Editor's Note:
The U.S. markets are consolidating sideways as market participants wait for headlines out of Friday's EU meeting.

-James

Current Portfolio:


BULLISH Play Updates

AutoNation Inc. - AN - close: 36.25 change: +0.01

Stop Loss: 34.75
Target(s): 39.50
Current Gain/Loss: + 5.2%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
12/07 update: The main headline for AN today was news that the company had signed a new $1.7 billion credit agreement The stock really didn't react much to the news. The stock dipped lower this morning but bounced near the rising 10-dma. Shares closed almost unchanged on the session.

I am not suggesting new positions at this time.

Earlier Comments:
Our multi-week target is $39.50. More conservative traders may want to exit in the $37.75 region instead.

current Position: Long AN stock @ $34.45

- or -

Long Jan $35 call (AN1221A35) Entry $1.95

12/03/11 new stop loss @ 34.75
11/30/11 new stop loss @ 33.45

Entry on November 22 at $34.45
Earnings Date 02/02/12 (unconfirmed)
Average Daily Volume = 1.3 million
Listed on November 21, 2011


Activision Blizzard, Inc. - ATVI - close: 12.27 change: -0.11

Stop Loss: 11.59
Target(s): 13.45
Current Gain/Loss: - 0.2%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
12/07 update: ATVI is still fading lower. We've been expecting a dip toward the $12.20-12.00 zone. I'd wait for a dip or a bounce near $12.00 before considering new positions.

current Position: Long ATVI stock @ $12.30

- or -

Long FEB $13 call (ATVI1218B13) Entry $0.42

11/30/11 trade open. ATVI gaps higher at $12.30
11/29/11 ATVI gapped open lower. Trade not open yet.

Entry on November 30 at $12.30
Earnings Date 02/09/12 (unconfirmed)
Average Daily Volume = 14.9 million
Listed on November 28, 2011


Brocade Communications - BRCD - close: 5.56 change: +0.01

Stop Loss: 4.98
Target(s): 6.45
Current Gain/Loss: + 5.9%
Time Frame: 8 to 12 weeks
New Positions: see below

Comments:
12/07 update: BRCD spent another session consolidating sideways under the $5.60 level. I don't see any changes from my prior comments. Readers may want to wait for a new bounce in the $5.25-5.20 zone before considering a new entry point.

Earlier Comments:
Keep in mind that the simple 200-dma near $5.40 could still be technical resistance. I expect this trade to take many weeks to play out but we're aiming for $6.75. We'll make adjustments to our exit strategy as needed.

current Position: Long BRCD stock @ $5.25

- or -

Long 2012JAN $5.50 call (BRCD1221A5.5) Entry $0.37

12/05/11 new stop loss @ 4.98
12/03/11 new stop loss @ 4.84

Entry on November 28 at $5.25
Earnings Date 02/16/12 (unconfirmed)
Average Daily Volume = 8.6 million
Listed on November 26, 2011


Expedia Inc. - EXPE - close: 29.21 change: +0.40

Stop Loss: 27.90
Target(s): 32.00
Current Gain/Loss: + 0.7%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
12/07 update: EXPE dipped to its 100-dma this morning and then rebounded sharply to hit new relative highs at $29.54. The stock outperformed the market with a +1.3% gain. I would still consider new positions now.

(Small Positions)

current Position: long EXPE stock @ $29.00

- or -

Long 2012Jan $30 call (EXPE1221A30) Entry 0.95

Entry on December 06 at $29.00
Earnings Date 02/09/12 (unconfirmed)
Average Daily Volume = 3.7 million
Listed on December 05, 2011


Fuel Systems Solutions, Inc. - FSYS - close: 18.22 change: -0.24

Stop Loss: 17.65
Target(s): 20.50
Current Gain/Loss: unopened
Time Frame: 3 to 6 weeks
New Positions: Yes, see below

Comments:
12/07 update: Our FSYS trade is not open yet. The stock opened lower negating our entry point. I am suggesting we try again. Open bullish positions tomorrow morning but only if both FSYS and the S&P 500 index open positive.

We want to keep our position size small to limit our risk.

*see Entry Details above* (small positions)

Suggested Position: buy FSYS stock @ the open

- or -

buy the 2012Jan $20 call (FSYS1221A20)

Entry on December xx at $ xx.xx
Earnings Date 03/05/12 (unconfirmed)
Average Daily Volume = 282 thousand
Listed on December 06, 2011


iShares Gold ETF - IAU - close: 16.98 change: +0.11

Stop Loss: 16.85
Target(s): 19.75*
Current Gain/Loss: unopened
Time Frame: 6 to 9 weeks or more
New Positions: Yes, see below

Comments:
12/07 update: Gold prices delivered a gain today but the gold ETFs are still trading inside their triangular consolidation. I don't see any changes from my weekend comments.

We are suggesting a trigger for small bullish positions at $17.25. If triggered at $17.25 we'll set our multi-week target at $19.75. The 2011 highs near $18.50 could definitely prove to be resistance. We want to keep our position size small.

