Editor's Note:
The stock market's gains (or losses) were generally mild today as investors wait for the nonfarm payroll report out Friday morning. If the jobs data is stronger than expected then look for the market to gap higher. On the other hand if the data is bearish then look for a gap down.

We are choosing to close a few plays at the open tomorrow.

Current Portfolio:


BULLISH Play Updates

Autodesk, Inc. - ADSK - close: 36.82 change: -0.18

Stop Loss: 35.75
Target(s): 39.90
Current Gain/Loss: + 0.8%
Time Frame: up to the late Feb. earnings report
New Positions: see below

Comments:
02/02 update: Did ADSK just produced a bearish double top? The stock spiked toward resistance near $38.00 and reversed. I am not suggesting new positions at this time. We will raise our stop loss to $35.75.

Our target is $39.90 but more aggressive traders could definitely aim higher. We do not want to hold over the late February earnings report. FYI: The Point & Figure chart for ADSK is bullish with a long-term $49.00 target.

current Position: Long ADSK stock @ 36.50

- or -

Long Feb $37 call (ADSK1218B37) Entry $1.08

02/02/12 new stop loss @ 35.75
02/01/12 new stop loss @ 35.25
01/26/12 the action today looks like a potential top or bearish reversal. Be careful!

Entry on January 26 at $36.50
Earnings Date 02/23/12 (unconfirmed)
Average Daily Volume = 2.5 million
Listed on January 24, 2011


BioMarin Pharma. - BMRN - close: 37.29 change: -0.45

Stop Loss: 35.40
Target(s): 38.50
Current Gain/Loss: + 3.0%
Time Frame: up to the Feb. 16th earning report
New Positions: see below

Comments:
02/02 update: We were expecting some profit taking after yesterday's big rally higher. The pull back may not be over yet. I am not suggesting new positions at this time.

Earlier Comments:
We want to keep our position size small. Our target is $38.50. More aggressive traders could aim higher but we do not want to hold over the Feb. 16th earnings report. FYI: The Point & Figure chart for BMRN is bullish with a long-term $47.50 target.

(small positions)

current Position: long BMRN stock @ 36.20

- or -

Long Feb. $35 call (BMRN1218B35) Entry $1.90

02/01/12 new stop loss @ 35.40

Entry on February 01 at $36.60
Earnings Date 02/16/12 (confirmed)
Average Daily Volume = 1.0 million
Listed on January 28, 2011


Cisco Systems Inc. - CSCO - close: 19.80 change: +0.00

Stop Loss: 18.95
Target(s): 21.75
Current Gain/Loss: + 2.2%
Time Frame: exit ahead of the Feb. 8th earnings report
New Positions: see below

Comments:
02/02 update: Once again CSCO has rallied toward resistance near $20.00 and stalled. If the jobs report is positive tomorrow it might be the catalyst CSCO needs to break higher. I am not suggesting new positions at this time.

Keep in mind we only have a few days left. We plan to exit prior to the Feb. 8th earnings report.

Earlier Comments:
We want to ride the stock up to its early February earnings report but exit prior to the announcement. FYI: The Point & Figure chart for CSCO is bullish with a long-term $27.00 target.

Long Position: Long CSCO stock @ 19.37

- or -

Long Feb $20 call (CSCO1218B20) Entry $0.43

01/24/12 new stop loss @ 18.95, target adjusted to $21.75
01/18/12 trade opened on gap higher at $19.37

Entry on January 18 at $19.37
Earnings Date 02/08/12 (confirmed)
Average Daily Volume = 39.0 million
Listed on January 12, 2011


Walt Disney Company - DIS - close: 38.91 change: -0.42

Stop Loss: 37.90
Target(s): 42.50
Current Gain/Loss: - 1.7%
Time Frame: up to earnings on Feb. 7th
New Positions: see below

Comments:
02/02 update: Big picture the trend in DIS looks bullish but short-term the upward momentum has stalled. Shares are stuck in this $38.50-39.50ish trading range. I am suggesting we exit our DIS positions tomorrow at the opening bell.

(Small Positions)

Suggested Position: Long DIS stock @ 39.60

- or -

Long Feb $40 call (DIS1218B40) Entry $0.87

02/02/12 prepare to exit tomorrow at the open
01/25/12 trade opened at $39.60
01/23/12 adjusted strategy. Use trigger @ 39.60
01/21/12 trade not open yet. try again.

