BULLISH Play Updates

Bank of Hawaii - BOH - close: 49.40 change: +0.76 stop: 47.80 *new*

Banks decided to rebound today and BOH added 1.5%. Shares hit a new 52-week high and they're getting close to our target to exit a $49.85. More aggressive traders may want to aim higher but I would not hold over the earnings report due out January 25th. I am raising our stop loss to $47.80.

Entry on  November 18 at $46.20     
Change since picked:     + 2.44   
Earnings Date          01/25/10 (confirmed)
Average Daily Volume:       424 thousand   
Listed on  November 17, 2009    


Cisco Systems Inc. - CSCO - close: 24.64 change: +0.44 stop: 23.95

CSCO is bouncing from the bottom of its two-week trading range. Aggressive traders could jump in now but I'm suggesting readers wait. Use a trigger to buy CSCO at $25.05. If triggered our first target is $27.40, which is a little optimistic but we will plan to exit ahead of the early February earnings report. The plan is to keep our positions small to reduce risk.

Entry on   January xx at $xx.xx <-- TRIGGER @ 25.05 
Change since picked:     + 0.00 (small positions)   
Earnings Date          02/03/10 (confirmed)         
Average Daily Volume:        34 million      
Listed on   January 09, 2009    


CSX Corp. - CSX - close: 51.02 change: +0.31 stop: 48.90

Today's intraday dip to $50.11 was an entry point to get long shares of CSX. I would still open positions now near $51.

This is going to be a very short-term play. Earnings are coming up on January 19th. While I am tempted to hold over the report we will exit ahead of the announcement. There are just too many unknown variables that can turn an earnings report into a painful lesson in risk management. Our first target is $53.95.

Entry on   January 12 at $50.71 
Change since picked:     + 0.31   			
Earnings Date          01/19/10 (confirmed)    
Average Daily Volume:       2.6 million 
Listed on   January 12, 2009    


Diana Shipping Inc. - DSX - close: 16.18 change: +0.14 stop: 14.95

Traders bought the dip this morning again. Volume was a little light today but DSX acts like it wants to go higher. This sector and this stock can be volatile. I do consider this an aggressive, higher-risk trade. We want to keep positions small. Our first target is $17.90.

Entry on   January 09 at $16.44 /gap higher entry
Change since picked:     - 0.26 (small positions)
Earnings Date          02/18/10 (unconfirmed)    
Average Daily Volume:       1.5 million       
Listed on   January 09, 2009    


Home Depot - HD - close: 28.13 change: +0.15 stop: 27.80

The bounce in HD today was pretty mild. I remain very cautious here. More conservative traders may want to exit early. I'm not suggesting new positions at this time.

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:     - 0.69   			 
Earnings Date          02/23/10 (unconfirmed)     
Average Daily Volume:      15.7 million      
Listed on  December 12, 2009    


Hologic Inc. - HOLX - close: 15.17 change: +0.25 stop: 14.40

We finally got the breakout in HOLX. Shares rallied past resistance near $15.05 and hit our trigger to open positions at $15.15. Our first target is $16.45. Watch the 100-dma as potential resistance. I would keep positions small.

chart:

Entry on   January 13 at $15.15   (small positions)
Change since picked:     + 0.02   			  
Earnings Date          02/01/10 (unconfirmed)      
Average Daily Volume:       2.7 million      
Listed on   January 04, 2009    


Potlatch Corp. - PCH - close: 32.76 change: +0.59 stop: 31.49

PCH is bouncing back toward resistance near $32.00. The stock looks ready to breakout higher. 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.

Entry on  November 16 at $30.30 
Change since picked:     + 2.46 
Earnings Date          02/11/10 (unconfirmed) 
Average Daily Volume:       503 thousand     
Listed on  November 11, 2009    


Renolds American - RAI - close: 53.51 change: +0.36 stop: 52.45

RAI managed to push past minor resistance at $53.50 but it remains under significant resistance near $54.00. I am not suggesting new bullish positions at this time. We've already sold half our position near $53. Our second and final target is $55.90.

Entry on  November 14 at $50.32  
Change since picked:     + 3.19  
                       /sell half @ 53.15 (+5.6%) 
Earnings Date          02/11/10 (unconfirmed)     
Average Daily Volume:       1.6 million      
Listed on  November 14, 2009    


Starbucks Corp. - SBUX - close: 23.37 change: +0.55 stop: 21.95

SBUX delivered a nice bounce and out performed most of the market with a 2.4% gain. I still hesitate to launch new positions. We want to exit ahead of the January 20th earnings report. Our target to exit is $24.90.

Entry on  December 10 at $22.25   
Change since picked:     + 1.12   
Earnings Date          01/20/10 (confirmed)
Average Daily Volume:      10.9 million    
Listed on  November 30, 2009    


Sigma Designs - SIGM - close: 12.23 change: +0.43 stop: 10.95

Uh-oh! It looks like SIGM might run away from us. We did not get triggered yesterday and I lowered our entry point to $11.35 following yesterday's market decline. Now SIGM soared 3.6% to a new relative high. We do not want to chase this move but we might want to consider a higher entry point. Wait for a pull back. I would still keep positions small as I remain cautious on the market. Our first target to take profits is at $12.95.

