Editor's Note:
Friday produced a bullish close for the week thanks to news in part to news in Egypt and improving Consumer Sentiment numbers here. Tonight we are adjusting some entry points on AA, ANN, LNCR, and TJX. We've also updated a few stop losses.

-James

Current Portfolio:


BULLISH Play Updates

Alcoa Inc - AA - close: 17.37 change: +0.25

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:
02/12 update: I would much rather buy AA on a dip at $16.75 (adjusted from $16.65) but that may not happen. So we're listing an alternative entry point to buy AA on a breakout at $17.65. We'll move the stop loss higher to $16.25. Our upside targets are $18.50 and $19.90. The early 2010 high near $17.60 could be short-term resistance but the trend for AA looks pretty healthy.

Trigger @ 16.75 - or - $17.65

Suggested Position: Buy AA stock @

- or -

Buy the March $17.00 calls (AA1119C17)

chart:

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: 42.69 change: -0.06

Stop Loss: 39.90
Target(s): 46.00
Current Gain/Loss: + 1.4%
Time Frame: 2 weeks
New Positions: see below

Comments:
02/12 update: Lack of movement in ADSK on Friday is worrisome. The trend is still up and I would still buy Thursday's bounce from short-term support near $42.00. Alternatively, if you're willing to wait, you could look for a dip near the bottom of ADSK's rally before initiating positions. Just remember that we don't have a lot of time. 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

chart:

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: 23.85 change: +0.18

Stop Loss: 20.95
Target(s): 25.90, 27.85
Current Gain/Loss: + 0.0%
Time Frame: 6 to 8 weeks
New Positions: Yes, see below

Comments:
02/12 update: New entry point! I am turning more aggressive on ANN. Instead of waiting for a dip to $23.00 I am suggesting small bullish positions now. We'll leave the stop loss at $20.95 but more conservative traders may want to put their stop closer to $21.50. Shares of ANN still have some short-term resistance near the $24.40-24.50 zone and the 50-dma could be a problem but the strength in the RLX retail index bodes well for stocks like ANN.

Our targets are $25.90 and $27.85. FYI: The P&F chart is still long-term bullish in spite of the January correction.

Open Small Positions Now!

Suggested Position: Buy ANN stock @ current levels

- or -

Buy the March $22.50 calls (ANN1119C22.5) current ask $2.20

chart:

Entry on February 14 at $xx.xx
Earnings Date 03/11/11 (confirmed)
Average Daily Volume: 3.0 million
Listed on February 8th, 2010


BMC Software - BMC - close: 50.17 change: +0.66

Stop Loss: 46.70
Target(s): 54.50
Current Gain/Loss: + 1.7%
Time Frame: 6 to 8 weeks
New Positions: Yes, see below

Comments:
02/12 update: So far so good. BMC continues to rally following the breakout past resistance at $49.00. I would still buy it here or you could wait for a dip back towards the $49 area, which should be new support. The plan was to keep our positions small to limit our risk. I'm suggesting a stop at $46.70 although you might be able to get away with a stop closer to the 50-dma. Our first target is $54.50.

FYI: The Point & Figure chart for BMC is bullish with a $78 target.

Current Position: Long BMC stock @ 49.30

- or -

Long the March $50 call (BMC1119C50) Entry @ $1.40

chart:

Entry on February 11 at $49.30
Earnings Date 05/05/11 (unconfirmed)
Average Daily Volume: 1.9 million
Listed on February 10th, 2010


Hansen Natural Corp. - HANS - close: 56.57 change: +1.36

Stop Loss: 53.75
Target(s): 59.50
Current Gain/Loss: + 1.8%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
02/12 update: HANS spiked higher on Friday morning and then spent the rest of the day inside the $57.25-56.50 zone. I couldn't find any news to explain the spike but I'm not complaining nor am I surprised. HANS can be a volatile stock at times. At this point I'd look for dips in the $56-55 zone as a new entry point. The 50-dma has risen to $53.75 so I am raising our stop loss to $53.75. Small positions only to limit our risk.

