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Call Updates

Aluminum Corp. of China - ACH - cls: 60.38 chg: +0.26 stop: 54.45

Shares of ACH spent Monday trading sideways as investors wait to hear the FOMC decision on rates tomorrow. Odds are good that the markets will see a sell the news move, which should pull ACH lower toward our suggested entry point. We're suggesting readers buy a dip in ACH in the $56.50-55.00 zone. This way traders could aim for the 10-dma or short-term support near $55.00. Our official entry will be $56.50 for now. If triggered our target is the $64.50-65.00 range but we might adjust that as the 50-dma ($66.20) continues to slide lower. FYI: The Point & Figure chart has a $75 target.

Picked on December xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 03/08/08 (unconfirmed)
Average Daily Volume = 1.8 million

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Constellation Energy - CEG - cls: 103.16 chg: -0.27 stop: 97.45

CEG is a prime example of what happened for a lot of the market today - absolutely nothing. The stock traded in a relatively narrow range as investors wait for the Fed meeting on Tuesday. If there is any profit taking the $100 level should be short-term support. A dip back toward the $100 zone could be used as a new bullish entry point. More conservative traders might be able to inch up their stop a bit. The Point & Figure chart has produced a triple-top breakout buy signal. Our target is the $107.50-110.00 range. FYI: CEG is due to present at an analyst conference on December 13th.

Picked on November 20 at $100.56
Change since picked: + 3.03
Earnings Date 01/31/08 (unconfirmed)
Average Daily Volume = 1.3 million

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Energizer - ENR - close: 115.03 chg: -1.77 stop: 109.95

ENR hit some profit taking today but traders bought the dip midday near $114 and its rising 10-dma. The stock was due for a little bit of a rest so we're not surprised. Our target is the $119.00-120.00 range. FYI: The P&F chart has a very bullish pattern called a bullish triangle breakout and it is forecasting a $157 target.

Picked on November 26 at $112.75 *triggered
Change since picked: + 2.28
Earnings Date 01/28/08 (unconfirmed)
Average Daily Volume = 511 thousand

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Excel Maritime - EXM - close: 54.37 change: +4.21 stop: 46.45

The water-transport/shipping stocks continued to rally on Monday. Shares of EXM added almost 8.4% and did so on improving volume. We remain bullish but we probably would not chase new positions at current levels. Stocks in this group can be volatile and we would consider this a higher-risk, more aggressive play. Our target is the $57.50-60.00 range but we might have to adjust it for the 50-dma (currently at $59.29). The Point & Figure chart is bullish with a $98 target. FYI: Another stock in this group that looks like a potential play is DRYS but it is even more volatile than EXM.

Picked on December 09 at $ 50.16
Change since picked: + 4.21
Earnings Date 03/13/08 (unconfirmed)
Average Daily Volume = 1.5 million

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Holly Corp. - HOC - close: 48.34 change: +0.13 stop: 44.95

There wasn't much change in HOC today. The stock, like many in the market, traded sideways in a narrow range as investors waited on tomorrow's FOMC meeting. We're not suggesting new positions. If the markets see any profit taking next week then HOC will likely fall back toward support near $45.00. At this point we'd rather buy a bounce near $45.00 or wait for a real breakout over $50.00. Readers might be more excited to just find another stock in the energy sector that has been showing more strength. Our target on HOC is the $54.75-55.00 range.

Picked on December 03 at $ 50.58 *bad tick/gap open
Change since picked: - 2.24
Earnings Date 02/12/08 (unconfirmed)
Average Daily Volume = 859 thousand

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Itron Inc. - ITRI - close: 82.56 change: -1.78 stop: 77.85

ITRI also ran into some profit taking. After a sharp two-day move higher the stock rallied to $85.00 (actually 84.98) and then pulled back. Any further profit taking should find support near broken resistance at $80.00. We're not suggesting new positions at this time but a bounce near $80 would be a new entry point. Our target is the $86.00-87.00 range near its 100-dma. Last week's rally has pushed the target on the P&F chart from $92 to $107.

Picked on December 06 at $ 80.26 *triggered
Change since picked: + 2.30
Earnings Date 02/13/08 (unconfirmed)
Average Daily Volume = 824 thousand

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JA Solar - JASO - close: 66.34 change: +2.76 stop: 56.25 *new*

Target achieved! Solar stocks continued to rise following a 28% rally in shares of LDK. Shares of JASO added another 4.3% on top of Friday's big gain. JASO has hit our conservative target in the $64.50-65.00 range. Our next, more aggressive target is the $69.00-70.00 zone. This remains an aggressive play. We are adjusting the stop loss to $56.25.

