Editor's Note:
The VIX may not be moving much but I'm seeing an increase in volatility. A few stocks were getting whipsawed. One was TRMB which hit our stop loss. On a move positive note DIS broke out past resistance and hit our trigger to open bullish positions.

-James

Current Portfolio:


BULLISH Play Updates

Automatic Data Processing - ADP - close: 46.88 change: -0.17

Stop Loss: 45.45
Target(s): 49.75, 52.50
Current Gain/Loss: + 0.2%
Time Frame: 10 to 12 weeks
New Positions: see below

Comments:
01/04 update: There wasn't much follow through on yesterday's rally higher. I would expect ADP to retest the $46.50 level before moving higher (which would help fill the gap). More conservative traders could ait for a new close over resistance near $47.00 before initiating positions. Keep your position size small to limit your risk.
FYI: The Point & Figure chart for ADP is forecasting a bullish price target of $66.00.

Current Position: Long ADP stock @ $46.75

- or -

Long the 2011 February $45.00 call (ADP1119B45) Entry @ $2.00

01/03: Entry @ $46.75
01/01: New stop loss @ 45.45
01/01: New entry point @ current levels, new option strike (Feb. $45)

Entry on January 3 at $46.75
Earnings Date 01/26/11 (unconfirmed)
Average Daily Volume: 2.8 million
Listed on December 16th, 2010


Alaska Air Group - ALK - close: 57.41 change: -0.47

Stop Loss: 54.90
Target(s): 59.75, 64.00, (option exit 61.75)
Current Gain/Loss: + 4.5%
Time Frame: 8 to 9 weeks
New Positions: see below

Comments:
01/04 update: ALK reported their December results and 2010 results today. ALK's number of revenue passenger miles rose from 18.4 billion in 2009 to 20.35 billion in 2010. December saw its traffic numbers up 13.3%. Worries over rising oil prices still hangs over the airline sector but the XAL managed to post a gain today. ALK underperformed its peers with a -0.8% loss. I am not suggesting new bullish trades in ALK at this time.

We want to sell half of our stock position at $59.75. Sell all of our January options at $61.75. Sell the rest of our stock position at $64.00.

Current Position: Long ALK stock @ $54.91

- or -

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

12/21: First target is 59.75, adding second target at $64 for ALK stock.
12/21: Adjusting our only exit target on the calls to $61.75.

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


Popular Inc. - BPOP - close: 3.12 change: -0.08

Stop Loss: 2.75
Target(s): 3.40, 3.95
Current Gain/Loss: + 4.0%
Time Frame: 12 to 16 weeks
New Positions: see below

Comments:
01/04 update: Warning! After BPOP's recent strength the stock just produced a potential bearish reversal pattern. Today's rally failed at $3.25 and shares closed with a 2.5% loss. The move is somewhat reminiscent of the failed rally in mid December. I'm not suggesting new positions at current levels. Conservative traders may want to raise their stop closer to the 50-dma (currently near $2.90).

Current Position: Long BPOP stock @ $3.00

- or -

Long the 2011 April $3.00 calls (BPOP1116D3) Entry @ $0.34

12/22: Close over $3.00 is another bullish entry point.
12/18: New stop loss @ 2.75

Entry on December 14 at $ 3.00
Earnings Date 01/20/11 (unconfirmed)
Average Daily Volume: 11.7 million
Listed on December 11th, 2010


Citigroup Inc. - C - close: 4.90 change: +0.00

Stop Loss: 4.49
Target(s): 5.00, 5.35
Current Gain/Loss: + 3.5%
Time Frame: 10 to 12 weeks
New Positions: see below

Comments:
01/04 update: It was a quiet day for Citigroup with the stock closing unchanged on the session. Our first target to take profits is at $5.00. I am not suggesting new bullish positions at these levels. This remains an aggressive, higher-risk trade. The plan was to keep our position size small to limit their risk.

Current Position: Long Citigroup stock @ $4.73

- or -

Long the 2011 March $5.00 calls (C1119C5) Entry @ $0.20

Entry on December 20 at $ 4.73
Earnings Date 01/18/11 (confirmed)
Average Daily Volume: 688 million
Listed on December 18th, 2010


Companhia Brasileira de Distribuicao - CBD - close: 42.49 change: -0.91

Stop Loss: 39.80
Target(s): 44.95, 49.00
Current Gain/Loss: + 5.5%
Time Frame: 12 to 14 weeks
New Positions: see below

Comments:
01/04 update: Bingo! If you wanted to buy a pull back in CBD then you got your chance today. Shares rallied off a test of the 10-dma this afternoon. CBD can be a volatile stock so readers should consider this a higher-risk trade.

