Editor's Note:
Shares of UNH powered through resistance to hit our upside target. Meanwhile both the JJC and LOW trades were triggered. Our bearish HAS play has been dropped unopened.

-James

Current Portfolio:


BULLISH Play Updates

Bristol-Myers Squibb - BMY - close: 32.83 change: +0.45

Stop Loss: 30.75
Target(s): 33.50
Current Gain/Loss: +5.3%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
10/10 update: BMY gapped higher at the open and spent the rest of the session churning sideways. Today's +1.3% gain is a new multi-year closing high. More conservative traders may want to take profits right here. Our final target is $33.50. Please note that we are inching up our stop loss to $30.95.

current Position: Long BMY stock @ $31.15

- or -

Long 2012 Jan. $30 call (BMY1221A30) Entry $2.26

10/10 new stop loss @ 30.95
10/04 new stop loss @ 30.75
09/27 new stop loss @ 29.90
09/26 trade opened

Entry on September 26 at $31.15
Earnings Date 10/26/11 (unconfirmed)
Average Daily Volume = 13.6 million
Listed on September 22, 2011


PowerShares Gold Double Long - DGP - close: 55.95 change: +2.70

Stop Loss: 50.50
Target(s): 60.00
Current Gain/Loss: +1.2%
Time Frame: 8 to 10 weeks
New Positions: see below

Comments:
10/10 update: Gold was catching a bid today. Both the GLD and the DGP appear to be breaking out higher from their two-week sideways consolidation. Today's strength could be used as an entry point but you'll want to significantly raise your stop loss.

- Small Positions -

current Position: long the DGP @ $55.26

10/08 adjusted exit target to $60.00
10/04 new stop loss @ 50.50
09/27 trade opened
09/26 reload this trade. Buy the open tomorrow, new stop 49.40
09/26 Trade opened on gap down at $51.96.
Trade stopped out at $51.45 (-0.9% loss)

Entry on September 27 at $55.26
Earnings Date --/--/--

1st Attempt:

Entry on September 26 at $51.96
Exit on September 26 at $51.45 (-0.9%)


Average Daily Volume = 1.3 million
Listed on September 24, 2011


Copper ETF - JJC - close: 43.72 change: +1.23

Stop Loss: see below
Target(s): 47.50
Current Gain/Loss: + 1.0%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
10/10 update: The rally in copper today managed to outpace the gains in gold. The JJC surged another +2.8%. Our entry point at $43.25 was hit and we now have a stop loss at $41.25. Our target is $47.50.

current Position: Long JJC (ETF) @ $43.25

- or -

Long NOV $45 call (JJC1119K45) Entry $1.90

10/10 JJC hit our upside trigger at $43.25, stop 41.25

Entry on October 10 at $43.25
Earnings Date --/--/--
Average Daily Volume = 461 thousand
Listed on October 08, 2011


Lowe's Companies - LOW - close: 20.34 change: +0.10

Stop Loss: 19.75
Target(s): 22.85
Current Gain/Loss: + 0.5%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
10/10 update: The ongoing rally in stocks finally pushed LOW through resistance at the top of its trading range. The stock hit our trigger to open small bullish positions at $20.75. I would still consider new positions now.

Earlier Comments:
The $22.00 level might be resistance but I'm listing our exit target at $22.85. I would keep our position size small.

current Position: Long LOW stock @ 20.75

- or -

Long NOV $21 call (LOW1119K21) Entry $0.85

Entry on October 10 at $20.75
Earnings Date 11/14/11 (unconfirmed)
Average Daily Volume = 16.7 million
Listed on October 08, 2011


EnPro Industries - NPO - close: 30.70 change: +0.64

Stop Loss: 29.80
Target(s): 34.50
Current Gain/Loss: - 0.5%
Time Frame: 2 to 4 weeks
New Positions: see below

Comments:
10/10 update: NPO spent most of the day trading sideways. The +2.1% gain lagged behind the major indices. I am not suggesting new bullish positions at this time. Please note we are raising our stop loss to $29.80.

Earlier Comments:
We want to keep our position small to limit risk.

(Small Positions)

current Position: Long NPO stock @ $30.87

- or -

Long Oct $30 call (NPO1122J30) Entry $1.75

10/10 new stop loss at $29.80

Entry on October 07 at $30.87
Earnings Date 11/03/11 (unconfirmed)
Average Daily Volume = 282 thousand
Listed on October 06, 2011


BEARISH Play Updates

None. We do not have any active bearish trades.


CLOSED BULLISH PLAYS

UnitedHealth Group - UNH - close: 46.52 change: +1.63

Stop Loss: 41.25
Target(s): 46.50
Current Gain/Loss: +6.8%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
10/10 update: Target achieved. UNH rallied past potential resistance at $46.00 and its 200-dma to hit our target at $46.50. The call option is up +107%.

closed Position: Long UNH stock @ $43.54, exit 46.50 (+6.8%)

- or -

OCT $43 call (UNH1122J43) Entry $1.88, exit $3.90 (+107.4%)

10/10 target hit at $46.50
10/08 readers may want take profits on the October $43 call now (+45%)

chart:

Entry on October 05 at $43.54
Earnings Date 10/18/11 (confirmed)
Average Daily Volume = 8.9 million
Listed on October 04, 2011


CLOSED BEARISH PLAYS

Hasbro Inc. - HAS - close: 34.74 change: +1.49

Stop Loss: 34.05
Target(s): 30.25
Current Gain/Loss: unopened
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
10/10 update: There was no follow through on HAS' failed rally. Shares reversed higher instead with a +4.4% gain and a breakout over resistance at $34.00. Our trigger to open bearish positions was not hit. I am dropping HAS as a bearish candidate.

Trigger @ 32.90

Trade Did Not Open

chart:

Entry on October xx at $ xx.xx
Earnings Date 10/17/11 (confirmed)
Average Daily Volume = 2.3 million
Listed on October 08, 2011