Editor's Note:
Investors are still in a buy the dip mood and stocks recovered from their morning lows on Thursday. I don't see a lot of changes from yesterday.

-James

Current Portfolio:


BULLISH Play Updates

Alcoa Inc - AA - close: 13.81 change: -0.07

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:
11/11: Shares of AA were downgraded this morning, which helped explain the stock's gap open lower. Traders bought the dip near short-term support at $13.60. Yet AA seems to be developing a very short-term trend of lower highs. Speaking of very short-term if you look hard enough AA could be forming a little bearish head-and-shoulders patter, which would suggest a pull back toward the $13.00 area. More conservative traders may want to wait for an entry point to buy the dip near $13.00. I'm suggesting we keep our entry point 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 4.36 change -0.06

Stop Loss: 4.08
Target(s): 4.60, 4.75, 4.95
Current Option Gain/Loss: + 4.8%
Time Frame: 4 to 6 weeks
New Positions: NO

Comments:
11/11: Banks seemed to stumble on Thursday. Maybe it was concern over the G20 meeting or maybe it's concern over the struggling European economies and their debt issues. Overall I don't see any changes from our prior comments. The $4.30 level is short-term support. A break down below that should see support near $4.20. 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: 30.86 change: -0.27

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:
11/11: It was a very quiet day for CVS with the stock trading in a 40-cent range. Look for short-term support at the 50-dma. 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: 49.85 change: +0.27

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:
11/11: HANS gapped open lower this morning but traders bought the dip at the stock's rising 40-dma. I would not be fooled by this rebound. The $50.00 level should be new resistance (albeit short-term resistance). Let's wait for a pull back closer to $48.00. 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 22.65 change -0.01

Stop Loss: 21.45
Target(s): 23.70
Current Option Gain/Loss: + 0.44%
Time Frame: 6 to 8 weeks
New Positions: Yes

Comments:
11/11: KR was virtually unchanged on the session. The stock does have a short-term bearish trend of lower highs and lower lows but it's pretty mild so far. I would still consider new bullish positions on dips in the $22.50-22.00 zone. 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: 29.27 change: -0.50

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:
11/11: The NYX tagged another new relative low this morning and then traded sideways in a very narrow range. I'm about ready to drop the NYX as a candidate and make room for something else. If we don't see some sort of bounce tomorrow we'll remove this stock as a potential play in the weekend letter. Our trigger remains at $31.25.

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


SLM Corp. - SLM - close: 12.17 change: -0.22

Stop Loss: 11.75
Target(s): 13.75
Current Option Gain/Loss: - 0.65%
Time Frame: 6 to 8 weeks
New Positions: Yes

Comments:
11/11: Financials were a little weak this morning and SLM gapped open at $12.25 (our entry point). Traders bought the dip near $12.10 multiple times today but I would focus on the $12.00 level as stronger support. I would still open new bullish positions at current levels. Our first target is $13.75.

Current Position: Long SLM stock @ $12.25
- or -
Long the 2011 January $12.50 calls (symbol:SLM1122A12.5) Entry @ $0.63

Entry on November 11 at $12.25
Earnings Date 01/20/11 (unconfirmed)
Average Daily Volume: 3.3 million
Listed on November 10th, 2010


SPDR Financial ETF - XLF - close 15.19 change -0.15

Stop Loss: 14.45
Target(s): 17.25
Current Option Gain/Loss: - 0.39%
Time Frame: 6 to 8 weeks
New Positions: Yes

Comments:
11/11: XLF gave back most of yesterday's gains with a very forgettable session. I would still consider new positions here or you could wait for a dip closer to $15.00.

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: 35.63 change: -0.08

Stop Loss: 37.05
Target(s): 32.25, 30.25
Current Gain/Loss: - 1.60%
Time Frame: 6 to 8 weeks
New Positions: Yes

Comments:
11/11: There was not much happening in OFC today. The stock traded in a 50-cent range on low volume. 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