Editor's Note:
Stocks extended their gains late Tuesday afternoon. We saw NTAP hit our exit target near its exponential 200-dma.

We also had several trades opened today (CASY, DY, KOG, and the XLF).

-James

Current Portfolio:


BULLISH Play Updates

Beazer Homes - BZH - close: 2.36 change: +0.33

Stop Loss: 1.75
Target(s): 3.25
Current Gain/Loss: +7.7%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
11/08 update: Homebuilding stocks were big performers today. BZH rallied sharply adding +16.2%. The stock broke through its 100-dma and closed at new multi-week highs. I would not chase it here. The $2.20 level could be new support.

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: 51.73 change: +0.93

Stop Loss: 47.95
Target(s): 54.50
Current Gain/Loss: + 1.0%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
11/08 update: Our new trade on CASY is open. The stock gapped higher at $51.19. Shares managed to hit $51.99 before trimming its gains. If you don't feel like launching positions here you could wait for a potential dip into the $50.50-50.00 zone instead. We are inching our stop loss up to $47.95.

Our target is $54.50. FYI: The Point & Figure chart for CASY is bullish with a $70.00 target.

Current Position: Long CASY stock @ $51.19

- or -

Long DEC $50 call (CASY1117L50) Entry $2.90

11/08 new stop loss @ 47.95
11/08 trade opened.

Entry on November 08 at $51.19
Earnings Date 12/06/11 (unconfirmed)
Average Daily Volume = 250 thousand
Listed on November 5, 2011


CEMEX - CX - close: 4.84 change: +0.10

Stop Loss: 4.24
Target(s): 4.95
Current Gain/Loss: + 8.0%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
11/08 update: Almost there! CX rallied to $4.93 this morning. Our exit target is $4.95. I don't see any changes from my prior comments. More aggressive traders may want to aim higher for their exit.

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: 19.49 change: -0.05

Stop Loss: 18.40
Target(s): 22.25
Current Gain/Loss: - 1.4%
Time Frame: 6 to 8 weeks or until earnings.
New Positions: see below

Comments:
11/08 update: Our trade on DY opened this morning with the stock's gap open higher at $19.78. The rally faded but traders bought the dip near short-term support around the $19.00 area. I would still consider new positions here at current levels but you may want to use the same technique for entries (only buying DY if both the stock and S&P 500 open positive).

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.

current Position: Long DY stock @ $19.78

- or -

Long DEC $20 call (DY1117L20) Entry $1.30

11/08 trade opened on DY's gap higher at $19.78.

Entry on November 08 at $19.78
Earnings Date 11/22/11 (unconfirmed)
Average Daily Volume = 379 thousand
Listed on November 5, 2011


Healthstream Inc. - HSTM - close: 16.45 change: +0.43

Stop Loss: 14.65
Target(s): 18.00
Current Gain/Loss: + 4.0%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
11/08 update: HSTM managed to breakout past the $16.00 level to close at a new record high with today's +2.6% gain. I am not suggesting new positions at this time. We will raise our stop loss to $14.65.

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

11/08 new stop loss @ 14.65
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: 19.66 change: +0.15

Stop Loss: 17.70
Target(s): 24.50
Current Gain/Loss: + 1.4%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
11/08 update: IMAX isn't making much progress. Shares gained +0.7% today but they remain stuck under resistance at the $20.00 level (and possibly the 100-dma). Readers may want to wait for a breakout past $20.25 before considering new positions.

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: 24.63 change: +0.92

Stop Loss: 21.90
Target(s): 29.00
Current Gain/Loss: + 3.8%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
11/08 update: JNPR displayed relative strength today with a +3.8% gain and a breakout past its 100-dma. More conservative traders may want to consider exiting early and taking profits at the closing bell tomorrow (Nov. 9th) to avoid holding over CSCO's earnings report. Cisco Systems is a major rival for JNPR and CSCO's earnings could have a big influence on JNPR's stock on Thursday morning.

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


Kodiak Oil & Gas - KOG - close: 7.59 change: +0.22

Stop Loss: 6.75
Target(s): 9.75
Current Gain/Loss: + 1.0%
Time Frame: two to three months
New Positions: see below

Comments:
11/08 update: Our new trade on KOG is already open. Shares rallied past resistance near the $7.50 level and set new all-time closing high today. The all-time intraday high is $7.70.

We had a trigger to open bullish positions at $7.51. I would still consider new positions now or you could wait for a dip. Our multi-month target is $9.75. FYI: The Point & Figure chart for KOG is bullish with a $13.75 target.

current Position: Long the stock @ 7.51

- or -

Long 2012 MAR $7.50 call (KOG1217C7.5) Entry $1.25

11/08 trade opened at $7.51.

Entry on November 08 at $ 7.51
Earnings Date 03/05/12 (unconfirmed)
Average Daily Volume = 6.6 million
Listed on November 5, 2011


Financial SPDR ETF - XLF - close: 13.61 change: +0.25

Stop Loss: 12.74
Target(s): simple 200-dma
Current Gain/Loss: + 0.4%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
11/08 update: Our bullish trade on the XLF is open. This ETF broke through potential resistance near $13.50 and its 10-dma and 100-dma. Our trigger was hit at $13.55.

Our multi-week target is the simple 200-dma (near $14.50ish) but there is potential resistance at the exponential 200-dma (closer to $14.00), not to mention possible resistance at the October highs.

We want to keep our position size small!

(small positions)

current Position: Long the XLF @ $13.55

- or -

Long 2012 Jan $14 call (XLF1221A14) Entry $0.59

11/08 trade opened at $13.55
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 08 at $13.55
Earnings Date --/--/--
Average Daily Volume = 137 million
Listed on November 3, 2011


Xilinx Inc. - XLNX - close: 33.31 change: +0.34

Stop Loss: 31.40
Target(s): 35.75
Current Gain/Loss: + 2.4%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
11/08 update: XLNX managed to outperform its peers with a +1.0% gain (versus +0.6% in the SOX). This stock is nearing possible resistance near $34 and its October high. I am not suggesting new positions today.

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 BULLISH PLAYS

NetApp Inc. - NTAP - close: 43.94 change: +1.10

Stop Loss: 39.90
Target(s): 43.90
Current Gain/Loss: +10.4%
Time Frame: 2 to 3 weeks
New Positions: see below

Comments:
11/08 update: Target achieved. NTAP extended its recent gains and hit $44.94 intraday. Our exit target was hit at $43.90 early this morning.

current Position: Long NTAP stock @ 39.75, exit $43.90 (+10.4%)

- or -

NOV $40 call (NTAP1119K40) Entry $1.71, exit 4.30 (+151.4%)

11/08 exit target hit at $43.90
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.

chart:

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