Editor's Note:
Stocks were slowly drifting higher off their Friday morning lows. The major indices closed positive on Friday but gains were mild. We did see our NXPI and RDEA trades get triggered. Meanwhile I am removing HK as a candidate.

Current Portfolio:


BULLISH Play Updates

Akamai Technologies - AKAM - close: 36.62 change: +0.16

Stop Loss: 34.95
Target(s): 39.75 & 41.50
Current Gain/Loss: - 0.5%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
03/24 update: Will AKAM bounce from $36.00 or will it dip and test support near its 50-dma and the bottom of its bullish channel? At the moment readers may want to wait and buy the bounce off the 50-dma if you're looking for a new entry point. More aggressive traders may want to put their stop under the March low near $34.70.

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.

chart:

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: 51.23 change: -0.74

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

Comments:
03/24 update: I have been warning readers to look for ANF to dip toward support near $50.00. Shares slipped to $50.46 on Friday before trimming its losses. If both ANF and the S&P 500 index open positive on Monday morning we can use this as a new bullish entry point.

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 55.15) 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

chart:

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


Broadcom Corp. - BRCM - close: 38.47 change: +0.38

Stop Loss: 36.45
Target(s): 44.00
Current Gain/Loss: - 0.7%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/24 update: BRCM bounced off its simple 10-dma for the second day in a row. I would be tempted to launch positions now or you could wait for a new relative high above $39.05.

Earlier Comments:
The rise past $39.00 has created a brand new Point & Figure chart triple top breakout buy signal that is currently forecasting at $50 target.

current Position: Long BRCM stock @ $38.75

- or -

Long May $40 call (BRCM1219E40) Entry $1.52

chart:

Entry on March 19 at $38.75
Earnings Date 04/26/12 (unconfirmed)
Average Daily Volume = 8.8 million
Listed on March 17, 2011


eBay Inc. - EBAY - close: 37.09 change: -0.53

Stop Loss: 34.75
Target(s): 39.50
Current Gain/Loss: + 2.2%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
03/24 update: Uh-oh! EBAY wasn't acting so hot on Friday. Shares merely dipped toward the bottom of its recent $37-38 trading range. Unfortunately the -1.4% decline underperformed the major averages. Furthermore Friday's drop is a bearish engulfing candlestick reversal pattern but these usually need to see confirmation. At this time I would not be surprised to see EBAY dip toward $36.00 if the market doesn't resume it's rally soon. I am not suggesting new positions at this time.

I am leaving our stop loss at $34.75 for now but more conservative traders may want to adjust their stop closer to the $36.00 area.

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

chart:

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: 43.32 change: +0.58

Stop Loss: 41.40
Target(s): 44.75
Current Gain/Loss: + 6.0%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/24 update: HAIN was showing some relative strength on Friday with a +1.3% gain. The stock ended the week half a point off its record high set a few days ago. The trend is up but I am not suggesting new positions at this time. More conservative traders may want to go ahead and take profits now.

(small positions)

current Position: Long HAIN stock @ $40.85

03/19/12 new stop loss @ 41.40
03/17/12 new stop loss @ 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

chart:

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: 26.61 change: -0.02

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

Comments:
03/24 update: LVLT is still slowly consolidating lower after tagging a new four-month high on Monday. I am expecting some short-term support at the 10-dma near $26.15. If that fails then LVLT is likely headed for the $25.00 level. I am not suggesting new positions at this time.

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 $2.30

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.

chart:

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


NXP Semiconductors - NXPI - close: 26.97 change: +0.70

Stop Loss: 25.35
Target(s): 29.75
Current Gain/Loss: + 1.7%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
03/24 update: NXPI displayed relative strength on Friday. It's +2.6% gain outperformed both the SOX index and the NASDAQ. Shares have also broken out from its recent trading range and hit our entry point to open bullish positions at $26.50.

Our upside target is $29.75. FYI: The Point & Figure chart for NXPI is bullish with a $45.00 target.

(small positions)

current Position: Long NXPI stock @ $26.50

- or -

Long Apr $25 call (NXPI1221D25) Entry $2.25

03/23/12 NXPI hit our trigger for small positions at $26.50

chart:

Entry on March 23 at $26.50
Earnings Date 05/03/12 (unconfirmed)
Average Daily Volume = 1.6 million
Listed on March 19, 2011


Ardea Biosciences - RDEA - close: 22.84 change: +0.27

Stop Loss: 21.40
Target(s): 24.90
Current Gain/Loss: + 0.8%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
03/24 update: RDEA continues to push higher. Shares hit our trigger for bullish positions at $22.65 on Friday. We are starting this trade with a stop loss at $21.40. Nimble traders could try launching positions on a new dip near $22.00, which should be short-term support.
FYI: The Point & Figure chart for RDEA is bullish with a long-term $31.50 target.

current Position: Long RDEA stock @ $22.65

03/23/12 RDEA hit our entry trigger @ 22.65

chart:

Entry on March 23 at $22.65
Earnings Date 03/09/12
Average Daily Volume = 307 thousand
Listed on March 22, 2011


Sturm, Ruger & Co. - RGR - close: 48.07 change: +0.14

Stop Loss: 43.75
Target(s): 49.50
Current Gain/Loss: + 9.1%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/24 update: RGR spiked to $48.66 on Friday morning before profit taking pulled it down to $46.32. The stock recovered and managed to post another gain. RGR and the gun industry definitely got some free press on Friday following the company's announcement about incredibly strong demand.

