Editor's Note:
The market gave back some of its gains this afternoon as investors turn cautious ahead of the German court vote on the ESM and the FOMC announcement tomorrow.

Current Portfolio:


BULLISH Play Updates

Constant Contact, Inc. - CTCT - close: 20.35 change: -0.36

Stop Loss: 18.99
Target(s): 24.50
Current Gain/Loss: - 1.7%

Entry on September 10 at $20.70
Listed on September 08, 2011
Time Frame: 4 to 6 weeks
Average Daily Volume = 436 thousand
New Positions: see below

Comments:
09/11/12: CTCT is not seeing much follow through on Friday's bullish breakout past $20.00. Shares spiked higher yesterday and now the stock is retracing those gains. Look for support near $20.00. I would use a dip or a bounce near $20 as a new bullish entry point.

Earlier Comments:
CTCT could see more short covering. The most recent data listed short interest at 28% of the relatively small 29.8 million-share float. Our target is $24.50 but we may adjust that lower. Keep an eye on potential resistance at the simple 200-dma.

current Position: Long CTCT stock @ $20.70



eBay Inc. - EBAY - close: 48.33 change: -0.20

Stop Loss: 46.25
Target(s): 49.75
Current Gain/Loss: + 4.5%

Entry on August 17 at $46.25
Listed on August 16, 2011
Time Frame: 4 to 6 weeks
Average Daily Volume = 12.3 million
New Positions: see below

Comments:
09/11/12: EBAY is testing broken resistance at $48.00 as new support. The stock "should" bounce here but that will depend on how the market reacts to headlines out of Europe and the FOMC tomorrow. More conservative traders may want to tighten their stops.

I am not suggesting new positions at this time.

current Position: Long EBAY stock @ $46.25

- or -

(exited options on 09-10-2012 at the open)
Oct $47 call (EBAY1220J47) Entry $1.89 exit $3.05 (+61.3%)

09/10/12 closed option position this morning (+61.3%)
09/08/12 prepare to exit our call option on Monday morning
09/06/12 new stop loss @ 46.25
09/01/12 new stop loss @ 45.75
08/17/12 triggered at $46.25



Netgear Inc. - NTGR - close: 38.64 change: -0.65

Stop Loss: 38.80
Target(s): 44.75
Current Gain/Loss: unopened

Entry on September xx at $ xx.xx
Listed on September 10, 2011
Time Frame: 6 to 8 weeks
Average Daily Volume = 562 thousand
New Positions: Yes, see below

Comments:
09/11/12: Hmm... shares of NTGR reversed. Technically today's move has actually created a bearish engulfing candlestick reversal pattern. At the moment we are on the sidelines waiting for a breakout.

I am suggesting a trigger to open bullish positions at $40.25. Our target is $44.75. FYI: The Point & Figure chart for NTGR is bullish with a long-term $60 target.

Trigger @ 40.25

Suggested Position: buy NTGR stock @ (trigger)



Scotts Miracle-Gro Company - SMG - close: 43.00 change: +0.02

Stop Loss: 41.30
Target(s): 44.85
Current Gain/Loss: + 2.7%

Entry on September 04 at $41.85
Listed on September 01, 2011
Time Frame: 4 to 6 weeks
Average Daily Volume = 500 thousand
New Positions: see below

Comments:
09/11/12: SMG experienced a little volatility this morning and then closed almost unchanged on the session. Essentially SMG is trying to get through resistance in the $43.50-44.00 area but it may have to dip back toward $42 and its 30-dma before making any progress higher. I am not suggesting new positions at this time.

FYI: The Point & Figure chart for SMG is bullish with a long-term $54 target.

current Position: Long SMG stock @ $41.85

09/06/12 new stop loss @ 41.30
09/04/12 triggered @ 41.85



Veeco Instruments - VECO - close: 35.81 change: +0.27

Stop Loss: 33.90
Target(s): 39.75
Current Gain/Loss: - 0.2%

Entry on September 10 at $35.88
Listed on September 08, 2011
Time Frame: 6 to 8 weeks
Average Daily Volume = 723 thousand
New Positions: see below

Comments:
09/11/12: VECO rallied to a new two-week high intraday before paring its gains. I would still look for a dip near $35.00 as our next entry point.

