Current Portfolio:


BULLISH Play Updates

Athenahealth, Inc. - ATHN - close 28.34 change -0.85 stop 26.90

Target(s): 28.75, 29.50, 31.50 (hit), 32.95, 34.00
Key Support/Resistance Areas: 34.25, 31.75, 30.00, 28.25, 25.75
Current Gain/Loss: -6.31%
Time Frame: 1 to 2 weeks
New Positions: No

Comments:
8/25: We are moving in the right direction with ATHN. Let's ee where this bounce takes the stock, however, the broader market is weak so readers may want to consider looking for an exit using the above targets.

8/24: The sell-off in ATHN continued today and we are getting very close to being stopped out. The stock closed below its upward trend line from the 7/22 lows today, while also closing below its 20-day and 100-day SMA's. The 50-day SMA is below our stop and it appears ATHN may visit this level near $26.00. The stock has retraced just about 50% of its gains from the 7/22 low and there is support at current levels, so this is a logical place for ATHN to bounce. However, the broader market is weak so readers may want to consider looking for an exit. $28.75 and 29.50 are intraday resistance levels and should be considered as areas to selling positions or tightening stops to protect capital.

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


The Andersons, Inc - ANDE - close 37.24 change +0.29 stop 34.45

Target(s): 38.90, 40.50, 41.50
Key Support/Resistance Areas: 41.50, 40.50, 39.20, 38.00, 35.50
Current Gain/Loss: +0.59%
Time Frame: 1 to 3 weeks
New Positions: Yes

Comments:
8/26: ANDE is hanging tough and if it breaks above $37.50 to $38.00 our targets should easily be reached.

8/24: ANDE surged +3.44% higher today on a very weak tape in the broader market. We are just about break-even on this trade but I urge readers to be cautious as ANDE can't buck the broader market trend forever. However, if the market bounces from here ANDE should head towards our first target of $38.90 (lowered 25 cents). I want to raise the stop up to $34.45 which is below the 50-day SMA and well below the recent congestion area and key resistance level of $35.50. This should protect us from a head fake lower and protect against a hard reversal.

Current Position: Long ANDE stock, entry was at $37.02

Options Traders: Buy December $40.00 Calls, current ask $2.10

Entry on August 19, 2010
Earnings 10/28/2010 (unconfirmed)
Average Daily Volume: 180,000
Listed on August 18, 2010


Newmont Mining Corp - NEM - close 58.74 change +1.62 stop 56.40

Target(s): 59.30 (hit), 59.85, 61.50
Key Support/Resistance Areas: 62.00, 59.50, 58.16, 55.00, 54.30, 52.30
Current Gain/Loss: +0.65%
Time Frame: Several weeks
New Positions: Yes

Comments:
8/26: NEM is heading back up towards our $59.30 target. I suggest not letting this reverse again. Protect profits.

8/25: NEM gapped lower but was immediately bought and closed well off of its lows. This is more of a defensive play that can do well in broader market weakness. I've adjusted the 2nd target and suggest we take profits this time if they are reached. $59.30 was hit last week and still remains a valid target.

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 49.77 change +0.74 stop 46.60

Target(s): 50.75, 51.75, 53.00, 54.40
Key Support/Resistance Areas: 57.50, 54.50, 53.40, 49.00
Current Gain/Loss: +1.16%
Time Frame: 1 to 2 weeks
New Positions: Yes

Comments:
8/25: OII gained +1.5% today and is heading towards our targets. My comments below remain unchanged.

8/24: OII is hanging tough and is maintaining its upward trend line from the 6/1 lows. Let's stick with the set-up and see if the stock bounces from here. I've added a lower target of $50.75 which will produce a small +3% gain if reached. Readers should consider tightening stops or taking profits as the targets 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


UltraShort Semiconductor ETF - SSG - close: 18.97 change: -0.16 stop: 18.40

Target(s): 22.00
Key Support/Resistance Areas: 22.00, 20.00, 19.00, 17.00
Current Gain/Loss: -3.65%
Time Frame: 4 to 6 weeks
New Positions: No

Comments:
NOTE: This is a bearish trade using a long position in an inverse ETF. Since we are bullish on the inverse ETF it is listed as a bullish trade.

