Editor's Note:
Bank stocks soared on the JPM earnings news. Meanwhile, we are trimming our play list. I am suggesting an early exit in CBD, F, JBLU, LLNW, and SBUX. We want to take profits in MS and MYL. I'm removing KSU as a candidate. WFC hit our final target.

Almost all of our plays have new stop losses tonight.

The market's trend is up but we are growing more cautious as we enter the second half of January. Odds of a market correction soon are growing.

-James

Current Portfolio:


BULLISH Play Updates

Automatic Data Processing - ADP - close: 48.75 change: +0.24

Stop Loss: 46.75
Target(s): 49.75, 52.50
Current Gain/Loss: + 4.2%
Time Frame: 10 to 12 weeks
New Positions: see below

Comments:
01/15 update: The trend is up but we have less than two weeks before ADP reports earnings. I want to reduce our risk and raise the stop loss to $46.75. Broken resistance near $47.00 should offer new support. I am not suggesting new bullish positions at this time. Our plan was to keep your position size small to limit your risk.
FYI: The Point & Figure chart for ADP is forecasting a bullish price target of $72.00 (it was $66).

Current Position: Long ADP stock @ $46.75

- or -

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

01/15: New stop loss @ 46.75
01/03: Entry @ $46.75
01/01: New stop loss @ 45.45
01/01: New entry point @ current levels, new option strike (Feb. $45)

chart:

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


Alaska Air Group - ALK - close: 64.10 change: +0.42

Stop Loss: 59.95
Target(s): 59.75, 64.75, (option exit 61.75)
Current Gain/Loss: +16.7%
Time Frame: 8 to 9 weeks
New Positions: see below

Comments:
01/15 update: ALK broke out to new all-time highs last week. Unfortunately volume has been very thin on the recent gains. I am growing concerned that ALK is overbought and due for some profit taking. Please note that I am adjusting our final exit target to $64.75 (down from $64.90) and I'm moving our stop loss up to $59.95. I am not suggesting new positions at this time.

Current Position: Long ALK stock @ $54.91

01/15: New stop loss @ 59.95, Final Target adjusted to $64.75
01/12: New stop loss @ 58.75
01/08: New stop loss @ 57.75. New target at $64.90
01/07: Option Target Hit @ 61.75. Option @ $3.00 (+87.5%). 01/05: Target hit at $59.75 (+8.8%)
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.

chart:

Entry on November 22 at $54.91
Earnings Date 01/25/11 (confirmed)
Average Daily Volume: 331 thousand
Listed on November 20th, 2010


BB& T Corp. - BBT - close: 27.78 change: +0.91

Stop Loss: 26.75
Target(s): 29.90
Current Gain/Loss: + 1.6%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
01/15 update: The bullish earnings report from JPM sparked a rally across the banking sector. BBT surged +3.3% to new six-month highs on strong volume. While this is very encouraging I remain cautious on this stock. Earnings are coming up soon and we don't want to hold over the report. I am raising our stop loss to $26.75. If BBT doesn't see some follow through on Tuesday we might exit early. No new positions at this time.

Our plan was to keep our position size small to limit your risk. Our first target is $29.90.

(small positions only)

Current Position: BBT stock @ $27.32

- or -

Buy the 2011 February $28.00 calls (BBT1119B28) Entry @ 0.90

01/15: New stop loss @ 26.75

chart:

Entry on January 6 at $27.32
Earnings Date 01/21/11 (confirmed)
Average Daily Volume: 6.4 million
Listed on January 5th, 2010


BE Aerospace Inc. - BEAV - close: 39.41 change: +0.25

Stop Loss: 37.75
Target(s): 43.40
Current Gain/Loss: + 1.3%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
01/15 update: The trend in BEAV is up but shares seem to be lagging their peers. If this stock doesn't breakout past $40.00 in the next couple of days we'll drop it. I am raising our stop loss to $37.75 to reduce our risk. I'd still consider new positions but I think the trade is getting riskier. We want to keep our position size small to limit our risk.

