Stocks may have seen a late day bounce but we are raising several stop losses.


BULLISH Play Updates

Adobe Systems - ADBE - close: 37.18 change: -0.03 stop: 36.45

This morning it looked like ADBE might breakout but shares failed at the $37.50 level. We're still waiting for the breakout. I'm suggesting a trigger to buy ADBE at $37.75. If triggered our first target is $39.95. Our second, longer-term target is $42.25. FYI: The P&F chart is bullish with a $52 target.

Entry on  December xx at $xx.xx <-- TRIGGER @ 37.75
Change since picked:     + 0.00   			
Earnings Date          03/17/10 (unconfirmed)    
Average Daily Volume:       5.3 million 
Listed on  December 22, 2009    


Bank of Hawaii - BOH - close: 47.65 change: -0.21 stop: 45.90

Financials were mixed today but overseas they were underperformers. BOH managed a bounce from the bottom of its new trading range. I am not suggesting new bullish positions. I am consolidating our targets to just one at $49.85. Broken resistance near $46.50 should offer some support.

Entry on  November 18 at $46.20 
Change since picked:     + 1.17   			
Earnings Date          01/25/10 (unconfirmed)    
Average Daily Volume:       424 thousand
Listed on  November 17, 2009    


Broadcom - BRCM - close: 31.85 change: +0.55 stop: 29.45

BRCM erased yesterday's losses with a 1.75% gain. I'm still not suggesting new positions at this time. 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:     + 0.60   			
Earnings Date          01/28/10 (unconfirmed)    
Average Daily Volume:       7.4 million 
Listed on  December 05, 2009    


CSX Corp. - CSX - close: 49.12 change: -0.04 stop: 47.40

Railroad stocks were drifting lower today and CSX traded under $49.00. It looks like a minor intraday bounce from the 40-dma but I wouldn't buy it. I would be very cautious here with the stock under $50.00. Look for a bounce back above $50.00 as our next entry point. Our first target is $54.90. We will plan to exit ahead of the mid January earnings report.

Entry on  December 24 at $50.30 
Change since picked:     - 1.18   			
Earnings Date          01/19/10 (unconfirmed)    
Average Daily Volume:       3.0 million 
Listed on  December 22, 2009    


Disney - DIS - close: 32.28 change: -0.10 stop: 30.85 *new*

Wednesday was a quiet session for DIS. The sideways consolidation appears to be narrowing and suggests the next move will be higher. I am raising our stop loss to $30.85. Our target is $34.75. 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:     + 0.58   			
Earnings Date          02/09/10 (unconfirmed)    
Average Daily Volume:      11.0 million 
Listed on  December 12, 2009    


EMCOR Group - EME - close: 27.52 change: +0.05 stop: 25.75 *new*

Traders bought the dip in EME at its rising 10-dma. Shares still looks a little overbought here. I'd wait for a deeper pull back before launching new positions. Please note our new stop loss at $25.75. 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:     + 0.34   			
Earnings Date          02/25/10 (unconfirmed)    
Average Daily Volume:       514 thousand
Listed on  December 21, 2009    


Home Depot - HD - close: 29.13 change: -0.14 stop: 27.40

HD is little changed from yesterday and continues to slide sideways. 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:     + 0.31   			
Earnings Date          02/23/10 (unconfirmed)    
Average Daily Volume:      15.7 million 
Listed on  December 12, 2009    


Johnson & Johnson - JNJ - close: 64.91 change: -0.03 stop: 61.75 *new*

The stock closed virtually unchanged on the session. I'm raising the stop loss to $61.75. 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:     + 1.89   			
Earnings Date          01/26/10 (unconfirmed)    
Average Daily Volume:      12.6 million 
Listed on  November 21, 2009    


Kansas City Southern - KSU - close: 33.83 chg: -0.28 stop: 29.95

KSU is still out performing its peers but the stock has been stuck in a sideways range this week. If you haven't taken any money off the table yet I suggest you do so now. I am not suggesting new positions at this time. We've already taken profits once at $34.05. Our second target is $37.50. We'll plan to exit ahead of the late January earnings report.

Entry on  December 14 at $30.90 
Change since picked:     + 2.93
                          /take profits 12/26/09 @ 34.05 (+10.1%)
Earnings Date          01/28/10 (unconfirmed)    
Average Daily Volume:       677 thousand
Listed on  December 14, 2009    


Potlatch Corp. - PCH - close: 32.41 change: -0.26 stop: 30.30

Traders did buy the dip near $32.00 intraday but I am 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:     + 2.11   			
Earnings Date          02/11/10 (unconfirmed)    
Average Daily Volume:       503 thousand
Listed on  November 11, 2009    


Renolds American - RAI - close: 53.47 change: -0.20 stop: 51.45

RAI continues to drift sideways with short-term resistance at $54.00. I'm not suggesting new bullish positions. Our target to exit is $54.90. More aggressive traders may want to aim for the $56.50-57.00 zone.

