Editor's Note:
We want to see a dip but this morning's pull back in stocks was not deep enough. I am suggesting an early exit on our ENDP bearish play.

-James

Current Portfolio:


BULLISH Play Updates

Alcoa Inc - AA - close: 17.12 change: -0.04

Stop Loss: 15.75
Target(s): 18.50, 19.75
Current Gain/Loss: unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see trigger

Comments:
02/10 update: Traders bought the dip near $17.00 this morning but the rebound didn't make much progress. There is no change from my prior comments. Right now the plan is to open bullish positions at $16.65. You could use a dip into the $16.65-16.00 zone as your entry point. If triggered we'll start with a stop at $15.75. Our upside targets are $18.50 and $19.90. The early 2010 high near $17.60 will probably be short-term resistance but the trend for AA looks pretty healthy.

Trigger @ 16.65

Suggested Position: Buy AA stock @ 16.65

- or -

Buy the March $17.00 calls (AA1119C17) current ask $0.84

Entry on February xx at $xx.xx
Earnings Date 04/11/11 (unconfirmed)
Average Daily Volume: 41 million
Listed on February 2nd, 2010


Autodesk, Inc. - ADSK - close: 42.75 change: +0.51

Stop Loss: 39.90
Target(s): 46.00
Current Gain/Loss: + 1.5%
Time Frame: 2 weeks
New Positions: see below

Comments:
02/10 update: ADSK is bouncing from short-term support near $42. The stock outperformed the major indices with a +1.2% gain. I would still consider small bullish positions on this bounce or on another dip near $42. This is a short-term, two-week trade. ADSK is due to report earnings in late February and we do not want to hold over the announcement.

Current Position: Long ADSK stock @ 42.10

- or -

Long the March $45 call (ADSK1119C45) Entry @ $0.90

Entry on February 9 at $42.10
Earnings Date 02/23/11 (unconfirmed)
Average Daily Volume: 2.5 million
Listed on February 7th, 2010


AnnTaylor Stores - ANN - close: 23.67 change: -0.12

Stop Loss: 20.95
Target(s): 25.90, 27.85
Current Gain/Loss: unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see trigger

Comments:
02/10 update: ANN dipped to $23.16 this morning before paring its losses. I am suggesting we wait for a dip to $23.00. More conservative traders may want to wait for a dip into the $22.65-22.00 zone before initiating bullish positions.

If triggered we'll use a stop loss at $20.95. Our targets are $25.90 and $27.85. FYI: The P&F chart is still long-term bullish in spite of the January correction.

Trigger @ 23.00

Suggested Position: Buy ANN stock @ $23.00

- or -

Buy the March $22.50 calls (ANN1119C22.5) current ask $2.35

Entry on February xx at $xx.xx
Earnings Date 03/11/11 (confirmed)
Average Daily Volume: 3.0 million
Listed on February 8th, 2010


Hansen Natural Corp. - HANS - close: 55.21 change: +0.14

Stop Loss: 53.40
Target(s): 59.50
Current Gain/Loss: - 0.5%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
02/10 update: HANS tagged a new two-week low at $54.56 this morning. There is no change from my prior comments. This dip near $55 looks like an entry point but you might want to wait for a dip closer to $54 before initiating positions. Small positions only to limit our risk.

- Small Positions to limit our risk -

Current Position: HANS stock @ $55.54

01/29 Exit call positions early. @ $1.15 (-23.3%)
01/26 the CBOE listed the MAR $60 call's open @ $1.50

Entry on January 26 at $55.54
Earnings Date 02/24/11 (unconfirmed)
Average Daily Volume: 654 thousand
Listed on January 25th, 2010


Lincare Holdings Inc. - LNCR - close: 28.67 change: +0.30

Stop Loss: 26.90
Target(s): 29.90, 31.75
Current Gain/Loss: unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see trigger

Comments:
02/10 update: This morning would have been a perfect spot to see LNCR dip to $28.00. Instead shares only hit $28.26 before bouncing. The stock outperformed the major averages with a +1% gain. Aggressive traders might want to consider bullish positions now. I am suggesting we stick to the plan and wait for a dip to $28.00. If triggered our targets are $29.90 and $31.75. Take note that LNCR will probably see some resistance near $29.25 and the $30.00 levels.

