We have several candidates that are about to report earnings in the next few days. We do not want to hold over the earnings report.


CALL Play Updates

Apollo Group - APOL - close: 75.52 change: +1.61 stop: 71.90

APOL dipped toward its 20-dma again this morning and managed a strong rebound. Shares ended up out performing the market with a 2.1% gain. This looks like a new bullish entry point. More conservative traders could up their stops toward today's low near $72.50.

Our first target is $79.90. This should be a short-term play as we plan to exit ahead of the October 27th earnings report. FYI: The Point & Figure chart is bullish with a $95 target.

Picked on   October 14 at $ 75.25
Change since picked:       + 0.27
Earnings Date            10/27/09 (unconfirmed)
Average Daily Volume =        2.6 million  
Listed on   October 13, 2009         


AvalonBay - AVB - close: 72.25 change: -2.03 stop: 69.95

AVB has been bouncing around this $3.00 range for days. It's back to testing support near $72.00 again. A breakdown from here would be bearish but AVB should have additional support near $70.00. I'd use a bounce from here as a new entry point.

Our first target is $77.75. More aggressive traders could aim higher but we don't want to hold over the early November earnings report.

Picked on   October 08 at $ 72.60
Change since picked:       - 0.35
Earnings Date            11/04/09 (unconfirmed)
Average Daily Volume =        1.8 million  
Listed on   October 07, 2009         


Core Labs - CLB - close: 109.15 change: +0.11 stop: 106.49 *new*

CLB recovered from its intraday lows near $106.60 and closed in positive territory. Tomorrow is our last day for this play. I'm inching our stop loss to $106.49. The plan is to exit at the close on Wednesday to avoid holding over earnings. I am adjusting our second target down to $113.00.

Entered on  October 08 at $105.25
Change since picked:       + 3.90
                             /1st target hit @ 109.90 (+4.4%)
Earnings Date            10/21/09 (confirmed)
Average Daily Volume =        175 thousand 
Listed on September 23, 2009         


Consol Energy - CNX - close: 50.76 change: -0.32 stop: 48.49 *new*

CNX is still trading sideways near $50.00. I am not suggesting new positions at this time. Our second target is $54.00.

More conservative traders may want to exit completely right now. Tomorrow is our last day. We plan to exit on Wednesday at the closing bell to avoid holding over earnings. Given our remaining time I'm raising the stop loss to $48.49.

Picked on September 25 at $ 43.77 /gap down entry
Change since picked:       + 6.99
                                /1st target hit @ 48.50 (+10.8%)
Earnings Date            10/22/09 (confirmed)
Average Daily Volume =        3.0 million  
Listed on September 19, 2009         


Dril-Quip, Inc. - DRQ - close: 54.33 change: -0.79 stop: 49.45

DRQ remains overbought and looks vulnerable to profit taking but as long as oil remains strong the trend is up. I'm not suggesting new positions at this time.

DRQ has already hit our first target at $53.00. Our second target is $57.00.

Picked on September 28 at $ 48.50
Change since picked:       + 5.83
                              /1st target hit @ 53.00 (+9.2%)
Earnings Date            11/10/09 (unconfirmed)
Average Daily Volume =        282 thousand 
Listed on September 26, 2009         


EOG Resources - EOG - close: 94.41 change: +0.06 stop: 87.40

Target achieved. EOG is still showing strength and hit an intraday high of $95.00. Our second target to take profits was at $94.75. I'm not suggesting new positions at this time.

EOG has exceeded both our first and second targets. Our third and final target is $99.00. I'm lowering it from $99.50. We do not want to hold over the early November earnings report.

