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Newsletter

Daily Newsletter, Wednesday, 11/26/2014

Table of Contents

  1. Market Wrap
  2. New Plays
  3. In Play Updates and Reviews

Market Wrap

Thanksgiving Week Living Up To Bullish Pattern

by Keene Little

Click here to email Keene Little
The week of Thanksgiving holiday is typically a slow, but bullish, time for the stock market and this week has been no exception on both accounts. The blue chips have been on the weak side but the techs and small caps continue to show bullish behavior.

Wednesday's Market Stats

Tonight I'm putting the Economic reports at the top of my report instead of the bottom because today included the reports we'd normally get on Thursday and Friday so there are no more important economic reports for the rest of the week.

Economic reports and Summary

As you can see in the list above, this morning was busy with economic reports but they barely caused a ripple in the pre-market session -- a quick 3-point swing on the S&P futures and then quickly back to where it was before the 8:30 reports. The Durable Goods orders, ex-transportation, was a little bit of a disappointment, coming in at -0.9% vs. the +0.5% expected and below September's upwardly revised +0.2%. Personal income and spending were both less a little less than expected but a slight improvement over September's numbers.

After the opening bell we got more reports that were not that good overall. The Chicago PMI, which came in light at 60.8, was below expectations for only a drop to 63 from October's 66.2. Michigan Sentiment also came in lighter than expected, 88.8 vs 90 expected and below October's 89.4. Home sales were disappointing with both new home sales and pending home sales less than expected. Pending sales dropped -1.1% vs. expectations for only a slight decline to +0.5%. From all these reports it would appear the consumer's confidence and sentiment is in decline and it's showing up in their spending. This is just more evidence that the economy is not as rosy as many would like us to believe. There were more than a few economists lowering their estimates for Q4 GDP

The morning was quiet and the day became quieter as many traders left the market early to start their holiday weekend. The foul weather, including snow, had many New York traders getting out early to beat the traffic and weather. The result was trading volume was as light as the lightest days of the year, which made it easier to shove the market around (up). Despite the somewhat disappointing economic reports they were able to push the market a little higher with a message to bears: stay away.

The typically bullish Thanksgiving week is on track to be another bullish week, even if only marginally so as SPX is up about 9 points for the week. Keep in mind that the typical pattern calls for at least a pullback in early December before starting a year-end rally so this week's minor gains look like they could get retraced, and then some, next week.

Kicking off tonight's chart review I think it's important to first understand how vulnerable the stock market currently is. We've seen stretched markets before and bullish sentiment/low VIX continue for far longer than seems possible but this time the market has stretched even the stretched indicators. When the rubber band snaps this time it's likely to surprise many market participants, especially those who believe in the end-of-year rally scenario and/or in the all-powerful and benevolent Fed.

Tom McClellan showed a chart today of the bearish percent as reported by Investor's Intelligence (a measure of how many newsletter writers are currently bullish, bearish or looking for a correction). The percentage of bears is plotted upside down on McClellan's chart below to better visualize the coincidence of low bear percentage with previous market highs (the higher the blue line the lower the percent bears), which is again approaching a dangerously high (low) level, less than 15% bears at the moment. You can also see that previous low levels of percent bears has only resulted in a relatively small correction so from this it's not particularly scary except to warn of at least another pullback from the current high.

Investors Intelligence Percent Bears (plotted inversely), chart courtesy mcoscillator.com

Another measure of sentiment is shown with the Sentix Sentiment chart below. It has risen to the highest level of the year and matching December 2013. The December high in the stock market led to a -6% decline in January, which again shows it wasn't a rally killer but the excessive bullish sentiment first needed to be flushed away before the market could proceed higher.

Sentix Sentiment vs. SPX

The two charts above show us what the sentiment looks like but what does that mean for what investors are doing? The chart below shows the ratio of SPX bullish vs. bearish funds in Rydex. The ratio spiked higher following the October low, showing investors are putting their money where their sentiment is and if that doesn't look like a blow-off move then I don't know what qualifies. This is a vivid example of everyone jumping into the pool and as noted on the chart, it's the first time the ratio has achieved 2:1 in favor of bullish assets since February 2001. The high for SPX in February 2001 was actually a relatively small bounce in the stock market (but it had everyone convinced new market highs were coming) before rolling over and down into the 2002 low. It's the high bull:bear ratio and more importantly it's the rapidity at which the ratio has climbed in the last month that should have bulls quivering in their hooves right now.

Rydex Ratio of S&P 500 Bullish vs. Bearish Assets, chart courtesy my401kPro.com

Accompanying all this bullish fervor by investors is a market that is flat out running out of gas. The roller coaster that's been slowly clickety-clacking its way up the steep incline, especially with this month's shallow up-channels for price, has everyone giddy with joy for the expected fun (profitable ride). The problem is the gear pulling the train of cars up the incline is starting to lose some teeth and when it finally strips the gears it's going to be a run back down the incline going backwards and not something the riders expect to happen.

The charts below show the NYSE at the top and its potential triple-top formation as price again tests its July and September highs. At the same time it's back-testing its broken uptrend line from November 2012 (gray line), which was broken in late September. It's back up for a test of the previous highs and its broken uptrend line -- this is a setup only a bear could love, especially with the decaying market breadth. The middle chart shows the number of new 52-week highs, which has been declining rapidly since the October 26th high, and the bottom chart shows the advancing issues minus the declining issues, which is also showing fewer and fewer stocks are participating in the rally. In other words, the NYSE (and the other broader indexes) keeps pushing higher on the backs of fewer and fewer stocks. Sky-high bullish sentiment with deteriorating market breadth following a blow-off move to a new high is a recipe for disaster for late-to-the-party bulls.

NYSE vs. New 52-week highs and Advance-Decline Issues

We know price is king and the charts above don't mean a hill of beans (well, maybe one bean in the bear's pot) since we make or lose our money based solely on what price does. For that we go to the individual charts and use some technical indicators to help get a sense about what price is doing. I'll start with the RUT since it's been the stronger index off last Wednesday's low and it's approaching an important level. Starting with its weekly chart, this week's (yesterday's) high near 1192 is only about 4 points away from testing its broken uptrend line from March 2009 - October 2011, which will be near 1196 on Friday. This is a major uptrend line identifying the trend of the RUT's bull market since the 2009 low and breaking it in late September was a big deal. It's now back up for a potential back-test. At the same time it's also close to its previous highs in July and September for a possible triple top (3 drives to a high topping pattern).

