Editor's Note:
The stock market produced a rather tepid session. Investors might be waiting for a week full of economic data. The big event will be the jobs report on Friday.

We did see EBAY hit our buy-the-dip trigger on its acquisition news.

-James

Current Portfolio:


BULLISH Play Updates

ACI Worldwide Inc. - ACIW - close: 32.43 change: +0.02

Stop Loss: 29.75
Target(s): --.--, 34.75
Current Gain/Loss: + 9.4%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/28 update: Monday was a quiet day for Wall Street and ACIW closed virtually unchanged on the session. I don't see any changes from my weekend comments. ACIW has short-term resistance at $33.00.

I am not suggesting new bullish positions at this time but that might change if we see anew bounce from the $31 level or its rising 30-dma. Our final target is $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

03/24 first exit was at $32.25 (+8.8%)
03/23 Sell half now! exit price at the open on 3/24
03/22 New stop loss @ 29.75, 1st Target adjusted to $32.85
03/19 New stop loss @ 29.35

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


Dick's Sporting Goods Inc. - DKS - close: 39.59 change: -0.32

Stop Loss: 36.75
Target(s): 42.25, 44.50
Current Gain/Loss: +0.5%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/28 update: Shares of DKS slipped toward short-term technical support at their 20-dma midday. Readers could buy this dip or wait for a pull back closer to the $38.50 area. I'm suggesting profit targets at $42.25 and $44.50.

FYI: The Point & Figure chart for DKS is bullish with a $65 target.

- Small Positions -

Current Position: Long DKS stock @ $39.39

- or -

Long the June $40 calls (DKS1118F40) Entry @ $2.35

Entry on March 21 at $39.39
Earnings Date 05/18/11 (unconfirmed)
Average Daily Volume: 1.6 million
Listed on March 19th, 2010


eBay Inc. - EBAY - close: 30.34 change: -1.36

Stop Loss: 29.49
Target(s): 34.90, 39.00
Current Gain/Loss: - 2.9%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
03/28 update: Our buy-the-dip play on EBAY is now open. This morning EBAY announced they would buy GSI Commerce (GSIC) for $29.25 a share (about $2.4 billion). As is normally the case, shares of the acquiring company went down. EBAY opened at $31.82 and dipped to $30.29 late this afternoon.

I was suggesting a trigger to buy the dip at $31.25 so the play is now open. More conservative traders could wait to buy a bounce from support near $30.00 instead. We have a stop loss at $29.49. Our first target is $34.90. We do not want to hold over EBAY's late April earnings report.

Current Position: Long EBAY stock @ $31.25

- or -

Long the May $33.00 calls (EBAY1121E33) Entry @ $0.75

chart:

Entry on March 28 at $31.25
Earnings Date 04/27/11 (unconfirmed)
Average Daily Volume: 10 million
Listed on March 24th, 2011


Ford Motor Co. - F - close: 14.86 change: -0.15

Stop Loss: 14.19
Target(s): 16.45, 17.45
Current Gain/Loss: - 1.2%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/28 update: There were a couple of articles out today about Ford choosing to idle one of its plants in Belgium for five days in April. This an attempt to avoid a shortage of parts from troubled Japanese manufacturers. Ford already had plans to idle the plant in May but moved it up to April. The company has also canceled overtime at a handful of plants around the globe.

Overall nothing has changed for our trade. Ford is nearing prior resistance and what should be support near $14.80. We can buy this dip or wait for a dip closer to $14.50 instead. Our targets are $16.45 and $17.45.

Current Position: Long F stock @ $15.05

- or -

Long the April $15 calls (F1116D15) Entry @ $0.33

Entry on March 24 at $15.05
Earnings Date 04/21/11 (unconfirmed)
Average Daily Volume: 82 million
Listed on March 15th, 2010


Gildan Activewear - GIL - close: 31.83 change: +0.14

Stop Loss: 29.70
Target(s): 34.85, 38.00
Current Gain/Loss: + 4.8%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/28 update: GIL displayed a little strength by posting a gain but the stock remains stuck in the $31.50-32.00 zone. I would expect another dip near the simple 40-dma. I am not suggesting new positions at this time.

