BULLISH Play Updates

Best Buy Inc. - BBY - close: 43.46 change: -0.51 stop: 39.85

Both the S&P 500 and the RLX retail sector are pulling back toward the bottom of their recent trading range. Meanwhile BBY is still in an uptrend although momentum has definitely slowed down. More conservative traders might want to inch up their stops toward the $41.00 level. I am still not suggesting new bullish 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:     + 1.26   			
Earnings Date          12/15/09 (unconfirmed)    
Average Daily Volume:       5.1 million 
Listed on  November 09, 2009    


Bank of Hawaii - BOH - close: 45.39 change: +0.19 stop: 43.90

There is no change from my prior comments on BOH. The stock is still consolidating sideways with the rest of the banking sector.

Our first target is $49.85. I'm adding a second target at $53.50. FYI: The Point & Figure chart is bullish with a $59 target.

Entry on  November 18 at $46.20 
Change since picked:     - 0.81   			
Earnings Date          01/25/10 (unconfirmed)    
Average Daily Volume:       424 thousand
Listed on  November 17, 2009    


Broadcom - BRCM - close: 30.78 change: -0.27 stop: 28.75

Semiconductor stocks continue to show relative strength and the SOX managed to post another gain. Shares of BRCM pulled back less than 1%. I remain bullish on BRCM but given the market's recent weakness there is no rush to open new positions here. Our first target is $34.75. Our second target is $37.00. Our time frame is several weeks.

Entry on  December 07 at $31.25
Change since picked:     - 0.47   			
Earnings Date          01/28/10 (unconfirmed)    
Average Daily Volume:       7.4 million 
Listed on  December 05, 2009    


Expeditors Intl. - EXPD - close: 32.66 chg: -0.03 stop: 30.90

EXPD displayed some volatility this morning with a quick spike down toward $32.00 and a quick bounce back. The stock closed virtually unchanged on the session.

I'm suggesting a trigger to buy EXPD (small positions) at $33.75. There is some resistance near $35.00 but if triggered our target is $37.00. Our time frame is several weeks.

Entry on  December xx at $xx.xx <-- TRIGGER @ 33.75 (small pos)
Change since picked:     + 0.00   			
Earnings Date          02/09/10 (unconfirmed)    
Average Daily Volume:       1.5 million 
Listed on  December 05, 2009    


HMS Holdings - HMSY - close: 44.67 change: -0.58 stop: 43.49

The action in HMSY today was bearish with the intraday bounce rolling over under $45.50. I am expecting a dip toward $44.00 and its 30-dma. If $44 breaks then the July highs near $43.00 could be support. More aggressive traders may want to widen their stops appropriately. Our multi-week target is $49.75. FYI: The P&F chart is bullish with a $69 target.

Entry on  December 05 at $45.72 
Change since picked:     - 1.05   			
Earnings Date          02/18/10 (unconfirmed)    
Average Daily Volume:       192 thousand
Listed on  December 05, 2009    


Johnson & Johnson - JNJ - close: 64.25 change: -0.12 stop: 59.90

JNJ is still holding on to most of its gains but shares are overbought and due for a correction. If the market turns south we should expect JNJ to see some profit taking. I would look for a bounce near the $62.00 level before considering new bullish positions. Our target first target is $67.50.

Entry on  November 23 at $63.05
Change since picked:     + 1.20   			
Earnings Date          01/26/10 (unconfirmed)    
Average Daily Volume:      12.6 million 
Listed on  November 21, 2009    


Potlatch Corp. - PCH - close: 31.55 change: -0.25 stop: 28.49 *new*

The rally in PCH is looking a little tired and I would expect a dip toward $30.00, which readers could use as a new entry point. I'm raising our stop loss to $28.49. More conservative traders may want to use a tighter stop loss.

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:     + 1.25   			
Earnings Date          02/11/10 (unconfirmed)    
Average Daily Volume:       503 thousand
Listed on  November 11, 2009    


Renolds American - RAI - close: 51.95 change: -1.09 stop: 50.90

Ouch! After two strong sessions RAI gave back most of its gains with a 2% plunge. I don't see any specific news behind the profit taking. I'm not suggesting new positions at this time. Our target to exit is $54.90.

Entry on  November 14 at $50.32 
Change since picked:     + 1.63   			
Earnings Date          02/11/10 (unconfirmed)    
Average Daily Volume:       1.6 million 
Listed on  November 14, 2009    


Boston Beer Inc. - SAM - close: 42.59 change: -0.39 stop: 41.74

SAM is still trading sideways above support at the $42.00 level. I am now suggesting that readers look for a move over $43.25 to launch positions. Our first target to take profits is at $46.00. Our second and final target is $49.75. FYI: The Point & Figure chart is bullish with a $58 target. Our time frame is several weeks.