Russell-2000, RUT, Weekly chart

Looking closer at the 3rd test of the broken uptrend line from March 2009, it's the 3rd attempt and now it's showing bearish divergence. In addition to the 3-drives-to-a-high topping pattern on the weekly chart we have the same pattern on the daily chart. This one is looking juicy for the bears, all 15% of them.

Russell-2000, RUT, Daily chart

Key Levels for RUT:
- bullish above 1202
- bearish below 1169

Moving in even closer, with the 60-min chart below, it's not a clean wave count but the best fit at the moment is to call the rally from November 19th the 5th wave. It would equal 62% of the 1st wave (a common relationship when the 3rd wave equals the 1st wave, which is what we have here) at 1199.38. This Friday's half-day session will see the top of a small rising wedge (ending diagonal 5th wave) intersecting the trend line along the highs from November 3-12 near 1203. So for Friday we've got an upside target/resistance zone at 1196-1203. A drop back below price-level support near 1184 would be a bearish heads up and below 1169 would tell us a high is in place.

Russell-2000, RUT, 60-min chart

Yesterday SPX made it up to the price projection at 2073.28, which is the 127% extension of its previous decline (September-October). It pulled back and then rallied back up to the projection just before the close before pulling back a little. I see upside potential to about 2082 (more bullish above that level) but the choppy move higher this month is a warning to bulls since it fits as an ending pattern (choppy moves up or down warn of a trend change).

S&P 500, SPX, Daily chart

Key Levels for SPX:
- bullish above 2082
- bearish below 2040

Looking closer at the move up from October, the 60-min chart below shows the slow choppy move up since the pullback on November 4th. It has been nuzzling up along its broken uptrend line from November 2012 and has been losing momentum in the past week. The small candles (and this is an intraday chart) since last Friday shows it's been just enough to keep the sellers away but hardly inspiring for the bulls to latch onto. It continues to look more like a rolling top pattern.

S&P 500, SPX, 60-min chart

There's a trader group that I belong to that includes Stan Harley, who writes a market timing newsletter, and his work has been recognized by Timer Digest. His work has been intriguing to say the least and the chart below is based on some of what he does, which is based on the formula 1/sq.rt.5 (1 over the square root of 5), which is .447. The number '5' is a Fibonacci number and it's common to see square root relationships between the various Fibonacci ratios. For example, the 78.6% retracement level that's been common in this market is the square root of 61.8%; the square root of 38.2% is 61.8%; 1 + sq.rt of 5 divided by 2 gives you 1.618, which is the golden ratio (phi). You get the idea. At any rate, the "opposite" of .447 is .553 (add them together to get 1) and it is this ratio that pops up repeatedly in the market's highs and lows.

I put together the SPX weekly chart below that shows this .447/.553 relationship in the highs and lows since March 2009. It also works before that date but this is to show the idea and why we're in an important turn window now. When you see a confluence of timing indicators, whether they are Fibonacci, astrological, Gann or cycles of days/weeks/months, it pays to watch closely for a market turn. The confluence of a few different .447/.553 ratios between previous market turns is now showing a confluence in the last half of November, which means it's a potentially important time period. Since we're rallying into it there is a high-odds likelihood that it will mark a high. This is a big reason why I'm looking for other technical indicators (EW pattern, trend lines, bearish divergence, overbought, etc.) to help confirm or negate the likelihood for an important market high here.

S&P 500, SPX, Weekly chart

It's hard to see on the chart above, since price is somewhat hidden by the vertical lines, but price is now up against the top of a parallel up-channel for the rally from October 2011. As I've shown in the past, the leg up from this past October fits well as the 5th wave of the rally from October 2011 and the fact that it's up to the top of its up-channel, with bearish divergence and at the turn window means bulls should be very careful here. It's a really nice reversal setup but of course we have no guarantee it will reverse.

Since last Friday the DOW has been poking at its trend line along the highs from May 2011 - December 2013, currently near 17873, but it's not clear yet whether or not it's going to be able to break through. The loss of momentum in its rally suggests anymore headway to the upside is going to be a tough battle.

Dow Industrials, INDU, Daily chart

Key Levels for DOW:
- bullish above 17,900
- bearish below 17,600

NDX was the stronger index today and it was able to break through trendline resistance near 4300. But it's now important for it to hold above 4300 otherwise it could be left as a head-fake break. As with the other indexes, the relatively shallow up-channel from November 4th is hard to figure out but a final 3-wave move for it would have two equal legs up at 4320.29, less than a point from today's high. A drop back below 4300 would be a bearish heads up and below 4200 would confirm the high is in place. In the meantime the bulls rule (but I don't trust them here).

Nasdaq-100, NDX, Daily chart

Key Levels for NDX:
- bullish above 4300
- bearish below 4200

Helping NDX today, the semiconductor index (SOX) got a big pop up this morning and continued higher through the day, hitting a high near 684. That has it now close to a price projection at 688.71, shown on its weekly chart below, which is where the 5th wave (the leg up from October) in the move up from November 2012 would equal the 1st wave. The bullish development since last week is the climb back above its broken uptrend line from November 2012 and the climb above the trend line across the highs since July-September, currently near 668. But the bearish divergence at the new high, noted on the RSI, is another warning sign that this should be the 5th wave and the last hurrah for the bulls. From a timing perspective, this week would be a good turning point for the SOX since the time between its July-September-November highs is the same. A drop below 644 would be a strong indication that the rally is over but in the meantime there's still a little more upside potential.

Semiconductor index, SOX, Weekly chart

Over the past couple of months I've shown many charts indicating how much the stock market's broader indexes are way out of whack with so many other indexes. The ratio of consumer discretionary stocks vs. consumer staples has been showing how consumers have been getting defensive since the beginning of the year. As discussed at the beginning of this report, this morning's economic reports confirm the consumer is pulling in its horns. The comparison between commodity prices, which reflect global economic strength (and some due to strengthening in the U.S. dollar), and the stock market has been glaring for a long time (since 2011) but especially since the sharp decline in commodity prices since April. Another indicator is bond yields.

The stock market generally does better in an inflationary period because it's usually a good sign of economic strength -- companies' bottom lines tend to look better and that shows up in their higher stock prices. The opposite is also true -- in a "disinflationary" period stocks tend to suffer while bonds prices tend to rise. In an inflationary period bond yields climb because investors demand the higher yields to compensate for higher inflation. Higher yields mean lower bond prices but since the November 7th high for TNX its decline has created a widening spread between it and the stock indexes, as can be seen on the chart below.

