Editor's Note:
It was an odd day for retail stocks with some underperforming and some outperforming the market.

Both TJX and KSS were stopped out.

Current Portfolio:


BULLISH Play Updates

ACI Worldwide, Inc. - ACIW - close: 43.13 change: -0.30

Stop Loss: 41.25
Target(s): 49.00
Current Gain/Loss: unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see below

Comments:
06/28/12 update: ACIW dipped to short-term support near $42.00 and its 10-dma before bouncing. Aggressive traders could use this intraday bounce as a new entry point (if the market opens positive tomorrow) but I am suggesting we stick to our plan and use a trigger to open positions at $44.05.
FYI: The Point & Figure chart for ACIW is bullish with a $56 target.

Trigger @ 44.05

Suggested Position: buy ACIW stock @ (trigger)

Entry on June xx at $ xx.xx
Earnings Date 07/26/12 (unconfirmed)
Average Daily Volume = 318 thousand
Listed on June 27, 2011


McMoRan Exploration - MMR - close: 12.70 change: +0.40

Stop Loss: 9.49
Target(s): 13.50
Current Gain/Loss: +22.7%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
06/28/12 update: MMR continues to shine. The stock is powering past resistance levels and surging to multi-week highs. The $13.00 level could be resistance so readers will want to seriously consider taking profits right here! The Aug. $10 call has risen to (bid) $3.05.

I am not suggesting new positions at this time.

Earlier Comments:
MMR could see a short squeeze. The most recent data listed short interest at 21% of the float. I do see potential resistance at $11.50 and the simple 200-dma but we're setting our multi-week target at $13.50.

current Position: Long MMR stock @ $10.35

- or -

Long Aug $10 call (MMR1218H10) Entry $1.45

06/28/12 the $13 level could be resistance. Readers will want to seriously consider taking profits right here!
06/19/12 triggered @ 10.35

Entry on June 19 at $10.35
Earnings Date 07/17/12 (unconfirmed)
Average Daily Volume = 2.5 million
Listed on June 18, 2011


Sprint-Nextel Corp. - S - close: 3.26 change: +0.13

Stop Loss: 2.89
Target(s): 3.70
Current Gain/Loss: + 4.2%
Time Frame: 6 to 9 weeks
New Positions: see below

Comments:
06/28/12 update: Sprint was also showing some relative strength today. The stock rallied +4.1% and is approaching its recent highs. The 300-dma near $3.30 could prove to be resistance. I am not suggesting new positions at this time.

current position: Long S stock @ $3.13

Entry on June 20 at $ 3.13
Earnings Date 07/26/12 (unconfirmed)
Average Daily Volume = 53 million
Listed on June 19, 2011


Six Flags Entertainment - SIX - close: 53.11 change: +0.12

Stop Loss: 49.95
Target(s): 56.50
Current Gain/Loss: + 2.0%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
06/28/12 update: SIX spent the session churning sideways but did close on its highs for the day. I am not suggesting new positions at this time.

Our target is $56.50. FYI: The Point & Figure chart for SIX is bullish with a $68 target.

current Position: Long SIX stock @ $52.05

06/26/12 triggered @ 52.05

Entry on June 26 at $52.05
Earnings Date 07/24/12 (before the opening bell)
Average Daily Volume = 512 thousand
Listed on June 25, 2011


Ventas, Inc. - VTR - close: 61.85 change: +0.86

Stop Loss: 57.90
Target(s): 64.50
Current Gain/Loss: + 3.6%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
06/28/12 update: VTR displayed relative strength and broke out to new all-time highs. Readers may want to consider raising their stop loss.

current Position: Long VTR stock @ $59.71

06/23/12 triggered on the gap down at $59.71
06/18/12 Entry point conditions were not met this morning.
Adjust strategy to buy a dip at $60.00.

Entry on June 25 at $59.71
Earnings Date 08/02/12 (unconfirmed)
Average Daily Volume = 1.9 million
Listed on June 16, 2011


Zumiez, Inc. - ZUMZ - close: 38.18 change: -1.09

Stop Loss: 38.40
Target(s): 44.00
Current Gain/Loss: unopened
Time Frame: 4 to 8 weeks
New Positions: Yes, see below

Comments:
06/28/12 update: ZUMZ underperformed today with a -2.7% decline. Shares are churning between resistance at $40 and potential support at the 50-dma. If ZUMZ does not improve soon we will drop it as a candidate.

Earlier Comments:
Shares of this action sports related apparel company could see a short squeeze. The most recent data listed short interest at 19.4% of the very small 22.3 million share float.

I am suggesting a trigger to launch bullish positions at $40.05. We'll aim for $44.00.

Trigger @ 40.05

Suggested Position: buy ZUMZ stock @ (trigger)

- or -

buy the Aug $45 call (ZUMZ1218H45)

Entry on June xx at $ xx.xx
Earnings Date 08/23/12 (unconfirmed)
Average Daily Volume = 531 thousand
Listed on June 26, 2011


BEARISH Play Updates

Acme Packet, Inc. - APKT - close: 17.96 change: +0.12

Stop Loss: 21.05
Target(s): 17.00
Current Gain/Loss: + 9.7%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
06/28/12 update: Thursday was a quiet session for APKT with the stock churning sideways under the $18.00 level. Readers may want to take profits now. I am not suggesting new positions at this time.

