Editor's Note:
A few of our candidates saw some profit taking now that the first quarter is over. EBAY, RDEA, and STMP were all stopped out.

BMC and MU were triggered.

Current Portfolio:


BULLISH Play Updates

Akamai Technologies - AKAM - close: 36.73 change: +0.03

Stop Loss: 35.40
Target(s): 39.75 & 41.50
Current Gain/Loss: - 0.2%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
04/02 update: I am urging caution here. AKAM dipped toward support near $36 and its 50-dma this morning. More conservative traders might want to tighten their stop loss closer to the 50-dma. 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.

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: 28.78 change: +0.14

Stop Loss: 27.90
Target(s): 31.75
Current Gain/Loss: - 0.3%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
04/02 update: ANN dipped to $28.28 before bouncing back and closing in positive territory. I remain cautious here. More conservative traders may want to exit early. 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

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: + 0.3%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
04/02 update: Traders bought the dip in BMC near $40 this morning and the stock rallied to a new multi-month high. Our trigger to open positions was hit at $40.55.

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.

Suggested Position: Long BMC stock @ 40.55

- or -

Long May $40 call (BMC1219E40) Entry $2.20

04/02/12 triggered at $40.55

Entry on April 02 at $40.55
Earnings Date 05/02/12 (unconfirmed)
Average Daily Volume = 2.0 million
Listed on March 29, 2011


Broadcom Corp. - BRCM - close: 38.89 change: -0.41

Stop Loss: 37.60
Target(s): 44.00
Current Gain/Loss: + 0.3%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
04/02 update: There was no follow through on Friday's rally for BRCM. Shares spiked down at the open and ended the session with a -1% loss. Readers may want to wait for a rally past $40.00 before considering new bullish positions.

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.

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: 12.44 change: -0.24

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

Comments:
04/02 update: CKSW is breaking down from its $12.00-13.00 trading range. If the stock does not recover tomorrow we will drop it as a bullish candidate.

Currently 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)

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


Level 3 Communications - LVLT - close: 25.92 change: +0.19

Stop Loss: 24.70
Target(s): 29.00
Current Gain/Loss: - 0.9%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
04/02 update: LVLT is still consolidating with a short-term bearish trend of lower highs and lower lows. Shares just hit a new lower low today at $25.25. I don't see any changes from my weekend comments. Weekend comments:
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.

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: 45.05 change: +0.28

Stop Loss: 43.75
Target(s): 49.75
Current Gain/Loss: - 2.0%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
04/02 update: NTAP quietly bounced higher most of the session but didn't quite keep up with the rebound in the major indices. The stock might see some action tomorrow since the company will be presenting at an investor conference tomorrow.

This move over $45.00 looks like a new bullish entry point.

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

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: 26.12 change: -0.49

Stop Loss: 25.35
Target(s): 29.75
Current Gain/Loss: - 1.4%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
04/02 update: NXPI underperformed today with a -1.8% decline. Traders did buy the dip near its 20-dma but NXPI looks poised for more weakness tomorrow morning. I am not suggesting new positions at this time. 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

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


St. Jude Medical - STJ - close: 43.89 change: -0.42

Stop Loss: 42.95
Target(s): 48.50
Current Gain/Loss: - 0.8%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
04/02 update: An analyst downgrade this morning helped push STJ lower and shares hit $43.01 this morning. The stock managed to bounce back toward $44 and its 300-dma before closing with a -0.9% loss. Readers may want to wait for a new rise past $44.60 or past $44.80 before considering new bullish positions. 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.

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


TJX Companies - TJX - close: 39.87 change: +0.16

Stop Loss: 38.25
Target(s): 41.50
Current Gain/Loss: + 3.2%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
04/02 update: Today was it! If you were looking for an early exit near round-number resistance at $40.00 then today was your day. TJX traded to $39.99 this morning. I am suggesting we go ahead and exit our April $37.50 calls now at the open tomorrow morning. Hopefully TJX doesn't gap down at the open. Currently these calls have a bid at $2.55 (+59%). 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

04/02/12 prepare to exit Apr 37.50 calls at the open tomorrow, current bid is $2.55 (+59%)
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

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: $71.45 change: +0.34

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

Comments:
04/02 update: Traders bought the dip in TTC yet again and the stock closed up +0.4%. Yet shares remain under resistance near $72.00. 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

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: 21.38 change: +0.29

Stop Loss: 20.30
Target(s): 23.50
Current Gain/Loss: + 0.6%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
04/02 update: WBSN briefly traded under short-term support near $21.00 this morning and then surged higher. The stock closed up +1.3% and the bounce today looks like a new bullish entry point. More conservative traders might want to adjust their stops closer to today's low (20.93). 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.

