Editor's Note:

CTXS and Ford are in rally mode. POWR spiked on earnings. PRKR and PALM are both due to report earnings this week.

Current Portfolio:


BULLISH Play Updates

Broadcom Corp. - BRCM - close: 32.63 change: -0.43 stop: 30.70

Shares of BRCM ran into some profit taking after their strong midweek rally. The stock did manage to tag a new 52-week high Friday morning. I remain bullish on BRCM and the semiconductors but readers may want to wait for a dip closer to $32.00 before initiating positions. Broken resistance near $32.00 should offer some short-term support. Our first target is $34.95. Our second, more aggressive target is $37.40 with a time frame of several weeks.

Current Position: BRCM stock @ 32.66

Annotated chart:

Entry on March 11 at $32.66
Earnings Date 04/21/10 (unconfirmed)
Average Daily Volume: 8.0 million
Listed on March 10th, 2010


CITRIX Systems - CTXS - close: 48.08 change: +0.82 stop: 43.75

The surge in CTXS continues. After shares broke out to new multi-year highs this past week the rally kept going. The stock is up several days in a row so don't be surprised if CTXS takes a break and corrects back toward $46.00 before moving higher again. I'd prefer to open new positions on a dip. Our immediate target is $49.90.

Current Position: CTXS stock @ 46.08

Annotated chart:

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: 13.34 change: +0.43 stop: 12.75 *new*

Breakout! After nearly a week of consolidating sideways shares of Ford broke out higher past resistance near $13.00. This is a very short-term bullish development. The high on Friday was $13.37. More conservative traders may want to exit now. I am going to adjust our exit target just a little bit and move it from $13.40 to $13.50. More aggressive traders could easily aim for the $13.75 or $14.00 level. The newsletter will plan to exit at $13.50, which could happen on Monday. Please note our new stop loss at $12.75.

Current Position: Ford stock @ $11.72

Annotated chart:

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 $27.06, change +0.11, stop $24.85 *new*

FWLT's rebound stalled a bit on Friday but shares are up two weeks in a row. I remain skeptical of the rally here but the short-term trend remains higher. I am not suggesting new positions at this time. Please note our new stop loss at $24.85. The $28.00 level should be overhead resistance and happens to be our target to exit.

Current Position: FWLT @ $25.13 with a stop at $24.85.

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

Annotated chart:

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


Linear Tech. - LLTC - close: 27.60 change: -0.08 stop: 26.95

The rally in the semiconductors paused on Friday and LLTC slipped 0.2%. I don't see any changes from Thursday night comments so I'm reposting most of them here:

LLTC is still trading under resistance near $28.00 and its 50-dma but I suspect the stock is about to break out higher. Investors have been focusing on technology stocks to lead the market higher. Readers may want to keep positions small since the market is overbought. Fortunately, LLTC is not overbought and has been consolidating sideways under resistance near $28.00 for several days.

I am suggesting a trigger to open bullish positions at $28.25. If triggered our first target is $29.95. Our second target is $30.95.

Trigger to open positions: 28.25

Suggested Position: LLTC stock @ 28.25

If you trade options consider this:

Suggested Position: BUY CALL APR 28.00 (LLTC 10D28.00) current ask $0.80

Annotated chart:

Entry on March xx at $xx.xx
Earnings Date 04/13/10 (unconfirmed)
Average Daily Volume: 3.9 million
Listed on March 11th, 2010


NUCOR - NUE - close: 45.28 change: +0.27 stop: 43.45 *new*

Shares of NUE have spent about a week now consolidating sideways near the $45.00 level. I suspect the stock is ready to move higher again. More nimble traders may want to consider new positions on a move over $45.50 with a tight stop close to $44.00. While on the subject of stops I am moving our stop to $43.45. If NUE can make it past the $45-46 zone then it could be a quick run to the top of the trading range near $50.00.

Our first target to take profits is at $46.75. Our second and final target is $49.85. Our time frame is several weeks.

Current Position: NUE stock @ $42.98

Annotated chart:

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 $8.58, Change +0.23, stop $7.95 *new*

Post-earnings rally confirmed! Shares of POWR opened at $8.65 and spiked to $9.10 rising almost 9% intraday. I hope option traders took advantage of the move. The March $7.50 call hit $1.55 intraday on Friday and closed at $1.45. We only have five days left before March options expire so I am suggesting we close the option position right here! That's the good news. The bad news is that POWR's decline from the highs looks like a potential blow-off top and possible reversal. We won't know until Monday. More conservative traders may want to exit their stock positions now. I am raising our stop loss to $7.95. No new positions at this time. We'll set a final exit target of $9.25 on the stock.

Current Position: POWR stock with a stop at $7.45

Option buyers:
Closed Position: MARCH $7.50 CALL (POWR 10C0750) @ $1.45
Entry price on the option was $0.55

Annotated chart:

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: 2.34 change: -0.11 stop: 1.99

PRKR is still seeing some profit taking after its early rally last week. Monday could be interesting. The company is due to report earnings on March 15th. Unfortunately I don't know whether the results come out before the market opens or after the closing bell. I consider holding a stock over earnings a dangerous proposition since so many variables can tank the stock price. If PRKR doesn't report in the morning then aggressive traders may want to take positions before the close in hopes of a post-earnings rally. PRKR has already hit our first target at $2.49. Our second target is $2.95 but PRKR will face potential resistance at its 200-dma first.

Current Position: PRKR stock @ 2.30

Annotated chart:

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


Wells Fargo - WFC - close: 29.63 change: -0.13 stop: 27.90

The BKX and BIX banking indices broke out to new 52-week highs this past week. While WFC did not I expect shares to perform well if the sector rally continues. We can still open positions at current levels but if you're patient we might get a better entry point in the $29.00-28.50 region. Our first target is $31.35. The inverse H&S pattern would suggest at $34 target.

Current Position: WFC stock @ 29.53

Annotated chart:

Entry on March 11 at $29.53
Earnings Date 04/22/10 (unconfirmed)
Average Daily Volume: 38.1 million
Listed on March 10th, 2010


BEARISH Play Updates

Dragonwave - DRWI - close: 9.25 change: -0.14 stop: 10.75 *new*

I sure hope that was PremierInvestor readers covering their shorts at the lows on Friday. DRWI continues to under perform the market and the stock slipped to $8.77 intraday before paring its losses. Our target to exit was $8.75. I am now adjusting our target to $8.85 just in case DRWI retests Friday's low and rebounds again. If shares bounce higher from current levels then Friday will look like a short-term bullish reversal, especially with the exponential 200-dma so close. More conservative traders may want to just exit early now. I am lowering our stop loss to $10.75.

Current Position: (SHORT) DRWI @ $10.48

Annotated chart:

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: 5.53 change: -0.04 stop: 6.50

PALM continues to drift lower. Investors have no reason to buy it as the company gets pummeled by the competition (AAPL and RIMM). However, the stock could see some volatility this week. The company is due to report earnings on March 18th after the closing bell. We may not want to hold positions over the earnings report and we'll make that decision before Thursday. Technically a drop under $5.40 would be very bearish and reinforce the downtrend. Our first target to take profits is at $4.00.

Current Position: (SHORT) PALM @ $ 5.80

Annotated chart:

Entry on March 8th at $ 5.80
Earnings Date 03/18/10 (confirmed)
Average Daily Volume: 25 million
Listed on March 6th, 2010