Editor's Note:
Shares of DISH rallied on news of a special $2.00 dividend instead of sinking on lackluster earnings results. Our bearish play was stopped out and the move cut our gains on the stock position in half.

We have adjusted our entry point strategy on the XLF trade.

-James

Current Portfolio:


BULLISH Play Updates

Beazer Homes - BZH - close: 2.03 change: -0.01

Stop Loss: 1.75
Target(s): 3.25
Current Gain/Loss: -7.3%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
11/07 update: BZH closed virtually unchanged on Monday after spending the session bouncing around the $2.00-2.10 zone. I don't see any changes from my weekend comments.

I would still consider new positions now. Cautious traders may want to wait for a dip toward the $1.90-1.80 zone instead.

Earlier Comments:
We have listed a very high target at $3.25 but I anticipate scaling that down. This is sort of a just-in-case BZH delivers better than expected earnings and the stock explodes kind of target. This industry is very heavily shorted so a short squeeze is a definite possibility.

Please note we are going to take the unusual step and hold over BZH's earnings in November. Normally we try to always exit ahead of earnings to avoid holding over the announcement.

FYI: You could buy calls but the spreads are so wide they could actually increase your risk (but they'll definitely leverage any move higher).

current Position: Long BZH stock @ $2.19

- or -

Long 2012 Jan $3.00 call (BZH1221A3) Entry $0.15

Entry on October 31 at $2.19
Earnings Date 11/15/11 (confirmed)
Average Daily Volume = 2.4 million
Listed on October 29, 2011


Casey's General Stores - CASY - close: 50.80 change: +0.73

Stop Loss: 47.70
Target(s): 54.50
Current Gain/Loss: unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see below

Comments:
11/07 update: It turned out to be a good day for CASY with a +1.4% gain and a new high. Yet our trade is not open. Both the S&P 500 and CASY opened lower this morning. I am suggesting we try again. The plan is to open bullish positions if CASY and the S&P 500 index both open higher. Nimble traders may want to try and buy a dip near $50.00 instead. FYI: The Point & Figure chart for CASY is bullish with a $70.00 target.

*see Entry Details above*

Suggested Position: buy CASY stock @ the open

- or -

buy the DEC $50 call (CASY1117L50)

Entry on November xx at $ xx.xx
Earnings Date 12/06/11 (unconfirmed)
Average Daily Volume = 250 thousand
Listed on November 5, 2011


CEMEX - CX - close: 4.74 change: +0.06

Stop Loss: 4.24
Target(s): 4.95
Current Gain/Loss: + 5.8%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
11/07 update: CX is getting pretty close to our exit target at $4.95. The high today was $4.87. More aggressive traders may want to raise their target. The 100-dma might (currently near $5.45) might be a good alternative exit point. There is a good chance that if the markets are positive tomorrow that CX will hit our exit at $4.95.

I am not suggesting new positions at this time. We will raise our stop loss up to $4.24, keeping it under the simple 10-dma.

current Position: Long CX stock @ $4.48

- or -

Long Jan $5 call (CX1221A5) Entry $0.45

11/07 new stop loss @ 4.24
11/05 new stop loss @ 3.97
11/03 CX gapped open to $4.48 (+6.3%)

Entry on November 3 at $ 4.48
Earnings Date 10/26/11
Average Daily Volume = 20.3 million
Listed on November 2, 2011


Dycom Industries - DY - close: 19.54 change: +0.05

Stop Loss: 18.40
Target(s): 22.25
Current Gain/Loss: unopened
Time Frame: 6 to 8 weeks or until earnings.
New Positions: Yes, see below

Comments:
11/07 update: Our new trade on DY is not open yet. Neither DY or the S&P 500 index opened higher. I am suggesting we try again. We want to buy the stock or calls tomorrow morning but only if both DY and the S&P 500 open positive tomorrow.

