Editor's Note:
Stocks have spent this week churning sideways as investors wait for the German court vote, which came out today, and the FOMC decision, which comes out tomorrow.

If Fed Chairman Ben Bernanke disappoints the market tomorrow then stocks could see a sharp spike lower.

Today our EXXI trade has been triggered. I am suggesting an early exit for our CTCT trade.

Current Portfolio:


BULLISH Play Updates

Constant Contact, Inc. - CTCT - close: 19.82 change: -0.53

Stop Loss: 18.99
Target(s): 24.50
Current Gain/Loss: - 4.3%

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:
09/12/12: CTCT is not performing for us. Shares have closed under what should have been support at $20.00. There is a chance CTCT will bounce off its 10 and 100-dma near $19.75 but we don't want to bet on it. I am suggesting an early exit at the open tomorrow.

current Position: Long CTCT stock @ $20.70

09/12/12 prepare to exit at the open tomorrow



eBay Inc. - EBAY - close: 47.99 change: -0.34

Stop Loss: 46.75
Target(s): 49.75
Current Gain/Loss: + 3.8%

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:
09/12/12: EBAY is trying to hold support near the $48 level and its 10-dma. After a three-day pullback I would expect a bounce but that will depend on how the market interprets the Federal Reserve's decision tomorrow. I am raising our stop loss to $46.75.

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%)

09/12/12 new stop loss @ 46.75
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



Energy XXI Ltd. - EXXI - close: 35.85 change: +0.80

Stop Loss: 33.95
Target(s): 39.75
Current Gain/Loss: + 0.8%

Entry on September 12 at $35.55
Listed on September 11, 2011
Time Frame: 4 to 6 weeks
Average Daily Volume = 790 thousand
New Positions: see below

Comments:
09/12/12: EXXI continued to rally and broke out to new three-month highs. Shares hit our trigger to launch positions at $35.55. Do not be surprised to see any volatility tomorrow if Bernanke disappoints the market.

current Position: Long EXXI stock @ $35.55

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

Long Oct $35 CALL (EXXI1220j35) Entry $2.25



Netgear Inc. - NTGR - close: 39.32 change: +0.68

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:
09/12/12: NTGR outperformed the market today with a +1.7% gain. Yet shares remain under resistance at the $40.00 level.

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: 43.45 change: +0.45

Stop Loss: 41.30
Target(s): 44.85
Current Gain/Loss: + 3.8%

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:
09/12/12: SMG also outperformed the market today. The stock added +1.0% but remains under resistance near $44.00. 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: 36.03 change: +0.22

Stop Loss: 33.90
Target(s): 39.75
Current Gain/Loss: + 0.4%

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:
09/12/12: Traders bought the dip this morning but VECO spent the rest of the day churning sideways.

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: 29.66 change: +0.22

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:
09/12/12: There is no change from my prior comments. VMED remains short-term overbought and we do not 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: 14.06 change: -0.21

Stop Loss: 15.05
Target(s): 10.25
Current Gain/Loss: - 1.2%

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:
09/12/12: There was no follow through on yesterday's bounce in JIVE. Readers could use today's move as a new entry point but more conservative traders may want to wait for a new drop under $13.85 as their entry point instead.

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: 32.18 change: -0.37

Stop Loss: 34.05
Target(s): 30.10
Current Gain/Loss: + 3.8%

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:
09/12/12: WPRT tried to bounce but the rebound failed near technical resistance at its exponential 200-dma. 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