Editor's Note:
Stocks were bouncing on Thursday but gains were mixed. Energy stocks performed well thanks to an advance in crude oil futures. I don't see a lot of changes from my prior comments.

-James

Current Portfolio:


BULLISH Play Updates

ACI Worldwide Inc. - ACIW - close: 30.59 change: -0.02

Stop Loss: 27.80
Target(s): 33.00, 34.75
Current Gain/Loss: + 3.2%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/17 update: Thursday proved to be a forgettable session for ACIW with the stock lost in a very narrow trading range. I remain cautious on the market overall. While ACIW is holding up pretty well I would hesitate to open new positions. You could try buying dips near $30 or the 30-dma. Our bullish targets are $33.00 and $34.75.

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


Ford Motor Co. - F - close: 14.26 change: +0.08

Stop Loss: 14.19
Target(s): 16.45, 17.45
Current Gain/Loss: unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see trigger

Comments:
03/17 update: Ford is consolidating sideways. There seems to be too much uncertainty over how or if the situation in Japan will affect auto production here in the U.S. There was some concern today that shut down parts suppliers in Japan might stall production for American cars.

Currently our plan is to open bullish positions at $15.05. If we see Ford close under Tuesday's low ($14.20) then I'll probably drop it as a bullish candidate. Should we get triggered at $15.05 we'll use a stop at $14.19. Our targets are $16.45 and $17.45.

Trigger @ $15.05

Suggested Position: Buy F stock @ $15.05

- or -

Buy the April $15 calls (F1116D15) current ask $0.50

Entry on March x at $xx.xx
Earnings Date 04/21/11 (unconfirmed)
Average Daily Volume: 82 million
Listed on March 15th, 2010


Gildan Activewear - GIL - close: 30.97 change: -0.12

Stop Loss: 28.99
Target(s): 34.85, 38.00
Current Gain/Loss: + 2.0%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/17 update: The early morning strength in GIL faded and shares spent the day hovering under the $31.00 level. I don't see any changes from my prior comments. I'm suggesting readers stay cautious. More conservative traders might want to raise their stops toward the $29.50 or $29.90 levels to reduce their risks. Currently our stop is at $28.99.

Current Position: long GIL stock @ 30.35

- or -

Long the April $30 call (GIL1116D30) Entry @ $1.60

03/08 Triggered $ 30.35
03/01 Adjusted buy-the-dip trigger to $30.35
03/01 Adjusted stop loss to $28.99

Entry on March 8 at $30.35
Earnings Date 05/12/11 (unconfirmed)
Average Daily Volume: 634 thousand
Listed on February 28th, 2010


Jos. A Bank Clothiers Inc. - JOSB - close: 45.71 change: -0.75

Stop Loss: 44.75
Target(s): 49.85, 52.25
Current Gain/Loss: - 0.6%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
03/17 update: JOSB continues to chop around its $45-48 trading range. The stock was underperforming today with a -1.6% decline. Readers could prepare to buy another dip near support around the $45.00 level soon.

FYI: The most recent data listed short interest at almost 25% of JOSB's 27.3 million-share float. There is definitely room for some short covering here. Plus, the Point & Figure chart for JOSB is bullish with a $62 target.

- Small Bullish Positions -

Current Position: Long JOSB stock @ $45.99

- or -

Long the April $50 calls (JOSB1116D50) Entry @ $0.95

Entry on March 7 at $45.99
Earnings Date 03/30/11 (unconfirmed)
Average Daily Volume: 355 thousand
Listed on March 5th, 2010


NVIDIA Corp. - NVDA - close: 17.86 change: +0.33

Stop Loss: 16.85
Target(s): 19.95, 21.75
Current Gain/Loss: - 1.8%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
03/17 update: NVDA displayed a little volatility this morning but traders continue to buy the dips. You could launch bullish positions now and raise your stop loss toward this week's low near $17.01 or you could wait for NVDA to trade over $18.35 before initiating new bullish positions.

Prior Comments:
This is a very speculative, higher-risk trade. Our upside targets to take profits are at $19.95 and $21.75. Remember to keep your positions small to limit your risk.

- small bullish positions -

Current Position: long NVDA stock @ $18.19

- or -

Long the April $20 calls (NVDA1116D20) Entry @ $0.72

Entry on March 14 at $18.19
Earnings Date 05/12/11 (unconfirmed)
Average Daily Volume: 35 million
Listed on March 12th, 2010


Weyerhaeuser Co. - WY - close: 24.32 change: +0.34

Stop Loss: 22.95
Target(s): 27.25, 29.25
Current Gain/Loss: - 1.4%
Time Frame: 4 to 6 weeks
New Positions: Yes, see below

Comments:
03/17 update: WY is consolidating sideways near the $24 level. I would be tempted to buy the stock here but there is still a good chance WY might retest technical support at its rising 50-dma. Patient traders may want to wait for that dip (50-dma is currently near $23.30).

Prior Comments:
Keep your positions small to limit your risk.

Suggested Position: long WY stock @ $24.68

- or -

Long the July $25 calls (WY1116G25) Entry @ $1.64

Entry on March 16 at $24.68
Earnings Date 04/29/11 (unconfirmed)
Average Daily Volume: 6.4 million
Listed on March 15th, 2010


BEARISH Play Updates

Lennar Corp. - LEN - close: 19.29 change: +0.17

Stop Loss: 20.25
Target(s): 16.75
Current Gain/Loss: + 0.9%
Time Frame: 1 to 2 weeks
New Positions: see below

Comments:
03/17 update: LEN saw a small gap higher at the open but the rally stalled near the $19.50 level. I remain bearish and don't see any changes from my prior comments. Our target is the $16.75 level, which is above the 200-dma. I would keep our position size small to limit our risk or consider buying the puts so you know exactly how much capital you have at risk.

Please note that this is a short-term play. Earnings are due out in late March. LEN could report a week from now but the date is unconfirmed.

FYI: I do want to point out that the most recent data listed short interest on LEN at 21% of the 159 million-share float. That is a high amount of short interest and raises the risk of a short squeeze although we are certainly not expecting a short squeeze with the market in decline.

- Small Bearish Positions -

Current Position: short LEN stock @ 19.47

- or -

Long the April $19 puts (LEN1116P19) Entry @ $0.80

Entry on March 17 at $19.47
Earnings Date 03/24/11 (unconfirmed)
Average Daily Volume: 4.3 million
Listed on March 16th, 2010


Overseas Shipholding Group - OSG - close: 30.13 change: -0.19

Stop Loss: 33.55
Target(s): 27.75, 25.25
Current Gain/Loss: + 6.4%
Time Frame: 8 to 9 weeks
New Positions: see below

Comments:
03/17 update: The action in OSG today was encouraging. The stock's bounce attempt quickly failed this morning and OSG closed with another loss while the rest of the market bounced. OSG is clinging to support near $30.00. It could still see an oversold bounce toward the $31.50-32.00 zone, which we could use as a new entry point.

Our plan was to use small positions to limit our risk. The P&F chart is forecasting a $25 target.

- Small Bearish Positions -

Current Position: Short OSG stock @ $32.20

- or -

Long the April $30 PUTS (OSG1116P30) Entry @ $0.75

03/16 New stop loss @ 33.55

Entry on March 11 at $32.20
Earnings Date 05/04/11 (unconfirmed)
Average Daily Volume: 705 thousand
Listed on March 10th, 2010