Editor's Note:
Citigroup's earnings encumbered the rebound for bank stocks. Yet the major averages managed to post gains anyway. Our Citigroup position was stopped out. MYL hit our bullish exit target. I'm suggesting an early exit in SNE.

-James

Current Portfolio:


BULLISH Play Updates

Automatic Data Processing - ADP - close: 48.96 change: +0.21

Stop Loss: 46.75
Target(s): 49.75, 52.50
Current Gain/Loss: + 4.7%
Time Frame: 10 to 12 weeks
New Positions: see below

Comments:
01/18 update: ADP gapped open lower this morning but recovered to close in positive territory. The stock looks poised to rally past the $49.00 level soon. Our first target is $49.75. 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)

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: 62.97 change: -1.13

Stop Loss: 59.95
Target(s): 59.75, 64.75, (option exit 61.75)
Current Gain/Loss: +14.6%
Time Frame: 8 to 9 weeks
New Positions: see below

Comments:
01/18 update: Rival airline Delta (DAL) reported earnings today and missed estimates by 5 cents. This news sparked a wave of profit taking in the airline sector. The XAL index lost -2.6%. ALK lost -1.7%. I am not suggesting new positions at this time. Our final target is $64.75.

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.

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: 27.49 change: -0.29

Stop Loss: 26.75
Target(s): 29.90
Current Gain/Loss: + 0.6%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
01/18 update: BBT delivered a disappointing day. Shares lost -1% following Friday's bullish move higher. Tomorrow is our last day. We want to exit on Wednesday at the closing bell to avoid holding over earnings on Thursday morning.

Our plan was to keep our position size small to limit your risk.

(small positions only)

Current Position: BBT stock @ $27.32

- or -

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

01/18: Tomorrow is our last day. Prepare to exit.
01/15: New stop loss @ 26.75

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: 40.61 change: +1.20

Stop Loss: 37.75
Target(s): 43.40
Current Gain/Loss: + 4.4%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
01/18 update: BEAV is showing some relative strength with a bullish breakout past the $40.00 mark. If you prefer to buy on strength then this move could be your entry point. 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

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: 3.22 change: -0.08

Stop Loss: 3.04
Target(s): 3.40, 3.95
Current Gain/Loss: + 7.3%
Time Frame: 12 to 16 weeks
New Positions: see below

Comments:
01/18 update: Banking stocks succumbed to profit taking on Tuesday. BPOP lost -2.3%. Shares should find some support near $3.10. I am not suggesting new bullish positions at this time.

I want to remind readers that 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

01/18: Prepare to exit at the close tomorrow
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

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


CA Technologies - CA - close: 25.46 change: +0.22

Stop Loss: 24.19
Target(s): 26.65, 27.90
Current Gain/Loss: + 0.0%
Time Frame: 6 to 7 DAYS
New Positions: Yes, see below

Comments:
01/18 update: Our short-term trade in CA is off to an okay start. Shares opened at $25.21 and closed with a +0.8% gain. I'd prefer to launch positions in the $25.25-25.00 zone but keep in mind our very short time frame. We want to plan on exiting bullish positions on January 25th at the closing bell to avoid holding over CA's earnings report that evening.

FYI: The Point & Figure chart for CA is bullish with a $39.50 target.

Current Position: Long CA stock @ $25.21

- or -

Long the 2011 February $25 calls (CA1119B25) Entry @ $1.00

Entry on January 18 at $25.21
Earnings Date 01/25/11 (confirmed)
Average Daily Volume: 2.4 million
Listed on January 15th, 2010


Walt Disney Co. - DIS - close: 39.39 change: +0.10

Stop Loss: 37.85
Target(s): 39.90, 42.50
Current Gain/Loss: + 2.9%
Time Frame: 10 to 12 weeks
New Positions: see below

Comments:
01/18 update: DIS is trying to bounce after spending a few days building support near $39.00. Aggressive traders could buy this bounce on Tuesday but if you do I would consider a tight stop close to the $39.00 level. 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

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: 29.72 change: +0.23

Stop Loss: 28.49
Target(s): 30.90, 33.00
Current Option Gain/Loss: + 2.1%
Time Frame: 10 to 12 weeks
New Positions: see below

Comments:
01/18 update: FLIR continues to bounce and shares are nearing resistance at $30.00 again. I am not suggesting new positions at this time.

