Editor's Note:
We had a couple of targets get hit thanks to the market's widespread gains. Both KR and WRLD hit our first target. I've also updated a couple of stop losses tonight.

-James

Current Portfolio:


BULLISH Play Updates

Alcoa Inc - AA - close: 13.57 change: +0.45

Stop Loss: 12.45
Target(s): 14.95, 15.95
Current Option Gain/Loss: + 2.9%
Time Frame: 6 to 8 weeks
New Positions: Yes, but see below

Comments:
12/01 update: Strong economic data and a strong market fueled a +3.3% rally in shares of AA. The stock has clearly broke the short-term trend of lower highs. If you're still looking for an entry point I would watch for a dip toward the $13.30-13.20 zone.

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: 55.46 change: +0.46

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:
12/01 update: Wednesday ended up being a quiet day for ALK. The XAL airline index rallied +1.7% but shares of ALK only gained +0.8%. This stock spend the day trading under resistance at the $56.00 level. If ALK can't breakout on a day like today what will it take? Readers may want to wait for a rally or a close over $56.00 before initiating positions. 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: 50.44 change: +0.19

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:
12/01 update: ANF spiked to a new two-year high on an intraday basis but shares faded from their highs. Several of the nation's major retailers will release their November same-store sales numbers tomorrow morning. I want to wait and see these results and see the market's reaction before we consider changing our entry point on ANF. For the moment we're still looking for a dip to $46.10.

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 4.30 change +0.10

Stop Loss: 4.08
Target(s): 4.60, 4.75, 4.95
Current Option Gain/Loss: + 3.3%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
12/01 update: It was a strong day for Citigroup. Shares gapped open higher and closed with a +2.3% gain near its highs for the session. If you're looking for a new entry point I would consider dips into the $4.25-4.20 zone.

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: 41.65 change: -0.42

Stop Loss: 36.75
Target(s): 44.95, 49.00
Current Option Gain/Loss: + 3.5%
Time Frame: 10 to 12 weeks
New Positions: Yes, see below

Comments:
12/01 update: After yesterday's surge higher CBD ran into a little bit of profit taking. I don't see any changes from my previous comments. If you're looking for an entry point wait for a dip into the $40.50-40.00 zone. 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: 48.51 change: +0.37

Stop Loss: 46.85
Target(s): 51.50
Current Option Gain/Loss: + 0.5%
Time Frame: 6 to 8 weeks
New Positions: Yes, see below

Comments:
12/01 update: GPC actually underperformed the market today. Shares spiked higher at the open but then retraced its gains. Investors bought the dip midday but GPC only posted a +0.7% gain for the session. Overall nothing has changed. I would still consider new positions here at current levels. Readers may want to buy the call options to leverage this play. 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: 52.51 change: -0.71

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:
12/01 update: I was surprised by the action in HANS today. Shares gapped open this morning and then immediately turned south. I couldn't find any specific news to account for this relative weakness. The stock slipped to $52.14 at its lowest. Currently we have a trigger to buy a dip at $52.00. Cautious traders may want to wait for a dip closer to $51.00 given today's performance.

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 23.86 change +0.31

Stop Loss: 22.45
Target(s): 23.70, 24.75
Current Option Gain/Loss: + 5.8%
Time Frame: 8 to 10 weeks
New Positions: No

Comments:
12/01 update: Target exceeded. Before the bell KR was upgraded to a "buy". Shares opened at $23.81. Our first target to take profits was at $23.70. I am raising our stop loss to $22.45. KR is due to report earnings tomorrow. If they disappoint this stock could gap open lower.

Our second and final target is $24.75.

Current Position: Long KR stock @ 22.55

12/01 New stop @ 22.45
12/01 Target exceeded, gap higher @ 23.81 (+5.5%)

chart:

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: 47.70 change: +2.30

Stop Loss: 42.75
Target(s): 48.50, 52.50
Current Option Gain/Loss: + 5.4%
Time Frame: 8 to 10 weeks
New Positions: Yes, see below

Comments:
12/01 update: The SOX semiconductor sector soared to new 52-week highs today. That helped LRCX rallied more than +5%. The stock actually hit $48.33 intraday. I am raising our stop loss to $43.80. If you're looking for an entry point I'd wait for a dip toward $45.40.

