Editor's Note:

Semiconductors broke out today and PRKR out performed with a big rally. Current Portfolio:


BULLISH Play Updates

CITRIX Systems - CTXS - close: 46.62 change: +0.64 stop: 43.75

The rally continues for CTXS. The stock was upgraded to a "neutral" and given a $47 price target this morning. I am not putting much confidence in this new opinion but any "upgrade" probably doesn't hurt. Shares opened at $46.08 and rallied to $47.20 intraday. CTXS closed at new multi-year highs. I don't see any changes from my prior comments. Our immediate target is $49.90.

Current Position: CTXS stock @ 46.08

Entry on March 10 at $46.08
Earnings Date 04/29/10 (unconfirmed)
Average Daily Volume: 4.5 million
Listed on March 9th, 2010


Ford Motor Co. - F - close: 12.82 change: +0.02 stop: 12.45

Shares of Ford continue to drift sideways. I am very tempted to just exit early right here! However, until the market actually corrects the trend is up and F has a chance to breakout over resistance near $13.00. 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. More aggressive traders could aim for $14 or higher.

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


FWLT - Foster Wheeler $27.02, change +0.36, stop $24.35

The oversold bounce in FWLT continues with a 1.3% gain today. Just another dollar to go and FWLT will hit our target to exit at $28.00. I don't see any real changes from yesterday's update. 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


NUCOR - NUE - close: 45.03 change: +0.10 stop: 42.75

Shares of NUE continue to consolidate sideways around the $45.00 level. This isn't too surprising since the $45 level has been support and resistance in the past. Shares need to chew through any overhead resistance in this area. 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


POWR - Powersecure Intl $8.00, Change +0.02, stop $7.45

After yesterday's big gain the rally in POWR stalled at the $8.00 level. Tomorrow night is the big event. POWR is due to report earnings on March 11th after the closing bell. We're expecting a post-earnings rally. I want to remind readers that holding 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


ParkerVision Inc. - PRKR - close: 2.48 change: +0.28 stop: 1.99 *new*

Right on cue the SOX semiconductor index broke out over short-term resistance today. The SOX managed a 2.1% gain on the session. Shares of PRKR outperformed its brethren with a big 12.7% rally. The stock gapped open at $2.30 so we did not get the best entry point and our first target at $2.49 has already been hit since shares hit $2.50 this afternoon. I am raising our stop loss to $1.99 and would not open new positions at this time. Our second target is $2.95 but PRKR will face potential resistance at its 200-dma first.

Current Position: PRKR stock @ 2.30

chart:

Entry on March 10 at $ 2.30
Earnings Date 03/15/10 (unconfirmed)
Average Daily Volume: 114 thousand
Listed on March 9th, 2010


Raytheon Co - RTN - close: 57.10 change: +0.00 stop: 56.35

I am about ready to give up on RTN and cut it loose. Shares are going nowhere. The stock closed unchanged on the session and remains in a narrow range near $57.00. I am not suggesting new positions at this time.

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


BEARISH Play Updates

Dragonwave - DRWI - close: 10.20 change: +0.07 stop: 11.55

DRWI spiked higher this morning but the rally reversed under technical resistance at its 100-dma. This might be a new entry point but I would hesitate to launch positions with the market still in rally mode. 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: 5.71 change: +0.02 stop: 6.50

The oversold rebound is already struggling, which is a good sign for the bears. I would look for a failed rally near the $6.00 level or its 10-dma as a new entry point. 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