Editor's Note:
Our new trades from this weekend are not open yet. We're making some adjustments for the Tuesday morning weakness.

Meanwhile AVP, DIG and SLX were stopped out. I'm reloading DIG and SLX as new trades tonight.

-James

Current Portfolio:


BULLISH Play Updates

Bon-Ton Stores Inc. - BONT - close: 6.26 change: -0.22

Stop Loss: 5.85
Target(s): 7.50, 8.25
Current Gain/Loss: unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see below

Comments:
09/06 update: Our trade in BONT is not open yet. The market's weakness and BONT's gap open lower canceled our entry point strategy. I am suggesting we try again. The stock held support near $6.00 and traders were buying the dip late this afternoon.

Keep in mind that BONT could see a big short squeeze if the market bounces. The most recent data listed short interest at almost 40% of the very, very small 10 million share float.

I am suggesting we launch small bullish positions now but only if BONT and the S&P500 index both open positive tomorrow morning. If triggered we'll use a stop loss at $5.85. More aggressive traders may want to put their stop loss under the August 8th low of $5.59.

Our first target is $7.50. The second target is $8.25.

*Entry Details in Trade Description Above*

Suggested Position: buy BONT stock @ at the open

Entry on September xx at $ xx.xx
Earnings Date 11/17/11 (unconfirmed)
Average Daily Volume = 311 thousand
Listed on September 3, 2011


Giant Interactive Group Inc. - GA - close: 7.62 change: -0.14

Stop Loss: 7.55
Target(s): 9.30
Current Gain/Loss: -9.9%
2nd position Gain/Loss: -3.7%
Time Frame: exit on Sep. 9th or earlier
New Positions: see below

Comments:
09/06 update: Wow! It doesn't get any closer than this. GA gapped open lower with the market this morning at $7.67. Selling pressure pushed GA down to $7.56 before a meager bounce off its lows. Our stop loss happens to be $7.55. Our trade is still open. Aggressive, nimble traders may want to buy this stock now but bear in mind we are exiting on Friday (if not stopped out by then).

Earlier Comments:
GA does have a big dividend ($3.00) coming up. The shareholder record date is August 31st while the stock will begin trading ex-dividend (-$3.00) on September 12th. We will plan on exiting in front of that ex-dividend date.

Readers should consider this a higher-risk, more aggressive trade. We want to keep our position size small to limit our risk.

Current Position: Long GA stock @ $8.46

- or -

Long SEP $7.50 call (GA1117I7.5) Entry $0.95

- Add 2nd position - entry on 08/24/11

Second Position (small): Long GA stock @ 7.92

Long SEP $7.50 call (GA1117I7.5) Entry $0.65

09/06 intraday low of $7.56
08/23 new stop loss @ 7.55
08/23 adding a 2nd position
08/20 new stop loss @ 7.38

Entry on August 15 at $ 8.46
Earnings Date 11/16/11 (unconfirmed)
Average Daily Volume = 1.3 million
Listed on August 13, 2011


MAKO Surgical Corp. - MAKO - close: 37.64 change: +0.74

Stop Loss: 33.95
Target(s): 39.75, 44.00
Current Gain/Loss: unopened
Time Frame: 4 to 10 weeks
New Positions: Yes, see below

Comments:
09/06 update: Our new trade on MAKO is not open yet. The stock gapped open lower negating our entry point strategy. Yet the stock failed to break support near $35.00 and shares bounced to a +2% gain by the close. I am suggesting we try again.

Open bullish positions now but only if MAKO and the S&P 500 index both open positive tomorrow morning. We will up our stop loss to $34.85. I'm adjusting our exit targets to $39.90 and $43.75.

Keep in mind that MAKO could see a short squeeze. The most recent data listed short interest at more than 26% of the small 31.7 million-share float.

FYI: The Point & Figure chart for MAKO is bullish with a $54 target.

*Entry Details in Trade Description Above*

SMALL POSITIONS

Suggested Position: buy MAKO stock @ open

- or -

buy the OCT $40 call (MAKO1122J40) current ask $2.65

Entry on September xx at $ xx.xx
Earnings Date 11/02/11 (unconfirmed)
Average Daily Volume = 1.3 million
Listed on September 3, 2011


Peet's Coffee & Tea - PEET - close: 56.00 change: +0.65

Stop Loss: 53.50
Target(s): 62.00
Current Gain/Loss: -1.1%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
09/06 update: PEET gapped open lower on the widespread market weakness but shares held support near the rising 100-dma. Today's low was $53.63. I am suggesting we use this intraday rebound as a new bullish entry point to launch positions. We will raise our stop loss to $53.50.

Earlier Comments:
There is a good chance that PEET could see another short squeeze. The most recent data listed short interest at 23.7% of the very small 12.6 million-share float. I would keep our position size small. We are not trading the options. The spreads are too wide.

Current Position: Long PEET stock @ $56.64

09/06 intraday bounce from 100-dma is a new bullish entry point.
09/06 new stop loss @ $53.50

Entry on August 29 at $56.64
Earnings Date 11/02/11 (unconfirmed)
Average Daily Volume = 268 thousand
Listed on August 27, 2011


Research In Motion - RIMM - close: 30.97 change: +0.85

Stop Loss: 28.90
Target(s): 34.75
Current Gain/Loss: unopened
Time Frame: exit before Sep. 15th
New Positions: Yes, see below

Comments:
09/06 update: Our trade in RIMM is not open yet. The market's big drop at the open canceled our entry point. RIMM gapped down at $29.26 but rallied off the $29.00 level to close up +2.8%. This looks like a short-term bullish reversal.

