Editor's Note:
Traders are still in a buy the dip mode. They just didn't have time to push stocks back into the green before the closing bell. I don't see much change from my prior comments for our updates below. TJX is an exception. Shares of TJX hit our buy-the-dip entry point.

-James

Current Portfolio:


BULLISH Play Updates

Alcoa Inc - AA - close: 17.40 change: -0.19

Stop Loss: 16.25
Target(s): 18.50, 19.75
Current Gain/Loss: - 1.4%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
02/15 update: AA just about erased yesterday's breakout move and the close back under $17.50, while disappointing, is not terribly surprising. I would still consider new positions right here or you can cross your fingers and hope AA provides a dip toward the $17.00 level and then jump on board. 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.

Current Position: Long AA stock @ $17.65

- or -

Long the March $17.00 calls (AA1119C17) Entry @ $0.98

02/14 AA hits our breakout trigger @ 17.65, Stop @ 16.25

Entry on February 14 at $17.65
Earnings Date 04/11/11 (unconfirmed)
Average Daily Volume: 41 million
Listed on February 2nd, 2010


Autodesk, Inc. - ADSK - close: 42.71 change: +0.37

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

Comments:
02/15 update: Yesterday ADSK was underperforming. Today the stock is outperforming. Yet for the week shares are flat. We are quickly running out of time although at the moment the February 23rd earnings release date is still unconfirmed. We do not want to hold over the earnings 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: -0.06

Stop Loss: 20.95
Target(s): 25.90, 27.85
Current Gain/Loss: - 0.8%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
02/15 update: ANN is going nowhere fast with another day very little movement. If we don't see some movement in the next couple of sessions we'll drop this stock. I hesitate to open new positions at this time.

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

Small Positions

Current Position: Long ANN stock @ $23.86

- or -

Long the March $22.50 calls (ANN1119C22.5) Entry @ $2.35

Entry on February 14 at $23.86
Earnings Date 03/11/11 (confirmed)
Average Daily Volume: 3.0 million
Listed on February 8th, 2010


BMC Software - BMC - close: 50.44 change: -0.43

Stop Loss: 46.70
Target(s): 54.50
Current Gain/Loss: + 2.3%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
02/15 update: A little profit taking in BMC was to be expected. On a positive note traders bought the initial dip to the $50.00 mark. I don't see any changes from my prior comments. 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

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


Garmin Ltd. - GRMN - close: 32.52 change: +0.02

Stop Loss: 31.65
Target(s): 35.95
Current Gain/Loss: - 1.4%
Time Frame: six trading days
New Positions: see below

Comments:
02/15 update: GRMN spiked lower to $32.08 before recovering and eventually settled flat on the session. We don't have much time left with the stock market closed next Monday. GRMN is due to report earnings on Feb. 23rd and we do not want to hold over the report. Given the recent strength GRMN could see a short squeeze or at least some short covering. The most recent data listed short interest at 19% of the 106 million-share float.

FYI: The Point & Figure chart for GRMN is bullish with a $49 target.

Open Small Positions

Current Position: Long GRMN stock @ $33.01

- or -

Long the March $34 calls (GRMN1119C34) Entry @ $1.23

Entry on February 14 at $33.01
Earnings Date 02/23/11 (confirmed)
Average Daily Volume: 1.1 million
Listed on February 12th, 2010


Hansen Natural Corp. - HANS - close: 56.95 change: +0.56

Stop Loss: 53.75
Target(s): 59.50
Current Gain/Loss: + 2.5%
Time Frame: just a couple of weeks left.
New Positions: see below

Comments:
02/15 update: HANS displayed some relative strength on Tuesday and the bounce looks poised to continue. My biggest concern is the lack of volume behind this bounce. I am not suggesting new positions at this time. 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

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


Home Depot - HD - close: 37.69 change: +0.11

Stop Loss: 36.25
Target(s): 39.95
Current Gain/Loss: + 0.5%
Time Frame: 5 trading days
New Positions: see below

Comments:
02/15 update: HD is still inching higher. Keep in mind we have three days left. We want to close this trade on Friday, unless shares hit our target first ($39.95).

Current Position: Long HD stock @ $37.47

- or -

Long the March $38 calls (HD1119C38) Entry @ $0.74

Entry on February 14 at $37.47
Earnings Date 02/22/11 (confirmed)
Average Daily Volume: 9.8 million
Listed on February 12th, 2010


Kennametal Inc. - KMT - close: 41.18 change: -0.31

Stop Loss: 39.90
Target(s): 44.90
Current Gain/Loss: - 0.4%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
02/15 update: KMT looks poised to retest the rising 50-dma (again). I would still consider new positions now but you could wait for a dip near $40.25 and launch positions there. I am expecting the $45 level to offer some overhead resistance so we'll set our exit target at $44.90.

