Editor's Note:
The lack of follow through on the market's widespread declines from Tuesday is encouraging but that doesn't mean the market is out of danger. MSFT hit our bullish buy-the-dip trigger this afternoon.

-James

Current Portfolio:


BULLISH Play Updates

Alcoa Inc - AA - close: 12.94 change: -0.09

Stop Loss: 12.45
Target(s): 14.95, 15.95
Current Option Gain/Loss: - 1.8%
Time Frame: 6 to 8 weeks
New Positions: Yes, but see below

Comments:
11/17: Wednesday was a quiet session for AA with the stock trading in side a 20-cent range. The rising 40-dma seems to be offering some support. We can buy AA on this dip but given the market's recent weakness I would prefer to launch new positions on a move over $13.20. More conservative traders may want to use a tighter stop loss.

Current Position: Long AA stock @ 13.18

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 4.19 change -0.03

Stop Loss: 4.08
Target(s): 4.60, 4.75, 4.95
Current Option Gain/Loss: + 0.7%
Time Frame: 4 to 6 weeks
New Positions: Yes

Comments:
11/17: Financial stocks struggled today and Citigroup dipped to $4.15 before paring its losses. This move looks like a new bullish entry point and I would launch new positions here with Citigroup bouncing near the bottom of its rising channel. (Or you could wait for a dip closer to $4.10 instead)

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: 49.84 change: +0.21

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:
11/17: HANS refuses to breakdown under technical support at its 40 and 50-dma (at least for now) yet at the same time HANS struggled with the $50.00 level today. I am still expecting a correction toward $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 22.81 change +0.37

Stop Loss: 21.45
Target(s): 23.70, 24.75
Current Option Gain/Loss: + 1.15%
Time Frame: 6 to 8 weeks
New Positions: Yes, but see below

Comments:
11/17: KR erased most of yesterday's losses with a +1.6% gain on Wednesday. I would still consider new positions in the $22.60-22.00 zone. Cautious traders may want to raise their stop closer to $22.00.

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: 25.57 change: -0.24

Stop Loss: 24.90
Target(s): 27.45, 29.00
Current Option Gain/Loss: + 0.0%
Time Frame: 8 to 10 weeks
New Positions: Yes

Comments:
11/17: Bingo! Our new trade on MSFT is open. Shares slipped to $25.55 this afternoon. The trigger to launch bullish positions was $25.55. If you missed it I would still consider positions now. Look for support near $25.50 and its 50-dma.

Current Position: Long MSFT stock @ 25.55

- or -

Buy the 2011 January $25.00 calls (symbol: MSFT1122A25) Entry @ $1.39

Annotated chart:

Entry on November 17 at $25.55
Earnings Date 01/27/11 (unconfirmed)
Average Daily Volume: 68.4 million
Listed on November 15th, 2010


Onyx Pharmaceuticals - ONXX - close: 29.63 change: +0.12

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:
11/17: There is no change from my prior comments on ONXX. 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: 40.72 change: +0.26

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:
11/17: Traders bought the dip in TSCO near $4.20 again. I am moving our trigger to launch bullish positions from $40.10 to $40.25. More conservative traders may want to place their trigger lower toward $39.30 since the 50-dma and the bottom of TSCO's bullish channel is near $39.20.

Buy-the-Dip Trigger @ $40.20

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 14.66 change -0.10

Stop Loss: 14.45
Target(s): 17.25
Current Option Gain/Loss: - 3.8%
Time Frame: 6 to 8 weeks
New Positions: Yes, see details below

Comments:
11/17: Financial stocks continue to underperform and the XLF lost another -0.6%. I would be tempted to buy the XLF on this dip since the $14.70-14.50 zone should offer some support. However, we might want to wait for a bounce first. Readers could choose to wait for a move back above its 200-dma near $14.85.

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: 34.32 change: +0.05

Stop Loss: 37.05
Target(s): 32.25, 30.25
Current Change: - 2.1%
Time Frame: 6 to 8 weeks
New Positions: Yes, see below

Comments:
11/17: OFC traded in a narrow range. I don't see any changes from my prior comments. 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