Earlier Comments:
FYI: The Point & Figure chart for DY is bullish with a $32.50 target.
NOTE: We will probably choose to exit ahead of the earnings report to avoid holding over the announcement in late November.

*see Entry Details above*

Suggested Position: buy DY stock @ the open

- or -

buy the DEC $20 call (DY1117L20)

Entry on November xx at $ xx.xx
Earnings Date 11/22/11 (unconfirmed)
Average Daily Volume = 379 thousand
Listed on November 5, 2011


Healthstream Inc. - HSTM - close: 16.02 change: +0.29

Stop Loss: 14.40
Target(s): 18.00
Current Gain/Loss: + 1.4%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
11/07 update: Bingo! If you were looking for an entry point we got one today. I suggested waiting for a dip near its 10-dma. HSTM pulled back to its 10-dma and rebounded to eventually close up +1.8% on the session. I am raising our stop loss up to $14.40.

Earlier Comments:
Our plan was to keep position sizes small to limit risk. Our target is $18.00. FYI: The Point & Figure chart for HSTM is bullish with a $17.50 target. NOTE: HSTM does have options but the spreads are too wide to trade.

(small positions)

current Position: Long HSTM @ $15.79

11/07 new stop loss @ 14.40
11/03 HSTM gapped open higher at $15.79

Entry on November 3 at $15.79
Earnings Date 10/24/11
Average Daily Volume = 134 thousand
Listed on November 2, 2011


IMAX Corp. - IMAX - close: 19.51 change: +0.22

Stop Loss: 17.70
Target(s): 24.50
Current Gain/Loss: + 0.6%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
11/07 update: Traders bought the dip in IMAX near its rising 10-dma midday. If the stock market can rally tomorrow we could see IMAX breakout past the $20 level and its 100-dma.

Earlier Comments:
Our multi-week target is $24.50. Keep in mind that the exponential 200-dma could be resistance near $22.25ish. FYI: The Point & Figure chart for IMAX is bullish with a $28.00 target.

Current Position: Long IMAX @ $19.38

- or -

Long DEC $20 call (IMAX1117L20) Entry $1.27

Entry on November 3 at $19.38
Earnings Date 10/27/11
Average Daily Volume = 1.2 million
Listed on November 2, 2011


Juniper Networks - JNPR - close: 23.71 change: -0.27

Stop Loss: 21.90
Target(s): 29.00
Current Gain/Loss: - 0.0%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
11/07 update: JNPR is still stuck under resistance at the $24.00 level. Shares spent another day churning sideways in the $24-23 zone. I don't see any changes from my prior comments.

At the moment I am neutral on launching new positions. If stocks correct then JNPR is likely to retest the $22.00 level. If stocks continue to rise then we need to see JNPR breakout past $24.00 soon. Readers could use a move past $24.10 as an entry point but if you do I would consider raising your stop loss!

The plan was to keep positions small to limit our risk.

(small positions)

current Position: Long JNPR stock @ $23.72

- or -

Long JAN $25 call (JNPR1221A25) Entry $1.50

11/02 trade is open. JNPR opened at $23.72
11/01 Try again. New strategy. Buy JNPR if stock and S&P500 opens positive tomorrow, stop loss @ 21.90.
11/01 trade opened at $23.46, stopped out @ 22.75 (-3.0% loss)
option opened @ $1.80, exit $1.36 (-24.4%)
10/29 alternative entry point: dip at $23.00

Entry on November 2 at $23.72
Earnings Date 10/18/11
Average Daily Volume = 13 million
Listed on October 29, 2011


NetApp Inc. - NTAP - close: 42.84 change: +0.21

Stop Loss: 39.90
Target(s): 43.90
Current Gain/Loss: + 7.7%
Time Frame: 2 to 3 weeks
New Positions: see below

Comments:
11/07 update: NTAP managed to eke out another gain but shares spent most of the day churning sideways in a narrow range. I do not see any changes from my weekend comments.

