Editor's Note:
Shares of Calumet have continued to rally and hit our exit target today.

Elsewhere BRLI and SNHY hit our entry triggers.

Current Portfolio:


BULLISH Play Updates

AGCO Corp. - AGCO - close: 46.92 change: -0.60

Stop Loss: 45.95
Target(s): 52.50
Current Gain/Loss: unopened

Entry on September xx at $ xx.xx
Listed on September 29, 2012
Time Frame: exit prior to the late October earnings
Average Daily Volume = 1.1 million
New Positions: Yes, see below

Comments:
10/03/12: There was no follow through on yesterday's bounce in AGCO. The stock remains under resistance at $48.00.

I am suggesting a trigger to open bullish positions at $48.15. We'll start with a stop loss at $45.95. Our target is $52.50.

Trigger @ 48.15

Suggested Position: buy AGCO stock @ (trigger)

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

buy NOV $50 call (AGCO1211k50)



Bio-Reference Labs - BRLI - close: 31.17 change: +1.38

Stop Loss: 29.28
Target(s): 34.75
Current Gain/Loss: + 3.0%

Entry on October 03 at $30.25
Listed on October 2, 2012
Time Frame: 4 to 6 weeks
Average Daily Volume = 232 thousand
New Positions: see below

Comments:
10/03/12: Our new trade on BRLI is off to a strong start. Shares opened near resistance at $30.00 and quickly hit our trigger to launch positions at $30.25. BRLI continued to climb and outperformed the market with a +4.6% gain. I am raising our stop loss up to $29.25.

FYI: The Point & Figure chart for BRLI is bullish with a $49.50 target.

current Position: Long BRLI stock @ $30.25

10/03/12 new stop loss @ 29.25
10/03/12 triggered @ 30.25



Colfax Corp. - CFX - close: 36.57 change: +0.45

Stop Loss: 34.95
Target(s): 39.90
Current Gain/Loss: - 1.2%

Entry on October 01 at $37.00
Listed on September 29, 2012
Time Frame: 4 to 8 weeks
Average Daily Volume = 753 thousand
New Positions: see below

Comments:
10/03/12: The bounce in CFX continues and the stock outperformed the market with a +1.2% gain today. More conservative traders may want to raise their stops.

The plan was to keep our position size small to limit our risk. FYI: The Point & Figure chart for CFX is bullish with a long-term $59 target.

*Small Positions*

Suggested Position: Long CFX stock @ $37.00

10/01/12 triggered @ 37.00



Homeowners Choice, Inc. - HCII - close: 24.51 change: +0.17

Stop Loss: 22.90
Target(s): 27.75
Current Gain/Loss: + 1.7%

Entry on October 01 at $24.10
Listed on September 24, 2012
Time Frame: 6 to 8 weeks
Average Daily Volume = 208 thousand
New Positions: see below

Comments:
10/03/12: HCII gapped open higher this morning and closed with a +0.69% gain. Previous resistance near $24.00 could offer some short-term support.

Earlier Comments:
HCII could see a short squeeze if it can breakout again. The most recent data listed short interest at 22% of the very small 8.0 million share float.

current Position: Long HCII stock @ $24.10

10/01/12 triggered @ 24.10



Medidata Solutions - MDSO - close: 39.67 change: -1.05

Stop Loss: 38.95
Target(s): 44.75
Current Gain/Loss: - 2.7%

Entry on September 28 at $40.75
Listed on September 27, 2012
Time Frame: 6 to 8 weeks
Average Daily Volume = 147 thousand
New Positions: see below

Comments:
10/03/12: MDSO is now down two days in a row. The close under $40.00 and its 10-dma is short-term bearish. Although if you look at today MDSO spent most of its session churning inside the $39.50-40.00 region.

I would wait for a new rise past $40.25 before initiating new positions.

current Position: Long MDSO stock @ $40.75

09/28/12 triggered @ 40.75



Sun Hydraulics Corp. - SNHY - close: 27.26 change: -0.14

Stop Loss: 25.95
Target(s): 31.00
Current Gain/Loss: - 1.4%

Entry on October 03 at $27.65
Listed on October 1, 2012
Time Frame: exit prior to earnings in November
Average Daily Volume = 54 thousand
New Positions: see below

Comments:
10/03/12: SNHY saw a brief spike higher this morning and the rise was just enough to tag our entry point at $27.65 before fading. Our trade was opened today but I am cautious with shares under $27.50. Wait for a new relative high (above $27.70) before initiating new positions.

Don't forget that we want to limit our position size to reduce our risk. SNHY could be volatile thanks to its lack of volume.

FYI: The Point & Figure chart for SNHY is bullish with a $38 target.

*Small Positions*

current Position: Long SNHY stock @ $27.65

10/03/12 triggered @ 27.65



BEARISH Play Updates

Centene Corp. - CNC - close: 36.86 change: +0.46

Stop Loss: 38.05
Target(s): 31.50
Current Gain/Loss: - 0.3%

Entry on September 20 at $36.75
Listed on September 19, 2012
Time Frame: exit prior to earnings on Oct. 23rd.
Average Daily Volume = 693 thousand
New Positions: see below

Comments:
10/03/12: It might be time to cut CNC loose. The stock is not cooperating as it churns sideways in the $36-38 zone. I am not suggesting new positions. Readers may want to hit the eject button.

current Position: short CNC stock @ $36.75

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

Long Oct $35 PUT (CNC1220v35) Entry $1.20

10/02/12 new stop loss @ 38.05



Con-way Inc. - CNW - close: 27.62 change: +0.22

Stop Loss: 29.05
Target(s): 25.05
Current Gain/Loss: + 3.7%

Entry on September 20 at $28.44
Listed on September 19, 2012
Time Frame: 6 to 8 weeks
Average Daily Volume = 787 thousand
New Positions: see below

Comments:
10/03/12: The transportation sector was bouncing today but CNW didn't quite keep pace with a +0.8% gain. More conservative traders may want to lower their stop loss so it's closer to the $28.00 level.

