Editor's Note:
Shares of SBUX reversed from this morning's dip to hit a new all-time, record high. Our bullish trade on the stock is now open. Meanwhile weakness in gold this morning stopped our DGP trade. SFSF displayed a lot of volatility this morning as well and hit our stop.

-James

Current Portfolio:


BULLISH Play Updates

Adobe Systems - ADBE - close: 26.76 change: +0.52

Stop Loss: 25.35
Target(s): 29.50
Current Gain/Loss: -1.3%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
10/18 update: ADBE dipped toward its simple 10-dma and bounced this morning. The rebound here looks like a new bullish entry point. I am raising our stop loss to $25.35.

Current Position: Long ADBE @ 27.13

- or -

Long NOV $27 call (ADBE1119K27) Entry $1.27

10/18 new stop loss @ 25.35, today's bounce looks like an entry
10/14 ADBE gapped higher at $27.13

Entry on October 14 at $27.13
Earnings Date 12/15/11 (unconfirmed)
Average Daily Volume = 7.1 million
Listed on October 11, 2011


Autodesk, Inc. - ADSK - close: 31.89 change: +0.64

Stop Loss: 29.75
Target(s): 34.00
Current Gain/Loss: +5.0%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
10/18 update: Traders quickly bought the dip in ADSK near $30.60 this morning. Shares still look a little bit overbought here. I'd prefer to buy a dip closer to $30.00 if you're looking for an entry point.

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

10/15 new stop loss @ 29.75, adjusted target to $34.00

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: 32.56 change: +0.12

Stop Loss: 31.75
Target(s): 33.50
Current Gain/Loss: +4.5%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
10/18 update: BMY held up pretty well this morning and did not violate support near $32.00. The afternoon bounce could be used as a new entry point. Just keep in mind that we will exit ahead of the late October earnings report.

Earlier Comments:
Our final target is $33.50.

current Position: Long BMY stock @ $31.15

- or -

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

10/17 2012 Jan. $30 call open (bid) @ 2.90 (+28.3%)
10/15 new stop loss @ 31.75
10/15 Plan to take profits on the call, sell half on Monday
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


Copper ETF - JJC - close: 43.70 change: +0.40

Stop Loss: 41.75
Target(s): 47.50
Current Gain/Loss: + 1.0%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
10/18 update: Fears of a slow down in China helped spark some profit taking in copper this morning but the sell-off didn't last very long. The JJC rallied back into positive territory. I would be tempted to buy this bounce but you might want to raise your stop closer to today's low ($42.42).

current Position: Long JJC (ETF) @ $43.25

- or -

Long NOV $45 call (JJC1119K45) Entry $1.90

10/15 new stop loss at $41.75
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: 21.49 change: +0.60

Stop Loss: 19.75
Target(s): 22.85
Current Gain/Loss: + 3.5%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
10/18 update: LOW delivered a strong session. The stock did not see the same morning weakness most of the market did. The stock rallied to a +2.8% gain and a breakout past its simple 100-dma.

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: 31.89 change: +0.54

Stop Loss: 29.80
Target(s): 34.00
Current Gain/Loss: + 3.3%
Time Frame: 2 to 4 weeks
New Positions: see below

Comments:
10/18 update: NPO managed to recoup most of yesterday's losses after traders bought the dip near the rising 10-dma. Readers can use this bounce as a new entry point but you may want to tighten your stop loss. Please note that we will plan to exit our October $30 calls tomorrow at the closing bell.

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

10/18 plan to exit Oct. calls tomorrow at the close
10/17 October options are running out of time. Consider an early exit
10/15 adjusted target for stock to $34.00
10/15 adjusted target for option to $33.00
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


VeriFone Systems - PAY - close: 39.16 change: +0.81

Stop Loss: 37.95
Target(s): 44.85
Current Gain/Loss: unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see below

Comments:
10/18 update: PAY managed a rebound near its simple 10-dma this morning but shares are still trading under resistance at $40.00. There is no change from my prior comments. Our plan is to open bullish positions at $40.50.

