BULLISH Play Updates

Best Buy Inc. - BBY - close: 43.71 change: +0.41 stop: 39.85

Retailers continue to inch higher as we approach "Black Friday", which is supposed to push retailers "into the black" side of their balance sheet. Personally I'm a little concerned this group might sell-off next week but for now the trend is our friend. BBY hit a new relative high at $44.32 although the intraday pull back makes this almost look like a short-term top. 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:     + 1.51   			
Earnings Date          12/15/09 (unconfirmed)    
Average Daily Volume:       5.1 million 
Listed on  November 09, 2009    


Bank of Hawaii - BOH - close: 46.27 change: +0.55 stop: 43.90

Banks did well on Monday as traders increased their appetite for risk. BOH is back above resistance at $46.00 and I would reconsider new bullish positions at these levels.

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

Entry on  November 18 at $46.20 
Change since picked:     + 0.07   			
Earnings Date          01/25/10 (unconfirmed)    
Average Daily Volume:       424 thousand
Listed on  November 17, 2009    


ENERSYS - ENS - close: 24.01 change: +0.22 stop: 22.40

ENS managed to rally back above resistance at the $24.00 level but it's not very convincing. The stock actually hit a new high at $24.57 but shaved off a good chunk of those gains by the close. Consider waiting for another move over $24.50 before launching positions.

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:     - 0.19   			
Earnings Date          02/10/10 (unconfirmed)    
Average Daily Volume:       530 thousand
Listed on  November 14, 2009    


Halliburton - HAL - close: 30.44 change: +0.56 stop: 29.80

HAL managed to erase Friday's decline but the action in oil today was noteworthy. The early morning rally in oil completely reversed. That's worrisome if you're bullish on energy stocks. We'll keep HAL on the play list with a trigger to open bullish positions at $32.20 but if the stock closes under $30.00 again we'll drop it as a candidate. 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    


Johnson & Johnson - JNJ - close: 62.69 change: +0.38 stop: 59.90

The early morning stock market gains were enough to push JNJ to a new 2009 high at $63.10. Our trigger to buy JNJ was at $63.05 so the play is now open. I'd still consider new positions here but readers will want to consider small position sizes to start. The $65.00 level might offer some resistance but our target first target is $67.50.

chart:

Entry on  November 23 at $63.05
Change since picked:     - 0.36   			
Earnings Date          01/26/10 (unconfirmed)    
Average Daily Volume:      12.6 million 
Listed on  November 21, 2009    


PACCAR Inc. - PCAR - close: 38.94 change: +0.45 stop: 38.25

I don't see any changes from my weekend comments on PCAR. We're still waiting for a breakout higher with a trigger to open bullish positions 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: 29.74 change: +0.53 stop: 27.95

PCH delivered a 1.8% gain but is still struggling with the $30.00 level. Readers might want to 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:     - 0.56   			
Earnings Date          02/11/10 (unconfirmed)    
Average Daily Volume:       503 thousand
Listed on  November 11, 2009    


Southern Copper Corp. - PCU - close: 35.05 change: +0.18 stop: 33.80

A drop in the dollar sent commodities higher. Copper futures hit new relative highs for the year. Yet PCU appears to be under performing its commodity for the moment. Resistance at $36.00 held.

I am not suggesting new bullish 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:     + 1.25   			
Earnings Date          10/22/09 (confirmed)    
Average Daily Volume:       3.5 million 
Listed on  November 03, 2009    


Polaris Industries - PII - close: 45.35 change: +1.04 stop: 43.25 *new*

PII gapped higher and closed over round-number resistance at the $45.00 level. Unfortunately almost all of the stock's gains came at the opening gap. The 50-dma has risen to $43.50. I'll raise or stop loss to $43.25. I'm not suggesting new positions at this time.

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: 51.26 change: +0.38 stop: 49.49 *new*

RAI is looking bullish here. The stock may have under performed the S&P 500 for today but shares are poised to rally higher. Traders might want to buy a move over $51.50 but consider upping your stop loss toward last week's low (near $50.50). I am raising our stop loss to $49.49. Our target is $54.50. Our time frame is several weeks!