NOTE: We may need to reconsider our time frame on CBD. It could take longer than previously expected for shares to hit our targets.

Current Position: Long CBD stock @ $40.25

01/01 new stop loss @ 39.80
12/29 new stop loss @ 39.25
12/21 New stop loss @ 37.90

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


Check Point Software Technologies - CHKP - close: 46.88 change: -0.01

Stop Loss: 43.95
Target(s): 47.25, 49.75
Current Gain/Loss: + 3.9%
Time Frame: 8 to 10 weeks
New Positions: see below

Comments:
01/04 update: Tuesday was also a quiet day for CHKP. Looking at the intraday chart you can see that traders are still buying the dips. Our first target has already been hit. We're aiming for $49.75. More conservative traders might want to consider raising their stops closer to the $45 level. Investors will have to decide whether or not they are willing to hold over CHKP's earnings in late January.

Current Position: Long CHKP stock @ $45.10

- or -

Long the 2011 April $45.00 calls (CHKP1116D45) Entry @ $2.55

01/03: 1st Target Hit @ $47.25 (+4.7%) Option @ $3.75 (+47%)

Entry on December 20 at $45.10
Earnings Date 01/26/11 (unconfirmed)
Average Daily Volume: 1.4 million
Listed on December 18th, 2010


Walt Disney Co. - DIS - close: 38.99 change: +1.17

Stop Loss: 36.75
Target(s): 39.90, 42.50
Current Gain/Loss: + 1.9%
Time Frame: 10 to 12 weeks
New Positions: see below

Comments:
01/04 update: It was a big day for DIS. The stock surged through resistance at $38.00 and broke out to new ten-year highs. DIS hit our trigger to open bullish positions at $38.25. If you missed the entry point then look for a dip back toward the $38.25 area to jump on board. Our targets are $39.90 and $42.50. Our time frame is two or three months.

- Suggested Positions -

Long DIS stock @ 38.25

- or -

Long the 2011 February $40.00 calls (DIS1119B40) Entry @ $0.45

- or -

Long the 2011 April $40.00 calls (DIS1116D40) Entry @ $1.10

01/04: Play triggered @ 38.25

chart:

Entry on January 4 at $38.25
Earnings Date 02/08/11 (unconfirmed)
Average Daily Volume: 8.6 million
Listed on December 25th, 2010


Ford Motor Co. - F - close: 17.38 change: +0.13

Stop Loss: 16.29
Target(s): 18.40, 19.95
Current Gain/Loss: + 2.8%
Time Frame: 10 to 12 weeks
New Positions: see below

Comments:
01/04 update: The big car makers announced their December sales today. Ford saw a +19% surge in sales, the biggest gain in over 25 years. The stock saw a spike lower intraday but traders bought it near $17.00, which should be short-term support. I would still consider new bullish positions here at current levels.

FYI: The Point & Figure chart for Ford is bullish with a long-term target of $19.50.

- Suggested Positions -

Long Ford stock @ $16.90

- or -

Long the 2011 January $17.50 calls (F1122a17.5) Entry @ $0.25

- or -

Long the 2011 March $18.00 calls (F1119C18) Entry @ $0.61

Entry on December 23 at $16.90
Earnings Date 01/27/11 (unconfirmed)
Average Daily Volume: 58.7 million
Listed on December 22nd, 2010


FLIR Systems Inc. - FLIR - close: 29.08 change: -0.57

Stop Loss: 27.40
Target(s): 30.90, 33.00
Current Option Gain/Loss: - 0.7%
Time Frame: 10 to 12 weeks
New Positions: see below

Comments:
01/04 update: We have been expecting a correction in FLIR and it looks like that pull back has begun. The stock underperformed the market and closed near the $29.00 level. I'm expecting additional support in the 28.50-28.00 zone with its rising 50 and 200-dma. We can buy FLIR here or look for a dip closer to $28.50. FLIR doesn't move super fast but our targets are $30.90 and $33.00.