SPX vs. TNX vs. DJUBS Commodity index

In the above chart you can see the both SPX and TNX spiked up off the October low but the rally for Treasury yields only lasted until November 7th. The dive lower in TNX since November 19th is widening the gap between the two as SPX just keeps pushing higher, oblivious to the message from the bond (smarter) market. I strongly suspect this is going to end in tears for those buying into the stock market rally here. The signal from the bond market suggests all the projections by economists for a growing economy are instead signs of a slowing one. Economists have a habit of making projections based on the past and are therefore consistently wrong at the turns.

The rally for the banking index, BKX, has not been as strong off the October low since it has not yet been able to exceed its September high. But it's close to a retest, which includes a retest of its March high. At the same time it has bounced back up to its broken uptrend line from October 2011 and the bearish divergence shown on the weekly chart below suggests the back-test could lead to a bearish kiss goodbye.

KBW Bank index, BKX, Weekly chart

For the past several weeks, whenever I showed the TRAN's chart, I was using the weekly chart to show the larger pattern and wave count. I'm looking for the completion of an a-b-c move up from October 2011 with the c-wave being the leg up from November 2012. It needs to be a 5-wave move and the leg up from October fits well as the 5th wave. Therefore once it completes it should be the completion of the entire rally from 2009. The daily chart below focuses where this 5th wave might finish.

Transportation Index, TRAN, Daily chart

The TRAN is currently pushing up against the trend line along the highs from March-May 2013 - May 2011, which was tested yesterday and today. This trend line is the top of a parallel up-channel for the rally since June 2013. There's higher potential to a longer-term trend line along the highs from April 2010 - May 2011, currently near 9360, and then a projection at 9430, where the 5th wave of the move up from October 2011 would equal the 1st wave. But the bearish divergence against the November 14th high suggests it could be in the final 5th of the 5th wave and might be stopped by the current trend line it's hitting. A drop below its November 19th low at 8961 would indicate the bull's party is over.

The U.S. dollar poked a little higher above its November 7th high and from a short-term perspective the move up from October 15th now looks like a completed 5-wave move that should be the completion of the 5th wave in the move up from May. A drop back below the downtrend line from March 2009 - June 2010, near 86.90, would be a good indication the dollar is into at least a larger pullback before continuing higher. There remains the potential for the dollar to pull all the back down to its uptrend line from April 2008 - May 2011 in a large sideways triangle pattern, perhaps down to about 75-76 by this time next year. But I think the dollar has much more bullish plans for its future (110-120).

U.S. Dollar contract, DX, Weekly chart

If the dollar is getting ready for at least a larger pullback into early 2015 that could help the commodities, including gold and oil. But gold's choppy bounce off the low on November 7th is a sign for gold bulls to be cautious. A "no" vote by the Swiss to require their central bank to buy more gold could spike gold back down, in which case I'll be watching for support near 1190. It takes a rally out of its down-channel that it's been in since 2011, the top of which is currently near 1250, to at least turn gold temporarily bullish but I continue to lean to the larger bearish pattern that calls for lower prices for gold into next year, regardless what the dollar does.

Gold continuous contract, GC, Weekly chart

Oil has remained weak and it's dropping lower in tonight's after-hours session (fighting to hold onto 73). I continue to look for the start of a larger bounce but it won't be clear for a while whether the bounce will develop into a 4th wave correction in the move down from 2013 or something more bullish. If oil continues to struggle I have a downside price projection, based on its pattern for the decline from June, at 66.90. The uptrend line from 1998-2008 will be near 65 by the end of December if the sellers keep up the pressure.

Oil continuous contract, CL, Weekly chart

As I look across the various sectors and indexes I get the distinct impression we're going to see trend reversals by next week. The stock market is peaky and fading. I've got a plethora of signals telling me the highs are very close to being put in place, perhaps during Friday's half session. Treasury yields have been pointing the way lower for about two weeks but the stock market has been ignoring the message. I doubt that will last much longer.

The commodity index looks like it could be bottoming although when I look at oil I wonder if there's a little more downside. Oil might be in a category of its own right now. The dollar looks ready for a reversal and a move back down into at least a larger pullback over the next few months. That should theoretically help commodities, including the metals. Since most of us focus our trading attention on the stock market, bears should get ready for their turn at the feeding trough while the bears go sleep it off.

Unfortunately for most of the bulls, they usually don't know when to exit and they get creamed in the melee when the bears start their attack runs. The huge influx of money into mutual funds and ETFs speaks volumes for what the retail traders have been up to and the bullish sentiment confirms their enthusiasm for more stock. That's usually a good sign for smart traders to quietly take their profits and their marbles and go home and let the others fight for the scraps. If you like playing the short side I think you'll like the month of December (certainly the first two weeks and then watch out for an end-of-year bounce).

Good luck and I'll be back with you on Monday as Tom and I switch next week. I hope everyone has a great Thanksgiving holiday and enjoys their friends and family (it's the best thing about this holiday -- no gifts, just lots of good food and company). Just be very careful if you have to drive on Thursday after a big dinner -- the sleepiness of drivers could literally kill you.

Keene H. Little, CMT

In the end everything works out and if it doesn't work out, it is not the end. Old Indian Saying


New Plays

Have A Happy Thanksgiving

by James Brown

Click here to email James Brown

Editor's Note:

The stock market marched higher on Wednesday and the S&P 500 closed at an all-time high. The S&P 500 is also on track for its sixth weekly gain in a row.

Tomorrow the U.S. markets are closed for the Thanksgiving holiday. On Friday markets will open but they close early at 1:00 p.m. (Eastern).

We are not adding any new trades tonight.

I hope everyone has a safe and happy holiday with your friends and family.

-James




In Play Updates and Reviews

Semiconductor Stocks Surge

by James Brown

Click here to email James Brown

Editor's Note:
Semiconductor stocks were some of the market's best performers on Wednesday. Our Micron (MU) trade is offering a new entry point.


Current Portfolio:


BULLISH Play Updates

Ambarella, Inc. - AMBA - close: 54.85 change: +3.66

Stop Loss: 48.75
Target(s): To Be Determined
Current Option Gain/Loss: +18.0%
Entry on November 07 at $46.50
Listed on November 06, 2014
Time Frame: Exit PRIOR to earnings on December 4th
Average Daily Volume = 1.6 million
New Positions: see below

Comments:
11/26/14: Shares of AMBA were soaring today with a +7.1% rally to new highs. This might be thanks to news that GoPro is launching a new consumer drone product and AMBA is probably making the camera parts for it.