Our plan was to limit our risk by keeping our position size small.

*Small Positions to Limit Risk*

current Position: Long VECO stock @ $35.88

- (or for more adventurous traders, try this option) -

Long Oct $37.00 call (VECO1220j37) Entry $1.60



Virgin Media, Inc. - VMED - close: 29.44 change: +0.07

Stop Loss: 27.45
Target(s): 31.50
Current Gain/Loss: unopened

Entry on September xx at $ xx.xx
Listed on September 06, 2011
Time Frame: 6 to 8 weeks
Average Daily Volume = 2.5 million
New Positions: Yes, see below

Comments:
09/11/12: VMED has been relatively resistant to any profit taking. Shares remain short-term overbought so we don't want to chase it.

I am suggesting a buy-the-dip trigger at $28.55.

Earlier Comments:
I suspect VMED could see more short covering since the most recent data listed short interest at 20% of the 256 million-share float. FYI: The Point & Figure chart for VMED is bullish with a $41 target.

Buy-the-Dip Trigger @ $28.55

Suggested Position: buy VMED stock @ (trigger)

- (or for more adventurous traders, try this option) -

buy the Oct $28 call (VMED1220j28)

09/08/12 adjust the buy-the-dip trigger higher from $28.25 to $28.55 and adjust the stop loss to $27.45



BEARISH Play Updates

Jive Software, Inc. - JIVE - close: 14.27 change: +0.45

Stop Loss: 15.05
Target(s): 10.25
Current Gain/Loss: - 2.7%

Entry on September 11 at $13.90
Listed on September 10, 2011
Time Frame: 4 to 6 weeks
Average Daily Volume = 1.0 million
New Positions: see below

Comments:
09/11/12: After breaking down through major support near $14.00 yesterday we decided to open bearish positions this morning. Naturally Murphy's Law states that JIVE has to move the opposite direction for us.

Shares opened at $13.90, dipped to $13.50 and bounced. Nimble traders could look for a failed rally in the $14.50-15.00 zone as a new bearish entry point since the $15.00 level should be the next area of overhead resistance.

Earlier Comments:
It looks like lots of investors are already bearish with short interest at 28% of the small 24.8 million-share float. That does raise the risk of a short squeeze so I would limit our position size to reduce our risk. You can also limit your risk by using the put options.

*Small Positions*

current Position: short JIVE stock @ $13.90

- (or for more adventurous traders, try this option) -

Long Oct $15 PUT (JIVE1220v15) Entry $1.90



Westport Innovations - WPRT - close: 32.55 change: +1.03

Stop Loss: 34.05
Target(s): 30.10
Current Gain/Loss: + 2.7%

Entry on September 07 at $33.45
Listed on September 05, 2011
Time Frame: 3 to 4 weeks
Average Daily Volume = 798 thousand
New Positions: see below

Comments:
09/11/12: WPRT also rebounded after yesterday's underperformance. We can look for new resistance at the exponential 200-dma near $33.40 and resistance near the $34.00 level. I am not suggesting new positions at this time.

Earlier Comments:
We do want to keep our position size small to limit our risk because WPRT does have a high amount of short interest. The most recent data listed short interest at 37% of the 40 million-share float. That does raise the risk of a short squeeze. Readers may want to consider limiting their risk by buying put options instead of shorting the stock. FYI: The Point & Figure chart for WPRT is bearish with a $28.00 target.

*Small Positions to Limit Risk*

current Position: short WPRT stock @ $33.45

- (or for more adventurous traders, try this option) -

Long Oct $30 PUT (WPRT1220v30) entry $1.05

09/10/12 new stop loss @ 34.05
09/07/12 triggered @ 33.45