Current Position: Long FLIR stock @ $29.10

- or -

Long the 2011 April $30.00 calls (FLIR1116D30) Entry @ $1.60

Entry on December 22 at $29.10
Earnings Date 02/10/11 (unconfirmed)
Average Daily Volume: 1.6 million
Listed on December 18th, 2010


JB Hunt Transport Services - JBHT - close: 41.26 change: -0.38

Stop Loss: 38.75
Target(s): 43.50, 46.75
Current Option Gain/Loss: + 2.3%
Time Frame: 10 to 12 weeks
New Positions: see below

Comments:
01/04 update: The afternoon, intraday bounce in JBHT today looks like another entry point but readers may want to raise their stops closer to the $40 level.

FYI: The Point & Figure chart for JBHT is bullish with a $54.50 target.

Suggested Position: Long JBHT stock @ $40.33

- or -

Buy the 2011 February $40 calls (JBHT1119B40) Entry @ $1.85

12/22 Entry at $40.33
12/21 New Entry Point - Launch Positions Now (open of 12/22)

Entry on December 22 at $40.33
Earnings Date 01/28/11 (unconfirmed)
Average Daily Volume: 1.2 million
Listed on December 13th, 2010


Morgan Stanley - MS - close: 28.47 change: +0.24

Stop Loss: 25.95
Target(s): 29.85, 31.85
Current Gain/Loss: + 5.6%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
01/04 update: Shares of MS held up pretty well today. I probably wouldn't chase it. Our first target is $29.85.

Current Position: Long MS stock @ 26.95

- or -

Long the 2011 January $27.50 calls (MS1122a27.50) Entry @ $0.58

- or -

Long the 2011 April $27 calls (MS1116D27) Entry @ $1.64

01/03: New stop loss @ 25.95

Entry on December 22 at $26.95
Earnings Date 01/20/11 (unconfirmed)
Average Daily Volume: 12.2 million
Listed on December 21st, 2010


Microsoft Corp. - MSFT - close: 28.09 change: +0.11

Stop Loss: 25.95
Target(s): 27.45, 29.00
Current Gain/Loss: + 9.9%
Time Frame: 10 to 12 weeks
New Positions: see below

Comments:
01/04 update: MSFT was showing a little relative strength today with a +0.38% gain. While the strength is encouraging I am not suggesting new positions at this time.

Current Position: Long MSFT stock @ 25.55

- or -

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

12/25/10 new stop @ 25.95
12/18/10 new stop @ 25.70
12/14/10 Target hit @ 27.45 (+7.4%), option @ $2.55 (+83.4%)
12/11/10 New stop @ 25.45
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


Manitowoc Co. Inc. - MTW - close: 13.49 change: +0.38

Stop Loss: 11.95
Target(s): 14.95, 16.25
Current Gain/Loss: +0.0%
Time Frame: 10 to 12 weeks
New Positions: Yes, see below

Comments:
01/04 update: MTW opened at $13.54 (our entry point) and then corrected back toward the $13 area. I would still buy this stock (or calls) in the $12.75-13.50 zone. We want to keep our position size small to limit our risk. We're starting this play with a wide (aggressive) stop loss at $11.95. More conservative traders may want to use a stop closer to 412.50 or even Friday's low near 12.70. Our targets are $14.95 and $16.25. FYI: The Point & Figure chart for MTW is bullish with a long-term $21 price target.

Current Position: Long MTW stock @ $13.54

- or

Long the 2011 February $14.00 calls (MTW1119B14) Entry @ $0.70

Entry on January 4 at $13.54
Earnings Date 02/02/11 (unconfirmed)
Average Daily Volume: 2.0 million
Listed on January 3rd, 2010


Mylan, Inc. - MYL - close: 21.55 change: -0.12

Stop Loss: 19.99
Target(s): 22.90
Current Gain/Loss: unopened
Time Frame: 12 to 14 weeks
New Positions: Yes, see trigger

Comments:
01/04 update: MYL is still holding on to yesterday's gains. Currently our plan is to launch bullish positions at $21.25.

The most recent data listed short interest at 12% of the 287 million-share float. Any significant rallies could fuel some short covering.
FYI: The Point & Figure chart for MYL is bullish with a $33 target.

