CALL Play Updates

Apollo Group - APOL - close: 64.54 change: +0.13 stop: 62.85

APOL traded sideways in a relatively narrow range. I'm a little concerned that the stock didn't participate in the morning rally. Traders should be defensive here. More conservative traders may want to exit early. We will be exiting soon so I'm not suggesting new positions.

Our first target to take profits is $69.95. Our second target is $74.00. The Point & Figure chart is forecasting an $82 target. We do not want to hold over the June 29 earnings report. We will plan to exit on Friday, June 26th or Monday, June 29th.

Picked on     June 17 at $ 66.10 *triggered  
Change since picked:      - 1.56
Earnings Date           06/29/09 (unconfirmed)
Average Daily Volume =       3.4 million  
Listed on  June 08, 2009         


Becton Dickinson - BDX - close: 68.50 change: +0.25 stop: 67.75

BDX is still consolidating sideways near its 200-dma. We are waiting for a breakout higher. Our trigger to buy calls is at $70.51.

If triggered our first target to take profits is $74.90. Our second target is $79.00. Currently the Point & Figure chart is bullish and forecasts an $86 target. We don't want to hold over the late July earnings report. Note: I'll admit that our second target at $79 is a little aggressive considering our time frame. Be sure to take some money off the table at $74.90.

Picked on     June xx at $ xx.xx <-- see TRIGGER
Change since picked:      + 0.00
Earnings Date           07/23/09 (unconfirmed)
Average Daily Volume =       1.8 million  
Listed on  June 18, 2009         


Express Scripts - ESRX - close: 66.97 change: +2.23 stop: 63.75 *new*

ESRX displayed some relative strength with another rally off the $64.00 level and a 3.4% gain. I would still consider new positions here but I am raising our stop loss to $63.75. Our first target is $69.90. Our second target is $74.75. FYI: The P&F chart is bullish with a $77 target.

Picked on     June 22 at $ 65.25
Change since picked:      + 1.72
Earnings Date           07/29/09 (unconfirmed)
Average Daily Volume =       3.7 million  
Listed on  June 18, 2009         


Euro Currency ETF - FXE - close: 139.42 chg: -1.33 stop: 137.90

A morning pop in the U.S. dollar sent the FXE lower. Today's pull back is just a better entry point for readers to buy calls. Yesterday I suggested looking for a dip near $138.50 and the low today was $138.88. Our first target is $144.50. Our second target is $148.50. The P&F chart is bullish with a $168 target.

Picked on     June 23 at $140.76
Change since picked:      - 1.33
Earnings Date           00/00/00
Average Daily Volume =       461 thousand    
Listed on  June 23, 2009         


Murphy Oil - MUR - close: 52.83 change: +1.32 stop: 49.90

Oil stocks were generally flat even though the weekly oil inventory report came in bullish. There was a 3.8 million barrel decline in oil stockpiles. Shares of MUR gained 2.5% out performing most of its peers. MUR may have gotten a boost from its press release this morning that it discovery oil in a new location in the Gulf of Mexico. MUR shares this discovery with Anadarko (APC) and Samson Offshore.

More aggressive traders may want to use a stop under the rising 100-dma currently at $49.17 instead. Our first target is $54.50. Our second target is $58.00.

Picked on     June 23 at $ 51.51
Change since picked:      + 1.32
Earnings Date           07/29/09 (unconfirmed)
Average Daily Volume =       1.9 million  
Listed on  June 23, 2009         


Teva Pharma. - TEVA - close: 47.38 change: +0.95 stop: 45.40

TEVA also displayed some relative strength with a 2% gain following its dip toward $46.00 yesterday. Our exit target is $49.85. My time frame is very late July. If you are willing to hold past the earnings report more aggressive traders may want to aim higher. We will plan to exit before the earnings announcement.

Picked on     June 03 at $ 46.49
Change since picked:      + 0.89 
Earnings Date           07/29/09 (unconfirmed)
Average Daily Volume =       5.0 million  
Listed on  June 03, 2009         


PUT Play Updates

L-3 Comm. - LLL - close: 68.46 change: -1.53 stop: 74.25 *new*

Defense stocks were under performers on Wednesday and LLL under performed its peers with a 2.1% decline and a close under $70.00. This is good news for our put play. I am lowering our stop loss to $74.25. Our first target is $66.00. Our second target is $61.00.

Picked on     June 16 at $ 71.75
Change since picked:      - 3.29
Earnings Date           07/23/09 (unconfirmed)
Average Daily Volume =       976 thousand  
Listed on  June 16, 2009         


MDC Holdings - MDC - close: 29.92 change: +0.40 stop: 31.05

I am about ready to give up on MDC as a put play. The short-term technicals are turning higher. I was preparing to close it today but the action on Wednesday has produced another failed rally at the 100-dma. I remain very cautious here and more conservative traders will want to abandon ship anyway. I'm not suggesting new positions at this time. Our first target is $27.75. Our second target is $25.15.

Picked on      May 20 at $ 32.31 /gap down entry
                               /originally listed at $32.87
Change since picked:      - 2.39
Earnings Date           07/30/09 (unconfirmed)
Average Daily Volume =       1.1 million  
Listed on   May 20, 2009         


POSCO - PKX - close: 79.65 change: +1.15 stop: 84.05

Steel and metal stocks, especially foreign ones, were stronger today. Shares of PKX rallied to $81.05 before trimming its gains. This looks like a new entry point. I've been suggesting readers look for a failed rally near the $80-82 zone. Our target is the $71.00-70.00 range.

Picked on     June 22 at $ 78.35
Change since picked:      + 1.30
Earnings Date           07/09/09 (unconfirmed)
Average Daily Volume =       541 thousand 
Listed on  June 22, 2009         


Symantec - SYMC - close: 15.47 change: +0.34 stop: 16.10

SYMC produced an oversold bounce and came close to its exponential 200-dma before fading into the close. I am not suggesting new positions at this time. Our first exit target is $14.10.

Picked on     June 16 at $ 15.73
Change since picked:      - 0.26
Earnings Date           07/29/09 (unconfirmed)
Average Daily Volume =      16.8 million  
Listed on  June 16, 2009         


United Parcel Serv. - UPS - close: 47.64 change: +0.44 stop: 52.51

Aggressive traders may want to consider bearish positions now. The action today looks like a failed rally under its 10-dma and 100-dma near $48.50. I'm willing to wait for a better entry point in the $49.50-50.00 zone.

If triggered at $49.50 our first target to take profits is $45.50. We do not want to hold over the late July earnings report.

Picked on     June xx at $ xx.xx <-- see TRIGGER
Change since picked:      + 0.00
Earnings Date           07/23/09 (unconfirmed)
Average Daily Volume =       5.2 million  
Listed on  June 17, 2009         


Wynn Resorts - WYNN - close: 35.99 change: +2.00 stop: 37.65

WYNN soared on some short covering this morning. The stock rallied to $36.88 before stalling. Some of the casino names like WYNN have a lot of short interest so there can be volatile up days. Readers may want to look for WYNN to trade back under $34.00 before initiating positions. Our first target is $30.25. Our second target is $26.00.

Picked on     June 22 at $ 34.28
Change since picked:      + 1.71
Earnings Date           07/30/09 (unconfirmed)
Average Daily Volume =       3.4 million  
Listed on  June 22, 2009