We had two plays get triggered in spite of the quiet day on Wall Street.


BULLISH Play Updates

Best Buy Inc. - BBY - close: 43.21 change: +0.18 stop: 40.90 *new*

I'm starting to worry about BBY. The retailers were some of the best performers today with the RLX retail index up 1.5% yet shares of BBY only rose 0.4%. The stock is losing momentum. Investors could be turning cautious ahead of the company's December 15th earnings report. BBY reports Tuesday morning so we will plan to exit on Monday, Dec. 14th at the closing bell to avoid holding over earnings. More conservative traders may want to move their stop loss to breakeven. I am raising our stop to $40.90. Our first target is $46.00.

Entry on  November 10 at $42.20
Change since picked:     + 0.99   			
Earnings Date          12/15/09 (unconfirmed)    
Average Daily Volume:       5.1 million 
Listed on  November 09, 2009    


Bank of Hawaii - BOH - close: 45.31 change: -0.25 stop: 43.90

Banking stocks were stronger in Europe but the financials under performed here in the U.S. The consolidation for the sector and shares of BOH is narrowing. We should see a breakout one way or the other pretty soon. I'm not suggesting new bullish positions at this time but a rally past $46.50 might change my mine.

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:     - 0.89   			
Earnings Date          01/25/10 (unconfirmed)    
Average Daily Volume:       424 thousand
Listed on  November 17, 2009    


Broadcom - BRCM - close: 31.39 change: +0.12 stop: 28.75

The SOX semiconductor index hit new highs for the year this morning but slowly drifted into negative territory by the closing bell. The move was more pronounced in shares of BRCM with a rally to $31.75 before shares pared their gains. This almost looks like a short-term top. I wouldn't be surprised to see a retracement toward $30.00. 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:     + 0.14   			
Earnings Date          01/28/10 (unconfirmed)    
Average Daily Volume:       7.4 million 
Listed on  December 05, 2009    


Cal-Maine Foods Inc. - CALM - close: 28.58 change: -0.08 stop: 27.49

CALM hit new relative highs near $29.00 midday but eventually gave back all of its gains to close in the red. Look for a bounce near $28.00 as a new entry point. Our first target to take profits is at $30.95. Our target is somewhat aggressive since we only have two or three weeks before CALM reports earnings and we don't want to hold over the report.

Entry on  December 09 at $28.66 -small positions-
Change since picked:     - 0.08   			
Earnings Date          12/28/09 (unconfirmed)    
Average Daily Volume:       125 thousand
Listed on  December 09, 2009    


Expeditors Intl. - EXPD - close: 32.35 chg: -0.21 stop: 30.90

EXPD is still under performing the rest of the transportation sector and I'm about ready to drop it from the play list as a bullish candidate.

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: 46.13 change: +0.77 stop: 43.90 *new*

HMSY showed relative strength on Thursday with a 1.6% gain and a new closing high. This could be used as a new bullish entry point. I am raising our stop loss to $43.90. 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: 64.77 change: +0.39 stop: 59.90

JNJ set a new closing high for the year with today's gain. The stock remains overbought here. 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:     + 1.72   			
Earnings Date          01/26/10 (unconfirmed)    
Average Daily Volume:      12.6 million 
Listed on  November 21, 2009    


Potlatch Corp. - PCH - close: 31.49 change: -0.59 stop: 29.49

We need to turn a little more defensive on PCH. Not only did the stock erase yesterday's gains but it came close to producing a new bearish reversal pattern. If you're looking for a new entry point I'd wait for another bounce near $30.00.