8/25: Unfortunately, we were triggered at $19.65 as opposed to the pullback to $17.80. We have tight stop so if the Semi's bounce much more there is good chance we will get taken out. I like this ETF on weakness but will suggest stepping aside and possible entering at a lower price if our stop is hit.

8/24: SSG looks on the verge of breaking out and hitting our trigger to buy positions at $19.65. I think pullbacks in SSG can be bought as well so I would like to add a trigger of $17.80 to buy positions which is just above the 200-day SMA and upward trend line from the 7/27 lows. If triggered at $17.80 we'll use a stop loss at $16.45.

8/21: Semiconductor companies that supply materials to the smart phone market have been doing better than their peers that provide chips for the PC market. Yet the chip sector in general has been underperforming. The SOX index broke down under significant support a few days ago and looks ready to begin a new leg lower. I am suggesting we take advantage of this weakness with a bullish position on the SSG.

The plan is to buy the SSG when it breaks out past the July high and hits $19.65. Our multi-week target is $22.00. More nimble traders may want to cross their fingers and hope for a pull back toward $17.25-16.75 as an alternative entry point but if you do buy the dip I would use a relatively tight stop loss. FYI: This is a double, inverse ETF. Expect volatility!

Suggested Position: Long SSG stock/ETF if trades to $19.65 or $17.80

Entry on August XX
Earnings Date: N/A
Average Daily Volume: 178,000
Listed on August 21, 2010


BEARISH Play Updates

Automatic Data Processing - ADP - close: 38.93 change: +0.12 stop: 41.26

Target(s): 37.25, 36.50, 34.00
Key Support/Resistance Areas: 41.00, 39.00, 37.30
Current Gain/Loss: -0.46%
Time Frame: Several weeks
New Positions: Yes

Comments:
8/25: ADP continues to look vulnerable but we may need to be patient until the broader market is finished this bounce which should be short lived. There is plenty of overhead resistance.

8/24: We were triggered on our short entry in ADP at $38.75. This is the lowest close since 10/8 and the stock looks vulnerable. I've added $37.25 as a first target because it is near a long term upward trend line and prior swing low from 9/3/09.

8/21: Our new bearish play on ADP was almost triggered Friday. Shares dipped to $39.10. I am suggesting readers use a trigger to open bearish positions at $38.75. There are no changes from my Thursday comments.

Is it possible that businesses are cutting back on bookkeeping as they reduce the number of employees? For whatever reason shares of ADP are losing ground. In late July, at the company's latest earnings report, management lowered their guidance. Now the stock is trading near the bottom of its $39-42 range. If you check out the weekly chart you can see ADP's bearish H&S pattern.

I am suggesting a trigger to open bearish positions at $38.75. If triggered our first target is $36.00. Our second target is $34.00. Use a stop at $41.26.

Current Positions: Short ADP stock, entry was at $38.75

Option Traders: Long November $37.00 puts

Entry on August 24, 2010
Earnings Date 10/28/10 (unconfirmed)
Average Daily Volume: 3.2 million
Listed on August 19, 2010


Chesapeake Energy - CHK - close 20.04 change -0.19 stop 22.10

Target(s): 19.70 (hit), 18.80, 18.05
Key Support/Resistance Areas: 22.50, 21.60, 20.30, 19.65, 18.75, 18.00
Current Gain/Loss: +3.70% Time Frame: 1 to 2 weeks
New Positions: Yes

Comments:
8/25: CHK traded right down to its 52-week low which was the target I suggested taking profits at last night. CHK still looks weak but I believe the stock may bounce here with the broader market. If things turn back down CHK should break these levels.

8/24: CHK lost -1.70% and today and is close to printing new 52-week. Our first target is just above those 52-week lows at $19.70. If CHK get there we will have +5% gains in the trade. I suggest taking profits at this level or tightening stops to protect them.

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: 27.18 change: -0.34 stop: 31.55

Target(s): 28.25, 26.75, 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 29.20

Comments:
8/25: My comments remain the same from below. Let's see if CNW gives us an entry on a bounce in the coming days.

8/24: CNW managed to gain +1.33% to close at $27.52. This stock is shortable on strength but we are still waiting on our trigger. The plan is to initiate bearish positions if CNW can bounce to $29.20. The stock is still very oversold with its recent decline from $35.00. A normal 38.2% Fibonacci retracement and the declining 20-day SMA are near $29.80. If the stock can manage to bounce to $29.20 I would be short seller.