Current Position: BEAV stock @ $38.89

- or -

Long the 2011 February $40.00 calls (BEAV1119B40) Entry @ $1.35

01/15: new stop loss @ 37.75

chart:

Entry on January 11 at $38.89
Earnings Date 02/01/11 (unconfirmed)
Average Daily Volume: 542 thousand
Listed on January 10th, 2010


Popular Inc. - BPOP - close: 3.30 change: +0.09

Stop Loss: 3.04
Target(s): 3.40, 3.95
Current Gain/Loss: +10.0%
Time Frame: 12 to 16 weeks
New Positions: see below

Comments:
01/15 update: JPM's strong earnings sent bank stocks higher. BPOP rallied to $3.38 intraday. The stock managed to close at new multi-month highs. I am raising our stop loss to $3.04. More conservative traders may want to take profits early right now (with BPOP up +10%). I can't find a good earnings date for BPOP. It could be January 20th or it could be the 26th. We don't want to hold over the report so prepare to exit on Wednesday at the closing bell just in case. I am not suggesting new positions at this time.

Current Position: Long BPOP stock @ $3.00

- or -

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

01/15: New stop loss @ 3.04
12/22: Close over $3.00 is another bullish entry point.
12/18: New stop loss @ 2.75

chart:

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: 5.13 change: +0.09

Stop Loss: 4.84
Target(s): 5.00, 5.45
Current Gain/Loss: + 8.4%
Time Frame: 10 to 12 weeks
New Positions: see below

Comments:
01/15 update: Buckle your seat belt. The market's are closed on Monday and Citigroup reports earnings on Tuesday morning before the opening bell. The stock could see a lot of volatility on Tuesday as investors react to the news. I am raising our stop loss again, this time to $4.84. Shares of C posted a +1.7% gain and hit new 52-week highs on Friday. Currently our target to exit is $5.45.

I am not suggesting new positions at this time. 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

01/15: New stop loss @ 4.84
01/12: New stop loss @ 4.75, new target at $5.45
01/05: New stop loss @ 4.63
01/05: Target hit @ 5.00 (+5.7%), option @ $0.30 (+50%)

chart:

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


Walt Disney Co. - DIS - close: 39.29 change: +0.03

Stop Loss: 37.85
Target(s): 39.90, 42.50
Current Gain/Loss: + 2.7%
Time Frame: 10 to 12 weeks
New Positions: see below

Comments:
01/15 update: I remain long-term bullish on DIS. Short-term the stock has found support near $39.00 but I'd rather consider new bullish positions closer to $38.00. Please note our new stop loss at $37.85. Our first target has already been hit. We're currently aiming for $42.50.

- Current 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

01/15: New stop loss @ 37.85
01/05: 1st Target Hit. Stock @ 39.90 (+4.3%)
01/05: 1st Target Hit. Feb. call @ $1.20 (+166%). April call @ 1.80 (+63.6%)
01/05: new stop loss @ 37.49
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


FLIR Systems Inc. - FLIR - close: 29.49 change: +0.36

Stop Loss: 28.49
Target(s): 30.90, 33.00
Current Option Gain/Loss: + 1.3%
Time Frame: 10 to 12 weeks
New Positions: see below

Comments:
01/15 update: The rebound in FLIR picked up some speed on Friday. I remain very cautious here and we are not suggesting new bullish positions at this time. The low last week was $28.53. I am raising our stop loss to $28.49. If FLIR fails to see any follow through on Friday's gains we'll consider an early exit next week.

Current Position: Long FLIR stock @ $29.10

- or -

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

01/15: New stop loss @ 28.49
01/10: FLIR provided another entry point near $28.50
01/08: New stop loss @ 27.90

chart:

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: 42.22 change: +0.20

Stop Loss: 40.75
Target(s): 43.50, 46.75
Current Option Gain/Loss: + 4.6%
Time Frame: 10 to 12 weeks
New Positions: see below

Comments:
01/15 update: JBHT is still slowly melting higher. I'm willing to let it run but we want to be very careful here. I am raising our stop loss to $40.75. We are not suggesting new bullish positions. Our first target to take profits is at $43.50.

Current Position: Long JBHT stock @ $40.33

- or -

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

01/15 New stop loss @ 40.75
12/22 Entry at $40.33
12/21 New Entry Point - Launch Positions Now (open of 12/22)

chart:

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: 28.98 change: +0.68

Stop Loss: 27.49
Target(s): 29.85, 31.85
Current Gain/Loss: + 7.5%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
01/15 update: Strength in the financial sector on Friday, thanks to JPM's earnings, lifted MS to a +2.4% gain. The stock hit an intraday high of $29.17 and settled at new relative highs. I am suggesting we take profits right here and then exit completely on Wednesday, January 19th at the closing bell to avoid holding over earnings. Please note our new stop loss at $27.49.

