Editor's Note:
The market's strong start this morning helped open some of our new bullish trades. Actually all of the untriggered and new plays are now open.

-James

Current Portfolio:


BULLISH Play Updates

Bon-Ton Stores Inc. - BONT - close: 6.34 change: +0.08

Stop Loss: 5.85
Target(s): 7.50, 8.25
Current Gain/Loss: - 1.2%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
09/07 update: Our new trade on BONT is open. Unfortunately the stock underperformed the major indices. Shares only gained +1.2% versus +2.8% for the S&P500. BONT closed well off its highs. I would still consider new positions here but conservative traders may want to look for another dip near the $6.00 area.

Earlier Comments:
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. More aggressive traders may want to put their stop loss under the August 8th low of $5.59.

Current Position: Long BONT stock @ $6.42

Entry on September 7 at $ 6.42
Earnings Date 11/17/11 (unconfirmed)
Average Daily Volume = 311 thousand
Listed on September 3, 2011


Ultra Oil & Gas ETF - DIG - close: 42.95 change: +2.95

Stop Loss: 37.65
Target(s): 44.50, 49.50
Current Gain/Loss: +3.7%
Time Frame: 2 to 6 weeks
New Positions: see below

Comments:
09/07 update: DIG continued to rally, right on cue, but the gap open today at $41.41 took a small chunk out of potential gains. Shares certainly displayed relative strength with a +7.3% gain today. Our first target is $44.50. I would not chase it here.

Remember, the plan was to keep our position size small.

Current Position: Long DIG @ $41.41

09/07 trade re-opened. DIG at $41.41
09/06 prior trade stopped out. Reload with a new entry point.

Entry on September 7 at $41.41
Earnings Date --/--/--
Average Daily Volume = 1.4 million
Listed on September 6, 2011


Giant Interactive Group Inc. - GA - close: 7.88 change: +0.26

Stop Loss: 7.55
Target(s): 9.30
Current Gain/Loss: -6.8%
2nd position Gain/Loss: -0.5%
Time Frame: exit on Sep. 9th or earlier
New Positions: see below

Comments:
09/07 update: GA rallied +3.4% today but saw its rally stall near the $8.00 level this afternoon. Keep in mind that we plan to exit on Friday to avoid the ex-dividend gap down. So no new positions at this time.

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: 38.00 change: +0.36

Stop Loss: 34.85
Target(s): 39.90, 43.75
Current Gain/Loss: -1.9%
Time Frame: 4 to 10 weeks
New Positions: see below

Comments:
09/07 update: MAKO hit new all-time highs this morning. The stock gapped open at $38.76, triggering our play. Yet MAKO failed to see much follow through on the opening move. Shares spent the second half of the day huddling near the $38.00 level. I'm still bullish here but readers may want to wait for a dip back toward the $37.00 level before initiating new positions.

Earlier Comments:
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.

SMALL POSITIONS

Current Position: Long MAKO stock @ $38.76

- or -

Long OCT $40 call (MAKO1122J40) Entry $2.10

Entry on September 7 at $38.76
Earnings Date 11/02/11 (unconfirmed)
Average Daily Volume = 1.3 million
Listed on September 3, 2011


Peet's Coffee & Tea - PEET - close: 56.54 change: +0.54

Stop Loss: 53.50
Target(s): 62.00
Current Gain/Loss: -0.1%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
09/07 update: After yesterday's strong bounce from the 100-dma it was a little disappointing to see PEET's +0.9% gain today. When the NASDAQ is up +3.0% on the session I would have expected more from PEET. The intraday bounce today still looks like a potential entry point.

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: 31.90 change: +0.93

Stop Loss: 28.90
Target(s): 34.75
Current Gain/Loss: +0.8%
Time Frame: exit before Sep. 15th
New Positions: see below

Comments:
09/07 update: Our RIMM trade is open. Shares gapped open at $31.64, dipped low enough to fill the morning gap, and then surged to a +3% gain. If you don't feel like chase it here then wait for a dip into the $30.75-30.00 zone as your entry point.

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

Current Position: Long RIMM stock @ $31.64

- or -

Long OCT $33 call (RIMM1122J33) Entry $2.40

09/07 trade is now open. RIMM gapped open at $31.64
09/06 trade not open yet. try again. New stop @ 28.90

Entry on September 7 at $31.64
Earnings Date 09/15/11 (confirmed)
Average Daily Volume = 26.9 million
Listed on September 3, 2011


Steel ETF - SLX - close: 54.31 change: +2.54

Stop Loss: 49.49
Target(s): 55.90, 59.50
Current Gain/Loss: + 1.9%
Time Frame: 2 to 6 weeks
New Positions: see below

Comments:
09/07 update: We were expecting SLX to rally today but the big gap open from $51.77 to $53.25 took a chunk out of our potential profits. I would not chase it here with today's +4.9% gain. More conservative traders may want to raise their stop loss.

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

CAUTION: The October options have wide spreads!

Current Position: Long SLX @ $53.25

- or -

Long OCT $55 call (SLX1122J55) Entry $2.50

09/07 trade is re-opened. SLX gaps higher at $53.25
09/06 prior trade stopped out. Reload with a new entry point.

Entry on September 7 at $53.25
Earnings Date --/--/--
Average Daily Volume = 126 thousand
Listed on September 6, 2011


WABCO Holdings - WBC - close: 48.32 change: +3.07

Stop Loss: 43.40
Target(s): 49.50, 54.00
Current Option Gain/Loss: + 4.3%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
09/07 update: Our WBC trade is now open and the stock is off to a strong start. Shares gapped open higher at $46.32 and rallied to a +6.7% gain. I probably would not chase it here. Wait for a pull back before considering new positions.

Our first target is $49.50. The second, more aggressive target is $54.00.

- Suggested Positions -

current Position: Long WBC stock @ $46.32

09/07 trade now open. WBC gaps higher at $46.32
09/06 trade not open yet. Try again. New stop loss 43.40. new targets 49.50 and 54.00

Entry on September 7 at $46.32
Earnings Date 10/27/11 (unconfirmed)
Average Daily Volume = 900 thousand
Listed on September 3, 2011


BEARISH Play Updates

None. No bearish plays currently.