BULLISH Play Updates

CVR Energy - CVI - close: 8.40 change: -0.14 stop: 7.50

CVI's momentum is beginning to slow. I've been cautioning readers to look for a dip back toward $8.00. I think the dip shows up soon. More conservative traders may want to up their stop loss closer to $8.00. Our target long-term target is $12.50. CVI has to push past resistance at the 200-dma (near $8.74) and the $10.00 level first.

Entry on   January 19 at $ 8.20 
Change since picked:     + 0.20 
Earnings Date          03/10/10 (confirmed)         
Average Daily Volume:       411 thousand     
Listed on   January 17, 2009    


Hologic Inc. - HOLX - close: 15.63 change: -0.20 stop: 14.95

HOLX is beginning to see some profit taking after holding up relatively well the last few days. I'm still looking for possible support near $15.50 and the $15.00 level. The 10-dma and 100-dma are converging near $15.50 to lend it some support. I am not suggesting new positions at this time. Our first target to take profits is at $16.45. Our second target is $17.25.

Entry on   January 13 at $15.15   (small positions)
Change since picked:     + 0.48   			  
Earnings Date          02/01/10 (unconfirmed)      
Average Daily Volume:       2.7 million      
Listed on   January 04, 2009    


North American Palladium - PAL - close: 3.98 change: -0.15 stop: 3.85

It's not looking good for our PAL play. Mining stocks continue to struggle and the dollar is trying to bounce, which is putting some pressure on the commodities. PAL gapped open lower at $4.02 and almost hit our stop this morning with a low of $3.88. The technical picture has definitely turned more negative. More conservative traders may want to exit early now. I'd put PAL back on your watch list and reconsider new bullish positions on a dip near the $3.25-3.00 zone, which should be stronger support. Officially the newsletter is going to hang on and see what happens tomorrow. We might see more volatility following the FOMC decision Wednesday afternoon. Consider keeping your position size small to limit your risk. Our first target is $7.00.

Entry on   January 19 at $4.50 
Change since picked:    - 0.52   			
Earnings Date         02/22/10 (unconfirmed)   
Average Daily Volume:      1.4 million 
Listed on   January 17, 2009    


BEARISH Play Updates

Atlas Air Worldwide - AAWW - close: 36.47 change: -0.44 stop: 40.05

Shares of AAWW followed the market with an intraday bounce that rolled over into the close. We should expect some sort of bounce near $35.00 and its rising 50-dma but it will probably be a temporary rebound. If you're patient we might get another entry point in the $38 region again. The 10-dma should be overhead resistance. Our first target is $32.60. We might consider a second target near $30. My time frame is two or three weeks.

Entry on   January 23 at $37.66 /gap open entry
Change since picked:     - 1.19   			
Earnings Date          02/24/10 (unconfirmed)    
Average Daily Volume:       291 thousand
Listed on   January 23, 2009    


Best Buy - BBY - close: 37.06 change: -0.47 stop: 40.26

BBY is still sinking. Some of the retailers managed a bounce on the better than expected consumer confidence numbers this morning. Not BBY. The stock gapped open lower looked weak all day. Shares are very short-term oversold. I'm not suggesting new positions at this time. A failed rally at the 200-dma could be a new entry point. Our first target to exit is $35.25. I'm adding a second target at $32.25.

Entry on   January 12 at $38.95 (small positions)
Change since picked:     - 1.89   			
Earnings Date          03/25/10 (unconfirmed)    
Average Daily Volume:       8.0 million      
Listed on   January 02, 2009    


Companhia Brasileira de Distribuicao - CBD - cls: 69.77 chg: +1.55 stop: 74.05

Our play on CBD is now open. Shares spiked down under support at $70.00 and hit our trigger to open bearish positions at $69.40. This is a very aggressive trade and CBD can be pretty volatile but there is a pretty good chance that CBD will see a significant correction. The stock is extremely overbought.

I would still consider new positions with the stock just under $70.00. Our first target is $61.00. Our second target is $56.00. Time frame is several weeks.

chart:

Entry on   January 26 at $69.40
Change since picked:     + 0.37  (very small positions)
Earnings Date          03/03/10 (unconfirmed)    
Average Daily Volume:       261 thousand
Listed on   January 23, 2009    


Oshkosh Corp. - OSK - close: 35.16 change: -0.37 stop: 37.51

The oversold bounce is already struggling. OSK is rolling over under its 100-dma. I would use this as a new entry point for bearish positions or you can hold out and wait for a better entry point on a failed rally closer to $37.00. Our first target is $30.25. Our time frame is only a few days. OSK reports earnings on Jan. 28th and we do not want to hold over the announcement.

Entry on   January 22 at $35.25
Change since picked:     - 0.09   			
Earnings Date          01/28/10 (confirmed)    
Average Daily Volume:       977 thousand
Listed on   January 20, 2009    


Children's Place - PLCE - close: 32.03 change: -0.39 stop: 35.05

PLCE failed to rally on the better than expected consumer confidence numbers. I'm suggesting bearish positions now with a stop at $35.05. Our target is $28.05. My time frame is about three weeks.

Entry on   January 23 at $32.41 
Change since picked:     - 0.38   			
Earnings Date          03/18/10 (unconfirmed)    
Average Daily Volume:       598 thousand
Listed on   January 23, 2009    


RTI Intl. - RTI - close: 24.99 change: -0.84 stop: 27.65

The intraday bounce in RTI rolled over near the $26.00 level. My only complaint for today's 3.2% decline is the lack of volume. I don't see any changes from my prior comments. I'm suggesting small positions because RTI does have above average short interest at 9% of the small 29 million-share float. That raises the risk of a short squeeze.

RTI is due to report earnings in early February so our time frame is about a week and a half. Our first target is $23.00. Don't be surprised to see RTI bounce from the 50 or 100-dma. Our second target is $20.75.

Entry on   January 25 at $25.83 (small positions)
Change since picked:     - 0.84   			
Earnings Date          02/03/10 (unconfirmed)    
Average Daily Volume:       720 thousand
Listed on   January 25, 2009