Current Portfolio:


BULLISH Play Updates

Ford Motor Co. - F - close: 12.93 change: -0.07 stop: 12.45

The sideways market was no help to Ford on Monday. Shares drifted in a narrow range. I wouldn't be surprised to see Ford dip and retest prior resistance near $12.00 as new support. Of course if that happens we'll get stopped out at $12.45 but nimble traders could jump in again on a bounce from $12.00. We're not suggesting new positions at this time.

Ford has already hit our first target at $12.50. Our second, longer-term target is $13.40.

Current Position: Ford stock @ $11.72

Entry on February 23 at $11.72 /gap higher entry
Earnings Date 04/22/10 (unconfirmed)
Average Daily Volume: 96 million
Listed on February 23, 2010


NUCOR - NUE - close: 44.84 change: +0.28 stop: 42.75

The last couple of session has been pretty encouraging. On Friday NUE managed to close above its 200-dma and shares continued to rally today with another 0.6% gain. The stock is almost past the late February high. I am not suggesting new positions at this time. Our first target is $46.75. Our second and final target is $49.85. Our time frame is several weeks.

Current Position: NUE stock @ $42.98

Entry on February 16 at $42.98 (small positions)/gap higher entry
Earnings Date 04/22/10 (unconfirmed)
Average Daily Volume: 6.1 million
Listed on February 16, 2009


Raytheon Co - RTN - close: 57.07 change: -0.04 stop: 56.35

The rally in defense stocks might be slowing down and it's definitely beginning to fade for RTN. Shares may need to dip and retest prior resistance near $55.00 as new support again. Of course if that happens we'll bet stopped out at $56.35. I am not suggesting new positions at this time. Our target to exit is $59.50. Our time frame is four to six weeks.

Current Position: RTN stock @ $55.85

Entry on February 25 at $55.85
Earnings Date 04/22/10 (unconfirmed)
Average Daily Volume: 2.9 million
Listed on February 20, 2009


POWR - Powersecure Intl $7.71, Change -0.02, stop $7.45

We have three days to go. POWR is due to report earnings after the closing bell on March 11th. Wall Street expects a profit of 4 cents a share. This is an aggressive bet that POWR will see a post-earnings rally on its results. Currently shares are testing overhead technical resistance at its 100-dma.

Current Position: POWR stock with a stop at $7.45

Option buyers:
Current Position: MARCH $7.50 CALL (POWR 10C0750) @ $0.55

Entry on March 03 at $ 7.64
Earnings Date 03/11/10 (confirmed)
Average Daily Volume: 78K
Listed on March 2nd, 2010


FWLT - Foster Wheeler $26.07, change +0.17, stop $24.35

Now it's my turn (James) to express a negative bias. I see nothing bullish about FWLT's stock. It has a pattern of lower highs and lower lows on top of breaking down from a five-month trading range. Now broken support near $28.00 should be heavy resistance. It's true that fundamentals for the business should be improving but long-term investors may get a better entry point near $20 not at current levels. I might change my mind if FWLT can close over $29.00 again (and its 50 and 200-dma). I'm not suggesting new bullish positions at this time. Jim did raise the stop this weekend to $24.35. His first upside target is $28.00.

(Nimble traders may want to consider bearish positions if we see a close under $25.75 and use a stop above today's high @ 26.51.)

Current Position: FWLT @ $25.13 with a stop at $23.75.

Option buyers:
Current Position: APR $26.00 CALL (FWLT 10D2600) @ $1.10

Entry on March 04 at $25.13
Earnings Date N/A
Average Daily Volume: 4.5M
Listed on March 3rd, 2010


BEARISH Play Updates

Dragonwave - DRWI - close: 9.91 change: -0.56 stop: 11.55

The sell-off continues for DRWI. The stock under performed with a 5.3% decline and a breakdown under the $10.00 level, which could have been round-number support. Volume was well above average, which is good news for the bears. Our first target to take profits is at $8.75.

Current Position: (SHORT) DRWI @ $10.48 with a stop at $11.55

Entry on March 8th at $10.48
Earnings Date April (unconfirmed)
Average Daily Volume: 1.2 million
Listed on March 6th, 2010


PALM - Palm Inc - close: 5.55 change: -0.16 stop: 6.50

PALM's meteoric rise in 2009 is quickly fading away. Shares under performed again on Monday with a 2.8% decline on rising volume. There appears to be no reason to buy PALM with the company trailing so far behind the competition. Eventually someone will claim the stock is undervalued but that may be a lot closer to $4.00 or the lows under $2.00. Our first target to take profits is at $4.00.

Current Position: (SHORT) PALM @ $ 5.80 with a stop at $6.50

Entry on March 8th at $ 5.80
Earnings Date April (unconfirmed)
Average Daily Volume: 25 million
Listed on March 6th, 2010