Editor's Note:
The VIX volatility index didn't see that much movement today but we're definitely seeing more volatility in individual stocks. SKUL, COG, and IPGP were stopped out and UTIW and APEI were triggered.

Current Portfolio:


BULLISH Play Updates

Hain Celestial Group - HAIN - close: 45.19 change: +0.18

Stop Loss: 42.75
Target(s): 49.00
Current Gain/Loss: + 0.3%
Time Frame: up to its early May earnings report
New Positions: see below

Comments:
04/19 update: HAIN is slowly churning higher but odds are the stock will close near $45.00 with tomorrow being an options expiration Friday. I am not suggesting new positions at this time but a rally past $45.50 might change my mind.

current Position: long HAIN stock @ $45.05

- or -

Long May$45 call (HAIN1219E45) Entry $1.85

04/03/12 triggered @ 45.05

Entry on April 03 at $45.05
Earnings Date 05/03/12 (unconfirmed)
Average Daily Volume = 279 thousand
Listed on April 02, 2011


rue21, Inc. - RUE - close: 29.90 change: -0.60

Stop Loss: 28.45
Target(s): 33.50
Current Gain/Loss: - 1.1%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
04/19 update: RUE underperformed today with a -1.9% drop. Shares also filled the gap from the 17th of April. Traders did buy the dip twice today near $29.45 so I'm not concerned yet. Readers may want to wait for a new rise past $30.25 before considering new bullish positions.

Our multi-week target is $33.50. We want to exit prior to the late May earnings report. FYI: The Point & Figure chart for RUE is bullish with a long-term $48.00 target.

(small positions)

Suggested Position: Long RUE stock @ $30.25

- or -

Long May $30 call (RUE1219E30) Entry $1.70

04/17/12 triggered at $30.25

Entry on April 17 at $30.25
Earnings Date 05/24/12 (unconfirmed)
Average Daily Volume = 304 thousand
Listed on April 164, 2011


ProShares UltraPro Short QQQ - SQQQ - close: 11.48 change: +0.35

Stop Loss: 10.60
Target(s): 13.25
Current Gain/Loss: - 1.0%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
04/19 update: The SQQQ was showing some volatility this morning and shares traded under short-term technical support at its 10 and 20-dma before reversing higher. By the closing bell shares were up +3.1%.

Remember, this is the triple inverse ETF on the QQQ so expect volatility.

current Position: Long SQQQ @ $11.60

- or -

Long May $12.00 call (SQQQ1219E12) Entry $0.73

04/16/12 triggered at $11.60

Entry on April 16 at $11.60
Earnings Date --/--/--
Average Daily Volume = 2.3 million
Listed on April 10, 2011


TIBCO Software - TIBX - close: 33.71 change: -0.49

Stop Loss: 31.40
Target(s): 35.75
Current Gain/Loss: + 0.6%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
04/19 update: TIBX retreated with a -1.4% decline. The overall trend is still up but I am cautious here with the major averages looking vulnerable to more selling pressure. No new positions at this time.

FYI: The Point & Figure chart for TIBX is bullish with a $58.00 target.

Current Position: Long TIBX stock @ $33.50

- or -

Long May $34 call (TIBX1219E34) Entry $1.30

04/13/12 triggered at $33.50

Entry on April 13 at $33.50
Earnings Date 03/29/12 (already announced)
Average Daily Volume = 3.1 million
Listed on April 12, 2011


UTi Worldwide Inc. - UTIW - close: 17.30 change: -0.23

Stop Loss: 16.65
Target(s): 19.50
Current Gain/Loss: - 2.5%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
04/19 update: Warning! Today's action in UTIW is bearish. The stock saw a spike higher to $17.91 and then an immediate reversal. Shares closed with a -1.3% decline. UTIW looks poised to drop toward $17.00 soon. Unfortunately our trigger to launch positions was hit at $17.75.

I am not suggesting new positions at this time. Bears could argue that today looks like the second half to a bearish double top pattern.

We want to keep our position size small. FYI: The Point & Figure chart for UTIW is bullish with a $22.00 target.

(small positions)

current Position: Long UTIW stock @ $17.75

04/19/12 triggered at $17.75

Entry on April 19 at $17.75
Earnings Date 06/07/12 (unconfirmed)
Average Daily Volume = 443 thousand
Listed on April 17, 2011


BEARISH Play Updates

American Public Education - APEI - close: 35.09 change: -0.06

Stop Loss: 37.05
Target(s): 31.00
Current Gain/Loss: - 1.0%
Time Frame: up to its May 10th earnings report
New Positions: see below

Comments:
04/19 update: Our new play on APEI has been triggered at $34.75. the intraday rebound is a little bit worrisome. More conservative traders could wait for a bounce near $36.00 or the 10-dma as an alternative entry point.

