We're seeing a number of our bullish candidates extend their gains this week. Tonight's newsletter has three updated stop losses.


BULLISH Play Updates

Bank of Hawaii - BOH - close: 47.82 change: +0.66 stop: 45.40 *new*

The breakout in BOH is still in progress and shares soared to another new 2009 high. I am raising our stop loss to $45.40. Our first target is $49.85. Our second target is $53.50.

Entry on  November 18 at $46.20 
Change since picked:     + 1.62   			
Earnings Date          01/25/10 (unconfirmed)    
Average Daily Volume:       424 thousand
Listed on  November 17, 2009    


Broadcom - BRCM - close: 32.00 change: +0.03 stop: 28.75

BRCM is still trying to rally past the $32.00 level but it's taking its time. There is no change from my prior comments. 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:     + 0.75   			
Earnings Date          01/28/10 (unconfirmed)    
Average Daily Volume:       7.4 million 
Listed on  December 05, 2009    


Cal-Maine Foods Inc. - CALM - close: 29.47 change: +0.87 stop: 27.49

CALM has produced some follow through on the recent bounce from $28.00. So far so good.

Our first target to take profits is at $30.95. Our target is somewhat aggressive since earnings are coming up in a few days. Odds of CALM actually hitting our target before the Dec. 28th report are growing slim but shares should be headed that direction.

Entry on  December 09 at $28.66 -small positions-
Change since picked:     + 0.81   			
Earnings Date          12/28/09 (unconfirmed)    
Average Daily Volume:       125 thousand
Listed on  December 09, 2009    


Disney - DIS - close: 32.31 change: -0.09 stop: 29.99

DIS failed to participate in the market-wide rally on Tuesday. Our target is a little optimistic at $34.75 but we will plan to exit ahead of the February earnings report. FYI: The Point & Figure chart currently points to a $45 target.

Entry on  December 12 at $31.70 
Change since picked:     + 0.61   			
Earnings Date          02/09/10 (unconfirmed)    
Average Daily Volume:      11.0 million 
Listed on  December 12, 2009    


EMCOR Group - EME - close: 27.33 change: +0.15 stop: 24.99

EME managed to eke out a new closing high for the year. There is no change from yesterday's comments. I am suggesting bullish positions now with a stop loss at $24.99. More conservative traders could use a tighter stop near $26. The Point & Figure chart is bullish with a $42 target. I'm listing our first target at $29.85. Our time frame is several weeks.

Entry on  December 21 at $27.18 
Change since picked:     + 0.15   			
Earnings Date          02/25/10 (unconfirmed)    
Average Daily Volume:       514 thousand
Listed on  December 21, 2009    


Home Depot - HD - close: 29.29 change: +0.33 stop: 27.40

The rise in home sales was seen as a positive for HD. If you're buying a home then you might have some fix up to do. I heard that if you buy a bank-owned foreclosure that the average renovation cost was about $5,700. That's got to be good news for HD and LOW. Shares of HD hit new 2009 highs today. Our first target is $30.60. Our second target is $32.45. We'll plan to exit ahead of the February earnings report. FYI: The P&F chart is very bullish with a $44 target.

Entry on  December 14 at $28.82 *gap higher entry  
Change since picked:     + 0.47   			
Earnings Date          02/23/10 (unconfirmed)    
Average Daily Volume:      15.7 million 
Listed on  December 12, 2009    


HMS Holdings - HMSY - close: 48.67 change: +1.19 stop: 44.90 *new*

HMSY displayed relative strength with a 2.5% rally and a new 2009 high. I am raising our stop loss to $44.90. 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:     + 2.95   			
Earnings Date          02/18/10 (unconfirmed)    
Average Daily Volume:       192 thousand
Listed on  December 05, 2009    


Johnson & Johnson - JNJ - close: 64.53 change: +0.20 stop: 59.90

JNJ spent another day drifting sideways. There is no change from my prior comments. I've been expecting a dip back toward $62.00. More conservative traders may want to adjust their stop loss higher. 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:     + 1.48   			
Earnings Date          01/26/10 (unconfirmed)    
Average Daily Volume:      12.6 million 
Listed on  November 21, 2009    


Kansas City Southern - KSU - close: 33.18 chg: +0.53 stop: 28.75

KSU jumped again. The stock gapped open higher and closed with a 1.6% gain and a new high for the year. Our first target is $34.90. Our second target is $37.50 but we'll still plan to exit ahead of the late January earnings report.

Entry on  December 14 at $30.90 
Change since picked:     + 2.28   			
Earnings Date          01/28/10 (unconfirmed)    
Average Daily Volume:       677 thousand
Listed on  December 14, 2009    


Potlatch Corp. - PCH - close: 31.55 change: +0.19 stop: 29.49

PCH is inching higher and back into its December trading range. I'm not suggesting new positions at this time. Our first target to take profits is at $33.60. Our second target is $35.75. FYI: The Point & Figure chart is bullish with a $56 target.

Entry on  November 16 at $30.30
Change since picked:     + 0.95   			
Earnings Date          02/11/10 (unconfirmed)    
Average Daily Volume:       503 thousand
Listed on  November 11, 2009    


Renolds American - RAI - close: 53.43 change: +0.22 stop: 50.90

RAI tried to breakout past $54.00 again and failed. As long as shares maintain the bullish trend of higher lows we should be okay. I'm not suggesting new bullish positions. Our target to exit is $54.90.