Entry on  November 14 at $50.32 
Change since picked:     + 0.94   			
Earnings Date          02/11/10 (unconfirmed)    
Average Daily Volume:       1.6 million 
Listed on  November 14, 2009    


Symantec - SYMC - close: 18.01 change: +0.29 stop: 17.24

SYMC managed to breakout over key resistance at the $18.00 level but it struggled to hold this gain. Shares hit $18.19 and settled right on resistance. Believe it or not we are still sitting on the sidelines. Our trigger to buy SYMC is at $18.20. I don't see any changes to our strategy.

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: 52.97 change: +0.59 stop: 49.75

As of last week it looked like TRV was going to hit our trigger at $52.15 soon. That may not happen now if the market continues to bounce. We'll keep our buy the dip trigger at $52.15 but I'll add a buy the bounce trigger at $53.60. Should TRV hit $53.60 I'd use small position sizes to manage your risk. If triggered our target is $57.40.

Entry on  November xx at $xx.xx <-- TRIGGER @ 52.15 (or 53.60 small 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: 19.06 change: +0.07 stop: 17.20

WYN under performed the rest of the market today. Shares rallied toward $19.50 and trimmed its gains by the close. I'm not suggesting new positions at these levels.

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:     + 0.18   			
Earnings Date          02/11/10 (unconfirmed)    
Average Daily Volume:       3.5 million 
Listed on  November 10, 2009    


BEARISH Play Updates

Bank of New York - BK - close: 26.80 change: +0.61 stop: 27.16

Banking stocks performed well as traders increased their appetite for risk. BK gapped open higher and closed with a 2.3% gain. This looks like an oversold bounce. We'll stick to our plan and wait for a breakdown under support. I'm suggesting a trigger to open bearish positions at $25.49. More cautious trader could wait for a drop under $25.00 since it might be round-number support.

If the newsletter is triggered at $25.49 our first target is $22.25. Our second target is $20.50. Our time frame is several weeks.

Entry on  November xx at $xx.xx <-- TRIGGER @ 25.49
Change since picked:     + 0.00   			
Earnings Date          01/20/10 (unconfirmed)    
Average Daily Volume:      11.4 million 
Listed on  November 21, 2009    


Exelon Corp. - EXC - close: 47.40 change: +0.59 stop: 47.25

EXC continues to bounce around inside its $46-47.50 trading range. We're waiting for a breakdown. I'm suggesting readers use a trigger at $45.80, which is just under the November low. If triggered our first target is $42.25. Our second target is $40.25. The Point & Figure chart is already bearish with a $40 target.

Entry on  November xx at $xx.xx <-- TRIGGER @ 45.80
Change since picked:     + 0.00   			
Earnings Date          01/21/10 (unconfirmed)    
Average Daily Volume:       4.2 million 
Listed on  November 19, 2009    


Liberty Global - LBTYA - close: 20.63 change: +0.24 stop: 21.26

LBYTA is bouncing from support but the rebound struggled with a sharp reversal from the morning highs.

I'm suggesting a trigger to open bearish positions at $19.85. If triggered our first target to take profits is at $18.20 (near the 200-dma). Our second target is $16.20. Our time frame is several weeks.

Entry on  November xx at $xx.xx <-- TRIGGER @ 19.85
Change since picked:     + 0.00   			
Earnings Date          02/24/10 (unconfirmed)    
Average Daily Volume:       2.5 million 
Listed on  November 21, 2009    


Metlife Inc. - MET - close: 34.49 change: +0.59 stop: 36.05

MET gapped open higher on us but shares failed to see much follow through after the gap. I've changed our entry point to $34.39. At this point I'd look for a new drop under $34.00 or maybe $33.60 before launching new positions. There is potential support at the 200-dma near $31.00 but I'm suggesting we target a drop to $30.25. More aggressive traders could aim lower.

Entry on  November 21 at $34.39 /gap higher entry
                           /originally listed at $33.90
Change since picked:     + 0.10   			
Earnings Date          02/04/10 (unconfirmed)    
Average Daily Volume:       7.2 million 
Listed on  November 21, 2009