BULLISH Play Updates

CVR Energy - CVI - close: 8.38 change: +0.13 stop: 7.48

CVI managed a 1.5% bounce from support near $8.00 as the market continues to rebound. The trend in CVI is still positive but I remain cautious in spite of the market's oversold bounce. More conservative traders may want to raise their stops closer to $8.00. I am not suggesting new bullish positions at this time. We want to take profits at $9.90. Our second target is $11.95 (new target).

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: 38.34 change: +0.97 stop: 39.10 *new*

On a short-term basis this move in AAWW is growing more bullish. I've been warning readers to look for a bounce into the $38-39 zone and we got it. I'm adjusting our stop loss down to $39.10. More aggressive traders can keep their stop above $40.00. No new positions at this time. Let's wait and see if AAWW rolls over under $39. Our first target is $32.60.

Entry on   January 23 at $37.66 /gap open entry
Change since picked:     + 0.68   			
Earnings Date          02/24/10 (unconfirmed)    
Average Daily Volume:       291 thousand
Listed on   January 23, 2009    


American Tower Corp. - AMT - close: 43.03 change: -0.05 stop: 43.75

Hmm... shares of AMT underperformed the market on Tuesday. Yet traders bought the dip again at the rising 50-dma. More conservative traders may want to lower their stop loss just a bit toward $43.50ish. Short-term technicals are starting to turn bullish again. AMT never really broke its up trend. Our play was triggered on an intraday spike lower. We don't want to consider new bearish positions until AMT trades at $41.80 or lower.

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:     + 1.13   			
Earnings Date          02/24/10 (unconfirmed)    
Average Daily Volume:       2.8 million 
Listed on   January 26, 2009    


Ameritrade - AMTD - close: 17.64 change: -0.59 stop: 20.05

It was a rough day for AMTD. News that Fidelity was lowering their commissions to $7.99 a trade puts more pressure on the rest of the industry. AMTD produced a failed rally at the 200-dma this morning and reversed. I would use this move as a new entry point for bearish positions. Our first target is $16.10. Our second target is $15.05. More conservative traders may want to use a stop closer to $19.00. Our time frame is about six weeks.

Entry on   January 28 at $17.88 
Change since picked:     - 0.24   			
Earnings Date          04/21/10 (unconfirmed)    
Average Daily Volume:       6.1 million 
Listed on   January 28, 2009    


Best Buy - BBY - close: 37.28 change: +0.52 stop: 40.26

I've been expecting an oversold bounce in BBY for several days now. It looks like shares are finally starting to rebound. The 200-dma near $38.35 should be overhead resistance. Look for BBY to bounce for a day or two and roll over. 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.

Entry on   January 12 at $38.95 (small positions)
Change since picked:     - 1.67   			
Earnings Date          03/25/10 (unconfirmed)    
Average Daily Volume:       8.0 million      
Listed on   January 02, 2009    


Companhia Brasileira de Distribuicao - CBD - cls: 72.17 chg: +3.05 stop: 74.05

CBD is proving why I labeled this an aggressive, higher-risk trade. A bounce in the Brazilian market and the currency gave CBD a boost. Shares opened at $70.40 and closed with a 4.4% gain. The move is certainly short-term bullish with the close over the 50-dma but shares should have some resistance in the $72-74 zone. Wait for the bounce to roll over and we can launch new positions. We wanted 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.

Entry on   January 26 at $69.40 (very small positions)
Change since picked:     + 2.77 
Earnings Date          03/03/10 (unconfirmed)    
Average Daily Volume:       261 thousand
Listed on   January 23, 2009    


DSW Inc. - DSW - close: 26.23 change: +1.10 stop: 25.55

DSW has broken out higher from its recent trading range but shares have yet to break the trend of lower highs starting in December. We're still on the sidelines waiting for a breakdown. Instead of waiting for a decline to open positions we might decided to jump in on a failed rally near $27.00. At the moment our trigger is 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.

