Editor's Note:
Fears of a meltdown at Japanese nuclear energy plants sparked a wave of selling across the globe. We had several stocks gap open lower, under our stop losses.

-James

Current Portfolio:


BULLISH Play Updates

ACI Worldwide Inc. - ACIW - close: 29.96 change: -0.48

Stop Loss: 27.80
Target(s): 33.00, 34.75
Current Gain/Loss: + 1.1%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/15 update: ACIW gapped open lower at the open but shares immediately rebounded and closed the session with a -1.5% loss. The short-term trend is down and we are seeing some technical sell signals. I would expect a correction toward the $29.50-28.50 zone. If you don't want to endure that decline then exit now to avoid or minimize any losses. I am not suggesting new positions at this time. Our bullish targets are $33.00 and $34.75.

FYI: ACIW does have options but the spreads are very wide, which puts us at a significant disadvantage.

SMALL bullish positions

Current Position: Long ACIW stock @ $29.63

Entry on February 25 at $29.63
Earnings Date 04/28/11 (unconfirmed)
Average Daily Volume: 122 thousand
Listed on February 24th, 2010


Baxter Intl. - BAX - close: 51.24 change: -0.89

Stop Loss: 50.75
Target(s): 54.90, 57.50
Current Gain/Loss: - 1.4%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/15 update: The market's widespread weakness and big drop at the open was enough for BAX to gap open lower. Shares fell toward support near the small cloud of moving averages near the $51 area. BAX hit an intraday low of $50.87 but we had just moved our stop loss to $50.75 so the play is still open. The $52.00 level is now short-term overhead resistance but I would still consider opening bullish positions now or on a bounce from current levels.

The plan was to keep our position size small to limit our risk. FYI: The Point & Figure chart for BAX is bullish with a $73 target.

(small positions only)

Current Position: Long BAX stock @ 52.00

- or -

Long the May $55 call (BAX1121E55) Entry @ $1.05

03/14 Adjust stop back to $50.75
03/05 New stop loss @ 50.90

Entry on February 22 at $52.00
Earnings Date 04/21/11 (unconfirmed)
Average Daily Volume: 5.8 million
Listed on February 19th, 2010


Gildan Activewear - GIL - close: 30.96 change: -0.39

Stop Loss: 28.99
Target(s): 34.85, 38.00
Current Gain/Loss: + 2.0%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/15 update: GIL looks pretty healthy compared to the rest of the market. The weakness this morning did not touch $30 or breakdown to new lows. While I remain cautious the action today is encouraging. More conservative traders might want to raise their stops toward the $29.50 or $29.90 levels to reduce their risks. Currently our stop is at $28.99.

Current Position: long GIL stock @ 30.35

- or -

Long the April $30 call (GIL1116D30) Entry @ $1.60

03/08 Triggered $ 30.35
03/01 Adjusted buy-the-dip trigger to $30.35
03/01 Adjusted stop loss to $28.99

Entry on March 8 at $30.35
Earnings Date 05/12/11 (unconfirmed)
Average Daily Volume: 634 thousand
Listed on February 28th, 2010


Jos. A Bank Clothiers Inc. - JOSB - close: 46.66 change: +0.50

Stop Loss: 44.75
Target(s): 49.85, 52.25
Current Gain/Loss: + 1.4%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
03/15 update: Support near $45.00 held today. JOSB spiked down to $45.00 and bounced. Shares actually posted a gain on the session. The fact that support held is encouraging but I am not suggesting new positions at this time.

FYI: The most recent data listed short interest at almost 25% of JOSB's 27.3 million-share float. There is definitely room for some short covering here. Plus, the Point & Figure chart for JOSB is bullish with a $62 target.

