Editor's Note:
The U.S. market experienced a widespread sell-off on Thursday. We saw a handful of plays get stopped out.

We are taking this opportunity to adjust some entry point strategies on unopened trades.

-James

Current Portfolio:


BULLISH Play Updates

Beazer Homes - BZH - close: 2.09 change: -0.07

Stop Loss: 1.90
Target(s): 3.25
Current Gain/Loss: -4.5%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
11/17 update: Housing starts came in better than expected today. Yet the news had little impact on the homebuilders. BZH is still slipping back toward support near $2.00. Traders can launch new positions on a dip or a bounce off the $2.00 level.

current Position: Long BZH stock @ $2.19

- or -

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

11/12 new stop loss @ 1.90. More conservative traders may want to exit prior to the earnings report to lock in a gain.

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: 50.73 change: -0.36

Stop Loss: 49.40
Target(s): 54.50
Current Gain/Loss: - 0.9%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
11/17 update: CASY is holding up reasonably well. Shares only lost -0.7% versus -1.9% in the NASDAQ. I would still be tempted to buy a dip or a bounce near the $50.00 mark.

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

11/15 new stop loss @ 49.40
11/12 new stop loss @ 48.75
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


Carlisle Companies - CSL - close: 42.56 change: -1.05

Stop Loss: 39.85
Target(s): 49.50
Current Gain/Loss: unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see below

Comments:
11/17 update: CSL lost -2.4% and is hovering near the 200-dma. Volume was pretty light on today's decline. We are adjusting our entry point strategy. Tonight we're suggesting small bullish positions on a dip at $42.25 with a stop loss at $39.85. More conservative traders may want to use a stop loss closer to $41.50ish instead. We want to keep our position size small to limit our risk on this aggressive entry point.

Trigger @ 42.25 (small positions)

Suggested Position: buy CSL stock @ trigger

11/17 adjusted entry point to trigger @ 42.25, stop loss to $39.85
11/16 adjusted entry point strategy to use a trigger at $45.05

Entry on November xx at $ xx.xx
Earnings Date 02/07/12 (unconfirmed)
Average Daily Volume = 327 thousand
Listed on November 14, 2011


CEMEX - CX - close: 4.37 change: -0.14

Stop Loss: 4.29
Target(s): 5.10
Current Gain/Loss: - 2.4%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
11/17 update: CX lost another -3% today on top of yesterday's -2.8%. Technical indicators are starting to turn bearish. More conservative traders may want to abandon ship. The low today was $4.33 and we have a stop loss at $4.29. 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

11/12 new stop loss @ 4.29, new exit target @ 5.10
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


IMAX Corp. - IMAX - close: 19.10 change: -0.17

Stop Loss: 18.20
Target(s): 24.50
Current Gain/Loss: - 1.4%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
11/17 update: The $19.00 level was pretty solid support today for IMAX but volume was pretty light today too. Last week's low was $18.31. I am raising our stop loss up to $18.20. I am not suggesting new positions at this time.

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

11/17 new stop loss @ 18.20

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


KB Home - KBH - close: 7.42 change: -0.09

Stop Loss: 6.70
Target(s): 9.50
Current Gain/Loss: -1.7%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
11/17 update: The better than expected housing starts data did not have much impact on the homebuilders. KBH gave up -1.1% but shares still have a bullish trend of higher lows. We are not suggesting new positions at this time.

Earlier Comments:
The most recent data listed short interest at more than 50% of the relatively small 65.4 million-share float. That's definitely enough fuel for a significant short squeeze.

KBH can be a volatile stock so we need to use a wide stop loss. This raises the risk profile on this trade. We will aim for $9.50 but the exponential 200-dma might be overhead resistance (currently at 9.10).

current Position: Long KBH stock @ 7.55

- or -

Long Jan $7.50 call (KBH1221A7.5) Entry $0.91

11/11 trade opened at $7.55

Entry on November 11 at $ 7.55
Earnings Date 01/09/12 (unconfirmed)
Average Daily Volume = 5.8 million
Listed on November 10, 2011


Kodiak Oil & Gas - KOG - close: 7.88 change: -0.24

Stop Loss: 7.20
Target(s): 9.75
Current Gain/Loss: + 4.9%
Time Frame: two to three months
New Positions: see below

Comments:
11/17 update: Hmm... that's the second day in a row that KOG has failed at the $8.50 level. More conservative traders may want to go ahead and take profits now. I would expect a drop back toward the $7.50-7.30 zone soon. I am not suggesting new positions at this time.

Earlier Comments:
Our multi-month target is $9.75. FYI: The Point & Figure chart for KOG is bullish with a $13.75 target. KOG is a potential takeover target.

current Position: Long the stock @ 7.51

- or -

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

11/15 gap down at 7.41 and hit 7.21 before bouncing.
11/14 new stop loss @ 7.20
11/14 KOG announces plans to sell an additional 37.5 million shares of new stock
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


Newfield Exploration Co. - NFX - close: 40.60 change: -1.81

Stop Loss: 39.70
Target(s): 43.90
Current Gain/Loss: unopened
Time Frame: 3 to 6 weeks
New Positions: Yes, see below

Comments:
11/17 update: Ouch! NFX really underperformed its peers with a -4.2% drop today. The close under its 50-dma is short-term bearish. However, there is a good chance that NFX might hold support at the $40.00 level.

I am suggesting we open small bullish positions on a dip at $40.25 and we'll adjust our stop loss to $39.70. If triggered we'll set a new short-term target at $43.90.

NOTE: I've adjusted our option strike to the Dec. $40s.

