Editor's Note:
The bailout for Ireland actually produced a rebound in the financials. The banking sector was showing some strength for the first time in a long time. Let's hope it's not a one-day phenomenon. Just about everything saw an afternoon rebound.

-James

Current Portfolio:


BULLISH Play Updates

Alcoa Inc - AA - close: 13.29 change: +0.12

Stop Loss: 12.45
Target(s): 14.95, 15.95
Current Option Gain/Loss: + 0.8%
Time Frame: 6 to 8 weeks
New Positions: Yes, but see below

Comments:
11/29 update: Commodity related stocks were initially weak on dollar strength but the sector turned around. AA managed to break the bearish trend of lower highs. If you missed buying the dip at $13.00 this morning I would still consider buying this bounce. More conservative traders could wait for a move or close above $13.40 instead.

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


Alaska Air Group - ALK - close: 55.50 change: -0.42

Stop Loss: 59.50
Target(s): 51.90
Current Option Gain/Loss: + 1.0%
Time Frame: 8 to 9 weeks
New Positions: Yes, see below

Comments:
11/29 update: Airline stocks are still holding up pretty well. ALK is still drifting sideways in the $54-56 zone. There is no change from my weekend comments. Depending on your style of trading you could wait for a dip back toward the $55-54 zone as your next entry point or wait for a breakout to new highs (over 56.50). Our first target is $59.50. FYI: The Point & Figure chart is bullish with a $79 target.

Current Position: Long ALK stock @ $54.91

- or -

Long the 2011 January $60 calls (symbol: ALK1122A60) entry @ $1.60

Entry on November 22 at $54.91
Earnings Date 01/27/11 (unconfirmed)
Average Daily Volume: 331 thousand
Listed on November 20th, 2010


Abercrombie & Fitch - ANF - close: 48.76 change: +0.30

Stop Loss: 43.95
Target(s): 49.95
Current Option Gain/Loss: unopened
Time Frame: 8 to 10 weeks
New Positions: Yes, see trigger

Comments:
11/29 update: Traders couldn't decide whether or not they wanted to buy or sell the retailers following Black Friday. Shares of ANF spiked toward its highs early this morning but eventually gave back most of its gains. I still don't want to chase it here. I'm suggesting readers look for a pull back into the $46.10-45.00 zone.

Trigger to buy ANF @ $46.10

Suggested Position: Buy ANF stock @ $46.10
- or -
Buy the 2011 January $50 call (symbol: ANF1122A50)

Entry on November xx at $xx.xx
Earnings Date 02/15/11 (unconfirmed)
Average Daily Volume: 3.1 million
Listed on November 17th, 2010


Citigroup Inc - C - close 4.15 change +0.04

Stop Loss: 4.08
Target(s): 4.60, 4.75, 4.95
Current Option Gain/Loss: - 0.2%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
11/29 update: I am honestly surprised that Citigroup did not hit our stop loss this morning. The bailout for Ireland was positive for financials but the group still looked weak first thing this morning. Fortunately the banking sector seemed to turn around midday and the banking indices closed in positive territory. C actually posted a +0.9% gain. This stock is on the verge of breaking the bearish trend of lower highs we've seen over the last three weeks. Readers may want to use a move over $4.20 as a new 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


Companhia Brasileira de Distribuicao - CBD - close: 40.86 change: -0.15

Stop Loss: 36.75
Target(s): 44.95, 49.00
Current Option Gain/Loss: + 1.5%
Time Frame: 10 to 12 weeks
New Positions: Yes, see below

Comments:
11/29 update: Traders bought the dip near $40.00 this morning and CBD rallied back toward the unchanged level. I have been suggesting readers buy a dip in the $40-39 zone and don't see any changes from my weekend comments. More conservative traders may want to consider a stop loss closer to $38.00. We have a wide stop because CBD can be so volatile. Bear in mind this is a higher-risk trade.

