Editor's Note:
It was one of the best first quarters in years. Most stocks quietly ended the week drifting higher.

We saw STJ get triggered. ZUMZ was stopped out.

Current Portfolio:


BULLISH Play Updates

Akamai Technologies - AKAM - close: 36.70 change: -0.22

Stop Loss: 35.40
Target(s): 39.75 & 41.50
Current Gain/Loss: - 0.3%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
03/31 update: Hmm... AKAM has spent three weeks in the $36-38 zone. This consolidating is inside the larger up trend. AKAM remains inside its wide bullish channel for now. The key area of support to watch is the simple 50-dma (currently at 35.72). Nimble traders could buy dips or bounces near $36.00 or the 50-dma.

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

03/29/12 new stop loss @ 35.40
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


ANN Inc. - ANN - close: 28.64 change: -0.32

Stop Loss: 27.90
Target(s): 31.75
Current Gain/Loss: - 0.8%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/31 update: ANN performance on Friday was a bit disappointing with a -1.1% decline and a bearish candlestick pattern. Combine this with what looks like a potential reversal on Tuesday and Wednesday and readers may want to exit early now. I am not suggesting new positions at this time.

current Position: Long ANN stock @ 29.25

- or -

Long May $30 call (ANN1219E30) current ask $1.05

03/28/12 new stop loss @ 27.90
03/26/12 ANN gapped open above our trigger (28.75). Trade opened this morning at $28.89

chart:

Entry on March 26 at $28.89
Earnings Date 05/18/12 (unconfirmed)
Average Daily Volume = 1.5 million
Listed on March 24, 2011


BMC Software Inc. - BMC - close: 40.16 change: -0.10

Stop Loss: 39.30
Target(s): 44.00
Current Gain/Loss: unopened
Time Frame: 4 to 8 weeks
New Positions: Yes, see below

Comments:
03/31 update: BMC's performance on Friday was downright boring. The stock spent most of the session in a 30-cent range. The intraday high was only $40.38. The intermediate trend is up but I want to see a little bit more confirmation. Thus I am suggesting a trigger to open bullish positions at $40.55 with a stop loss at $39.30 (under the 10-dma). Our multi-week target is $44.00. We'll have to keep a wary eye on potential resistance at the 300-dma (currently 43.30). FYI: The Point & Figure chart for BMC is bullish with a $57 target.

Trigger @ 40.55

Suggested Position: buy BMC stock @ 40.55

- or -

buy the May $40 call (BMC1219E40)

chart:

Entry on March xx at $ xx.xx
Earnings Date 05/02/12 (unconfirmed)
Average Daily Volume = 2.0 million
Listed on March 29, 2011


Broadcom Corp. - BRCM - close: 39.30 change: +0.74

Stop Loss: 37.60
Target(s): 44.00
Current Gain/Loss: + 1.4%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/31 update: BRCM displayed some relative strength on Friday with a +1.9% gain and its highest close in months. This is technically a breakout past resistance in the $38.50-39.00 area. I would use this move as a new bullish entry point if both BRCM and the S&P 500 index open positive on Monday.

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

03/31/12 BRCM set a new multi-month closing high above $39.00
03/28/12 new stop loss @ 37.60, BRCM could be forming a bearish reversal.

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


ClickSoftware Tech. - CKSW - close: 12.68 change: +0.10

Stop Loss: 12.40
Target(s): 14.90
Current Gain/Loss: unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see below

Comments:
03/31 update: CKSW continues to chop sideways inside the $12.50-13.00 zone. We are waiting for a breakout past resistance.

I am suggesting a trigger to open small bullish positions at $13.15. We will try and limit our risk with a stop at $12.40. Our target is $14.90. More aggressive traders may want to aim higher. FYI: The Point & Figure chart for CKSW is bullish with a $19.25 target.

