BULLISH Play Updates

Estee Lauder - EL - close: 55.67 change: +0.27 stop: 53.49

EL is still outperforming the market with another gain on Monday but shares saw their rally fail at last week's high. That's short-term bearish and a potential double top pattern. Readers may want to wait for another bounce from $54.00 before launching new bullish positions. We want to keep positions small. Our target is $59.50. Our time frame is three to four weeks. FYI: The Point & Figure chart is forecasting at $69 target.

Entry on  February 06 at $55.40 
Change since picked:     + 0.27   			
Earnings Date          04/27/10 (unconfirmed)    
Average Daily Volume:       2.5 million 
Listed on  February 06, 2009    


Illionois Tool Works - ITW - close: 42.25 change: -0.41 stop: 41.75

The lack of follow through on Friday's bounce is VERY bearish and more conservative traders will want to seriously consider an early exit right here! I am not suggesting new positions at this time. Hopefully ITW will rebound again from Friday's low near $42.00. Our first target is $44.85. Our second target is the $46.45 level. This is an aggressive trade. Keep positions small.

Entry on  February 06 at $42.66 
Change since picked:     - 0.41   			
Earnings Date          04/15/10 (unconfirmed)    
Average Daily Volume:       3.6 million 
Listed on  February 06, 2009    


Joy Global - JOYG - close: 44.51 change: -0.03 stop: 42.25

JOYG also looks very bearish with the lack of follow through on Friday's rebound. More conservative traders will want to seriously consider an early exit right here! I'm not suggesting new positions. The plan was to use small positions because this was an aggressive trade. Our target to exit is $49.75. The $50.00 level should be resistance. We might consider switching directions and going short on a failed rally near $50.

Entry on  February 06 at $44.54 (small positions)
Change since picked:     - 0.03   			
Earnings Date          02/24/10 (unconfirmed)    
Average Daily Volume:       4.1 million 
Listed on  February 06, 2009    


Patterson Companies - PDCO - close: 28.62 change: +0.04 stop: 27.95

The bounce from the 50-dma is already failing. PDCO has produced a lower high. Readers will want to honestly consider an early exit right here! I am not suggesting new bullish positions. We already have a tight stop at $27.95.

Our first target to take some money off the table is $30.90. Our second target is $32.45. We do not want to hold over the February 18th earnings report so PDCO may not reach our second target in time.

Entry on  February 02 at $29.16 /gap down entry
Change since picked:     - 0.54   			
Earnings Date          02/18/10 (unconfirmed)    
Average Daily Volume:       1.3 million 
Listed on  February 02, 2009    


BEARISH Play Updates

American Tower Corp. - AMT - close: 40.67 change: +0.57 stop: 42.75

AMT managed a decent bounce with a 1.4% gain. That was a lot better than the major indices. Shares remain oversold and could bounce toward resistance near $42.00. Wait for the bounce to stall or roll over before considering new positions. Our second target to exit 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:     - 1.23  
                          /1st target hit @ 40.10 (-4.2%)
Earnings Date          02/24/10 (unconfirmed)    
Average Daily Volume:       2.8 million 
Listed on   January 26, 2009    


Ameritrade - AMTD - close: 16.78 change: -0.18 stop: 18.60

Financial stocks continued to suffer on Monday. There wasn't much of a bounce in AMTD on Friday and there was no follow through today. I don't see any changes from my prior comments. Our first target is $16.10. Our second target is $15.05. Our time frame is about six weeks.

Entry on   January 28 at $17.88 
Change since picked:     - 1.10   			
Earnings Date          04/21/10 (unconfirmed)    
Average Daily Volume:       6.1 million 
Listed on   January 28, 2009    


Best Buy - BBY - close: 35.47 change: -0.35 stop: 38.75

The oversold bounce in BBY didn't get very far. Traders sold the rebound near $36.25. The stock looks ready to breakdown under the $35.00 level. Our second and final target is $32.25.

