Current Portfolio:


BULLISH Play Updates

Broadcom Corp. - BRCM - close: 32.61 change: -0.02 stop: 30.70

BRCM held up reasonably well. Shares did not see any serious intraday declines and closed virtually unchanged on the session. Volume was light, which is what I would expect the day before a Fed meeting. If the market corrects we could easily get stopped out. However, in the meantime the trend is up and the $32.00 level should be short-term support. More conservative traders may want to tighten their stops. I am suggesting readers consider opening new positions on a dip closer to $32.00. 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

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: 49.00 change: +0.92 stop: 44.95 *new*

CTXS continues to stand out. The stock posted another multi-year high with today's 1.9% gain. Shares are very short-term overbought and way overdue for a pull back. I am lowering our exit target to $49.65. I am also raising our stop loss to $44.95.

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


FWLT - Foster Wheeler $26.99 change -0.07 stop $24.85

FWLT rebounded from its intraday lows near the 21-dma but still closed in negative territory. If the bounces continues then I think FWLT has a decent shot at hitting $28.00. If it rolls over under the $27.30 level then we may want to exit early. I am not suggesting new positions at this time. Our target to exit is $28.00.

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

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

Entry on March 04 at $25.13
Earnings Date 05/06/10
Average Daily Volume: 4.5M
Listed on March 3rd, 2010


Inland Real Estate Corp. - IRC - close: 8.98 change: +0.08 stop: 8.49

IRC continues to show relative strength and set a new six-week high today. I don't see any changes from my weekend comments. REIT stocks have been showing relative strength, possibly due to investors chasing their dividend yield. Shares of IRC offer a pretty strong dividend in the 6-7% level. It seems like investors are losing their fear that the commercial real estate market is going to implode. I like IRC because the stock has built a significant base over the last several months. A breakout over resistance should be herald a major change in trend.

I am suggesting a trigger to buy IRC at $9.25. The April 2009 high was $9.24. The January 2010 high was $9.17. I'm going to give this trade a relatively wide stop loss at $8.49. If triggered at $9.25 our first target to take profits is $9.99. Our second target is $10.95. Investors could probably hold on to IRC for months and aim for the $12.50-13.00 zone. Our time frame is several weeks and I do mean several!

Use a trigger to open positions at $9.25

Suggested Position: IRC stock @ $9.25 (unopened)

Entry on March xx at $xx.xx
Earnings Date 05/06/10 (unconfirmed)
Average Daily Volume: 417 thousand
Listed on March 13th, 2010


Linear Tech. - LLTC - close: 27.39 change: -0.21 stop: 26.95

Shares of LLTC continue to pull back. I'd like to think it's coiling for a breakout higher but that could change if the market eventually corrects. Our plan is to buy LLTC on a breakout over resistance near $28.00 and its 50-dma. The trigger to open positions is 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

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: 45.12 change: -0.16 stop: 43.45

It could have been worse. Investors are concerned that China is going to raise bank reserve requirements again. This is an attempt by the Chinese government to slow down their economy. Anything that slows down China, slows down demand for commodities. NUE could have seen a steeper decline this morning. Fortunately traders bought the dip at $44.63 and the stock drifted sideways.

I don't see any changes from my weekend comments. More nimble traders may want to consider new positions on a move over $45.50 with a tight stop close to $44.00 and a target of $49.85.

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

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 $8.28, Change -0.30, stop $7.95

POWR suffered some profit taking after last week's big rally. That's not too surprising. The decline today following Friday's blow-off top looks like a possible bearish reversal. I'm suggesting more conservative traders exit early now. I am not suggesting new positions. 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

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


Palomar Medical Tech. - PMTI - close: 10.35 change: -0.03 stop: 9.74

Traders bought the dip this morning and PMTI looks poised to rally higher. There is no change from my weekend comments. The stock has been building a base in the $8.75-10.50 zone for months. I am suggesting we use a trigger at $10.55 to open bullish positions. We will use a relatively wide stop loss to give PMTI room to maneuver. If triggered our first target is $11.45. Our second target is $12.75 but PMTI will have to push past technical resistance at the 200-dma first. Our time frame is several weeks.

Use a trigger to buy PMTI at $10.55

Suggested Position: PMTI stock @ 10.55 (unopened)

Entry on March xx at $xx.xx
Earnings Date 04/29/10 (unconfirmed)
Average Daily Volume: 132 thousand
Listed on March 13th, 2010


ParkerVision Inc. - PRKR - close: 2.12 change: -0.22 stop: 1.99

It looks like someone wanted to get out of PRKR before they reported earnings. Shares gapped open lower at $2.32 and plunged 9.4% by the close. PRKR reported earnings after the closing bell and managed to beat estimates with a loss of 13 cents a share. I am not seeing any movement afterhours. The $2.00 level should be support and traders may want to buy a bounce. More aggressive traders could widen their stop loss just a little bit.

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

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: 29.89 change: +0.26 stop: 27.90

WFC displayed some relative strength. Traders bought the dip near $29.26 and shares rallied back into positive territory with a 0.8% gain. The stock looks poised to breakout over the $30.00 level soon. Our first target is $31.35. The inverse H&S pattern would suggest a target at $34 target.

Current Position: WFC stock @ 29.53

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: 9.56 change: +0.31 stop: 10.75

DRWI is trying to defend its stock price with a press release the company would buy up to 10% of the public float with a "normal course issuer bid" on the Toronto Stock Exchange. Seems like they're trying to protect their share price after a pull back from $14.00 to $9.00 last week. You'd think they would have been better off announcing this buy back when the stock was under $2.00 back in early 2009 and late 2008. Shares did manage to bounce on the news and combined with Friday's big intraday rebound this could be a bullish reversal in progress. I am not suggesting new positions at this time. Our target to exit is currently $8.85.

Current Position: (SHORT) DRWI @ $10.48

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: 5.58 change: +0.05 stop: 6.50

PALM isn't moving. The stock is merely drifting sideways and this trend may continue as investors wait for the company's earnings report on March 18th. It's dangerous to hold a position over earnings. I am suggesting we sell/close half our position before the closing bell on March 18th. You never know what the company might say in its conference call that might spark a short squeeze. 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

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


CLOSED BULLISH PLAYS

Ford Motor Co. - F - close: 13.40 change: +0.06 stop: 12.75

Target achieved. Over the weekend we raised the final exit target on Ford from $13.40 to $13.50. Shares gapped open at $13.46 and spiked to $13.63 before paring its gains. The trend is still up but I wouldn't want to chase it with the market looking vulnerable. I would keep Ford on your watch list. A bounce in the $12.50-12.00 zone might be another bullish entry point.

Closed Position: Ford stock @ $13.50
Entry price was $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