Editor's Note:
The U.S. markets rallied again but oil and oil-related stocks underperformed. Our USO trade has been stopped out. Meanwhile our new play on LVLT has been triggered.

Current Portfolio:


BULLISH Play Updates

Akamai Technologies - AKAM - close: 37.35 change: +0.69

Stop Loss: 34.95
Target(s): 39.75 & 41.50
Current Gain/Loss: + 1.4%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
03/15 update: Traders bought yesterday's dip. AKAM outperformed today with a +1.8% gain. If the stock can rally past short-term resistance at $37.50 it should be poised for a run towards the $40.00 level.

I would be tempted to use a rally past $37.50 as a new entry point. We will inch up our stop loss to $34.95.

current Position: Long AKAM stock @ $36.82

- or -

Long Apr $36 call (AKAM1217D36) entry $1.92

- or -

Long May $40 call (AKAM1219E40) entry $1.39

03/15/12 new stop loss @ 34.95
03/13/12 trade opened this morning
03/12/12 not open yet. try again.

Entry on March 13 at $36.82
Earnings Date 04/26/12 (unconfirmed)
Average Daily Volume = 2.9 million
Listed on March 10, 2011


Abercrombie & Fitch - ANF - close: 52.87 change: -0.66

Stop Loss: 49.75
Target(s): 56.50
Current Gain/Loss: + 1.5%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
03/15 update: Hmm... after yesterday's strong session in ANF the rally stalled a bit today. Shares gave back -1.2%. I cautioned readers last night that ANF could see a pull back toward the $52-51 zone.

Earlier Comments:
We want to keep our position size small to limit our risk. There is potential resistance at the top of the November gap near $55.00. Plus the exponential 200-dma (near $54.40) and the simple 150-dma (near 55.45) could both be technical resistance. Our exit target is $56.50. FYI: The Point & Figure chart for ANF is bullish with a $69.00 target.

current Position: Long ANF stock @ $52.05

- or -

Long Apr $52.50 call (ANF1221D52.5) Entry $2.25

Entry on March 14 at $52.05
Earnings Date 05/16/12 (unconfirmed)
Average Daily Volume = 3.2 million
Listed on March 13, 2011


eBay Inc. - EBAY - close: 36.83 change: -0.79

Stop Loss: 34.75
Target(s): 39.50
Current Gain/Loss: + 1.5%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
03/15 update: Shares of EBAY retreated from multi-year highs after the stock was downgraded to a "neutral" this morning. I would use a dip into the $36.50-36.00 zone as a new bullish entry point. Conservative traders could wait for a bounce in this area before launching positions.

current Position: Long EBAY stock @ $36.29

- or -

Long Apr $35 call (EBAY1221D35) entry $2.02

03/13/12 trade opened this morning
03/12/12 not open yet. try again. added a trigger at $36.85

Entry on March 13 at $36.29
Earnings Date 04/26/12 (unconfirmed)
Average Daily Volume = 10.6 million
Listed on March 10, 2011


The Hain Celestial Group - HAIN - close: 42.80 change: -0.06

Stop Loss: 39.75
Target(s): 44.75
Current Gain/Loss: + 4.7%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/15 update: HAIN spent a second day churning sideways under new resistance at the $43.00 level. I am tempted to raise our stop loss toward the $41.00 area. More conservative trades may want to take profits early.

(small positions)

current Position: Long HAIN stock @ $40.85

03/05/12 new stop loss @ 39.75
03/03/12 new stop loss @ 39.45
02/29/12 triggered at $40.85
02/27/12 trade did not open. Adjusting entry strategy to buy HAIN at $40.85 with a stop loss at $38.95
02/25/12 trade did not open. Try again

Entry on February 29 at $40.85
Earnings Date 05/03/12 (unconfirmed)
Average Daily Volume = 430 thousand
Listed on February 23, 2011


Level 3 Communications - LVLT - close: 26.60 change: +1.67

Stop Loss: 24.70
Target(s): 29.00
Current Gain/Loss: + 1.6%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
03/15 update: We were expecting a rally in LVLT but today's gap higher was not what we had in mind. Before the opening bell the stock was upgraded. This sparked the gap open higher at $26.17. That is well above our trigger to open positions at $25.25. Our trade is open but now we face the risk that LVLT decides to fill the gap and dip back toward $25.00, which should now be support.

I am not suggesting new positions at this time. We will raise our stop loss to $24.70. I am also adjusting our exit target to $29.00.

Earlier Comments:
The stock could see a short squeeze. The most recent data listed short interest at 26% of the 153 million-share float. FYI: The Point & Figure chart for LVLT is bullish with a long-term $41.50 target.

current Position: Long LVLT stock @ $26.17

- or -

Long Apr $25 call (LVLT1221D25) Entry $0.00

03/15/12 new stop loss @ 24.70, adjust exit target to $29.00
03/15/12 trade opened on LVLT's gap higher at $26.17, which is above our trigger to open positions at $25.25.

