Editor's Note:
The stock market just produced its sixth decline in a row. Yet the intraday bounce might suggest a rebound tomorrow.

Our THLD trade was stopped out but our HMIN trade hit our first target.

We have updated several stop losses tonight.

Current Portfolio:


BULLISH Play Updates

ACI Worldwide, Inc. - ACIW - close: 45.00 change: +0.18

Stop Loss: 43.75
Target(s): 49.00
Current Gain/Loss: + 2.2%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
07/12/12 update: ACIW almost hit our stop loss but managed to bounce at $43.87. This rebound looks like a potential entry point but readers may want to wait for ACIW to rally past $45.50 before initiating positions.

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


Extra Space Storage - EXR - close: 31.17 change: +0.47

Stop Loss: 29.99
Target(s): 33.50
Current Gain/Loss: + 0.1%
Time Frame: exit prior to the late July earnings report
New Positions: see below

Comments:
07/12/12 update: EXR showed some relative strength today with a +1.5% gain. The stock tagged new highs before paring its gains this afternoon.

Our target is $33.50 but we'll plan to exit prior to the late July earnings report.

Suggested Position: Long EXR stock @ $31.15

07/09/12 triggered @ 31.15

Entry on July 09 at $31.15
Earnings Date 07/26/12 (unconfirmed)
Average Daily Volume = 1.5 million
Listed on July 07, 2011


IdaCorp. - IDA - close: 42.93 change: -0.02

Stop Loss: 41.90
Target(s): 45.00
Current Gain/Loss: unopened
Time Frame: exit prior to the early August earnings report
New Positions: Yes, see below

Comments:
07/12/12 update: Our new trade on IDA is not open yet. The stock only made it to $43.06 before retreating. Overall nothing has changed from my Wednesday comments.

I am suggesting a trigger to launch positions at $43.15. We'll use a stop loss at $41.90. Our multi-week target is $45.00.

Trigger @ 43.15

Suggested Position: buy IDA stock @ (trigger)

Entry on July xx at $ xx.xx
Earnings Date 08/02/12 (unconfirmed)
Average Daily Volume = 217 thousand
Listed on July 11, 2011


BEARISH Play Updates

Aetna Inc. - AET - close: 37.55 change: -0.21

Stop Loss: 38.55
Target(s): 35.10
Current Gain/Loss: + 2.3%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
07/12/12 update: AET continues to churn sideways. The 10-dma (currently 38.19) should be resistance. We are lowering our stop loss down to $38.55. I am not suggesting new positions at this time.

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

07/12/12 new stop loss @ 38.55
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


First Solar Inc. - FSLR - close: 14.01 change: -0.64

Stop Loss: 15.51
Target(s): 12.00, 10.50
Current Gain/Loss: +2.7%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
07/12/12 update: FSLR is definitely seeing a lot of volatility. Yesterday's big bounce failed and the stock gave up -4.3% today. Readers may want to start adjusting their stop loss lower.

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 $1.45

07/10/12 triggered @ 14.40

Entry on July 10 at $14.40
Earnings Date 08/02/12 (unconfirmed)
Average Daily Volume = 7.3 million
Listed on June 30, 2011


Groupon, Inc. - GRPN - close: 7.98 change: +0.21

Stop Loss: 9.05
Target(s): 6.25
Current Gain/Loss: + 5.3%
Time Frame: exit prior to the early August earnings report
New Positions: see below

Comments:
07/12/12 update: Hmm... what do we do with GRPN here? The stock produced a +10% bounce off its intraday low of $7.25 today. There were analysts suggesting that investors should buy GRPN at these lows because it's cheap. Our readers might want to consider taking some money off the table. I'm not suggesting new positions. We are going to try and reduce our risk by adjusting the stop loss down to $9.05.