Current Position: long GIL stock @ 30.35

- or -

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

03/19 New stop loss @ 29.70
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: 47.76 change: +0.50

Stop Loss: 44.75
Target(s): 49.85, 52.25
Current Gain/Loss: + 3.8%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
03/28 update: We are finally seeing some action in shares of JOSB. The stock briefly broke out above resistance at the $48.00 level but failed to hold these gains. Unfortunately the end effect looks like a failed rally pattern. I am not suggesting new positions since the company just announced that they will report earnings on March 31st. To avoid holding over the announcement we will plan to exit this trade on Wednesday, March 30th at the closing bell.

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

03/28 Prepare to exit on March 30th to avoid earnings.

Entry on March 7 at $45.99
Earnings Date 03/31/11 (confirmed)
Average Daily Volume: 355 thousand
Listed on March 5th, 2010


KLA-Tencor - KLAC - close: 47.30 change: +0.44

Stop Loss: 44.95
Target(s): 49.90
Current Gain/Loss: + 1.3%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
03/28 update: The SOX semiconductor index is hovering under short-term resistance at the 440 level. Meanwhile KLAC is hovering under resistance near $48.00 and its 30-dma. Both look poised for a little dip soon. I would consider new positions in KLAC on a dip into the $46.50-46.00 zone. Our target is $49.90.

Current Position: Long KLAC stock @ $46.65

- or -

Long the April $45 calls (KLAC1116D45) Entry @ $2.85

Entry on March 24 at $46.65
Earnings Date 04/28/11 (unconfirmed)
Average Daily Volume: 2.5 million
Listed on March 23rd, 2011


NVIDIA Corp. - NVDA - close: 19.32 change: +0.69

Stop Loss: 16.85
Target(s): 19.95, 21.75
Current Gain/Loss: + 6.2%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
03/28 update: Shares of NVDA were outperforming today thanks to an analyst upgrade. The stock tagged a new two-week high at $19.64 midday. I am not suggesting new bullish positions at current levels. Wait for a dip.

Our first target to take profits is at $19.95. Our second target is $21.75.

Prior Comments:
This is a very speculative, higher-risk trade. 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


Polycom Inc. - PLCM - close: 48.90 change: -0.17

Stop Loss: 46.90
Target(s): 54.85,
Current Gain/Loss: - 2.5%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/28 update: More conservative traders may want to raise their stop loss closer to the $48.00 level. PLCM has been drifting lower for a week now. Nimble traders could try and buy a dip near $48.00 or wait for a breakout past $50.50 before initiating new positions. Our upside target is $54.85.

- Small Bullish Positions -

Current Position: Long PLCM stock @ $50.18

- or -

Long the May $52.50 calls (PLCM1121E52.5) Entry @ $2.00

03/23 Entry price on the May $52.50 call is an estimate.

Entry on March 23 at $50.18
Earnings Date 04/21/11 (unconfirmed)
Average Daily Volume: 967 thousand
Listed on March 22nd, 2011


Patterson-UTI Energy Inc. - PTEN - close: 28.16 change: -0.19

Stop Loss: 25.95
Target(s): 31.50, 34.00
Current Gain/Loss: - 0.3%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
03/28 update: Traders did a little bit of profit taking in PTEN but the stock held the $28.00 level, which is positive. I would still open positions now given the bullish breakout above resistance at $28.00.

Prior Comments:
The $30.00 mark might offer some resistance but I'm targeting a climb to $31.50 and the $34.00 levels.

Current Position: Long PTEN stock @ 28.25

- or -

Long the May $30 calls (PTEN1121E30) Entry @ $0.95

Entry on March 25 at $28.25
Earnings Date 04/28/11 (unconfirmed)
Average Daily Volume: 2.8 million
Listed on March 17th, 2010


Ryder Systems Inc. - R - close: 49.35 change: -0.30

Stop Loss: 47.40
Target(s): 53.00
Current Gain/Loss: unopened
Time Frame: 3 to 5 weeks
New Positions: Yes, see trigger

Comments:
03/28 update: So far so good. We were expecting R to pull back from the $50.00 level. Our plan is to open bullish positions on a dip at $48.75. More conservative traders could wait for a dip closer to $48.00 instead. If triggered we'll use a stop at $47.40. Our target is the $53.00 level. We do not want to hold over the late April earnings report.