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: 47.09 change: +0.58

Stop Loss: 44.30
Target(s): 49.50
Current Gain/Loss: + 4.0%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
04/02 update: WYN continues to show relative strength. The stock added +1.2% and set a new record high. 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

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

Ctrip.com Intl. - CTRP - close: 21.73 change: +0.09

Stop Loss: 23.05
Target(s): 18.00
Current Gain/Loss: - 0.1%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
04/02 update: It was a quiet day for CTRP. The stock opened at $21.70, tested the $22.00 level as overhead resistance, and then faded lower. I would still consider new positions at current levels.

Earlier Comments:
Readers may want to keep their position size small or limit their risk by trading put options. The most recent data listed short interest at about 10% of the 131 million share float. That could raise the risk of a short squeeze.

It's possible the $20.00 level could act as round-number, psychological support but we are aiming for $18.00. The Point & Figure chart for CTRP is bearish with a $15.00 target.

current Position: short CTRP stock @ $21.70

- or -

Long Apr $21 PUT (CTRP1221P21) Entry $0.65

Entry on April 02 at $21.70
Earnings Date 05/--/12 (unconfirmed)
Average Daily Volume = 3.6 million
Listed on March 31, 2011


Greenbrier Companies - GBX - close: 20.31 change: +0.52

Stop Loss: 21.05
Target(s): 18.50
Current Gain/Loss: + 5.5%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
04/02 update: Warning! Traders bought the new relative low in GBX this morning. By the closing bell shares had created a bullish engulfing candlestick reversal pattern. More conservative traders may want to exit immediately. I am lowering our stop loss down to $21.05. 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

04/02/12 new stop loss @ 21.05, GBX has created a one-day bullish reversal signal. Readers may want to exit immediately.
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.

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


Micron Technology Inc. - MU - close: 8.10 change: -0.00

Stop Loss: 8.41
Target(s): 7.05
Current Gain/Loss: - 1.5%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
04/02 update: MU continued to sink this morning and hit our trigger for bearish positions at $7.98. Yet the stock reversed higher at $7.96 and traded to $8.25 intraday. The overall pattern remains bearish here but I would wait for a new relative low at $7.95 before considering new bearish positions.

current Position: short MU stock @ $7.98

- or -

Long Apr $8.00 PUT (MU1221P8) Entry $0.37

04/02/12 triggered at $7.98

Entry on April 02 at $7.98
Earnings Date 06/21/12 (unconfirmed)
Average Daily Volume = 33.0 million
Listed on March 31, 2011


CLOSED BULLISH PLAYS

eBay Inc. - EBAY - close: 36.59 change: -0.31

Stop Loss: 36.65
Target(s): 39.50
Current Gain/Loss: + 0.9%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
04/02 update: EBAY underperformed this morning and broke down to new two-week lows. Shares opened at $36.68 and quickly hit our stop loss at $36.65.

I would definitely keep EBAY on your watch list for a dip or a bounce in the $34.00-35.00 zone as a possible bullish entry point.

current Position: Long EBAY stock @ $36.29 exit $36.65 (+0.99%)

- or -

Apr $35 call (EBAY1221D35) entry $2.02 exit $1.82 (- 9.9%)

04/02/12 stopped out at $36.65
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


Ardea Biosciences - RDEA - close: 21.50 change: -0.26

Stop Loss: 21.40
Target(s): 24.90
Current Gain/Loss: - 5.5%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
04/02 update: RDEA underperformed again with a -1.1% decline on Monday. Shares traded under both the 20-dma and 300-dma and hit our stop loss at $21.40.

closed Position: Long RDEA stock @ $22.65 exit $21.40 (-5.5%)

04/02/12 stopped out at $21.40
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


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

Stop Loss: 26.49
Target(s): 32.50
Current Gain/Loss: - 6.2%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
04/02 update: STMP displayed relative weakness this morning with a sharp plunge to $26.25, near its simple 150-dma, before bouncing back and paring its losses to just 12 cents. Our stop loss was hit at $26.49. I didn't see any news behind the intraday volatility.

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)

closed Position: Long STMP stock @ $28.25 exit $26.49 (-6.2%)

- or -

Apr $30 call (STMP1221D30) Entry $0.85 exit $0.25* (-70.5%)

04/02/12 stopped out at $26.49
*option exit is an estimate. It did not trade at the time of our exit
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