- Small Positions to limit our risk -

Current Position: HANS stock @ $55.54

02/12 New stop loss @ 53.75
01/29 Exit call positions early. @ $1.15 (-23.3%)
01/26 the CBOE listed the MAR $60 call's open @ $1.50

chart:

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: 28.35 change: -0.32

Stop Loss: 26.90
Target(s): 29.90, 31.75
Current Gain/Loss: + 0.0%
Time Frame: 6 to 8 weeks
New Positions: Yes, see below

Comments:
02/12 update: Instead of being dismayed at the relative weakness in LNCR on Friday (-1.1%) I am suggesting we take advantage of it. Let's open small bullish positions now instead of waiting for a dip to $28.00. I don't see any other changes from my prior comments.

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.

Open Small Bullish Positions Now!

Current Position: Buy LNCR stock @ current levels

- or -

Buy the March $29.00 calls (LNCR1119C29) current ask $0.65

02/12 Adjusted entry point to current levels.

chart:

Entry on February 14 at $xx.xx
Earnings Date 04/19/11 (unconfirmed)
Average Daily Volume: 932 thousand
Listed on February 9th, 2010


Oracle Corp. - ORCL - close: 33.47 change: +0.21

Stop Loss: 31.65
Target(s): 34.90
Current Gain/Loss: + 2.6%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
02/12 update: ORCL managed to tag a new ten-year high on an intraday basis. Odds are pretty good we might see another entry point on a dip near the $33.00-32.80 zone. I am raising our stop loss to $31.65.

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

02/12 New stop loss @ 31.65
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

chart:

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


Solutia Inc. - SOA - close: 25.33 change: +0.72

Stop Loss: 23.65
Target(s): 27.25, 29.50
Current Gain/Loss: + 0.3%
Time Frame: 8 to 10 weeks
New Positions: Yes, see below

Comments:
02/12 update: Our new play on SOA has been opened. Shares outperformed the major indices on Friday with a strong +2.9% gain. The stock broke out over resistance near $25.00 and hit our trigger to open positions at $25.25. If you missed the entry point I would still consider new positions now at current levels.

Current Position: Long SOA stock @ $25.25

- or -

Long the March $25 calls (SOA1119C25) Entry @ $1.35

- or -

Long the June $25 calls (SOA1118F25) Entry @ $2.50

chart:

Entry on February 11 at $25.25
Earnings Date 01/26/11
Average Daily Volume: 1.7 million
Listed on February 10th, 2010


The TJX Companies - TJX - close: 50.80 change: +0.82

Stop Loss: 47.45
Target(s): 52.00, 54.50
Current Gain/Loss: unopened
Time Frame: 2 to 3 weeks
New Positions: Yes, see trigger

Comments:
02/12 update: The market's strength on Friday pushed TJX through resistance at the $50.00 level. This is a bullish development but TJX still looks a little short-term overbought here. Aggressive traders may want to go ahead and buy the breakout now. I am suggesting we move our buy-the-dip entry point from $48.00 to $49.25 and move our stop loss from $46.49 to $47.45. Alternatively you could look to buy a dip near the $50.00 mark.

TJX has earnings in about two weeks and we'll exit ahead of the report. We'll be aiming for $52.00 and $54.50.

Trigger @ 49.25

Suggested Position: buy TJX stock @

- or -

Buy the March $50.00 calls (TJX1119C50)

02/12 New trigger @ 49.25, New stop loss @ 47.45

chart:

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: 42.38 change: -0.05

Stop Loss: 41.25
Target(s): 44.75
Current Gain/Loss: + 2.9%
Time Frame: 8 to 10 weeks
New Positions: see below

Comments:
02/12 update: I am losing my enthusiasm for our UNH trade. The trend is up but shares are not making much progress. The stock lost ground on Friday. Tonight I am suggesting we exit our call positions early, right here. I am not suggesting new bullish positions at this time. We will raise our stop loss to $41.25.

Current Position: UNH stock @ $41.15

- or -

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

02/12: New stop loss @ 41.25
02/12: Exit the call options early (bid $1.47 +22.5%)
02/08: New stop loss @ 40.75

chart:

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