Editor's Note:
We had three trades hit our trigger to open positions on Tuesday (ZUMZ, AET, and EDU). Our ETN trade was stopped out.

We have updated several stop losses tonight!

Current Portfolio:


BULLISH Play Updates

ACI Worldwide, Inc. - ACIW - close: 45.11 change: +0.90

Stop Loss: 43.75
Target(s): 49.00
Current Gain/Loss: + 4.4%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
07/03/12 update: ACIW continues to perform very well. Shares are up three days in a row with a +1.9% gain on Tuesday. The stock is arguably short-term overbought here and due for a dip. I would look for short-term support near $44 0r the 10-dma.

We are raising our stop loss up to $43.75. FYI: The Point & Figure chart for ACIW is bullish with a $56 target.

current Position: Long ACIW stock @ $44.05

07/03/12 new stop loss @ 43.75
06/29/12 triggered @ 44.05

Entry on June 29 at $44.05
Earnings Date 07/26/12 (unconfirmed)
Average Daily Volume = 318 thousand
Listed on June 27, 2011


Sprint-Nextel Corp. - S - close: 3.47 change: +0.07

Stop Loss: 3.18
Target(s): 3.70
Current Gain/Loss: +10.9%
Time Frame: 6 to 9 weeks
New Positions: see below

Comments:
07/03/12 update: Sprint continues to climb and added another +2.0% today. More conservative traders may want to take profits now with our trade up +10%. We are raising our stop loss to $3.18. I am not suggesting new positions at this time.

current position: Long S stock @ $3.13

07/03/12 new stop loss @ 3.18

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: 54.43 change: -0.06

Stop Loss: 53.25
Target(s): 56.50
Current Gain/Loss: + 4.7%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
07/03/12 update: Hmm... I am starting to think the rally in SIX has stalled and it might be time for a little pullback. I would not be surprised to see a dip back toward the $53.50 area. We are going to try and reduce our risk by raising the stop loss to $53.25. I am not suggesting new positions at this time.

current Position: Long SIX stock @ $52.05

07/03/12 new stop loss @ 53.25
06/30/12 new stop loss @ 51.75
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: 63.85 change: +0.50

Stop Loss: 62.45
Target(s): 64.50
Current Gain/Loss: + 6.9%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
07/03/12 update: VTR almost hit our exit target today. Shares rallied to $64.25 before paring its gains. Our exit target is $64.50. VTR looks a little short-term overbought here and due for a dip so readers may want to exit early now. I am raising our stop loss up to $62.45. I'm not suggesting new positions at this time.

current Position: Long VTR stock @ $59.71

07/03/12 new stop loss @ 62.45
06/30/12 new stop loss @ 60.20
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: 40.19 change: +0.20

Stop Loss: 38.40
Target(s): 44.00
Current Gain/Loss: - 0.3%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
07/03/12 update: Our ZUMZ trade is finally open with today's bullish breakout over resistance at $40.00. Our trigger to launch positions was hit at $40.30. The retail stocks could see some volatility on Thursday as traders react to June same-store sales data. If you missed today's entry I'd wait for a new rise past $40.30 before launching positions.

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.

current Position: Long ZUMZ stock @ $40.30

- or -

Long Aug $45 call (ZUMZ1218H45) Entry $0.70

07/03/12 triggered @ 40.30
06/30/12 adjusted entry trigger to $40.30

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

Aetna Inc. - AET - close: 38.15 change: -0.42

Stop Loss: 39.55
Target(s): 35.10
Current Gain/Loss: + 0.8%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
07/03/12 update: Our AET trade is open. Shares hit our trigger to launch bearish positions at $38.45 this morning and the stock underperformed the market with a -1.0% decline. I would still consider new positions now.

Please note we are adjusting our stop loss down to $39.55. FYI: The Point & Figure chart for AET is bearish with a $29 target.

current Position: short AET stock @ $38.45

- or -

Long Aug $38 PUT (AET1218T38) Entry $1.65

07/03/12 new stop loss @ 39.55
07/03/12 triggered @ 38.45

Entry on July 03 at $38.45
Earnings Date 07/31/12 (unconfirmed)
Average Daily Volume = 6.0 million
Listed on June 30, 2011


Acme Packet, Inc. - APKT - close: 18.41 change: +0.21

Stop Loss: 19.25
Target(s): 17.00
Current Gain/Loss: +7.5%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
07/03/12 update: Tuesday proved to be a very quiet day for APKT. The stock gapped open higher a little bit and then drifted sideways in a narrow range the rest of the session.

We are adjusting our stop loss lower to $19.25. 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

07/03/12 new stop loss @ 19.25
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: 37.72 change: -0.05

Stop Loss: 38.55
Target(s): 35.10
Current Gain/Loss: - 0.1%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
07/03/12 update: It was also a very quiet day for BJRI with the stock moving sideways in a narrow range on Tuesday. We are adjusting our stop loss lower to $38.55. 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

07/03/12 new stop loss @ 38.55
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


New Oriental Education - EDU - close: 24.00 change: -0.01

Stop Loss: 24.85
Target(s): 22.00
Current Gain/Loss: - 0.6%
Time Frame: exit prior to the July 17th earnings
New Positions: see below

Comments:
07/03/12 update: Hmm... EDU closed virtually unchanged on the session. Yet there was a very brief spike lower this morning. EDU hit our trigger to launch bearish positions at $23.85 and then quickly bounced back. Our trade is open but I would wait for a new drop under $23.80 before initiating new positions.

Please note that we are tweaking our stop loss to $24.85.

current Position: short EDU stock @ $23.85

- or -

Long JUL $24 PUT (EDU1221S24) Entry $1.50

07/03/12 adjust stop loss to $24.85
07/03/12 triggered @ 23.85

Entry on July 03 at $23.85
Earnings Date 07/17/12 (confirmed)
Average Daily Volume = 820 thousand
Listed on July 02, 2011


First Solar Inc. - FSLR - close: 15.67 change: +0.39

Stop Loss: 15.51
Target(s): 12.00, 10.50
Current Gain/Loss: unopened
Time Frame: 4 to 8 weeks
New Positions: Yes, see below

Comments:
07/03/12 update: FSLR is not cooperating with us. Shares just broke out past resistance at their simple 50-dma. If the stock doesn't show some weakness soon we'll probably drop it as a bearish trade (or switch directions).

Currently we are suggesting a trigger to launch bearish positions at $14.40. We'll set two targets. Our first target is $12.00. Our longer-term, more aggressive target is $10.50.

Trigger @ 14.40

Suggested Position: short FSLR stock @ (trigger)

- or -

buy the Aug $14 PUT (FSLR1218T14)

Entry on June xx at $ xx.xx
Earnings Date 08/02/12 (unconfirmed)
Average Daily Volume = 7.3 million
Listed on June 30, 2011


7 Days Group Holdings Ltd. - SVN - close: 10.48 change: +0.16

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

Comments:
07/03/12 update: SVN continues to churn under resistance at the 50-dma and support near $10.00. I don't see any changes from my prior comments.

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 BEARISH PLAYS

Eaton Corp. - ETN - close: 40.49 change: +1.28

Stop Loss: 40.35
Target(s): 35.25
Current Gain/Loss: -2.0%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
07/03/12 update: The oversold bounce in ETN continues. Shares outperformed the markets today with a strong +3.2% gain and a bullish breakout above the $40.00 mark.

closed Position: short ETN stock @ $39.54 exit $40.35 (-2.0%)

- or -

Jul $40 PUT (ETN1221S40) Entry $1.45 exit $0.65 (-55.1%)

07/03/12 stopped out at $40.35

chart:

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