I'm trimming two candidates from our play list. Overall Wednesday's session was rather boring.


BULLISH Play Updates

Analogic Corp. - ALOG - close: 41.53 change: +0.68 stop: 38.99

Thankfully we didn't have to wait very long for ALOG to breakout past resistance and hit our trigger to buy it at $41.51. The stock hit an intraday high of $42.01 and closed with a 1.6% gain to out perform the rest of the market. The trade is open. Our first target to take profits is at $44.90. I'd aim higher but ALOG is due to report earnings on December 9th and we don't want to hold over the report. FYI: The P&F chart is bullish with a $54 target.

chart:

Entry on  November 25 at $41.51 
Change since picked:     + 0.02   			
Earnings Date          12/09/09 (confirmed)    
Average Daily Volume:      41.5 thousand
Listed on  November 24, 2009    


Best Buy Inc. - BBY - close: 43.26 change: +0.41 stop: 39.85

BBY managed to bounce from short-term support at its rising 10-dma. Bulls remain in control. It will be interesting to see how the retailers react on Friday and next week as the media dissects the "Black Friday" crowds. 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:     + 1.06   			
Earnings Date          12/15/09 (unconfirmed)    
Average Daily Volume:       5.1 million 
Listed on  November 09, 2009    


Bank of Hawaii - BOH - close: 45.72 change: -0.65 stop: 43.90

Banking stocks under performed the rest of the market today. BOH lost 1.4% and closed back under short-term support/resistance at the $46.00 level. I'm not suggesting new positions with the stock under $46.00. More conservative tarders might want to up their stops toward the $45.00 region.

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:     - 0.48   			
Earnings Date          01/25/10 (unconfirmed)    
Average Daily Volume:       424 thousand
Listed on  November 17, 2009    


ENERSYS - ENS - close: 23.49 change: -0.18 stop: 22.40

ENS is still churning sideways. I would remain cautious with the stock under resistance at the $24.00 mark. Readers can choose to buy dips near the 50-dma or wait for a breakout over $24.50.

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:     - 0.71   			
Earnings Date          02/10/10 (unconfirmed)    
Average Daily Volume:       530 thousand
Listed on  November 14, 2009    


Halliburton - HAL - close: 30.21 change: -0.25 stop: 29.80

HAL gapped open lower this morning but traders bought the dip at the rising 50-dma. Nimble traders may want to consider bearish positions if HAL trades under $29.30 again. We're still sitting on the sidelines waiting for a breakout over resistance at $32.00. If we don't see some signs of strength in the next day or two I'll drop HAL as a bullish candidate. The long-term up trend is in jeopardy.

We have a trigger to open bullish positions 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    


Johnson & Johnson - JNJ - close: 63.30 change: +0.12 stop: 59.90

JNJ continues to march higher although bears could argue the stock is overbought given its four-week rally. I remain bullish here but I'd keep positions small until we see a correction in the stock. The $65.00 level might offer some resistance but our target first target is $67.50.

Entry on  November 23 at $63.05
Change since picked:     + 0.25   			
Earnings Date          01/26/10 (unconfirmed)    
Average Daily Volume:      12.6 million 
Listed on  November 21, 2009    


Potlatch Corp. - PCH - close: 29.31 change: -0.20 stop: 27.95

It was a forgettable day for PCH with the stock trading in a narrow range. 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:     - 0.99   			
Earnings Date          02/11/10 (unconfirmed)    
Average Daily Volume:       503 thousand
Listed on  November 11, 2009    


Southern Copper Corp. - PCU - close: 35.86 change: +1.04 stop: 33.80

Today's drop in the U.S. dollar was significant and it could breathe new life into the commodity-stocks. Copper rallied to new 2009 highs. This lifted PCU toward its highs and resistance near $36.00. The drop in the dollar is so bad that I would consider new positions in PCU on a move over $36.50.

Our first target is $39.50. Our second target is $41.50. Our plan called for small positions (25% to 50% your normal size).

