Editor's Note:
We are closing two trades (F & R) tonight to avoid holding over their earnings report.

-James

Current Portfolio:


BULLISH Play Updates

Autodesk Inc. - ADSK - close: 45.55 change: +0.67

Stop Loss: 41.90
Target(s): 48.50
Current Gain/Loss: unopened
Time Frame: 3 to 4 weeks
New Positions: Yes, see trigger

Comments:
04/25 update: ADSK was a little stronger than I expected. Shares rallied to a new two-year high. Aggressive traders can buy the breakout. I am moving our buy-the-dip entry point from $43.75 to $44.25. Our target is $48.50 but we'll plan on exiting ahead of the mid May earnings report.

Trigger @ $44.25

Suggested Position: buy ADSK stock @ $43.75

- or -

Buy the May $45 calls (ADSK1121E45) current ask $1.60

Entry on April x at $xx.xx
Earnings Date 05/19/11 (unconfirmed)
Average Daily Volume: 2.1 million
Listed on April 23rd, 2011


Sothebys Holding - BID - close: 49.56 change: -1.00

Stop Loss: 47.45
Target(s): 54.90
Current Gain/Loss: - 1.5%
Time Frame: 2 to 3 weeks
New Positions: see below

Comments:
04/25 update: BID displayed some relative weakness this morning but traders bought the dip at its rising 50-dma again. This intraday bounce off its lows looks like another entry point to launch positions. Or you can wait for a new relative high over $50.56. Our target is $54.90. We do not want to hold positions over the early May earnings report. FYI: The Point & Figure chart for BID is bullish with an $80 target.

Current Position: long BID stock @ $50.35

- or -

Long the May $50 calls (BID1121E50) entry @ $2.60

Entry on April 21 at $50.35
Earnings Date 05/05/11 (unconfirmed)
Average Daily Volume: 1.0 million
Listed on April 20th, 2011


Corn Products Intl. - CPO - close: 53.80 change: -0.27

Stop Loss: 50.75
Target(s): 57.50
Current Gain/Loss: + 0.9%
Time Frame: just over 2 weeks
New Positions: see below

Comments:
04/25 update: The lack of action in the wider market left CPO to drift sideways. Readers may want to wait for another dip near $53.00 before initiating new positions. Our target is $57.50. However, we will plan on exiting ahead of the early May earnings report.

Let's keep our position size small since CPO has a trendline of higher highs it has yet to break through. FYI: The Point & Figure chart for CPO is bullish with a $67 target.

(Small Positions)

Current Position: long CPO stock @ $53.32

- or -

Long the May $55.00 call (CPO1121E55) Entry @ $1.05

Entry on April 20 at $53.32
Earnings Date 05/02/11 (confirmed)
Average Daily Volume: 771 thousand
Listed on April 19th, 2011


Discover Financial Services - DFS - close: 24.50 change: -0.26

Stop Loss: 22.45
Target(s): 24.90
Current Gain/Loss: unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see trigger

Comments:
04/25 update: There is no change from my weekend comments. At the moment we have a trigger to open bullish positions on a dip at $23.00. However, I'm considering an alternative entry on a dip or a bounce near its rising 30-dma or even higher near $24.40ish. Another alternative would be a close over $25.15.

Buy-the-Dip Trigger @ $23.00

Suggested Position: buy DFS stock @ $22.55

- or -

Buy the May $24 calls (DFS1121E24)

Entry on April x at $xx.xx
Earnings Date 06/23/11 (unconfirmed)
Average Daily Volume: 5.9 million
Listed on April 12th, 2011


Dick's Sporting Goods Inc. - DKS - close: 41.63 change: +0.09

Stop Loss: 38.95
Target(s): 42.75, 44.75
Current Gain/Loss: +5.6%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
04/25 update: DKS eked out a gain but is still trading under resistance near $42.00. We have two targets. Our first target is $42.75. Our second target is $44.75. You could certainly raise your target but we do not want to hold over the mid May earnings report.

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

04/16 New stop loss @ 38.95
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


FLIR Systems - FLIR - close: 34.19 change: +0.00

Stop Loss: 32.40
Target(s): 37.25
Current Gain/Loss: + 3.2%
Time Frame: less than two weeks.
New Positions: see below

Comments:
04/25 update: Monday proved to be a quiet day for the stock market and FLIR was a great example. The stock closed unchanged on the session. There is no change from my weekend comments.

Technically I would look for a dip near $33.50 before considering new positions. However, you need to consider our time frame. Earnings are coming up on April 29th and we do not want to hold over the report.

Remember, we want to use small positions to limit our risk. Our first target is $37.25.

- Small Bullish Positions -

Current Position: Long FLIR stock @ $33.12

- or -

Long the May $34 calls (FLIR1121E34) Entry @ $0.60

Entry on April 18 at $33.12
Earnings Date 04/29/11 (confirmed)
Average Daily Volume: 926 thousand
Listed on April 16th, 2011


iShares Gold Trust - IAU - close: 14.72 change: +0.02

Stop Loss: 13.75
Target(s): 15.75
Current Gain/Loss: + 2.5%
Time Frame: 9 to 12 weeks
New Positions: see below

Comments:
04/25 update: Warning! Gold spiked higher at the open and then faded quickly lower. This could be a short-term top for gold. I would expect a dip. Longer-term the trend is still very much higher. I would wait for a dip before considering new bullish positions.