Entry on January 25 at $39.60
Earnings Date 02/07/12 (confirmed)
Average Daily Volume = 7.7 million
Listed on January 19, 2011


Eaton Corp. - ETN - close: 49.33 change: -0.11

Stop Loss: 47.45
Target(s): 54.75
Current Gain/Loss: unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see below

Comments:
02/02 update: It was a very quiet day for ETN with shares drifting sideways in a narrow range. We are still waiting for a breakout past resistance.

I am suggesting bullish positions if ETN can trade at $50.25 or higher. We'll use a stop loss at $47.45 to start. Our multi-week target is $54.75.

FYI: The Point & Figure chart for ETN is bullish with a long-term $67 target.

Breakout Trigger to buy @ $50.25

Suggested Position: stock @ $50.25

- or -

buy the FEB $50 call (ETN1218B50)

- or -

buy the MAR $50 call (ETN1221C50)

Entry on January xx at $ xx.xx
Earnings Date 01/26/12
Average Daily Volume = 3.7 million
Listed on January 28, 2011


Flextronics Intl. Ltd. - FLEX - close: 6.99 change: -0.10

Stop Loss: 6.75
Target(s): 8.00
Current Gain/Loss: unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see below

Comments:
02/02 update: Our momentum trade on FLEX is not open yet. The stock gapped open lower and underperformed with a -1.4% decline. Nimble traders could look for a dip to its 10-dma as a potential entry point. I am suggesting we try again.

We want to open new positions tomorrow morning but only if both FLEX and the S&P 500 index open higher. We'll use a stop loss at $6.75, just under the 10-dma and prior resistance at $6.80.

Our multi-week target is $8.00. FYI: The Point & Figure chart for FLEX is bullish with a $9.00 target.

Do not enter position unless FLEX and the S&P 500 are both positive at the open

(small positions)

Suggested Position: buy FLEX stock @ the open

- or -

buy the Feb $7.00 call (FLEX1218B7)

02/02/12 not open yet. try again.

Entry on February xx at $ xx.xx
Earnings Date 04/26/12 (unconfirmed)
Average Daily Volume = 6.0 million
Listed on February 01, 2011


Gulfport Energy - GPOR - close: 34.37 change: +1.44

Stop Loss: 31.85
Target(s): 37.00
Current Gain/Loss: + 0.6%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
02/02 update: GPOR is finally showing some strength. Today's move looks like a breakout from the bull-flag pattern. If both GPOR and the market open positive tomorrow we can use it as a new entry point. I am raising our stop loss up to $31.85, just under Wednesday's low.

Our target is $37.00 but keep an eye on the $35.00 level, which could be resistance.

Current Position: long GPOR stock @ 34.15

- or -

Long FEB $35 call (GPOR1218B35) Entry $1.25

02/02/12 new stop loss @ 31.85
01/26/12 Trade finally opened. GPOR @ 34.15
01/25/12 trade did not open. try again.
01/24/12 trade did not open. try again.

Entry on January 26 at $34.15
Earnings Date 03/12/12 (unconfirmed)
Average Daily Volume = 522 thousand
Listed on January 23, 2011


Human Genome Sciences - HGSI - close: 10.14 change: -0.01

Stop Loss: 9.65
Target(s): 11.00
Current Gain/Loss: +11.9%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
02/02 update: HGSI chopped sideways to close virtually unchanged on the session. Tomorrow could be volatile. I'm expecting stocks to move big either way on the jobs data. I am raising our stop loss on HGSI to $9.65. Readers may want to seriously consider an early exit right now. I am not suggesting new positions at this time.

Earlier Comments:
Keep in mind this is an aggressive trade and HGSI can be a volatile stock. Our target is $11.00 but readers should note that the $10.00 level and the simple 100-dma could act as overhead resistance. I am suggesting we keep our position size small to limit our risk.

(small positions)

current Position: Long HGSI stock @ $9.06

- or -

Long Feb $10 call (HGSI1218B10) Entry $0.59

02/02/12 new stop loss @ 9.65
01/28/12 new stop loss @ 9.45, readers may want to exit and lock in profits now.
01/26/12 new stop loss @ 8.49
01/25/12 readers may want to take profits now (HGSI @ $9.92)
01/19/12 HGSI gapped open higher at $9.06 on a new "buy" rating

Entry on January 19 at $9.06
Earnings Date 02/23/12 (unconfirmed)
Average Daily Volume = 7.1 million
Listed on January 18, 2011


Host Hotels & Resorts - HST - close: 16.28 change: -0.26

Stop Loss: 15.95
Target(s): 17.90
Current Gain/Loss: - 0.9%
Time Frame: up to the Feb. 14th earnings report
New Positions: see below

Comments:
02/02 update: I am growing worried that the upward momentum in HST is stalling. Therefore I am suggesting we exit positions tomorrow at the opening bell. The plan was to keep our position size very small.

