Editor's Note:
Investors do not seem very excited for RIMM's earnings tomorrow night. The stock did not participate in the market's widespread rally today. It was our plan to exit RIMM positions at the close today.

Elsewhere the HNSN and NVDA trades are open. STMP hit our first profit target.

-James

Current Portfolio:


BULLISH Play Updates

CBOE Holdings, Inc. - CBOE - close: 26.82 change: +0.00

Stop Loss: 24.75
Target(s): 29.50
Current Gain/Loss: + 1.4%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
09/14 update: Trading action in CBOE today was disappointing. The stock failed at the $27.00 level twice and closed unchanged for the day. If a widespread market rally can't help fuel a move past $27.00 then CBOE may be poised for a pull back. Readers may want to wait for a dip or a bounce near $26.00 or $25.50 before considering new positions.

Earlier Comments:
We need to label this as a slightly more aggressive trade. While things look good on a short-term basis the long-term weekly chart is showing potential resistance. Readers may want to wait for a close over that trendline before considering new bullish positions.

Current Position: Long CBOE stock @ $26.43

- or -

Long OCT $27 call (CBOE1122J27) Entry $0.99

Entry on September 13 at $26.43
Earnings Date 11/03/11 (unconfirmed)
Average Daily Volume = 703 thousand
Listed on September 12, 2011


Hansen Medical Inc. - HNSN - close: 4.03 change: -0.18

Stop Loss: 3.90
Target(s): 4.85, 5.20
Current Gain/Loss: - 5.1%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
09/14 update: Warning! HNSN met our entry point requirements this morning but shares reversed lower early on. The move today and the -4.2% decline now looks like a bearish reversal pattern. I am turning defensive on this trade given today's relative weakness. We'll raise our stop loss to $3.90, just under the 10-dma. I'd wait for a bounce from the $4.00 level before considering new bullish positions.

Earlier Comments:
The stock can be volatile so we want to keep our position size small. Conservative traders may want a stop closer to today's low (3.90) while aggressive traders may want a stop under Friday's low (3.61).

Current Position: Long HNSN stock @ $4.25

09/14 new stop loss @ 3.90

Entry on September 14 at $4.25
Earnings Date 11/03/11 (unconfirmed)
Average Daily Volume = 963 thousand
Listed on September 12, 2011


NVIDIA Corp. - NVDA - close: 15.28 change: +0.75

Stop Loss: 13.49
Target(s): 16.75
Current Gain/Loss: +2.4%
Time Frame: 6 to 12 weeks
New Positions: see below

Comments:
09/14 update: The relative strength in NVDA today is encouraging but the gap open this morning makes me wish we'd bought the bounce two days ago. Shares opened at $14.91 and rallied t $15.47 intraday. I suspect we could see NVDA fill the gap so readers may want to wait for a dip toward the $14.60 area before initiating new positions.

Please note that I am raising our stop loss to $13.49.

Current Position: Long NVDA stock @ $14.91

- or -

Long OCT $15 call (NVDA1122J15) Entry $1.10

- or -

Long 2012 JAN $15 call (NVDA1122A15) Entry $2.28

09/14 new stop loss @ 13.49
09/14 gap open higher entry point @ 14.91

Entry on September 14 at $14.91
Earnings Date 11/10/11 (unconfirmed)
Average Daily Volume = 19.3 million
Listed on September 13, 2011


SodaStream Intl. - SODA - close: 42.82 change: +0.57

Stop Loss: 37.20
Target(s): 45.75, 49.75
Current Gain/Loss: +4.8%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
09/14 update: SODA gapped open higher again. Shares opened at $43.32 and rallied to $44.72 before paring its gains. It looks like the stock struggled with its descending 30-dma this morning. I am not suggesting new positions at this time. Wait for another dip or a bounce near the $40.00 level before considering new positions.

Earlier Comments:
If this stock can rally then SODA could see a huge short squeeze. The most recent data listed short interest at more than 75% of the very, very small 14.6 million-share float.

Remember, we want to use small positions to limit our risk.