Earlier Comments:
The plan was to limit our risk with small positions. Our exit target is $31.00 but we do not want to hold over the May 10th earnings report. This is a higher-risk trade. Lots of investors think APEI is going lower and the most recent data listed short interest at 20% of the very small 16.8 million share float. That does raise the risk of a short squeeze. You may want to limit your exposure by trading options.

(small positions)

Suggested Position: short APEI stock @ $34.75

- or -

Long May $35 PUT (APEI1219Q35) Entry $2.10

04/19/12 triggered at $34.75

Entry on April 19 at $34.75
Earnings Date 05/10/12 (unconfirmed)
Average Daily Volume = 202 thousand
Listed on April 18, 2011


Barrick Gold - ABX - close: 40.95 change: -0.14

Stop Loss: 42.55
Target(s): 37.50
Current Gain/Loss: + 0.2%
Time Frame: up to the May 2nd earnings report
New Positions: Yes, see below

Comments:
04/19 update: ABX is not moving very much. I am not expecting any big moves tomorrow since it's option expiration Friday. Readers may want to wait for a new drop under $40.65 before initiating positions.

More conservative traders may want to wait for a breakdown below $40.00 before initiating positions instead. Our exit target is $37.50. We do not want to hold over the early May earnings report.
FYI: The Point & Figure chart for ABX is bearish with a $32.00 target.

(small positions)

current Position: short ABX stock @ $41.02

- or -

Long May $40 PUT (ABX1219Q40) Entry $1.13

Entry on April 17 at $41.02
Earnings Date 05/02/12 (unconfirmed)
Average Daily Volume = 7.9 million
Listed on April 164, 2011


Ctrip.com Intl. - CTRP - close: 21.11 change: +0.06

Stop Loss: 22.51
Target(s): 18.00
Current Gain/Loss: + 2.7%
Time Frame: exit prior to the May 16th earnings report
New Positions: see below

Comments:
04/19 update: CTRP saw an intraday spike higher toward the top of its sideways trading range near $22.00. The rebound failed but it reinforces the $20.65-22.00 trading range.

Our plan was to exit our April $21 puts at the close today.

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 -

Apr $21 PUT (CTRP1221P21) Entry $0.65 exit $0.10 (-84.6%)

04/19/12 planned exit for the April puts: 10 cents (-84.6%)
04/18/12 prepare to exit the April $21 puts at the close tomorrow
04/12/12 new stop loss @ 22.51

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


DeVry, Inc. - DV - close: 32.33 change: +0.33

Stop Loss: 33.25
Target(s): 30.25
Current Gain/Loss: + 0.6%
Time Frame: up to the April 24th earnings report
New Positions: see below

Comments:
04/19 update: Hmm... DV was showing relative strength today. If the market were to cooperate I would not be surprised to see DV breakout higher. Fortunately the major indices look weak here. I'm not suggesting new positions in DV and more conservative traders may want to tighten their stop loss.

current Position: short DV stock @ $32.54

04/14/12 new stop loss @ 33.25
04/10/12 new stop loss @ 34.05
04/09/12 DV gapped open lower at $32.54

Entry on April 09 at $32.54
Earnings Date 04/24/12 (confirmed)
Average Daily Volume = 670 thousand
Listed on April 07, 2011


Hi Tech Pharmacal - HITK - close: 33.48 change: -0.55

Stop Loss: 35.55
Target(s): 300-dma (moving target)
Current Gain/Loss: + 2.7%
Time Frame: 2 to 4 weeks
New Positions: see below

Comments:
04/19 update: HITK has produced another failed rally under resistance near its 200-dma. Today's move looks like a new bearish entry point. Our target is the 300-dma (currently at $31.31) but more aggressive traders may want to aim for the $30.00 level.

The plan was to exit our April $35 put at the close today.

current Position: short HITK stock @ $34.40

- or -

Apr $35 PUT (HITK1221P35) Entry $1.50 exit $1.30 (-13.3%)

04/19/12 planned exit for our April put: $1.30 (-13.3%)
04/18/12 prepare to exit our April $35 puts at the close tomorrow
04/14/12 new stop loss @ 35.55
04/10/12 triggered at $34.40

Entry on April 10 at $34.40
Earnings Date 07/05/12 (unconfirmed)
Average Daily Volume = 155 thousand
Listed on April 09, 2011


ICICI Bank Ltd. - IBN - close: 33.62 change: -0.13

Stop Loss: 34.85
Target(s): 30.25
Current Gain/Loss: unopened
Time Frame: 3 to 6 weeks
New Positions: Yes, see below

Comments:
04/19 update: IBN slowly drifted lower today. There is no change from my weekend comments. We are waiting for a breakdown.