Entry on March 15 at $26.17
Earnings Date 05/03/12 (unconfirmed)
Average Daily Volume = 2.4 million
Listed on March 14, 2011


The Toro Company - TTC - close: $71.96 change: +0.30

Stop Loss: 66.40
Target(s): 74.00
Current Gain/Loss: + 3.8%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
03/15 update: TTC continues to drift higher but shares struggled with the $72.00 level as overhead resistance all day long. I don't see any changes from my prior comments except that we will raise our stop loss up to $66.40.

Our target is $74.00. FYI: The Point & Figure chart for TTC is bullish with a $79.00 target.

current Position: Long TTC stock @ $69.32

03/15/12 new stop loss @ 66.40
03/13/12 Our TTC trade has been opened.
03/12/12 trade did not open. try again.
03/10/12 trade did not open. try again.
03/09/12 trade did not open. TTC opened lower and then bounced

Entry on March 13 at $69.32
Earnings Date 05/21/12 (unconfirmed)
Average Daily Volume = 330 thousand
Listed on March 08, 2011


Wyndham Worldwide - WYN - close: 45.54 change: -0.33

Stop Loss: 43.75
Target(s): 49.50
Current Gain/Loss: + 0.6%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/15 update: WYN is still digesting its big gain from Tuesday. The stock slipped -0.7% today. A dip or a bounce near the $45.00 level can be used as a new bullish entry point. Our multi-week target is $49.50.

FYI: The Point & Figure chart for WYN is bullish with a long-term $82.00 target.

current Position: Long WYN stock @ $45.25

- or -

Long Apr $45 call (WYN1221D45) Entry $1.65

03/13/12 new stop loss @ 43.75
03/13/12 trade triggered at $45.25

Entry on March 13 at $45.25
Earnings Date 04/26/12 (unconfirmed)
Average Daily Volume = 1.7 million
Listed on March 12, 2011


BEARISH Play Updates

Greenbrier Companies - GBX - close: 22.15 change: +0.38

Stop Loss: 23.25
Target(s): 18.50
Current Gain/Loss: - 3.0%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
03/15 update: Uh-oh! I have to warn you that the DJUSRR railroad index was a big outperformer today with a +5.7% gain. Most of the stocks related to the railroad industry were producing strong gains today. GBX added +1.7%. If the sector continues to rally it will put our bearish trade in danger. I am not suggesting new positions at this time.

Earlier Comments:
Traders should be aware that the $20.00 level, with the 200-dma, could be short-term support but we are aiming for a drop to $18.50.

current Position: short GBX stock @ $21.50

03/14/12 triggered at $21.50
03/13/12 removed the April $22.50 put as a suggested trade due to a ridiculously wide spread.

Entry on March 14 at $21.50
Earnings Date 04/09/12 (unconfirmed)
Average Daily Volume = 468 thousand
Listed on March 12, 2011


Halcon Resources - HK - close: 9.99 change: -0.01

Stop Loss: 10.70
Target(s): 8.00
Current Gain/Loss: unopened
Time Frame: 3 to 6 weeks
New Positions: Yes, see below

Comments:
03/15 update: HK spent the session hugging support at the $10.00 mark. Shares did see a small dip lower this afternoon but managed to bounce back. The intraday low was $9.90.

Earlier Comments:
There is already relatively high short-interest so I am suggesting small positions. We will use a trigger to open bearish positions at $9.75 with a stop loss at $10.70. Our target is $8.00. More aggressive traders could target the 100-dma instead.

Trigger @ 9.75

Suggested Position: short HK stock @ 9.75

Entry on March xx at $ xx.xx
Earnings Date 03/05/12 (confirmed)
Average Daily Volume = 1.7 million
Listed on March 07, 2011


CLOSED BULLISH PLAYS

United States Oil Fund (ETF) - USO - close: 40.28 change: -0.13

Stop Loss: 39.90
Target(s): 43.50
Current Gain/Loss: - 0.8%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/15 update: Crude oil prices declined even though the U.S. dollar also declined. Shares of the USO dipped under support at $40.00 and hit $39.70 before trimming its losses. Our stop loss was hit at $39.90.

Readers may want to keep an eye on the USO for a new rally past $41.00 as a new bullish entry point.

Earlier Comments:
We do not want to use the USO for long-term positions. This ETF is constantly rolling over its futures positions over time, which can have a negative impact on the share price.

(small positions!)

closed Position: Long the ETF @ $40.25 , exit $39.90 (-0.8%)

- or -

April $40 call (USO1221D40) Entry $2.10 exit $1.26 (-40.0%)

03/15/12 stopped out at $39.90
03/01/12 new stop loss @ 39.90
02/29/12 new stop loss @ 39.75
02/25/12 new stop loss @ 39.40

chart:

Entry on February 21 at $40.25
Earnings Date --/--/--
Average Daily Volume = 8.8 million
Listed on February 18, 2011