BULLISH Play Updates

DSW Inc. - DSW - close: 27.69 change: +0.43 stop: 25.75

Fortunately we did not have to wait very long for DSW to hit our trigger. The stock rallied this morning and hit our trigger to buy it at $27.60 closing at new highs. Our first target is $29.95. Remember, keep your positions small to limit risk.

chart:

Entry on  February 16 at $27.60 (small positions)
Change since picked:     + 0.09   			
Earnings Date          03/24/10 (unconfirmed)    
Average Daily Volume:       416 thousand
Listed on  February 13, 2009    


Estee Lauder - EL - close: 58.36 change: +1.70 stop: 54.75 *new*

EL continues to show relative strength and set new all-time highs with today's 3% rally. I am adjusting our target to exit from $59.50 to $59.75. We're moving the stop loss to $54.75. More aggressive traders may want to aim higher.

Entry on  February 06 at $55.40 
Change since picked:     + 2.96   			
Earnings Date          04/27/10 (unconfirmed)    
Average Daily Volume:       2.5 million 
Listed on  February 06, 2009    


Illionois Tool Works - ITW - close: 44.69 change: +1.05 stop: 41.95

ITW has rallied past very short-term resistance at $44.00 with today's 2.4% gain. The high today was $44.78 almost enough to hit our target. Our first target is only $44.85. Our second target is $46.45.

Entry on  February 06 at $42.66 (small positions)
Change since picked:     + 2.03   			
Earnings Date          04/15/10 (unconfirmed)    
Average Daily Volume:       3.6 million 
Listed on  February 06, 2009    


Joy Global - JOYG - close: 49.17 change: +1.89 stop: 44.95 *new*

Euro strength produced dollar weakness and that fueled a rally in commodities. Commodity-related stocks like JOYG surged on Tuesday. Shares of JOYG hit an intraday high of $49.19. I am raising our stop loss to $44.95. Our target to exit is $49.90. More aggressive traders may want to aim higher.

Entry on  February 06 at $44.54 (small positions)
Change since picked:     + 4.63   			
Earnings Date          02/24/10 (unconfirmed)    
Average Daily Volume:       4.1 million 
Listed on  February 06, 2009    


ROSS Stores - ROST - close: 46.61 change: +0.18 stop: 44.85

Retail stocks were showing strength today. Unfortunately ROST was not one of them. Shares did inch higher but they under performed their peers and the broader market, which might be a warning sign. Readers may want to wait for ROST to trade over its early February high of $47.00 before initiating positions. Our target to exit is $49.75.

Entry on  February 13 at $46.43 (small positions)
Change since picked:     + 0.18   			
Earnings Date          03/18/10 (unconfirmed)    
Average Daily Volume:       2.4 million 
Listed on  February 13, 2009    


BEARISH Play Updates

Ameritrade - AMTD - close: 17.33 change: +0.31 stop: 18.60

The stronger than expected earnings out of Barclays this morning fueled a widespread rally for the financials. Even AMTD participated and the stock gained 1.8%. I am suggesting readers wait for a failed rally near the $18.00 level before considering new positions. 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:     - 0.55   			
Earnings Date          04/21/10 (unconfirmed)    
Average Daily Volume:       6.1 million 
Listed on   January 28, 2009    


Best Buy - BBY - close: 36.43 change: +0.67 stop: 36.51

Over the weekend I was concerned that BBY had found too much support at $35.00 so we lowered the stop loss to $36.51. Shares rallied 1.8% but the high today was only $36.45. I think odds are really good we will get stopped out tomorrow. The risk now is will BBY gap open above our stop loss. No new positions at this time. BBY has already hit our first target at $35.25. Our second and final target is $32.25.

Entry on   January 12 at $38.95 (small positions)
Change since picked:     - 2.52
                           /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: 70.78 chg: +1.81 stop: 72.65

The widespread rally across much of the globe lifted CBD with a 2.6% gain and a close back above the $70.00 level. Shares look poised to challenge resistance near $72.00 and its 50-dma near $72.40. Wait for the rebound to fail or reverse before considering new 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:     + 1.38 
Earnings Date          03/03/10 (unconfirmed)    
Average Daily Volume:       261 thousand
Listed on   January 23, 2009    


Rockwell Collins - COL - close: 54.13 change: +1.07 stop: 55.26

Today's 2% gain is a short-term bullish breakout from COL's recent consolidation. Yet shares are still under resistance at $55.00 and its 50-dma. We were expecting this bounce. Our plan is to open bearish positions at $54.50. If triggered at $54.50 our first target is $50.25. More aggressive traders may want to aim for the 200-dma currently near $48.00. Our time frame is less than three weeks.