Tonight we will raise the stop loss to $48.75. I'm not suggesting new positions.

Note: AMBA has earnings coming up on December 4th. We will likely exit prior to the announcement.

Earlier Comments: November 6, 2014:
AMBA is in the technology sector. They're considered part of the semiconductor and semiconductor equipment makers. The company was founded in 2004 and went public in October 2012 at $6.00 a share. That price was significantly below where AMBA was expected to price in the $9-11 range. Investor sentiment has definitely changed since then.

The company has grown from making broadcast-class encoders to making consumer and sports cameras, security cameras, and now automotive cameras. Their high-definition chips are being integrated into security IP cameras and wearable cameras. AMBA is also capturing part of a new market - cameras on consumer-level remote control drones.

The last two plus years have seen a strong performance in AMBA with the stock up more than +600% from its IPO price. AMBA has GoPro, Inc. (GPRO) to thank for part of that rally. GPRO came to market in June this year and the stock has been in rally mode since mid August with a rally in GPRO from less than $40 to $90 a share. I mention GPRO because AMBA happens to make the HD camera sensors in many of GPRO's products. As GPRO rallies it could be giving AMBA a boost and GPRO expects record sales this holiday season. I find it interesting that GPRO has been chopping sideways the last few weeks while AMBA has hit new highs.

Another note on GPRO, the company reported earnings on October 30th and beat estimates on both the top and bottom line. GPRO management then raised their earnings guidance significantly above Wall Street's estimates. That should spell good news for AMBA's business with GPRO.

GPRO isn't the only one with strong earnings. AMBA's rally has been helped by consistent earnings growth. The company has beat Wall Street's estimates on both the top and bottom line for the last four quarters in a row. Their most recent earnings report in September saw AMBA's management raise their revenue guidance.

Shorts are getting killed. As the rally continues AMBA could see more short covering. The most recent data listed short interest at 26.7% of the small 28.0 million share float.

Currently AMBA is bouncing from the $44.00 level after a two-day pullback. If this rebound continues we want to hop on board. The company will likely report earnings in early December so our time frame is the next four to six weeks.

- Suggested Positions -

Long AMBA stock @ $46.50

- (or for more adventurous traders, try this option) -

Long DEC $50 call (AMBA141220C50) entry $2.15

11/26/14 new stop @ 48.75
11/22/14 new stop @ 47.35
11/13/14 Warning! Today's move is a potential bearish reversal
11/12/14 new stop @ 46.75
11/07/14 triggered @ $46.50
Option Format: symbol-year-month-day-call-strike


Columbia Sportswear Co. - COLM - close: 44.40 change: +0.09

Stop Loss: 42.25
Target(s): To Be Determined
Current Option Gain/Loss: +10.3%
Entry on November 06 at $40.25
Listed on November 04, 2014
Time Frame: 8 to 12 weeks
Average Daily Volume = 138 thousand
New Positions: see below

Comments:
11/26/14: Wednesday was a quiet session for shares of COLM. The stock traded sideways in a very narrow range.

I am not suggesting new positions.

Earlier Comments: November 5, 2014:
COLM has been consistently beating earnings expectations all year long. The company is part of the consumer goods sector.

According to a company press release, "Columbia Sportswear Company is a leader in the global outdoor and active lifestyle apparel, footwear, accessories and equipment industry. Founded in 1938 in Portland, Oregon, the company has assembled a portfolio of global brands whose products are sold in approximately 100 countries. In addition to the Columbia brand, Columbia Sportswear Company also owns the Mountain Hardwear, Sorel, prAna, Montrail and OutDry brands."

The trend of earnings in 2014 has been strong with COLM beating Wall Street's earnings estimates four quarters in a row and raising guidance three out of four quarters. Their most recent earnings report was October 30th. Analysts were looking for a profit of $0.87 per share on revenues of $632.29 million. COLM delivered earnings growth of +20% to $0.93 a share. Revenues soared +29% to $675.3 million.

Management then raised their full year 2014 earnings and revenue guidance above analysts' estimates. COLM expects 2014 sales to hit $2.06 billion, which is +22% improvement above 2013. They also expect gross margins to rise 130 basis points from a year ago. COLM is guiding 2014 net income to rise +35% to $1.80 per share.

COLM's president and chief executive office, Tim Boyle, said they expect 2015 net sales to grow at a double-digit rate above their new 2014 estimate of $2.06 billion. They plan to hit mid-teen operating margins.

COLM appears to have strong sales momentum as we head into the crucial holiday shopping season. Retail analysts are expecting industry wide sales to be above average this year. Low gasoline prices provide a great tailwind for all the consumer goods companies.

Technically shares of COLM found support near $34-35 dating back to their prior highs (see the long-term chart below). The rebound has accelerated thanks to the company's earnings report and bullish guidance. Now COLMN is breaking out past resistance at $40.00 and its simple 200-dma. We are suggesting a trigger to open bullish positions at $40.25.

- Suggested Positions -

Long COLM stock @ $40.25

- (or for more adventurous traders, try this option) -

Long 2015 Jan $40 call (COLM150117C40) entry $1.75

11/25/14 new stop @ 42.25
11/24/14 new stop @ 41.85
11/19/14 new stop @ 41.45, readers may want to take some money off the table right here.
11/12/14 new stop @ 39.25
11/06/14 triggered @ $40.25
Option Format: symbol-year-month-day-call-strike


CSX Corp. - CSX - close: 37.91 change: +0.03

Stop Loss: 36.25
Target(s): To Be Determined
Current Option Gain/Loss: + 2.2%
Entry on November 20 at $37.10
Listed on November 19, 2014
Time Frame: 8 to 12 weeks
Average Daily Volume = 7.2 million
New Positions: see below

Comments:
11/26/14: CSX has spent three days in a row hovering just below short-term resistance at $38.00. If shares see a pullback look for support near the $37.00 mark.

Earlier Comments: November 19, 2014:
CSX is in the services sector. They run a railroad and intermodal transport business that covers much of the U.S. and Canada. According to the company website, "CSX Corporation, together with its subsidiaries based in Jacksonville, Fla., is one of the nation's leading transportation suppliers. The company's rail and intermodal businesses provide rail-based transportation services including traditional rail service and the transport of intermodal containers and trailers.