Trigger to buy-the-dip @ $21.25

Suggested Position: Buy MYL stock @ $21.25

- or -

Buy the 2011 April $20.00 calls (MYL1116D20)

Entry on December xx at $xx.xx
Earnings Date 02/24/11 (unconfirmed)
Average Daily Volume: 9.0 million
Listed on December 20th, 2010


NVIDIA Corp - NVDA - close: 15.77 change: -0.05

Stop Loss: 14.45
Target(s): 16.75, 17.90
Current Gain/Loss: + 4.0%
Time Frame: 10 to 12 weeks
New Positions: see below

Comments:
01/04 update: Bulls bought the dip in NVDA near $15.40 midday. I am not suggesting new positions at current levels. Wait for a dip closer to $15.00-15.20. Our time frame is two or three months. We'll try and limit our risk with a relatively tight stop loss.

(small positions)

Current Position: Long NVDA stock @ $15.15

- or -

Long the 2011 February $15.00 calls (NVDA1119B15) Entry @ $1.05

- or -

Long the 2011 March $15.00 calls (NVDA1119C15) Entry @ $1.25

Entry on December 31 at $15.15
Earnings Date 02/17/11 (unconfirmed)
Average Daily Volume: 13.2 million
Listed on December 30th, 2010


ResMed Inc. - RMD - close: 35.28 change: +0.26

Stop Loss: 32.40
Target(s): 38.00
Current Gain/Loss: unopened
Time Frame: 8 to 10 weeks
New Positions: Yes, see trigger

Comments:
01/04 update: There is no change from my prior comments on RMD. I am suggesting a trigger to launch bullish positions at $34.00 with a stop loss at $32.40. If triggered our multi-week target is $38.00.

Trigger to buy-the-dip @ $34.00

Suggested Position: Buy RMD stock @ $34.00

- or -

Buy the 2011 April $35.00 calls (RMD1116D35) current ask $2.05

Entry on January xx at $xx.xx
Earnings Date 02/03/11 (unconfirmed)
Average Daily Volume: 752 thousand
Listed on January 1st, 2010


Starbucks Corp. - SBUX - close: 32.48 change: -0.77

Stop Loss: 31.70
Target(s): 35.75
Current Gain/Loss: + 0.7%
Time Frame: 8 to 10 weeks
New Positions: see below

Comments:
01/04 update: Uh-oh! SBUX gave back a large chunk of its gains from Monday. The move suddenly looks like a failed rally or possibly a bull-trap pattern. I am not suggesting new positions at this time.

FYI: SBUX is currently in a legal battle with Kraft Foods (KFT) over distribution of SBUX's ground coffee brand but investors seem to be ignoring it.

Suggested Position: Long SBUX stock @ $31.25

- or -

Long the 2011 January $33.00 call (SBUX1122A33) Entry @ $0.55
Long the 2011 April $34.00 call (SBUX1116D34) Entry @ $1.30

01/03/11 New target at $35.75
12/27/10 Trigger hit @ 32.25
12/25/10 new trigger 32.25, new stop 31.70

Entry on December 27 at $32.25
Earnings Date 01/20/11 (unconfirmed)
Average Daily Volume: 7.1 million
Listed on December 8th, 2010


Sony Corp. - SNE - close: 36.16 change: -0.22

Stop Loss: 34.75
Target(s): 37.75, 39.75
Current Gain/Loss: + 1.5%
Time Frame: 10 to 12 weeks
New Positions: see below

Comments:
01/04 update: SNE found support near $36.00 this afternoon. The action today looks like another bullish entry point.

Current Position: Long SNE stock @ $35.60
- or -
Long the 2011 APRIL $35 calls (SNE1116D35) Entry @ $2.26

01/01 New stop loss @ 34.75
12/22 Triggered @ $35.60
12/21 New trigger @ 35.60, New stop @ 34.40

Entry on December 22 at $35.60
Earnings Date 02/03/11 (unconfirmed)
Average Daily Volume: 888 thousand
Listed on November 23rd, 2010


Seagate Technology - STX - close: 14.78 change: -0.19

Stop Loss: 14.70
Target(s): 16.95, 17.75
Current Gain/Loss: unopened
Time Frame: 10 to 12 weeks
New Positions: Yes, see trigger

Comments:
01/04 update: STX is still consolidating sideways just above its 200-dma. I am suggesting a breakout trigger at $15.45. Our targets are $16.95 and $17.75. I anticipate this trade taking several weeks. However, STX is due to report earnings in about three weeks. Normally we do not want to hold over earnings. Conservative traders will want to exit ahead of the announcement.
FYI: The Point & Figure chart for STX is bullish with a long-term $28.50 target.