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

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: 42.52 change: +0.30

Stop Loss: 40.75
Target(s): 43.50, 46.75
Current Option Gain/Loss: + 5.4%
Time Frame: 10 to 12 weeks
New Positions: see below

Comments:
01/18 update: JBHT extended its gains thanks to some positive analyst comments this morning. Traders bought the dip midday near $42.00. I don't see any changes from my weekend comments. 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)

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: 28.75 change: -0.23

Stop Loss: 27.49
Target(s): 29.85, 31.85
Current Gain/Loss: + 6.6%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
01/18 update: It was a quiet day for MS with the stock trading in the $29.00-28.50 zone. Tomorrow is our last day. The plan is to exit all remaining positions at Wednesday's closing bell to avoid holding over MS' earnings report.

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

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: 28.66 change: +0.36

Stop Loss: 27.49
Target(s): 27.45, 29.75
Current Gain/Loss: +12.7%
Time Frame: 10 to 12 weeks
New Positions: see below

Comments:
01/18 update: MSFT was showing strength today with a +1.2% gain. Is this a case of AAPL's loss is MSFT's gain? You probably heard that Steve Jobs was taking another medical leave of absence from his CEO position at AAPL. Shares of AAPL lost -7% on the news.

Aggressive traders might want to consider new bullish positions in MSFT but if you do I would use a relatively tight stop loss. Earnings will be here in about a week so for most of our readers I am not suggesting new positions.

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

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: 13.86 change: -0.04

Stop Loss: 12.90
Target(s): 14.95, 16.25
Current Gain/Loss: + 2.3%
Time Frame: 10 to 12 weeks
New Positions: see below

Comments:
01/18 update: MTW continues to churn under resistance at the $14.00 level. I'm about ready to close this play early. No new 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

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


SXC Health Solutions - SXCI - close: 44.16 change: +0.15

Stop Loss: 42.40
Target(s): 49.00
Current Gain/Loss: - 0.3%
Time Frame: 8 to 9 weeks
New Positions: see below

Comments:
01/18 update: SXCI traded in a tight range most of the session but shares were in rally mode the last few minutes. I'm cautiously bullish here but would not open new positions.

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

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: 32.73 change: +1.28

Stop Loss: 29.85
Target(s): 33.75, 37.75
Current Gain/Loss: + 6.4%
Time Frame: 10 to 12 weeks
New Positions: see below

Comments:
01/18 update: WCG displayed relative strength with a +4.0% gain and a bullish breakout past resistance near $32.00. Volume was strong on the rally, which is normally a good sign. I am not suggesting new positions at these levels.

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.

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.

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

Citigroup Inc. - C - close: 4.80 change: -0.33

Stop Loss: 4.84
Target(s): 5.00, 5.45
Current Gain/Loss: + 2.3%
Time Frame: 10 to 12 weeks
New Positions: see below

Comments:
01/18 update: Ouch! It was an ugly day for Citigroup shares. This morning C reported earnings of 4 cents a share. Wall Street was expecting 8 cents. Revenues were a miss as well. The stock reacted with a gap open lower at $4.93 and a drop to $4.78 at its lows. Our stop loss was hit at $4.84 closing this trade. This was labeled 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, exit @ 4.84 (+2.3%)

- or -

2011 March $5.00 calls (C1119C5) Entry @ $0.20, Exit @ 0.22 (+10%)

01/18: Stopped out @ 4.84 (+2.3%), March call @ 0.22 (+10%)
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


Mylan, Inc. - MYL - close: 23.83 change: +1.03

Stop Loss: 21.90
Target(s): 22.90, 23.60.
Current Gain/Loss: +8.2%
Time Frame: 8 to 10 weeks
New Positions: see below

Comments:
01/18 update: Target achieved. MYL surged higher (+4.5%) and hit $24.07 intraday on news that the company had received final approval from the FDA for its Acrabose Tablet, the generic version of Bayer's Precose Tablet. These is a treatment to help with type 2 diabetes.

Our final target was hit at $23.60.

Closed Position: Long MYL stock @ 21.81, exit @ 23.60 (+8.2%)

- or -

2011 April $22.00 calls (MYL1116D22) Entry @ $1.25, exit @ $2.30 (+84%)

01/18: Target hit @ 23.60 (+8.2%), option @ $2.30 (+84%)
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: 35.87 change: -0.01

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:
01/18 update: SNE is not performing the way it should be. I am suggesting an early exit right here. More aggressive traders may want to let it ride and just inch up their stop loss. I'd keep SNE on your watch list for a breakout past the $36.50 level.

Closed Position: Long SNE stock @ $35.60, exit $35.87 (+0.76%)
- or -
2011 APRIL $35 calls (SNE1116D35) Entry @ $2.26, Exit @ 2.25 (-0.4%)

01/18 Exit early!
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