(Small Positions!!)

current Position: Long HST stock @ $16.44

02/02/12 prepare to exit at the open tomorrow.
01/31/12 trade opened on gap higher
01/30/12 still not open. try again.
01/28/12 adjusted entry strategy. Buy HST stock at the open but only if stock and S&P 500 open positive. New stop loss at $15.95. Small positions only!
01/24/12 trade not open yet. adjust strategy to buy the dip at $16.00.

Entry on January 31 at $16.44
Earnings Date 02/14/12 (confirmed)
Average Daily Volume = 7.5 million
Listed on January 21, 2011


J.P.Morgan Chase & Co - JPM - close: 37.55 change: -0.05

Stop Loss: 36.45
Target(s): 42.50
Current Gain/Loss: - 1.3%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
02/02 update: JPM flirted with a bullish breakout today. Shares traded above resistance near $38.00 on an intraday basis but could not hold these gains. More conservative traders may want to exit early. At this point I'd want to see a rally past $38.25 before considering new bullish positions. Please note our new stop loss at $36.45.

Earlier Comments:
More conservative traders may want to wait for JPM to actually close over $38.00 before launching new positions. Our multi-week target is $42.50. FYI: The Point & Figure chart for JPM is bullish with a long-term $56 target.

Current Position: Long JPM stock @ $38.05

- or -

Long Feb $38 call (JPM1218B38) Entry $1.00

- or -

Long Mar $38 call (JPM1217C38) Entry $1.50

02/02/12 new stop loss @ 36.45
01/26/12 triggered at $38.05
01/24/12 still not open. adjust strategy to use a trigger @ 38.05
01/23/12 trade not open yet, S&P 500 opened negative. Try again.

Entry on January 26 at $38.05
Earnings Date 01/13/12
Average Daily Volume = 35.2 million
Listed on January 21, 2011


Marvell Technology - MRVL - close: 16.51 change: +0.57

Stop Loss: 15.40
Target(s): 19.00
Current Gain/Loss: + 0.6%
Time Frame: exit ahead of earnings on Feb. 23rd.
New Positions: see below

Comments:
02/02 update: Positive analyst comments today helped fuel a +3.5% rally in shares of MRVL. The stock has broken out past resistance to close at new multi-month highs. Our trigger to open bullish positions was hit at $16.40. If both MRVL and the S&P 500 open positive tomorrow I would still consider new positions.

Earlier Comments:
Let's keep our position size small. Keep an eye on the $18.00 area as potential overhead resistance. FYI: The Point & Figure chart for MRVL is bullish with a $21.00 target.

(small positions)

current Position: Long MRVL stock @ 16.40

- or -

Long Feb $17 call (MRVL1218B17) Entry $0.25

- or -

Long May $17 call (MRVL1219E17) Entry $1.06

02/02/12 triggered at $16.40
01/28/12 adjusting our entry trigger to $16.40
01/27/12 MRVL issued an earnings warning

Entry on February 02 at $16.40
Earnings Date 03/23/12 (confirmed)
Average Daily Volume = 14.1 million
Listed on January 25, 2011


Morgan Stanley - MS - close: 19.52 change: +0.13

Stop Loss: 18.25
Target(s): 21.90 (or 23.75)
Current Gain/Loss: + 1.7%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
02/02 update: The rally in MS paused with shares moving sideways today but the stock managed to eke out a +0.6% gain. Broken resistance in the 419.00-18.75 area should be support. I am raising our stop loss up to $18.25. I am not suggesting new positions at this time. Our multi-week target $21.90 but more aggressive traders can aim for the $24.00 area instead.

current Position: Long MS stock @ $19.19

- or -

Long FEB $20 call (MS1218B20) Entry $0.35

- or -

Long APR $20 call (MS1221D20) Entry $1.16

02/02/12 new stop loss @ 18.25
02/01/12 Trade opened on MS' gap open higher at $19.19, above our trigger of $19.05

Entry on February 01 at $19.19
Earnings Date 04/23/12 (unconfirmed)
Average Daily Volume = 25.5 million
Listed on January 28, 2011


Smith & Wesson Holding Corp. - SWHC - close: 5.24 change: +0.05

Stop Loss: 4.75
Target(s): 5.65 or 6.40
Current Gain/Loss: + 8.4%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
02/02 update: SWHC continues to advance higher and shares posted another +0.9% gain. The stock is also growing more and more overbought. I am not suggesting new positions at this time. More conservative traders may want to take profits now. We are raising our stop loss up to $4.75.