I am not suggesting new positions at this time. More conservative traders may want to take profits now, especially if you're holding the calls.

Earlier Comments:
This is going to be a short-term trade. We do not want to hold over the November 16th earnings report.

current Position: Long NTAP stock @ 39.75

- or -

Long NOV $40 call (NTAP1119K40) Entry $1.71

11/05 new stop loss @ 39.90, adjusted target to $43.90
11/03 new stop loss @ 38.40
11/01 new stop loss @ 37.25
11/01 NTAP gaps open lower at $39.75, our new entry point.

Entry on November 1 at $39.75
Earnings Date 11/16/11 (confirmed)
Average Daily Volume = 6.8 million
Listed on October 31, 2011


Financial SPDR ETF - XLF - close: 13.36 change: +0.08

Stop Loss: 12.74
Target(s): simple 200-dma
Current Gain/Loss: unopened
Time Frame: 4 to 8 weeks
New Positions: Yes, see below

Comments:
11/07 update: We are adjusting our strategy on the XLF. The stock market's intraday rebound is a positive development. I'm an growing slightly more optimistic here. Instead of waiting to buy a dip in the XLF I am suggesting we open bullish positions when shares hit $13.55. More aggressive traders could open positions tomorrow morning if both the XLF and the S&P 500 index open positive as an alternative entry point.

If we are triggered at $13.55 we'll use a stop loss at $12.74 and aim for the simple 200-dma (currently $14.82). The exponential 200-dma (near 14.12) is likely to remain short-term overhead resistance.

We still want to keep our position size small!

Trigger @ $13.55 (small positions)

Suggested Position: buy the XLF @ $13.55

- or -

buy the 2012 Jan $14 call (XLF1221A14)

11/07 new strategy: Instead of buying a dip, I am suggesting we buy a rally with a trigger at $13.55. New stop loss $12.74. Target simple 200-dma.

Entry on November xx at $ xx.xx
Earnings Date --/--/--
Average Daily Volume = 137 million
Listed on November 3, 2011


Xilinx Inc. - XLNX - close: 32.97 change: +0.31

Stop Loss: 31.40
Target(s): 35.75
Current Gain/Loss: + 1.4%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
11/07 update: XLNX spent much of the day churning sideways. In the last two hours shares experienced a strong bounce and closed near its highs for the session. I would still consider new positions now.

Earlier Comments:
The plan was to keep our position size small to limit risk. Our multi-week target is $35.75. FYI: The Point & Figure chart for XLNX is bullish with a $46 target.

(small positions)

Current Position: Long XLNX stock @ 32.50

- or -

Long Jan $35 call (XLNX1221A35) Entry $0.95

Entry on November 1 at $32.50
Earnings Date 10/19/11
Average Daily Volume = 5.0 million
Listed on October 29, 2011


BEARISH Play Updates

None. We do not have any active bearish trades.


CLOSED BEARISH PLAYS

Dish Network - DISH - close: 24.66 change: +1.18

Stop Loss: 24.55
Target(s): 21.25
Current Gain/Loss: +3.2%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
11/07 update: Our DISH trade has been stopped out. The company reported earnings this morning. DISH missed estimates by one cent with revenues that were in-line with expectations. The company lost 111,000 subscribers, which was more than expected. The stock should have been down today but management tried to offset the bad news by announcing a special $2.00 dividend.

The stock opened at $23.10 and our stop loss was hit at $24.55 pretty quickly. This cut our gains in half.

closed Position: short DISH stock @ $25.38, exit $24.55 (+3.2%).

- or -

NOV $25 PUT (DISH1119W25) Entry $1.20, exit $1.00 (-16.6%)

11/07 stopped out a $24.55
11/05 new stop loss @ 24.55
11/01 new stop loss @ 24.75

chart:

Entry on October 28 at $25.38
Earnings Date 11/07/11 (confirmed)
Average Daily Volume = 3.0 million
Listed on October 27, 2011