*Small Positions*

current Position: short GRPN stock @ $8.40

- or -

Long Aug $8.00 PUT (GRPN1218T8) Entry $0.80

07/12/12 new stop loss @ 9.05

Entry on July 09 at $8.40
Earnings Date 08/08/12 (unconfirmed)
Average Daily Volume = 8.1 million
Listed on July 07, 2011


Home Inns & Hotels Management - HMIN - close: 18.57 change: +0.20

Stop Loss: 20.25
Target(s): 18.00 & 15.50
Current Gain/Loss: + 5.3%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
07/12/12 update: Target achieved. HMIN dipped to $17.76 before bouncing back and actually closing up on the day. We had two target for this trade. Our first target was $18.00. HMIN is still short-term oversold and we suspect it could bounce back toward resistance near $20.00. Please note our new stop loss at $20.25.

Our second target is $15.50.

Earlier Comments:
Readers may want to keep their position size small or use the options to limit their risk. The most recent data listed short interest at 17% of the 24.2 million share float.

Suggested Position: short HMIN stock @ $19.60

- or -

Long Aug $20 PUT (HMIN1218T20) Entry $1.70

07/12/12 new stop loss @ 20.25
07/12/12 1st target hit @ 18.00 (+8.2%)
1st target hit @ 18.00, option bid @ $2.50 (+47.0%)*
(option exit price is an estimate since the option did not trade at the time our first target was hit)
07/10/12 triggered @ 19.60

Entry on July 10 at $19.60
Earnings Date 08/09/12 (unconfirmed)
Average Daily Volume = 284 thousand
Listed on July 09, 2011


Riverbed Tech. - RVBD - close: 13.86 change: +0.18

Stop Loss: 15.10
Target(s): 12.50
Current Gain/Loss: + 4.4%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
07/12/12 update: I need to warn you that today's move in RVBD looks like a one-day bullish reversal pattern. I would not be surprised to see RVBD bounce back toward resistance near $15.00. We will adjust our stop loss lower to $15.10. Wait for this bounce to fail before considering new positions. Our target is $12.50 but more aggressive traders may want to aim lower.

current Position: short RVBD stock @ $14.50

- or -

Long Aug $14 PUT (RVBD1218T14) Entry $1.16

07/12/12 new stop loss @ 15.10

Entry on July xx at $ xx.xx
Earnings Date 07/24/12 (confirmed)
Average Daily Volume = 3.4 million
Listed on July 09, 2011


TRW Automotive - TRW - close: 34.47 change: -0.87

Stop Loss: 36.35
Target(s): 30.50
Current Gain/Loss: + 2.6%
Time Frame: exit prior to the July 31st earnings report
New Positions: see below

Comments:
07/12/12 update: TRW continues to underperform the market. The stock dipped to $33.74 this morning. Shares eventually pared its losses and TRW settled with a -2.4% decline. I am adjusting our stop loss down to $36.35.

current Position: short TRW stock @ $35.38

- or -

Long Aug $35 PUT (TRW1218T35) Entry $1.90

07/12/12 new stop loss @ 36.35

Entry on July 11 at $35.38
Earnings Date 07/31/12 (confirmed)
Average Daily Volume = 949 thousand
Listed on July 10, 2011


CLOSED BULLISH PLAYS

Threshold Pharmaceuticals - THLD - close: 7.74 change: -0.16

Stop Loss: 7.49
Target(s): 9.75
Current Gain/Loss: - 9.2%
Time Frame: exit prior to the very late July /early August earnings
New Positions: see below

Comments:
07/12/12 update: It was not a good day for THLD. Shares broke down under its 10-dma and fell to $7.35 before bouncing. Our stop loss was hit at $7.49. I would be tempted to keep THLD on your watch list and wait for a new close over $8.05 or $8.20 as a potential entry point for bullish positions again.

Earlier Comments:
There is a good chance THLD might see a short squeeze. The most recent data listed short interest at 18% of the 40.7 million-share float. Biotechs can be volatile stocks so readers may want to limit their position size to reduce risk.

closed Position: Long THLD stock @ $8.25 exit $7.49 (-9.2%)

- or -

Aug $7.50 call (THLD1218H7.5) Entry $1.20 exit $0.65 (-45.8%)

07/12/12 stopped out at $7.49
07/10/12 produced a bearish reversal candlestick. readers may want to raise their stop loss.
07/09/12 triggered @ 8.25

chart:

Entry on July 09 at $ 8.25
Earnings Date 07/30/12 (unconfirmed)
Average Daily Volume = 1.6 million
Listed on July 07, 2011