I am suggesting we try again. We want to launch small bullish positions now but only if RIMM and the S&P 500 index both open positive tomorrow morning. We'll use a stop loss at $28.90. Our first target is $34.75 (or the 100-dma).

NOTE: We do not want to hold over the Sep. 15th earnings report.

*Entry Details in Trade Description Above*

Suggested Position: buy RIMM stock @ open

- or -

buy the OCT $33 call (RIMM1122J33)

09/06 trade not open yet. try again. New stop @ 28.90

Entry on September xx at $ xx.xx
Earnings Date 09/15/11 (confirmed)
Average Daily Volume = 26.9 million
Listed on September 3, 2011


WABCO Holdings - WBC - close: 45.25 change: -2.12

Stop Loss: 43.40
Target(s): 49.50, 54.00
Current Option Gain/Loss: Unopened
Time Frame: 4 to 8 weeks
New Positions: Yes, see below

Comments:
09/06 update: Our new WBC trade is not open yet. Like most of the market WBC gapped open lower today, which canceled our entry point. The stock opened at $45.28 and dipped to $43.52 before paring its losses. I am suggesting we take advantage of the pull back and try again.

I am suggesting small bullish positions now but only if WBC and the S&P 500 index both open positive tomorrow. We'll start with a new stop loss at $43.40, just under today's low. Our targets are $49.50 and $54.00.

*See Entry Details in Play Description*

- Suggested Positions -

Suggested Position: buy WBC stock @ open

09/06 trade not open yet. Try again. New stop loss 43.40. new targets 49.50 and 54.00

Entry on September xx at $ xx.xx
Earnings Date 10/27/11 (unconfirmed)
Average Daily Volume = 900 thousand
Listed on September 3, 2011


BEARISH Play Updates

None. No bearish plays currently.


CLOSED BULLISH PLAYS

Avon Products Inc. - AVP - close: 21.24 change: -0.24

Stop Loss: 21.40
Target(s): 23.50, 24.40
Current Gain/Loss: - 4.7%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
09/06 update: I cautioned readers that our biggest risk was a gap down on Tuesday. Unfortunately that is what AVP delivered. The market's widespread weakness pushed AVP to open lower at $20.87. That was underneath our stop loss at $21.40. The play was closed immediately.

- small bullish positions -

closed Position: Long AVP stock @ $21.91, exit $20.87 (-4.7%)

- or -

SEP $23 call (AVP1117I23) entry $0.50, exit $0.05 (-90%)

09/06 stopped out, gap down at $20.87
08/31 new stop loss @ 21.40
08/27 new stop loss @ 20.75
08/20 new stop loss at $19.95

chart:

Entry on August 17 at $21.91
Earnings Date 10/27/11 (unconfirmed)
Average Daily Volume = 5.1 million
Listed on August 15, 2011


Ultra Oil & Gas ETF - DIG - close: 40.00 change: -0.93

Stop Loss: 39.40
Target(s): 48.50
Current Gain/Loss: -8.3%
Time Frame: 2 to 6 weeks
New Positions: see below

Comments:
09/06 update: DIG was not immune to the market's vicious decline this morning. The ETF gapped open lower at $38.31, which was well below our stop loss at $39.40 The trade was closed immediately.

We're still bullish on this sector and will reload this trade in tonight's new candidates.

The plan was to keep our position size small.

closed Position: long DIG @ $41.82, exit $38.31 (-8.3%)

09/06 stopped out @ $38.31
08/30 new stop loss @ 39.40
08/29 trade opened. DIG opened at $41.82
08/27 new stop loss @ 36.90
08/27 removing the option - spreads are too wide
08/27 We are switching back to our original entry strategy. Open positions on Monday morning if DIG and S&P500 open positive.
08/25 New strategy: buy a dip at $36.00 instead, new stop loss at $35.45
08/24 Readers may want to wait on launching new positions until after we see the market's reaction to Bernanke's comments on Friday.

chart:

Entry on August 29 at $41.82
Earnings Date --/--/--
Average Daily Volume = 1.4 million
Listed on August 23, 2011


Steel ETF - SLX - close: 51.77 change: -1.19

Stop Loss: 52.40
Target(s): 54.50, 59.00
Current Gain/Loss: + 1.6%
Time Frame: 2 to 6 weeks
New Positions: see below

Comments:
09/06 update: Ouch! The stock market's sharp drop at the open saw the SLX gap open lower at $50.84. That's beneath our stop loss at $52.40, closing our play immediately.

SLX did manage to bounce from key support near $50.00. We will reload this trade as a new play in tonight's new plays section.

The plan was to keep our position size small to limit our risk.

closed Position: Long this ETF @ $50.00, exit $50.84 (+1.6%)

- or -

SEP $55 call (SLX1117I55) Entry $0.90, exit $0.25 (-72.2%)

09/06 stopped out, gap down at $50.84
08/31 new stop loss @ 52.40
08/30 new stop loss @ 51.75
08/29 1st target hit at $54.00.
stock position at $54.00 (+8.0%)
08/27 adjusted targets to $54.50 and $59.00
08/26 Play triggered at $50.00
08/25 new strategy: buy a dip at $50.00, new stop 49.40

chart:

Entry on August 26 at $50.00
Earnings Date --/--/--
Average Daily Volume = 126 thousand
Listed on August 23, 2011