Editor's Note:
Shares of UNH were upgraded this morning and the stock hit our exit target. Overall the trend for the market remains higher as investors applaud the strong economic data and the dip in oil today. Tomorrow will be focused on the jobs report.

-James

Current Portfolio:


BULLISH Play Updates

Alcoa Inc - AA - close: 16.63 change: +0.45

Stop Loss: 15.95
Target(s): 18.50, 19.75
Current Gain/Loss: - 5.7%
2nd Position Current Gain/Loss: - 1.2%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/03 update: AA produced a nice +2.7% bounce but traders should stay cautious here. AA still has resistance near $17.00. I am not suggesting new bullish positions at this time.

Current Position: Long AA stock @ $17.65

- or -

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

-2nd position, Entry Feb. 25th -

New Position: Buy AA stock @ 16.84

- or -

Buy the March $17.00 calls (AA1119C17) Entry @ $0.39

02/25 AA opened at $16.84. March $17 calls opened @ $0.39
02/24 Open new positions on the bounce.
02/23 use the bounce as a new entry point.
02/22 Adjust the stop loss to $15.95
02/18 AA provides another entry point
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


Arch Coal Inc. - ACI - close: 35.13 change: +0.87

Stop Loss: 31.95
Target(s): 39.50, 42.50
Current Gain/Loss: + 1.0%
Time Frame: 8 to 10 weeks
New Positions: see below

Comments:
03/03 update: How convenient! Last night we added ACI with a trigger to open bullish positions at $34.75. The stock gapped open at $34.76 this morning. The trade is opened. If you missed the entry point look for ACI to fill the gap and buy the dip near $34.50-34.40. Our multi-week targets are $39.50 and $42.50.
FYI: The Point & Figure chart for ACI is bullish with a $40 target.

Current Position: Long ACI stock @ 34.76

- or -

Long the April $35 calls (ACI1116D35) Entry @ $1.75

03/03 ACI gapped open at $34.76 (trigger was $34.75)

Entry on March 3 at $34.76
Earnings Date 04/19/11 (unconfirmed)
Average Daily Volume: 3.4 million
Listed on March 2nd, 2010


ACI Worldwide Inc. - ACIW - close: 31.74 change: +0.02

Stop Loss: 27.80
Target(s): 33.00, 34.75
Current Gain/Loss: + 7.1%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/03 update: Warning! The action in ACIW today looks like a short-term top. Shares spiked to $32.95 this morning and then gave it all back to close with a minor gain. Our first target to take profits is at $33.00 (should have been just under this level). More conservative traders will want to seriously consider taking profits right now! I am not suggesting new bullish positions. We should expect a correction toward the $30 level.

FYI: ACIW does have options but the spreads are very wide, which puts us at a significant disadvantage.

SMALL bullish positions

Current Position: Long ACIW stock @ $29.63

Entry on February 25 at $29.63
Earnings Date 04/28/11 (unconfirmed)
Average Daily Volume: 122 thousand
Listed on February 24th, 2010


AnnTaylor Stores - ANN - close: 24.17 change: +0.37

Stop Loss: 22.85
Target(s): 25.90, 27.85
Current Gain/Loss: + 1.3%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/03 update: ANN has rallied to technical resistance near its 50 and 100-dma, which have converged near the $24 level. I am not suggesting new bullish positions at this time.

Small Positions

Current Position: Long ANN stock @ $23.86

- or -

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

02/23 New stop loss @ 22.85
02/22 New stop loss @ 22.40

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


Baxter Intl. - BAX - close: 53.91 change: +1.92

Stop Loss: 49.90
Target(s): 54.90, 57.50
Current Gain/Loss: + 3.6%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/03 update: I am no longer worried about a bearish double top. BAX broke out higher with a +3.6% surge past recent resistance. More conservative traders may want to raise their stops. Our first target to take profits is at $54.90. If you prefer to buy on strength then this is your entry point. The plan was to keep our position size small to limit our risk.

FYI: The Point & Figure chart for BAX is bullish with a $73 target.

(small positions only)

Current Position: Long BAX stock @ 52.00

- or -

Long the May $55 call (BAX1121E55) Entry @ $1.05

Entry on February 22 at $52.00
Earnings Date 04/21/11 (unconfirmed)
Average Daily Volume: 5.8 million
Listed on February 19th, 2010


Boston Scientific Corp. - BSX - close: 7.56 change: +0.19

Stop Loss: 6.85
Target(s): 7.80, 8.90
Current Gain/Loss: + 4.7%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/03 update: After filling the gap yesterday, BSX rallied to a +2.5% gain. I am not suggesting new positions at this time. The plan is to keep our position size small to limit our risk.

- (Small Positions to Limit our Risk)

Current Position: Long BSX stock @ 7.22

- or -

Long the April $7.00 calls (BSX1116D7) Entry @ $0.44

Entry on February 28 at $ 7.22
Earnings Date 04/26/11 (unconfirmed)
Average Daily Volume: 16 million
Listed on February 26th, 2010


Gildan Activewear - GIL - close: 31.06 change: +0.09

Stop Loss: 28.99
Target(s): 34.85, 38.00
Current Gain/Loss: Unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see trigger

Comments:
03/03 update: The action in GIL today was underwhelming. There is no change from my prior comments. We have a trigger to buy the dip at $30.35 with a stop loss at $28.99, just under the simple 200-dma.

