Current Portfolio:


BULLISH Play Updates

Athenahealth, Inc. - ATHN - close 31.13 change +1.67 stop 25.50

Target(s): 31.50, 33.25, 34.00
Key Support/Resistance Areas: 34.25, 31.75, 30.00, 28.25, 25.75
Current Gain/Loss: +2.91%
Time Frame: 1 to 2 weeks
New Positions: Yes, preferably on weakness

Comments:
8/16: ATHN had a huge day closing +5.67% on the day. The stock was having a fabulous day and this afternoon the company received an upgrade which helped add to the gains. Our lower target to enter positions was missed by 37 cents so positions were entered on strength at $30.25. ATHN is finding a little resistance at $31.50 which is just below the July 2009 lows. There could be a pullback here which will provide a second chance entry point. If we break above today's highs ATHN has some clear air up towards our more aggressive targets. I've added $33.25 as our second target.

8/14: ATHN is in the business of automating health care records and billing. I like ATHN as a long defensive play that should thrive as healthcare regulation takes form. Technically ATHN had a huge gap down after they missed earnings estimates in late April. Since then the stock has formed a nice cup and handle pattern which signals the "changing of the guard" from sellers to buyers. The company reported earnings in late July that beat estimates and the stock is now gaining momentum. On Friday, ATHN closed right on a downward trend line from January but I think it is only a matter of time before this is broken, which is typical of a cup and handle formation. Ideally, I suggest traders initiate long positions on any weakness, but a break out is another strategy. Let's use $28.50 as a trigger on weakness and $30.25 as a trigger on strength. ATHN has a big gap to fill all the way up near $34.00 which is our most aggressive target. Our near term target is $31.50. Our initial stop is $25.50 which is below its upward trend line and the rising 20-day SMA.

Current Position: Long ATHN stock, entry was at $30.25

Options Traders: Long September $31.00 CALL

Entry on August 16, 2010
Earnings 10/28/2010 (unconfirmed)
Average Daily Volume: 767,000
Listed on August 14, 2010


Intrepid Potash - IPI - close 23.96 change +0.41 stop 22.25

Target(s): 25.35, 26.30, 27.20
Key Support/Resistance Areas: 27.40, 26.50, 24.45, 22.65
Current Gain/Loss: +1.14%
Time Frame: 1 to 2 weeks
New Positions: Yes

Comments:
8/16: IPI gained +1.74% today and closed above its 20-day SMA. We need the stock to break above $24.45 which Thursday's high and 100-day SAM. This get things moving towards our targets and produce a winning a trade.

8/14: We caught a break with IPI as it gapped lower on Friday enabling us to get a good fill. The stock traded within yesterday's range so there is not much to report. I'm looking for this stock to bounce this week and suggest tightening stops on the way up to protect profits.

8/12: The agriculture market is heating up, literally. Heat waves and fires are causing a shortage of agriculture commodities and it is causing prices to spike. Farmers want and need to grow more crops and they need fertilizers to do it. So we are back with a play in IPI which was a dropped play a few weeks ago because we did not get triggered. Technically IPI has retraced about 50% of the +35% spike off of its 52 week low that was printed on 7/1. Today the stock bounced hard just above its 50-day SMA, gaining +4% and printing a bullish engulfing candlestick in the process. This appears to be the higher low that will lead to new highs. I suggest we use one of two triggers to enter positions which should happen tomorrow. If IPI trades to $24.42 (above today's high) or on any weakness to $23.90. The stock is up 23 cents in the after hours so we may get filled at the higher price. Regardless, the momentum is building and I think IPI will re-test its recent highs or print new highs. I've offered a near term target for readers looking for a quicker exit but I'm ultimately looking for the stock to head up to $26 to $27.

Suggested Position: Long IPI stock, entry was at $23.69

Options Traders: Long September $25.00 CALL

Entry on August 13, 2010
Earnings 11/4/2010 (unconfirmed)
Average Daily Volume: 937,000
Listed on August 12, 2010


Newmont Mining Corp - NEM - close 57.71 change +0.99 stop 52.20

Target(s): 59.30, 60.50, 61.50
Key Support/Resistance Areas: 62.00, 59.50, 58.16, 55.00, 54.30, 52.30
Current Gain/Loss: +1.69%
Time Frame: Several weeks
New Positions: Yes

Comments:
8/16: NEM gained +1.75% and is consolidating above its 100-day SMA and below its 50-day SMA's. We need a break above Thursday's high and the 50-day SMA to get NEM moving towards our targets. I am expecting strength in the broader market which should help our cause.

8/14: We are in NEM at $56.75 per last night's updates. The stock is consolidating below its 50-day SMA and any broader market strength or strength in gold should catapult NEM up towards our targets.

8/12: NEM gapped higher this morning and closed +3% on the day. The broader market gapped lower and couldn't get into positive territory. This confirms my thoughts that gold miners and gold are back as a defensive play that should do well in this environment. Unfortunately it doesn't appear we are going to filled at our ideal price but I suggest we take advantage of any weakness in the coming days. On the hourly chart NEM has an upward trend line near the $56.50 level which will be hit on Tuesday into Wednesday. This is also near a prior resistance level from last week and near today's opening print. Let's use a trigger of $56.75 to enter long positions. I think we'll get filled and if we are patient and it should pay off.

