BULLISH Play Updates

CVR Energy - CVI - close: 8.02 change: -0.10 stop: 7.48

Once again I am suggesting that more conservative traders consider an early exit or raising their stop loss. CVI is holding support near $8.00. Yet now that the S&P 500 has broken significant support I am expecting more market weakness and CVI could trade down toward $7.50 and its 50-dma. I am not suggesting new bullish positions at this time and we're going to adjust the stop loss to $7.48 just in case CVI does dip to $7.50.

Annotated chart:

Entry on   January 19 at $ 8.20 
Change since picked:     - 0.18 
Earnings Date          03/10/10 (confirmed)         
Average Daily Volume:       411 thousand     
Listed on   January 17, 2009    


BEARISH Play Updates

Atlas Air Worldwide - AAWW - close: 36.67 change: +0.19 stop: 40.05

I suspect that the airlines are holding up due to the weakness in crude oil. That could continue as long as the dollar keeps inching higher. Short-term it looks like AAWW could still bounce from its rising 50-dma. Readers may want to wait for a more clearly defined failed rally under its 10-dma or the $38.00 level before initiating new positions. Our first target is $32.60.

Annotated chart:

Entry on   January 23 at $37.66 /gap open entry
Change since picked:     - 0.99   			
Earnings Date          02/24/10 (unconfirmed)    
Average Daily Volume:       291 thousand
Listed on   January 23, 2009    


American Tower Corp. - AMT - close: 42.45 change: +0.13 stop: 43.75

AMT is still consolidating sideways. The recent relative strength has me turning more cautious. Wait for a new relative low (under $41.80) before launching new bearish positions. Our first target is $40.10. Our second target is $37.75. We do not want to hold over the late February earnings report.

Annotated chart:

Entry on   January 27 at $41.90
Change since picked:     + 0.55   			
Earnings Date          02/24/10 (unconfirmed)    
Average Daily Volume:       2.8 million 
Listed on   January 26, 2009    


Ameritrade - AMTD - close: 17.76 change: -0.12 stop: 20.05

Friday turned out to be relatively quiet for AMTD. Overall I don't see any changes from our Thursday night comments. The trend is down and AMTD has broken several layers of support. I'm suggesting bearish positions now. Our first target is $16.10. Our second target is $15.05. We'll start with a stop loss at $20.05. More conservative traders may want to use a stop closer to $19.00. Our time frame is about six weeks.

Annotated chart:

Entry on   January 28 at $17.88 
Change since picked:     - 0.12   			
Earnings Date          04/21/10 (unconfirmed)    
Average Daily Volume:       6.1 million 
Listed on   January 28, 2009    


Best Buy - BBY - close: 36.65 change: +0.30 stop: 40.26

Yet again BBY tried to bounce but reversed midday. Shares did end up closing Friday with a gain. The stock remains very short-term oversold and probably due for a larger rebound. Look for resistance near $38.00 and its 200-dma. I am not suggesting new positions at this time. Our first target to exit is $35.25. Our second and final target is $32.25.

Annotated chart:

Entry on   January 12 at $38.95 (small positions)
Change since picked:     - 2.30   			
Earnings Date          03/25/10 (unconfirmed)    
Average Daily Volume:       8.0 million      
Listed on   January 02, 2009    


Companhia Brasileira de Distribuicao - CBD - cls: 66.72 chg: -0.97 stop: 74.05

CBD is still sinking and getting closer to potential support at its rising 100-dma. Shares are short-term oversold so we should expect a bounce soon. Broken support near $70 and its 50-dma should act as overhead resistance. Remember this is a volatile stock and I'm expecting a bumpy ride lower. We want to use small positions to limit our risk. Our first target is $61.00. Our second target is $56.00. Time frame is several weeks.

Annotated chart:

Entry on   January 26 at $69.40 (very small positions)
Change since picked:     - 2.68 
Earnings Date          03/03/10 (unconfirmed)    
Average Daily Volume:       261 thousand
Listed on   January 23, 2009    


DSW Inc. - DSW - close: 24.10 change: -0.45 stop: 25.55

Shares of DSW have faded back to the bottom of their recent trading range. I am very tempted to open positions now but we will stick to the plan, which is using a trigger to open bearish positions at $23.75.

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.

Annotated chart:

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    


F5 Networks - FFIV - close: 49.43 change: -1.29 stop: 52.55

We did not have to wait long for FFIV to hit our trigger at $49.45. The stock quickly reversed on Friday morning and sank to new relative lows. Now that the play is open our first target is $46.10. Our second target is $44.00. Don't be surprised to see an oversold bounce at its rising 100-dma.

Annotated chart:

Entry on   January 29 at $49.45 
Change since picked:     - 0.02   			
Earnings Date          04/22/10 (unconfirmed)    
Average Daily Volume:       1.2 million 
Listed on   January 28, 2009    


Children's Place - PLCE - close: 31.80 change: -0.76 stop: 35.05

It looks like we're starting to make some progress on PLCE. Shares accelerated lower on Friday and finally broke through the bottom of its recent trading range (and its 40 and 30-dma). This looks like a new bearish entry point. Our target is $28.05. My time frame is about three weeks.

Annotated chart:

Entry on   January 23 at $32.41 
Change since picked:     - 0.61   			
Earnings Date          03/18/10 (unconfirmed)    
Average Daily Volume:       598 thousand
Listed on   January 23, 2009    


RTI Intl. - RTI - close: 24.75 change: +0.16 stop: 27.01 *new*

We don't have much time left. RTI is due to report earnings on Feb. 4th and we do not want to hold over the announcement. That only gives us a few days. I am lowering our stop loss to $27.01. You might want to tighten your stop loss even more. I'm consolidating our exit target to $23.00. No new positions at this time.

Annotated chart:

Entry on   January 25 at $25.83 (small positions)
Change since picked:     - 1.08   			
Earnings Date          02/04/10 (confirmed)    
Average Daily Volume:       720 thousand
Listed on   January 25, 2009    


SBA Communications - SBAC - close: 33.09 change: -0.60 stop: 35.55

SBAC sank to new relative lows with a 1.7% decline o Friday. I don't see any changes from our prior comments. Shares are breaking support as short-term momentum turns bearish. Our target is $30.15. More aggressive traders could aim for the 200-dma.

Annotated chart:

Entry on   January 28 at $33.45
Change since picked:     - 0.36   			
Earnings Date          02/25/10 (unconfirmed)    
Average Daily Volume:       1.5 million 
Listed on   January 26, 2009