Earlier Comments:
We will aim for $44.85 as our exit target. More conservative traders may want to exit near the 200-dma. FYI: The Point & Figure chart for PAY is bullish with a $59 target.

Trigger @ 40.50

Suggested Position: buy PAY stock @ $40.50

- or -

buy the NOV $42 call (PAY1119K42)

Entry on October xx at $ xx.xx
Earnings Date 12/01/11 (unconfirmed)
Average Daily Volume = 2.3 million
Listed on October 13, 2011


Starbucks Corp. - SBUX - close: 41.16 change: -1.06

Stop Loss: 40.75
Target(s): 46.00
Current Gain/Loss: +0.4%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
10/18 update: Our SBUX has been opened. We had specific instructions to open bullish positions if shares broke out to a new high (trigger @ 42.26). Sure enough, SBUX dipped to a new short-term low at $40.77 and then reversed with a +5.3% rally from its morning low to the high of $42.94. Shares trimmed their gains to close up +3.1%.

I would still consider new positions now at current levels but we are adjusting our stop loss to $40.75.

Earlier Comments:
We'll tentatively set our exit target at $46.00 but we'll need to be nimble. FYI: The Point & Figure chart for SBUX is bullish with a $57 target.

(Small positions)

Suggested Position: Long SBUX stock @ $42.26

- or -

Long NOV $44 call (SBUX1119K44) Entry $1.10

10/18 new stop loss @ 40.75
10/18 Triggered at $42.26
10/17 Trade not open. We are temporarily removing our entry point strategy to see how shares fare tomorrow.

chart:

Entry on October 18 at $42.26
Earnings Date 11/03/11 (unconfirmed)
Average Daily Volume = 8.5 million
Listed on October 13, 2011


BEARISH Play Updates

None. We do not have any active bearish trades.


CLOSED BULLISH PLAYS

PowerShares Gold Double Long - DGP - close: 55.00 change: -0.51

Stop Loss: 53.45
Target(s): 60.00
Current Gain/Loss: -3.2%
Time Frame: 8 to 10 weeks
New Positions: see below

Comments:
10/18 update: Gold hit some profit taking this morning and the DGP gapped open lower at $53.75. Shares quickly hit our stop loss at $53.45 before paring its losses by the close.

- Small Positions -

current Position: long the DGP @ $55.26, exit $53.45 (-3.2%)

10/18 stopped out at $53.45
10/15 new stop loss @ 53.45
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)

chart:

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


SuccessFactors, Inc. - SFSF - close: 26.04 change: -0.05

Stop Loss: 24.90
Target(s): 29.50
Current Gain/Loss: -3.6%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
10/18 update: The volatility in SFSF was a bit ridiculous today. Last night the company preannounced better than expected Q3 revenues. Shares were trading higher last night near $28. The stock gaps open higher at $27.45 this morning but immediately reverses under its exponential 200-dma and plunges to $24.85 before reversing again, this time higher to settle virtually unchanged on the session. That was a -9.5% plunge from the intraday high to our stop at $24.90. The play is closed.

closed Position: Long SFSF stock @ $25.83, exit $24.90 (-3.6%)

- or -

NOV $27 call (SFSF1119K27) Entry $1.25, exit $1.00*(- 20%)

10/18 gaps higher on earnings news, reverses -9.5% and hits our stop at $24.90
*option exit is an estimate. Option did not trade when SFSF was near our stop loss.
10/17 new stop loss @ 24.90
10/17 After the closing bell SFSF pre-announces stronger earnings results.
10/15 new stop loss @ 24.45

chart:

Entry on October 14 at $25.83
Earnings Date 10/26/11 (unconfirmed)
Average Daily Volume = 1.8 million
Listed on October 13, 2011