BULLISH Play Updates

Best Buy Inc. - BBY - close: 43.54 change: +0.41 stop: 39.85

Several retailers, mostly department stores and apparel stores, released their November same-store sales figures. Overall they were very disappointing. BBY did not announce any sales figures yet and the stock managed to post a gain. There is no change from my prior comments on BBY.

I remain bullish on BBY but I'm not suggesting new positions at this time. 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:     + 1.34   			
Earnings Date          12/15/09 (unconfirmed)    
Average Daily Volume:       5.1 million 
Listed on  November 09, 2009    


Bank of Hawaii - BOH - close: 44.88 change: -1.08 stop: 43.90

The banking sector produced a failed rally/bearish reversal pattern today. This morning the group rallied on the BAC news (repaying TARP) but the sector eventually turned negative. BOH lost 2.3%. This doesn't bode well if the market fails to rally on the jobs data tomorrow.

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:     - 1.32   			
Earnings Date          01/25/10 (unconfirmed)    
Average Daily Volume:       424 thousand
Listed on  November 17, 2009    


Du Pont - DD - close: 34.83 change: -0.55 stop: 33.95

DD eked out a new 2009 high at $35.62. That was enough to hit our trigger at $35.55 so our bullish play is now open. Unfortunately, shares of DD, like most of the market, turned south this afternoon. I would wait for a new high over $35.60 before launching new positions.

Our first target is $39.50. Our time frame is several weeks. We'll plan to exit ahead of the late January earnings report. FYI: The Point & Figure chart is bullish with a $56 target.

chart:

Entry on  December 03 at $35.55
Change since picked:     - 0.72   			
Earnings Date          01/27/10 (unconfirmed)    
Average Daily Volume:       5.8 million 
Listed on  December 01, 2009    


Johnson & Johnson - JNJ - close: 64.16 change: +0.28 stop: 59.90

JNJ continues to show relative strength and hit a new 2009 high. The $65 level is probably round-number, psychological resistance. I would expect some profit taking (pull back) soon. Our target first target is $67.50.

Entry on  November 23 at $63.05
Change since picked:     + 1.11   			
Earnings Date          01/26/10 (unconfirmed)    
Average Daily Volume:      12.6 million 
Listed on  November 21, 2009    


Potlatch Corp. - PCH - close: 30.25 change: -0.20 stop: 27.95

PCH challenged the $31.00 level this morning but traders decided to take some profits this afternoon. I'm bullish with the stock over $30.00 but direction now depends on the jobs report tomorrow morning.

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:     - 0.05   			
Earnings Date          02/11/10 (unconfirmed)    
Average Daily Volume:       503 thousand
Listed on  November 11, 2009    


Southern Copper Corp. - PCU - close: 35.16 change: -1.24 stop: 33.80

Traders started taking profits in the mining stocks over in Europe and the trend carried over into the U.S. this morning. PCU gapped open lower and closed the session with a 3.4% loss. The two-day move with the breakout and reversal is very short-term bearish. Everything can change based on how investors choose to interpret the jobs data tomorrow. I would look for a bounce from $34.00 or a new high before launching new positions.

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:     + 1.36   			

2nd Entry December 02 at $36.28 /gap down entry
Change since picked:     - 1.12
Earnings Date          10/22/09 (confirmed)    
Average Daily Volume:       3.5 million 
Listed on  November 03, 2009    


Renolds American - RAI - close: 51.05 change: -0.12 stop: 49.49

RAI spent the session consolidating under resistance. I am not suggesting new bullish positions at this time. Our target is $54.50. Our time frame is several weeks.

Entry on  November 14 at $50.32 
Change since picked:     + 0.73   			
Earnings Date          02/11/10 (unconfirmed)    
Average Daily Volume:       1.6 million 
Listed on  November 14, 2009    


Starbucks Corp. - SBUX - close: 21.12 change: -0.56 stop: 20.95

SBUX is retreating toward the bottom of its trading range. I'm suggesting a trigger to buy the stock at $22.25. If triggered our first target is $24.90.

Entry on  November xx at $xx.xx <-- TRIGGER @ 22.25
Change since picked:     + 0.00   			
Earnings Date          01/28/10 (unconfirmed)    
Average Daily Volume:      10.9 million 
Listed on  November 30, 2009    


Symantec - SYMC - close: 17.96 change: -0.04 stop: 17.24

The $18.20 level is proving to be tougher resistance than I expected for SYMC. Once again the stock has rallied up to $18.19 only to reverse lower. I am adjusting our trigger to open bullish positions from $18.20 to $18.25.

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 @ 18.25
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: 51.44 change: -1.21 stop: 49.75

Uh-oh! We could be in trouble. TRV under performed the market with a failed rally under $53.00 and a 2.2% decline. If the jobs report disappoints tomorrow odds are really good we'll get stopped out. More conservative traders might want to up their stop closer to $51.00 instead of $49.75. Our target is $57.40.

