Editor's Note:
Shares of Green Mountain Coffee Roasters continue to rally. Our GMCR trade was stopped out. We also closed our SNDK trade as planned. Both INCY and SPH have been triggered.

Current Portfolio:


BULLISH Play Updates

Tempur Pedic Intl. - TPX - close: 31.81 change: +1.70

Stop Loss: 29.75
Target(s): 39.00
Current Gain/Loss: unopened
Time Frame: 6 to 8 weeks

Entry on August xx at $ xx.xx
Listed on August 7, 2011
Average Daily Volume = 2.5 million New Positions: Yes, see below

Comments:
08/08/12 update: TPX is still hovering under the $32.50 level after the rally attempt this morning stalled near yesterday's high. We are waiting on a breakout to a new relative high.

I do consider this somewhat of an aggressive trade so we will want to limit the size of our position. I am suggesting a trigger to open small bullish positions at $32.50. We'll start with a stop loss at $29.75. Our multi-week target is $39.00 since the $40.00 level is probably round-number resistance.

Trigger @ $32.50 (small positions)

Suggested Position: buy TPX stock @ (trigger)

- or -

buy the Sep $33 call (TPX1222I33)


BEARISH Play Updates

Incyte Corp - INCY - close: 17.60 change: -0.55

Stop Loss: 18.65
Target(s): 14.00
Current Gain/Loss: - 0.6%
Time Frame: 6 to 8 weeks

Entry on August 08 at $17.50
Listed on August 7, 2011
Average Daily Volume = 2.0 million New Positions: see below

Comments:
08/08/12 update: Our INCY trade is off to a decent start. Shares did breakdown under support near $18.00 and its 300-dma. Our trigger to open small bearish positions was hit at $17.50. I would still consider new positions here at current levels.

Earlier Comments:
I do consider this an aggressive trade since INCY is already considered oversold at this point. Our target is $14.00.

0 (small positions)

current Position: short INCY stock @ $17.50

- or -

Long Sep $17.50 PUT (INCY1222I17.5) Entry $1.30

08/08/12 triggered @ 17.50
*remember, small positions to limit risk!


Suburban Propane Partners - SPH - close: 37.61 change: -2.58

Stop Loss: 41.51
Target(s): 35.50
Current Gain/Loss: + 3.0%
Time Frame: 6 to 8 weeks

Entry on August 08 at $38.76
Listed on August 6, 2011
Average Daily Volume = 144 thousand New Positions: see below

Comments:
08/08/12 update: After the closing bell last night SPH announced plans to offer 6.3 million "common units". The market didn't like this news and the stock gapped open lower at $38.76 before falling to a 6.4% decline. SPH announced today that this public offering was priced at $37.61, which is where shares closed today.

We had a trigger at $39.75 so the gap down today triggered our play. I am not suggesting new positions at this time.

current Position: short SPH @ $38.76

- or -

Long Sep $40 PUT entry @ $2.20

08/08/12 triggered on gap down at $38.76 (trigger was 39.75)


CLOSED BULLISH PLAYS

Sandisk Corp. - SNDK - close: 41.70 change: -0.38

Stop Loss: 40.35
Target(s): 49.75
Time Frame: 4 to 6 weeks
Entry on July 30 at $ 42.75
Earnings Date 07/20/12 (past)
Average Daily Volume = 4.5 Million
Listed on July 28, 2012
New Positions: Yes, see below

Comments:
08/08/12 update: SNDK continues to underperform and gave up -0.9% today. Our plan was to exit at the open this morning.

Suggested Positions:

SNDK stock @ $42.75 exit $41.81 (-2.2%)

OR

SNDK Sept $44 Call, @ $2.28 exit $0.98 (-57.0%)

08/08/12 exit at the open today
08/07/12 prepare to exit at the open tomorrow
08/06/12 adjust the exit target to $49.75
07/30/12 triggered at $42.75

chart:


CLOSED BEARISH PLAYS

GMCR - Green Mountain Coffee - close: 24.62 change: +1.32

Stop Loss: 24.35
Target(s): 18.00
Current Gain/Loss: -12.6%
Time Frame: 4 to 6 weeks
Entry on August 6 at $21.62
Earnings Date 08/2/12
Average Daily Volume = 9.7 Million
Listed on August 4, 2012
New Positions: see below

Comments:
08/08/12 update: Our aggressive trade on GMCR did not work. In spite of all the bad news shares continue to see more short covering. The stock rallied to $25.37 intraday. Our stop loss was hit at $24.35.

closed Position: Short GMCR stock @ $21.60 exit $24.35 (-12.6%)

- or -

GMCR Sept $20 Put entry @ $1.40 exit $0.70 (-50%)

08/08/12 stopped out
08/06/12 trade opened.

chart: