Editor's Note:
Stocks delivered a widespread bounce but traders seem nervous. Investors could be afraid of what headlines this weekend might produce.

We saw DY hit our stop loss today.

-James

Current Portfolio:


BULLISH Play Updates

Beazer Homes - BZH - close: 2.22 change: +0.02

Stop Loss: 1.75
Target(s): 3.25
Current Gain/Loss: +1.3%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
11/10 update: It was another relatively quiet day for BZH. Shares are churning sideways near the 100-dma. I would still consider new positions on a dip in the $2.10-2.00 zone.

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: 50.65 change: -0.28

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

Comments:
11/10 update: CASY is still consolidating lower. Shares dipped to their simple 10-dma this afternoon and pretty much tested the $50.00 level. I see this bounce from $50.00 as a new bullish entry point. More conservative traders could wait for a dip or bounce near $49 instead.

Earlier Comments:
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: 4.40 change: +0.06

Stop Loss: 4.24
Target(s): 4.95
Current Gain/Loss: - 1.7%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
11/10 update: CX spiked higher this morning and hit $4.57. Unfortunately the strength faded and shares spent the rest of the session oscillating on either side of the $4.40 level. Volume was pretty light today. I am not suggesting new positions at this time.

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


Honeywell Intl. - HON - close: 53.56 change: +0.73

Stop Loss: 52.40
Target(s): 58.50
Current Gain/Loss: unopened
Time Frame: 3 to 4 weeks
New Positions: Yes, see below

Comments:
11/10 update: HON tried to rally but couldn't quite get past the $54.00 level and its 200-dma. The stock ended the session up +1.3% but our trigger at $54.25 has not been hit.

Trigger @ 54.25

Suggested Position: buy the stock @ $54.25

- or -

buy the DEC $55 call (HON1117L55)

11/09 adjusted entry point strategy to Trigger @ 54.25, moved stop loss to $52.40

Entry on November xx at $ xx.xx
Earnings Date 01/30/12 (unconfirmed)
Average Daily Volume = 5.3 million
Listed on November 8, 2011


Healthstream Inc. - HSTM - close: 15.33 change: -0.34

Stop Loss: 14.80
Target(s): 18.00
Current Gain/Loss: - 2.9%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
11/10 update: Hmm... HSTM underperformed the market today. That's not a good sign. Shares are nearing what should be support near $15.00. Readers could use a bounce from this level as a new bullish entry point.

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

11/09 new stop loss @ 14.80
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: 18.55 change: -0.07

Stop Loss: 17.70
Target(s): 24.50
Current Gain/Loss: - 3.9%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
11/10 update: It looks like IMAX is still headed for the $18.00 level. Wait for a dip or a bounce from the $18.00 mark before considering new bullish 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: 23.77 change: +0.46

Stop Loss: 21.90
Target(s): 29.00
Current Gain/Loss: + 0.2%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
11/10 update: The strong earnings report from CSCO last night helped JNPR outperformed today. Shares of JNPR spiked to $24.39 intraday and settle with a +1.9% gain. The fact that shares could not close over $24.00 is a bit troubling. Readers may want to wait for JNPR to close over $24.00 before considering new positions.

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: 7.35 change: +0.17

Stop Loss: 6.75
Target(s): 9.75
Current Gain/Loss: - 2.1%
Time Frame: two to three months
New Positions: see below

Comments:
11/10 update: KOG bounced from the $7.20 level this morning and rallied toward its recent highs before paring its gains. Shares still added +2.3% by the close. While I would consider new positions here readers may want to wait for a dip near the $7.00 level instead.

Earlier Comments:
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


Red Hat, Inc. - RHT - close: 49.07 change: +0.40

Stop Loss: 48.45
Target(s): 54.90
Current Gain/Loss: unopened
Time Frame: 3 to 6 weeks
New Positions: Yes, see below

Comments:
11/10 update: RHT saw its morning spike to $49 fail and shares dipped to $48.00 before bouncing back into the green. Aggressive traders may want to consider buying this bounce with a stop under today's low. I am suggesting readers wait for a move over $50.00. We have a trigger to open small bullish positions at $50.25.

More conservative traders may want to wait for a breakout past the $51.00 level before initiating positions.

Trigger @ 50.25 (small positions)

Suggested Position: buy the stock @ $50.25 n

- or -

buy the DEC $52.50 call (RHT1117L52.5)

11/09 adjusted entry point strategy: Trigger @ 50.25, stop loss 48.45

Entry on November xx at $ xx.xx
Earnings Date 12/21/11 (unconfirmed)
Average Daily Volume = 2.1 million
Listed on November 8, 2011


Financial SPDR ETF - XLF - close: 12.93 change: +0.06

Stop Loss: 12.59
Target(s): simple 200-dma
Current Gain/Loss: - 4.5%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
11/10 update: The early morning bounce in the financials failed and the XLF spent the day churning sideways. There is no change from my prior comments. I am not suggesting new positions at this time.

Earlier Comments:
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

11/09 new stop loss @ 12.59
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: 31.95 change: -1.36

Stop Loss: 31.40
Target(s): 35.75
Current Gain/Loss: - 1.6%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
11/10 update: XLNX dipped toward last week's low and bounced. Shares underperformed their peers in the semiconductor sector with the SOX adding +0.85%. XLNX only gained +0.09%. I remain cautious here. We are not suggesting new positions. The low today was $31.62. If stocks slip lower again tomorrow we could see XLNX hit our stop loss at $31.40.

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

Dycom Industries - DY - close: 18.64 change: +0.08

Stop Loss: 18.40
Target(s): 22.25
Current Gain/Loss: - 6.9%
Time Frame: 6 to 8 weeks or until earnings.
New Positions: see below

Comments:
11/10 update: A little volatility in DY this morning was enough to end our trade. Shares hit our stop loss at $18.40.

closed Position: Long DY stock @ $19.78, exit $18.40 (- 6.9%)

- or -

DEC $20 call (DY1117L20) Entry $1.30 exit $0.50 (-61.5%)

11/10 stopped out at $18.40
11/08 trade opened on DY's gap higher at $19.78.

chart:

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