Trigger @ 48.75

Suggested Position: buy R stock @ 38.25

- or -

Buy the May $50 call (R1121E50) current ask $2.20

Entry on March x at $xx.xx
Earnings Date 04/21/11 (unconfirmed)
Average Daily Volume: 388 thousand
Listed on March 26th, 2011


Southwestern Energy Co. - SWN - close: 42.55 change: -0.94

Stop Loss: 38.49
Target(s): 44.85
Current Gain/Loss: unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see trigger

Comments:
03/28 update: SWN is finally starting to see some much overdue profit taking. Our plan is to open bullish positions on a dip at $40.55.

FYI: The Point & Figure chart for SWN recently broke out past resistance and is now signaling a bullish target of $51.

Buy-the-Dip Trigger @ $40.55

Suggested Position: Buy SWN stock @ 40.55

- or -

Buy the June $42 calls (SWN1118F42)

Entry on March x at $xx.xx
Earnings Date 04/28/11 (unconfirmed)
Average Daily Volume: 6.9 million
Listed on March 19th, 2010


Tesoro Corp - TSO - close: 26.55 change: -0.02

Stop Loss: 23.95
Target(s): 29.90
Current Gain/Loss: + 1.5%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
03/28 update: I heard some very bullish comments about the oil refiners today. Shares of TSO spent the session consolidating sideways. I would still consider new positions now or you can wait for a dip into the $26.00-25.00 zone.

Prior Comments:
Given the stock's recent volatility over the last month or so I would consider this a higher-risk trade. Keep your position size small. FYI: The most recent data listed short interest in TSO at more than 13% of the stock's 141 million-share float. A breakout past resistance could spark another short squeeze.

Current Position: Long TSO stock @ 26.15

- or -

Long the May $27.00 calls (TSO1121E27) Entry @ $1.60

Entry on March 24 at $26.15
Earnings Date 04/25/11 (unconfirmed)
Average Daily Volume: 8.2 million
Listed on March 21st, 2010


Williams Companies, Inc. - WMB - close: 30.64 change: -0.49

Stop Loss: 29.45
Target(s): 34.50
Current Gain/Loss: - 1.9%
Time Frame: 6 to 8 weeks
New Positions: Yes, see below

Comments:
03/28 update: It was not a great day for our WMB play. Shares opened at $31.26 and then spent the rest of the session falling lower. The move today has painted a bearish engulfing candlestick pattern. These are normally one-day reversal patterns. I would expect WMB to dip toward $30.00 and possibly its 30-dma. Any farther and we'll get stopped out. Readers may want to wait for a dip (or bounce) near $30.00 before considering new positions.

Meanwhile in the news this morning WMB issued a press release about their long-term agreement to produce 17,000 barrels a day of ethane and ethylene for NOVA Chemicals Corp in Canada. WMB will spent CA$311 million to expand its facilities in Alberta to actually produce these two chemicals. Operations are expected to start in early 2013.

Current Position: long WMB stock @ $31.26

- or -

Long the May $30 calls (WMB1121E30) Entry @ $2.10

Entry on March 28 at $31.26
Earnings Date 05/05/11 (unconfirmed)
Average Daily Volume: 7.0 million
Listed on March 26th, 2011


Weyerhaeuser Co. - WY - close: 24.42 change: +0.20

Stop Loss: 23.40
Target(s): 27.25, 29.25
Current Gain/Loss: - 1.0%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
03/28 update: We have been expecting WY to bounce near $24.00 or near its 50-dma. Monday's session certainly looks like a rebound off the $24.00 level. Readers could use this as an entry point.

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

03/24 New stop @ 23.40

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

Overseas Shipholding Group - OSG - close: 31.47 change: -0.57

Stop Loss: 33.55
Target(s): 27.75, 25.25
Current Gain/Loss: + 2.2%
Time Frame: 8 to 9 weeks
New Positions: see below

Comments:
03/28 update: OSG has failed near resistance. This move today looks like a new entry point for bearish positions. Readers might want to tighten their stop loss to reduce their risk.

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