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Trade Updates



BULLISH Trade Updates

symbol: BAP -(Credicorp Ltd. )-

closing price: 47.50, today's change: +0.81, stop loss: 43.90

Picked on December 20 at $46.69 
Change since picked:     + 0.81   			
Earnings Date          02/05/09 (unconfirmed)    
Average Daily Volume:       379 thousand    

BAP out performed the U.S. markets on Monday with a 1.7% gain. The stock continues to build on the bullish pattern of higher lows. Shares look poised to breakout over the $48.00 level soon. I don't see any changes from my comments over the weekend and would still consider new positions here.

There is potential resistance at $50.00 but we're aiming for the $52.50 mark, underneath technical resistance at its descending 100-dma. Technical trades will be interested to note that the Point & Figure chart is bullish with a $66 target.


symbol: CMI -( Cummins Inc. )-

closing price: 24.85, today's change: -1.66, stop loss: 24.15

Picked on December 20 at $26.51 
Change since picked:     - 1.66   			
Earnings Date          01/30/09 (unconfirmed)    
Average Daily Volume:       4.1 million     

It was a bad day for CMI. Monday saw shares fall 6.2% and almost break the bullish trend of higher lows. CMI may have been following the automarkers lower. Ford lost 12% and GM lost 21%. CMI managed to bounce twice in the $24.25-24.50 zone. A new rebound over $25.00-25.25 could be used as a new bullish entry point.

We have two targets. Take some money off the table at our first target of $29.90. Our second target is $32.45. Readers may want to consider a higher target. The 38.2% Fibonacci retracement of its sell-off is close to $40.00. The Point & Figure chart is also bullish with a $39.00 target.


symbol: LMT -( Lockheed Martin )-

closing price: 78.92, today's change: -1.09, stop loss: 77.49

Picked on December 20 at $80.01 
Change since picked:     - 1.09   			
Earnings Date          01/22/09 (unconfirmed)    
Average Daily Volume:       3.0 million     

Overall defense stocks showed some relative strength. The DFI index only lost 0.6% probably due to news that General Dynamic (GD) and Northrop Grumman (NOC) had won a five-year, $14 billion contract to build eight new submarines for the U.S. Navy. Shares of LMT slipped to $77.52 before bouncing in the last half hour. I would use the bounce as a new entry point to buy LMT or to buy January call options on LMT.

If you choose to buy call options instead of the stock I would pick the January 80 calls (LMT-AP currently $3.10) or the January 85 calls (LMT-AQ currently $1.30). Use a stop on the stock, LMT, to close out your call position.

We're listing two targets. Our first target is $84.85. Our second target is $88.00. The Point & Figure chart is bullish with a $90.00 target but it also shows potential resistance near $83-84.


symbol: PFG -( Principal Fincl. Group )-

closing price: 19.25, today's change: -1.06, stop loss: 17.99

Picked on December 20 at $20.31 
Change since picked:     - 1.06   			
Earnings Date          02/09/09 (unconfirmed)    
Average Daily Volume:       4.9 million     

PFG spent the day slowly drifting lower but it failed to break down under the 10-dma or its 50-dma. Look for a new bounce over $20.00 or a new bounce from the $18.00 level as a bullish entry point to buy PFG.

Our target is $24.75. More aggressive traders may want to aim higher. The Point & Figure chart is bullish with a $31.00 target but it also shows some resistance in the $24-25 zone.


symbol: PJC -( Piper Jaffray )-

closing price: 36.26, today's change: -0.67, stop loss: 33.95

Picked on December 20 at $36.93 
Change since picked:     - 0.67   			
Earnings Date          01/21/09 (unconfirmed)    
Average Daily Volume:           thousand    

PJC dipped toward $35.25 and then bounced late in the day. PJC's 1.8% loss is a lot better than the 4.6% decline in the XBD broker-dealer index or the 3.2% drop in the BKX banking index. Yesterday I suggested that a dip toward $35.00 would be an attractive entry point and we got it.

The Point & Figure chart is bullish with a $53 target. We're not quite that optimistic. We're using two targets. Out first target is $39.95. Our second target is $43.50.



BEARISH Play Updates

*We currently do not have any bearish play updates*


CLOSED BULLISH PLAYS

symbol: IYR -( iShares Real Estate )-

closing price: 36.47, today's change: -0.78, stop loss: 34.90

Picked on December 20 at $37.25 /Stopped @ 34.90
Change since picked:     - 0.78   			
Earnings Date          00/00/00 
Average Daily Volume:        49 million     

It was a very volatile day for the IYR, the REIT ETF. Shares of the IYR dipped under support at the $35.00 mark and hit our stop loss at $34.90. The intraday low was $34.68 but like many securities the IYR saw a very sharp late minute bounce into the closing bell. The general trend of higher lows is still in place. More aggressive traders may want to try again and buy the bounce with a stop under today's low.

-chart-




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