Editor's Note:

It was a mixed session for us with a few new 52-week highs and a few stocks seeing some much overdue profit taking.

Current Portfolio:


BULLISH Play Updates

Broadcom Corp. - BRCM - close: 33.99 change: +0.38 stop: 31.40

Shares of BRCM continue to perform well. The stock displayed relative strength on Thursday with a 1.1% gain and another new 52-week high at $34.27. Another strong session tomorrow and BRCM could hit our first target. I am not suggesting new positions at current levels. 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: 48.06 change: +0.63 stop: 44.95

There was no follow through lower on yesterday's sell-off, which is good news for CTXS. Traders bought the dip this morning and CTXS spent most of the session in the $48.50-48.00 zone. If CTXS does continue to pull back we can look for support near $45.00. I am not suggesting new bullish positions at this time. Our target to exit is $49.65.

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


Goldcorp - GG - close: 39.29 change: -0.51 stop: 38.49

The situation with Greece is not healing and the country may be forced to turn to the IMF for help. That sent the euro currency lower, which pushed the dollar higher. A stronger dollar normally weighs on gold futures. Today gold managed to close in positive territory but gold mining stocks did not! GG lost 1.2%. That's okay. We're still on the sidelines. The plan is to open bullish positions when GG hits $41.10. If triggered our target is $44.90.

Trigger to open positions @ 41.10

Suggested Position: GG stock @ 41.10(unopened)

Option traders may want to consider the following:

BUY CALL APRIL $42 (GG 10D42.00) current ask $0.85

Entry on March xx at $xx.xx
Earnings Date 05/06/10 (unconfirmed)
Average Daily Volume: 7.5 million
Listed on March 16th, 2010


Inland Real Estate Corp. - IRC - close: 9.39 change: +0.08 stop: 8.49

Shares of IRC continue to impress with another show of strength. The stock hit new 52-week highs today. Shares are also growing overbought. IRC will see a pull back eventually. You can launch positions here but a better entry point would be near the $9.00 level.

The 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!

Current Position: IRC stock @ $9.25

Entry on March 17 at $ 9.25
Earnings Date 05/06/10 (unconfirmed)
Average Daily Volume: 417 thousand
Listed on March 13th, 2010


Linear Tech. - LLTC - close: 28.71 change: -0.09 stop: 26.95

LLTC is busy digesting its recent gains. The stock dipped to $28.46 before paring its losses. If you're looking for a new entry point I would prefer to buy a bounce from the $28.00 level. Our first target is $29.95. Our second target is $30.95.

Current Position: LLTC stock @ 28.25

Option Traders:

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

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: 44.74 change: -0.37 stop: 43.85

Our NUE play is at risk! The stock continued to sink (-0.8%) following yesterday's downgrade. NUE is now testing technical support near the 200-dma. The $44.00 level should also offer support but if the market corrects then I would expect NUE to stop us out. No new positions at this time.

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 $8.10 Change -0.22 stop $7.95

Watch out! The trading action in POWR is growing more bearish. Yesterday's failed rally move with today's decline is a bearish combination. If we didn't have support near $8.00 I would suggest an early exit immediately. More conservative traders may want to exit now anyway. I am not suggesting new positions at this time. Any market weakness tomorrow could be enough to send POWR lower. Our final target to exit the stock is $9.25.

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: 10.69 change: +0.18 stop: 9.74

Traders bought the early morning dip in PMTI and shares eventually rallied to new 52-week highs. The 1.7% gain is a definite show of relative strength. I remain bullish with the stock above $10.00. More patient traders may want to wait and buy a dip. 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

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: 30.29 change: -0.26 stop: 28.75

WFC suffered some profit taking today. Banks in general were weaker. I don't see any changes from my prior comments. The trend is up but the sector is arguably short-term overbought and due for a deeper pull back. 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: 38.48 change: -0.60 stop: 40.05

The bounce may be fading in BYI but we're still at risk. Shares could be forming an inverse H&S pattern. I would rather see BYI trade under $37.50 before launching new bearish positions. If that happens I would probably drop the stop loss toward $39.55.

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


Corrections Corp. of America - CXW - close: 20.38 chg: -0.29 stop: 21.26

CXW continues to correct after yesterday's failed rally pattern. The stock certainly under performed the market today with a 1.4% decline. More aggressive traders may want to launch positions early. I am suggesting readers use a trigger at $19.90. If triggered our target is $18.00. The low in February 2010 was $17.50.

Trigger to open bearish positions at $19.90

Suggested Position: SHORT CXW stock @ 19.90 (unopened)

Entry on March xx at $xx.xx
Earnings Date 05/06/10 (unconfirmed)
Average Daily Volume: 1.1 million
Listed on March 17th, 2010


PALM - Palm Inc - close: 5.65 change: +0.28 stop: 6.50

PALM saw some action today. Probably a combination of bullish traders speculating on a surprise or bears covering their shorts for the same reason. PALM managed a 5.2% bounce into the closing bell. Our plan was to sell half our position at the close to limit our risk to the earnings report.

Wall Street was expecting a loss of 42 cents. PALM reported a loss of 61 cents a share. Revenues were better than expected at $366 million. It looks like investors are not happy with the company's conference call either. In after hours the stock spiked just above $6.00 but is currently trading down around $4.85. Our target to exit for a profit is $4.00.

Current Position: (SHORT) PALM @ $ 5.80

covered half on 03/18/10 at $5.65

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