8/11: NEM is approaching a long term upward trend line that began with its November 2008 lows to February 2009. The stock has also broken out above a key pivot level in the $55 to $56 area dating back to 2007. NEM has now turned back to test the pivot level and I suggest we take advantage of the weakness. In addition, if the Fed is going to monetize the country's debt then gold and gold miners should do well and act as a defensive play. I looking for NEM to reverse to the $55.05 to $54.40 level. We will use $54.40 as a trigger to enter long positions but aggressive traders may consider $55.05. Our stop will be $52.20 which is below the 200-day SMA and the long term upward trend line. I am looking for NEM to bounce up to possibly retest its YTD highs.

Current Position: Long NEM stock, entry was at $56.75

Entry on August 13, 2010
Earnings 11/3/2010 (unconfirmed)
Average Daily Volume: 7.7 million
Listed on August 10, 2010


Oceaneering International - OII - close 49.65 change +0.17 stop 46.60

Target(s): 53.00, 54.40, 57.00
Key Support/Resistance Areas: 57.50, 54.50, 53.40, 49.00
Current Gain/Loss: +0.91%
Time Frame: 1 to 2 weeks
New Positions: Yes

Why We Like It:
8/16: Long positions in OII were initiated at the open at $49.20. The stock finished the day strong closing +0.34% higher. We need OII to break above its 20-day SMA at $50.19 and the stock should re-test its recent swing high just above our first target of $53.00.

8/14: With the recent oil leak in the Gulf of Mexico the oil services industry is being turned upside down with regulations and drilling moratoriums. I think OII will benefit because the new rules in the gulf point to more underwater robotic contracts. And it just so happens that OII recently raised their guidance because of it. This past week's dip has come right into an upward trend line and a prior resistance level which should now act as support. This is a buying opportunity in OII. I suggest readers enter long positions now. Our stop is $46.60 which is below OII's recent swing low and its rising 50-day SMA. We have three realistic near term targets that will produce a winning nice trade if they are reached.

Current Position: Long OII stock, entry was at $49.20

Options Traders: Long September $50.00 CALL

Entry on August 16, 2010
Earnings 10/28/10 (unconfirmed)
Average Daily Volume: 807,000
Listed on August 14, 2010


BEARISH Play Updates

Chesapeake Energy - CHK - close 20.93 change +0.15 stop 22.85

Target(s): 19.70, 18.80, 18.05
Key Support/Resistance Areas: 22.50, 21.60, 20.30, 19.65, 18.75, 18.00
Current Gain/Loss: -0.58% Time Frame: 1 to 2 weeks
New Positions: Yes

Comments:
8/16: We are short CHK as of the open at $20.81. CHK looks vulnerable but the stock could bounce with the market so we may need to exhibit some patience. CHK has trend lines, moving averages, and resistance levels overhead to keep bounces in check. My comments from below have not changed.

8/14: CHK is a good company but it is facing significant headwinds. There is increasing pressure to ban drilling in the Marcellus shale. Pennsylvania is considering a year long moratorium so they can study fracturing problems and its impact on drinking water. If the process is halted in the Marcellus shale then it will probably be halted in the Haynesville and Barnett shale plays, which are the primary assets of CHK. Technically, CHK looks like it is about ready to lose it. The stock is trading in a wide downward channel and on Friday it closed below an upward trend line. It would be nice to short CHK on a bounce but I'm not sure it will happen. I suggest we initiate short positions now. Our most aggressive target right now is to test the July 2009 lows near $18.05. Our stop is $22.85 which is above the recent swing high and several moving averages.

Current Position: Short CHK stock, entry was at $20.81

Options Traders: Long October $20.00 PUTS

Entry on August 16, 2010
Earnings: 11/2/2010 (unconfirmed)
Average Daily Volume: 10 million
Listed on August 14, 2010


Con-way Inc. - CNW - close: 26.72 change: +0.02 stop: 34.05

Target(s): 28.75, 28.25, 25.50
Key Support/Resistance Areas: 25.00, 28.00, 32.00
Current Gain/Loss: N/A
Time Frame: Several Weeks
New Positions: Yes, trigger 29.80

Comments:
8/16: CNW can't seem to catch a bid. I suggest we remain patient here and see if CNW bounces with the market up to our trigger to enter short positions at $29.80. My comments from below have not changed.

8/14: The sellers are obviously overwhelming the buyers in CNW and the stock has run away from us, closing -4.30% on Friday. I do not suggest chasing it down here. I am going to leave this play open and see if CNW manages to bounce back up to fill some of these recent gaps. I'm going to lower the trigger to $29.80. If anyone caught it short it has been a good play, but unfortunately our trigger wasn't hit.

8/12: CNW gapped down below the $28.00 support I mentioned yesterday and then rallied right up to it, closing +3% off of its lows. The break of support was probably a head fake so I expect CNW to bounce a little further here. I suggest we be patient and keep our trigger at $29.95 to enter short positions.

Suggested Position: Short CNW stock if it trades to $29.80

Entry on August xx
Earnings Date 11/03/10 (unconfirmed)
Average Daily Volume: 1.0 million
Listed on August 7, 2010