Entry on  December 05 at $42.74 
Change since picked:     - 0.15   			
Earnings Date          03/10/10 (unconfirmed)    
Average Daily Volume:        98 thousand
Listed on  December 05, 2009    


Starbucks Corp. - SBUX - close: 21.22 change: -0.18 stop: 20.95

SBUX is edging closer to the bottom of its trading range. The recent trend of lower highs has given the stock a more bearish posture. More aggressive traders might want to consider bearish positions under $20.75. I would be concerned about support near $20 and its 100-dma.

We are waiting for a breakout. 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    


Travelers Companies - TRV - close: 49.92 change: -0.32 stop: 49.75

We're in trouble here. TRV has continued to sink and shares closed under round-number support at $50.00. More conservative traders will definitely want to exit early. I am not suggesting new positions at this time.

Entry on  November 27 at $51.94 /gap down entry point 
Change since picked:     - 2.02   			
Earnings Date          01/27/10 (unconfirmed)    
Average Daily Volume:       5.3 million 
Listed on  November 07, 2009    


Texas Instruments - TXN - close: 26.33 change: -0.29 stop: 24.40

I can't tell but I suspect the intraday low at $25.12 this morning is a bad tick in shares of TXN. The stock spent most of the day in a very narrow range as investors waited for TXN's mid-quarter update after the bell tonight. The company raised the lower end of its previous guidance and I think investors were hoping TXN would raise the high end of its guidance. The stock is selling off and under $26.00 in after hours markets. If we see a dip or a bounce near $25.00 I'd use it as a new bullish entry point. Our first target is $29.75.

Entry on  December 02 at $26.15
Change since picked:     + 0.18   			
Earnings Date          01/26/10 (unconfirmed)    
Average Daily Volume:      12.6 million 
Listed on  December 01, 2009    


Warner Chilcott - WCRX - close: 25.48 change: -0.51 stop: 22.90

WCRX is starting to retreat from its recent highs. I don't see any changes from my prior comments. Look for a bounce near $24.50-24.00 as 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:     + 0.71   			
Earnings Date          02/25/10 (unconfirmed)    
Average Daily Volume:       1.8 million 
Listed on  November 28, 2009    


Wyndham Worldwide - WYN - close: 20.30 change: -0.19 stop: 17.85

WYN is still holding on to the $20.00 level, which is a positive sign. Our first target to take profits is at $21.00. Our second and final target is $22.40. 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:     + 1.42   			
Earnings Date          02/11/10 (unconfirmed)    
Average Daily Volume:       3.5 million 
Listed on  November 10, 2009    


Financial SPDR - XLF - close: 14.26 change: -0.13 stop: 14.15

Banking stocks were some of the worst performers in Europe as investors worried about their exposure to Dubai after Nakheel, a Dubai real estate developer, reported billions in losses today. Here in the U.S. the financials were weak but the spent most of the session in a narrow trading range.

Unfortunately for us the XLF gapped open lower and closed under technical support at its 100-dma. There is still some short-term support near $14.20 but more conservative traders will want to seriously consider an early exit right here! I am not suggesting new positions at this time. Our target is $16.40.

Entry on  December 03 at $14.85 
Change since picked:     - 0.59   			
Earnings Date          --/--/-- (unconfirmed)    
Average Daily Volume:        82 million 
Listed on  December 02, 2009    


BEARISH Play Updates

Activision-Blizzard - ATVI - close: 10.74 change: -0.19 stop: 11.81 *new*

ATVI closed at new four-week lows with a 1.7% decline. I am adjusting our stop loss down to $11.81.

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  December 04 at $11.15
Change since picked:     - 0.41   			
Earnings Date          02/04/10 (unconfirmed)    
Average Daily Volume:        20 million 
Listed on  November 28, 2009    


Bank of New York - BK - close: 26.91 change: +0.10 stop: 27.16

Shares of BK are still consolidating sideways. 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    


CLOSED BULLISH PLAYS

Symantec - SYMC - close: 17.36 change: -0.30 stop: 17.24

The bull trap in SYMC is now complete. After spike above resistance two days ago to open our play SYMC is now breaking support. Shares hit our stop loss at $17.24 to close our trade.

chart:

Entry on  December 04 at $18.25 
Change since picked:     - 1.01 <-- stopped @ 17.24 (-5.5%)
Earnings Date          01/27/10 (unconfirmed)    
Average Daily Volume:      11.8 million 
Listed on  November 16, 2009