CALL Play Updates

*Currently we do not have any call play updates*


PUT Play Updates

FEDEX Corp. - FDX - close: 80.69 change: +0.40 stop: 82.55

FDX continued to sink and hit $79.15 intraday. Our trigger to buy puts at $79.45 was hit and we now have a stop loss at $82.55. There is still a chance that FDX bounces again tomorrow. I would wait for either a failed rally closer to $82.00 or a new decline back under $79.75 to open new put positions.

Our first target is $75.25.

Chart:

Entry  on   January 25 at $ 79.45 
Change since picked:       + 1.24
Earnings Date            03/18/10 (unconfirmed)
Average Daily Volume =        3.0 million  
Listed on   January 23, 2010         


Gymboree - GYMB - close: 39.77 change: +0.03 stop: 42.75

There was almost zero bounce in shares of GYMB. That does not bode well for the bulls and suggest the path of least resistance is definitely lower. I would open positions now although you could hold out for a failed rally closer to $42.00. That's where I would expect to see resistance on a bounce. Our first target is $35.50. Our second, longer-term target is $32.00. We are going to use a slightly wider, more aggressive stop loss in case GYMB sees an oversold bounce. Consider using small positions to limit your risk. Over the weekend I suggested the February $40 puts (GQU-NH).

Entry  on   January 23 at $ 39.74 
Change since picked:       + 0.03
Earnings Date            03/04/10 (unconfirmed)
Average Daily Volume =        513 thousand 
Listed on   January 23, 2010         


Mettler Toledo Intl. - MTD - close: 99.09 change: +0.31 stop: 102.25

There was very little bounce in MTD, which is bullish. I would still consider new positions here in the $99-100 zone. Our first target is $95.25. Our second target is $90.50. Our time frame is a couple of weeks. We do not want to hold over the early February earnings report.

Entry  on   January 22 at $ 99.40
Change since picked:       - 0.31
Earnings Date            02/04/10 (unconfirmed)
Average Daily Volume =        134 thousand 
Listed on   January 21, 2010         


Retail Holders - RTH - close: 91.50 change: +0.08 stop: 95.05

There is no change from my weekend comments on the RTH. I'm suggesting small positions now. We can double down if we see another failed rally in the $93-94 region. Our first target is the $87.00 level. The 200-dma will probably be support. The RTH moves kind of slow.

Entry  on   January 23 at $ 91.42 
Change since picked:       + 0.08
Earnings Date            --/--/--
Average Daily Volume =        1.7 million  
Listed on   January 23, 2010         


CLOSED BULLISH PLAYS

Deckers Outdoor - DECK - close: 100.71 change: +0.03 stop: 99.75

I am hitting the eject button on our DECK bounce play. There was no bounce. The stock actually gapped open at $102 and then faded back toward the $100 level to closed almost unchanged on the day. The $100 level is still support and more aggressive traders may want to let it ride. I'm worried that DECK is going to break down if it can't keep pace with the market's bounce on Monday.

Chart:

Entry  on   January 23 at $102.00 /gap open entry point.
Change since picked:       - 1.29 <-- exit early at $100.71 (-1.2%)
Earnings Date            02/25/10 (unconfirmed)
Average Daily Volume =        549 thousand 
Listed on   January 23, 2010         


Joyg Global - JOYG - close: 48.68 change: -0.95 stop: 48.90

Metal and mining related stocks continued to sink on Monday. JOYG's oversold bounce made it to $50.90 before rolling over and sinking to new relative lows. Our stop loss was hit at $48.90.

Chart:

Entry  on   January 22 at $ 50.50 
Change since picked:       - 1.60 <-- stopped out @ 48.90 (-3.1%)
Earnings Date            03/03/10 (unconfirmed)
Average Daily Volume =        2.8 million  
Listed on   January 19, 2010