I am not suggesting new positions at this time.

Our target is $25.05. More aggressive traders could aim lower. The Point & Figure chart for CNW is bearish with a $20 target.

current Position: short CNW stock @ $28.44 (gap down)

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

Long Oct $27.50 put (CNW1220v27.5) Entry $1.00*

09/25/12 new stop loss @ 29.05
09/20/12 new stop loss @ 29.55
09/20/12 entry on gap open lower at $28.44
*option entry price is an estimate since the option did not trade at the time our play was opened.



J.C.Penney Co. - JCP - close: 23.89 change: +0.33

Stop Loss: 25.05
Target(s): 20.25
Current Gain/Loss: - 1.4%

Entry on October 3 at $23.57
Listed on October 2, 2012
Time Frame: 3 to 6 weeks
Average Daily Volume = 8.9 million
New Positions: see below

Comments:
10/03/12: JCP did not see any follow through on yesterday's decline. Although it's worth noting that the early morning bounce today failed near its 100-dma and 50-dma. Readers may want to wait for a new drop under $23.50 before initiating positions.

Keep in mind that retail stocks could see volatility tomorrow as several retailers report their September same-store sales numbers.

Earlier Comments:
I consider this a somewhat aggressive, higher-risk trade. We want to limit our risk by keeping our position size small.

*Small Positions*

current Position: short JCP stock @ $23.57

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

Long Oct $23 PUT (JCP1220v23) entry $0.65



Matson, Inc. - MATX - close: 20.56 change: +0.06

Stop Loss: 21.05
Target(s): 16.50
Current Gain/Loss: unopened

Entry on October xx at $ xx.xx
Listed on October 1, 2012
Time Frame: 3 to 6 weeks
Average Daily Volume = 263 thousand
New Positions: Yes, see below

Comments:
10/03/12: MATX delivered a quiet session on Wednesday. Shares remain inside the $20-21 zone. We are waiting for a breakdown.

The Sept. 24th low was $19.96. I am suggesting a trigger to open bearish positions at $19.85. If triggered we will aim for $16.50.

Trigger @ 19.85

Suggested Position: short MATX stock @ (trigger)



Synaptics Inc. - SYNA - close: 23.41 change: -0.52

Stop Loss: 24.70
Target(s): 22.15
Current Gain/Loss: + 5.6%

Entry on September 26 at $24.79
Listed on September 25, 2012
Time Frame: 3 to 6 weeks
Average Daily Volume = 439 thousand
New Positions: see below

Comments:
10/03/12: Thankfully there was no follow through on yesterday's bounce. SYNA reversed at short-term resistance near $24.00.

Earlier Comments:
I do consider this a higher-risk, more aggressive trade because SYNA has already seen a big move down but today's break under support could signal another big leg down. We want to limit our risk and keep our position size small.

*Small Positions*

current Position: short SYNA stock @ $24.79

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

(exit on Oct 2nd, at the open)
Oct $25 PUT (SYNA1220v25) Entry $1.15 exit $1.65 (+43.4%)

10/02/12 planned exit to close our put option at the open
10/01/12 new stop loss @ 24.70, plan on exiting our October puts at the opening bell tomorrow
09/29/12 new stop loss @ 26.05, adjust exit target to $22.15



Vistaprint N.V. - VPRT - close: 34.72 change: +0.18

Stop Loss: 36.15
Target(s): 30.25
Current Gain/Loss: - 0.3%

Entry on September 27 at $34.60
Listed on September 26, 2012
Time Frame: 3 to 5 weeks
Average Daily Volume = 572 thousand
New Positions: see below

Comments:
10/03/12: VPRT is still trying to bounce and added +0.5%. Shares are trading under resistance near $35.00 and its 100-dma. I am not suggesting new positions at this time.

Earlier Comments:
Readers may want to consider using put options to limit their risk. I do consider a higher-risk trade because the most recent data listed short interest at 28.4% of the small 21.9 million share float. There is a risk of a short squeeze.

*Small Positions*

current Position: short VPRT stock @ $34.60

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

Long Oct $35 PUT (VPRT1220v35) Entry $2.00



CLOSED BULLISH PLAYS

Calumet Specialty Products - CLMT - close: 33.46 change: +0.16

Stop Loss: 31.45
Target(s): 33.75
Current Gain/Loss: +11.4%

Entry on September 21 at $30.30
Listed on September 20, 2012
Time Frame: 6 to 8 weeks
Average Daily Volume = 409 thousand
New Positions: see below

Comments:
10/03/12: Target achieved.

CLMT is still outperforming the market. Shares hit an intraday high of $33.87. Our exit target was hit at $33.75.

closed Position: Long CLMT stock @ $30.30 exit $33.75 (+11.4%)

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

(option closed Oct. 2nd)
NOV $30 call (CLMT1217K30) Entry $1.40 exit $3.30 (+135.7%)

10/03/12 exit target hit at $33.75
10/02/12 closed Nov. $30 call at the open. exit $3.30 (+135.7%)
10/01/12 new stop loss @ 31.45, prepare to exit our Nov. $30 calls at the open tomorrow morning
09/29/12 new stop loss @ 29.85
Adjust exit target to $33.75
09/27/12 new stop loss @ 29.49
09/25/12 new stop loss @ 29.25
09/21/12 triggered @ 30.30

chart: