Editor's Note:
The markets are still lacking leadership. Stocks were unable to build on their early morning gains. PCAR hit our buy-the-dip entry point. Our OSG bearish trade is accelerating lower.

-James

Current Portfolio:


BULLISH Play Updates

ACI Worldwide Inc. - ACIW - close: 31.98 change: -0.46

Stop Loss: 30.90
Target(s): --.--, 34.75
Current Gain/Loss: + 7.9%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
04/11 update: There are no surprises here. We've been expecting a dip toward $32.00. Once again I am suggesting more conservative traders to take profits early. I am not suggesting new positions.

Officially we're aiming for the $34.75 level but plan to exit ahead of the late April earnings report.

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

04/02 New stop loss @ 30.90
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: 33.95 change: -0.90

Stop Loss: 33.49
Target(s): 38.00, 39.75
Current Gain/Loss: - 3.6%
Time Frame: 3 to 5 weeks
New Positions: see below

Comments:
04/11 update: I cautioned readers to expect AN to dip toward the $34.00-33.50 zone. Shares really underperformed today with a -2.5% decline. Readers can buy this dip or better yet wait for a bounce before considering new positions.

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

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


Aon Corp. - AON - close: 53.37 change: +0.10

Stop Loss: 50.90
Target(s): 59.00
Current Gain/Loss: -0.7%
Time Frame: 4 to 5 weeks
New Positions: see below

Comments:
04/11 update: AON spiked lower this morning but managed to close the session in positive territory. The good news is that AON did not confirm the bearish reversal pattern from Friday. However, I would stay cautious on launching new positions. If you do, keep you position size very small. Our time frame is the end of April since earnings are due out in early May. FYI: The Point & Figure chart for AON is bullish with a $90 target.

Current Position: Long AON stock @ $53.76

- or -

Long the May $55.00 call (AON1121E55) Entry @ $0.95

Entry on April 4 at $53.76
Earnings Date 05/02/11 (unconfirmed)
Average Daily Volume: 2.2 million
Listed on April 2nd, 2011


Danaher Corp. - DHR - close: 51.73 change: +0.18

Stop Loss: 49.95
Target(s): 55.90
Current Gain/Loss: - 1.6%
Time Frame: about 3 weeks
New Positions: see below

Comments:
04/11 update: DHR spent Monday consolidating sideways and actually posted a gain. Readers could wait for a rally past $52.00 as a potential entry point since a rise past $52.00 would break the short-term trend of lower highs. We have less than two weeks with earnings coming up on April 21st. I'm listing a stop loss at $49.95 but more conservative traders might want to use a stop closer to the $51.00 level (the $50.80 mark would work).

Current Position: long DHR stock @ $52.57

- or -

Long the May $55 call (DHR1121E55) entry @ $0.70

Entry on April 4 at $52.57
Earnings Date 04/21/11 (confirmed)
Average Daily Volume: 2.9 million
Listed on April 2nd, 2011


Dick's Sporting Goods Inc. - DKS - close: 40.98 change: -0.09

Stop Loss: 38.45
Target(s): 42.75, 44.75
Current Gain/Loss: +4.0%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
04/11 update: There is no change from my weekend comments on DKS. The stock is still consolidating sideways. Wait for another dip or bounce in the $40.50-40.00 zone before considering new bullish positions. More conservative traders might want to tighten their stop even higher.

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

04/09 New stop loss @ 38.45, New targets @ 42.75 and $44.75
04/02 New stop loss @ 37.45

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: 31.19 change: +0.05

Stop Loss: 29.90
Target(s): 34.90, --.--
Current Gain/Loss: - 0.1%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
04/11 update: Traders bought the dip near $31.00 again in EBAY. I don't see any changes from my weekend comments. More conservative traders may want to consider an early exit now to avoid and/or minimize any losses. I am not suggesting new positions at this time.

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 (confirmed)
Average Daily Volume: 10 million
Listed on March 24th, 2011


Ford Motor Co. - F - close: 14.86 change: -0.47

Stop Loss: 14.45
Target(s): 16.45, 17.45
Current Gain/Loss: - 1.2%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
04/11 update: Shares of Ford plunged -3% on Monday and closed under technical support at its 50-dma and under the $15.00 mark. This appears to be an overreaction to news that Ford said the disaster in Japan could force a stoppage of production of vehicles for their Asian operations. This is in addition to the supply disruption of paints for certain red and black hues here in the U.S. Yet overall Ford doesn't expect any material impact from the earthquake disruptions.

I would take advantage of this decline and use it as an entry point to buy Ford or calls on the stock. 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: 32.02 change: -0.35

Stop Loss: 30.95
Target(s): 34.85, 38.00
Current Gain/Loss: + 5.5%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
04/11 update: I have been warning readers to expect GIL to dip toward support near $32.00. Shares finally hit this level today. Aggressive traders could use this dip as an entry point but I am not suggesting new positions at this time.

FYI: In the news this morning GIL announced a deal to buy Gold Toe Moretz Holdings Corp. for $350 million. Gold Toe Moretz manufactures athletic, casual and dress socks.

