CALL Play Updates

Alcon Inc. - ACL - close: 115.72 change: +1.66 stop: 109.90

ACL breaks out over resistance at $115.00 and hits our trigger to buy calls at $115.25. I would still buy calls right here at current levels. Our first target is $119.90. Our second target is $124.50.

Chart:

Picked on     June 25 at $115.25 *triggered    
Change since picked:      + 0.47
Earnings Date           07/23/09 (unconfirmed)
Average Daily Volume =       688 thousand 
Listed on  June 24, 2009         


Apollo Group - APOL - close: 67.32 change: +2.78 stop: 63.49 *new*

The plan is to exit APOL calls on Monday at the closing bell to avoid holding over the company's earnings report. That gives us two days left. I'm upping the stop loss to $63.49.

Our first target to take profits is $69.95. Our second target is $74.00.

Picked on     June 17 at $ 66.10 *triggered  
Change since picked:      + 1.22
Earnings Date           06/29/09 (confirmed)
Average Daily Volume =       3.4 million  
Listed on  June 08, 2009         


Becton Dickinson - BDX - close: 70.91 change: +2.41 stop: 67.75

BDX showed some relative strength with a 3.5% rally. Shares broke through resistance at its exponential 200-dma and through resistance at the $70.00 mark. BDX also hit our trigger to buy calls at $70.51. 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.

Chart:

Picked on     June 25 at $ 70.51 *triggered     
Change since picked:      + 0.40
Earnings Date           07/23/09 (unconfirmed)
Average Daily Volume =       1.8 million  
Listed on  June 18, 2009         


Quest Diagnostic - DGX - close: 55.89 chg: +1.61 stop: 51.95

DGX continues to bounce and shares have truly cleared the top of their trading range now. Volume has been improving on the recent rally, which is bullish. Our first target to take profits is $58.25. We'll set our second target at $59.90. More aggressive traders may want to aim higher. The Point & Figure chart has a new triple-top breakout buy signal with a $75 target. We do not want to hold over the late July earnings report.

Picked on     June 24 at $ 54.28
Change since picked:      + 0.00
Earnings Date           07/22/09 (unconfirmed)
Average Daily Volume =       1.1 million  
Listed on  June 24, 2009         


Express Scripts - ESRX - close: 68.60 change: +1.63 stop: 63.75

ESRX hit a high of $69.33 intraday. The $70.00 level is resistance so readers can start planning an exit. Our first target is $69.90. Our second target is $74.75.

Picked on     June 22 at $ 65.25
Change since picked:      + 3.35
Earnings Date           07/29/09 (unconfirmed)
Average Daily Volume =       3.7 million  
Listed on  June 18, 2009         


Euro Currency ETF - FXE - close: 139.91 chg: +0.48 stop: 137.90

The U.S. dollar was trying to bounce this morning but it eventually rolled over. This allowed the FXE to rebound higher into the afternoon. I would consider new positions right here. 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:      - 0.85
Earnings Date           00/00/00
Average Daily Volume =       461 thousand    
Listed on  June 23, 2009         


Murphy Oil - MUR - close: 54.37 change: +1.54 stop: 49.90

Oil and oil service stocks performed well on Thursday. MUR gained 2.9% and managed to close above its 50-dma and exponential 200-dma. The high was $54.46, which was almost enough to hit our target. Our first target is $54.50. Our second target is $58.00.

Picked on     June 23 at $ 51.51
Change since picked:      + 2.86
Earnings Date           07/29/09 (unconfirmed)
Average Daily Volume =       1.9 million  
Listed on  June 23, 2009         


Teva Pharma. - TEVA - close: 48.07 change: +0.69 stop: 45.40

TEVA continues to bounce right on schedule. 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:      + 1.58 
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: 69.52 change: +1.06 stop: 74.25

The market produced a very widespread rally. The defense stocks were not immune and LLL gained 1.5%. I am not suggesting new positions at this time. Our first target is $66.00. Our second target is $61.00.

Picked on     June 16 at $ 71.75
Change since picked:      - 2.23
Earnings Date           07/23/09 (unconfirmed)
Average Daily Volume =       976 thousand  
Listed on  June 16, 2009         


MDC Holdings - MDC - close: 30.87 change: +0.95 stop: 31.05

Homebuilder Lennar Corp. (LEN) reported earnings today. The results were a miss but LEN did report that orders were up 63%. That fueled a rally in the builders and MDC gained 3.1%. I've been very cautious on MDC the last few days suggesting readers exit early. That is still a good idea now although with our stop loss this close I'm going to wait for MDC to actually break resistance at $31.00 instead of exiting early. 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:      - 1.44
Earnings Date           07/30/09 (unconfirmed)
Average Daily Volume =       1.1 million  
Listed on   May 20, 2009         


POSCO - PKX - close: 82.34 change: +2.69 stop: 84.05

Building material and commodity-related stocks are bouncing sharply. I expected a bounce back to $80.00 maybe $82.00. Today's close over $82.00 is worrisome. The stock probably got an extra boost today because the country of S. Korea has adjusted their 2009 economic forecast for only -1.5% GDP growth in stead of -2.0%.

If PKX continues to rally from here it will make the June 22nd breakdown look like a bear trap pattern. Considering the market's tone today I would wait for a new drop under $80.00 before considering new bearish positions in PKX. More conservative traders may want to lower their stops! Our target is the $71.00-70.00 range.

Picked on     June 22 at $ 78.35
Change since picked:      + 3.99
Earnings Date           07/09/09 (unconfirmed)
Average Daily Volume =       541 thousand 
Listed on  June 22, 2009         


Symantec - SYMC - close: 15.84 change: +0.37 stop: 16.10

Tech stocks are out performing and leading the market higher. This is lifting SYMC and the stock is poised to break its short-term down trend. SYMC has now broken short-term resistance in the $15.50 region. Shares should have overhead resistance at tie 50-dma (near $16.00). 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:      + 0.11
Earnings Date           07/29/09 (unconfirmed)
Average Daily Volume =      16.8 million  
Listed on  June 16, 2009         


United Parcel Serv. - UPS - close: 49.37 change: +1.73 stop: 52.51

The transportation sector produced BIG rally today but there is still plenty of overhead resistance. UPS is very close to hitting our trigger to buy puts at $49.50. Traders can look to open positions anywhere in the $49.50-52.00 zone. I am lowering the stop loss to $52.05.

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: 37.16 change: +1.17 stop: 37.65

The gambling and casino stocks are seeing a pretty good oversold bounce. WYNN gained 3.2%. The stock is poised to test resistance directly overhead. I'm not suggesting new positions at this time. Our first target is $30.25. Our second target is $26.00.

Picked on     June 22 at $ 34.28
Change since picked:      + 2.88
Earnings Date           07/30/09 (unconfirmed)
Average Daily Volume =       3.4 million  
Listed on  June 22, 2009