Entry on  November 14 at $50.32 
Change since picked:     + 3.15   			
Earnings Date          02/11/10 (unconfirmed)    
Average Daily Volume:       1.6 million 
Listed on  November 14, 2009    


Starbucks Corp. - SBUX - close: 23.31 change: -0.20 stop: 21.75

SBUX suffered some profit taking and dipped to its 10-dma. If the dip continues we can look for short-term support near $22.50 and at the $22.00 levels. I'm not suggesting new bullish positions at this time. Our target to exit is $24.90.

Entry on  December 10 at $22.25
Change since picked:     + 1.36   			
Earnings Date          01/28/10 (unconfirmed)    
Average Daily Volume:      10.9 million 
Listed on  November 30, 2009    


Sonoco Products - SON - close: 29.88 change: -0.23 stop: 28.49

SON also dipped toward its rising 10-dma. Look for a bounce back above $30.00 before considering new positions. Our first target is $34.50. Our time frame is several weeks. FYI: The Point & Figure chart is bullish with a $42.50 target.

Entry on  December 26 at $30.31 
Change since picked:     - 0.43   			
Earnings Date          02/04/10 (unconfirmed)    
Average Daily Volume:       343 thousand
Listed on  December 26, 2009    


Seagate Technology - STX - close: 18.44 change: +0.63 stop: 16.49 *new*

Positive analyst comments with a new set of estimates and a new $22 price target gave STX a boost today. The stock shot higher with a 3.5% rally and a new 2009 high. I am raising our stop loss to $16.49. We want to keep our positions 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:     + 0.61  			
Earnings Date          01/19/10 (unconfirmed)    
Average Daily Volume:       8.2 million 
Listed on  December 19, 2009    


Texas Instruments - TXN - close: 25.98 change: +0.61 stop: 25.24

The semiconductor sector was one of the best performers today and this time shares of TXN actually contributed to the gain. I didn't see any company specific news but the rally pushed TXN to a 2.4% gain. Shares appear to have broken the short-term trend of lower highs and now TXN is challenging resistance at $26.00. Readers may want consider short-term bullish positions on a move over $26.10 or $26.20. We were aiming for $29.75, which is a little optimistic but we'll try and keep our stop loss tight a TXN moves higher.

Entry on  December 02 at $26.15
Change since picked:     - 0.17   			
Earnings Date          01/26/10 (unconfirmed)    
Average Daily Volume:      12.6 million 
Listed on  December 01, 2009    


United Parcel Service - UPS - close: 58.18 change: -0.37 stop: 56.95

Sadly there is no real change in UPS with the stock erasing yesterday's gains. I am suggesting traders wait for a move over $60.00 before initiating new positions. Our target is $64.50.

Entry on  December 14 at $58.99 
Change since picked:     - 0.81   			
Earnings Date          02/02/10 (unconfirmed)    
Average Daily Volume:       4.2 million 
Listed on  December 14, 2009    


Warner Chilcott - WCRX - close: 28.45 change: +0.15 stop: 26.25 *new*

WCRX continues to inch higher. I am raising our stop loss to $26.25. 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:     + 3.68   	
                         /1st target hit @ 27.40 (+10.6%)
Earnings Date          02/25/10 (unconfirmed)    
Average Daily Volume:       1.8 million 
Listed on  November 28, 2009    


Wright Express Corp. - WXS - close: 32.03 change: +0.10 stop: 29.99

WXS hit some profit taking this morning but traders bought the dip twice and shares eventually closed in positive territory. Depending on your style you could buy a bounce from here or just wait for a new relative high (over 32.65). 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:     - 0.27   			
Earnings Date          02/10/10 (unconfirmed)    
Average Daily Volume:       209 thousand
Listed on  December 19, 2009    


Wyndham Worldwide - WYN - close: 20.40 change: -0.18 stop: 18.88

It's not surprising to see WYN continue slipping toward round-number support at $20.00. There is no change from my prior comments. More conservative traders may want to exit early right now or raise their stops toward $20.00. I am not suggesting new positions at this time. 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:     + 1.52
                          /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

Wells Fargo - WFC - close: 26.82 change: +0.14 stop: 27.55

Financials were losers overseas but the sector was mixed here in the U.S. Shares of WFC managed a 0.5% gain. I am not suggesting new positions in WFC 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:     + 1.07   			
Earnings Date          01/27/10 (unconfirmed)    
Average Daily Volume:        37 million 
Listed on  December 08, 2009    


CLOSED BULLISH PLAYS

Williams Sonoma Inc. - WSM - close: 20.98 change: -0.51 stop: 20.95

I am giving up on WSM as a bullish candidate. Shares have broken their bullish trend of higher lows. Our plan was to buy the stock with a trigger at $22.60 but that has yet to be hit.

chart:

Entry on  December xx at $xx.xx <-- TRIGGER @ 22.60
Change since picked:     + 0.00   			*never opened*
Earnings Date          03/24/10 (unconfirmed)    
Average Daily Volume:       2.2 million 
Listed on  December 21, 2009