Current Portfolio:


CALL Play Updates

ADSK - Autodesk - $29.06, Change +0.15 Stop $27.50

ADSK continues to inch higher and managed to tag yet another new 52-week high. It's worth noting that upward momentum is slowing and volume is drying up. I think this rally is running out of steam. Personally I think this stock is ready to correct soon.

I am not suggesting new bullish positions in ADSK at this time, at least not with the S&P 500 this close to resistance at 1150 and ready to pull back.

Current Position: CALL APR 30.00 (ADSK 10D30.00) @ $0.55

Entry on March 8th at $ 28.72
Earnings Date 02/24/10 (confirmed)
Average Daily Volume = 2.75 million
Listed on March 6th, 2010


ATHN - AthenaHealth Inc - $38.21, Change -0.75 Stop $36.50

ATHN appears to be losing the fight against resistance near $39.50 and its 200-dma. On a short-term basis the stock looks like it's about to roll over. More conservative traders may want to up their stop loss. I am not suggesting new positions at this time. However, this trade is an earnings "lottery ticket" style of play. The plan was to open positions ahead of the earnings report on March 15th and then hold over the announcement with the expectation of a post-earnings rally. It's an aggressive strategy and readers can still buy calls now although if you wait another day or two you might get a better entry point closer to $37.00. I would expect some short-term resistance near $42.00 and then near $44.00.

Current Position: CALL APR 40.00 (ATHN 10D40.00) @ $2.00

Entry on March 8th at $ 39.20
Earnings Date = 03/15/2010
Average Daily Volume = 600,000
Listed on March 6th, 2010


BUCY - Bucyrus International - $65.63, Change -0.49 Stop $62.50

The action today was a little disappointing. Traders bought the initial dip to $65.00 this morning but the rebound failed midday and shares began to roll over. This sort of relative weakness while the major indices hit new relative highs is a caution sign for bulls. I am not suggesting new positions at this time. More conservative traders may want to take profits now! Our target to exit is $68.00.

Current Position: CALL APR 65.00 (BUCY 10D6500) @ $3.82

Entry on March 1st at $ 62.56
Earnings Date 02/18/10
Average Daily Volume = 1.75 million
Listed on February 28, 2010


TEVA Pharmaceuticals - TEVA - close: 61.48 change: +0.99 stop: 59.50

Traders are buying the dip and shares rebounded off their 10-dma and yesterday's test of the $60.00 level. The up trend remains intact although I will point out today looks like an "inside day" and if TEVA doesn't confirm with another gain tomorrow it could be a sign the rally is fading. Our target to exit is $64.00. FYI: Don't forget that we only have two weeks left on March options.

Current Position: CALL MAR 60.00 (TVQ 10C6000) @ $0.70

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


CLOSED BULLISH PLAYS

CSCO - Cisco Systems - $26.13, change +0.00 stop $24.65

It looks like investors were unimpressed with CSCO's big announcement today. CSCO unveiled the new CRS-3 router, which is supposed to be 12 times faster than any rival product. Reuters quoted CSCO that 72 of the new CRS-3 routers connected together could deliver every movie ever made in four minutes over the Internet. Shares of CSCO spiked to an new high intraday hitting $26.48 but closed unchanged on the session. I am suggesting an early exit now!

Closed Position: CALL APR 25.00 (CSCO 10D25.00) @ $1.47 (bid)
entry was $0.65

Chart:

Entry on March 4th at $ 24.84
Earnings Date N/A
Average Daily Volume = 50.0 million
Listed on March 03, 2010


Colgate Palmolive - CL - close: 84.50 change: +0.55 stop: 83.25

Target achieved. Yesterday we adjusted the target down to $84.90. CL rallied off its 10-dma this morning and hit $84.93.

Closed Position: CALL MAY 85.00 (CL 10E8500) @ $2.40
entry was at $1.90

Chart:

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