Entry on   January xx at $xx.xx <-- TRIGGER @ 11.35 
Change since picked:     + 0.00   			  
Earnings Date          03/04/10 (unconfirmed)      
Average Daily Volume:       392 thousand  
Listed on   January 09, 2009    


Sonoco Products - SON - close: 30.25 change: -0.00 stop: 29.20

It was a very quiet day for SON and shares closed unchanged on the session. I am not suggesting new positions at this time. More conservative traders may want to raise their stops toward the rising 30-dma (current 29.70). Our plan was to use small positions. Our first target is $34.50.

Entry on  December 26 at $30.31    
Change since picked:     - 0.06 (small positions) 
Earnings Date          02/04/10 (unconfirmed)     
Average Daily Volume:       343 thousand    
Listed on  December 26, 2009    


Seagate Technology - STX - close: 18.19 change: +0.47 stop: 17.45

STX is still consolidating sideways. I don't see any changes from my prior comments. More conservative traders will want to consider an early exit right here! I'm not suggesting new positions.

Remember, we plan to exit ahead of the January 20th earnings report. Our target to exit is $19.75. The plan was to keep positions small to limit our risk.

Entry on  December 19 at $17.83 /gap open higher (small positions)
Change since picked:     + 0.36  			     
Earnings Date          01/20/10 (confirmed)        
Average Daily Volume:       8.2 million     
Listed on  December 19, 2009    


Vishay Intertechnology - VSH - close: 8.95 change: +0.24 stop: 8.20

Traders were quick to buy the dip in VSH and the stock managed to rebound sharply. Shares added 2.7% and look poised to rally past the $9.00 level soon. I would use this rebound as a new bullish entry point. Our target is $9.95. The plan was to keep positions small to limit our risk.

Entry on   January 08 at $ 8.85 (small positions)
Change since picked:     + 0.10   			
Earnings Date          02/09/10 (unconfirmed)    
Average Daily Volume:       1.1 million 
Listed on   January 05, 2009    


Wright Express Corp. - WXS - close: 33.13 change: +1.22 stop: 30.95

After a two-week correction shares of WXS are back in rally mode. The stock added 3.8% and is challenging the 52-week high. Readers can use this move as a new entry point. Traders might want to bump their stops toward $31.50.

Our target is $35.90. I'm setting a longer-term target at $39.50 but we want to sell the majority of our position at $35.90. We will plan to exit ahead of the February earnings report.

Entry on  December 21 at $32.30   
Change since picked:     + 0.83   
Earnings Date          02/10/10 (unconfirmed)
Average Daily Volume:       209 thousand   
Listed on  December 19, 2009    


BEARISH Play Updates

Best Buy - BBY - close: 39.73 change: +0.47 stop: 41.26

BBY is seeing an oversold bounce. Look for resistance in the $40-41 zone. Wait for the bounce to roll over before initiating new positions. There is no need to rush into positions now. We'll probably get a new entry point in the next couple of days.

Our first target is $35.25.

Entry on   January 12 at $38.95 (small positions)
Change since picked:     + 0.78   			
Earnings Date          03/25/10 (unconfirmed)    
Average Daily Volume:       8.0 million      
Listed on   January 02, 2009    


CLOSED BULLISH PLAYS

Steel Dynamics - STLD - close: 18.78 change: -0.30 stop: 18.45

It was a volatile morning for STLD. Shares gapped open higher this morning with a move to $19.39 only to reverse very quickly and plunge to $18.24. Our stop loss was hit at $18.45. I would keep STLD on your watch list as we might get a new bullish entry point soon although I might wait until after the earnings report in late January.

STLD had already hit our first target at $19.95. Our second and final target was $21.95.

FYI: This morning STLD announced the first production of iron nuggets at the Mesabi Nugget Facility at Hoyt Lakes, MN. According to STLD's press release this new factory, which took two years to build, is using a new process in conjunction with Kobe Steel Ltd. of Japan, that has the potential to "revolutionize" iron and steel production.

chart:

Entry on   January 06 at $18.75 (small positions)    
Change since picked:     - 0.30 <--stopped @ 18.45 (-1.6%)
                              1st target hit @ 19.95 (+6.4%)
Earnings Date          01/26/10 (unconfirmed)        
Average Daily Volume:       5.7 million      
Listed on   January 04, 2009    


Wyndham Worldwide - WYN - close: 22.19 change: +1.75 stop: 19.90

It's time to take profits in WYN! Shares of WYN exploded higher with a 8.5% gain. The stock was upgraded to a buy this morning. The stock reacted by gapping open higher at $21.68 and hitting new highs at $22.26 this afternoon. I am suggesting we exit this trade now instead of waiting for our second target at $22.40. More aggressive traders can let it ride and just monitor your stops.

chart:

Entry on  November 10 at $18.88 (1/2 position) /gap open higher
Change since picked:     + 3.31    
                           /early (final) exit @ 22.19 (+17.5%)
                          /1st target hit @ 21.00 (+11.2%)
Earnings Date          02/11/10 (unconfirmed)         
Average Daily Volume:       3.5 million     
Listed on  November 10, 2009