Editor's Note:
Looking at the major indices the tech-heavy NASDAQ managed to outperform today. Surprisingly our technology-related names on the list merely consolidated sideways. For the most part today was a non-event. Nothing happened except that most stocks bounced off their morning lows.

-James

Current Portfolio:


BULLISH Play Updates

Adobe Systems - ADBE - close: 25.80 change: -0.08

Stop Loss: 24.75
Target(s): 29.50
Current Gain/Loss: unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see below

Comments:
10/13 update: ADBE followed the market lower this morning and dipped to $25.39 but eventually trimmed its losses to just -0.3%. There is no change from my prior comments. Currently our plan is to open bullish positions if ADBE hits $26.35. More conservative traders may want to move that trigger higher to $26.55 instead.

Trigger @ 26.35

Suggested Position: buy ADBE @ 26.36

- or -

buy the NOV $27 call (ADBE1119K27)

Entry on October xx at $ xx.xx
Earnings Date 12/15/11 (unconfirmed)
Average Daily Volume = 7.1 million
Listed on October 11, 2011


Autodesk, Inc. - ADSK - close: 30.99 change: -0.03

Stop Loss: 28.25
Target(s): 34.50
Current Gain/Loss: +2.1%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
10/13 update: ADSK held up pretty well today. After yesterday's rally, well actually after an eight-day rally, the stock was poised for some profit taking. The stock dipped to $30.36 and bounced back to almost unchanged.

The plan was to keep our position size small since ADSK is short-term overbought here.

*Small Positions*

current Position: Long ADSK stock @ 30.35

- or -

Long NOV $32 call (ADSK1119K32) Entry $1.60

Entry on October 12 at $30.35
Earnings Date 11/17/11 (unconfirmed)
Average Daily Volume = 4.5 million
Listed on October 11, 2011


Bristol-Myers Squibb - BMY - close: 32.76 change: -0.06

Stop Loss: 30.75
Target(s): 33.50
Current Gain/Loss: +5.1%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
10/13 update: BMY suffered a very mild decline today. Shares essentially drifted sideways. There is no change from my prior comments.

Earlier Comments:
The trend is up but BMY looks short-term overbought. Cautious investors may want take profits now. I am expecting a pull back, probably toward the $32.00-31.50 area. Our final target is $33.50.

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: 55.29 change: -0.61

Stop Loss: 50.50
Target(s): 60.00
Current Gain/Loss: +0.0%
Time Frame: 8 to 10 weeks
New Positions: see below

Comments:
10/13 update: Gold can't seem to build on its up days. This up one day and down the next can be frustrating to trade. Today's session erased yesterday's gain. I am not suggesting new positions tonight. We are essentially at breakeven. More conservative traders may want to abandon ship and exit early now.

- Small Positions -

current Position: long the DGP @ $55.26

10/13 Not making any progress. Cautious traders may want to exit early now with DGP near breakeven
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: 43.06 change: -0.45

Stop Loss: 41.25
Target(s): 47.50
Current Gain/Loss: - 0.4%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
10/13 update: Overall metals were generally weak today in spite of a decline in the U.S. dollar (normally a down dollar would be bullish for metals). The JJC gave back about half of yesterday's gains. We are still bullish on copper but more conservative traders might want to up their stop loss closer to the $42 level.

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: 20.45 change: -0.17

Stop Loss: 19.75
Target(s): 22.85
Current Gain/Loss: - 1.4%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
10/13 update: LOW underperformed the market's major indices today with a -0.8% decline versus -0.3% for the S&P 500 index. At this point I'd rather see a dip or a bounce near the $20.00 level before considering new positions.

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: 31.74 change: +0.19

Stop Loss: 29.80
Target(s): 34.50
Current Gain/Loss: + 2.8%
Time Frame: 2 to 4 weeks
New Positions: see below

Comments:
10/13 update: NPO spent nearly the entire session bouncing sideways in a tight range between $32.40 and $31.90. Today's +0.6% gain is a show of relative strength but I would hesitate to launch new positions here.

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


NetApp, Inc. - NTAP - close: 38.65 change: -0.24

Stop Loss: 37.95
Target(s): 44.00
Current Gain/Loss: unopened
Time Frame: 3 to 6 weeks
New Positions: Yes, see below

Comments:
10/13 update: NTAP erased yesterday's small gain after a day of drifting sideways. The high today was $39.11. There is no change from my prior comments posted below:

Earlier Comments:
I do consider this an aggressive trade so we will want to keep our position size small. The plan is to open bullish positions if NTAP can trade at $39.55. If triggered we'll use a stop loss at $37.95. Our upside target is $44.00. Remember, small positions!

Trigger @ $39.55 (small positions)

Suggested Position: buy NTAP stock @ 39.55

- or -

buy the NOV $40 call (NTAP1119K40)

Entry on October xx at $ xx.xx
Earnings Date 11/16/11 (unconfirmed)
Average Daily Volume = 7.4 million
Listed on October 12, 2011


BEARISH Play Updates

Walgreen Co. - WAG - close: 32.96 change: -0.19

Stop Loss: 34.26
Target(s): 30.50
Current Gain/Loss: +0.4%
Time Frame: 4 to 8 weeks
New Positions: Yes, see below

Comments:
10/13 update: WAG spent most of the session churning sideways under the $33.00 level. I would still consider new bearish positions now. Do not be surprised to see a bounce near $32.00. Our target is $30.50.

NOTE: October options only have six trading days left.

current Position: short WAG stock @ $33.11

- or -

Long Oct. $32 put (WAG1122V32) Entry $0.19

- or -

Long NOV $31 put (WAG1119W31) Entry $0.59

Entry on October 13 at $33.11
Earnings Date 12/21/11 (unconfirmed)
Average Daily Volume = 8.6 million
Listed on October 12, 2011