Several stocks are rebounding from their intraday lows on Tuesday. It could be a new bullish entry point.


BULLISH Play Updates

Best Buy Inc. - BBY - close: 42.20 change: -0.73 stop: 39.40

Retailers struggled thanks to some mixed earnings in the sector last night and this morning. BBY dipped toward its rising 10-dma and bounced. I would use the bounce as a new bullish entry point but readers could hope for a dip closer toward $40.00 instead. 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:     + 0.00   			
Earnings Date          12/15/09 (unconfirmed)    
Average Daily Volume:       5.1 million 
Listed on  November 09, 2009    


Baker Hughes Inc. - BHI - close: 43.06 change: -0.28 stop: 40.49

We are back where we started near $43.00. BHI still looks like it wants to rebound higher from here. I would buy the intraday bounce but readers could still choose to wait for a move over short-term resistance at $44.00 before initiating positions. Our first target is $47.00. Our second target is $49.85.

Entry on  November 09 at $43.06 
Change since picked:     + 0.00   			
Earnings Date          01/28/10 (unconfirmed)    
Average Daily Volume:       5.6 million 
Listed on  November 09, 2009    


Dreamworks Animation - DWA - close: 33.80 change: -0.29 stop: 32.95

Traders bought the dip in DWA near $33.50. The rebound off its lows looks like a new entry point to buy DWA but readers could certainly wait for more confirmation first and wait for a move over $34.30. Our target is $37.40. FYI: The P&F chart is bullish with a $51 target. Plus, DWA has been considered a takeover target for some of the larger media companies.

Entry on  November 16 at $34.25
Change since picked:     - 0.45   			
Earnings Date          02/24/10 (unconfirmed)    
Average Daily Volume:       763 thousand
Listed on  November 14, 2009    


ENERSYS - ENS - close: 24.27 change: +0.12 stop: 22.40

ENS managed to hold above broken resistance at $24.00. Volume was above average on today's gain. I would still launch new positions now. Our first target is $27.00. Our second target is $29.75. Our time frame is several weeks.

Entry on  November 16 at $24.20
Change since picked:     - 0.05   			
Earnings Date          02/10/10 (unconfirmed)    
Average Daily Volume:       530 thousand
Listed on  November 14, 2009    


PACCAR Inc. - PCAR - close: 39.38 change: -0.30 stop: 38.25

There is no change from my Monday night comments. The October high was $40.26. I'm suggesting a trigger to buy PCAR at $40.35. If triggered our first target is $44.75. FYI: The Point & Figure chart is bullish with a $48.00 target.

Entry on  November xx at $xx.xx <-- TRIGGER @ 40.35
Change since picked:     + 0.00   			
Earnings Date          01/28/10 (unconfirmed)    
Average Daily Volume:       3.3 million 
Listed on  November 16, 2009    


Potlatch Corp. - PCH - close: 29.44 change: -0.73 stop: 27.95

The trading in PCH today was pretty disappointing. The stock drifted lower throughout the session and then accelerated lower in the last 30 minutes. I would wait for a bounce in the $29-28 zone or wait for a new close over $30.00 before initiating positions. Our first target to take profits is at $33.60. We will cautiously set a secondary target at $35.75. FYI: The Point & Figure chart is bullish with a $56 target.

Entry on  November 16 at $30.30
Change since picked:     - 0.86   			
Earnings Date          02/11/10 (unconfirmed)    
Average Daily Volume:       503 thousand
Listed on  November 11, 2009    


Southern Copper Corp. - PCU - close: 36.05 change: +0.24 stop: 31.75

PCU is still inching higher and nearing possible resistance at its October highs. I'm not suggesting new positions at this time. Our target is $39.50.

Our plan called for small positions (25% to 50% your normal size).

Entry on  November 04 at $33.80
Change since picked:     + 2.25   			
Earnings Date          10/22/09 (confirmed)    
Average Daily Volume:       3.5 million 
Listed on  November 03, 2009    


Polaris Industries - PII - close: 45.73 change: -0.29 stop: 42.40

PII is still struggling with short-term resistance near $46.00. Readers may want to raise their stops toward $44.00.

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:     + 0.58   			
Earnings Date          01/28/10 (unconfirmed)    
Average Daily Volume:       516 thousand
Listed on  November 07, 2009    


Renolds American - RAI - close: 51.08 change: +0.07 stop: 47.90

RAI recovered from its intraday lows to post another gain, its fourth gain in a row. The stock is up seven out of the last eight days. I'd prefer to open new positions on a dip near $50.00, which should be new support. Our target is $54.50. Our time frame is several weeks!

Entry on  November 14 at $50.32 
Change since picked:     + 0.76   			
Earnings Date          02/11/10 (unconfirmed)    
Average Daily Volume:       1.6 million 
Listed on  November 14, 2009    


Symantec - SYMC - close: 17.82 change: +0.02 stop: 17.24

SYMC is still consolidating under resistance at $18.00. I'm suggesting readers use a trigger to buy SYMC at $18.20. If triggered our first target to take profits is at $19.90. The $20.00 level will probably act as round-number resistance. Our second target, with a much longer time frame, is $21.75. Currently the Point & Figure chart is bullish with a $23 target.

Entry on  November xx at $xx.xx <-- TRIGGER @ 18.20
Change since picked:     + 0.00   			
Earnings Date          01/27/10 (unconfirmed)    
Average Daily Volume:      11.8 million 
Listed on  November 16, 2009    


Travelers Companies - TRV - close: 53.15 change: +0.21 stop: 49.75

TRV is still consolidating sideways but I'm starting to doubt we'll see it dip toward $52.00. I'm keeping our trigger to buy the stock at $52.15 but I'm adding an aggressive trigger to open small positions if TRV hits $53.85 first. If triggered our target is $57.40.

Entry on  November xx at $xx.xx <-- TRIGGER @ 52.15 or 53.85 (1/2 pos)
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: 19.70 change: +0.17 stop: 16.90

Traders bought the dip at $19.18 this morning. WYN still looks a little overbought here and the $20.00 level is still potential round-number resistance. Odds are pretty good that WYN could see a pullback first before moving much higher. Look for a dip near $18.50 as a new entry point.

Our first target is $21.00. FYI: The point & figure chart is bullish with a $27 target. Our time frame is several weeks. The plan was to use small positions (1/2 a position).

Entry on  November 10 at $18.88 (1/2 position) /gap open higher
Change since picked:     + 0.82   			
Earnings Date          02/11/10 (unconfirmed)    
Average Daily Volume:       3.5 million 
Listed on  November 10, 2009    


BEARISH Play Updates

*We currently do not have any bearish play updates*