Entry on  November 14 at $50.32 
Change since picked:     + 3.11   			
Earnings Date          02/11/10 (unconfirmed)    
Average Daily Volume:       1.6 million 
Listed on  November 14, 2009    


Starbucks Corp. - SBUX - close: 23.72 change: +0.58 stop: 21.75

SBUX erased yesterday's losses with a 2.5% rally on Tuesday. The stock is back at its 2009 highs. s Our first target is $24.90.

Entry on  December 10 at $22.25
Change since picked:     + 1.47   			
Earnings Date          01/28/10 (unconfirmed)    
Average Daily Volume:      10.9 million 
Listed on  November 30, 2009    


Seagate Technology - STX - close: 17.83 change: +0.15 stop: 15.99

STX erased yesterday's losses and closed back at our entry point. I'm suggesting we keep our initial position small. Our target is $19.75 as the $20.00 level will probably act as round-number, psychological resistance. We will plan to exit ahead of the mid January earnings report.

Entry on  December 19 at $17.83 /gap open higher
Change since picked:     - 0.00  			
Earnings Date          01/19/10 (unconfirmed)    
Average Daily Volume:       8.2 million 
Listed on  December 19, 2009    


Texas Instruments - TXN - close: 25.64 change: -0.20 stop: 24.85

It looks like we would have been better offer with one of the smaller semiconductor stocks. TXN is under performing its peers. The stock failed to breakout past $26.00 today. More conservative traders may want to exit early. Our first target is $29.75.

Entry on  December 02 at $26.15
Change since picked:     - 0.51   			
Earnings Date          01/26/10 (unconfirmed)    
Average Daily Volume:      12.6 million 
Listed on  December 01, 2009    


United Parcel Service - UPS - close: 58.58 change: -0.04 stop: 56.95

UPS remains stuck in its sideways consolidation. We might be better off waiting for a move over $60.00 to initiate bullish positions. Our target is $64.50.

Entry on  December 14 at $58.99 
Change since picked:     - 0.41   			
Earnings Date          02/02/10 (unconfirmed)    
Average Daily Volume:       4.2 million 
Listed on  December 14, 2009    


Warner Chilcott - WCRX - close: 28.08 change: +0.53 stop: 25.45 *new*

WCRX has bounced back toward its 2009 highs. I am raising our stop loss to $25.45.

If you haven't taken profits yet I strongly suggest you do so now. More cautious investors may want to exit completely. I am not suggesting new positions at this time. Our first target has been hit at $27.40. Our second target is $29.45.

Entry on  December 01 at $24.77 gap open entry point (small positions)
Change since picked:     + 3.31   	
                         /1st target hit @ 27.40 (+10.6%)
Earnings Date          02/25/10 (unconfirmed)    
Average Daily Volume:       1.8 million 
Listed on  November 28, 2009    


Williams Sonoma Inc. - WSM - close: 22.41 change: +0.23 stop: 20.95

WSM is still inching higher but it remains under resistance near $22.50. I'm suggesting a trigger to buy WSM at $22.60. If triggered our first target is $24.90. Our time frame is several weeks.

Entry on  December xx at $xx.xx <-- TRIGGER @ 22.60
Change since picked:     + 0.00   			
Earnings Date          03/24/10 (unconfirmed)    
Average Daily Volume:       2.2 million 
Listed on  December 21, 2009    


Wright Express Corp. - WXS - close: 31.83 change: -0.21 stop: 29.99

The relative weakness in WXS today is worrisome. I am suggesting readers wait for a new rise over $32.50 to open bullish positions. Our target is $35.90. Our time frame is several weeks probably the first of February. FYI: The Point & Figure chart is bullish with a $41 target.

Entry on  December 21 at $32.30
Change since picked:     - 0.47   			
Earnings Date          02/10/10 (unconfirmed)    
Average Daily Volume:       209 thousand
Listed on  December 19, 2009    


Wyndham Worldwide - WYN - close: 20.98 change: -0.09 stop: 18.88

It was a quiet day for WYN with the stock trading sideways in a narrow range. I am not suggesting new bullish positions. Our first target has already been hit at $21.00. We're currently aiming for $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:     + 2.10
                          /1st target hit @ 21.00 (+11.2%)
Earnings Date          02/11/10 (unconfirmed)    
Average Daily Volume:       3.5 million 
Listed on  November 10, 2009    


BEARISH Play Updates

Activision-Blizzard - ATVI - close: 10.87 change: -0.11 stop: 11.45

ATVI continues to look weak and shares under performed the market today.

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:     - 0.28   			
Earnings Date          02/04/10 (unconfirmed)    
Average Daily Volume:        20 million 
Listed on  November 28, 2009    


Wells Fargo - WFC - close: 27.16 change: -0.18 stop: 27.55

There was no follow through on WFC's recent bounce but that doesn't mean we're not still in jeopardy. If the banks show any strength this week we'll probably get stopped out. More conservative traders may want to exit early immediately.

I am not suggesting new bearish positions at this time. We knew this was going to be an aggressive, higher-risk trade so the plan was to use smaller positions. Our first bearish target for WFC is $23.10. Our second and final target is $21.00.

Entry on  December 10 at $25.75 (small positions)
Change since picked:     + 1.41   			
Earnings Date          01/27/10 (unconfirmed)    
Average Daily Volume:        37 million 
Listed on  December 08, 2009    


CLOSED BULLISH PLAYS

GATX Corp. - GMT - close: 29.23 change: -0.37 stop: 28.49

Our aggressive trade on GMT is not panning out. I'm suggesting an early exit now.

chart:

Entry on  December 16 at $30.52 -use small positions-
Change since picked:     - 1.29 <-- early exit @ 29.23 (-4.2%)
Earnings Date          01/21/10 (unconfirmed)    
Average Daily Volume:       314 thousand
Listed on  December 16, 2009