Editor's Note:
Shares of JOSB hit new all-time highs following a better than expected earnings report. Both our exit targets for the JOSB trade were hit. Our new play on AN has been triggered. Plus, our Ryder (R) trade has been triggered.

-James

Current Portfolio:


BULLISH Play Updates

ACI Worldwide Inc. - ACIW - close: 32.90 change: +0.18

Stop Loss: 29.75
Target(s): --.--, 34.75
Current Gain/Loss: +11.4%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/30 update: ACIW has finally made it back to its early March highs near $33.00. Shares hovered under this resistance almost all day long. Readers may want to seriously consider an early exit right here to lock in gains.

Currently we're aiming for the $34.75 level but plan to exit ahead of the late April earnings report. I am not suggesting new positions at this time.

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


AutoNation, Inc. - AN - close: 35.71 change: +1.04

Stop Loss: 33.49
Target(s): 38.00, 39.75
Current Gain/Loss: + 1.3%
Time Frame: 3 to 5 weeks
New Positions: see below

Comments:
03/30 update: Our new play in AN is already opened. Shares rallied past resistance at $35.00, hit our trigger to open positions at $35.25, and continued until it trade just over the $36.00 level. AN settled with a +2.99% gain. If you missed our entry point I would consider waiting for a dip back toward the $35.25-35.00 area, which should now be new support.

Our upside targets are $38.00 and $39.75 although that might be a little optimistic. We do not want to hold over the late April earnings report.

Current Position: Long AN stock @ $35.25

- or -

Long the May $36 calls (AN1121E36) Entry @ $1.15

chart:

Entry on March 30 at $35.25
Earnings Date 04/26/11 (unconfirmed)
Average Daily Volume: 972 thousand
Listed on March 29th, 2011


Dick's Sporting Goods Inc. - DKS - close: 40.33 change: +0.49

Stop Loss: 36.75
Target(s): 42.25, 44.50
Current Gain/Loss: +2.3%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/30 update: DKS has bounced back above the $40.00 level. The high today was $40.46. Readers could wait for a move past this point to open new bullish positions. 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: 31.63 change: +0.55

Stop Loss: 29.49
Target(s): 34.90, 39.00
Current Gain/Loss: + 1.2%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
03/30 update: EBAY added +1.7% but the stock is nearing potential resistance near $32 and its 30 and 50-dma. I'd consider new positions on dips near the $31.00-30.50 zone. 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

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: +0.02

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:
03/30 update: Hmm... Ford has been going nowhere the last couple of days. Yesterday it was down two cents. Today it's up two cents. Given the market's widespread strength Ford's lack of participation is discouraging. Readers may want to wait for a new rally past $15.00 before considering new bullish positions. 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: 32.73 change: +0.66

Stop Loss: 29.70
Target(s): 34.85, 38.00
Current Gain/Loss: + 7.8%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/30 update: It looks like our patience might get rewarded. GIL outperformed the market today with a +2% gain. Shares also breakout past resistance near the $32 area. There is still some congestion near the $33 level. 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


KLA-Tencor - KLAC - close: 47.62 change: +0.08

Stop Loss: 44.95
Target(s): 49.90
Current Gain/Loss: + 2.0%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
03/30 update: The rally in the semiconductor stocks seemed to stall a bit. KLAC is still trading under resistance near $48.00. Wait for a dip near $46.50 before considering new bullish positions. 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: 18.45 change: -0.72

Stop Loss: 16.85
Target(s): 19.95, 21.75
Current Gain/Loss: + 1.4%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
03/30 update: Uh-oh! Is NVDA reversing on us? Shares were definitely underperforming with a -3.7% decline. The stock found support right where we expected near the $18.00 area. It seems the headlines were ganging up on NVDA today. First there was one analyst firm that downgraded NVDA's earnings estimates over worries about PC sales. Then the story broke that Motorola's "Droid Bionic" smartphone for Verizon's 4G network might get delayed. That had a negative impact on both NVDA's stock and MMI's stock.