Entry on  November 27 at $51.94 /gap down entry point 
Change since picked:     - 0.50   			
Earnings Date          01/27/10 (unconfirmed)    
Average Daily Volume:       5.3 million 
Listed on  November 07, 2009    


Texas Instruments - TXN - close: 26.44 change: +0.48 stop: 24.40

TXN is still showing relative strength and set a new 2009 high. The stock closed with a 1.8% gain. Wait and see how the market reacts to the jobs data before launching new positions. Our first target is $29.75.

Entry on  December 02 at $26.15
Change since picked:     + 0.29   			
Earnings Date          01/26/10 (unconfirmed)    
Average Daily Volume:      12.6 million 
Listed on  December 01, 2009    


Warner Chilcott - WCRX - close: 25.83 change: -0.19 stop: 22.90

WCRX gave up less than 1% to close near its highs in spite of the market's late day weakness. If the stock pulls back a bounce near $24.50-24.00 would be a new entry point. Our first target is $27.40. Our second target is $29.45.

Entry on  December 01 at $24.77 gap open entry point (small positions)
Change since picked:     + 1.06   			
Earnings Date          02/25/10 (unconfirmed)    
Average Daily Volume:       1.8 million 
Listed on  November 28, 2009    


Wyndham Worldwide - WYN - close: 19.27 change: +0.30 stop: 17.85

WYN also displayed some relative strength today. The stock posted a 1.5% gain. The next obstacle is round-number resistance at $20.00. 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:     + 0.39   			
Earnings Date          02/11/10 (unconfirmed)    
Average Daily Volume:       3.5 million 
Listed on  November 10, 2009    


Financial SPDR - XLF - close: 14.36 change: -0.30 stop: 14.15

Our new play on the XLF didn't pan out quite like we expected. Financials did rally this morning like we thought. Unfortunately the rally only lasted about an hour and the sector began to fade lower. This turned into a sell-off heading into the closing bell. Our trigger to buy the XLF was hit at $14.85. The play is open and our target is $16.40. If the market doesn't rally on the jobs data tomorrow we'll probably get stopped out at $14.15 pretty quickly.

chart:

Entry on  December 03 at $14.85 
Change since picked:     + 0.00   			
Earnings Date          --/--/-- (unconfirmed)    
Average Daily Volume:        82 million 
Listed on  December 02, 2009    


BEARISH Play Updates

Activision-Blizzard - ATVI - close: 11.30 change: -0.04 stop: 12.01

The bounce attempt in ATVI failed at $11.50. The action in this stock is growing more bearish. I'm suggesting a trigger to launch small bearish trades at $11.15. More conservative traders could wait for a drop under $11.00 first. If triggered our first target is $10.05. Our second target is $9.25. Our time frame is several weeks. FYI: The Point & Figure chart is currently forecasting a $7.50 target.

Entry on  November xx at $xx.xx <-- TRIGGER @ 11.19
Change since picked:     + 0.00   			
Earnings Date          02/04/10 (unconfirmed)    
Average Daily Volume:        20 million 
Listed on  November 28, 2009    


Bank of New York - BK - close: 26.75 change: -0.61 stop: 27.16

The rally in BK has reversed at technical resistance near the 50 and 200-dma. Aggressive traders may want to consider bearish positions here. I'm suggesting readers stick to the plan and wait for a breakdown.

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: 19.87 change: +0.10 stop: 21.26

It looks like the bounce in LBTYA is reversing. Shares hit $20.45 but closed back under its exponential 200-dma and the $20.00 mark. While the larger pattern is bearish the stock could still rally if jobs data is stronger than expected. I'm not suggesting new positions at this time. We'll wait and see how LBTYA performs tomorrow. 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:     + 0.02   			
Earnings Date          02/24/10 (unconfirmed)    
Average Daily Volume:       2.5 million 
Listed on  November 21, 2009    


Metlife Inc. - MET - close: 34.11 change: -0.97 stop: 36.05

MET erased yesterday's gains with a 2.7% decline. The stock spiked toward resistance near $36.00 and reversed lower. This looks like a new bearish entry point but I'd wait and see how the market reacts to the jobs report tomorrow.

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:     - 0.28   			
Earnings Date          02/04/10 (unconfirmed)    
Average Daily Volume:       7.2 million 
Listed on  November 21, 2009    


CLOSED BULLISH PLAYS

Analogic Corp. - ALOG - close: 38.90 change: -1.12 stop: 38.99

ALOG under performed the market on Thursday. Shares gapped open this morning but immediately reversed and fell under the $40.00 level. When the market began to accelerate lower this afternoon ALOG broke the $39.00 level and hit our stop loss at $38.00 closing the play.

chart:

Entry on  November 25 at $41.51 
Change since picked:     - 2.52 <-- stopped @ 38.99 (-6.0%)
Earnings Date          12/09/09 (confirmed)    
Average Daily Volume:      41.5 thousand
Listed on  November 24, 2009