Editor's Note:
Positive earnings results from big cap tech giant AAPL helped spark a widespread rebound in stocks on Wednesday. Participation in the rally among our newsletter candidates was definitely mixed with some stocks surging and others failing to participate.

Current Portfolio:


BULLISH Play Updates

Hain Celestial Group - HAIN - close: 46.79 change: +1.90

Stop Loss: 43.90
Target(s): 49.00
Current Gain/Loss: + 3.8%
Time Frame: exit prior to the May 3rd earnings report
New Positions: see below

Comments:
04/25 update: HAIN continues to show a lot of volatility the last few days. Today shares produced a sharp reversal higher. I couldn't find any news to explain the relative strength (+4.2%). If you're holding the May calls I would be tempted to exit early now and lock in a gain. 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: 29.86 change: +0.20

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

Comments:
04/25 update: The trading action in RUE was a bit disappointing. The stock only gained 20 cents and the rally reversed near its short-term trend of lower highs this morning. It still looks like RUE is forming a bull-flag consolidation pattern (with a really short flag pole) but the trend of higher lows is still intact. Readers may want to raise their stop loss closer to the simple 30-dma (near $29.00).

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: 11.14 change: -0.97

Stop Loss: 10.60
Target(s): 13.25
Current Gain/Loss: - 3.9%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
04/25 update: Ouch! I warned you last night that today would be rough for the SQQQ. AAPL is a big part of the NASDAQ-100 and the company knocked the ball out of the park with its earnings results last night. AAPL's +8.8% gain today helped fuel a +2.6% pop in the NDX index. The SQQQ lost -8.0%. More conservative traders may want to raise their stop loss closer to the $11.00 level. 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: 39.97 change: +0.36

Stop Loss: 42.20
Target(s): 37.50
Current Gain/Loss: + 2.6%
Time Frame: up to the May 2nd earnings report
New Positions: Yes, see below

Comments:
04/25 update: Shares of ABX underperformed its peers in the gold industry. The stock is struggling with resistance near $40.00. 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: 34.81 change: -0.17

Stop Loss: 36.60
Target(s): 31.00
Current Gain/Loss: + 0.6%
Time Frame: up to its May 10th earnings report
New Positions: see below

Comments:
04/25 update: The rally attempt in APEI didn't last that long and shares quickly reversed lower. I would use today's relative weakness as a new entry point for bearish 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: 39.79 change: +0.09

Stop Loss: 42.25
Target(s): 36.50
Current Gain/Loss: + 2.6%
Time Frame: up to its early May earnings report
New Positions: see below

Comments:
04/25 update: CGX underperformed the rest of the market again. The stock briefly traded above $40 this morning but eventually saw gains fade. The trend remains bearish. 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: 20.98 change: -0.11

Stop Loss: 22.26
Target(s): 18.00
Current Gain/Loss: + 3.3%
Time Frame: exit prior to the May 16th earnings report
New Positions: see below

Comments:
04/25 update: As we expected CTRP saw a spike higher this morning but we were fortunate the rally attempt quickly ran out of steam. CTRP eventually underperformed the market with a decline. 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: 18.30 change: -0.34

Stop Loss: 22.25
Target(s): 15.25
Current Gain/Loss: + 4.6%
Time Frame: exit prior to earnings in early May
New Positions: see below

Comments:
04/25 update: FSLT posted another loss (-1.8%) and set another record low. I am not suggesting new positions at this time.

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: 33.75 change: +1.23

Stop Loss: 35.05
Target(s): $30.50
Current Gain/Loss: + 1.9%
Time Frame: 2 to 4 weeks
New Positions: see below

Comments:
04/25 update: HITK took a big chunk out of our unrealized gains with a +3.7% gain today. The stock remains under resistance and a bearish trend of lower highs but I'm not suggesting new positions.

More conservative traders may want to lock in gains on a dip near $32.00. Currently we're aiming for $30.50.

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: 32.26 change: -0.09

Stop Loss: 34.85
Target(s): 30.25
Current Gain/Loss: - 0.7%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
04/25 update: IBN failed to participate in the market's widespread rally on Wednesday. There is no change from my prior comments. 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: 13.46 change: +1.42

Stop Loss: 14.05
Target(s): 11.50
Current Gain/Loss: - 2.9%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
04/25 update: I had warned readers that IMOS was a volatile stock and that shares might see a big bounce today but a +11.8% gain still hurts! IMOS rallied right to resistance near $14.00 and its 10-dma before starting to pare its gains. 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


Rovi Corp. - ROVI - close: 28.95 change: +0.99

Stop Loss: 30.25
Target(s): 26.25
Current Gain/Loss: + 1.1%
Time Frame: exit prior to the May 3rd earnings report
New Positions: see below

Comments:
04/25 update: Last night I cautioned readers that ROVI might bounce toward technical resistance at its 10-dma. That's exactly where the stock settled today. While the larger trend is still down today's +3.5% bounce still hurts.

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


Red Robin Gourmet Burgers - RRGB - close: 34.13 change: -0.51

Stop Loss: 35.55
Target(s): 31.50 or 200-Ema
Current Gain/Loss: unopened
Time Frame: exit prior to the mid May earnings report
New Positions: Yes, see below

Comments:
04/25 update: The stock market's broad-based rally today produced +1.5% gain in RRGB. If you look at the daily chart you'll see that shares still have a bearish trend of lower highs.

Currently I am suggesting a trigger to open small bearish positions at $33.75. We'll use a stop loss at $35.55 to start. Our target is $31.50 or the exponential 200-dma, whichever RRGB hits first. We do want to keep our position size small because the most recent data listed short interest at 12% of the very small 13.3 million share float. That does raise the risk of a possible short squeeze. You may want to trade the put options to limit your risk

Trigger @ $33.75

Suggested Position: short RRGB stock @ (trigger)

- or -

buy the May $35 PUT (RRGB1219Q35)

Entry on April xx at $ xx.xx
Earnings Date 05/17/12 (unconfirmed)
Average Daily Volume = 205 thousand
Listed on April 24, 2011


St. Jude Medical - STJ - close: 38.20 change: +0.31

Stop Loss: 40.05
Target(s): 34.25
Current Gain/Loss: - 2.0%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
04/25 update: STJ produced a bounce toward short-term technical resistance at its simple 10-dma. Readers may want to look for a new drop under $37.90 as an entry point for bearish positions.

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 BEARISH PLAYS

Blue Nile Inc. - NILE - close: 31.25 change: +0.85

Stop Loss: 32.51
Target(s): 26.00
Current Gain/Loss: - 4.6%
Time Frame: exit prior to the early May earnings report
New Positions: see below

Comments:
04/25 update: We have been concerned about the relative strength in NILE the last couple of days. Last night we decided to exit positions at the open this morning. NILE opened higher at $30.69.

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)

closed Position: short NILE stock @ $29.35, exit $30.69 (-4.6%)

- or -

May $30 PUT (NILE1219Q30) Entry $2.40 exit $1.65 (-31.2%)

04/25/12 planned exit
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.

chart:

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