Editor's Note:
Shares of DeVry Inc. accelerated lower this morning and hit our exit target near $30. Meanwhile weakness in tech stocks pushed TIBX to our stop loss. I am suggesting an early exit for our NILE trade.

Current Portfolio:


BULLISH Play Updates

Hain Celestial Group - HAIN - close: 44.89 change: -0.30

Stop Loss: 43.90
Target(s): 49.00
Current Gain/Loss: - 0.3%
Time Frame: exit prior to the May 3rd earnings report
New Positions: see below

Comments:
04/24 update: Hmm... it's not looking too great for our HAIN trade. Yesterday's move was a bearish reversal candlestick and today's drop could be considered confirmation. More conservative traders will want to seriously consider an early exit right now. The larger trend is still up so we will keep the trade open with a stop loss at $43.90. I am not suggesting new positions at this time.

current Position: long HAIN stock @ $45.05

- or -

Long May$45 call (HAIN1219E45) Entry $1.85

04/21/12 new stop loss @ 43.90
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: 29.66 change: -0.76

Stop Loss: 28.45
Target(s): 33.50
Current Gain/Loss: - 1.9%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
04/24 update: RUE also underperformed the market today with a -2.5% pullback but shares remain inside its larger up trend. We have a stop at $28.45 but more conservative traders may want to inch their stops closer to the 30-dma (currently 28.95). I am not suggesting new positions at this time.

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: 12.11 change: +0.21

Stop Loss: 10.60
Target(s): 13.25
Current Gain/Loss: + 4.4%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
04/24 update: Buckle your seat belt because tomorrow could be a bumpy ride in the SQQQ. Today the ETF marched higher and posted a +1.7% gain thanks to another day of weakness in the NASDAQ-100 index. However, that will likely change tomorrow thanks to Apple Inc. (AAPL). After the closing bell tonight AAPL blew away Wall Street's earnings estimates and the stock is trading up +40 near $600 a share. That's going to give the NASDAQ-100 index a big boost tomorrow, which will show up as a drop in the SQQQ. I am expecting a gap down tomorrow for this ETF.

I am not suggesting new positions at this time.

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


BEARISH Play Updates

Barrick Gold - ABX - close: 39.61 change: -0.08

Stop Loss: 42.20
Target(s): 37.50
Current Gain/Loss: + 3.4%
Time Frame: up to the May 2nd earnings report
New Positions: Yes, see below

Comments:
04/24 update: ABX spiked toward round-number support/resistance near $40.00 and reversed lower. This is good news if you're bearish. I am not suggesting new bearish positions at this time.

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

04/21/12 new stop loss @ 42.20

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


American Public Education - APEI - close: 34.98 change: +0.49

Stop Loss: 36.60
Target(s): 31.00
Current Gain/Loss: - 0.7%
Time Frame: up to its May 10th earnings report
New Positions: see below

Comments:
04/24 update: APEI just erased most of yesterday's decline. The oversold bounce may not be over yet. Readers might want to wait for a bounce toward short-term technical support at the 10-dma (near 35.85) before considering new positions.

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

04/23/12 new stop loss @ 36.60
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


Consolidated Graphics - CGX - close: 39.70 change: +0.05

Stop Loss: 42.25
Target(s): 36.50
Current Gain/Loss: + 2.8%
Time Frame: up to its early May earnings report
New Positions: see below

Comments:
04/24 update: Tuesday proved to be a quiet day for CGX with shares drifting sideways in a narrow range. I am not suggesting new positions at this time.

Bear in mind that we may have to exit early ahead of the early May earnings report. FYI: The Point & Figure chart for CGX is bearish with a $28.00 target.

(small positions)

current Position: short CGX stock @ $40.85

04/23/12 new stop loss @ 42.25
04/20/12 triggered at $40.85

Entry on April 20 at $40.85
Earnings Date 05/01/12 (unconfirmed)
Average Daily Volume = 45 thousand
Listed on April 19, 2011


Ctrip.com Intl. - CTRP - close: 21.09 change: +0.15

Stop Loss: 22.26
Target(s): 18.00
Current Gain/Loss: + 2.8%
Time Frame: exit prior to the May 16th earnings report
New Positions: see below

Comments:
04/24 update: CTRP spent the day drifting sideways in a narrow range. That could change tomorrow. Tech stocks are likely to rally on the heels of AAPL's earnings report. We could see CTRP rise toward resistance at the top of its trading range near $21.80-22.00. Nimble traders could use a drop under $20.50 as a new entry point.