Suggested Position: Short CNW stock if it trades to $29.20

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


HNSI, Inc - HNSI - close 27.24 change +0.66 stop 29.11

Target(s): 25.05, 23.50, 22.25
Key Support/Resistance Areas: 28.90, 27.25, 25.80, 200-SMA, 23.50, 22.00
Time Frame: 1 to 2 weeks

Comments:
8/25: HSNI hit our target on the late day rally so we are short the stock. I believe this rally will be short lived and the stock should turn back lower in the coming days. My comments from the play release are below.

8/24: Retailers are weak and HSNI looks like it is headed to test its 200-day SMA and possibly its recent swing lows. The stock has made a great comeback off of its 2009 lows but the selling has picked back up in recent weeks. The stock lost -5.3% today on strong volume and I expect it to continue if the broader market cooperates. I would like to see a retracement of some of today's gains to initiate short positions but if the stock breaks down I also suggest initiating short positions. Let's use triggers on a bounce to $27.20 or a breakdown to $25.69. More nimble traders can initiate positions now. We'll keep a tight stop at $29.11 which is above the downtrend line and Monday's high. If we get filled at $27.20 our first target is nearly 8% lower and above the 200-day SMA. HSNI closed below its 20, 50, and 100 day SMA's today.

Current Position: Short HSNI stock, entry was at $27.20

Options Traders: Long October $25.00 PUTS

Entry on August xx
Earnings: 11/11/2010 (unconfirmed)
Average Daily Volume: 495,000
Listed on August24, 2010


Starbucks Corp. - SBUX - close: 24.04 change: -0.46 stop: 25.05

Target(s): 22.10, 21.30, 20.00
Key Support/Resistance Areas: 25.00, 23.50, 22.00, 21.00, 20.00
Current Gain/Loss: -0.17%
Time Frame: Several weeks
New Positions: Yes

Comments:
8/25: The rally in SBUX may have been short covering today and the stock could fill the gap down from yesterday before the selling resumes. There is plenty of overhead resistance to keep bounces in check.

8/24: We were triggered in SBUX at the open this morning and the stock sold off the remainder of the day. I've adjusted our targets and suggest readers begin to tighten stops or take profits as they are reached.

8/21: There is no change from my Thursday comments. SBUX is still consolidating sideways but the path of least resistance is down. Entry point to open bearish positions is at $23.40.

The rally in shares of SBUX appears to have cooled off. It isn't surprising with more and more signs of the economy slowing down, consumers cutting back and saving more. SBUX's latest earnings report was ho-hum. Profits were inline but what impressed was the better than expected revenues. Unfortunately, management guided 2010 inline with prior estimates and guided 2011 lower.

Shares of SBUX are now testing support near $23.50 and its 200-dma. It looks like the stock is ready to break. The weekly chart shows a bearish head-and-shoulders pattern. I am suggesting we wait for a drop under the early July lows. Therefore our entry point to open bearish positions is $23.40. Our target is the $21.00 and 20.00 levels. More nimble traders could try an alternative entry point with another failed rally near $25.00.

Current Position: Short SBUX stock, entry was at $23.30

Options Traders: Long October $23.00 puts

Entry on August 24, 2010
Earnings Date 11/04/10 (unconfirmed)
Average Daily Volume: 8.0 million
Listed on August 19, 2010


SPDR Retail ETF - XRT - close 36.98 change +0.61 stop 38.62

Target(s): 36.00, 35.25, 34.65
Key Support/Resistance Areas: 39.00, 38.00, 37.60, 36.50, 35.80, 35.00
Current Gain/Loss: +1.44%
Time Frame: 1 to 2 weeks
New Positions: Yes

Comments:
8/25: XRT printed a bullish engulfing candlestick today and closed the gap lower from yesterday. In this case I believe the selling will resume. My comments from below remain the same.

8/24: XRT hit our first target of $36.00 this morning and bounced. I see no reason the ETF won't trade down to its July lows which are just below our second target of $35.25. Let's move our stop down to $38.62.

Current Position: Short XRT stock, entry was at $37.52

Options Traders: Long September $36.00 PUTS

Entry on August 17, 2010
Earnings: 11/2/2010 (unconfirmed)
Average Daily Volume: 12 million
Listed on August 16, 2010