We're seeing a few spots of relative strength. We're updating one stop loss and closing one play.


BULLISH Play Updates

Best Buy Inc. - BBY - close: 43.03 change: -0.51 stop: 39.85

Retail stocks under performed the broader market today. The RLX index lost 0.7%. Shares of BBY did a little bit worse with a 0.9% decline. Look for BBY to find some support near $42.00. 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:     + 0.83   			
Earnings Date          12/15/09 (unconfirmed)    
Average Daily Volume:       5.1 million 
Listed on  November 09, 2009    


Bank of Hawaii - BOH - close: 45.56 change: +0.17 stop: 43.90

There is no change from my prior comments on BOH. Shares are trading sideways in a narrow range. I'm not suggesting new bullish positions at this time.

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:     - 0.64   			
Earnings Date          01/25/10 (unconfirmed)    
Average Daily Volume:       424 thousand
Listed on  November 17, 2009    


Broadcom - BRCM - close: 31.27 change: +0.49 stop: 28.75

BRCM has rallied back toward its highs with a 1.5% gain today. The SOX continues to march higher as well. Our first BRCM 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:     + 0.02   			
Earnings Date          01/28/10 (unconfirmed)    
Average Daily Volume:       7.4 million 
Listed on  December 05, 2009    


Expeditors Intl. - EXPD - close: 32.56 chg: -0.10 stop: 30.90

EXPD is still bouncing from dips near the $32.00 level. More aggressive traders may want to consider bullish positions with a very tight stop. I'd prefer to buy on strength here.

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: 45.36 change: +0.69 stop: 43.49

HMSY delivered a nice bounce from the $44.35 level. I remain bullish on HMSY and readers might want to buy this bounce. Or you could wait for a new close over $46.00. 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:     - 0.36   			
Earnings Date          02/18/10 (unconfirmed)    
Average Daily Volume:       192 thousand
Listed on  December 05, 2009    


Johnson & Johnson - JNJ - close: 64.38 change: +0.13 stop: 59.90

JNJ erased yesterday's minor loss but the stock is still consolidating sideways. I'm not suggesting new positions at this time. Our target first target is $67.50.

Entry on  November 23 at $63.05
Change since picked:     + 1.33   			
Earnings Date          01/26/10 (unconfirmed)    
Average Daily Volume:      12.6 million 
Listed on  November 21, 2009    


Potlatch Corp. - PCH - close: 32.08 change: +0.53 stop: 29.49 *new*

PCH is back to showing relative strength. The stock gained 1.6% and closed at new four-month highs. I am raising our stop loss to $29.49.

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:     + 1.78   			
Earnings Date          02/11/10 (unconfirmed)    
Average Daily Volume:       503 thousand
Listed on  November 11, 2009    


Renolds American - RAI - close: 52.86 change: +0.91 stop: 50.90

The volatility in shares of RAI continues. It was a relief to see RAI's 1.7% bounce after shares unexpectedly dove lower on Tuesday. 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:     + 2.54   			
Earnings Date          02/11/10 (unconfirmed)    
Average Daily Volume:       1.6 million 
Listed on  November 14, 2009    


Starbucks Corp. - SBUX - close: 21.30 change: +0.08 stop: 20.95

There is no change from my previous comments on SBUX. The stock is still hovering near the bottom of its trading range. 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 higher. 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: 50.10 change: +0.18 stop: 49.75

TRV came very close to stopping us out with an intraday low of $49.78. Shares managed a bounce back above $50.00 but we're still very much at risk should the market turn lower again. 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:     - 1.84   			
Earnings Date          01/27/10 (unconfirmed)    
Average Daily Volume:       5.3 million 
Listed on  November 07, 2009    


Texas Instruments - TXN - close: 25.99 change: -0.34 stop: 24.40

TXN gapped down this morning following yesterday's mid-quarter guidance. Shares dipped to $25.50 before finding support. I remain bullish on TXN but traders might want to hold out for a dip closer to $25.00 before launching positions. Our first target is $29.75.

Entry on  December 02 at $26.15
Change since picked:     - 0.16   			
Earnings Date          01/26/10 (unconfirmed)    
Average Daily Volume:      12.6 million 
Listed on  December 01, 2009    


Warner Chilcott - WCRX - close: 26.20 change: +0.72 stop: 22.90

WCRX out performed the market with a 2.8% gain and set a new closing high. 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:     + 1.43   			
Earnings Date          02/25/10 (unconfirmed)    
Average Daily Volume:       1.8 million 
Listed on  November 28, 2009    


Wyndham Worldwide - WYN - close: 20.20 change: -0.10 stop: 17.85

This dip toward $20.00 may end up being a new bullish entry point but if you're launching positions here you'll want to raise your stop loss. Our first target is $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:     + 1.32   			
Earnings Date          02/11/10 (unconfirmed)    
Average Daily Volume:       3.5 million 
Listed on  November 10, 2009    


Financial SPDR - XLF - close: 14.31 change: +0.05 stop: 14.15

We were almost stopped out of XLF when the ETF dipped to $14.18 this morning. Banks recovered off their lows but they are still trading sideways. I remain cautious 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:     - 0.54   			
Earnings Date          --/--/-- (unconfirmed)    
Average Daily Volume:        82 million 
Listed on  December 02, 2009    


BEARISH Play Updates

Activision-Blizzard - ATVI - close: 10.79 change: +0.05 stop: 11.81

ATVI spent Wednesday drifting sideways in a narrow range. The short-term trend is down but the stock is arguably short-term oversold too. Look for a failed rally in the $11.25-11.50 zone as a new entry point.

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:     - 0.36   			
Earnings Date          02/04/10 (unconfirmed)    
Average Daily Volume:        20 million 
Listed on  November 28, 2009    


Bank of New York - BK - close: 27.14 change: +0.23 stop: 27.16

We are still waiting for BK to breakdown from its trading range. 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    


Wells Fargo - WFC - close: 25.96 change: -0.07 stop: 28.01

WFC under performed its peers with a 0.2% decline. The stock hit a new relative low intraday (25.82).

I'm suggesting traders open small bearish positions on WFC with a trigger at $25.75, which would be a new four-month low. The stock will probably see a oversold bounce at the 200-dma but if the market is breaking down the bounce is probably temporary. If we are triggered our first bearish target is $23.10. Our second and final target is $21.00. Remember, use small positions. The financials have proven they can be volatile over the last few months.

Entry on  December xx at $xx.xx <-- TRIGGER @ 25.75 (small positions)
Change since picked:     + 0.00   			
Earnings Date          01/27/10 (unconfirmed)    
Average Daily Volume:        37 million 
Listed on  December 08, 2009    


CLOSED BULLISH PLAYS

Boston Beer Inc. - SAM - close: 42.65 change: +0.06 stop: 41.74

It was a volatile session for SAM. The stock suffered an intraday spike lower to $41.30 only to reverse and then eventually see a similar spike higher this afternoon to $43.58. Our stop loss was hit at $41.74 closing the play.

chart:

Entry on  December 05 at $42.74 
Change since picked:     - 1.00 <-- stopped @ 41.74 (-2.3%)
Earnings Date          03/10/10 (unconfirmed)    
Average Daily Volume:        98 thousand
Listed on  December 05, 2009