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: 50.48 change: +0.09 stop: 52.55

FFIV gapped open lower at $48.41 and traders bought the dip at $47.83. The intraday bounce lifted FFIV back above the $50 mark. Shares still look a little oversold and the bounce could carry it toward the $51-52 zone. Wait for the bounce to roll over before launching new positions. Our first target is $46.10. Our second target is $44.00.

Entry on   January 29 at $49.45 
Change since picked:     + 1.03   			
Earnings Date          04/22/10 (unconfirmed)    
Average Daily Volume:       1.2 million 
Listed on   January 28, 2009    


Life Technologies - LIFE - close: 50.50 change: +1.04 stop: 52.01

Traders bought the dip in LIFE this morning near its 10-dma. I would expect the bounce to carry it toward last week's high near $51.70. Wait for the bounce to fade before launching new positions. Our first target is $45.25, just above possible support at the 200-dma. We will cautiously set a second target at $41.00 but I suggest exit the majority of the position at $45.25.

Entry on   January 30 at $49.71 
Change since picked:     + 0.79   			
Earnings Date          01/28/10 (confirmed)    
Average Daily Volume:       2.6 million 
Listed on   January 30, 2009    


Children's Place - PLCE - close: 34.08 change: +1.26 stop: 35.05

PLCE continues to show volatility. Yesterday it broke down from its trading range only to reverse higher. Now it's above short-term resistance near $34.00. PLCE should have additional resistance near $35.00. Wait for the rally to fail and then launch positions. Our target is $28.05. My time frame is about three weeks.

Entry on   January 23 at $32.41 
Change since picked:     + 1.67   			
Earnings Date          03/18/10 (unconfirmed)    
Average Daily Volume:       598 thousand
Listed on   January 23, 2009    


SBA Communications - SBAC - close: 34.06 change: +0.00 stop: 35.55

Traders bought the intraday dip in SBAC but shares closed unchanged on the session. There is no change from my prior comments. Look for resistance near $35.00 and wait for the bounce to roll over before initiating new bearish positions. Our target is $30.15. More aggressive traders could aim for the 200-dma.

Entry on   January 28 at $33.45
Change since picked:     + 0.61   			
Earnings Date          02/25/10 (unconfirmed)    
Average Daily Volume:       1.5 million 
Listed on   January 26, 2009    


J.M.Smucker CO - SJM - close: 62.35 change: +1.23 stop: 61.51

The bounce continues and SJM looks ready to challenge its 52-week highs near $63 soon. If SJM closes above $63.00 we'll drop it as a bearish entry point. Right now our plan is to open shorts at $59.49. Our target is $55.15. More nimble traders could try and open positions in the $61.50-52.00 zone.

Entry on   January xx at $xx.xx <-- TRIGGER @ 59.49
Change since picked:     + 0.00   			
Earnings Date          02/24/10 (unconfirmed)    
Average Daily Volume:       698 thousand
Listed on   January 30, 2009    


Warner Chilcott - WCRX - close: 26.31 change: +0.85 stop: 29.31

The volatility continues in WCRX. Shares gapped open higher and closed with a 3.3% gain. Yet the rebound today did not trade outside of yesterday's range. I'm still bearish.

Wait for another failed rally in the $27-28 zone before considering new positions. We still have a second target at $22.25. FYI: I've adjusted our entry point to $26.65.

Entry on   January 30 at $26.65 /gap down entry point
Change since picked:     - 1.19
                             /1st target hit @ 25.00 (-6.1%)
Earnings Date          02/26/10 (unconfirmed)    
Average Daily Volume:       1.3 million 
Listed on   January 30, 2009    


CLOSED BEARISH PLAYS

RTI Intl. - RTI - close: 26.99 change: +1.38 stop: 27.01

Metal-related stocks and industrials were some of the best performers today. Shares of RTI outperformed the market with a 5.3% gain. Shares hit our stop loss at $27.01 right before the closing bell.

chart:

Entry on   January 25 at $25.83 (small positions)
Change since picked:     + 1.18 <--stopped @ 27.01 (+4.5%)
Earnings Date          02/04/10 (confirmed)    
Average Daily Volume:       720 thousand
Listed on   January 25, 2009