Trigger @ 13.15

Suggested Position: buy CKSW stock @ (trigger)

- or -

buy the May $12.50 call (CKSW1219e12.5)

chart:

Entry on March xx at $ xx.xx
Earnings Date 04/28/12 (unconfirmed)
Average Daily Volume = 184 thousand
Listed on March 26, 2011


eBay Inc. - EBAY - close: 36.90 change: -0.09

Stop Loss: 36.65
Target(s): 39.50
Current Gain/Loss: + 1.6%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
03/31 update: The action in EBAY over the last four days looks like a potential top or bearish reversal. The stock hit a new high and then reversed. There was three days of follow through lower. Now EBAY is hitting new two-week lows. More conservative traders may want to exit early now. We have a stop loss at $36.65 and EBAY hit an intraday low of $36.67 on Friday. I am not suggesting new positions at this time.

current Position: Long EBAY stock @ $36.29

- or -

Long Apr $35 call (EBAY1221D35) entry $2.02

03/29/12 new stop loss @ 36.65
03/26/12 new stop loss @ 35.75
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


Level 3 Communications - LVLT - close: 25.73 change: -0.71

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

Comments:
03/31 update: LVLT's performance over the last couple of weeks has been disappointing. On the weekly chart it looks like the stock has topped out. The stock should have support at $25.00 but more conservative traders may just want to exit early now and cut their losses especially if you're holding the April calls. I am not suggesting new positions at this time. We are expecting LVLT to test the $25.00 area.

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

03/31/12 LVLT is underperforming. Readers may want to exit early
03/26/12 today's bounce off the 10-dma could be a new entry point
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


NetApp, Inc. - NTAP - close: 44.77 change: +0.10

Stop Loss: 43.75
Target(s): 49.75
Current Gain/Loss: - 2.6%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
03/31 update: Traders bought the dip in NTAP again but the stock did not make much progress. I would wait for a rally back above $45.00 before considering new positions.

Our short-term target is $49.75. More aggressive traders may want to aim higher. The Point & Figure chart for NTAP is bullish with a $65.00 target.

current Position: Long NTAP stock @ $45.97

- or -

Long Apr $45 call (NTAP1221D45) Entry $2.05

chart:

Entry on March 26 at $45.97
Earnings Date 05/23/12 (unconfirmed)
Average Daily Volume = 5.8 million
Listed on March 24, 2011


NXP Semiconductors - NXPI - close: 26.61 change: +0.00

Stop Loss: 25.35
Target(s): 29.75
Current Gain/Loss: + 0.4%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
03/31 update: NXPI tested both $26.00 and $27.00 within the first hour of trading but eventually settled unchanged on Friday. Look for a rise past $27.15 before considering new bullish positions. Keep an eye on the SOX semiconductor index. The trading in NXPI is very similar to the action in the SOX. 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: 21.76 change: -0.08

Stop Loss: 21.40
Target(s): 24.90
Current Gain/Loss: - 3.9%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
03/31 update: I remain cautious on RDEA. Broken resistance near $22.00 should have been new support but it didn't hold. Instead the stock is finding technical support at its 300-dma. Unfortunately the action last week could be viewed as a potential top. I am not suggesting new positions at this time.
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


St. Jude Medical - STJ - close: 44.31 change: +0.36

Stop Loss: 42.95
Target(s): 48.50
Current Gain/Loss: + 0.1%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/31 update: STJ has hit our new trigger to open bullish positions at $44.25. I would still consider new positions now at current levels. Our target is $48.50 but we do not want to hold over the mid-April earnings report. FYI: The Point & Figure chart for STJ is bullish with a $66.00 target.

current Position: buy STJ stock @ $44.25

- or -

Long May $45 call (STJ1219E45) Entry $1.40

03/30/12 triggered
03/29/12 new entry point: trigger @ 44.25
03/28/12 not open yet. try again.

chart:

Entry on March 30 at $44.25
Earnings Date 04/18/12 (unconfirmed)
Average Daily Volume = 3.0 million
Listed on March 27, 2011


Stamps.com Inc. - STMP - close: 27.88 change: -0.28

Stop Loss: 26.49
Target(s): 32.50
Current Gain/Loss: - 1.3%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/31 update: STMP underperformed the major indices on Friday with a -0.99% decline. I would wait for a rally past $29.25 before considering new bullish positions. We are raising our stop loss up to $26.49.