Current Position: Long CBD stock @ $40.25

Entry on November 23 at $40.25
Earnings Date 03/02/11 (unconfirmed)
Average Daily Volume: 608 thousand
Listed on November 20th, 2010


Genuine Parts Co. - GPC - close: 48.32 change: -0.21

Stop Loss: 46.85
Target(s): 51.50
Current Option Gain/Loss: + 0.0%
Time Frame: 6 to 8 weeks
New Positions: Yes

Comments:
11/29 update: GPC held up pretty well. This stock is a new play from the weekend and shares opened at $48.24. GPC bounced from technical support at its 20 and 30-dma near $47.70. If you missed buying the dip this morning I would still consider bullish positions on this afternoon bounce. Readers may want to buy the call options to leverage this move. FYI: The point & figure chart is bullish with a $52 target.

Current Position: Long GPC stock @ $48.24
- or -
Long the 2011 January $50.00 calls (GPC1122A50) Entry @ $0.40

Entry on November 29 at $48.24
Earnings Date 02/16/11 (unconfirmed)
Average Daily Volume: 763 thousand
Listed on November 27th, 2010


Hansen Natural Corp. - HANS - close: 53.13 change: -1.26

Stop Loss: 48.95
Target(s): 54.90, 57.45
Current Option Gain/Loss: unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see trigger

Comments:
11/29 update: The widespread market weakness finally sparked a little bit of profit taking in HANS. The stock gave up -2.3%. Yet that still isn't enough. We want to see a dip to $52.00. Fortunately, HANS did not see much of an afternoon bounce to the pull back may not be over yet.

Trigger @ 52.00

Suggested Position: BUY the stock

- or -

BUY the January $55.00 calls (symbol:HANS1122A55)

Entry on November xx
Earnings Date 11/04/10 (confirmed)
Average Daily Volume: 750 thousand
Listed on October 16, 2010


Kroger Co. - KR - close 23.08 change +0.01

Stop Loss: 21.95
Target(s): 23.70, 24.75
Current Option Gain/Loss: + 2.3%
Time Frame: 8 to 10 weeks
New Positions: No

Comments:
11/29 update: KR did not show that much volatility today and the stock closed virtually unchanged on the session. There is no change from my weekend comments.

11/27 update: This could be an exciting week for KR. The company is due to report earnings on Thursday, December 2nd before the opening bell. Holding over earnings is a high-risk endeavor. More conservative traders will want to exit the day before. I hesitate to launch new positions ahead of the earnings report but aggressive traders may want to buy dips in the $22.75-22.50 zone.

Current Position: Long KR stock @ 22.55

Entry on November 9th @ 22.55
Earnings Date 12/2/2010 (confirmed)
Average Daily Volume: 6 million
Listed on November 3, 2010


Lam Research - LRCX - close: 46.15 change: -0.46

Stop Loss: 42.75
Target(s): 48.50, 52.50
Current Option Gain/Loss: unopened
Time Frame: 8 to 10 weeks
New Positions: Yes, see trigger

Comments:
11/29 update: Volume remains light but the 2.1 million shares was the highest LRCX has seen in days. Shares slipped to $45.54 near its 30-dma before bouncing. I'm still holding out for a dip toward $45.00 with a trigger to launch positions at $45.25. More conservative traders could wait for a pull back closer to $44.00 instead.

Trigger @ $45.25

Suggested Position: Buy LRCX stock @ 45.25
- or -
Suggested Position: Buy the 2011 January $45 calls (LRCX1122A45)

Entry on November xx at $xx.xx
Earnings Date 01/27/11 (unconfirmed)
Average Daily Volume: 4.5 million
Listed on November 18th, 2010


Microsoft Corp. - MSFT - close: 25.31 change: +0.06

Stop Loss: 24.70
Target(s): 27.45, 29.00
Current Option Gain/Loss: - 0.9%
Time Frame: 8 to 10 weeks
New Positions: Yes

Comments:
11/29 update: Whew! It was a close one this morning. MSFT dipped to $24.93 intraday but managed to bounce back into positive territory. This pull back toward the $25.00 level should be a great entry point for bullish positions so I want to widen our stop loss a little bit to $24.70. If you aren't ready to buy this bounce yet consider waiting for a rally past $25.50 or $26.10.
FYI: We may need to adjust our time frame and focus on three or four months for MSFT to pay off. If you're buying calls, keep that in mind.

