Banks were the best performers and our bank trade has hit our trigger point.


BULLISH Play Updates

Best Buy Inc. - BBY - close: 42.48 change: +0.28 stop: 39.85 *new*

Not much happening in shares of BBY right now. The stock is stuck in a sideways trading range between $41.50 and $43.00. I would still consider new bullish positions near $41.50. At this time I'm inching our stop loss up to $39.85. 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:     + 0.28   			
Earnings Date          12/15/09 (unconfirmed)    
Average Daily Volume:       5.1 million 
Listed on  November 09, 2009    


Baker Hughes Inc. - BHI - close: 42.21 change: -0.85 stop: 40.49

Oil drifted sideways most of the session and eventually turned higher on dollar weakness. Unfortunately the oil stocks weren't so strong. BHI fell toward the bottom of its recent trading range. I would buy the stock on another bounce near $41.00 but readers could wait for a move over resistance near $44.00 instead. Our first target is $47.00. Our second target is $49.85.

Entry on  November 09 at $43.06 
Change since picked:     - 0.85   			
Earnings Date          01/28/10 (unconfirmed)    
Average Daily Volume:       5.6 million 
Listed on  November 09, 2009    


Bank of Hawaii - BOH - close: 46.10 change: +0.24 stop: 43.90

Banking stocks were the best performers in the market on Wednesday. The banking indices rose 1.3%. Shares of BOH only managed a 0.5% gain but it was enough to breakout over resistance at $46.00 and hit our trigger to buy the stock at $46.20.

Our first target to take profits is at $49.85. FYI: The Point & Figure chart is bullish with a $59 target.

chart:

Entry on  November 18 at $46.20 
Change since picked:     - 0.10   			
Earnings Date          01/25/10 (unconfirmed)    
Average Daily Volume:       424 thousand
Listed on  November 17, 2009    


Dreamworks Animation - DWA - close: 33.56 change: -0.24 stop: 32.95

DWA is still drifting lower. At this time I wouldn't be surprised to see it pull back toward $33.00 and its 30-dma. Wait for a bounce from $33.00 before considering new positions. More conservative traders could wait for a new relative high 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:     - 0.69   			
Earnings Date          02/24/10 (unconfirmed)    
Average Daily Volume:       763 thousand
Listed on  November 14, 2009    


ENERSYS - ENS - close: 24.24 change: -0.03 stop: 22.40

There is no change from my prior comments on ENS. The stock traded sideways in a very narrow range.

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:     + 0.04   			
Earnings Date          02/10/10 (unconfirmed)    
Average Daily Volume:       530 thousand
Listed on  November 14, 2009    


Halliburton - HAL - close: 31.69 change: -0.06 stop: 29.80

We are looking for HAL to breakout over resistance at the $32.00 level. I'm suggesting a trigger to buy HAL at $32.20. If triggered our first target is $34.90.

Entry on  November xx at $xx.xx <-- TRIGGER @ 32.20
Change since picked:     + 0.00   			
Earnings Date          01/26/10 (unconfirmed)    
Average Daily Volume:      15.7 million 
Listed on  November 17, 2009    


PACCAR Inc. - PCAR - close: 39.46 change: +0.08 stop: 38.25

The plan is to buy PCAR on a breakout over resistance. 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: 29.57 change: +0.13 stop: 27.95

PCH dipped toward $29.00 and bounced. Traders could use the afternoon bounce as an entry point but more cautious investors may want to wait for a new close over $30.00. 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:     - 0.73   			
Earnings Date          02/11/10 (unconfirmed)    
Average Daily Volume:       503 thousand
Listed on  November 11, 2009    


Southern Copper Corp. - PCU - close: 35.28 change: -0.77 stop: 32.80 *new*

Warning! PCU has produced a bearish engulfing candlestick (reversal) pattern at resistance near its highs around $36.00. This is very short-term bearish. I am upping our stop loss to $32.80. I'm not suggesting new positions at this time. More conservative traders may want to exit early.

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:     + 1.48   			
Earnings Date          10/22/09 (confirmed)    
Average Daily Volume:       3.5 million 
Listed on  November 03, 2009    


Polaris Industries - PII - close: 45.35 change: -0.38 stop: 42.40

The sideways consolidating in PII has taken on a bearish tone with a short-term pattern of lower highs. I'm not suggesting new positions at this time. More conservative traders 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:     + 0.20   			
Earnings Date          01/28/10 (unconfirmed)    
Average Daily Volume:       516 thousand
Listed on  November 07, 2009    


Renolds American - RAI - close: 51.17 change: +0.09 stop: 47.90

Upward momentum in RAI appears to be slowing down. This is the fifth gain in a row for the stocks are shares are arguably short-term overbought. 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:     + 0.85   			
Earnings Date          02/11/10 (unconfirmed)    
Average Daily Volume:       1.6 million 
Listed on  November 14, 2009    


Symantec - SYMC - close: 17.97 change: +0.15 stop: 17.24

SYMC is inching closer to resistance at the $18.00 level. 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: +0.00 stop: 49.75

Shares of TRV continue to trade sideways. Today's consolidation was pretty narrow and the stock closed unchanged on the day.

I'm keeping our trigger to buy the stock at $52.15 but I've added 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: 19.56 change: -0.14 stop: 16.90

WYN consolidating sideways, which seems to be the popular thing to do the last couple of days. I wouldn't be surprised to see a little profit taking before shares moved 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:     + 0.68   			
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*