BULLISH Play Updates

CVR Energy - CVI - close: 8.12 change: -0.23 stop: 7.50

Bingo! We've been looking for a dip back toward $8.00. Now we got it. This should be support. Unfortunately, if the S&P 500 really starts to correct lower CVI will probably follow it down. More conservative traders may want to up their stops toward $8.00. Technically this dip to support looks like an entry point but I would hesitate given the market's overall weakness. 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:     - 0.08 
Earnings Date          03/10/10 (confirmed)         
Average Daily Volume:       411 thousand     
Listed on   January 17, 2009    


BEARISH Play Updates

Atlas Air Worldwide - AAWW - close: 36.48 change: -0.85 stop: 40.05

There was no follow through on yesterday's bounce. AAWW erased yesterday's gains although traders did buy the dip again near its rising 50-dma. I remain bearish with shares under $38.00 and its 10-dma. Our first target is $32.60.

Entry on   January 23 at $37.66 /gap open entry
Change since picked:     - 1.18   			
Earnings Date          02/24/10 (unconfirmed)    
Average Daily Volume:       291 thousand
Listed on   January 23, 2009    


American Tower Corp. - AMT - close: 42.32 change: -0.34 stop: 43.75

AMT churned sideways tagging both its 50-dma and its 30-dma. The stock looks vulnerable here. I would consider new bearish positions now but readers might want to wait for a decline under today's low (41.87). Our first target is $40.10. Our second target is $37.75. We do not want to hold over the late February earnings report.

Entry on   January 27 at $41.90
Change since picked:     + 0.42   			
Earnings Date          02/24/10 (unconfirmed)    
Average Daily Volume:       2.8 million 
Listed on   January 26, 2009    


Best Buy - BBY - close: 36.35 change: -0.57 stop: 40.26

Rising weekly jobless claims are not a good sign for the retailers. The RLX retail index fell 0.4% but BBY gave up 1.5% with another new relative low. More conservative traders may want to lower their stop loss. I'm suggesting readers get ready to take some money off the table. Our first target to exit is $35.25. Our second and final target is $32.25.

Entry on   January 12 at $38.95 (small positions)
Change since picked:     - 2.60   			
Earnings Date          03/25/10 (unconfirmed)    
Average Daily Volume:       8.0 million      
Listed on   January 02, 2009    


Companhia Brasileira de Distribuicao - CBD - cls: 67.69 chg: -0.90 stop: 74.05

The early morning gap higher ran out of steam. CBD fell 1.3% on the session. There is potential support near $66 and its 100-dma. Don't be surprised to see an oversold bounce but the $70 level should now be new resistance. CBD can be a volatile stock. We want to use small positions. Our first target is $61.00. Our second target is $56.00. Time frame is several weeks.

Entry on   January 26 at $69.40 (very small positions)
Change since picked:     - 1.71 
Earnings Date          03/03/10 (unconfirmed)    
Average Daily Volume:       261 thousand
Listed on   January 23, 2009    


DSW Inc. - DSW - close: 24.55 change: -0.40 stop: 25.55

DSW fell from resistance at $25.00 to support near $24.00 and bounced. Odds are growing that DSW will produce a true breakdown. I'm suggesting a trigger at $23.75 to open bearish positions.

If triggered at $23.75 our first target is $21.50 (essentially we're aiming for the 100-dma). Our second target is $20.05.

Entry on   January xx at $xx.xx <-- TRIGGER @ 23.75
Change since picked:     + 0.00   			
Earnings Date          03/24/10 (unconfirmed)    
Average Daily Volume:       387 thousand
Listed on   January 26, 2009    


Children's Place - PLCE - close: 32.56 change: -0.61 stop: 35.05

PLCE gave up 1.8% but shares remain in the $32-34 trading range. I still believe it trades lower and would still consider new positions here although readers may want to wait for a drop under $32.00. Our target is $28.05. My time frame is about three weeks.

Entry on   January 23 at $32.41 
Change since picked:     + 0.15   			
Earnings Date          03/18/10 (unconfirmed)    
Average Daily Volume:       598 thousand
Listed on   January 23, 2009    


RTI Intl. - RTI - close: 24.59 change: -0.84 stop: 27.65

Investors quickly sold the rally this morning and RTI fell 3.3%. Commodity-related stocks struggled around the globe today. 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:     - 1.24   			
Earnings Date          02/03/10 (unconfirmed)    
Average Daily Volume:       720 thousand
Listed on   January 25, 2009    


SBA Communications - SBAC - close: 33.69 change: -0.88 stop: 35.55

Our trade on SBAC has been opened. Shares broke down under their 50-dma and hit our trigger to open bearish positions at $33.45. Now that the play is open our target is $30.15. More aggressive traders could aim for the 200-dma.

chart:

Entry on   January 28 at $33.45
Change since picked:     + 0.24   			
Earnings Date          02/25/10 (unconfirmed)    
Average Daily Volume:       1.5 million 
Listed on   January 26, 2009    


CLOSED BULLISH PLAYS

Hologic Inc. - HOLX - close: 15.08 change: -0.27 stop: 14.95

The correction in HOLX was a little sharper than expected. Shares broke down under support at $15.00 on an intraday basis and hit our stop loss at $14.95. HOLX managed to pare its losses but the bounce wasn't very convincing. There is still support in the $14.75 area but if the S&P continues to sink I would expect HOLX to sink with it.

chart:

Entry on   January 13 at $15.15   (small positions)
Change since picked:     - 0.20 <-- stopped out @ 14.95 (-1.3%)
Earnings Date          02/01/10 (confirmed)      
Average Daily Volume:       2.7 million      
Listed on   January 04, 2009