- Small Bullish Positions -

Current Position: Long JOSB stock @ $45.99

- or -

Long the April $50 calls (JOSB1116D50) Entry @ $0.95

Entry on March 7 at $45.99
Earnings Date 03/30/11 (unconfirmed)
Average Daily Volume: 355 thousand
Listed on March 5th, 2010


NVIDIA Corp. - NVDA - close: 17.66 change: -0.54

Stop Loss: 16.85
Target(s): 19.95, 21.75
Current Gain/Loss: - 2.9%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
03/15 update: Shares of NVDA followed the NASDAQ lower. Shares of this chip stock gapped open at $17.31 and managed an intraday bounce at $17.01. Unfortunately the rebound stalled under the $18.00 level and its 100-dma. I would wait for a move over $18.25 before considering new bullish positions. Keep in mind that this is a very speculative, higher-risk trade.

Our upside targets to take profits are at $19.95 and $21.75. Remember to keep your positions small to limit your risk.

- small bullish positions -

Current Position: long NVDA stock @ $18.19

- or -

Long the April $20 calls (NVDA1116D20) Entry @ $0.72

Entry on March 14 at $18.19
Earnings Date 05/12/11 (unconfirmed)
Average Daily Volume: 35 million
Listed on March 12th, 2010


BEARISH Play Updates

Overseas Shipholding Group - OSG - close: 31.62 change: -0.93

Stop Loss: 34.25
Target(s): 27.75, 25.25
Current Gain/Loss: + 1.8%
Time Frame: 8 to 9 weeks
New Positions: see below

Comments:
03/15 update: OSG tagged a new relative low at $31.24 this morning. That path of least resistance still appears to be lower. More conservative traders may want to lower their stops.

Our plan was to use small positions to limit our risk. We can add to our position when OSG breaks down under $31.40. The P&F chart is forecasting a $25 target. I am suggesting we set our exit targets at $27.75 and $25.25.

- Small Bearish Positions -

Current Position: Short OSG stock @ $32.20

- or -

Long the April $30 PUTS (OSG1116P30) Entry @ $0.75

Entry on March 11 at $32.20
Earnings Date 05/04/11 (unconfirmed)
Average Daily Volume: 705 thousand
Listed on March 10th, 2010


CLOSED BULLISH PLAYS

Bristol Myers Squibb - BMY - close: 25.57 change: -0.63

Stop Loss: 25.75
Target(s): 27.75
Current Gain/Loss: - 1.4%
Time Frame: 6 to 9 weeks
New Positions: see below

Comments:
03/15 update: Drug stocks were not much of a safe haven today. The DRG drug index fell -1.5%. To make matters worse BMY underperformed its peers with a -2.4% decline. Furthermore, shares of BMY failed to see the same intraday bounce common in the market today. Our trade has been stopped out at $25.75 shortly after the opening gap down at $25.78.

Closed Position: Long BMY stock @ $26.14, Exit @ 25.75 (-1.49%)

- or -

June $26 calls (BMY1118F26) Entry @ $1.10, Exit @ $1.00 (-9%)

03/15 Stopped out. Exit -1.4%, Option @ -9%

chart:

Entry on March 14 at $26.14
Earnings Date 04/28/11 (unconfirmed)
Average Daily Volume: 13 million
Listed on March 12th, 2010


Boston Scientific Corp. - BSX - close: 7.08 change: -0.22

Stop Loss: 7.19
Target(s): 7.80, 8.90
Current Gain/Loss: - 1.9%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/15 update: BSX gapped open lower at $7.08, which is below our stop loss at $7.19. The trade was closed immediately. BSX is now trying to hold on to technical support at its exponential 200-dma (near $6.95).

Prior Comments:
The plan is to keep our position size small to limit our risk.

- (Small Positions to Limit our Risk)

Closed Position: Long BSX stock @ 7.22, Exit @ 7.08 (-1.9%)

- or -

April $7.00 calls (BSX1116D7) Entry @ $0.44, Exit @ 0.42 (-4.5%)

03/15 Stopped out, gap down @ $7.08 (-1.9%), Option @ -4.5%
03/09 New stop loss @ 7.19
03/09 1st Target Hit (+8.0%), Option @ $0.88 (+100%)

chart:

Entry on February 28 at $ 7.22
Earnings Date 04/26/11 (unconfirmed)
Average Daily Volume: 16 million
Listed on February 26th, 2010


Lincare Holdings Inc. - LNCR - close: 29.38 change: -0.11

Stop Loss: 28.75
Target(s): 29.90, 31.50
Current Gain/Loss: + 1.3%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/15 update: The market saw indiscriminate selling this morning and shares of LNCR opened lower and hit our stop at $28.75. Actually that happened to be the low for the day.