Overall, the CSX Transportation network encompasses about 21,000 route miles of track in 23 states, the District of Columbia and the Canadian provinces of Ontario and Quebec. Our transportation network serves some of the largest population centers in the nation. Nearly two-thirds of Americans live within CSX's service territory.

CSX serves major markets in the eastern United States and has access to over 70 ocean, river and lake port terminals along the Atlantic and Gulf Coasts, the Mississippi River, the Great Lakes and the St. Lawrence Seaway. The company also has access to Pacific ports through alliances with western railroads."

The railroad stocks have been showing relative strength as the broader U.S. economy slowly improves. Weekly average carloads have hit levels not seen in years. CSX's most recent earnings report was October 14th and it was a record breaker with record revenue, operating income, net earnings and EPS.

Wall Street was expecting a profit of $0.48 per share on revenues of $3.18 billion. CSX reported $0.51 a share, which is a +13% increase from $0.45 a year ago. Revenues were up +7.9% to $3.22 billion. Management said that "This performance was supported by volume increases of 7 percent, with broad-based growth across nearly all markets CSX serves." It was CSX's third earnings beat in a row.

CSX's Executive Vice President of Sales and Marketing and Chief Commercial Officer, Mr. Clarence Gooden, said, "The underlying macro-economy remains strong and the data and our experience suggest a positive outlook for growth." CSX is expecting steady growth in the fourth quarter and they see growth improving to double-digit earnings growth and margin strength in 2015.

When asked about the drop in oil prices CSX does not think the drop in oil will impact their business. CSX management said they have already signed more than 50% of their 2015 contracts. There has been some speculation that coal could impact the rail business but CSX believes domestic coal volumes will remain strong as utilities continue to rebuild their inventories.

Investors might like to know that CSX saw some big gains in October over M&A speculation. Evidently Canadian Pacific (CP) had approached CSX about a merger but CSX rejected the offer. That has revived the idea that the railroad industry could see more M&A.

Shares of CSX have spent the last few days consolidating sideways in the $36.40-37.00 zone. A breakout could be a new entry point. I'm suggesting a trigger to open bullish positions at $37.10.

- Suggested Positions -

Long CSX stock @ $37.10

- (or for more adventurous traders, try this option) -

Long 2015 Jan $37 call (CSX150117c37) entry $1.30

11/20/14 triggered @ 37.10
Option Format: symbol-year-month-day-call-strike


Barracuda Networks - CUDA - close: 35.85 change: +0.05

Stop Loss: 33.65
Target(s): To Be Determined
Current Option Gain/Loss: + 0.6%
Entry on November 18 at $35.65
Listed on November 12, 2014
Time Frame: 8 to 12 weeks
Average Daily Volume = 247 thousand
New Positions: see below

Comments:
11/26/14: CUDA was little changed on the session. Shares continue to churn sideways near resistance in the $36.00 area.

A breakout past yesterday's high ($36.37) could be used as a new entry point.

Earlier Comments: November 15, 2014:
CUDA is part of the technology sector. This is a small cap company in the cloud computing space. According to the website, "Barracuda provides cloud-connected security and storage solutions that simplify IT. These powerful, easy-to-use and affordable solutions are trusted by more than 150,000 organizations worldwide and are delivered in appliance, virtual appliance, cloud and hybrid deployments. Barracuda's customer-centric business model focuses on delivering high-value, subscription-based IT solutions that provide end-to-end network and data security."

CUDA has only been a public company for little more than a year. Lately they have been on a roll with their earnings reports. CUDA has beaten Wall Street's estimates on both the top and bottom line four quarters in a row. The last two reports also included bullish guidance.

CUDA's most recent report was October 9th when they reported their Q2 results. Analysts were expecting a profit of $0.04 a share on revenues of $66.7 million. CUDA delivered a big beat with a profit of $0.8 on revenue growth of +18.9% to $68.7 million.

Management said their active subscribers grew +18% and their renewal rate was 96.5%. Their Next Generation Firewall solutions saw sales up +50% in the quarter. CUDA said sales were up across all geographically regions. Plus their gross margins were strong with an improvement to 81.7%. That's above the prior quarter's 80.4% and the year ago period 79.8%.

CUDA's guidance was bullish. Their Q3 estimates are for revenues in the $69-70 million range versus Wall Street's $69 million estimate. They expect a profit in the $0.04-0.05 zone compared to estimates of only $0.03. They raised their 2015 revenue guidance above their prior estimates but this was slightly below Wall Street's estimate. They also raised their 2015 earnings growth into the $0.22-0.24 range compared to analysts' consensus estimates of only $0.17.

Technically the stock has been soaring from its double bottom in the $24.00 area. The point & figure chart is bullish and forecasting a long-term target of $56.00. Right now CUDA is testing resistance in the $35.00 area. A breakout here could spark some short covering. The most recent data listed short interest at 9.7% of the very, very small 9.9 million share float.

We are suggesting a trigger to open bullish positions at $35.65.

- Suggested Positions -

Long CUDA stock @ $35.65

- (or for more adventurous traders, try this option) -

Long 2015 Jan $35 call (CUDA150117c35) entry $3.15

11/22/14 new stop @ 33.65
11/18/14 triggered @ $35.65
Option Format: symbol-year-month-day-call-strike


Cynosure, Inc. - CYNO - close: 27.70 change: +0.31

Stop Loss: 25.90
Target(s): To Be Determined
Current Option Gain/Loss: +5.5%
Entry on November 12 at $26.25
Listed on November 11, 2014
Time Frame: 8 to 12 weeks
Average Daily Volume = 201 thousand
New Positions: see below

Comments:
11/26/14: CYNO has rebounded back toward resistance near $28.00. I am not suggesting new positions.

Earlier Comments: November 11, 2014:
CYNO is in the healthcare sector. The company is part of the medical equipment industry. According to a company press release, "Cynosure designs, manufactures and markets medical devices for aesthetic procedures and precision surgical applications worldwide that enable plastic surgeons, dermatologists and other medical practitioners to perform non-invasive and minimally invasive procedures to remove hair, treat vascular and benign pigmented lesions, remove multi-colored tattoos, revitalize the skin, liquefy and remove unwanted fat through laser lipolysis, reduce cellulite, clear nails infected by toe fungus and ablate sweat glands."

