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Call Updates

Constellation Energy - CEG - cls: 98.60 chg: +0.44 stop: 94.45

CEG is starting to bounce, as it should, since shares are near the bottom of its bullish trend higher. However, we remain wary due to the stock's recent relative weakness. You could launch new positions now but you might want to use a tighter stop loss near $96 or $96.50. We would suggest readers wait for a rally above $100 or 101 before initiating new 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: - 1.96
Earnings Date 01/31/08 (unconfirmed)
Average Daily Volume = 1.3 million

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Energizer - ENR - close: 112.39 chg: +2.46 stop: 107.85*new*

ENR is starting to look healthier again. The stock out performed the markets today with a 2.2% gain and broke through the 50-dma again. We would consider new bullish positions here although some readers may want to wait for a new relative high over $113. We are adjusting our stop loss to $107.85. Our target is the $119.00-120.00 range. The P&F chart points to a $157 target.

Picked on November 26 at $112.75 *triggered
Change since picked: - 0.36
Earnings Date 01/28/08 (unconfirmed)
Average Daily Volume = 511 thousand

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Flowserve - FLS - cls: 93.29 change: -0.12 stop: 88.45

We didn't get much movement out of FLS today. There was a late morning rally attempt but it ran out of steam under $94.50. We are still bullish on the stock and would still consider new positions here. However, more conservative traders may want to wait for a rally over $95.00 before initiating positions. Our target is the $99.50-100.00 range. The P&F chart has a $108 target.

Picked on November 25 at $ 93.04
Change since picked: + 0.25
Earnings Date 02/28/08 (unconfirmed)
Average Daily Volume = 724 thousand

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Gilead Sciences - GILD - cls: 45.76 change: -0.07 stop: 41.74

If you look at the daily chart on GILD the early morning spike higher and pull back almost looks like a short-term top. However, if you study the intraday chart GILD looks poised to climb higher again tomorrow. We remain bullish on GILD but we're not suggesting new positions at this time. More conservative traders may want to adjust their stops toward $42.50 or $43.50. The 50-dma and the $44 level should be short-term support. Our target is the $47.00-48.00 range. More aggressive traders may want to aim higher.

Picked on November 13 at $ 43.11
Change since picked: + 2.65
Earnings Date 01/31/08 (unconfirmed)
Average Daily Volume = 7.6 million

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Synaptics Inc. - SYNA - close: 59.04 chg: -1.31 stop: 52.95

All we needed was another 24 cents. SYNA hit an intraday high of $61.26 midday. Our target is the $61.50-62.00 range. Our concern now is that SYNA may have topped and shares could easily consolidate back toward the $56 region. We're not suggesting new positions and more conservative traders may want to exit early now.

Picked on November 26 at $ 56.55 *triggered
Change since picked: + 2.49
Earnings Date 01/24/08 (unconfirmed)
Average Daily Volume = 1.1 million

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ExxonMobil - XOM - close: 88.59 chg: +0.67 stop: 82.99

It was a volatile session for crude oil futures but oil stocks were generally higher. Shares of XOM managed to hit new two-week highs and breakout over the 100-dma. We remain bullish on XOM but shares are nearing potential resistance at $90.00 and its 50-dma. 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: + 1.84
Earnings Date 01/31/08 (unconfirmed)
Average Daily Volume = 24.2 million
 

Put Updates

ESSEX Property - ESS - cls: 101.49 chg: -0.08 stop: 105.55

ESS is still consolidating sideways near the $100 level but remains under short-term resistance at the 10-dma. Given the market's recent strength we would hesitate to open new positions. However, a new relative low would change my mind. 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: - 0.26
Earnings Date 10/31/07 (confirmed)
Average Daily Volume = 272 thousand

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Harley Davidson - HOG - cls: 47.01 change: -1.01 stop: 50.01

HOG pulls back after challenging resistance near $48.00 yesterday. Shares lost 2.1% today. We would still consider new bearish positions here but readers might feel more comfortable waiting for a breakdown under $46.00 again. Our target is the $41.00-40.00 range. The P&F chart is bearish with a $38 target.

Picked on November 27 at $ 46.48
Change since picked: + 0.53
Earnings Date 01/17/08 (unconfirmed)
Average Daily Volume = 2.1 million
 

Strangle Updates

None
 

Dropped Calls

Express Scripts - ESRX - close: 68.26 chg: +0.12 stop: 62.45

Target achieved. ESRX continued to rally and hit an intraday high of $69.62. We were targeting a move into the $69.50-70.00 range. The stock continues to look bullish but we'd wait for a dip back toward $66 before considering new positions again.

Picked on November 13 at $ 64.67
Change since picked: + 3.89
Earnings Date 02/07/08 (unconfirmed)
Average Daily Volume = 2.4 million
 

Dropped Puts

None
 

Dropped Strangles

None
 

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