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Call Updates

Constellation Energy - CEG - cls: 99.15 chg: -0.38 stop: 94.45

CEG continues to show resilience. The stock rallied toward its recent highs before paring its gains. The minor loss today is pretty good considering the market-wide sell-off and triple-digit loss for the DJIA. At this time we would look for another dip and watch for a bounce in the $97.50-98.00 region as a potential entry point for bullish positions. However, considering the market environment (bearish) we'd be hesitant about opening any bullish positions. If you're feeling conservative then readers might want to raise their stop loss toward $96.00. The trend remains bullish. Our target is the $107.50-110.00 range.

Picked on November 20 at $100.56
Change since picked: - 1.41
Earnings Date 01/31/08 (unconfirmed)
Average Daily Volume = 1.3 million

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Energizer - ENR - close: 111.21 chg: -0.90 stop: 104.99

A midday spike to $112.81 was enough to hit our suggested trigger at $112.75 and open our bullish play in ENR. The trend still looks bullish but considering the market's weakness we would suggest extra caution if you're considering bullish plays. At this time we'd expect ENR to dip back toward $110 maybe $109. Watch for a bounce before considering new positions. Our target is the $119.00-120.00 range. We'll use a stop loss at $104.99 but more conservative traders could probably get away with a tighter stop near $107.50 or 109. The P&F chart points to a $157 target.

Picked on November 26 at $112.75 *triggered
Change since picked: - 1.54
Earnings Date 01/28/08 (unconfirmed)
Average Daily Volume = 511 thousand

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Express Scripts - ESRX - close: 62.77 chg: -2.06 stop: 62.45

Watch out! ESRX traded higher this morning but the strength quickly faded. It wasn't until the major indices began to sell-off this afternoon that ESRX broke down under the $64.00 mark. When shares traded under $64 profit taking began in earnest. ESRX lost 3.17% in what looks like a bearish reversal. We expect to be stopped out first thing Tuesday morning. ESRX might offer new trading opportunities down the road. The first level we would watch is potential support near $60 and its 50-dma.

Picked on November 13 at $ 64.67
Change since picked: - 1.90
Earnings Date 02/07/08 (unconfirmed)
Average Daily Volume = 2.4 million

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Flowserve - FLS - cls: 89.79 change: -3.25 stop: 88.45

We added FLS due to its relative strength in the face of some nasty market sell-offs last week. That relative strength seemed to evaporate today. The stock has painted a bearish reversal signal with today's bearish engulfing candlestick pattern. Shorts will try and pile on and push it lower. We are not suggesting new positions at this time and odds look good that we'll be stopped out tomorrow.

Picked on November 25 at $ 93.04
Change since picked: - 3.25
Earnings Date 02/28/08 (unconfirmed)
Average Daily Volume = 724 thousand

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Gilead Sciences - GILD - cls: 41.91 change: -1.41 stop: 41.74

After trading sideways for a week GILD has finally broken down under its 50-dma and the $42.00 level. This looks like a bearish entry point as GILD looks headed for the $40 region and its 200-dma. We are suggesting an early exit immediately. The only reason we do not close the play is that GILD could bounce from its early November lows. However, we would bet on being stopped out tomorrow morning.

Picked on November 13 at $ 43.11
Change since picked: - 1.20
Earnings Date 01/31/08 (unconfirmed)
Average Daily Volume = 7.6 million

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Synaptics Inc. - SYNA - close: 56.12 chg: 0.84 stop: 50.95

SYNA continued to show relative strength and broke out higher from its two-week trading range. Shares added 1.5% on decent volume in spite of the market weakness today. We were suggesting a trigger to buy calls at $56.55 so the play is now open. Our short-term target is the $61.50-62.00 range. The P&F chart is bullish with a $65 target.

Picked on November 26 at $ 56.55 *triggered
Change since picked: - 0.43
Earnings Date 01/24/08 (unconfirmed)
Average Daily Volume = 1.1 million

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ExxonMobil - XOM - close: 85.68 chg: -2.61 stop: 82.99

The bullish bounce in XOM is struggling. Oil stocks were hit with some heavy profit taking. The OIX oil index lost 2.7% and XOM lost 2.95%. There is growing speculation that Saudi Arabia will raise its production levels following the OPEC meeting next week and that pulled crude oil futures to a loss today. Keep a close eye on shares of XOM. The $85-84 zone and the rising 200-dma should be support. Wait for a bounce before considering new bullish positions. More conservative traders might want to adjust their stops toward $84.00. We are leaving our stop under the 200-dma. Our target is the $92.50-95.00 range. More conservative traders may want to lock in some gains near $90.00. More aggressive traders might want to narrow their exit range to the $94-95 zone.