Current Position: Long SODA @ $40.84

- or -

Long OCT $45 call (SODA1122J45) Entry $3.00

09/13 new stop loss at $37.20
09/13 trade is open. SODA @ 40.84

Entry on September 13 at $40.84
Earnings Date 11/29/11 (unconfirmed)
Average Daily Volume = 3.8 million
Listed on September 8, 2011


Stamps.com Inc. - STMP - close: 23.15 change: +2.23

Stop Loss: 18.45
Target(s): 22.25, 24.50
Current Gain/Loss: +14.1%
Time Frame: 6 to 10 weeks
New Positions: see below

Comments:
09/14 update: Target hit. STMP saw big gains today (+10.6%) and on really strong volume of 1.0 million shares versus the average of just 248 thousand. The stock hit an intraday high of $24.10. Our first target to take profits was hit at $22.25. The option was trading with a bid near $2.70 (+80%).

We still have a secondary target but I am moving it from $24.50 to $24.75. We'll also move our stop loss to $19.75.

Current Position: Long STMP stock @ $20.29

- or -

Long OCT $20 call (STMP1122J20) Entry $1.50

09/14 1st target hit @ 22.25 (+9.6%)
option bid near $2.70 (+80%)
09/12 STMP gapped open at $20.29, above our entry point.

chart:

Entry on September 12 at $20.29
Earnings Date 10/27/11 (unconfirmed)
Average Daily Volume = 248 thousand
Listed on September 10, 2011


WABCO Holdings - WBC - close: 47.22 change: +0.28

Stop Loss: 43.60
Target(s): 49.50, 54.00
Current Option Gain/Loss: + 1.9%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
09/14 update: Hmm.... I found the trading in WBC to be disappointing. Shares only added +0.5% versus the S&P 500's +1.3%. The stock is still struggling with its 30-dma. Readers may want to consider an early exit tomorrow. I am not suggesting new positions. Monday's low was $43.67. I am moving our stop to $43.60.

- Suggested Positions -

current Position: Long WBC stock @ $46.32

09/14 new stop loss @ 43.60
09/08 1st target hit at $49.50 (+6.8%)
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

Greif, Inc. - GEF - close: 47.75 change: +1.20

Stop Loss: 50.60
Target(s): 44.00, 40.50
Current Gain/Loss: -1.7%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
09/14 update: Another big day of market gains finally fueled some short covering in GEF. The stock rallied +2.5% but it struggled with short-term resistance near $48 this afternoon. If the stock declines from current levels we can use it as a new entry point for bearish positions.

Earlier Comments:
FYI: The Point & Figure chart for GEF is bearish with a $30 target. I am not suggesting the options. The spreads are too wide.

*Small Bearish Positions*

Current Position: short GEF stock @ $46.93

Entry on September 12 at $46.93
Earnings Date 12/07/11 (unconfirmed)
Average Daily Volume = 247 thousand
Listed on September 10, 2011


CLOSED BULLISH PLAYS

Research In Motion - RIMM - close: 29.72 change: -0.41

Stop Loss: 28.90
Target(s): 34.75
Current Gain/Loss: -6.0%
Time Frame: exit before Sep. 15th
New Positions: see below

Comments:
09/14 update: There seems to be a healthy dose of skepticism regarding RIMM's upcoming earnings tomorrow. No one is placing any big bets either way. The stock continued to churn sideways and settled with a -1.3% loss.

Nimble traders may want to consider a neutral trade like an option straddle at the $30.00 strike or a strangle (buying an out of the money call and out of the money put) to capture any post-earnings volatility. If you really wanted to get aggressive you could buy Septembers options before the closing bell on Thursday and sell them before they expire after Friday's close (you'd only have one day before Septembers expired).

It was our plan to exit our RIMM positions tonight at the close.

FYI: Analysts are expecting a profit of 88 cents a share.

closed Position: Long RIMM stock @ $31.64, exit 29.72 (-6.0%)

- or -

OCT $33 call (RIMM1122J33) Entry $2.40, exit $1.51 (-37.0%)

09/14 planned exit at the close
09/13 prepare to exit tomorrow at the close
09/10 Remember, we want to exit prior to earnings (9/15)
09/07 trade is now open. RIMM gapped open at $31.64
09/06 trade not open yet. try again. New stop @ 28.90

chart:

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