Trigger @ 17.25

Suggested Position: buy the IAU @ 17.25

- or -

buy the April $18 call (IAU1221D18)

*final exit price will be adjusted as the trade progresses.

Entry on December xx at $ xx.xx
Earnings Date --/--/--
Average Daily Volume = 5.0 million
Listed on December 03, 2011


Ipath Copper ETN - JJC - close: 45.70 change: -0.41

Stop Loss: 44.75
Target(s): 48.90
Current Gain/Loss: + 0.8%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
12/07 update: Copper prices and the JJC continue to churn sideways. There is no change from my prior comments. I am not suggesting new positions at this time.

current Position: Long JJC (ETF) @ $45.30

- or -

Long JAN $45 call (JJC1221A45) Entry $3.30

12/03/11 new stop loss @ 44.75
11/30/11 JJC gaps higher at $45.30. Adjusting stop loss to $42.90 and moving exit target to $48.90.

Entry on November 30 at $45.30
Earnings Date --/--/-- (unconfirmed)
Average Daily Volume = 148 thousand
Listed on November 29, 2011


Kodiak Oil & Gas - KOG - close: 8.97 change: -0.07

Stop Loss: 8.20
Target(s): 9.45
Current Gain/Loss: +19.4%
Time Frame: two to three months
New Positions: see below

Comments:
12/07 update: KOG spent another session consolidating sideways. There is no change from my prior comments. More conservative traders may want to go ahead and lock in a gain now or raise their stop loss closer to the $8.50 level.

We are not suggesting new positions at this time.

current Position: Long the stock @ 7.51

12/05 KOG gapped higher at $9.13. Exit on the March $7.50 calls at $2.15 (+72%)
12/05 new stop loss @ 8.20
12/03 plan to exit our March $7.50 calls @ Monday's open (currently +60%)
12/01 Readers may want to exit now to lock in a gain (+18.3%). I am adjusting our exit target to $9.45
11/30 new stop loss @ 7.75
11/28 new stop loss @ 7.49
11/23 new stop loss @ 7.38
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


NVIDIA Corp. - NVDA - close: 15.17 change: -0.09

Stop Loss: 14.75
Target(s): 19.50
Current Gain/Loss: unopened
Time Frame: 6 to 8 weeks, or more
New Positions: Yes, see below

Comments:
12/07 update: This is it, if you're a nimble trader waiting for the dip to $15.00, then this is your entry point. The newsletter is suggesting readers wait for a breakout past resistance near $16.00. I am suggesting a trigger to open positions at $16.30. We want to keep our position size small because NVDA can be a volatile stock.

Trigger @ 16.30 (small positions)

Suggested Position: buy NVDA stock @ 16.30

- or -

buy the 2012Jan $17.50 call (NVDA1221A17.5)

Entry on December xx at $ xx.xx
Earnings Date 02/16/12 (unconfirmed)
Average Daily Volume = 18.5 million
Listed on December 03, 2011


BEARISH Play Updates

Broadcom Corp. - BRCM - close: 30.82 change: +0.72

Stop Loss: 31.55
Target(s): 26.00
Current Gain/Loss: - 0.9%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
12/07 update: Hmm... more conservative traders may want to reconsider and exit our bearish BRCM trade early. The stock outperformed the market today with a +2.3% gain. Today's rebound left BRCM near the top of its sideways trading range. However, today's move also produced a bullish engulfing candlestick reversal pattern.

I am not suggesting new positions at this time. We have a stop loss at $31.55. You could always adjust your stop loss a little lower.

Our target is $26.00 although more aggressive traders could aim lower. FYI: The Point & Figure chart for BRCM is bearish with a $21.00 target.

Suggested Position: short BRCM stock @ $30.53

- or -

Long 2012Jan $28 PUT (BRCM1221M28) Entry $0.88

12/05/11 BRCM gapped open higher at $30.53.

Entry on December 05 at $ 30.53
Earnings Date --/--/-- (unconfirmed)
Average Daily Volume = 8.2 million
Listed on December 03, 2011


AT&T Inc. - T - close: 29.40 change: +0.23

Stop Loss: 30.05
Target(s): 24.25 or 22.75
Current Gain/Loss: + 0.0%
Time Frame: 6 to 9 weeks or more
New Positions: Yes, see below

Comments:
12/07 update: Our trade on AT&T is now open. Shares rallied late in the day and hit our trigger at $29.40. Shares of T are now at the top of their right shoulders to a huge head-and-shoulders pattern. T should have significant resistance in the $29.50-30.00 zone. I would still consider new positions now.

current Position: short T stock @ 29.40

- or -

Long 2012Jan $27.50 PUT (T1221M27.5) Entry $0.31

- or -

Long Mar $26 PUT (T1217O26) Entry $0.42

chart:

Entry on December 07 at $29.40
Earnings Date 01/26/12 (unconfirmed)
Average Daily Volume = 23.4 million
Listed on November 26, 2011