If you study the chart you'll note that the big down days in late January and early February had some huge volume. That is a worrisome sign so we want to keep our positions small to limit our risk. KMT does have options but they don't have a lot of volume so I'm going to stick to the stock itself.

- Small Bullish Positions -

Suggested Position: Buy KMT stock @ current levels

Entry on February 15 at $41.35
Earnings Date 04/28/11 (unconfirmed)
Average Daily Volume: 960 thousand
Listed on February 14th, 2010


Lincare Holdings Inc. - LNCR - close: 28.89 change: +0.13

Stop Loss: 26.90
Target(s): 29.90, 31.75
Current Gain/Loss: + 1.8%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
02/15 update: LNCR was showing a little relative strength on Tuesday. Readers might want to look for dips near $28.50 to open positions.

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.

- Small Bullish Positions -

Current Position: Long LNCR stock @ 28.37

- or -

Long the March $29.00 calls (LNCR1119C29) Entry @ $0.75

02/12 Adjusted entry point to current levels.

Entry on February 14 at $28.37
Earnings Date 04/19/11 (unconfirmed)
Average Daily Volume: 932 thousand
Listed on February 9th, 2010


Oracle Corp. - ORCL - close: 32.76 change: -0.53

Stop Loss: 31.65
Target(s): 34.90
Current Gain/Loss: + 0.4%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
02/15 update: ORCL was an underperformer on Tuesday with a -1.5% decline. Shares look poised to retest support near $32.00, which is where I would consider new bullish positions.

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

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: 25.29 change: -0.18

Stop Loss: 23.65
Target(s): 27.25, 29.50
Current Gain/Loss: + 0.1%
Time Frame: 8 to 10 weeks
New Positions: see below

Comments:
02/15 update: Traders bought the dip in SOA near $25 this morning. While it is encouraging to see prior resistance acting as support I wouldn't be surprised to see a dip closer to $24.50, which I would still use as a new bullish entry point.

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

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: 49.30 change: -0.24

Stop Loss: 47.45
Target(s): 52.00, 54.50
Current Gain/Loss: + 0.0%
Time Frame: 2 to 3 weeks
New Positions: see below

Comments:
02/15 update: Our trade on TJX has been opened. Shares slipped to $49.17 intraday. Our trigger to open bullish positions was hit at $49.25. More conservative traders may want to wait for a bounce before initiating positions. The correction may not be over yet.

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.

Current Position: long TJX stock @ $49.25

- or -

Long the March $50.00 calls (TJX1119C50) entry @ $1.00

02/15 Triggered @ 49.25
02/12 New trigger @ 49.25, New stop loss @ 47.45

chart:

Entry on February 15 at $49.25
Earnings Date 02/23/11 (unconfirmed)
Average Daily Volume: 3.4 million
Listed on February 5th, 2010


Toll Brothers - TOL - close: 21.46 change: +0.30

Stop Loss: 20.49
Target(s): 23.45
Current Gain/Loss: - 0.1%
Time Frame: 6 trading days
New Positions: see below

Comments:
02/15 update: TOL erased most of yesterday's losses with a +1.4% bounce. Traders bought the dip near $21.00 this morning. The bounce today looks like another entry point to launch bullish positions.

There is a chance TOL could see some short covering. The most recent data listed short interest at 13% of the 145 million-share float. Our target is $23.45 but that might be a little too optimistic given our timeframe.

- Small Positions -

Current Position: Long TOL stock @ $21.49

- or -

Long the March $22.50 calls (TOL1119C22.5) Entry @ $0.50

Entry on February 14 at $21.49
Earnings Date 02/23/11 (confirmed)
Average Daily Volume: 2.6 million
Listed on February 12th, 2010


UnitedHealth Group - UNH - close: 42.03 change: -0.43

Stop Loss: 41.25
Target(s): 44.75
Current Gain/Loss: + 2.1%
Time Frame: 8 to 10 weeks
New Positions: see below

Comments:
02/15 update: If you're not willing to endure a little profit taking in UNH then I suggest you exit soon. This stock looks ripe for a pull back. I'm expecting a dip toward $41.00 or $40.00. Of course that would stop us out of the trade (stop loss $41.25) but for now the trend is still up so we'll leave the trade open. I am not suggesting new positions at this time.

Current Position: UNH stock @ $41.15

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

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