Their flagship product is the PicoSure laser workstation, designed to remove tattoos. This laser technology produces ultra-short bursts of energy to the skin in trillionths of a second. The company recently gained FDA approval to use their PicoSure system to treat acne scars and wrinkles.

CYNO's earnings results have been mixed. Their Q1 report back in May missed estimates by four cents even though revenues were up +52% from a year ago. The stock sold off on this report. They followed that with a Q2 report in July that beat estimates as revenues soared +45% from a year ago. Growth slowed a bit in their latest report in October.

Analysts were expecting 25 cents a share on revenues of $70 million. CYNO met expectations on the bottom line while the top line grew +18% to $71.5 million.

CYNO's Chairman and CEO Michael Davin commented on the quarter saying, "Cynosure delivered record third-quarter revenue of $71.5 million, up 18 percent year-over-year as revenue in each of our direct sales channels improved from the same period in 2013. North American laser revenue increased 17 percent, revenue from our Asia Pacific subsidiaries rose 46 percent, while our European direct sales channel was up 7 percent. Product and technology innovation, expanded indications and new international marketing clearances continue to drive favorable results for the Company."

Discussing his company's outlook Davin said, "We are on schedule to launch our next flagship platform in 2015 for non-invasive fat removal, and we believe this large addressable market represents a significant growth opportunity for the Company."

Technically shares have broken out from a six-month consolidation in the $19-24 range. The rally following its October earnings report lifted CYNO above key resistance at $24.00 and its 200-dma. Shares have already retested this level as support and now the stock is breaking out to multi-month highs. The point & figure chart is bullish with a $31.50 target.

Tonight I am suggesting small bullish positions if CYNO can trade at $26.25. We want to keep our position size small to limit our risk.

*small positions* - Suggested Positions -

Long CYNO stock @ $26.25

11/19/14 new stop @ 25.90
11/18/14 caution: potential bearish reversal today
11/15/14 new stop @ $25.35
11/12/14 triggered @ 26.25


Electronic Arts - EA - close: 43.68 change: -0.33

Stop Loss: 40.85
Target(s): To Be Determined
Current Option Gain/Loss: + 4.6%
Entry on November 17 at $41.75
Listed on November 12, 2014
Time Frame: 8 to 12 weeks
Average Daily Volume = 3.7 million
New Positions: see below

Comments:
11/26/14: EA saw a little profit taking this morning but the selling was over pretty quickly. Shares spent most of the day inside the $43.50-43.90 zone.

I am not suggesting new positions at this time.

Earlier Comments: November 13, 2014:
EA is considered part of the technology sector. More broadly they are part of the entertainment industry. Previously EA was the biggest video game company on the planet but when Activision merged with Blizzard they stole the top spot. It remains a fight. EA has annual revenues of $4.1 billion while AVTI has annual revenues around $4.35 billion.

According to a company press release, "Electronic Arts (EA) is a global leader in digital interactive entertainment. The Company delivers games, content and online services for Internet-connected consoles, personal computers, mobile phones and tablets. EA has more than 300 million registered players around the world. Headquartered in Redwood City, California, EA is recognized for a portfolio of critically acclaimed, high-quality blockbuster brands such as The Sims, Madden NFL, EA SPORTS, FIFA, Battlefield, Dragon Age, and Plants vs. Zombies."

Video games are big business. Microsoft (MSFT) has sold more than 83 million Xbox 360s. Rival Sony (SNE) has sold more than 80 million PlayStation 3s. Meanwhile, another company, Steam, is the biggest online retailer for downloadable PC games and has over 75 million users. Back in 2012 the global video game market was $78 billion. That grew to $93 billion in 2013. Research firm Gartner estimates that global video game sales (all formats) could hit $111 billion by 2015. In comparison the global movie box office is only about $38 billion in 2014.

EA continues to fight for market share and dominance in the gaming industry and they've seen success in 2014. The company has beaten Wall Street's earnings estimates on both the top and bottom line three quarters in a row. Their most recent quarterly report was October 28th. Analysts were expecting a profit of $0.53 a share on revenues of $1.16 billion. EA blew those numbers away with a profit of $0.73 and revenues up +17% to $1.22 billion. Gross margins surged thanks to rising digital sales. Mobile sales were also up strongly and in-game purchases soared.

EA offered bullish guidance for both their December quarter (EA's Q3) and their fiscal year 2015. The company raised their Q3 guidance to $0.90, which was above analysts' estimates. They also raised their 2015 guidance to $2.05, which is above Wall Street's estimate.

The stock reacted by soaring to new highs in late October. Since then shares of EA have been consolidating sideways in the $40-41 zone. It looks like that consolidation could be over with EA breaking out to new highs today. The Point & Figure chart is bullish and forecasting a long-term target of $60.00.

Analysts are expecting a strong holiday shopping season this year. The big drop in oil and thus gasoline prices is giving consumers a little extra spending money. The National Retail Federation is forecasting sales growth of +4.1% versus the normal 10-year average of +2.9%. That's a very broad retail outlook. It could be even stronger for video games this year.

Tonight we are suggesting a trigger to open bullish positions at $41.75.

- Suggested Positions -

Long EA stock @ $41.75

- (or for more adventurous traders, try this option) -

Long 2015 Jan $45 call (EA150117c45) entry $0.71

11/22/14 new stop @ 40.85
11/20/14 Caution. EA could be volatile tomorrow in reaction to GME's earnings report
11/17/14 triggered @ 41.75
Option Format: symbol-year-month-day-call-strike


Isis Pharmaceuticals - ISIS - close: 52.75 change: +1.24

Stop Loss: 49.45
Target(s): To Be Determined
Current Option Gain/Loss: - 0.9%
Entry on November 25 at $53.25
Listed on November 24, 2014
Time Frame: 8 to 12 weeks
Average Daily Volume = 2.5 million
New Positions: see below

Comments:
11/26/14: Traders bought the dip in ISIS this morning and shares spent the rest of the day in rally mode. ISIS outperformed the major indices with a +2.4% gain.

Earlier Comments: November 24, 2014:
ISIS is part of the healthcare sector. They operate in the biotech space. Biotech stocks have been crushing the market this year. The BTK biotech index is up +43.4% year to date. ISIS is only up +2.2% but it has come a long way from its May 2014 lows near $22.25. The last seven months have produced a +135% rally.

According to a company press release, "Isis is exploiting its leadership position in antisense technology to discover and develop novel drugs for its product pipeline and for its partners. Isis' broad pipeline consists of 34 drugs to treat a wide variety of diseases with an emphasis on cardiovascular, metabolic, severe and rare diseases, including neurological disorders, and cancer.