Exit the remainder of our January calls now currently bidding $1.63 (+181%). Sell half of our April $27 calls, currently $2.82 (+71.9%). Sell half of our MS stock (+7.5%). We will exit the rest of our positions on Wednesday (see comments above). I am not suggesting new bullish positions at this time.

Current Position: Long MS stock @ 26.95

- or -

2011 January $27.50 calls (MS1122a27.50) Entry @ $0.58, exit 1.63 (+181%)

- or -

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

01/15: Take Profits. Exit Jan. calls @ 1.63, half April calls @ 2.82
01/15: Sell half of our stock position @ 28.98 (+7.5%)
01/15: New stop loss @ 27.49
01/10: Follow up - January calls opened at $1.12 (+93%)
01/08: Sell half of our January calls @ $1.14 (+96%)
01/03: New stop loss @ 25.95

chart:

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


Microsoft Corp. - MSFT - close: 28.30 change: +0.11

Stop Loss: 27.49
Target(s): 27.45, 29.75
Current Gain/Loss: +10.7%
Time Frame: 10 to 12 weeks
New Positions: see below

Comments:
01/15 update: MSFT was showing some relative weakness Friday morning but the stock recovered. Shares still lagged the broader market. It was our plan to exit our January calls at the closing bell on Friday. They closed with a bid at $3.25 (+133.8%).

I still think MSFT could offer some opportunity this week so we'll keep the stock position open. However, we'll try and reduce our risk by raising the stop loss to $27.49. No new positions at this time.

Current Position: Long MSFT stock @ 25.55

- or -

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

01/15/11 New stop loss @ 27.49
01/14/11 Follow up. Exit Jan $25 calls @ 3.25 (+133.9%)
01/13/11 Plan to exit our January calls tomorrow at the close.
01/06/11 raised final exit target to $29.75
01/06/11 new stop loss @ 26.95
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

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


Manitowoc Co. Inc. - MTW - close: 13.90 change: +0.21

Stop Loss: 12.90
Target(s): 14.95, 16.25
Current Gain/Loss: + 2.6%
Time Frame: 10 to 12 weeks
New Positions: see below

Comments:
01/15 update: MTW rebounded from the $13.50 area and rallied toward short-term resistance near $14.00. If we don't see a breakout soon we might want to close this play early. I want to try and reduce our risk by raising the stop loss to $12.90. I am not suggesting new bullish positions at this time. 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

01/15: New stop loss @ 12.90
01/08: New stop loss @ $12.30

chart:

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: 22.80 change: +0.07

Stop Loss: 21.90
Target(s): 22.90, 23.60.
Current Gain/Loss: +4.5%
Time Frame: 8 to 10 weeks
New Positions: see below

Comments:
01/15 update: Take profits now! MYL managed a +0.3% gain on Friday. This lagged the biotech sector and the major market indices. I'm concerned the stock could be losing momentum. Instead of waiting for MYL to hit our first target at $22.90, I am suggesting we go ahead and take profits now. Sell half of everything. The April $22 calls have a bid at $1.72 (+37.6%). We'll raise our stop loss to $21.90. I am not suggesting new positions at this time. Our final target remains $23.60.

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.

Current Position: Long MYL stock @ 21.81

- or -

Long the 2011 April $22.00 calls (MYL1116D22) Entry @ $1.25

01/15: New stop loss @ 21.90
01/15: Take Profits. Sell Half. MYL @ 22.80 (+4.5%) Option @ 1.72 (+37%)

chart:

Entry on January 6 at $21.81
Earnings Date 02/24/11 (unconfirmed)
Average Daily Volume: 9.0 million
Listed on December 20th, 2010


Sony Corp. - SNE - close: 35.88 change: +0.26

Stop Loss: 35.25
Target(s): 37.75, 39.75
Current Gain/Loss: + 0.7%
Time Frame: 10 to 12 weeks
New Positions: see below

Comments:
01/15 update: Be careful here with SNE! I'm about ready to give up and hit the eject button on our SNE play. However, the stock bounced from its rising 50-dma on Friday. Shares did break their bullish channel this past week but I'm willing to give SNE another day (maybe two days) before pulling the plug. No new positions at this time. The 50-dma has risen to $35.33. I am raising our stop loss to $35.25.

