Editor's Note:
Tech giant CSCO sinks to new relative lows but some stocks did not participate in the market's widespread declines. I have dropped CVS as a bullish candidate. MSFT is nearing our entry point.

-James

Current Portfolio:


BULLISH Play Updates

Alcoa Inc - AA - close: 13.03 change: -0.37

Stop Loss: 12.45
Target(s): 14.95, 15.95
Current Option Gain/Loss: - 1.1%
Time Frame: 6 to 8 weeks
New Positions: Yes, but see below

Comments:
11/16: Our new play in AA has been opened but I'm not sure we want to be long any more. The debt worries in Europe is pushing the euro lower, which fueled a big gain for the U.S. dollar. A rising dollar is normally bad for commodities. Plus there is talk that China wants to put caps on commodity prices. The CRB Commodity index took a tumble.

Shares of AA gapped open lower at $13.18 and dipped toward its simple 40-dma before paring its losses. Our trigger was at $13.20 so the play was opened first thing this morning. Technically this looks like a new bullish entry point but given the market's decline today readers may want to take a wait and see approach first.

Current Position: Long AA stock @ 13.18

chart:

Entry on November 16 at $13.18
Earnings Date 01/10/11 (unconfirmed)
Average Daily Volume: 26.1 million
Listed on November 6th, 2010


Citigroup Inc - C - close 4.22 change -0.10

Stop Loss: 4.08
Target(s): 4.60, 4.75, 4.95
Current Option Gain/Loss: + 1.4%
Time Frame: 4 to 6 weeks
New Positions: NO

Comments:
11/16: Banks were easy targets for the bears with most banking stocks falling about -2%. Shares of C gave up -2.3% but found support near $4.20 as expected. I'd wait for a dip or bounce near $4.10 as a potential entry point.

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


Hansen Natural Corp. - HANS - close: 49.63 change: -0.02

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:
11/16: I'm somewhat impressed by HANS' relative strength. Shares are holding above the 20-dma and closed virtually unchanged on the session. I still don't want to open positions here. Look for a dip toward $48.00 and its rising 50-dma. 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 22.44 change -0.41

Stop Loss: 21.45
Target(s): 23.70, 24.75
Current Option Gain/Loss: - 0.49%
Time Frame: 6 to 8 weeks
New Positions: Yes, but see below

Comments:
11/16: Market wide declines have pulled KR back down toward support near $22.50. The close under this level is short-term bearish and I suspect KR may retest the $22 area and its 50-dma soon. While today's dip looks like a new entry point to open positions I'd rather wait for a dip (or bounce) near $22.00 instead.

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


Microsoft Corp. - MSFT - close: 25.81 change: -0.23

Stop Loss: 24.90
Target(s): 27.45, 29.00
Current Option Gain/Loss: unopened
Time Frame: 8 to 10 weeks
New Positions: Yes, see trigger

Comments:
11/16: MSFT almost hit our trigger today with a dip to $25.65. I am tempted to lower our trigger down to the 50-dma near $25.40 or even the $25.00 level. However, I'm suggesting we keep our trigger to buy MSFT at $25.55 and we'll just raise our stop loss to $24.90.

Suggested Position: buy MSFT stock @ 25.55

- or -

Buy the 2011 January $25.00 calls (symbol: MSFT1122A25) current ask $1.70

Entry on November xx at $xx.xx
Earnings Date 01/27/11 (unconfirmed)
Average Daily Volume: 68.4 million
Listed on November 15th, 2010


Onyx Pharmaceuticals - ONXX - close: 29.51 change: -0.28

Stop Loss: 26.45
Target(s): 32.00, 34.50
Current Gain/Loss: unopened
Time Frame: 8 to 10 weeks
New Positions: Yes, see trigger

Comments:
11/16: ONXX was downgraded to an "underperform" this morning but shares really didn't react that much to the headline. ONXX is holding up pretty well but if the market corrects much further I am expecting ONXX to participate and retest support near $28.00. We want to buy a dip at $28.60. Patient traders could wait for a dip closer to the $28.00 mark instead. If triggered our first target is $32.00.

Suggested Position: Buy ONXX stock @ 28.60

Entry on November xx at $xx.xx
Earnings Date 02/23/11 (unconfirmed)
Average Daily Volume: 1.1 million
Listed on November 13th, 2010


Tractor Supply Co. - TSCO - close: 40.46 change: -0.07

Stop Loss: 38.75
Target(s): 44.75
Current Option Gain/Loss: unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see trigger

Comments:
11/16: Profit taking in TSCO was very mild on Tuesday. The stock is inching closer to our preferred entry point at $40.10. Nimble traders could try and time an entry on a dip near the rising 50-dma (currently $39.15).

Buy-the-Dip Trigger @ $40.10

Suggested Position: Buy TSCO stock @ 40.50

Entry on November xx at $xx.xx
Earnings Date 01/27/11 (unconfirmed)
Average Daily Volume: 751 thousand
Listed on November 11th, 2010


SPDR Financial ETF - XLF - close 14.76 change -0.25

Stop Loss: 14.45
Target(s): 17.25
Current Option Gain/Loss: - 3.2%
Time Frame: 6 to 8 weeks
New Positions: Yes

Comments:
11/16: Financials were hit hard by profit taking with most banks falling about -2%. Shares of the XLF slipped -1.66%. Today's close under the simple 200-dma is bearish but the XLF managed to bounce back above its 50-dma. I have been warning readers to look for a dip near $14.70. Technically this looks like a new bullish entry point to buy this ETF but readers may want to take a wait and see approach.

Earlier Comments:
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: 34.27 change: -0.75

Stop Loss: 37.05
Target(s): 32.25, 30.25
Current Change: - 2.28%
Time Frame: 6 to 8 weeks
New Positions: Yes

Comments:
11/16: Tuesday's market declines were enough to finally push OFC out of its trading range and into new relative lows. Shares lost -2.1%. If you're looking for a new entry point watch for a bounce or failed rally under $35.00.

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


CLOSED BULLISH PLAYS

Cisco Systems - CSCO - close: 19.44 change: -0.52

Stop Loss: 19.75
Target(s): 22.25, 23.75
Current Gain/Loss: -3.0%
Time Frame: 6 to 8 weeks
New Positions: No

Comments:
11/16: Our CSCO trade didn't last long. I guess not everyone believes all the bad news has already been factored into the share price. The stock gapped open lower at $19.88 and quickly fell to new 52-week lows, hitting our stop loss at $19.75 and closing this trade. The breakdown in CSCO looks pretty bearish. The next level of support seems to be the $18.00-17.75 zone.

Closed Position: Long CSCO stock, Entry @ 20.37, exit @ 19.75 (-3.0%)
- or
Long the 2011 January $20.00 calls (symbol: CSCO1122A20) entry @ $1.24, exit near $0.85 (-31.4%)

chart:

Entry on November 15 at $20.37
Earnings Date 02/03/11 (unconfirmed)
Average Daily Volume: 72 million
Listed on November 13th, 2010


CVS Caremark Corp. - CVS - close: 29.65 change: -0.40

Stop Loss: 30.45
Target(s): 33.50, 34.90
Current Option Gain/Loss: unopened
Time Frame: 6 to 8 weeks
New Positions: no

Comments:
11/16: I'm giving up on CVS as a bullish candidate. Shares closed at new relative lows. The stock never hit our trigger to open positions.

Entry on November xx at $xx.xx *Never Opened*
Earnings Date 02/08/11 (unconfirmed)
Average Daily Volume: 10.1 million
Listed on November 8th, 2010