Earlier Comments:
I do consider this a very aggressive trade and we want to keep our position size small. The $5.00 level could be resistance but we're going to aim higher. I am setting two different targets depending on your risk tolerance. I'd aim for $5.65 or $6.40. FYI: The Point & Figure chart for SWHC is bullish with a long-term $9.50 target.

(Small Positions)

Suggested Position: long SWHC stock @ $4.83

02/02/12 new stop loss @ 4.75
01/28/12 new stop loss @ 4.65
01/24/12 new stop loss @ 4.55

Entry on January 17 at $4.83
Earnings Date 03/12/12 (unconfirmed)
Average Daily Volume = 962 thousand
Listed on January 14, 2011


Teck Resources - TCK - close: 42.63 change: +0.29

Stop Loss: 40.75
Target(s): 49.00
Current Gain/Loss: - 1.0%
Time Frame: up to Feb 9 earnings report.
New Positions: see below

Comments:
02/02 update: The overall trend for TCK looks bullish but upward momentum has stalled. Shares are chopping sideways on either side of technical resistance at the simple 200-dma. I am suggesting we go ahead and exit positions tomorrow at the opening bell. We might look at TCK again if shares can close over $44.00 down the road.

(small positions)

current Position: long TCK stock @ 43.10

- or -

Long Feb $43 call (TCK1218B43) entry $2.05

02/02/12 prepare to exit tomorrow at the open.
01/26/12 trade opened at $43.10
01/25/12 adjusted exit target to $47.00.

Entry on January 26 at $43.10
Earnings Date 02/09/12 (confirmed)
Average Daily Volume = 2.3 million
Listed on January 23, 2011


Textainer Group Holdings - TGH - close: 31.39 change: -0.20

Stop Loss: 30.60
Target(s): 34.00
Current Gain/Loss: + 2.5%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
02/02 update: TGH continues to see a mild correction lower. More conservative traders may want to exit early. I am not suggesting new positions at this time.

Earlier Comments:
A breakout could spark some short covering. The most recent data listed short interest at 11% of the very small 12.8 million share float. That raises the risk of a short squeeze. Plus, TGH should appeal to the high-yield crowd since shares sport a 4.7% yield. NOTE: TGH does have options but the spreads are a little wide.

current Position: Long TGH stock @ 30.60

01/28/12 new stop loss @ 30.60
01/25/12 new stop loss @ 29.90
01/19/12 new stop loss @ 29.40
01/13/12 TGH hit our trigger at $30.60 and reversed in less than one second. I am suggesting caution here.

Entry on January 13 at $30.60
Earnings Date 02/09/12 (unconfirmed)
Average Daily Volume = 172 thousand
Listed on January 11, 2011


Zumiez Inc. - ZUMZ - close: 28.55 change: -0.83

Stop Loss: 27.40
Target(s): 32.25 or 34.50
Current Gain/Loss: - 0.7%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
02/02 update: Uh-oh! ZUMZ displayed some volatility today as investors reacted to January same-store sales figures. I am surprised at the weakness in ZUMZ today. Shares erased yesterday's gain. The company reported same-store sales growth of +10.8% compared to analysts' estimates for +4.3% growth. I would have expected a rally on this news not profit taking. Look for a dip or a bounce near $28.00 or the 50-dma as a potential entry point.

Earlier Comments:
I am setting two different targets. Conservative traders can exit at $32.25. More aggressive traders can exit at $34.50.

current Position: Long ZUMZ stock @ 28.75

- or -

Long Feb. $30 call (ZUMZ1218B30) Entry $1.00

02/01/12 Trade opened with ZUMZ gapping higher at $28.75

Entry on February 01 at $28.75
Earnings Date 03/12/12 (unconfirmed)
Average Daily Volume = 627 thousand
Listed on January 31, 2011


BEARISH Play Updates

Portfolio Recovery Associates - PRAA - close: 67.28 change: +0.25

Stop Loss: 68.05
Target(s): 60.50
Current Gain/Loss: - 2.2%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
02/02 update: PRAA is not cooperating. Tomorrow's performance will likely be dictated by the jobs data on Friday morning. I am not suggesting new positions at this time.

We have a stop loss at $68.05. More conservative traders may want to lower their stop closer to the $67.50 area.

Earlier Comments:
Our target is $60.50. More aggressive trades could aim lower. FYI: The Point & Figure chart for PRAA is bearish with a $56.00 target.

current Position: short PRAA stock @ $65.83

Entry on February 01 at $65.83
Earnings Date 02/15/12 (unconfirmed)
Average Daily Volume = 156 thousand
Listed on January 31, 2011