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

01/15 New stop loss @ 35.25
01/08 New stop loss @ 34.95
01/01 New stop loss @ 34.75
12/22 Triggered @ $35.60
12/21 New trigger @ 35.60, New stop @ 34.40

chart:

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


SXC Health Solutions - SXCI - close: 44.01 change: +0.41

Stop Loss: 42.40
Target(s): 49.00
Current Gain/Loss: - 0.6%
Time Frame: 8 to 9 weeks
New Positions: see below

Comments:
01/15 update: Hmm... the gap down on Friday morning in SXCI looks like a reaction to some sort of headline but I can't find the news to account for the move. SXCI did recover quickly off its lows and shares have reconfirmed support near the $42.75-42.50 area. Normally this bounce from support would look like a bullish entry point to me but I am not suggesting new positions at this time.

NOTE: Buying the options is a higher-risk trade. The calls on SXCI have wider than normal spreads put option traders at a disadvantage here.

Suggested Positions: Long SXCI stock @ $44.31

- or -

Long the 2011 February $45.00 calls (SXCI1119B45) Entry @ $1.44

chart:

Entry on January 10 at $44.31
Earnings Date 03/03/11 (unconfirmed)
Average Daily Volume: 292 thousand
Listed on January 8th, 2010


WellCare Health Plans, Inc. - WCG - close: 31.45 change: +0.18

Stop Loss: 29.85
Target(s): 33.75, 37.75
Current Gain/Loss: + 2.2%
Time Frame: 10 to 12 weeks
New Positions: see below

Comments:
01/15 update: The action in WCG on Friday morning looks like a gap down on a negative headline somewhere but I can't find the news behind the move. WCG recovered from its lows (near $30.20) and posted a gain. I've been suggesting that readers look for a dip near $30 as our next entry point and it looks like we got it. I am now raising our stop loss to $29.85.

Keep in mind that investors will have to decide whether or not they are willing to take the risk of holding over WCG's earnings report in late February.
FYI: The Point & Figure chart for WCG is bullish with a $41 target.

Current Position: WCG stock @ $30.75

- or -

Long the 2011 March $35.00 calls (WCG1119C35) Entry @ $0.60

01/15: new stop loss @ 29.85
01/06: Play triggered @ 30.75.

chart:

Entry on January 6 at $30.75
Earnings Date 02/17/11 (unconfirmed)
Average Daily Volume: 410 thousand
Listed on January 4th, 2010


CLOSED BULLISH PLAYS

Companhia Brasileira de Distribuicao - CBD - close: 40.40 change: -0.66

Stop Loss: 39.80
Target(s): 44.95, 49.00
Current Gain/Loss: + 2.0%
Time Frame: 12 to 14 weeks
New Positions: see below

Comments:
01/15 update: I am giving up on CBD. The stock has been underperforming the last couple of days with another failed rally near $42. Shares closed back under their 50-dma on Friday. I'd rather exit early now.

Closed Position: Long CBD stock @ $40.25, exit @ $40.40 (+0.3%)

01/15: Exit early
01/01 new stop loss @ 39.80
12/29 new stop loss @ 39.25
12/21 New stop loss @ 37.90

chart:

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


Ford Motor Co. - F - close: 18.65 change: -0.03

Stop Loss: 17.40
Target(s): 18.40, 19.75
Current Gain/Loss: +10.3%
Time Frame: 10 to 12 weeks
New Positions: see below

Comments:
01/15 update: Ford is up over +12% in the last two weeks. While the trend is up shares did not participate in the market rally on Friday. I am suggesting we go ahead and exit positions early right here. I would keep Ford on your watch list as a dip near $17.00 could be a new bullish entry point.