Chart:

Picked on   October 07 at $ 85.24 /gap higher entry
                               /originally listed at $84.71
Change since picked:       + 9.17
                              /1st target hit @ 89.90 (+5.4%)
                             /2nd target hit @ 94.75 (+11.1%)
Earnings Date            11/03/09 (unconfirmed)
Average Daily Volume =        2.9 million  
Listed on   October 07, 2009         


Express Scripts - ESRX - close: 81.32 change: -0.96 stop: 78.75 *new*

ESRX dipped toward $80 again and bulls bought the dip again. While the trend is up I am growing concerned about the bearish divergence between price and some of ESRX's technical indicators. I am raising our stop loss to $78.75. More conservative traders may want to exit completely or raise your stop toward $80.00. We plan to exit ahead of the October 28th earnings report.

Picked on   October 06 at $ 77.42 /gap down entry
                              /originally listed at $78.04
Change since picked:       + 3.90
                             /1st target hit @ 82.50 (+6.6%)
Earnings Date            10/28/09 (confirmed)
Average Daily Volume =        2.1 million  
Listed on   October 06, 2009         


Flowserve - FLS - close: 106.00 change: -0.78 stop: 101.90

FLS only lost 0.7% and managed a bounce from the $105 level intraday. If the $105 level breaks look for short-term support near $102.50. Our first target is $109.75.

We will plan to exit ahead of the late October earnings report.

Picked on   October 12 at $102.60
Change since picked:       + 3.40
Earnings Date            10/28/09 (unconfirmed)
Average Daily Volume =        1.2 million  
Listed on September 19, 2009         


Gold ETF - GLD - close: 103.42 change: -0.81 stop: 97.40

The dollar produced a bounce from 14-month lows and the commodities reversed lower on the move. It wasn't a big rebound but the dollar is oversold and gold looks a little overbought. These trends could see a short-term reversal.

If you're looking for new positions consider waiting for a dip near $100, which should offer support. Our plan calls for small positions to limit risk.

Our first target is $109.90. We are still contemplating a second, longer-term target.

Picked on   October 06 at $102.28
Change since picked:       + 1.14
Earnings Date            00/00/00
Average Daily Volume =       14.2 million  
Listed on   October 06, 2009         


Intercontinental Exchange - ICE - close: 105.95 chg: -0.08 stop: 94.90

There is no change from my prior comments. We're waiting for a pull back toward what should be support near $100.

Use a trigger at $101.00 to buy calls. We'll use a stop at $94.90. Our first target is $109.75. Our second target is $114.75. More aggressive traders could aim higher but we want to exit ahead of the November 3rd earnings report.

Picked on   October xx at $ xx.xx <-- TRIGGER @ $101.00
Change since picked:       + 0.00
Earnings Date            11/03/09 (confirmed)
Average Daily Volume =        1.3 million  
Listed on   October 17, 2009         


Mobile Telesys - MBT - close: 51.56 change: -2.98 stop: 49.75

Ouch! MBT reaffirmed its 2009 earnings outlook today. It seems that investors took that as an excuse to lock in some gains. The stock fell 5.4%. I would expect a dip toward $50.00.

Our second target is $59.00. We do not want to hold positions over the early November earnings report.

Picked on   October 12 at $ 50.15
Change since picked:       + 1.41
                            /1st target hit @ 54.50 (+8.6%)
Earnings Date            11/05/09 (unconfirmed)
Average Daily Volume =        1.5 million  
Listed on   October 10, 2009         


Martin Marietta - MLM - close: 95.70 change: +0.08 stop: 91.19

MLM provided another entry point today. Shares dipped toward $94.00 and bounced twice at this level. Readers can use this move as a new entry point. More cautious traders might want to inch up their stop losses. Our first target to take profits is at $99.90. More aggressive traders could aim for the September highs.

Picked on   October 19 at $ 95.15
Change since picked:       + 0.55
Earnings Date            11/06/09 (unconfirmed)
Average Daily Volume =        418 thousand 
Listed on   October 15, 2009         


Transocean Ltd. - RIG - close: 91.33 change: -1.37 stop: 86.85

RIG ran into some profit taking but traders bought the dip near $90.00. The late day bounce looks like another entry point but more conservative traders might want to raise their stop loss. Our target is $99.50.