Current Position: Long MSFT stock @ 25.55

- or -

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

11/29/10 New stop @ 24.70

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: 29.47 change: -0.08

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:
11/29 update: Wow! ONXX almost hit our trigger today. That's the most excitement this stock has seen in weeks. Shares dipped to $28.80 before rebounding. I don't see any changes from my weekend comments. We have at trigger to launch bullish positions at $28.60. More conservative traders could wait for a dip closer to $28.00, which should be decent support.

Trigger @ $28.60

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


Sony Corp. - SNE - close: 35.00 change: +0.42

Stop Loss: 32.90
Target(s): 35.75, 39.00
Current Option Gain/Loss: unopened
Time Frame: 10 to 12 weeks
New Positions: Yes, see trigger

Comments:
11/29 update: SNE displayed some relative strength on Monday. Aggressive traders may want to consider buying this bounce. I'm suggesting we wait for the dip to $34.00. If triggered our first target is $35.75 with a stop loss t $32.90.

Trigger @ $34.00

Suggested Position: Buy SNE stock
- or -
Buy the 2011 APRIL $35 calls (SNE1116D35) current ask $2.45

Entry on November xx at $xx.xx
Earnings Date 02/03/11 (unconfirmed)
Average Daily Volume: 888 thousand
Listed on November 23rd, 2010


Tractor Supply Co. - TSCO - close: 42.00 change: -0.29

Stop Loss: 39.45
Target(s): 44.95
Current Option Gain/Loss: unopened
Time Frame: 8 to 10 weeks
New Positions: Yes, see trigger

Comments:
11/29 update: There is no change from my weekend comments. TSCO only dipped to $41.26 this morning. Our trigger to launch bullish positions is at $40.75.

Buy-the-Dip Trigger @ $40.75

Suggested Position: Buy TSCO stock
- or -
Buy the 2011 January $45 calls (symbol:TSCO1122A45)

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


World Acceptance Corp. - WRLD - close: 44.84 change: -0.61

Stop Loss: 40.75
Target(s): 47.25, 49.75
Current Option Gain/Loss: + 1.3%
Time Frame: 6 to 8 weeks
New Positions: Yes, see below

Comments:
11/29 update: Our new trade on WRLD has been opened. The widespread weakness this morning was enough to push WRLD to $44.00. Our trigger to launch bullish positions was $44.25. If you missed the dip this morning I would still consider new positions now or on a dip in the $44-43 zone. Our first target is $47.25.

Current Position: Long WRLD stock @ 44.25
- or -
Long the 2011 January $45 calls (WRLD1122A45) Entry @ $2.40

Entry on November 29 at $44.25
Earnings Date 01/27/11 (unconfirmed)
Average Daily Volume: 122 thousand
Listed on November 27th, 2010


BEARISH Play Updates

Corporate Office Properties - OFC - close: 33.90 change: -0.25

Stop Loss: 36.15
Target(s): 32.25, 30.25
Current Change: - 3.3%
Time Frame: 6 to 8 weeks
New Positions: No

Comments:
11/29 update: OFC continues to underperform. Shares lost 0.7% today. I don't see any changes from my weekend comments.

11/27/10 New stop @ 36.15

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

Overseas Shipholding Group - OSG - close: 35.42 change: -0.09

Stop Loss: 34.75
Target(s): 39.90, 42.00
Current Option Gain/Loss: - 4.7%
Time Frame: 4 to 6 weeks
New Positions: No

Comments:
11/29 update: We knew OSG was a volatile stock and I labeled this play a higher-risk trade but shares were just a little too volatile for us this morning. The stock broke down under its 30, 40, 50 and 100-dma with a dip to $34.39. Our stop loss was hit at $34.75 closing this trade. Unfortunately, OSG managed to bounce back and recoup almost all of its losses. Aggressive traders may want to reconsider buying this afternoon bounce.

Closed Position: Long OSG stock @ $36.50 , exit @ 34.75 (-4.79%)

- or -

Long the 2011 January $40 calls (OSG1122A40) Entry @ $0.78, Exit @ $0.45 (-42.3%)

chart:

Entry on November 23 at $36.50
Earnings Date 03/01/11 (unconfirmed)
Average Daily Volume: 600 thousand
Listed on November 22nd, 2010