- Suggested Positions -

Long Ford stock @ $16.90, exit @ $18.65 (+10.3%)

2011 March $18.00 call (F1119C18) Entry @ $0.61 exit @ $1.36 (+122.9%)

01/15: Exit early
01/12: New stop loss @ 17.40
01/10: FYI: our January $17.50 calls opened at $0.93 (+272%)
01/08: Sell the rest of our January calls now! @ $0.89 (+256%)
01/07: Target hit. F @ 18.42. Jan. call @ $0.90 (+260%). Mar. call @ $1.29 (+111%)
01/07: 1st Target Hit. Ford @ 18.42 (+8.99%)
01/05: New stop loss @ 16.49.

chart:

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


JetBlue Airways Corp. - JBLU - close: 6.80 change: -0.09

Stop Loss: 6.58
Target(s): 7.45
Current Gain/Loss: - 2.1%
Time Frame: 3 to 4 weeks
New Positions: Yes, see below

Comments:
01/15 update: I have had a change of heart on JBLU. The stock was underperforming its peers and the broader market on Friday. Longer-term I'm still bullish but short-term JBLU could be vulnerable. I'd rather cut our losses now with an early exit.

Closed Position: JBLU stock @ $6.95, exit @ 6.80 (-2.1%)

- or -

2011 Feb. $7.00 call (JBLU1119B7) Entry @ $0.35, exit @ 0.20 (-42.8%)

chart:

Entry on January 13 at $ 6.95
Earnings Date 01/27/11 (unconfirmed)
Average Daily Volume: 3.5 million
Listed on January 12th, 2010


Kansas City Southern - KSU - close: 52.04 change: +0.18

Stop Loss: 47.90
Target(s): 54.75
Current Gain/Loss: unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see trigger

Comments:
01/15 update: KSU outperformed its peers in the railroad sector on Friday. Unfortunately we're still waiting for an entry point. I am actually dropping KSU as a candidate as the stock has not yet hit our entry point to open positions. Readers may want to keep KSU on their watch list as a dip near $50.00 could be support. However, I'd look or a dip closer to the rising 50-dma (currently $48). (Our trade never opened)

chart:

Entry on January xx at $xx.xx
Earnings Date 01/27/11 (unconfirmed)
Average Daily Volume: 815 thousand
Listed on January 8th, 2010


Limelight Networks - LLNW - close: 6.25 change: +0.01

Stop Loss: 5.95
Target(s): 6.90, 7.25
Current Gain/Loss: - 1.2%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
01/15 update: I think LLNW has a lot of potential. However, if the stock is not going to rally on a day like Friday, just when is this stock going to rally? I am suggesting an early exit now to keep our losses at a minimum. Our plan was to keep positions small to limit our risk.

-Small Positions-

Closed Position: LLNW stock @ $6.33, exit @ 6.25 (-1.2%)

- or -

2011 Feb. $5.00 call (LLNW1119B5) Entry @ $1.45, exit @ 1.25 (-13.7%)

chart:

Entry on January 12 at $6.33
Earnings Date 02/22/11 (unconfirmed)
Average Daily Volume: 1.3 million
Listed on January 11th, 2010


Starbucks Corp. - SBUX - close: 32.70 change: +0.29

Stop Loss: 31.70
Target(s): 35.75
Current Gain/Loss: + 1.4%
Time Frame: 8 to 10 weeks
New Positions: see below

Comments:
01/15 update: SBUX continues to find support at its rising 40-dma and honestly shares look poised to move higher. Yet I don't want to hold on any longer. SBUX has been stuck in its trading range for days. I'd rather exit now to protect capital. At $32.70 our stock position is up +1.4%. The January $33 calls have a bid at $0.26 (-52.7%). I'd be tempted to hold on to these calls to see if you could recoup more capital but we only have four trading days left. The April $34 calls have a bid at $1.18 (-9.2%).

Exit Early!

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

01/15/11 Exit Early (see details in the play update above)
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

chart:

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


Wells Fargo & Co - WFC - close: 32.75 change: +0.86

Stop Loss: 30.40
Target(s): 29.25, 32.75
Current Gain/Loss: +21.8%
Time Frame: 10 to 12 weeks
New Positions: see below

Comments:
01/15 update: Target achieved! JPM's bullish earnings report sparked another big surge in the banking stocks. WFC rallied to $32.81 intraday and settled with a +2.69% gain. Our final target to exit was hit at $32.75.

Closed Position: Long WFC stock @ $26.88, $32.75 (+21.8%)

- or -

2011 January $27.50 call (WFC1122A27.5) Entry @ $1.16, exit $5.20 (+348%)

01/14: Target hit @ 32.75. Option @ 5.20 (+348%)
01/08: Consider exiting the call position now.
01/05: New stop loss @ 30.40, final target adjusted to 32.75
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%)

chart:

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