Entry on  February xx at $xx.xx <-- TRIGGER @ 54.50
Change since picked:     + 0.00   			
Earnings Date          04/28/10 (unconfirmed)    
Average Daily Volume:       834 thousand
Listed on  February 09, 2009    


FISERV Inc. - FISV - close: 46.95 change: +0.60 stop: 47.26

Today's rally pushed FISV above technical support at its 200-dma. If shares close above their 50-dma we'll drop them as a bearish candidate. We're still on the sidelines waiting for FISV to breakdown. The plan is to open bearish positions with a trigger at $44.70. If triggered our first target is $40.15.

Entry on  February xx at $xx.xx <-- TRIGGER @ 44.70
Change since picked:     + 0.00   			
Earnings Date          04/29/10 (unconfirmed)    
Average Daily Volume:       1.4 million  
Listed on  February 00, 2009    


GATX Corp. - GMT - close: 26.63 change: +0.22 stop: 27.65

The rebound in GMT was anemic compared to the rest of the market. I am reiterating my comments from the weekend. More conservative traders may want to lower their stop or just exit early since I'm expecting a bounce toward resistance at the 200-dma. You could exit now and jump back in on a failed rally. I'm not suggesting new positions at this time.

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:     + 0.66   			
Earnings Date          04/22/10 (unconfirmed)    
Average Daily Volume:       467 thousand
Listed on  February 04, 2009    


Life Technologies - LIFE - close: 48.92 change: +0.76 stop: 52.01

There should be no surprises here. I warned readers to expect a bounce. LIFE should find resistance near $49.50-50.00. More conservative traders may want to lower their stops since $50 should be new resistance. Wait for the rally to reverse before launching new positions. Our target to take profits is at $45.55. More aggressive traders could aim lower but the 200-dma is probably support.

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    


SBA Communications - SBAC - close: 34.33 change: +0.38 stop: 35.05

Wow! SBAC extends the bounce for yet another day. The stock gained 1.1% to close over resistance near $34.00 and its 50-dma but just barely. Shares are now arguably short-term overbought. I'm expecting this bounce to fail. Wait for the reversal to launch 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:     + 0.88   			
Earnings Date          02/25/10 (unconfirmed)    
Average Daily Volume:       1.5 million 
Listed on   January 26, 2009    


J.M.Smucker CO - SJM - close: 59.85 change: +0.83 stop: 61.51

SJM was not immune to the market-wide rebound and shares gained 1.4%. The rally stalled at resistance near $60.00. Readers may want to wait for another failed rally under $61.00 before initiating positions. Our target to exit is $55.15 although I am starting to think we may have to exit early to avoid holding over earnings.

Entry on  February 05 at $59.49
Change since picked:     + 0.36   			
Earnings Date          02/24/10 (unconfirmed)    
Average Daily Volume:       698 thousand
Listed on   January 30, 2009    


Warner Chilcott - WCRX - close: 26.07 change: +0.18 stop: 28.11

Over the weekend we adjusted our strategy to exit the previous bearish position and plan to open a new one on a bounce/failed rally near resistance. Right now the plan is to open bearish positions at $27.75.

-2nd Trade-
Entry on February xx @ xx.xx <-- trigger @ 27.75 
Change since picked:  - 0.00 

-1st Trade - Closed 02/13/10 -
Entry on   January 30 at $26.65 /gap down entry point
Change since picked:     - 0.76 <-- exit early @ 25.89 (-2.8%)
                             /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: 21.20 change: +0.67 stop: 22.15

This is it. We were expecting this oversold bounce in WIT. Shares hit $21.24 this afternoon. Our plan is to launch bearish positions if WIT hits $21.35. If triggered at $21.35 our first target is $18.05.

Entry on  February xx at $xx.xx <-- TRIGGER @ 21.35
Change since picked:     + 0.00   			
Earnings Date          04/22/10 (unconfirmed)    
Average Daily Volume:       934 thousand
Listed on  February 00, 2009