Earlier Comments:
More aggressive traders could aim lower since the Point & Figure chart for APKT is bearish with a $13.00 target. We want to keep our position size small since being short APKT is a popular position. The most recent data listed short interest at 18.7% of the 58.2 million share float.

*Small Positions*

current Position: short APKT stock @ $19.90

- or -

buy the Jul $20 PUT (APKT1221S20) entry $1.50

06/28/12 readers may want to take profits now
06/25/12 triggered @ 19.90

Entry on June 25 at $19.90
Earnings Date 07/19/12 (unconfirmed)
Average Daily Volume = 1.6 million
Listed on June 21, 2011


BJ's Restaurants, Inc. - BJRI - close: 37.01 change: -0.13

Stop Loss: 39.35
Target(s): 35.10
Current Gain/Loss: + 1.8%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
06/28/12 update: BJRI hit a new 52-week low, trading under $37.00, on an intraday basis. Shares should have short-term resistance near $38.00 and its 10-dma if BJRI manages a bounce. I am not suggesting new positions at this time.

Earlier Comments:
Let me warn you now that being short BJRI is a popular position with the most recent data listing short interest at 22% of the very small 24.5 million share float. That does raise the risk of a short squeeze. Readers may want to keep their position size small or play the options instead.

current Position: short BJRI stock @ $37.69

- or -

Long Jul $40 PUT (BJRI1221S40) Entry $2.86

06/25/12 triggered on gap down at $37.69

Entry on June 25 at $37.69
Earnings Date 07/19/12 (unconfirmed)
Average Daily Volume = 496 thousand
Listed on June 23, 2011


Eaton Corp. - ETN - close: 37.48 change: -0.09

Stop Loss: 38.51
Target(s): 35.25
Current Gain/Loss: +5.2%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
06/28/12 update: ETN is little changed for the day. Shares continue to churn sideways inside the $37-38 zone. Readers may want to take profits now.

current Position: short ETN stock @ $39.54

- or -

Long Jul $40 PUT (ETN1221S40) Entry $1.45

Entry on June 21 at $39.54
Earnings Date 07/23/12 (unconfirmed)
Average Daily Volume = 5.7 million
Listed on June 20, 2011


7 Days Group Holdings Ltd. - SVN - close: 10.21 change: +0.11

Stop Loss: 10.65
Target(s): 8.50
Current Gain/Loss: unopened
Time Frame: 3 to 6 weeks
New Positions: Yes, see below

Comments:
06/28/12 update: SVN came close but the stock did not hit our trigger to open positions. The stock dipped to $9.96 before bouncing. Currently, I am suggesting a trigger to open small bearish positions at $9.95. If triggered we'll use a stop loss at $10.65, just above today's high. Our exit target is $8.50.

Trigger @ 9.95*SMALL Positions*

Suggested Position: short SVN stock @ (trigger)

Entry on June xx at $ xx.xx
Earnings Date 08/16/12 (unconfirmed)
Average Daily Volume = 88.7 thousand
Listed on June 27, 2011


CLOSED BULLISH PLAYS

The TJX Companies - TJX - close: 41.60 change: -0.65

Stop Loss: 41.15
Target(s): 47.00
Current Gain/Loss: - 4.8%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
06/28/12 update: The relative weakness in TJX was a bit surprising. The stock broke down under a small cloud of moving averages including the 20, 30, 40, and 50-dma. Our stop loss was hit at $41.15.

closed Position: Long TJX stock @ $43.24 exit $41.15 (-4.8%)

- or -

Jul $45 call (TJX1221G45) Entry $0.40 exit $0.05 (-87.5%)

06/28/12 stopped out at $41.15
06/27/12 TJX hit $42.00 as expected.

chart:

Entry on June 19 at $43.24
Earnings Date 08/14/12 (unconfirmed)
Average Daily Volume = 5.7 million
Listed on June 18, 2011


CLOSED BEARISH PLAYS

Kohl's Corp. - KSS - close: 44.55 change: +0.99

Stop Loss: 44.26
Target(s): 40.10 & 38.00
Current Gain/Loss: - 2.8%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
06/28/12 update: It was an odd day for retail stocks. TJX sank while KSS rallied. Shares of KSS outperformed the market with a +2.2% gain and hit our stop loss at $44.26.

closed Position: short KSS stock @ $43.05 exit $44.26 (-2.8%)

- or -

Jul $42 PUT (KSS1221S42) Entry $0.85 exit $0.45 (-47.0%)

06/28/12 stopped out at $44.26
06/25/12 trade opened on gap down at $43.05 (below our trigger of 43.20)

chart:

Entry on June 25 at $43.05
Earnings Date 08/09/12 (unconfirmed)
Average Daily Volume = 4.75 million
Listed on June 23, 2011