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Call Updates

Amazon.com - AMZN - cls: 78.50 chg: 1.01 stop: 72.45*new*

AMZN rose again on Wednesday and shares came within one cent of our target. The intraday high was $79.49 and our initial target is the $79.50-80.00 range. The $80.00 level looks like short-term resistance so traders may want to lock in some gains now or on another rise toward $80.00. We do have an aggressive target in the $84.00-85.00 range. Please note that we're raising the stop loss to $72.45. We would not suggest new positions at this time.

Picked on August 19 at $ 75.02
Change since picked: 3.48
Earnings Date 10/23/07 (unconfirmed)
Average Daily Volume = 10.1 million

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L.B.Foster Co. - FSTR - cls: 36.96 chg: -0.03 stop: 34.59

The good news with FSTR is that the stock didn't change much from yesterday. The bad news is that FSTR hasn't changed much from yesterday. Lack of follow through lower on yesterday's bearish reversal is encouraging but FSTR displayed relative weakness again with a decline on a day where most of the market was higher. We would still expect a dip toward $36.00 at a minimum and probably the $35 region. We're not suggesting new positions at this time. We're not exiting early because FSTR still has a bullish pattern of higher lows. We have two targets. Our first target is the $39.90-40.00 range. Our second target is the $42.00-42.50 zone. Please note that this remains an aggressive, higher-risk play.

Picked on August 14 at $ 37.33
Change since picked: - 0.37
Earnings Date 10/25/07 (unconfirmed)
Average Daily Volume = 148 thousand

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Goldman Sachs - GS - cls: 177.89 chg: 2.41 stop: 167.45

GS continues to bounce. The stock rose 1.3%. The failed rally at $180 this morning is a concern but we would still consider new bullish positions at this time. More conservative traders may want to wait for another rise over $180 or $181 to initiate positions. Overall we don't see any big changes from our weekend comments. We have two targets. Our first target is the $184.75-185.00 range. Our second target is the $194.00-195.00 range. One of our biggest risks is the intraday swings that could easily stop us out.

Picked on August 19 at $175.00
Change since picked: 2.89
Earnings Date 09/12/07 (unconfirmed)
Average Daily Volume = 11.6 million

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DJ Transports iShares - IYT - cls: 88.22 chg: 1.87 stop: 83.99*new*

Another drop in crude oil futures helped the transports rally. The IYT ishares rose 2.1% and cleared short-term resistance at the 10-dma. More conservative traders may want to exit in the $88.85-89.00 range because the 200-dma near $88.90 could be technical resistance. We continue to target the $89.75-90.00 range. Please note that we're adjusting the stop loss to $83.99.

Picked on August 19 at $ 85.43
Change since picked: 2.79
Earnings Date 00/00/00 (unconfirmed)
Average Daily Volume = 600 thousand

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Sears - SHLD - cls: 143.63 chg: 2.38 stop: 134.85

Retail stocks did well with the RLX rising 1.79%. Shares of SHLD tried to keep pace with a 1.68% gain. SHLD has a strong short-term trend of higher lows. We would still consider new positions here or on a dip near $140. We have two targets. Our first target is the $149.50-150.00 range. Our more aggressive target is the $157.00-160.00 zone. We do not want to hold over the very late August earnings report (unconfirmed date). The only information we found was a press release saying SHLD plans to report earnings on or before August 30th.

Picked on August 21 at $141.50
Change since picked: 2.13
Earnings Date 08/30/07 (unconfirmed)
Average Daily Volume = 2.1 million
 

Put Updates

None
 

Strangle Updates

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Dropped Calls

Freeport McMoran - FCX - cls: 85.59 chg: 4.30 stop: 74.45

Target exceeded. FCX rallied again. The stock gapped open at $83.20 and closed near its highs for the session above potential resistance at the $85.00 level. The stock looks poised to challenge the 50-dma near $87.00 soon. Our target was the $83.50-85.00 range.

Picked on August 19 at $ 76.90
Change since picked: 8.69
Earnings Date 10/17/07 (unconfirmed)
Average Daily Volume = 10.3 million
 

Dropped Puts

None
 

Dropped Strangles

None
 

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