CALL Play Updates

Colgate Palmolive - CL - close: 83.75 change: +.85 stop: 82.50

Good day for Colgate as the stock edged over resistance at $83. No specific news, just a good day in the market pushing consumer stocks higher.

Our target to exit is $85.00.

Entry  on  February 20 at $ 81.75 
Change since picked:       + 1.65
Earnings Date            04/29/10 (unconfirmed)
Average Daily Volume =        2.8 million  
Listed on  February 20, 2010         


Sina Corp. - SINA - close: 37.37 change: -0.45 stop: 36.95

Worries over China's growth knocked 45-cents off SINA today. Earnings are Wednesday so we need to exit this play at the close on Tuesday. Since we are going to exit at the close I raised the stop to $36.95 just in case there is more weakness on Tuesday.

Currently we have a target to take profits at $39.95.

Entry  on  February 22 at $ 36.50
Change since picked:       + 0.71
Earnings Date            03/03/10 (confirmed)
Average Daily Volume =        1.4 million  
Listed on  February 18, 2010         


TEVA Pharmaceuticals - TEVA - close: 60.60 change: +0.60 stop: 59.50

Shares of TEVA continue to show relative strength with a new high on Monday. I am raising our stop loss again to $59.50. I never want to give back any gains and I am still concerned about potential market weakness. Our target to exit is $64.00.

Entry  on  February 20 at $ 58.74 
Change since picked:       + 1.54
Earnings Date            05/05/10 (unconfirmed)
Average Daily Volume =        5.1 million  
Listed on  February 20, 2010         


PUT Play Updates

Caterpillar - CAT - close: 57.86 change: +0.80 stop: 59.01

CAT rallied with the market but most of the gains were on the opening gap. CAT announced on Sunday it was tightening its "No Iran" business policy. While CAT already had a "no direct sales" policy they have now upgraded that to "no sales to anyone that might be indirectly procuring for Iran.

CAT is an aggressive put. If the global economy is recovering then CAT should lead the advance. However, if the recovery is losing traction CAT should also lead the way down. We are not suggesting new positions at this time. This is an aggressive short-term trade. Our target to exit is $52.50. *NEW*

Entry  on  February 23 at $ 56.66 
Change since picked:       + 0.13
Earnings Date            04/21/10 (unconfirmed)
Average Daily Volume =         12 million  
Listed on  February 23, 2010         


Australian Dollar ETF - FXA - close: 90.07 change: +.24 stop: 90.60

Minimal gain and still below resistance at 90.35. The FXA is in a trend of lower highs and lower lows. Our time frame for the Australian dollar to decline is several weeks so you'll need to exercise some patience. There is possible support at the 200-dma but our first target is $83.00. Our second, longer-term target is $80.10.

Entry  on  February 23 at $ 89.23 /gap higher entry
Change since picked:       + 0.84
Earnings Date            --/--/--
Average Daily Volume =        200 thousand 
Listed on  February 23, 2010         


SIEMENS - SI - close: 87.72 change: +1.50 stop: 89.75

No specific news on Siemens but the stock rallied with the sector to just below resistance. Since oil prices collapsed intraday it was surprising to see the energy stocks do so well.

Entry  on   January 26 at $ 94.34 /gap higher entry
Change since picked:       - 6.62
                            /1st target hit @ 87.55 (-7.1%)
Earnings Date            01/26/10 (confirmed)
Average Daily Volume =        368 thousand 
Listed on   January 26, 2010         


CLOSED BULLISH PLAYS

Autozone Inc - AZO - close: 165.97 change: +.07 *Closed*

Autozone earnings are Tuesday and the game plan has been to close this position at the closing bell on Monday. AZO has been pinned to the $166 level for three days now while our March option premium bled away. The option was quoted $4.50x$4.80 at the close.

Entry  on  February 16 at $161.75 (small positions)
Change since picked:       + 3.21
Earnings Date            03/02/10 (unconfirmed)
Average Daily Volume =        538 thousand 
Listed on  February 13, 2010         
Chart of AZO


CLOSED BEARISH PLAYS

Franklin Resources Inc. - BEN - close: 102.84 change: +1.12 stopped: 102.51

BEN continued to rally with a spike at the open hitting our stop and taking us out of the play. There was no specific news.

Entry  on   January 30 at $ 99.59 /gap higher entry point (small positions)
Change since picked:       + 3.25 
Earnings Date            01/28/10 (confirmed)
Average Daily Volume =        1.2 million  
Listed on   January 30, 2010         
Chart of BEN


Mckesson Corp. - MCK - close: 60.40 change: +1.25 stopped: 59.75

No specific news for McKesson today but the entire sector was higher and MCK triggered the stop at $59.75 at the open.

Entry  on   January 30 at $ 58.82 
Change since picked:       + 1.58
Earnings Date            01/26/10 (confirmed)
Average Daily Volume =        2.8 million  
Listed on   January 30, 2010         
Chart of MCK