Aggressive traders could buy this dip but if you do I would consider a tighter stop close to the $18 level. 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: 51.59 change: +1.08

Stop Loss: 46.90
Target(s): 54.85,
Current Gain/Loss: + 2.8%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/30 update: The rebound in PLCM continues and shares closed at new multi-year highs. I would still consider new positions here or you could wwait for a dip near the $50.50-50.00 zone. 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: 28.91 change: +0.71

Stop Loss: 25.95
Target(s): 31.50, 34.00
Current Gain/Loss: + 2.3%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
03/30 update: PTEN popped to a new relative high. I would use dips in the $28.50-28.00 zone as an entry point.

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: 50.18 change: +0.33

Stop Loss: 47.40
Target(s): 53.00
Current Gain/Loss: - 0.1%
Time Frame: 3 to 5 weeks
New Positions: see below

Comments:
03/30 update: Yesterday we added a breakout trigger to open positions at $50.25. R hit this level today. I would still consider new positions now or on a dip near the $49 area. Our target is the $53.00 level. We do not want to hold over the late April earnings report.

Current Position: Long R stock @ $50.25

- or -

Long the May $50 call (R1121E50) Entry @ $2.55

chart:

Entry on March 30 at $50.25
Earnings Date 04/21/11 (unconfirmed)
Average Daily Volume: 388 thousand
Listed on March 26th, 2011


Southwestern Energy Co. - SWN - close: 43.24 change: +0.74

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

Comments:
03/30 update: SWN was showing some relative strength today. Shares tagged a new relative high near $44 and closed up +1.7%. We are still waiting for a correction but may end up dropping SWN soon. 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: 27.76 change: +0.63

Stop Loss: 23.95
Target(s): 29.90
Current Gain/Loss: + 6.1%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
03/30 update: TSO is still looking strong. Shares displayed relative strength with a +2.3% gain and another new relative high. Our target to exit is $29.90. Readers may want to adjust their stop loss higher.

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: 31.45 change: +0.70

Stop Loss: 29.45
Target(s): 34.50
Current Gain/Loss: + 0.6%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/30 update: After yesterday's intraday bounce at WMB's 10 and 20-dma the stock continued to rally on Wednesday. Shares hit a new two-year high this afternoon at $31.61. I would still consider new positions at current levels.

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: 24.62 change: -0.01

Stop Loss: 23.40
Target(s): 27.25, 29.25
Current Gain/Loss: + 0.2%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
03/30 update: The action in WY today was pretty disappointing. Shares closed virtually unchanged on the session. The relative weakness is a concern. Let's see what happens tomorrow.

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: 32.78 change: +0.69

Stop Loss: 33.55
Target(s): 27.75, 25.25
Current Gain/Loss: - 1.8%
Time Frame: 8 to 9 weeks
New Positions: see below

Comments:
03/30 update: Our bearish play on OSG just turned negative on us. The breakout past the $32 area is a concern but shares saw the rally stall at their 50-dma this afternoon. A failed rally/reversal move here could be used as a new entry point. Conservative traders could adjust their stop closer to the $33.00 level.

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


CLOSED BULLISH PLAYS

Jos. A Bank Clothiers Inc. - JOSB - close: 50.55 change: +1.83

Stop Loss: 44.75
Target(s): 49.85, 52.25
Current Gain/Loss: +13.6%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
03/30 update: I have to warn you. We were lucky with this JOSB play. Normally we do not want to hold over earnings. The information available suggested the company was reporting on March 31st. Instead they reported this morning. Thankfully the numbers were good but they could have been a disappointment and instead of gapping higher JOSB could have gapped lower.

JOSB's results today were three cents better than Wall Street's estimate at $1.44. Revenues grew almost +14% and came in better than analysts expected.

We were planning to exit tonight at the closing bell to avoid earnings but the action today solved that problem. We had exit targets at $49.85 and at $52.25. Well JOSB gapped open at $51.99, so we would have taken profits immediately. Then JOSB rallied to $52.50, which means the play was closed at our second target ($52.25).

- Small Bullish Positions -

Closed Position: Long JOSB stock @ $45.99, see below

- or -

April $50 calls (JOSB1116D50) Entry @ $0.95

03/30 1st & Final Targets hit. JOSB gapped open above our first target. First exit @ 51.99 (+13%). Option @ $2.55 (+168%).
Exit at final target @ 52.25 (+13.6%). Option bid $2.65 (+178.9%)
03/29 Plan to exit tomorrow at the closing bell.
03/28 Prepare to exit on March 30th to avoid earnings.

chart:

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