Current Portfolio:


BULLISH Play Updates

Ford Motor Co. - F - close: 12.80 change: -0.13 stop: 12.45

More conservative traders may want to consider an early exit out of our Ford trade. The stock has failed four days in a row near the $13.00 level. As I said yesterday odds are growing that F will dip back toward $12.00, which should be support and stop us out at $12.45 in the process. 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: 44.93 change: +0.09 stop: 42.75

There was a rumor circulating today that NUE was going to buy CMC. If NUE does make a bid for the company normally shares of the acquirer (NUE) would go down on the news and the acquired (CMC) would go up. In a situation like that NUE could gap down below our stop loss. At this time there is really no way to determine if there is any truth to the rumor or the time table.

Traders bought the dip in NUE near $44.00 this morning and the stock managed a new relative high intraday. 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: 57.10 change: +0.03 stop: 56.35

Unfortunately shares of RTN have been going nowhere the past several days. More conservative traders may want to exit early right now. I am not suggesting new positions and if there is any correction we'll probably be stopped out at $56.35. I think odds are good RTN could dip toward $55.00, which should be short-term support. Our target to exit is $59.50.

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 $7.98, Change +0.27, stop $7.45

All right, now we're getting somewhere! POWR outperformed the market with a 3.5% rally and a breakout above the 100-dma. We have two days left if you want to open positions ahead of the earnings report due out March 11th after the closing bell. We're expecting a post-earnings rally. I want to remind readers that hold over an earnings report is a very risky trade.

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 $26.66, change +0.59, stop $24.35

Hmm... I think FWLT was insulted I thought its chart looked bearish yesterday. The stock gapped open lower this morning and then sprinted higher from its morning low of $25.77. Shares tagged the 30-dma before paring their gains a little but FWLT still closed with a 2.2% gain. Maybe I'm wrong but the $28.00 level still looks like significant resistance so it's no coincidence that our first target is $28.00. I am reluctant to suggest new positions at this time.

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: 10.13 change: +0.22 stop: 11.55

There was no follow through on yesterday's decline. Shares of DRWI are short-term oversold and could easily bounce back toward $11.00 or $11.50 before rolling over again. Readers may want to wait for a new failed rally under the 10-dma before launching new bearish positions. 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: 5.69 change: +0.14 stop: 6.50

PALM also managed a minor oversold bounce with a 2.5% gain. Shares of PALM are also oversold and if the stock does see a bounce the first line of resistance is going to be the 10-dma currently near $6.20. 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