Isis' partner, Genzyme, is commercializing Isis' lead product, KYNAMRO, in the United States and other countries for the treatment of patients with homozygous FH. Isis has numerous drugs in Phase 3 development in severe and rare and cardiovascular diseases. These include a novel triglyceride lowering drug, ISIS-APOCIIIRx, for patients with familial chylomicronemia syndrome; ISIS-TTRRx, which Isis is developing with GSK to treat patients with the polyneuropathy form of TTR amyloidosis; and, ISIS-SMNRx, which Isis is developing with Biogen Idec to treat infants and children with spinal muscular atrophy, a severe and rare neuromuscular disease. Isis' patents provide strong and extensive protection for its drugs and technology."

Part of the challenge with biotech stocks is their volatility. Biotechs can be extremely sensitive to any headline. The right or wrong headline about an FDA approval or clinical trial results can send a biotech stock soaring or crashing in a heartbeat.

Another challenge is earnings. Many of the smaller biotech names suffer from very lumpy earnings based on milestone payments by partners. For example, last quarter ISIS saw their quarterly revenues soar almost +90% yet they still missed Wall Street revenue estimate.

Most bulls on this stock will point to the company's pipeline. ISIS has a very broad pipeline so it's not just a one-trick pony. You can view their current pipeline here on this webpage: ISIS pipeline.

The stock has been stair-stepping higher with investors buying the dips as prior resistance acts as new support. Last week the stock garnered a new price target upgrade to $62.00. ISIS will also present at a couple of analyst conferences in early December that might offer more catalysts to keep the rally going. The big bounce from its 2014 lows has produced a huge buy signal on the Point & Figure chart that is projecting a long-term target of $73.00.

More aggressive investors may want to open bullish positions now. I am suggesting we wait for a rally past the November high ($53.12) and use a trigger to open positions at $53.25.

- Suggested Positions -

Long ISIS stock @ $53.25

- (or for more adventurous traders, try this option) -

Long 2015 Jan $55 call (ISIS150117C55) entry $3.15

11/25/14 triggered @ 53.25
Option Format: symbol-year-month-day-call-strike


Micron Technology - MU - close: 35.62 change: +0.82

Stop Loss: 32.45
Target(s): To Be Determined
Current Option Gain/Loss: + 1.5%
Entry on November 24 at $35.10
Listed on November 22, 2014
Time Frame: 8 to 12 weeks
Average Daily Volume = 24.8 million
New Positions: see below

Comments:
11/26/14: Semiconductor stocks were some of the market's best performers on Wednesday. The SOX index added +2.1% and shares of MU raced to a +2.3% gain. Today's breakout past resistance at $35.00 is a new entry point for bullish positions.

Earlier Comments: November 22, 2014:
MU is in the technology sector. The company is part of the semiconductor industry. They make memory chips. According to a company press release, "Micron Technology, Inc., is a global leader in advanced semiconductor systems. Micron's broad portfolio of high-performance memory technologies—including DRAM, NAND and NOR Flash—is the basis for solid state drives, modules, multichip packages and other system solutions. Backed by more than 35 years of technology leadership, Micron's memory solutions enable the world's most innovative computing, consumer, enterprise storage, networking, mobile, embedded and automotive applications."

The semiconductor space has been a strong performer this year with the SOX semiconductor index up +23.9% in 2014. That outperforms the NASDAQ's +12.8% and the S&P 500's +11.6% gain. MU is beating all of them with a +57.7% rally in 2014.

The company has been beating Wall Street's earnings and revenue estimates all year long. Their most recent report was MU's Q4 results that came out in September. Analysts expected a profit of $0.81 on revenues of $4.15 billion. MU delivered $0.82 as revenues soared +48.7% to $4.23 billion.

Management then raised their Q1 revenue guidance into the $4.45-4.70 billion range, which was above analysts' estimates. They also announced at $1 billion stock buy back program. Following its results and the buy back news the stock has seen several price target upgrades. Many brokers have price targets in the low to mid $40s. One firm has a $60 target.

Technically shares have been stuck under resistance in the $34.85 area since July. A rally past $35.00 would create a new buy signal on MU's point & figure chart. Tonight I am suggesting a trigger to open bullish positions at $35.10.

- Suggested Positions -

Long MU stock @ $35.10

- (or for more adventurous traders, try this option) -

Long 2015 Jan $35 call (MU150117C35) entry $2.01

11/24/14 triggered @ $35.10
Option Format: symbol-year-month-day-call-strike


Qlik Technologies - QLIK - close: $31.20 change: +0.10

Stop Loss: 29.85
Target(s): To Be Determined
Current Option Gain/Loss: Unopened
Entry on November -- at $---.--
Listed on November 25, 2014
Time Frame: 8 to 12 weeks
Average Daily Volume = 1.6 million
New Positions: Yes, see below

Comments:
11/26/14: Shares of QLIK did not see a lot of action ahead of the holiday. The stock traded sideways most of the session and eventually managed a +0.3% gain.

Our suggested entry point for bullish positions is $31.75.

Earlier Comments: November 25, 2014:
QLIK is in the technology sector. The company provides business intelligence software. According to a company press release, "Qlik is a leader in data discovery delivering intuitive solutions for self-service data visualization and guided analytics. Approximately 33,000 customers rely on Qlik solutions to gain meaning out of information from varied sources, exploring the hidden relationships within data that lead to insights that ignite good ideas. Headquartered in Radnor, Pennsylvania, Qlik has offices around the world with more than 1700 partners covering more than 100 countries."

It has been a very rocky road for QLIK investors the last couple of years. QLIK's stock peaked in mid 2013. Since then shares have seen big swings both up and down. Uneven earnings results and guidance have played their part. The last four quarters have seen QLIK beat Wall Street's bottom line estimate by a penny each quarter. Yet three out of the last four quarters QLIK management has lowered their guidance.

Their most recent earnings report was October 23rd. Analysts were looking for the company to breakeven ($0.00 a share) on revenues of $124 million. QLIK delivered $0.01 a share with revenues up +26% to $131.3 million. Then management guided lower on both EPS and revenues for the fourth quarter. So why did shares of QLIK soar higher the next day?

The answer is likely the company's license growth. QLIK is seeing sharp improvement in its license growth. The first quarter it was +2% growth. The second quarter saw that improve to +11%. Last quarter it was +24% year over year.

