Editor's Note:

Semiconductor stocks are showing strength. LLTC hit our trigger to open positions. PMTI, a medical device stock, also hit our trigger for bullish positions. I'm suggesting an early exit out of DRWI and PRKR hit our stop loss.

Current Portfolio:


BULLISH Play Updates

Broadcom Corp. - BRCM - close: 33.52 change: +0.91 stop: 31.40

Semiconductor stocks really performed well. The SOX index surged to a new six-week high with today's 2.6% gain. BRCM performed even better with a 2.79% gain and a new two-year high. I am upping our stop loss to $31.40. 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: 48.95 change: -0.05 stop: 44.95

After several days of gains CTXS finally takes a day to rest. Shares didn't even see very much profit taking and closed down a nickel. CTXS is obviously very short-term overbought and due for a dip. More conservative traders may want to exit early now. Our target to exit is $49.65. No new positions at this time.

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 $27.84 change +0.85 stop $25.85 *new*

It looks like FWLT is going to hit our target soon. Shares outperformed the market with a 3.1% gain and hit an intraday high of $27.91. Our target to exit is $28.00. I am raising our stop loss to $25.85.

Current Position: FWLT @ $25.13

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: 9.17 change: +0.19 stop: 8.49

Shares of IRC produced a strong performance today with a 2.1% gain and a new closing multi-month high. The stock is quickly approaching significant resistance near the $9.20 level.

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: 28.49 change: +1.10 stop: 26.95

Strength in the semiconductor sector allowed LLTC to finally breakout past resistance near $28.00. Shares really performed well with a 4.0% gain and a new six-week high. LLTC hit our trigger to open bullish positions at $28.25. Our first target is $29.95. Our second target is $30.95.

Current Position: LLTC stock @ 28.25

If you trade options consider this:

Current Position: CALL APR 28.00 (LLTC 10D28.00) @ $1.00

chart:

Entry on March 16 at $28.25
Earnings Date 04/13/10 (unconfirmed)
Average Daily Volume: 3.9 million
Listed on March 11th, 2010


NUCOR - NUE - close: 46.07 change: +0.95 stop: 43.85 *new*

Weakness in the dollar gave most of the commodity-related sectors a boost. NUE managed to breakout from its recent sideways consolidation. I am raising our stop loss to $43.85. This move today could be used as a new entry point if you're aiming for our second target.

Our first target to take profits is at $46.75. Our second and final target is $49.85.

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 $8.32 Change +0.04 stop $7.95

Traders continue to buy the dips in POWR and did so today at $8.10. While I'm still concerned that the Friday-Monday action could be a bearish reversal as long as the trend is up we'll let it ride. 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: 10.51 change: +0.16 stop: 9.74

PMTI has broken out to new five-month highs and hit our trigger to open bullish positions at $10.55. After building a base over the last several months PMTI should be poised to move significantly higher. 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.

Current Position: PMTI stock @ 10.55

chart:

Entry on March 16 at $10.55
Earnings Date 04/29/10 (unconfirmed)
Average Daily Volume: 132 thousand
Listed on March 13th, 2010


Wells Fargo - WFC - close: 30.28 change: +0.39 stop: 27.90

Financial stocks were strong performers today with the banking indices up about 1.5%. WFC managed a 1.3% gain and closed above potential round-number resistance at the $30.00 level. This sector has been consolidating sideways for months and the recent strength could be the beginning of a new leg higher. Our target is $31.35. More aggressive traders could aim higher.

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

Bally Technologies - BYI - close: 38.74 change: +0.91 stop: 40.05

Uh-oh! Our bearish trade on BYI is not off to a very good start. The DJUSCA casino & gambling sector index was one of the market's best performers with a 4.45% rally. That's a tough environment for bears to play in. Shares of BYI gained 2.4% and erased yesterday's 90-cent decline. I am suggesting no new positions. Wait for a failed rally under $40.00 or a new decline under $37.50 as our next entry point.

Our first target to take profits is at $35.05 since the $35.00 level has been support in the past. Our second target is $32.00. More aggressive traders could aim for the $30 level.

FYI: This should be considered an aggressive trade. The most recent data available listed short interest at nearly 13% of the 52 million-share float. That is above average and if BYI makes a sudden move higher it raises the risk of a short squeeze.

Current Position: SHORT BYI stock @ 37.63

Entry on March 16 at $37.63
Earnings Date 05/06/10 (unconfirmed)
Average Daily Volume: 1.9 million
Listed on March 15th, 2010


PALM - Palm Inc - close: 5.39 change: -0.19 stop: 6.50

It was a tough day for PALM. The market rallied to new one-year highs and PALM sank to new one-year lows. The breakdown under short-term support near $5.40 is very bearish.

PALM is due to report earnings on Thursday, March 18th after the closing bell. 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. 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

ParkerVision Inc. - PRKR - close: 2.21 change: +0.09 stop: 1.99

Hmm...we knew PRKR was a volatile stock. That's why we labeled it an aggressive trade. However, today's volatility was tough to trade around. The stock opened at $2.10, dipped to $1.83, and then rallied back to $2.38 before finishing up 4.2%. That's a -13.6% decline followed by a 30% rally in the same session. Our stop loss was hit at $1.99 closing this trade. More aggressive traders may want to keep an eye on it since the semiconductor stocks were showing some relative strength today.

Closed Position: PRKR stock @ $1.99
Entry point was @ $2.30 (gap open)

chart:

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


CLOSED BEARISH PLAYS

Dragonwave - DRWI - close: 10.20 change: +0.64 stop: 10.75

Pack up your bags. It's time to go. I'm suggesting an early check out for the DRWI trade. I cautioned traders that the March 12th rebound looked like a possible bullish reversal. The follow through higher only confirms it. We want to exit now. You can keep DRWI on your watch list. A failed rally in the $11.50-12.00 zone could offer a new entry point.

Closed Position: (SHORT) DRWI @ $10.20
Entry was at $10.48

chart:

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