Entry on  November 04 at $33.80
Change since picked:     + 2.06   			
Earnings Date          10/22/09 (confirmed)    
Average Daily Volume:       3.5 million 
Listed on  November 03, 2009    


Polaris Industries - PII - close: 45.07 change: +0.10 stop: 43.25

The sideways consolidation in PII continues to narrow. A breakout one way or the other is imminent. If you're looking for a new entry point consider waiting for a move over $46.00.

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:     - 0.08   			
Earnings Date          01/28/10 (unconfirmed)    
Average Daily Volume:       516 thousand
Listed on  November 07, 2009    


Renolds American - RAI - close: 51.37 change: +0.06 stop: 49.49

RAI is not making much progress this week but the path of least resistance continues to be higher. Our target is $54.50. Our time frame is several weeks!

Entry on  November 14 at $50.32 
Change since picked:     + 1.05   			
Earnings Date          02/11/10 (unconfirmed)    
Average Daily Volume:       1.6 million 
Listed on  November 14, 2009    


Symantec - SYMC - close: 18.02 change: +0.08 stop: 17.24

There is still no change from my prior comments. We are waiting for a breakout higher with a trigger to open bullish positions 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: 52.76 change: -0.33 stop: 49.75

TRV is still consolidating sideways. We have a trigger to buy a dip at $52.15. Plus, we have an alternative entry point to open small positions (1/2 to 1/4 your normal size) if TRV hits $53.60. 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: 19.00 change: +0.17 stop: 17.20

WYN has been consolidating sideways for a week and a half now. Unfortunately the consolidation may not be over yet. 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:     + 0.12   			
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: 26.62 change: +0.17 stop: 27.16

Banking stocks were some of the worst performers on Wednesday yet BK managed to out perform its peers. There is no change from my prior comments.

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    


Liberty Global - LBTYA - close: 20.17 change: +0.04 stop: 21.26

LBTYA spent Wednesday's session quietly trading sideways near support at the $20.00 level. Shares have been under performing the market the last two weeks. I believe the trend continues but look for a new relative low (under 19.79) before opening positions. Our first target is $18.20. Our second target is $16.20. Our time frame is several weeks.

Entry on  November 24 at $19.85
Change since picked:     + 0.32   			
Earnings Date          02/24/10 (unconfirmed)    
Average Daily Volume:       2.5 million 
Listed on  November 21, 2009    


Metlife Inc. - MET - close: 34.59 change: +0.17 stop: 36.05

MET has been churning sideways in a narrow range all week long. I'm still bearish but readers may want to wait for a new drop under $34.00 or $33.60 to open 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:     + 0.20   			
Earnings Date          02/04/10 (unconfirmed)    
Average Daily Volume:       7.2 million 
Listed on  November 21, 2009    


CLOSED BULLISH PLAYS

PACCAR Inc. - PCAR - close: 38.21 change: -0.17 stop: 38.25

PCAR has been under performing the broader market the last few days. Shares have been testing support near the $38.00 level and the short-term action in the stock is suggesting PCAR will breakdown under this level. I'm dropping PCAR as a bullish candidate. We had a trigger to buy the stock at $40.35, which has not been hit.

chart:

Entry on  November xx at $xx.xx <-- TRIGGER @ 40.35
Change since picked:     + 0.00   			*never opened*
Earnings Date          01/28/10 (unconfirmed)    
Average Daily Volume:       3.3 million 
Listed on  November 16, 2009    


CLOSED BEARISH PLAYS

Exelon Corp. - EXC - close: 48.29 change: +0.86 stop: 47.25

After three weeks of consolidating sideways EXC is breaking out to the upside. The stock appears to have built a base over the last few weeks but I hesitate to buy this breakout since the larger trend is still very bearish for EXC. We had a trigger to open bearish positions at $45.80, which doesn't look like it will be hit any time soon. I'm dropping EXC as a bearish candidate.

chart:

Entry on  November xx at $xx.xx <-- TRIGGER @ 45.80
Change since picked:     + 0.00   			*never opened*
Earnings Date          01/21/10 (unconfirmed)    
Average Daily Volume:       4.2 million 
Listed on  November 19, 2009