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Call Updates

Express Scripts - ESRX - close: 65.70 chg: -0.21 stop: 61.14

ESRX managed to hit another new high this morning before pulling back and testing short-term support near $64.50 and its rising 10-dma. The larger trend is still positive and bulls are still in control in spite of recent market volatility. We would consider new bullish positions here but readers may want to use a tighter stop loss. The P&F chart is bullish with a $97 target. Our short-term target is the $69.50-70.00 range.

Picked on November 13 at $ 64.67
Change since picked: + 1.03
Earnings Date 02/07/08 (unconfirmed)
Average Daily Volume = 2.4 million

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Gilead Sciences - GILD - cls: 43.75 change: +0.47 stop: 41.74

The market may have seen some intraday volatility but GILD traded inside yesterday's range. The afternoon bounce is encouraging but not very inspiring. A move over the $44.50-44.75 zone would improve our outlook on GILD. We continue to suggest caution here. Our target is the $47.00-48.00 range. There might be some resistance its 10-dma near $45.00.

Picked on November 13 at $ 43.11
Change since picked: + 0.64
Earnings Date 01/31/08 (unconfirmed)
Average Daily Volume = 7.6 million

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Goodrich Corp. - GR - close: 70.02 change: -0.00 stop: 67.90

Shares of GR traded in a $2.00 range but the stock closed unchanged on the session. Look for a rally past $71.25, which is above today's high, as a new bullish entry point. An alternative entry point would be a strong bounce from the rising 50-dma near $69.00. More conservative traders might want to ratchet up their stop loss toward to 50-dma. We have two targets. Our conservative target is the $74.90-75.00 range. Our more aggressive target is the $78.00-80.00 range. The P&F chart is bullish and points to a $99 target. FYI: GR is due to present at the Aerospace and Defense conference on Thursday, November 29th, 2007 at 11:30 a.m. ET.

Picked on November 05 at $ 71.05
Change since picked: - 1.03
Earnings Date 10/25/07 (confirmed)
Average Daily Volume = 1.0 million

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Las Vegas Sands - LVS - cls: 113.98 chg: +3.49 stop: 109.90

LVS is no stranger to volatility. The stock saw close to a $6.00 range. Traders bought the dip this morning and LVS hit $116 before the midday market sell-off occurred. Investors bought the dip near $110 again and LVS bounced with a $3.00 gain in just the last thirty minutes. The bounce from support looks like a new bullish entry point. LVS has already hit our initial target near $117. Our secondary, aggressive target is the $121.00-122.50 zone.

Picked on November 08 at $111.60
Change since picked: + 2.38
Earnings Date 11/02/07 (confirmed)
Average Daily Volume = 4.0 million

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ExxonMobil - XOM - close: 87.82 chg: +3.71 stop: 82.99

It was perfect timing for today's broker comments. XOM had drifted lower toward significant support at the 200-dma. This morning before the opening bell UBS upgraded shares of XOM from a neutral to a "buy" and the stock soared. XOM rallied through resistance at its 10-dma and at its bearish trend of lower highs. Rising crude oil prices helped fuel the move. More conservative traders might want to adjust their stops toward $84.00. We would consider new bullish positions here or on a dip in the $87.00-86.00 range. Our target is the $92.50-95.00 range. More conservative traders may want to lock in some gains near $90.00.

Picked on November 13 at $ 86.75
Change since picked: + 1.07
Earnings Date 01/31/08 (unconfirmed)
Average Daily Volume = 24.2 million
 

Put Updates

Canadian Pacific - CP - cls: 62.86 change: +0.18 stop: 66.26

The general pattern in CP was similar to the market's today but the afternoon bounce in CP looks like it's failing. The stock continues to look bearish under its 10-dma. This still looks like a bearish entry point or readers can wait for a new relative low under $62.30 as an entry. Our target is the $57.50-57.00 range. The Point & Figure chart is bearish and points to a $51 target

Picked on November 19 at $ 62.85
Change since picked: + 0.01
Earnings Date 01/30/08 (unconfirmed)
Average Daily Volume = 553 thousand

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ESSEX Property - ESS - close: 101.81 change: -1.75 stop: 107.31

The market's widespread midday sell-off pushed ESS under support near $102 and actually under the $100 mark. Shares hit $99.39 before bouncing. We were suggesting a trigger to buy puts at $101.75 so the play is now open. Our target is support in the $94.00-93.00 range. The P&F chart is much more bearish with a $78 target.

Picked on November 20 at $101.75
Change since picked: + 0.06
Earnings Date 10/31/07 (confirmed)
Average Daily Volume = 272 thousand

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J.B.Hunt - JBHT - close: 25.00 change: -0.34 stop: 27.05

Intraday market weakness pushed JBHT to a low of $24.42. We were suggesting a trigger to buy puts at $24.95 so the play is now open. Do not be surprised to see an oversold bounce back toward what should be support near $26.00 and its 10-dma. A failed rally under $26 could be used as a new bearish entry point. Our target is the $22.50-22.00 range. Today's move has produced a brand new P&F chart sell signal with a $20 target.

Picked on November 20 at $ 24.95
Change since picked: + 0.05
Earnings Date 01/29/08 (unconfirmed)
Average Daily Volume = 1.8 million

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PACCAR - PCAR - close: 47.45 change: +0.71 stop: 50.81

We continue to suggest caution on PCAR. Yesterday we warned readers that PCAR was trying to form a short-term bottom and the action today supports that idea. PCAR did struggle near the $48 region but we would expect a bounce soon toward the 10-dma (48.80) or the $50.00 level. Wait for a new failed rally before launching new bearish plays. Our target is the $42.50-42.00 range. The Point & Figure chart is forecasting at $38 target.

Picked on November 16 at $ 46.99 *triggered
Change since picked: + 0.46
Earnings Date 01/30/08 (unconfirmed)
Average Daily Volume = 2.7 million

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Regency Centers - REG - cls: 65.39 chg: -1.34 stop: 72.01

REG continues to sink. The stock lost 2% on above average volume. We don't see any changes from our previous comments. More conservative traders may want to use a tighter stop near $70. Our suggested stop is above resistance near $72.00. Our target is the $62.50-62.00 range near the August 2007 lows.

Picked on November 18 at $ 67.56
Change since picked: - 2.17
Earnings Date 10/27/07 (unconfirmed)
Average Daily Volume = 570 thousand
 

Strangle Updates

None
 

Dropped Calls

L-3 Comm. - LLL - cls: 108.58 chg: -2.92 stop: 107.99

Early morning market strength lifted LLL above $110 again but the midday sell-off was too much and shares of LLL traded under short-term support near $108. The stock hit our stop loss at $107.99. LLL has already hit our first target in the $114-115 range. We would keep an eye on LLL for a new rally over $111 or $112, which might be a new bullish entry point.

Picked on October 29 at $108.10
Change since picked: + 0.48
Earnings Date 10/25/07 (confirmed)
Average Daily Volume = 627 thousand
 

Dropped Puts

None
 

Dropped Strangles

None
 

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