Entry on   January 12 at $38.95 (small positions)
Change since picked:     - 3.48
                           /1st target hit @ 35.25 (-9.4%)
Earnings Date          03/25/10 (unconfirmed)    
Average Daily Volume:       8.0 million      
Listed on   January 02, 2009    


Companhia Brasileira de Distribuicao - CBD - cls: 66.47 chg: +0.33 stop: 72.65

CBD produced a bounce on Monday but shares spent most of the session trading sideways. I would look for the oversold bounce to carry CBD toward $69-70 again before rolling over. 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:     - 2.93 
Earnings Date          03/03/10 (unconfirmed)    
Average Daily Volume:       261 thousand
Listed on   January 23, 2009    


DSW Inc. - DSW - close: 24.93 change: -0.07 stop: 25.55

More aggressive traders might want to consider bearish positions with DSW's breakdown under the $25.00 mark. I'm suggesting we stick to the plan. We're listing 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.

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: 48.52 change: +0.09 stop: 52.55

FFIV may have produced a gain on Monday but the action was bearish. The intraday rebound reversed under $50.00. This looks like a new entry point for shorts. Our first target is $46.10. Our second target is $44.00.

Entry on   January 29 at $49.45 
Change since picked:     - 0.93   			
Earnings Date          04/22/10 (unconfirmed)    
Average Daily Volume:       1.2 million 
Listed on   January 28, 2009    


GATX Corp. - GMT - close: 26.03 change: -0.40 stop: 27.65

GMT is back to testing support near the $26.00-25.75 zone. More conservative traders may want to wait for a new decline under $25.65 before initiating new positions.

Our first target is $23.15. Our second target is $21.00. It could take several weeks to get there.

Entry on  February 04 at $25.95 
Change since picked:     + 0.08   			
Earnings Date          04/22/10 (unconfirmed)    
Average Daily Volume:       467 thousand
Listed on  February 04, 2009    


Life Technologies - LIFE - close: 47.42 change: +0.06 stop: 52.01

The rebound in LIFE didn't get very far. Unfortunately I don't see any changes from my weekend comments. Look for a failed rally near $49-50 as a new entry point. Our target to take profits is at $45.55.

Entry on   January 30 at $49.71 
Change since picked:     - 2.29   			
Earnings Date          01/28/10 (confirmed)    
Average Daily Volume:       2.6 million 
Listed on   January 30, 2009    


SBA Communications - SBAC - close: 32.18 change: +0.39 stop: 35.05

The oversold bounce in SBAC produced a 1.2% gain on Monday. The bounce may not be over yet. Look for resistance near the 50-dma. Wait for the bounce to stall or reverse before launching new 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:     - 1.27   			
Earnings Date          02/25/10 (unconfirmed)    
Average Daily Volume:       1.5 million 
Listed on   January 26, 2009    


J.M.Smucker CO - SJM - close: 59.38 change: -0.13 stop: 61.51

The oversold bounce in SJM failed at the $60.00 level. This looks like a new bearish entry point for SJM. Our target is $55.15.

Entry on  February 05 at $59.49
Change since picked:     - 0.11   			
Earnings Date          02/24/10 (unconfirmed)    
Average Daily Volume:       698 thousand
Listed on   January 30, 2009    


Warner Chilcott - WCRX - close: 25.21 change: -0.32 stop: 28.05

WCRX is inching closer and closer to support near $25.00 and its 100-dma. The trend of lower highs suggest the stock will breakdown. WCRX has already hit our first target at $25.00. Our second target is $22.25.

Entry on   January 30 at $26.65 /gap down entry point
Change since picked:     - 1.44
                             /1st target hit @ 25.00 (-6.1%)
Earnings Date          02/26/10 (unconfirmed)    
Average Daily Volume:       1.3 million 
Listed on   January 30, 2009    


WIPRO Ltd - WIT - close: 19.33 change: -0.23 stop: 22.55

WIT is still sinking. Aggressive traders may want to consider bearish positions here. The stock is under support at $20.00 and its 100-dma. I think shares look a little oversold and would rather open positions on a bounce. Currently the plan is to use a trigger at $21.40 to open bearish trades. If we are triggered at $21.40 our first target is $18.05.

Entry on  February xx at $xx.xx <-- TRIGGER @ 21.40
Change since picked:     + 0.00   			
Earnings Date          04/22/10 (unconfirmed)    
Average Daily Volume:       934 thousand
Listed on  February 00, 2009