I am suggesting a trigger to launch bearish positions at $32.75 with a stop loss at $34.85, just above Thursday's high. Our target is $30.25. More aggressive traders could aim lower.

Trigger @ 32.75

Suggested Position: short IBN stock @ (trigger)

- or -

buy the May $32 PUT (IBN1219Q32)

Entry on April xx at $ xx.xx
Earnings Date --/--/-- (unconfirmed)
Average Daily Volume = 1.9 million
Listed on April 14, 2011


Rovi Corp. - ROVI - close: 28.75 change: -0.73

Stop Loss: 30.55
Target(s): 26.25
Current Gain/Loss: + 1.8%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
04/19 update: The early morning bounce attempt reversed and ROVI fell to a -2.4% decline. I would still consider new bearish positions at current levels.

Earlier Comments:
There is potential support near $28.00 and $26.00. We are setting our exit target at $26.25.

open positions on Monday morning

Suggested Position: short ROVI stock @ $29.27

- or -

Long MAY $30 PUT (ROVI1219Q30) Entry $2.45

Entry on April 16 at $29.27
Earnings Date 05/10/12 (unconfirmed)
Average Daily Volume = 1.2 million
Listed on April 14, 2011


CLOSED BULLISH PLAYS

Skullcandy - SKUL - close: 16.00 change: -0.79

Stop Loss: 15.75
Target(s): 19.70
Current Gain/Loss: - 5.9%
Time Frame: up to its May earnings report
New Positions: see below

Comments:
04/19 update: Ouch! SKUL had been showing a lot of promise. Unfortunate shares have corrected sharply lower the last few days. Today the sell-off accelerated and the stock broke down through potential support at $16.00 and its exponential 200-dma. Our stop loss was hit at $15.75. Oddly I could not find any specific news behind today's relative weakness.

Earlier Comments:
Shares of this headphone and audio accessory maker could see a big short squeeze soon. The most recent data listed short interest at 123% of the very small 8.3 million-share float. Yes. That was 123%.

closed Position: Long SKUL stock @ $16.75 exit $15.75 (-5.9%)

- or -

May $17.50 call (SKUL1219E17.5) Entry $0.85 exit $0.25 (-70.5%)

04/19/12 stopped out at $15.75
04/05/12 triggered at $16.75

chart:

Entry on April 05 at $16.75
Earnings Date 05/09/12 (unconfirmed)
Average Daily Volume = 453 thousand
Listed on April 03, 2011


CLOSED BEARISH PLAYS

Cabot Oil & Gas - COG - close: 30.98 change: +0.46

Stop Loss: 31.25
Target(s): 25.50
Current Gain/Loss: - 6.3%
Time Frame: up to the earnings report on April 25th
New Positions: see below

Comments:
04/19 update: Our aggressive trade on COG did not pan out. The oversold bounce continues and today saw a breakout above some technical resistance. Our stop loss was hit at $31.25.

Earlier Comments:
The trend is down and COG appears to have formed a massive head-and-shoulder pattern (whish is bearish). Yet before you get too enthusiastic here I want to warn you that prior breakdowns under $30.00 have yet to stick. Plus the stock has spiked higher a couple of times on rumors that COG was a takeover target. Therefore we want to keep our positions small to limit our risk.

(small positions)

closed Position: short COG stock @ $29.40 exit $31.25 (-6.3%)

- or -

May $28 PUT (COG1219Q28) Entry $1.15 exit $0.45 (-60.8%)

04/19/12 stopped out at $31.25

chart:

Entry on April 16 at $29.40
Earnings Date 04/25/12 (unconfirmed)
Average Daily Volume = 4.0 million
Listed on April 11, 2011


IPG Photonics - IPGP - close: 50.10 change: +0.82

Stop Loss: 50.75
Target(s): 42.50
Current Gain/Loss: - 4.3%
Time Frame: up to its May 1st earnings report
New Positions: see below

Comments:
04/19 update: I couldn't find any news behind today's +1.6% pop in shares of IPGP today. The stock saw an intraday rise to $51.06, and hit our stop loss at $50.75 along the way. The overall pattern still looks bearish so readers may want to keep an eye on IPGP for new drop under $48.00.

Earlier Comments:
We want to keep our position size small because there is a risk of a short squeeze if the market suddenly bounces. The most recent data listed short interest at 17.5% of the 37.1 million-share float.

(Small Positions)

closed Position: short IPGP stock @ $48.67 exit $50.75 (-4.3%)

- or -

May $45 PUT (IPGP1219Q45) Entry $1.97 exit $0.95 (-51.7%)*

04/19/12 stopped out at $50.75
*option exit is an estimate. option didn't trade at the time our play was stopped out.

chart:

Entry on April 16 at $48.67
Earnings Date 05/01/12 (confirmed)
Average Daily Volume = 400 thousand
Listed on April 14, 2011