Editor's Note:
After yesterday's underperformance the banking stocks were some of today's best performers.

-James

Current Portfolio:


BULLISH Play Updates

Alcoa Inc - AA - close: 13.68 change: +0.13

Stop Loss: 12.45
Target(s): 14.95, 15.95
Current Option Gain/Loss: unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see trigger

Comments:
11/10: The commodity space held up reasonably well given the U.S. dollar's fourth advance in a row. Traders bought the dip in AA near $13.60. I'm willing to wait for a better decline and with the dollar's rise it could happen soon. We have a trigger to launch bullish positions at $13.30.

Suggested Position: Buy AA stock @ 13.30

Entry on November xx at $xx.xx
Earnings Date 01/10/11 (unconfirmed)
Average Daily Volume: 26.1 million
Listed on November 6th, 2010


Citigroup Inc - C - close 4.42 change +0.12

Stop Loss: 4.08
Target(s): 4.60, 4.75, 4.95
Current Option Gain/Loss: + 6.2%
Time Frame: 4 to 6 weeks
New Positions: NO

Comments:
11/10: Yesterday the banks were some of the worst performers. Today they were some of the best performing stocks. Citigroup bounced from support near $4.30 and posted a +2.79% gain. I'm not suggesting new positions at this time.

Current Position: Long C stock, entry was at $4.16
Options Traders: Long December $4.00 CALL

Entry on October 27, 2010
Earnings Date 01/19/11 (unconfirmed)
Average Daily Volume: 523 million
Listed on October 25, 2010


CVS Caremark Corp. - CVS - close: 31.13 change: +0.10

Stop Loss: 30.45
Target(s): 33.50, 34.90
Current Option Gain/Loss: unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see trigger

Comments:
11/10: CVS is still consolidating sideways. There is no change from my prior comments. Nimble traders could look for a dip to the 50-dma or the $30.00 level as alternative entry points. I'm still waiting for a move higher to $31.80. CVS will probably have additional resistance at its 200-dma (currently near $32.40) but our first target is $33.50. Our second, longer-term target is $34.90.

BULLISH TRIGGER @ 31.80

Suggested Position: buy the stock @ 31.80
- or
BUY the 2011 January $33.00 call (symbol: CVS1122A33)

Entry on November xx at $xx.xx
Earnings Date 02/08/11 (unconfirmed)
Average Daily Volume: 10.1 million
Listed on November 8th, 2010


Hansen Natural Corp. - HANS - close: 49.58 change: -0.47

Stop Loss: 47.25
Target(s): 51.75
Current Option Gain/Loss: unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see trigger

Comments:
11/10: The correction continues in HANS. The stock lost -0.9% and while it did see a late day rebound it wasn't very convincing. There is no change from my previous comments. We want to use a trigger at $48.25 to launch bullish positions. Keep your positions small to limit your risk.

Earlier Comments:
Use a trigger at $48.25 to buy HANS or buy calls. If triggered we'll use a stop loss at $47.25.

Suggested Position: BUY the stock at $48.25

- or -

BUY the December $50.00 calls (on a dip at $48.25)

Entry on November xx
Earnings Date 11/04/10 (confirmed)
Average Daily Volume: 4.5 million
Listed on October 16, 2010


Kroger Co. - KR - close 22.66 change +0.05

Stop Loss: 21.45
Target(s): 23.70
Current Option Gain/Loss: unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see trigger

Comments:
11/10: If you missed our entry point yesterday KR provided another entry point today. Shares dipped to $21.54 and bounced. I would still consider new positions now but more conservative traders may want to use a tighter stop loss closer to $22.00.

Earlier Comments:
Stop loss at $21.45. Our target is $23.70 near the April highs. We'll set a secondary, longer-term target at $24.75.

Current Position: Long KR stock @ 22.55

Entry on November 9th @ 22.55
Earnings Date 12/8/2010 (unconfirmed)
Average Daily Volume: 6 million
Listed on November 3, 2010


NYSE Euronext - NYX - close: 29.77 change: +0.39

Stop Loss: 29.40
Target(s): 34.50
Current Option Gain/Loss: unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see trigger

Comments:
11/10: I remain cautious on NYX but I'm not ready to give up yet. There is no change from my prior comments.

Earlier Comments:
We want to use a trigger at $31.25 to buy NYX (or calls) with an initial target of $34.50. More conservative traders could wait for a close over $31.25 instead of an intraday move above this level.

Trigger @ 31.25

Suggested Position: Buy NYX stock @ 31.25

Entry on November xx at $xx.xx
Earnings Date 02/09/11 (unconfirmed)
Average Daily Volume: 2.5 million
Listed on November 6th, 2010


SPDR Financial ETF - XLF - close 15.34 change +0.17

Stop Loss: 14.45
Target(s): 17.25
Current Option Gain/Loss: + 0.59%
Time Frame: 6 to 8 weeks
New Positions: Yes

Comments:
11/10: Traders were in a buy-the-dip mood in financials. After yesterday's decline the banks reversed with widespread gains. If you missed yesterday's entry point we got another entry this morning. Actually, since there was no follow through lower on the market's bearish reversal on Tuesday, I would be tempted to go ahead and buy the XLF (or calls) right here.

Earlier Comments:
Stop loss at $14.45. Our first target is $17.25. You might want to buy call options instead of the ETF because the XLF doesn't move very fast (I'm thinking the 2011 January calls).

Current Position: Long the XLF (etf) @ 15.25

- or -

Options Traders: Long the 2011 January $15.00 call, entry @ $0.85

Entry on November 9th @ 15.25
Earnings Date N/A (unconfirmed)
Average Daily Volume: 83 million
Listed on November 4, 2010


BEARISH Play Updates

Corporate Office Properties - OFC - close: 35.71 change: +0.77

Stop Loss: 37.05
Target(s): 32.25, 30.25
Current Gain/Loss: -0.0%
Time Frame: 6 to 8 weeks
New Positions: Yes

Comments:
11/10: It remains a very tough market for bearish plays. The lack of follow through on yesterday's market reversal could be a warning here. Although I will point out that OFC has no been participating in the market's strength lately. I would look for a failed rally near the $36.00-36.50 zone as a new bearish entry point.

FYI: The P&F chart is currently bearish with a $29 target.

Current Position: Short OFC stock @ 35.07

Entry on November 10 at $35.07
Earnings Date 02/09/11 (unconfirmed)
Average Daily Volume: 1.0 million
Listed on November 9th, 2010