- Small Bullish Positions -

Closed Position: Long LNCR stock @ 28.37, Exit @ 28.75 (+1.3%)

- or -

March $29.00 calls (LNCR1119C29) Entry @ $0.75, Exit @ $0.60 (-20%)

03/15 Stopped out @ 28.75 (+1.3%), Option @ -20%
03/09 New stop loss @ 28.75
03/05 New stop loss @ 28.45, Adjusted target to $31.50
03/01 The exit number below is updated for Tuesday's open
02/28 Sell Half to lock in a gain. LNCR @ $29.52 (+4.0%)
02/28 Sell Half: March $29 calls bid $0.85 (+13.3%)
02/22 New stop loss @ 27.95
02/19 New stop loss @ 27.45
02/12 Adjusted entry point to current levels.

chart:

Entry on February 14 at $28.37
Earnings Date 04/19/11 (unconfirmed)
Average Daily Volume: 932 thousand
Listed on February 9th, 2010


Omnicom Group Inc. - OMC - close: 47.47 change: -0.89

Stop Loss: 47.65
Target(s): 54.00
Current Gain/Loss: -5.9%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/15 update: OMC gapped open lower under support near $48 and its 50-dma. Shares opened at $47.07, which was under our stop loss at $47.65.

Closed Position: Long OMC stock @ $50.04, Exit @ 47.07 (-5.9%)

- or -

April $50 calls (OMC1116D50) Entry @ $1.65, Exit @ 0.40 (-75.7%)

03/15 Stopped out/gap down. OMC -5.9%, Option @ -75%

chart:

Entry on February 28 at $50.04
Earnings Date 04/20/11 (unconfirmed)
Average Daily Volume: 2.8 million
Listed on February 26th, 2010


Signet Jewelers Limited - SIG - close: 42.60 change: -0.62

Stop Loss: 42.65
Target(s): 49.75
Current Gain/Loss: - 9.7%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/15 update: Ouch! It was an ugly morning for SIG. The stock had been consolidating near support in the $43 area. Unfortunately, shares gapped open significantly lower, at $40.83 on Tuesday. The stock did bounce back quickly but it was too late. Our stop was $42.65 but the open at $40.83 produced a significantly worse exit for us.

Closed Position: Long SIG stock @ $45.25, Exit @ 40.83 (-9.7%)

- or -

March $45 calls (SIG1119C45) Entry @ $1.85, Exit @ 0.00? (-100%)

03/15 Stopped out, gap down -9.7%, option @ -100%
there was no bid for the option this morning.
02/28 New stop loss @ 42.65
02/28 Consider scaling back positions here.

chart:

Entry on February 18 at $45.25
Earnings Date 03/30/11 (unconfirmed)
Average Daily Volume: 436 thousand
Listed on February 16th, 2010


Wyndham Worldwide - WYN - close: 30.40 change: -0.39

Stop Loss: 29.90
Target(s): 34.50, 37.50
Current Gain/Loss: - 5.4%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/15 update: WYN is another stock that gapped open lower, under our stop loss, immediately closing our play. The stock managed to bounce back above the $30.00 mark and its 100-dma. Our play was closed at the open of $29.73.

Closed Position: Long WYN stock @ $31.45, Exit @ 29.73 (-

- or -

April $32 calls (WYN1116D32) Entry @ $1.15, Exit @ 0.40 ?(-65.2%)

03/15 Stopped out, gap lower, WYN -5.4%, Option @ -65%
The exit price on the option is an estimate. The option did not trade today.

chart:

Entry on February 28 at $31.45
Earnings Date 04/28/11 (unconfirmed)
Average Daily Volume: 3.2 million
Listed on February 26th, 2010