We do want to keep our position size small. Our first upside target is $15.75.

FYI: If the IAU moves too slowly for you then check out the double-long (2x) gold ETF (symbol: DGP).

- Small Positions Only -

Current Position: Long the IAU @ $14.36

- or -

Long the July $14.00 call (IAU1116G14) Entry @ $0.60

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


Keynote Systems Inc. - KEYN - close: 21.19 change: +0.11

Stop Loss: 20.45
Target(s): 22.25, 24.75
Current Gain/Loss: +4.6%
Time Frame: less than two weeks
New Positions: see below

Comments:
04/25 update: The midday gains in KEYN faded and shares closed up +0.5%. Tomorrow is our last day. The plan is to exit on April 26th at the closing bell to avoid holding over earnings.

Please note our new stop loss at $20.45.

This remains an aggressive, higher-risk trade.

- Small Bullish Positions -

Current Position: Long KEYN stock @ $20.25

- or -

Long the May $20 calls (KEYN1121E20) entry @ $1.65

04/25 New stop loss @ 20.45
04/20 New stop loss @ 19.85
04/16 New stop loss @ 19.45
04/15 1st Target Hit @ 22.25 (+9.8%), Option @ +18.1%

Entry on April 14 at $20.25
Earnings Date 04/26/11 (confirmed)
Average Daily Volume: 193 thousand
Listed on April 13th, 2011


MGM Resorts - MGM - close: 13.34 change: -0.05

Stop Loss: 12.99
Target(s): 13.95
Current Gain/Loss: - 3.3%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
04/25 update: I am losing patience for our MGM trade. I am suggesting we cut our losses and exit this trade tomorrow (Tuesday) at the closing bell.

Our plan was to use small positions to limit our risk.

(Small Positions)

Current Position: long MGM stock @ $13.80

- or -

Long the May $14.00 call (MGM1121E14) entry @ $0.65

04/25 Plan on exiting tomorrow at the close
04/20 Start looking for an early exit. New exit target at $13.95

Entry on April 19 at $13.80
Earnings Date 05/05/11 (unconfirmed)
Average Daily Volume: 19 million
Listed on April 18th, 2011


Oracle Corp. - ORCL - close: 34.75 change: +0.64

Stop Loss: 32.95
Target(s): 38.00
Current Gain/Loss: + 0.3%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
04/25 update: ORCL opened at $34.70 and slowly drifted higher throughout Monday's session. I would still consider positions now or you can wait for a dip into the $34.25-34.00 area instead.

Current Position: Long ORCL stock @ $34.70

- or -

Long the June $35 call (ORCL1118F35) Entry @ $0.98

Entry on April 25 at $34.70
Earnings Date 06/23/11 (unconfirmed)
Average Daily Volume: 25.1 million
Listed on April 23rd, 2011


SAIC, Inc. - SAI - close: 17.22 change: -0.03

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

Comments:
04/25 update: SAI rallied off its intraday lows, which is encouraging but I am reluctant to launch new positions. I am not suggesting new positions at this time.

Our first bullish target is $18.40.

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


BEARISH Play Updates

Overseas Shipholding Group - OSG - close: 28.29 change: +0.17

Stop Loss: 30.35
Target(s): 27.75, 26.25
Current Gain/Loss: +12.4%
Time Frame: 8 to 9 weeks
New Positions: see below

Comments:
04/25 update: OSG rebounded off its intraday lows but remains under its simple 10-dma. I'm not suggesting new bearish positions at this time. More conservative traders may still want to consider an early exit now to lock in a gain. Our second and final target is the $26.25 level.

Our plan was to use small positions to limit our risk.

- Small Bearish Positions -

Current Position: Short OSG stock @ $32.20

04/18 New stop loss @ 30.35
04/12 Exit April Puts now ($1.45bid, +93.3%)
04/12 Take Profits (sell half) of our OSG position (+11.5%)
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


CLOSED BULLISH PLAYS

Ford Motor Co. - F - close: 15.54 change: +0.11

Stop Loss: 14.85
Target(s): 16.45, 17.45
Current Gain/Loss: + 3.2%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
04/25 update: Ford popped higher and closed near the $15.50 level. Our plan was to exit today at the closing bell to avoid holding over the earnings report tomorrow morning.

Current Position: Long F stock @ $15.05

04/25 Early Exit @ $15.54 (+3.2%)
04/23 New stop loss @ 14.85
04/20 Prepare to exit on Monday, April 25th at the close
04/16 April $15 calls have expired (-100%)

chart:

Entry on March 24 at $15.05
Earnings Date 04/26/11 (confirmed)
Average Daily Volume: 82 million
Listed on March 15th, 2010


Ryder Systems Inc. - R - close: 50.46 change: -0.67

Stop Loss: 49.25
Target(s): 53.00
Current Gain/Loss: + 0.4%
Time Frame: 3 to 5 weeks
New Positions: see below

Comments:
04/25 update: Shares of Ryder (R) underperformed on Monday with a -1.3% decline. It was our plan to exit this trade today at the closing bell to avoid holding over earnings tomorrow.

Current Position: Long R stock @ $50.25

- or -

May $50 call (R1121E50) Entry @ $2.55, Exit @ 1.60 (-37.2%)

04/25 Exit Early @ 50.46 (+0.4%), Option @ -37.2%
04/20 New stop loss @ 49.25
04/16 New stop loss @ 48.75
04/09 New stop loss @ 47.95

chart:

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