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

Apollo Group - APOL - close: 70.02 change: -1.08 stop: 73.01

APOL broke down under support at $70.00 early this morning and hit our trigger to buy puts at $69.75. Unfortunately there was no follow through on the breakdown, which is a serious concern. If the markets continue lower tomorrow then odds are good that APOL will decline as well. We would wait for a new move under $69.75 or today's low at $69.61 before initiating new put positions. Our target is the $65.25-65.00 range. More aggressive traders may want to aim lower.

Picked on November 26 at $ 69.75 *triggered
Change since picked: 0.27
Earnings Date 02/07/08 (unconfirmed)
Average Daily Volume = 2.4 million

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Celgene - CELG - close: 60.34 change: -2.01 stop: 63.01

The BTK biotech index out performed the broader market indices but the sector still looks poised to move lower. Leading the way is CELG, which lost 3.2% today. What makes today's decline even more bearish is that the stock was actually upgraded this morning before the open. Shares of CELG have broken through technical support at the 200-dma but they have not fallen past the October low at $60.26 or round-number support at $60.00. We need to see a breakdown under support so we're suggesting a trigger to buy puts at $59.90. If triggered our target is the $55.25-55.00 zone. Please note that any time you play a biotech company there is a higher level of risk. You never know when there will be a positive or negative press release about some drug, some clinical trial or some news from the FDA or a rival that could send shares of a biotech stock gapping either direction.

Picked on November xx at $ xx.xx <-- see TRIGGER
Change since picked: 0.00
Earnings Date 01/31/08 (unconfirmed)
Average Daily Volume = 4.3 million

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Canadian Pacific - CP - cls: 60.43 change: -0.67 stop: 65.26

CP continues to slip. We suspect that the stock, looking more and more oversold, will bounce at the $60.00 level. A failed rally at or under the 10-dma could be used as a new entry point but you may want to tighten your stop loss. 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: - 2.42
Earnings Date 01/30/08 (unconfirmed)
Average Daily Volume = 553 thousand

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ESSEX Property - ESS - close: 99.28 change: -4.82 stop: 107.31

Shares of ESS can be volatile and the stock almost erased two days of gains with a 4.6% decline today. We would seriously consider lowering our stop to $105.51 after today's drop. The move under $102 and the $100 level looks like a new entry point for puts but more conservative traders may want to see a new relative low first (under $99.00). 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: - 2.47
Earnings Date 10/31/07 (confirmed)
Average Daily Volume = 272 thousand

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J.B.Hunt - JBHT - close: 24.11 change: -0.20 stop: 26.11

We do not see any changes from our previous comments. As expected the $25.00 level acted as short-term overhead resistance. Our target is the $22.50-22.00 range. The new P&F chart sell signal has seen the price target fall from $20 to $18.

Picked on November 20 at $ 24.95
Change since picked: - 0.84
Earnings Date 01/29/08 (unconfirmed)
Average Daily Volume = 1.8 million

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PACCAR - PCAR - close: 46.32 change: -1.87 stop: 50.26

The bounce in PCAR is rolling over. Today's move looks like a new entry point for bearish positions. However, some readers may want to wait for a little more confirmation so look for a drop under $46.00. 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: - 0.67
Earnings Date 01/30/08 (unconfirmed)
Average Daily Volume = 2.7 million

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Regency Centers - REG - cls: 62.61 chg: -5.00 stop: 67.51*new*

REG just got hammered today. The stock lost 7.39% and did so on big volume. Shares are only 11 cents from our target in the $62.50-62.00 range. We're not suggesting new positions at this time. Please note our new stop loss at $67.51. Odds are good that REG will hit our target tomorrow morning. Please note REG does have an investor "day" scheduled for Thursday, Nov. 29th.


Picked on November 18 at $ 67.56
Change since picked: - 4.95
Earnings Date 10/27/07 (unconfirmed)
Average Daily Volume = 570 thousand
 

Strangle Updates

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Dropped Calls

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Dropped Puts

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Dropped Strangles

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