Picked on   October 15 at $ 90.94 /gap down entry
                             /originally listed at $91.48
Change since picked:       + 0.39
Earnings Date            11/04/09 (confirmed)
Average Daily Volume =        4.1 million  
Listed on   October 15, 2009         


Waters Corp. - WAT - close: 58.48 change: -0.34 stop: 54.90

It was a quiet day for WAT. I don't see any changes from my prior comments. Our target to exit is $59.50. More aggressive traders may want to aim higher!

I'm not suggesting new positions at this time. The plan was to use small position sizes (1/2 to 1/4 our normal size) to minimize risk. We do not want to hold over the October 27th earnings report.

Picked on September 28 at $ 55.43 *new entry
Change since picked:       + 3.05
Earnings Date            10/27/09 (confirmed)
Average Daily Volume =        809 thousand 
Listed on September 12, 2009         


Whirlpool Corp. - WHR - close: 73.00 change: -0.76 stop: 68.45

WHR is still flirting with resistance near $74.00. We're down to our last two days. Readers may want to exit now! The plan is to exit on Thursday at the closing bell (Oct. 22nd). More conservative traders may want to take profits now.

Our second target remains at $78.50.

Picked on   October 10 at $ 70.50
Change since picked:       + 2.50
                               /1st target hit @ 73.90 (+4.8%)
Earnings Date            10/23/09 (confirmed)
Average Daily Volume =        1.5 million  
Listed on   October 10, 2009         


PUT Play Updates

BIOGEN IDEC - BIIB - close: 48.06 change: -1.33 stop: 50.65 *new*

I was expecting a bigger move on earnings. BIIB reported this morning with results beating Wall Street's estimates by eight cents. The company delivered a third quarter profit of $1.12 per share. Investors sold the news anyway and the stock spiked down to $47.33. I am lowering our stop loss to $50.65.

Our first target to take profits is at $44.50. Our second target is $40.50. FYI: The P&F chart is bearish with a $36 target.

Picked on   October 03 at $ 48.89
Change since picked:       - 0.83
Earnings Date            10/20/09 (confirmed)
Average Daily Volume =        2.6 million  
Listed on   October 03, 2009         


Netease.com - NTES - close: 38.90 change: -0.46 stop: 41.65

NTES continues to sink and remains under resistance near $40.00. What is interesting is how volume is quickly evaporating. I suspect the stock is coiling for another breakout one way or the other. I would still consider new positions here.

Our first target is $35.25. Our second target is $33.00, just above the simple 200-dma. We want to exit ahead of the mid November earnings report. FYI: The P&F chart is bearish with a $25 target.

Picked on   October 17 at $ 38.47
Change since picked:       + 0.43
Earnings Date            11/12/09 (unconfirmed)
Average Daily Volume =        2.7 million  
Listed on   October 17, 2009         


CLOSED BULLISH PLAYS

Amazon.com - AMZN - close: 94.98 change: +0.30 stop: 92.75

AMZN has been stuck churning sideways near $95.00. Investors could be waiting for the company's earnings report before placing any new bets. Last night I said we would exit early on Tuesday at the closing bell to avoid holding over the earnings report on Thursday.

Chart:

Picked on   October 08 at $ 95.05
Change since picked:       - 0.37
Earnings Date            10/22/09 (confirmed)
Average Daily Volume =        6.2 million  
Listed on   October 07, 2009         


CLOSED BEARISH PLAYS

FUQI Intl. - FUQI - close: 27.82 change: +0.44 stop: 28.75

We knew that shares of FUQI were volatile. That's why I suggested small positions. The stock spiked to $28.92 this morning and quickly reversed lower. Unfortunately that was enough to stop us out at $28.75.

Chart:

Picked on   October 17 at $ 26.05 /gap higher entry
                          /originally listed at $25.30
Change since picked:       + 2.70 <-- stopped @ 28.75 (+10.3%)
Earnings Date            11/12/09 (unconfirmed)
Average Daily Volume =        1.3 million  
Listed on   October 17, 2009