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Call Updates

Constellation Energy - CEG - cls: 99.91 chg: -0.30 stop: 95.95

CEG made the new 52-week high list with this morning's rally to $101.48. Unfortunately the rally quickly melted away and shares spent the session churning sideways between $99 and $100. The trend is still bullish but if you're looking for a new entry point we would suggest waiting for another dip near $98.00 or a new relative high over $101.50. Our target is the $107.50-110.00 range.

Picked on November 20 at $100.56
Change since picked: - 0.65
Earnings Date 01/31/08 (unconfirmed)
Average Daily Volume = 1.3 million

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Energizer - ENR - close: 114.49 chg: +0.86 stop: 107.85

Bulls quickly bought the dip near $112 and its rising 10-dma this morning. ENR out performed the market with a 0.75% gain and the stock looks poised for more gains. The P&F chart target is now $157. Our target is the $119.00-120.00 range

Picked on November 26 at $112.75 *triggered
Change since picked: + 1.74
Earnings Date 01/28/08 (unconfirmed)
Average Daily Volume = 511 thousand

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Fording Candn. Coal - FDG - cls: 34.36 chg: +0.27 stop: 29.95

There is no change from our weekend comments on FDG. We're waiting on a dip back to the $32.50-32.00 range. More aggressive traders might want to jump in now or near $33.00. Our suggested stop loss is at $29.95 but more conservative types could try and get away with a stop closer to $32.00. If triggered our target is the $37.00-37.50 zone. The P&F chart is still bullish in spite of the big sell-off, which was sparked by FDG's latest earnings report.

Picked on November xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 02/12/08 (unconfirmed)
Average Daily Volume = 770 thousand

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Flowserve - FLS - cls: 93.01 change: -1.08 stop: 88.45

FLS followed the major indices lower today. We would expect a dip back toward the $92.00 region and possibly the $90 level. Wait for signs of a bounce before considering new bullish positions. We have our stop loss under the late November low but more conservative traders may want to consider a stop loss closer to $90.00. Our target is the $99.50-100.00 range.

Picked on November 25 at $ 93.04
Change since picked: - 0.03
Earnings Date 02/28/08 (unconfirmed)
Average Daily Volume = 724 thousand

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Gilead Sciences - GILD - cls: 45.94 change: -0.60 stop: 43.85

There is nothing out of the ordinary here. GILD ran into some profit taking after last week's surge. We are not suggesting new bullish positions. More conservative traders may want to close their positions early right now. A dip back toward $45.00 or $44.00 would not be a surprise. We're still aiming for the $47.00-48.00 range. More aggressive traders may want to aim higher.

Picked on November 13 at $ 43.11
Change since picked: + 2.83
Earnings Date 01/31/08 (unconfirmed)
Average Daily Volume = 7.6 million

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Holly Corp. - HOC - close: 48.48 change: +0.03 stop: 44.95

HOC continued to trade sideways but shares maintained the short-term bullish trend of higher lows, which is a good sign. The intraday high at $50.58 is a bad tick. If you look at the intraday chart HOC never traded over $49.00. Unfortunately, since bad ticks are a real life hazard we are going to "open" this play at $50.58 (the opening trade). Our alternative entry point was a breakout over $50.00 at $50.05. We strongly suggest readers wait for a true breakout over $50.00 or our original plan for a dip into the $47.00-46.00 range. Our initial target is the $54.75-55.00 range. FYI: The P&F chart is still very bearish following the November sell-off.

Picked on December 03 at $ 50.58 *bad tick/gap open
Change since picked: + 0.00
Earnings Date 02/12/08 (unconfirmed)
Average Daily Volume = 859 thousand

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Itron Inc. - ITRI - close: 78.56 change: +1.01 stop: 73.35

We do not see any changes from our weekend comments. ITRI continued to trade sideways between $77.00 and $79.00. The intraday low at $76.30 was a bad tick. You can check an intraday chart. We're suggesting a trigger to buy calls on ITRI in the $76.00-74.00 zone (our "official" entry will be $76.00). If ITRI does not pull back our alternative entry point will be the $80.26 mark. If triggered our target is the $86.00-87.00 range near its 100-dma. The P&F chart is more encouraging with a $92 target.