Current Position: Long LRCX stock @ 45.25
- or -
Current Position: Long the 2011 January $45 calls (LRCX1122A45) Entry @ $2.85

Entry on November 30 at $45.25
Earnings Date 01/27/11 (unconfirmed)
Average Daily Volume: 4.5 million
Listed on November 18th, 2010


Microsoft Corp. - MSFT - close: 26.04 change: +0.78

Stop Loss: 24.70
Target(s): 27.45, 29.00
Current Option Gain/Loss: + 1.9%
Time Frame: 8 to 10 weeks
New Positions: Yes

Comments:
12/01 update: It was a big day for tech stocks and MSFT helped lead the way. Shares rallied more than 3% and closed above some key moving averages. If you were waiting for a breakout over $25.50 or $26.00 you got it. Personally, I would rather launch new positions on a dip in the $25.75-25.50 zone.
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: 30.18 change: +0.73

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:
12/01 update: ONXX managed to rally back toward the top of its trading range but failed to breakout over resistance near $30.50. If shares can breakout then we might re-consider our entry point. Otherwise, I may end up dropping ONXX as a candidate to make room for something else that is moving. Currently our trigger is at $28.60.

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: 36.47 change: +0.99

Stop Loss: 33.45
Target(s): 36.50, 39.00
Current Option Gain/Loss: unopened
Time Frame: 10 to 12 weeks
New Positions: Yes, see trigger

Comments:
12/01 update: There is no change from my Tuesday night comments. SNE is running away without us. The stock did not pull back enough to hit our entry point. I am moving our trigger to buy the dip from $34.00 to $34.50. We'll move the stop loss to $33.45.

Trigger @ $34.50

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

Entry on December 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: 43.79 change: +1.32

Stop Loss: 39.90
Target(s): 47.50
Current Option Gain/Loss: unopened
Time Frame: 8 to 10 weeks
New Positions: Yes, see trigger

Comments:
12/01 update: TSCO rallied to new all-time highs after the company raised their earnings guidance. Aggressive traders may want to go ahead and buy this breakout over resistance near $42.50. I am adjusting our buy-the-dip trigger from $40.75 to $42.75. We'll inch up the stop loss to $39.90.

Buy-the-Dip Trigger @ $42.75 <-- new trigger

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

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


Wells Fargo & Co - WFC - close: 27.53 change: +0.32

Stop Loss: 26.40
Target(s): 29.25, 31.90
Current Option Gain/Loss: + 2.4%
Time Frame: 10 to 12 weeks
New Positions: Yes, see below

Comments:
12/01 update: WFC spiked higher this morning. The stock eventually retraced its gains but WFC was rebounding higher again into the closing bell. I don't see any changes from my previous comments. I remain bullish on this stock and would still consider new positions at current levels.

Current Position: Long WFC stock @ $26.88

- or -

Long the 2011 January $27.50 call (WFC1122A27.5) Entry @ $1.16

Entry on November 30 at $26.88
Earnings Date 01/19/11 (unconfirmed)
Average Daily Volume: 32.7 million
Listed on November 29th, 2010


World Acceptance Corp. - WRLD - close: 47.00 change: +2.94

Stop Loss: 41.90
Target(s): 47.25, 49.75
Current Option Gain/Loss: + 6.2%
Time Frame: 6 to 8 weeks
New Positions: Yes, see below

Comments:
12/01 update: Target achieved. WRLD has a high amount of short interest (39% last time it was reported) the stock appeared to see a little short squeeze today. WRLD surged to $47.43 intraday and our first target to take profits was hit at $47.25. I am adjusting our stop loss to $41.90. Our second target remains $49.75 but more aggressive traders may want to aim higher. If you're looking for a new entry point I would wait for a dip into the $45-44 zone. FYI: The option was trading with a bid around $3.50 when WRLD hit our target.

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

12/01 First Target Hit @ $47.25 (+6.7%), Option @ $3.50 (+45.8%)
12/01 New stop @ 41.90

chart:

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: 34.35 change: +0.44

Stop Loss: 36.15
Target(s): 32.25, 30.25
Current Change: - 2.0%
Time Frame: 6 to 8 weeks
New Positions: No

Comments:
12/01 update: Warning! The bullish move in the market today does not bode well for our short position. While OFC is still under performing we may want to consider an early exit. I want to play very defensively here so I'm moving the stop loss to $35.07 (our entry point). No new positions at this time.

Current Position: Short OFC stock @ 35.07

12/01 10 New stop @ 35.07
11/27/10 New stop @ 36.15

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