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:     + 1.19   			
Earnings Date          02/11/10 (unconfirmed)    
Average Daily Volume:       503 thousand
Listed on  November 11, 2009    


Renolds American - RAI - close: 52.93 change: +0.07 stop: 50.90

It was a quiet session for RAI with the stock drifting sideways in a very narrow range. 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:     + 2.61   			
Earnings Date          02/11/10 (unconfirmed)    
Average Daily Volume:       1.6 million 
Listed on  November 14, 2009    


Starbucks Corp. - SBUX - close: 22.31 change: +1.01 stop: 20.95

Wow! Today's move in SBUX is a surprise. There was no news to account for the 4.7% rally. Shares rallied from the low end of its trading range right through the top of its range. Today's breakout over resistance at $22.00 is bullish. SBUX has hit our trigger to buy the stock at $22.25. Our first target is $24.90.

chart:

Entry on  December 10 at $22.25
Change since picked:     + 0.06   			
Earnings Date          01/28/10 (unconfirmed)    
Average Daily Volume:      10.9 million 
Listed on  November 30, 2009    


Travelers Companies - TRV - close: 50.76 change: +0.66 stop: 49.75

The oversold bounce in TRV continues. Shares out performed the market with a 1.3% gain. It would be tempting to buy this bounce but the short-term trend is still down. I am not suggesting new positions at this time.

Entry on  November 27 at $51.94 /gap down entry point 
Change since picked:     - 1.18   			
Earnings Date          01/27/10 (unconfirmed)    
Average Daily Volume:       5.3 million 
Listed on  November 07, 2009    


Texas Instruments - TXN - close: 25.94 change: -0.05 stop: 24.40

Thursday turned out to be rather forgettable for TXN. Shares spent the session churning on either side of $26.00. 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:     - 0.21   			
Earnings Date          01/26/10 (unconfirmed)    
Average Daily Volume:      12.6 million 
Listed on  December 01, 2009    


Warner Chilcott - WCRX - close: 26.92 change: +0.72 stop: 23.90 *new*

That's not a typo. WCRX gained 72 cents for the second day in a row. Shares actually hit a new high at $27.30 before trimming its gains. Readers may want to consider taking some profits off the table. I am raising our stop loss to $23.90. 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:     + 2.15   			
Earnings Date          02/25/10 (unconfirmed)    
Average Daily Volume:       1.8 million 
Listed on  November 28, 2009    


Wyndham Worldwide - WYN - close: 20.01 change: -0.19 stop: 17.85

There is no change from my prior comments on WYN. The stock is slowly consolidating back toward round-number support at the $20.00 mark. I remain bullish and would be tempted to buy the stock here but readers will want to consider a tighter stop (maybe near $19.00). 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:     + 1.13   			
Earnings Date          02/11/10 (unconfirmed)    
Average Daily Volume:       3.5 million 
Listed on  November 10, 2009    


Financial SPDR - XLF - close: 14.29 change: -0.02 stop: 14.15

Banking stocks were bouncing in Europe today but the sector under performed in the U.S. Shares of the XLF traded sideways in the $14.20-14.40 zone most of the session. The short-term trend is down and more conservative traders may want to exit early. I am not suggesting new positions at this time. Our target is $16.40.

Entry on  December 03 at $14.85 
Change since picked:     - 0.56   			
Earnings Date          --/--/-- (unconfirmed)    
Average Daily Volume:        82 million 
Listed on  December 02, 2009    


BEARISH Play Updates

Activision-Blizzard - ATVI - close: 10.76 change: -0.03 stop: 11.81

ATVI has been churning sideways in the $10.60-10.90 zone for the last three days in a row. Volume was pretty low today but there was a surge in volume at the close as the stock bounced from its lows of the session. 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:     - 0.39   			
Earnings Date          02/04/10 (unconfirmed)    
Average Daily Volume:        20 million 
Listed on  November 28, 2009    


Bank of New York - BK - close: 27.12 change: -0.02 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: 25.32 change: -0.64 stop: 28.01

WFC continues to show relative weakness. The stock under performed the market and its peers with a 2.4% decline. The drop today is a bearish breakdown under support and the neckline to a bearish head-and-shoulders pattern.

WFC has hit our trigger to open small bearish positions at $25.75. Our first bearish target is $23.10. Our second and final target is $21.00.

chart:

Entry on  December 10 at $25.75 (small positions)
Change since picked:     - 0.43   			
Earnings Date          01/27/10 (unconfirmed)    
Average Daily Volume:        37 million 
Listed on  December 08, 2009