FYI: The Point & Figure chart for LNCR is bullish with a $40 target. Plus, investors will be interested to note that LNCR has relatively high short interest. The most recent data listed short interest at 11.6% of the 86-million share float. With the recent breakout this stock could see a short squeeze.

Trigger @ 28.00

- Small Positions Only -

Suggested Position: Buy LNCR stock @ 28.00

- or -

Buy the March $29.00 calls (LNCR1119C29) current ask $0.85

Entry on February xx at $xx.xx
Earnings Date 04/19/11 (unconfirmed)
Average Daily Volume: 932 thousand
Listed on February 9th, 2010


Oracle Corp. - ORCL - close: 33.26 change: +0.37

Stop Loss: 31.40
Target(s): 34.90
Current Gain/Loss: + 1.9%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
02/10 update: Could ORCL finally be breaking out from its sideways consolidation? Shares outperformed the NASDAQ today with a +1.1% gain. I would be tempted to go ahead and open small bullish positions now at current levels.

Our target on ORCL is the $34.90 mark since $35.00 looks like the next level of resistance.

small positions to limit our risk.

Current Position: ORCL stock @ $32.62

- or -

Long the 2011 March $33 calls (ORCL1119C33) Entry @ $0.80

02/10 ORCL is improving. This looks like a new entry point.
01/29 Consider an early exit, especially the calls.
01/27 The CBOE listed the open for our calls at $0.80

Entry on January 27 at $32.62
Earnings Date 03/24/11 (unconfirmed)
Average Daily Volume: 27 million
Listed on January 26th, 2010


The TJX Companies - TJX - close: 49.98 change: +0.61

Stop Loss: 46.49
Target(s): 52.00, 54.50
Current Gain/Loss: unopened
Time Frame: 2 to 3 weeks
New Positions: Yes, see trigger

Comments:
02/10 update: Shares of TJX continue to show strength. The stock saw almost zero pull back this morning and was drifting higher all day. Now TJX is poised to breakout over resistance at $50.00. Aggressive traders might want to consider bullish positions now. We don't want to chase it.

Right now our plan is to open bullish positions on a dip at $48.00. TJX has earnings in about two and a half weeks and we'll exit ahead of the report. We'll be aiming for $52.00 and $54.50.


FYI: The Point & Figure chart for TJX is bullish with a $62 target.

Trigger @ 48.00

Suggested Position: buy TJX stock @ $48.00

- or -

Buy the March $50.00 calls (TJX1119C50) current ask $1.30

Entry on February xx at $xx.xx
Earnings Date 02/23/11 (unconfirmed)
Average Daily Volume: 3.4 million
Listed on February 5th, 2010


UnitedHealth Group - UNH - close: 42.43 change: +0.36

Stop Loss: 40.75
Target(s): 44.75
Current Gain/Loss: + 3.1%
Time Frame: 8 to 10 weeks
New Positions: see below

Comments:
02/10 update: UNH is still drifting higher. I remain cautious on this trade. I am not suggesting new positions at this time.

Current Position: UNH stock @ $41.15

- or -

Long the 2011 March $42 calls (UNH1119C42) Entry @ $1.20

02/08: New stop loss @ 40.75

Entry on January 28 at $41.15
Earnings Date 01/20/11 (unconfirmed)
Average Daily Volume: 5.9 million
Listed on January 20th, 2010


CLOSED BEARISH PLAYS

Endo Pharmaceuticals - ENDP - close: 34.84 change: +0.07

Stop Loss: 35.40
Target(s): 31.00, 30.10
Current Gain/Loss: - 0.9%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
02/10 update: I am throwing in the towel on our ENDP bearish trade. Shares are still trading under resistance near the 50-dma but given the market's resiliency odds are good this stock will breakout higher too. I'm suggesting an early exit.

Closed Position: Short ENDP stock @ 34.50, Exit @ 34.84 (-0.99%)

- or -

2011 February $35 PUT (ENDP1119N35) Entry @ $1.30, Exit @ 0.50 (-61.5%)

02/10 Exit Early. ENDP -0.99%, Option @ -61.5%
02/03 Consider an early exit now
02/01 New stop loss @ 35.40

chart:

Entry on January 27 at $34.50
Earnings Date 02/22/11 (unconfirmed)
Average Daily Volume: 1.3 million
Listed on January 24th, 2010