Current Portfolio:


BULLISH Play Updates

Dr. Pepper Snapple Group - DPS - close 36.78 change +0.16 stop 32.49

Target(s): 36.80, 38.80
Key Support Areas: 35.75, 34.75, 32.70
Key Resistance Areas: 36.80, 37.45
Current Gain/Loss: N/A
Time Frame: Several weeks
New Positions: Waiting for trigger

Comments:
DPS peeked its head out to a new 52 week high today but I do not suggest chasing the stock at these levels, rather be patient for a pullback. DPS is a simple relative strength trade. Our entry target is just above the 20-day and 50-day SMA's which should provide good support if we get filled. After several weeks of slowly consolidating lower and sideways DPS broke to the upside and now we must wait until it turns back to retest the broken resistance which should now act as support, along with the aforementioned SMA's. We think DPS will pull back to the $35.00-34.50 zone before moving higher. Therefore I'm suggesting a trigger to open positions at $35.00 with a stop loss at $32.49. Please keep your position size small since the market has been so volatile.

Suggested Position: Long DPS stock if it trades near $35.00

Entry on: May xx
Earnings Date: More than 2 months (unconfirmed)
Average Daily Volume: 1.9 million
Listed on: May 8, 2010


IMAX Corporation - IMAX - close 18.94 change +0.73 stop 17.15 *NEW*

Target(s): 19.25, 20.95
Key Support Areas: 18.30, 17.15, 16.95, 50-day SMA
Key Resistance Areas: 19.25, 19.90, 21.30
Current Gain/Loss: +2.38%
Time Frame: 1 to 2 weeks
New Positions: Aggressive traders only on a pullback

Comments:
The bounce in IMAX continued today as the stock tacked on another +4.01%. The stock showed overall relative strength during the last hour of trading as IMAX was gaining when broader the market was declining. The stock is now approaching the double top I mentioned in last night's updates that was formed with the intraday highs of yesterday and last Thursday. The stock also closed just below its 20-day SMA which may act as resistance, especially if the market is under pressure tomorrow. I urge readers to be careful here with the stock's recent volatility and protect capital. I would like to raise our stop to $17.15 just in case IMAX reverses lower form here. If our target of $19.25 is hit our gain would be +4%. This would be a good area to lighten positions and tighten stops.

Current Position: Long IMAX stock at $18.50

Entry on May 5th
Earnings Date More than 2 months (unconfirmed)
Average Daily Volume: 1.9 million
Listed on May 4, 2010


Titanium Metals - TIE - close 16.36 change -0.24 stop 14.70

Target(s): 16.95, 18.00
Key Support Areas: 16.00, 15.50, 15.00
Key Resistance Areas: 16.00, 16.70, 17.25
Current Gain/Loss: Unopened
Time Frame: Several weeks
New Positions: Waiting for trigger

Comments:
I am looking for TIE to make a trip down to its 50-day SMA which is near our trigger for long positions at $15.60. I'll leave my comments from the new play that was released. TIE reported earnings on May 5th of 9 cents versus about 3 cents estimates. The stock reacted favorably even though the overall market plunged late last week. The stock has been consolidating in a bull flag for the past month and I suggest readers take advantage of any pullback in the stock to the $15.60 area. This is just above the 50-day SMA and the midpoint of the bull flag, which I think TIE will eventually break out of to the upside. This sets up a good risk reward trade: we are risking $0.90 to make $1.35. If triggered we our looking for the stock to trade back up $16.95, which would garner a nice +8.6% gain. Our second more aggressive target is $18.00 which is near highs from May 2008. Note, it may take several days to a week to get filled on this trade but I wanted to list the trade in case there is significant weakness in the coming days.

Suggested Position: Long TIE Stock if it trades down to the $15.60 area

Entry on xx at xx
Earnings Date 8/4/2010 (unconfirmed)
Average Daily Volume: 3.8 million
Listed on 5/10/10, 2010


BEARISH Play Updates

Sina Corporation - SINA - close 33.76 change -0.73 stop 36.80

Target(s): 33.25 (hit), 32.50, 30.50
Key Support Areas: 32.50, 30.50
Key Resistance Areas: 35.30, 36.00, 37.60
Current Gain/Loss: +1.32%
Time Frame: 1 week
New Positions: No

Comments:
SINA continues to look vulnerable and closed -2.12% today. The stock remains below broken support near $35.00 and is also below all of its major daily and weekly SMA's. The 50-day SMA crossed below the 200-day SMA which is a bearish signal that confirms our outlook for this stock. I expect the overhead resistance and SMA's to hold. Our stop has been moved down to $36.80 to protect capital if SINA somehow manages to continue higher from here. SINA is approaching earnings on May 17th so we plan to be out of the trade on or before this date. I urge readers to book gains or tighten stops as SINA approaches $32.50, which would represent a +7% gain. This is just above the low from Friday.

Current Position: Short SINA stock at $34.95

Option Traders:
Suggested Position: JUNE $35.00 PUT

Entry on May 4,2010 at $34.95
Earnings Date May 17, 2010 (unconfirmed)
Average Daily Volume: 1.1 million
Listed on May 1, 2010