Current Position: long GIL stock @ 30.35

- or -

April $30 call (GIL1116D30) Entry @ $1.60, Exit @ 2.20 (+37.5%)

04/09 New stop loss @ 30.95
04/09 Exit the April $30 calls now! Option @ +37.5%
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


iShares Gold Trust - IAU - close: 14.30 change: -0.09

Stop Loss: 13.75
Target(s): 15.75
Current Gain/Loss: + 0.0%
Time Frame: 9 to 12 weeks
New Positions: see below

Comments:
04/11 update: A bounce in the U.S. dollar sparked a little profit taking in gold. The IAU opened at $14.36 and settled down -0.6%. I would still consider bullish positions now or you can wait for dips closer to $14.00.

I am adding a call option as an alternative to buying the ETF. See below.

We do want to keep our position size small. Going long anything gold these days is a very crowded trade. If and when it reverses gold could drop quickly. Until then the trend is up. Our first upside target is $15.75.

- Small Positions Only -

Current Position: Long the IAU @ $14.36

- or -

BUY the July $14.00 call (IAU1116G14) current ask $0.65

Entry on April 11 at $14.36
Earnings Date --/--/--
Average Daily Volume: 3.8 million
Listed on April 9th, 2011


NVIDIA Corp. - NVDA - close: 17.32 change: -0.23

Stop Loss: 16.85
Target(s): 19.95, 21.75
Current Gain/Loss: - 4.7%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
04/11 update: NVDA is inching closer and closer toward support near the $17.00 level. I would still consider new bullish positions now or you can wait for shares to actually bounce from $17.00 first. Buying NVDA now is somewhat aggressive. More conservative traders will want to consider an early exit instead. Our April calls are pretty much out of luck at this point unless NVDA suddenly rockets higher.

Our first target for NVDA 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


PACCAR Inc. - PCAR - close: 50.72 change: -0.56

Stop Loss: 48.95
Target(s): 54.75, 57.00
Current Gain/Loss: - 0.5%
Time Frame: two or three weeks
New Positions: see below r

Comments:
04/11 update: Our buy-the-dip trigger in PCAR has been hit. Shares fell toward technical support at their simple 50-dma. Our plan was to launch bullish positions on a dip at $51.00. I would still consider new positions now or you can look for a dip closer to the $50.00 mark instead.

This could end up being a really short-term trade with April earnings coming up quick. Our first target is $54.75.

Current Position: Long PCAR stock @ 51.00

- or -

Long the May $49.70 call (PCAR1121E49.70) Entry @ $3.00

chart:

Entry on April 11 at $51.00
Earnings Date 04/19/11 (unconfirmed)
Average Daily Volume: 2.8 million
Listed on April 6th, 2011


Patterson-UTI Energy Inc. - PTEN - close: 28.69 change: -0.54

Stop Loss: 26.75
Target(s): 31.50, 34.00
Current Gain/Loss: + 1.5%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
04/11 update: Energy stocks struggled today with the drop in oil prices. I would wait for another dip near $28.00 before considering new positions.

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

04/09 New stop loss @ $26.75

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: 49.97 change: +0.25

Stop Loss: 47.95
Target(s): 53.00
Current Gain/Loss: - 0.5%
Time Frame: 3 to 5 weeks
New Positions: see below

Comments:
04/11 update: There was no follow through on R's big drop on Friday. We can use this dip near $50.00 as an entry point. However, a dip closer to $49.00 and its 50-dma would be a more attractive entry point. 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

04/09 New stop loss @ 47.95

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


SAIC, Inc. - SAI - close: 17.44 change: +0.19

Stop Loss: 16.75
Target(s): 18.40
Current Gain/Loss: + 0.6%
Time Frame: 8 to 9 weeks
New Positions: see below

Comments:
04/11 update: SAI delivered a nice bounce (+1.1%) off short-term support near $17.20. This looks like a new entry point but given the market's overall weakness we may want to wait for a dip closer to $17.00 before initiating new positions.

Our first bullish target is $18.40. Keep in mind that SAI does not move very fast. While the stock does have options I prefer the stock to avoid the time decay on the options. I will list the August $18 calls for more aggressive traders.

Current Position: long SAI stock @ $17.33

- or -

Long the August $18.00 call (SAI1120H18) entry @ $0.55

Entry on April 6 at $17.33
Earnings Date 06/02/11 (unconfirmed)
Average Daily Volume: 2.4 million
Listed on April 5th, 2011


Williams Companies, Inc. - WMB - close: 30.68 change: -0.15

Stop Loss: 29.90
Target(s): 34.50
Current Gain/Loss: - 1.8%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
04/11 update: WMB is still consolidating sideways. I don't see any changes from my weekend comments. I am not suggesting new positions at this time. More conservative traders may want to exit early to minimize any losses.

Current Position: long WMB stock @ $31.26

- or -

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

04/09 New stop loss @ 29.90

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


BEARISH Play Updates

Overseas Shipholding Group - OSG - close: 29.66 change: -1.51

Stop Loss: 32.25
Target(s): 27.75, 25.25
Current Gain/Loss: + 7.8%
Time Frame: 8 to 9 weeks
New Positions: see below

Comments:
04/11 update: OSG accelerated lower on Monday. The stock lost -4.8% and closed under round-number support at $30.00. Volume was strong on the sell-off, which is not healthy. Readers could use this as a new entry point for bearish positions but if you choose to buy put options, don't buy Aprils. Our April puts will expire after Friday so we will need to exit these in the next couple of days.

Please note our new stop loss at $32.25. Our first target is $27.75.

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

04/11 New stop loss @ 32.25
04/05 New stop loss @ 33.10
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