Picked on November xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 02/13/08 (unconfirmed)
Average Daily Volume = 824 thousand

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JA Solar - JASO - close: 55.45 change: -3.89 stop: 52.49

After a huge move last week shares of JASO hit some heavy profit taking today. The stock lost 6.5% and closed at its lows for the session. We were suggesting an entry point in the $57-55 zone with an "official" entry point at $56.25. The play is now open. However, if you have not opened positions yet we would wait. JASO looks poised to hit $55.00 and potentially $54.00 soon. Furthermore we would wait for signs of a bounce first before initiating positions. Our target is the $69.00-70.00 range. The P&F chart is very bullish with an $88 target.

Picked on December 03 at $ 56.25 *triggered
Change since picked: - 0.80
Earnings Date 03/31/08 (unconfirmed)
Average Daily Volume = 3.0 million

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Synaptics Inc. - SYNA - close: 55.81 chg: +0.27 stop: 52.95

SYNA produced a minor oversold bounce on Monday in spite of the market's decline. We do not see any changes from our weekend comments. This is now starting to look like a potential bearish double-top pattern with the peak in earl November and now last week. SYNA should find some support in the $53-55 region but wait for signs of a bounce if you're looking for a new bullish entry. We are not suggesting new plays at this time. Our target is the $61.50-62.00 range.

Picked on November 26 at $ 56.55 *triggered
Change since picked: - 0.74
Earnings Date 01/24/08 (unconfirmed)
Average Daily Volume = 1.1 million

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ExxonMobil - XOM - close: 88.85 chg: -0.31 stop: 83.95

Monday provided a quiet session for XOM with the oil giant's stock trading sideways. We do not see any changes from our weekend comments. More conservative traders might want to do a little profit taking near $90.00. On the other hand a rally over $90.00 or its 50-dma could be used as a new bullish entry point. However, if you're launching new positions now we'd suggest a might tighter stop loss, maybe near $87.50 (and we'd aim for the $94.50-95.00 zone). Our target is the $92.50-95.00 range. 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: + 2.10
Earnings Date 01/31/08 (unconfirmed)
Average Daily Volume = 24.2 million
 

Put Updates

Boeing - BA - close: 91.79 change: -0.75 stop: 95.01

BA continued lower following Friday's bearish reversal. However, today's decline was not strong enough. The intraday low was $91.66. We are suggesting a trigger to buy puts at $91.50. If triggered our target is the $85.50-85.00 zone, just under the November lows. FYI: The P&F chart points to a $75 target although it's also suggesting a potential bullish reversal in progress.

Picked on November xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 01/31/08 (unconfirmed)
Average Daily Volume = 7.0 million

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ESSEX Property - ESS - cls: 101.67 chg: -2.07 stop: 105.55

All of the action in ESS occurred in the first half hour. The stock dropped under the $102 level and then churned sideways in a relatively narrow range. The stock began plunging again into the closing bell. We remain bearish but we're not suggesting new positions. Our target is support in the $94.00-93.00 range. The P&F chart is much more bearish with a $78 target (in spite of the recent bounce).

Picked on November 20 at $101.75
Change since picked: - 0.08
Earnings Date 10/31/07 (confirmed)
Average Daily Volume = 272 thousand

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Harley Davidson - HOG - cls: 46.87 change: -1.15 stop: 50.01

HOG has produced another bearish reversal with a failed rally near its 50-dma and another bearish engulfing candlestick pattern. The drop under $47.00 looks like a new entry point for puts but more conservative traders may want to wait for a decline under $46.50 first. 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: + 0.39
Earnings Date 01/17/08 (unconfirmed)
Average Daily Volume = 2.1 million
 

Strangle Updates

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Dropped Calls

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Dropped Puts

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Dropped Strangles

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