Trigger at $15.45

Suggested Position: Buy STX stock @ $15.45

- or -

Buy the 2011 February $15 calls (STX1119B15) current ask $0.91

Entry on January xx at $xx.xx
Earnings Date 01/20/11 (unconfirmed)
Average Daily Volume: 7.1 million
Listed on January 1st, 2010


Wells Fargo & Co - WFC - close: 31.65 change: +0.07

Stop Loss: 28.90
Target(s): 29.25, 32.90
Current Gain/Loss: +17.5%
Time Frame: 10 to 12 weeks
New Positions: see below

Comments:
01/04 update: WFC inched higher on Tuesday, outperforming its peers. There is no change from my prior comments. I am not suggesting new positions at this time. Our target to exit is $32.90. Aggressive traders could set their target near resistance at $34.00 instead. The Point & Figure chart is very bullish with a long-term $48 target.

Current Position: Long WFC stock @ $26.88

- or -

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

12/22: New stop loss @ 28.90, New final target @ 32.90
12/21: New stop loss @ 28.49
12/09: New stop loss @ $27.90
12/08: Target Hit $29.25 (+8.8%), Option @ $2.30 (+98.2%)

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 Wrestling Entertainment - WWE - close: 14.13 change: -0.23

Stop Loss: 13.90
Target(s): 14.95, 16.40
Current Gain/Loss: + 0.2%
Time Frame: 10 to 12 weeks
New Positions: see below

Comments:
01/04 update: I have been suggesting readers wait for a dip near $14.15-14.10 as our next entry point. WWE has provided that dip today. More conservative traders may want to wait and buy a bounce. Keep your position size small to limit your risk.

Suggested Position: Long WWE stock @ $14.10

- or -

Buy the 2011 April $15.00 calls (WWE1116D15), entry @ $0.45

*Note: The call options on WWE have very large spreads, making them a higher-risk trade.

12/30/10 new stop loss @ 13.90
12/30/10 WWE provides another entry point at $14.15

Entry on December 13 at $14.10
Earnings Date 02/10/11 (unconfirmed)
Average Daily Volume: 242 thousand
Listed on December 9th, 2010


CLOSED BULLISH PLAYS

NII Holdings Inc. - NIHD - close: 43.22 change: -0.26

Stop Loss: 41.75
Target(s): 49.00, 53.50
Current Gain/Loss: - 2.8%
Time Frame: 8 to 10 weeks
New Positions: see below

Comments:
01/04 update: NIHD is still underperforming. Shares did find some support near $43.00 today but the short-term trend is down. I am suggesting an early exit now. I would keep NIHD on your watch list as we might see a new entry point down the road (maybe near $40 or on a close over $46).

Closed Position: Long NIHD stock @ $44.49, exit $43.22 (-2.8%)

- or -

Long the 2011 January $45.00 calls (NIHD1122A45) Entry @ $1.15, exit $0.60 (-47.8%)

- or -

Long the 2011 February $48.00 calls (NIHD1119B48) Entry @ $1.10, exit $0.60 (-45.4%)

01/04: Exit early.

chart:

Entry on December 28 at $44.49
Earnings Date 02/24/11 (unconfirmed)
Average Daily Volume: 1.9 million
Listed on December 27th, 2010


Trimble Navigation - TRMB - close: 40.01 change: -0.63

Stop Loss: 39.40
Target(s): 42.75, 44.75
Current Option Gain/Loss: - 3.0%
Time Frame: 8 to 10 weeks
New Positions: see below

Comments:
01/04 update: We are getting whipsawed in TRMB. There was no follow through on yesterday's rally. Shares instead spiked lower and dipped to $39.40. Guess what? Our stop loss is $39.40. Our entry point was the opening trade at $40.65 and the trade was closed at the low of the day.

Closed Position: Long TRMB stock @ $40.65 , exit $39.40 (-3.0%)

- or -

Long the 2011 February $40.00 calls (TRMB1119B40) Entry @ $1.85, Exit @ 1.65 (-10.8%)

chart:

Entry on January 4 at $40.65
Earnings Date 02/02/11 (unconfirmed)
Average Daily Volume: 435 thousand
Listed on December 4th, 2010