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

04/21/12 new stop loss @ 22.26
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


First Solar, Inc. - FSLR - close: 18.64 change: -0.61

Stop Loss: 22.25
Target(s): 15.25
Current Gain/Loss: + 2.9%
Time Frame: exit prior to earnings in early May
New Positions: see below

Comments:
04/24 update: Our new bearish trade on FSLR is off to a good start. Shares opened at $19.19 and fell to a -3.1% decline for the day. This is another record low. The stock IPO'd back in 2006 at $20. Now there is speculation growing that FSLR could get kicked out of the S&P 500 because it's market cap is too low (at $1.7 billion).

We have a stop loss at $22.25. More conservative traders may want to use a tighter stop but I want to warn you that FSLR shares can be volatile.

Earlier Comments:
Broken support at $20.00 should be new resistance. Please note that we want to keep our position size small to limit our risk because the most recent data listed short interest at 42% of the 59.8 million share float. That does raise the risk of a short squeeze. Readers might want to use put options to really limit risk.

(small positions)

current Position: short FSLR stock @ $19.19

- or -

Long May $18 PUT (FSLR1219Q18) Entry $1.36

Entry on April 24 at $19.19
Earnings Date 05/03/12 (unconfirmed)
Average Daily Volume = 7.1 million
Listed on April 23, 2011


Hi Tech Pharmacal - HITK - close: 32.52 change: -0.22

Stop Loss: 35.05
Target(s): $30.50
Current Gain/Loss: + 5.5%
Time Frame: 2 to 4 weeks
New Positions: see below

Comments:
04/24 update: HITK underperformed the market today with a -0.6% decline. The stock is nearing possible support at its April 16th low and its simple 300-dma. More conservative traders may want to lock in gains on a dip near $32.00. Currently we're aiming for $30.50. I'm not suggesting new positions at this time.

current Position: short HITK stock @ $34.40

04/21/12 new stop loss @ 35.05, adjust exit target to $30.50
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: 32.35 change: -0.26

Stop Loss: 34.85
Target(s): 30.25
Current Gain/Loss: - 0.9%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
04/24 update: Trading in IBN was very quiet with shares slowly drifting sideways. I would still consider new bearish positions here or you could wait for a new failed rally near $33.00, which should be new overhead resistance.

Our target is $30.25. More aggressive traders could aim lower.

Suggested Position: short IBN stock @ 32.05

- or -

Long May $32 PUT (IBN1219Q32) Entry $1.32

04/23/12 triggered on gap down at $32.05, trigger was 32.75

Entry on April 23 at $32.05 (gap down)
Earnings Date --/--/-- (unconfirmed)
Average Daily Volume = 1.9 million
Listed on April 14, 2011


ChipMOS Tech. - IMOS - close: 12.04 change: -0.75

Stop Loss: 14.35
Target(s): 11.50
Current Gain/Loss: + 8.0%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
04/24 update: The sell-off in IMOS is accelerating lower with a -5.8% decline today. Our trade is up +8% and readers may want to take profits now. The stock could see a bounce tomorrow since AAPL could lead a rally in technology stocks tomorrow.

I am lowering our stop loss to $14.05. I'm not suggesting new positions at this time.

The plan was to keep our position size small to limit our risk. IMOS can be a volatile stock. FYI: The Point & Figure chart for IMOS is bearish with a $8.00 target.

(small positions)

current Position: short IMOS stock @ $13.08

- or -

Long May $12.50 PUT (IMOS1219Q12.5) Entry $0.99

04/24/12 new stop loss @ 14.05, readers may want to take profits now with our trade up +8%.