Trigger @ 30.35

Suggested Position: buy GIL stock @ 30.35

- or -

Buy the April $30 call (GIL1116D30)

03/01 Adjusted buy-the-dip trigger to $30.35
03/01 Adjusted stop loss to $28.99

Entry on March x at $xx.xx
Earnings Date 05/12/11 (unconfirmed)
Average Daily Volume: 634 thousand
Listed on February 28th, 2010


Intuit - INTU - close: 52.90 change: +1.12

Stop Loss: 49.90
Target(s): 54.75, 59.00
Current Gain/Loss: + 1.9%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/03 update: INTU was showing some relative strength with a +2.1% gain. Readers might want to buy dips near $52.00 now. I am raising our stop loss to $49.90.

Current Position: Long INTU stock @ $51.87

- or -

Long the March $52.50 calls (INTU1119C52.5) Entry @ $1.10

- or -

Long the April $55.00 calls (INTU1116D55) Entry @ $1.05

03/03 New stop loss @ 49.90

Entry on February 25 at $51.87
Earnings Date 05/19/11 (unconfirmed)
Average Daily Volume: 2.8 million
Listed on February 24th, 2010


Lincare Holdings Inc. - LNCR - close: 29.39 change: +0.31

Stop Loss: 27.95
Target(s): 29.90, 31.75
Current Gain/Loss: + 3.6%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/03 update: LNCR posted a +1.0% gain. I don't see any changes from my prior comments. I am not suggesting new bullish positions at this time.

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 11.5% 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

03/01 The exit number below is updated for Tuesday's open
02/28 Sell Half to lock in a gain. LNCR @ $29.52 (+4.0%)
02/28 Sell Half: March $29 calls bid $0.85 (+13.3%)
02/22 New stop loss @ 27.95
02/19 New stop loss @ 27.45
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


Maxim Integrated Products - MXIM - close: 27.74 change: +0.75

Stop Loss: 25.95
Target(s): 29.90, 33.50
Current Gain/Loss: + 0.2%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/03 update: Semiconductor stocks continue to be strong performers. MXIM gained +2.7%. The stock looks poised to breakout from its current consolidation pattern. I would be tempted to buy it here since it's past the $27.50 level or you could wait for a breakout past the $28.50 mark.

Current Position: Long MXIM stock @ $27.68

- or -

Long the April $30 calls (MXIM1116D30) Entry @ $0.35

Entry on February 28 at $27.68
Earnings Date 04/28/11 (unconfirmed)
Average Daily Volume: 3.3 million
Listed on February 26th, 2010


Omnicom Group Inc. - OMC - close: 49.99 change: +0.34

Stop Loss: 47.65
Target(s): 54.00
Current Gain/Loss: -0.1%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/03 update: You would have thought today was option expiration Friday the way shares of OMC just hugged the $50.00 mark. I remain bullish but the bounce over $50.00 hasn't been very convincing.

Current Position: Long OMC stock @ $50.04

- or -

Long the April $50 calls (OMC1116D50) Entry @ $1.65

Entry on February 28 at $50.04
Earnings Date 04/20/11 (unconfirmed)
Average Daily Volume: 2.8 million
Listed on February 26th, 2010


Signet Jewelers Limited - SIG - close: 45.10 change: +0.54

Stop Loss: 42.65
Target(s): 49.75
Current Gain/Loss: - 0.3%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/03 update: The market has its best one-day gain in months and yet SIG can't seem to breakout past resistance in the $45.00-45.50 zone. It looks like we were too early on this trade and would have been better off waiting for a move past $45.50. If you're looking for a new entry point wait for the breakout.

Current Position: Long SIG stock @ $45.25

- or -

Long the March $45 calls (SIG1119C45) Entry @ $1.85

02/28 New stop loss @ 42.65
02/28 Consider scaling back positions here.

Entry on February 18 at $45.25
Earnings Date 03/30/11 (unconfirmed)
Average Daily Volume: 436 thousand
Listed on February 16th, 2010


Sony Corp. - SNE - close: 36.36 change: +0.17

Stop Loss: 34.80
Target(s): 39.90, 43.50
Current Gain/Loss: - 0.9%
Time Frame: 8 to 10 weeks
New Positions: see below

Comments:
03/03 update: Nothing has changed for us with SNE. We can still buy the bounce here. Keep in mind our multi-week time frame. More conservative traders may want to wait for a close over $37.00.

FYI: The Point & Figure chart for SNE is bullish with a $53 target.

Current Position: long SNE stock @ $36.72

- or -

Long the April $38 calls (SNE1116D38) Entry @ $0.85

Entry on March 1 at $36.72
Earnings Date 05/12/11 (unconfirmed)
Average Daily Volume: 862 thousand
Listed on February 28th, 2010


Wyndham Worldwide - WYN - close: 31.19 change: +0.48

Stop Loss: 29.90
Target(s): 34.50, 37.50
Current Gain/Loss: - 0.8%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/03 update: It looks like WYN may not provide us with a dip near $30.00 any time soon. Readers will want to consider buying the bounce today or waiting for a new relative high past $32.00.

Current Position: Long WYN stock @ $31.45

- or -

Long the April $32 calls (WYN1116D32) Entry @ $1.15

Entry on February 28 at $31.45
Earnings Date 04/28/11 (unconfirmed)
Average Daily Volume: 3.2 million
Listed on February 26th, 2010


CLOSED BULLISH PLAYS

UnitedHealth Group - UNH - close: 44.79 change: +1.36

Stop Loss: 41.95
Target(s): 44.75
Current Gain/Loss: + 8.7%
Time Frame: 8 to 10 weeks
New Positions: see below

Comments:
03/03 update: Target achieved. UNH was upgraded this morning and the stock rallied to $44.89 intraday. Shares hit our final target at $44.75 closing this trade.

Closed Position: UNH stock @ $41.15, Exit $44.75 (+8.75%)

03/03: Target hit @ 44.75 (+8.75%)
02/26: New stop loss @ 41.95
02/22: New stop loss @ 41.80
02/17: New stop loss @ 41.49
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