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Call Updates

Constellation Energy - CEG - cls: 99.92 chg: +0.01 stop: 95.95

Shares of CEG closed almost unchanged on the session and we do not see any changes from our previous comments. Readers can choose to try and buy a dip near $98 or a breakout over $101.50. Our target is the $107.50-110.00 range.

Picked on November 20 at $100.56
Change since picked: - 0.64
Earnings Date 01/31/08 (unconfirmed)
Average Daily Volume = 1.3 million

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Energizer - ENR - close: 114.61 chg: +0.12 stop: 107.85

ENR rebounded from some early morning weakness and spent the day trading sideways in a $1.00 range. We remain bullish. Readers can choose to buy a dip near $112.00 (near the 50-dma) or a breakout over $115. 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: + 1.86
Earnings Date 01/28/08 (unconfirmed)
Average Daily Volume = 511 thousand

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Fording Candn. Coal - FDG - cls: 34.24 chg: -0.12 stop: 29.95

It was another quiet day for FDG. The stock continued to trade sideways with another failed rally near $35 and its 100-dma. 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. FYI: After the closing bell tonight FDG announced a fourth quarter cash dividend of CDN$0.53 per "unit" to be paid on January 15, 2008 to unitholders of record on December 31st, 2008.

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: 92.21 change: -0.80 stop: 88.45

The action in FLS is starting to look a little bearish but that's what we should expect with the market down two days in a row. A bounce near current levels near $92.00 or a dip and bounce near $90.00 could be used as a new bullish entry point. 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: - 0.83
Earnings Date 02/28/08 (unconfirmed)
Average Daily Volume = 724 thousand

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Gilead Sciences - GILD - cls: 45.21 change: -0.73 stop: 43.85

GILD experienced another day of profit taking. Shares plunged at the open and then bounced along the $45.00 level all day. Contributing to the stock's weakness was news out today that Matrix Labs, a majority owned company by Mylan Inc., gained tentative FDA approval to make a generic version of GILD's AIDS drug Viread (source: Reuters). We have been warning readers to expect a dip toward $45.00 or $44.00. We're not suggesting new positions at this time. 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: + 2.10
Earnings Date 01/31/08 (unconfirmed)
Average Daily Volume = 7.6 million

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Holly Corp. - HOC - close: 47.00 change: -1.48 stop: 44.95

Another decline in crude oil weighed on the energy stocks. HOC lost 3% on strong volume. The big volume is a bearish signal. We were previously suggesting that readers consider buying calls on a dip into the $47.00-46.00 range. Given today's action we would not be surprised to see HOC dip near $45.00. A convincing bounce in the $45-46 zone could be used as a new bullish entry point. 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: - 3.58
Earnings Date 02/12/08 (unconfirmed)
Average Daily Volume = 859 thousand

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Itron Inc. - ITRI - close: 77.74 change: -0.82 stop: 73.35

ITRI continues to trade sideways with another failed rally under the $79.50 level. We do not see any changes from our weekend comments. 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: 55.89 change: +0.44 stop: 52.49

It was a mixed bag for the solar stocks today but several stocks in the group were making some very big gains. JASO under performed most of its peers but managed to hold above the $54.50 level. Look for a more convincing bounce, maybe over $57.50 or $58.00 before launching new 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: - 0.36
Earnings Date 03/31/08 (unconfirmed)
Average Daily Volume = 3.0 million

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Nat.Oilwell - NOV - close: 71.06 change: +0.33 stop: 64.90

NOV continues to show strength. The stock bucked the trend in the oil sector today. We remain bullish and don't see any changes from our previous comments. We are suggesting new call positions now with NOV over $70.00 but this probably qualifies as an aggressive play. Not only does NOV have potential resistance at its 50-dma near $71.80 but we're suggesting bullish positions in a market that looks poised for more profit taking. We're listing a stop loss at $64.90 but more conservative traders might want to put their stop loss near $67.00 instead. An alternative entry point would be to wait for a rally over the 50-dma but if you wait we would use a higher stop loss. Our target is the $79.00-80.00 range. The Point & Figure chart is bullish with an $84 target.

Picked on December 03 at $ 70.73
Change since picked: + 0.33
Earnings Date 02/06/08 (unconfirmed)
Average Daily Volume = 5.5 million

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Synaptics Inc. - SYNA - close: 54.19 chg: -1.62 stop: 52.95

The situation is growing more grim with SYNA. The stock lost another 2.9% and looks poised to test technical support at the 50-dma. Our problem is that the 50-dma is near $52.70. Our stop is at $52.95. More aggressive traders will want to consider adjusting their stop under the 50-dma (maybe 52.49). More conservative traders might want to exit early right now. 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: - 2.36
Earnings Date 01/24/08 (unconfirmed)
Average Daily Volume = 1.1 million

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ExxonMobil - XOM - close: 88.12 chg: -0.73 stop: 83.95

The bullish turnaround in XOM is running into trouble. Shares lost 0.8% and they're currently testing the 10-dma. We suspect that further profit taking will carry XOM toward the $87 level. Look for a bounce near $87 as a potential entry point. 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: + 1.37
Earnings Date 01/31/08 (unconfirmed)
Average Daily Volume = 24.2 million
 

Put Updates

Boeing - BA - close: 89.99 change: -1.80 stop: 95.01

Shares of BA continued to sell-off on Tuesday and closed with a 1.96% loss. The stock broke down under technical support at the 10-dma but managed to hold on to the $90.00 level. Our suggested entry point for puts was $91.50 but BA opened at $91.43. We've adjusted our entry point accordingly. Our target is the $85.50-85.00 region just under the November lows. Do not be surprised to see a short-term oversold bounce from the $90.00 level. A failed rally in the $92-93 zone could be used as a new entry point.

Picked on December 04 at $ 91.43 *triggered/gap down
Change since picked: - 1.44
Earnings Date 01/31/08 (unconfirmed)
Average Daily Volume = 7.0 million

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Celgene - CELG - close: 58.89 change: -1.39 stop: 64.05

CELG continued to sell-off and shares broke down under support near $60.00. The stock hit our trigger to buy puts at $59.49. Now that the play is open our first target is the $55.50-55.00 range. Our second target is the $51.00-50.00 region. More conservative traders will want to consider a tighter stop loss.

Picked on December 04 at $ 59.49 *triggered
Change since picked: - 0.60
Earnings Date 01/31/08 (unconfirmed)
Average Daily Volume = 4.2 million

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ESSEX Property - ESS - cls: 98.91 chg: -2.76 stop: 105.55

ESS gapped open lower this morning at $100.14 and then continued to sink. Shares lost 2.7% albeit on below average volume. 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: - 2.84
Earnings Date 10/31/07 (confirmed)
Average Daily Volume = 272 thousand

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Harley Davidson - HOG - cls: 47.18 change: +0.31 stop: 50.01

HOG managed to rally midday but the stock was paring its gains by the closing bell. We remain bearish on the stock under $48.00. 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: + 0.70
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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