnings Date          10/22/09 (confirmed)    
Average Daily Volume:       3.5 million 
Listed on  November 03, 2009    


Polaris Industries - PII - close: 46.47 change: +0.35 stop: 41.80

PII delivered a 0.7% gain. I don't see any changes from my previous comments. If you're looking for a new entry point I'd wait for a dip near the $45.00-44.75 zone.

Our target to exit is $49.65. I consider this an aggressive play and suggest smaller position sizes.

Entry on  November 09 at $45.15
Change since picked:     + 1.32   			
Earnings Date          01/28/10 (unconfirmed)    
Average Daily Volume:       516 thousand
Listed on  November 07, 2009    


Travelers Companies - TRV - close: 54.31 change: +0.38 stop: 49.75

There is no change from my prior comments on TRV. Shares of TRV are still running away from us. We don't want to chase it. I'm suggesting readers use a trigger to buy the dip at $52.15. If triggered our target is $57.40.

Entry on  November xx at $xx.xx <-- TRIGGER @ 52.15
Change since picked:     + 0.00   			
Earnings Date          01/27/10 (unconfirmed)    
Average Daily Volume:       5.3 million 
Listed on  November 07, 2009    


Wyndham Worldwide - WYN - close: 19.25 change: +0.59 stop: 16.40

WYN is off to a strong start. Shares gapped open higher at $18.88 and closed with a 3.1% gain. The $20.00 level could offer some round-number resistance but I'm setting our first target at $21.00. FYI: The point & figure chart is bullish with a $27 target. Our time frame is several weeks.

I'm suggesting small positions (at least 50% of your normal trade size).

Entry on  November 10 at $18.88 (1/2 position) /gap open higher
Change since picked:     + 0.37   			
Earnings Date          02/11/10 (unconfirmed)    
Average Daily Volume:       3.5 million 
Listed on  November 10, 2009    


Yanzhou Coal Mining - YZC - close: 18.04 change: +0.18 stop: 14.95

YZC managed to hit another new high at $18.37 this morning.

There is no change from my prior comments. We don't want to chase the rally in YZC. I'll keep our trigger to buy a dip at $16.35 for now but we'll probably end up adjusting it higher. Our target is $19.95. Our time frame is several weeks.

Entry on  November xx at $xx.xx <-- TRIGGER @ 16.35
Change since picked:     + 0.00   			
Earnings Date          04/10/10 (unconfirmed)    
Average Daily Volume:       418 thousand
Listed on  November 07, 2009    


BEARISH Play Updates

Activision-Blizzard - ATVI - close: 11.38 change: -0.04 stop: 11.85

According to some of my younger male friends the new Call of Duty, Modern Warfare 2 game that just came out is awesome. Yet strong sales of ATVI's new game isn't stopping the profit taking. ATVI hit our trigger to open bearish positions at $11.20 this morning. Our first target is $10.10. Our second target is $9.25. Our time frame is several weeks.

chart:

Entry on  November 11 at $11.20
Change since picked:     + 0.18   			
Earnings Date          02/04/10 (unconfirmed)    
Average Daily Volume:      17.3 million 
Listed on  November 10, 2009    


Navistar Intl. - NAV - close: 35.40 change: -0.25 stop: 36.55

I'm actually surprised that NAV did not hit our stop loss today. The market was showing strength this morning yet NAV failed to break resistance near $36.00. I hesitate to launch new positions but if NAV trades under $34.00 we may want to initiate new bearish plays. 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:     - 0.01   			
Earnings Date          12/30/09 (unconfirmed)    
Average Daily Volume:       1.5 million 
Listed on   October 24, 2009    


Financial SPDRs - XLF - close: 14.97 change: +0.20 stop: 15.21

Financials were some of the best performers today. The XLF hit $15.13 intraday. If the rally continues tomorrow we'll probably get stopped out. If the XLF somehow manages to close over $15.00 but fails to hit our stop at $15.21 we'll close the play early. I'll probably close this play early if the S&P 500 can close above the 1100 level. I'm not suggesting new positions at this time.

Entry on   October 26 at $14.71 (small positions) 
Change since picked:     + 0.26   			
Earnings Date          --/--/-- 
Average Daily Volume:       102 million 
Listed on   October 26, 2009    


CLOSED BULLISH PLAYS

UltraShort Russell - TWM - close: 29.21 change: +0.40 stop: 28.49

The market's spike higher this morning was enough to send the TWM down to $28.19. Shares hit our stop at $28.49 closing the play.

chart:

Entry on   October 24 at $28.41 
Change since picked:     + 0.08 <-- stopped @ 28.49 (+0.0%)
                            /1st target hit @ 31.90 (+12.2%)
Earnings Date          00/00/00 
Average Daily Volume:       4.2 million 
Listed on   October 24, 2009