Entry on April 23 at $13.08
Earnings Date 05/14/12 (unconfirmed)
Average Daily Volume = 356 thousand
Listed on April 21, 2011


Blue Nile Inc. - NILE - close: 30.40 change: +0.31

Stop Loss: 32.51
Target(s): 26.00
Current Gain/Loss: - 3.6%
Time Frame: exit prior to the early May earnings report
New Positions: see below

Comments:
04/24 update: I am suggesting an early exit on our NILE trade. Traders bought the dip yesterday near its April low. They bought the dip again this afternoon. I suspect we will see NILE bounce toward overhead resistance near its 30-dma (approaching $32.00). While the larger trend is still down I would rather exit early now and cut our losses and then we can wait and watch for a new entry point down the road. We will exit positions at the open tomorrow morning.

Earlier Comments:
The plan was to keep our position size small to limit our risk. The most recent data listed short interest at 31% of the very small 13.7 million share float. That does raise the risk of a short squeeze. You may want to use options to limit your risk.

(small positions)

current Position: short NILE stock @ $29.35

- or -

May $30 PUT (NILE1219Q30) Entry $2.40

04/24/12 prepare to exit at the open tomorrow morning
04/23/12 Warning! NILE has reversed higher. This could be a bullish double bottom. Readers may want to exit immediately to limit losses.

Entry on April 23 at $29.35
Earnings Date 05/03/12 (unconfirmed)
Average Daily Volume = 246 thousand
Listed on April 21, 2011


Rovi Corp. - ROVI - close: 27.96 change: -0.31

Stop Loss: 30.25
Target(s): 26.25
Current Gain/Loss: + 4.5%
Time Frame: exit prior to the May 3rd earnings report
New Positions: see below

Comments:
04/24 update: ROVI quietly drifted lower on Tuesday and ended the session with a -1.0% decline. Look for overhead resistance at the 10-dma and the $30.00 level.

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

04/23/12 new stop loss @ 30.25

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


St. Jude Medical - STJ - close: 37.89 change: +0.06

Stop Loss: 40.05
Target(s): 34.25
Current Gain/Loss: - 1.2%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
04/24 update: STJ produced a minor bounce back toward prior support and now new short-term resistance at the $38.00 level. Readers can still launch positions here or wait for a failed rally near the 10-dma. More conservative traders may want to use a stop near the simple 150-dma currently at $39.10.

Our target is $34.25. FYI: The Point & Figure chart for STJ is bearish with a $31.00 target.

current Position: short STJ stock @ $37.45

- or -

Long May $37.50 PUT (STJ1219Q37.5) Entry $1.20

04/23/12 new stop loss @ 40.05
04/23/12 triggered at $37.45

Entry on April 23 at $37.45
Earnings Date 04/18/12
Average Daily Volume = 5.1 million
Listed on April 21, 2011


CLOSED BULLISH PLAYS

TIBCO Software - TIBX - close: 31.54 change: -1.36

Stop Loss: 31.65
Target(s): 35.75
Current Gain/Loss: - 5.5%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
04/24 update: Technology stocks were showing relative weakness today. TIBX was no exception. The stock really underperformed with a -4.1% decline. The stock has broken the bullish trend line of higher lows and hit our stop loss at $31.65 in the process.

closed Position: Long TIBX stock @ $33.50 exit $31.65 (-5.5%)

- or -

May $34 call (TIBX1219E34) Entry $1.30 exit $0.35 (-73.7%)

04/24/12 stopped out at $31.65
04/23/12 new stop loss @ 31.65
04/13/12 triggered at $33.50

chart:

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


CLOSED BEARISH PLAYS

DeVry, Inc. - DV - close: 30.91 change: -0.17

Stop Loss: 32.70
Target(s): 30.25
Current Gain/Loss: + 7.0%
Time Frame: up to the April 24th earnings report
New Positions: see below

Comments:
04/24 update: We had planned to exit our DV trade at the close tonight but shares hit our exit target at $30.25 instead.

closed Position: short DV stock @ $32.54 exit $30.25 (+7.0%)

04/24/12 target hit at $30.25
04/23/12 new stop loss @ 32.70, exit tomorrow at the close
04/21/12 prepare to exit on Tuesday at the closing bell
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

chart:

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