More conservative traders may want to exit early right now to lock in a gain. I am not suggesting new positions at this time.

current Position: Long RGR stock @ $44.05

- or -

Long Apr $45 call (RGR1221D45) Entry $1.45

03/22/12 new stop loss @ 43.75
03/21/12 Adjust exit target from $48.50 to $49.50 on news that there is so much demand RGR has stopped accepting new orders.
03/16/12 triggered at $44.05

chart:

Entry on March 16 at $44.05
Earnings Date 05/01/12 (confirmed)
Average Daily Volume = 319 thousand
Listed on March 15, 2011


Stamps.com Inc. - STMP - close: 27.87 change: -0.49

Stop Loss: 25.95
Target(s): 32.50
Current Gain/Loss: - 1.3%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/24 update: STMP hit some profit taking on Friday but the short-term trend of higher lows is still intact. At this point readers may want to wait for STMP to rally past its 50-dma before considering new bullish positions.

Earlier Comments:
More conservative trades may want to wait for STMP to trade over its 5-dma near $28.83 before initiating positions instead. If the rally does continue we could see STMP accelerate due to short covering. The most recent data listed short interest at almost 16% of the very small 13.2 million share float.

This is a volatile stock. I am suggesting we keep our position size small to limit our risk.

(small positions)

Current Position: Long STMP stock @ $28.25

- or -

Long Apr $30 call (STMP1221D30) Entry $0.85

03/21/12 STMP hit our entry trigger at $28.25

chart:

Entry on March 21 at $28.25
Earnings Date 04/30/12 (unconfirmed)
Average Daily Volume = 508 thousand
Listed on March 15, 2011


TJX Companies - TJX - close: 38.63 change: -0.27

Stop Loss: 37.40
Target(s): 41.50
Current Gain/Loss: + 0.0%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/24 update: I couldn't find any news to explain the spike lower on Friday morning. TJX dipped toward its 10-dma before slowly trimming its losses. Shares should have rallied given bullish analyst comments on the stock. I would use this dip as a new entry point but only if both TJX and the S&P 500 index open positive on Monday morning.

The $40.00 level could offer some short-term resistance but we will set our first target at $41.50.

current Position: Long TJX stock @ $38.60

- or -

Long Apr $37.50 call (TJX1221D37.5) Entry $1.60

03/21/12 TJX hit our entry trigger at $38.60

chart:

Entry on March 21 at $38.60
Earnings Date 05/15/12 (unconfirmed)
Average Daily Volume = 4.6 million
Listed on March 20, 2011


The Toro Company - TTC - close: $70.26 change: -0.78

Stop Loss: 67.40
Target(s): 74.75
Current Gain/Loss: + 1.3%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
03/24 update: Hmm... TTC spent a good portion of Friday morning trading under what should have been support at the $70.00 level. The stock recovered to close above $70.00 but TTC underperformed the major indices with a -1.0% decline. I would wait for a new rally past $71.50 before considering new bullish positions. More conservative traders may want to use a tighter stop.

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

current Position: Long TTC stock @ $69.32

03/22/12 adjust exit target to $74.75
03/20/12 new stop loss @ 67.40
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

chart:

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


Websense, Inc. - WBSN - close: 20.90 change: +0.14v

Stop Loss: 19.85
Target(s): 23.50
Current Gain/Loss: unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see below

Comments:
03/24 update: WBSN tried to rally past resistance near the $21.00 level but didn't get very far. The intraday high on Friday was only $21.11. I am suggesting a trigger to open bullish positions at $21.15 with a stop loss at $19.85. More conservative traders might want to consider a stop closer to today's intraday low (20.38) instead. FYI: The Point & Figure chart for WBSN is bullish with a $26.00 target.

Trigger @ $21.15

Suggested Position: buy WBSN stock @ (trigger)

chart:

Entry on March xx at $ xx.xx
Earnings Date 04/24/12 (unconfirmed)
Average Daily Volume = 388 thousand
Listed on March 22, 2011


Wyndham Worldwide - WYN - close: 44.64 change: -0.04

Stop Loss: 43.75
Target(s): 49.50
Current Gain/Loss: - 1.2%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/24 update: Shares of WYN have been correcting lower for a week and a half. The stock tested its 30-dma on Friday. I suspect we will see WYN test the $44.00 level and the bottom of its bullish channel before moving higher. Readers can choose to buy a dip near the $44.00 mark or wait for shares to break the short-term trend of lower highs (with a move over $45.00) as our next 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

chart:

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: 21.60 change: +0.53

Stop Loss: 23.25
Target(s): 18.50
Current Gain/Loss: - 0.5%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
03/24 update: I have been cautioning readers that GBX could find support near $20.00 and its 200-dma. The stock spiked down to $20.06 on Friday morning and then rebounded to a +2.5% gain. The overall pattern is still bearish but GBX could easily bounce back toward its 10-dma (22.06) or the $23.00 level before rolling over again. 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

03/17/12 Friday's intraday pullback from $23.00 can be used as a new bearish entry point.
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.

chart:

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


CLOSED BEARISH PLAYS

Halcon Resources - HK - close: 10.68 change: +0.11

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

Comments:
03/24 update: HK does not want to cooperate. We have been waiting for a breakdown under $10.00 with a trigger to open bearish positions at $9.75. The stock is slowly bouncing off the $10 level instead. I am removing HK as a trading candidate. Our play never opened.

Trigger @ 9.75 (small positions)

Our Trade Never Opened.

03/24/12 removed HK from the newsletter.

chart:

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