Earlier Comments:
I am suggesting we keep our position size small to limit our risk.

Trigger @ 40.25 (small positions)

Suggested Position: buy NFX stock @ trigger

- or -

buy the DEC $40 call (NFX1117L40) current ask $2.80

11/17 adjusted our entry strategy to buy-the-dip at $40.25, stop loss 39.70
11/16 adjusted entry strategy to use a trigger at $44.25, stop @ 41.95

Entry on November xx at $ xx.xx
Earnings Date 02/16/12 (unconfirmed)
Average Daily Volume = 4.1 million
Listed on November 12, 2011


Ryder System, Inc. - R - close: 51.12 change: -1.01

Stop Loss: 48.99
Target(s): 54.75
Current Gain/Loss: unopened
Time Frame: 6 to 9 weeks
New Positions: Yes, see below

Comments:
11/17 update: R fell -1.9% on Thursday. The breakdown under $52.00 would suggest a drop toward support near $50.00. I am adjusting our entry point strategy. We want to open bullish positions on a dip at $50.25 with a stop loss at $48.99. Our new target is $54.75.

I have adjusted our option strike to the $55s.

Trigger @ 50.25

Suggested Position: buy R stock @ $50.25

- or -

buy the 2012 Feb. $55.00 call (R1202B55) current ask $2.80

11/17 adjusted our entry point strategy to buy the dip at $50.25 with a stop loss at $48.99
11/16 adjusted entry strategy to use a trigger at $54.05 and a stop at $51.40

Entry on November xx at $ xx.xx
Earnings Date 02/02/12 (unconfirmed)
Average Daily Volume = 727 thousand
Listed on November 15, 2011


Xilinx Inc. - XLNX - close: 31.76 change: -0.93

Stop Loss: 31.40
Target(s): 35.75
Current Gain/Loss: - 2.2%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
11/17 update: XLNX saw an intraday drop below support at $31.60 but shares didn't quite make it to our stop loss at $31.40. The trade is still open. If the stock market and XLNX open higher tomorrow then readers can use this dip as a new bullish entry point.

Earlier Comments:
The plan was to keep our position size small to limit risk. Our multi-week target is $35.75.

(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

Allegheny Technologies Inc. - ATI - close: 48.36 change: -1.64

Stop Loss: 47.75
Target(s): 56.75
Current Gain/Loss: -5.6%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
11/17 update: Another day of stock market weakness was enough to push ATI below support near $48.00. Shares hit our stop loss at $47.75.

current Position: Long ATI stock @ 50.60, exit 47.75 (-5.6%)

- or -

DEC $52.50 call (ATI1117L52.5) Entry $2.75, exit 1.25 (-54.5%)

11/16 new stop loss @ 47.75
11/14 trade triggered at $50.60

chart:

Entry on November 14 at $50.60
Earnings Date 01/26/12 (unconfirmed)
Average Daily Volume = 2.5 million
Listed on November 12, 2011


Honeywell Intl. - HON - close: 52.60 change: -0.69

Stop Loss: 52.40
Target(s): 58.50
Current Gain/Loss: - 3.6%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
11/17 update: HON is breaking down under some short-term support levels. The stock hit our stop loss at $52.40 this afternoon. I'd keep HON on your watch list for a dip or a bounce near $50.00, which should be stronger support.

Current Position: Long HON stock @ $54.40, exit 52.40 (-3.6%)

- or -

DEC $55 call (HON1117L55) Entry $1.78 exit $1.10 (-38.2%)

11/17 stopped out @ 52.40
11/16 HON broke down under support near $54 and its 10 and 200-dma. More conservative traders may want to exit immediately
11/11 trade opened on HON's gap higher at $54.40
11/09 adjusted entry point strategy to Trigger @ 54.25, moved stop loss to $52.40

chart:

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


Juniper Networks - JNPR - close: 22.73 change: -1.25

Stop Loss: 22.95
Target(s): 29.00
Current Gain/Loss: - 3.2%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
11/17 update: Technology stocks were underperformers today. JNPR helped lead the way down with a -5.2% drop. Shares hit our stop loss at $22.95.

Earlier Comments:
The plan was to keep positions small to limit our risk.

(small positions)

current Position: Long JNPR stock @ $23.72, exit 22.95 (-3.2%)

- or -

JAN $25 call (JNPR1221A25) Entry $1.50 exit $1.17 (-22.0%)

11/17 stopped out @ 22.95
11/16 new stop loss @ 22.95
11/12 new stop loss @ 22.70
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

chart:

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


Red Hat, Inc. - RHT - close: 49.58 change: -2.31

Stop Loss: 49.40
Target(s): 54.90
Current Gain/Loss: - 1.6%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
11/17 update: The relative strength we saw in RHT earlier this week has vanished. The stock plunged with a -4.4% decline today. Shares broke support near $50.00 and hit our stop loss at $49.40 this afternoon.

Earlier Comments:
Our plan was to keep positions small to limit our risk.

(small positions)

current Position: Long RHT stock @ $50.25, exit 49.40 (-1.6%)

- or -

DEC $52.50 call (RHT1117L52.5) Entry $1.50 exit $1.20 (-20.0%)

11/17 stopped out at $49.40
11/16 new stop loss @ 49.40
11/11 trade opened at $50.25
11/09 adjusted entry point strategy: Trigger @ 50.25, stop loss 48.45

chart:

Entry on November 11 at $50.25
Earnings Date 12/21/11 (unconfirmed)
Average Daily Volume = 2.1 million
Listed on November 8, 2011