The stock has continued to gather bullish analyst opinions. Last week the stock received a price target upgrade to $37.00. This week Citigroup added QLIK to their focus list and upped their price target to $38. The point & figure chart is bullish and forecasting at $42 target.

The stock is volatile and therefore I am labeling this a higher-risk, more aggressive trade. Investors will want to consider limiting their position size or using the options to limit risk to the cost of their option.

Technically the recent breakout past $30.00 is bullish. Yet QLIK still has resistance near its 2014 Q1 highs in the $31.25-31.55 zone. Tonight I am suggesting a trigger to open small bullish positions at $31.75.

Trigger @ $31.75 *small positions, higher-risk trade*

- Suggested Positions -

Buy QLIK stock @ (trigger)

- (or for more adventurous traders, try this option) -

Buy the 2015 Jan $33 call (QLIK150117C33)

Option Format: symbol-year-month-day-call-strike


Seagate Technology - STX - close: 65.85 change: -0.14

Stop Loss: 62.45
Target(s): To Be Determined
Current Option Gain/Loss: - 1.0%
Entry on November 21 at $66.52
Listed on November 20, 2014
Time Frame: 8 to 12 weeks
Average Daily Volume = 2.7 million
New Positions: see below

Comments:
11/26/14: STX bounced off very short-term support at its simple 5-dma this morning. The stock faded back to this moving average by the closing bell. I would be tempted to open bullish positions on a dip at $65.00 but my preferred entry point at this time would be a breakout past $66.50.

Earlier Comments: November 20, 2014:
STX is in the technology sector. The company makes hard disk drives, solid-state drives, and additional computer memory and storage systems.

STX's main rival is Western Digital (WDC). The two have something of a duopoly on the global hard drive and storage business. STX has suffered a bit of a public relations problem when a study came out earlier this year that showed WDC's hard drives had a longer (average) life span than STX drives. The news has helped WDC steal some market share from STX but both companies are still seeing strong growth.

Back in July STX announced their Q4 results and guided higher for their Q1 (calendar Q3). The company's Q1 numbers were better than expected and above their July guidance thanks to big demand for their PC, gaming, and cloud storage products. Management noted they are definitely seeing better than expected momentum in their cloud-computing systems.

STX's most recent earnings report was October 27th. Wall Street expected a profit of $1.24 a share on revenues of $3.6 billion. STX beat both estimates with a profit f $1.34 a share and revenues of $3.79 billion. The EPS number was up +22% from the prior quarter and up +4% from a year ago. Revenues were up +8.5% from a year ago and up +15% against the prior quarter.

Management said they have confidence in their future cash flow generation which is why they raised their quarterly dividend from $0.42 to $0.54. STX's guidance for the current quarter is $3.7 billion in revenues, which is above Wall Street's estimate.

Technically shares have recovered from a brief November pullback and now the stock is hitting all-time highs. The point & figure chart is bullish and forecasting a long-term $94 target.

Today's breakout past resistance at $65.00 looks like a bullish entry point. I'd like to see just a little bit more confirmation. Tonight we are suggesting a trigger to open bullish positions at $65.75.

- Suggested Positions -

Long STX stock @ $66.52

- (or for more adventurous traders, try this option) -

Long 2015 Jan $65 call (STX150117c65) entry $3.10

11/21/14 trade opened on gap higher at $66.52, suggested trigger was $65.75
Option Format: symbol-year-month-day-call-strike


Take-Two Interactive - TTWO - close: 28.16 change: +0.28

Stop Loss: 25.85
Target(s): To Be Determined
Current Option Gain/Loss: + 2.7%
Entry on November 21 at $27.42
Listed on November 18, 2014
Time Frame: 8 to 12 weeks
Average Daily Volume = 1.6 million
New Positions: see below

Comments:
11/26/14: Traders bought the dip in TTWO this morning and shares rallied to a new multi-year high. Tonight I am raising the stop loss to $25.85.

Earlier Comments: November 18, 2014:
TTWO is considered part of the technology sector. The company makes video games. They're probably best known for their Grand Theft Auto franchise, L.A. Noire, and Red Dead Redemption.

According to the corporate website, "Headquartered in New York City, Take-Two Interactive Software, Inc. is a leading developer, publisher and marketer of interactive entertainment for consumers around the globe. The Company develops and publishes products through its two wholly-owned labels Rockstar Games and 2K. Our products are designed for console systems and personal computers, including smartphones and tablets, and are delivered through physical retail, digital download, online platforms and cloud streaming services."

If you read the Electronic Arts (EA) trade in the Premier Investor newsletter than you already know how big the video game market is and how fast it's growing. Unfortunately the earnings cycle for most video game companies has a lot of peaks and valleys. TTWO's latest earnings report on October 29th is a good example.

The company's Q3 2013 quarter was strong thanks to their record-breaking launch of the Grand Theft Auto V game. One year later revenues plunged -89% to $134.5 million in Q3 2014. That was still above Wall Street's estimate of only $111 million. TTWO said they lost $0.44 a share, which was 15 cents better than analyst expectations.

TTWO management then issued mixed guidance but most of it was bullish. The company expects their current quarter to see a profit in the $1.34-1.45 range compared to Wall Street's estimates of $1.20. Yet TTWO guided revenues below consensus estimates.

They also raised their 2015 guidance and expect profits in the $1.05-1.30 range compared to prior guidance in the $0.80-1.05 zone. TTWO also raised their revenue guidance but was less than Wall Street expected.

TTWO's results and guidance was good enough to spark a big rally in the stock. Likely due to the high amount of short interest. The most recent data listed short interest in TTWO at almost 20% of the 73.8 million share float. The fact that TTWO has not seen any correction following its post-earnings rally probably has bears in a panic.

TTWO has spent the last two weeks consolidating its gains in a sideways manner. Now it's breaking out from this trading range and hitting new 2014 highs. This move could spark more short covering.

Today's high was $27.19. I am suggesting a trigger to open bullish positions at $27.30.

- Suggested Positions -

Long TTWO stock @ $27.42

- (or for more adventurous traders, try this option) -

Long 2015 Jan $28 call (TTWO150117C28) entry $1.05

11/26/14 new stop @ 25.85
11/21/14 triggered on gap higher at $27.42, suggested entry was $27.30
Option Format: symbol-year-month-day-call-strike




BEARISH Play Updates


None. We do not have any active bearish trades.