Earlier Comments:
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

03/29/12 new stop loss @ 26.49
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: 39.71 change: +0.49

Stop Loss: 38.25
Target(s): 41.50
Current Gain/Loss: + 2.8%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/31 update: TJX also displayed relative strength on Friday with a +1.2% gain. The stock closed at a new record high. I don't see any changes from my prior comments. More conservative traders may want to take profits now with shares nearing potential resistance at the $40.00 level, especially if you're holding the April calls (currently up +46%). I am raising our stop loss to $38.25. I am not suggesting new positions at this time.

current Position: Long TJX stock @ $38.60

- or -

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

03/31/12 new stop loss @ 38.25
03/29/12 new stop loss @ 37.95
03/26/12 conservative traders may want to take profits near the $40.00 mark
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: $71.11 change: -0.23

Stop Loss: 69.40
Target(s): 74.75
Current Gain/Loss: + 2.5%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
03/31 update: TTC has spent over two weeks now consolidating sideways in the $70-72 zone. The bullish trend of higher lows would suggest the stock will breakout higher. I am suggesting readers wait for a new rally past $72.00 before considering new bullish positions.

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

current Position: Long TTC stock @ $69.32

03/27/12 new stop loss @ 69.40
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: 21.09 change: -0.09

Stop Loss: 20.30
Target(s): 23.50
Current Gain/Loss: - 0.7%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/31 update: WBSN drifted sideways on Friday and remains above short-term support at the $21.00 level and its simple 10-dma. More conservative traders may want to tighten their stop loss higher. FYI: The Point & Figure chart for WBSN is bullish with a $26.00 target.

current Position: buy WBSN stock @ $21.24

03/29/12 new stop loss @ 20.30
03/26/12 Trade opened on WBSN's gap higher at $21.24. This is above our trigger of $21.15.

chart:

Entry on March 26 at $21.24
Earnings Date 04/24/12 (unconfirmed)
Average Daily Volume = 388 thousand
Listed on March 22, 2011


Wyndham Worldwide - WYN - close: 46.51 change: +1.39

Stop Loss: 44.30
Target(s): 49.50
Current Gain/Loss: + 2.7%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/31 update: Shares of WYN were upgraded by Goldman Sachs on Friday and the stock gapped open higher and closed up +3.0%. This is a new all-time high for the stock. While the trend is up I am not suggesting new positions at this time.

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

03/29/12 new stop loss @ 44.30
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: 19.79 change: -0.12

Stop Loss: 22.05
Target(s): 18.50
Current Gain/Loss: + 8.0%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
03/31 update: Friday was the second day in a row that GBX churned sideways in a tight range with prior support at $20.00 acting as new resistance. The stock is arguably short-term oversold so I am not suggesting new positions at this time.

More conservative traders may want to take profits now. We are aiming for $18.50.

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

03/28/12 new stop loss @ 22.05, readers may want to take profits now
03/26/12 new stop loss @ 22.55
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 BULLISH PLAYS

Zumiez, Inc. - ZUMZ - close: 36.11 change: -0.24

Stop Loss: 35.75
Target(s): 39.75
Current Gain/Loss: - 2.2%
Time Frame: 2 to 4 weeks
New Positions: see below

Comments:
03/31 update: We had a tight stop los son ZUMZ to limit our risk. Shares were showing relative weakness on Friday morning and hit our stop loss at $35.75. The larger trend is higher but if you're looking for a new entry point consider waiting for a bounce near the bottom of its bullish channel.

(small positions)

closed Position: Long ZUMZ stock @ $36.56 exit $35.75 (-2.2%)

- or -

Apr $40 call (ZUMZ1221D40) Entry $0.45 exit $0.10 (-77.7%)

03/30/12 stopped out at $35.75

chart:

Entry on March 29 at $36.56
Earnings Date 05/17/12 (unconfirmed)
Average Daily Volume = 472 thousand
Listed on March 28, 2011