Picked on December 03 at $ 56.25 *triggered
Change since picked: +10.09
Earnings Date 03/31/08 (unconfirmed)
Average Daily Volume = 3.0 million

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Nat.Oilwell - NOV - close: 73.92 change: +0.40 stop: 66.90

We don't see any changes from our weekend comments. NOV continues to climb but shares look a little bit overbought and due for a dip. Readers could use a dip back into the $71.00-70.00 zone as a new bullish entry point. Broken resistance at the 50-dma and then again near $70.00 should be new support. 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: + 3.19
Earnings Date 02/06/08 (unconfirmed)
Average Daily Volume = 5.5 million

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Nucor - NUE - close: 61.72 change: -0.26 stop: 56.75

Traders bought the dip midday near $60.70 and the stock was on the rebound heading into the closing bell. The intraday low did look like another entry point. We're going to keep our stop loss under last week's low. Our target is the $64.90-65.00 range. The bullish breakout in just the last couple of days has produced a new P&F chart buy signal with a $73 target.

Picked on December 06 at $ 60.15 *triggered
Change since picked: + 1.57
Earnings Date 01/24/08 (unconfirmed)
Average Daily Volume = 4.6 million

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Research In Motion - RIMM - cls: 102.38 chg: -1.27 stop: 96.75

We do not see any changes from our weekend comments on RIMM. Right now we're suggesting a dip into the $100.00-97.00 zone. We'll try and limit our risk with a stop loss at $96.75, just under the rising 100-dma, which should be technical support. If triggered our target is the $109.50-110.00 range. More aggressive traders could aim for the 50-dma, currently near $113.40.

Picked on December xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 12/20/07 (confirmed)
Average Daily Volume = 32.2 million

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Union Pacific - UNP - close: 135.26 chg: +0.42 stop: 126.95

Railroad stock UNP continues to hold on to its gains. The stock traded sideways as the market waits for the Fed decision tomorrow. More conservative traders may want to take a little money off the table right here. After last week's gains it would be only natural to see a little profit taking. Our initial target is the $139.00-140.00 range. The P&F chart is bullish with a $138 target. Please note that we're adjusting the stop loss to $126.95. More conservative traders may want to put their stop closer to $129-130.

Picked on December 06 at $130.50 *triggered
Change since picked: + 4.76
Earnings Date 01/24/08 (unconfirmed)
Average Daily Volume = 2.3 million
 

Put Updates

Boeing - BA - close: 92.64 change: -0.52 stop: 95.01

BA continues to under perform the market but the stock looked like it was trying to bounce in the last few minutes of trading today. Just after the closing bell BA announced a 14% increase in its quarterly dividend and shares were trading closer to $93.00 in after hours markets. We're not suggesting new positions at this time. Wait until after the Fed meeting and then look for a new decline under $91.50. Our target is the $85.50-85.00 region just under the November lows. FYI: BA has an important conference call scheduled for Tuesday, December 11th at 10:00 a.m. Eastern to update investors on its 787 Dreamliner production schedule.

Picked on December 04 at $ 91.43 *triggered/gap down
Change since picked: + 1.21
Earnings Date 01/31/08 (unconfirmed)
Average Daily Volume = 7.0 million
 

Strangle Updates

None
 

Dropped Calls

ExxonMobil - XOM - close: 92.03 chg: +0.53 stop: 86.75

Target achieved. XOM finally hit our target in the $92.50-95.00 range. Shares continue to look strong and we've been suggesting that readers might want to hold on and aim for the $94.50-95.00 zone instead.

Picked on November 13 at $ 86.75
Change since picked: + 5.28
Earnings Date 01/31/08 (unconfirmed)
Average Daily Volume = 24.2 million
 

Dropped Puts

Celgene - CELG - close: 49.18 change: -8.18 stop: 61.75

Targets exceeded! Negative analysts comments about CELG's latest results for its Revlimid trials sent the stock crashing. The stock gapped open lower at $55.22 and then plunged to an intraday low of $47.21 before bouncing around $48-50 the remainder of the session. Our initial target was the $55.50-55.00 range and then we had a more aggressive target in the $51.00-50.00 range.

Picked on December 04 at $ 59.49 *triggered
Change since picked: -10.24
Earnings Date 01/31/08 (unconfirmed)
Average Daily Volume = 4.2 million
 

Dropped Strangles

None
 

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