Editor's Note:
Shares of Tronox Inc. (TROX) hit our bearish target on Friday. Our new CHKP trade is open. We want to exit both the RYL and CNS trades on Monday morning at the open.

Current Portfolio:


BULLISH Play Updates

Ball Corp. - BLL - close: 43.85 change: +0.32

Stop Loss: 42.40
Target(s): 48.00
Current Gain/Loss: + 0.0%

Entry on November 06 at $43.85
Listed on November 3, 2012
Time Frame: 6 to 8 weeks
Average Daily Volume = 687 thousand
New Positions: see below

Comments:
11/10/12: BLL is still trying to rally. Traders bought the dip at its rising 10-dma and BLL surged to a new high before paring its gains ahead of the closing bell. Readers might want to wait for a new rally past $44.25 before initiating positions.

current Position: Long BLL stock @ $43.85

11/06/12 triggered @ 43.85

chart:



EXtra Space Storage - EXR - close: 35.29 change: +0.08

Stop Loss: 34.25
Target(s): 39.50
Current Gain/Loss: - 0.6%

Entry on November 08 at $35.50
Listed on November 7, 2012
Time Frame: 6 to 8 weeks
Average Daily Volume = 700 thousand
New Positions: see below

Comments:
11/10/12: It was a relatively quiet day for EXR on Friday. Shares consolidated sideways in a relative narrow range most of the session. I suspect we'll see EXR test the $35.00 level again and possibly dip toward its 10-dma if the market continues to show weakness. Wait for the bounce.

current Position: Long EXR stock @ $35.50

chart:



Ryland Group - RYL - close: 33.94 change: -0.57

Stop Loss: 32.90
Target(s): 39.50
Current Gain/Loss: - 1.6%

Entry on October 31 at $34.50
Listed on October 27, 2012
Time Frame: 6 to 8 weeks
Average Daily Volume = 1.3 million
New Positions: see below

Comments:
11/10/12: I have been cautious on RYL the last few days. The long-term trend is up but short-term momentum has stalled and RYL looks to be in jeopardy of a correction lower.

I am suggesting an early exit on Monday morning. We can put RYL back on our watch list for a dip or a bounce near $30 or its 100-dma.

The plan was to keep our position size small to limit our risk.

current Position: Long RYL stock @ 34.50

11/10/12 prepare to exit on Monday morning.
11/02/12 RYL has produced a potential bearish reversal pattern
11/01/12 new stop loss @ 32.90
10/31/12 triggered @ 34.50

chart:



BEARISH Play Updates

Check Point Software - CHKP - close: 44.34 change: +0.23

Stop Loss: 45.01
Target(s): 40.65
Current Gain/Loss: - 1.4%

Entry on November 09 at $43.72
Listed on November 8, 2012
Time Frame: 3 to 6 weeks
Average Daily Volume = 4.0 million
New Positions: see below

Comments:
11/10/12: The plan was to open bearish positions at $43.80 but CHKP gapped open lower at $43.72 on Friday morning. Shares quickly bounced but like most of the market the intraday reversed midday. Unlike most of the market CHKP did not see a solid retreat on Friday afternoon. Thus our trade is open but I am not suggesting new positions at this time. Wait for a new drop under $43.85 or a new relative low under $43.50 before initiating new positions.

current Position: short CHKP stock @ $43.72

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

Long DEC $43 PUT (CHKP1222x43) entry $1.45*

11/09/12 play opened on gap down at $43.72, trigger was $43.80
*option entry price is an estimate since the option did not trade at the time our play was opened.

chart:



Cohen & Steers Inc. - CNS - close: 27.90 change: +0.44

Stop Loss: 28.55
Target(s): 25.15
Current Gain/Loss: - 0.4%

Entry on November 06 at $27.78
Listed on November 5, 2012
Time Frame: 3 to 6 weeks
Average Daily Volume = 182 thousand
New Positions: see below

Comments:
11/10/12: The big bounce in CNS on Friday worries me, especially since shares were rising on Friday afternoon when most of the market was retreating. CNS did pare its gains so more aggressive traders may want to let it ride. I am suggesting we exit positions immediately on Monday morning.

The larger trend for CNS is still bearish and we can keep this stock on our watch list for a better entry point down the road.

*Small Positions*

current Position: short CNS stock @ $27.78

11/10/12 prepare to exit on Monday morning
11/07/12 new stop loss @ 28.55
11/07/12 after the close, CNS announces a quarterly dividend of 18 cents and a special dividend of $1.50.

chart:



Crocs, Inc. - CROX - close: 12.14 change: +0.02

Stop Loss: 13.05
Target(s): 10.25
Current Gain/Loss: + 2.1%

Entry on November 07 at $12.40
Listed on November 6, 2012
Time Frame: 6 to 8 weeks
Average Daily Volume = 2.4 million
New Positions: see below

Comments:
11/10/12: CROX seemed to find support near $12.00 on Friday. I would not be surprised to see a bounce back toward $12.50, which should be new short-term resistance. I am not suggesting new positions at this time.

Remember that we want to keep our position size small to limit our risk.

*Small Positions*

Suggested Position: short CROX stock @ $12.40

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

Long Dec $12 PUT (CROX1222x12) Entry $0.55

11/07/12 triggered @ $12.40

chart:



Hewlett-Packard - HPQ - close: 13.61 change: -0.21

Stop Loss: 14.51
Target(s): 11.50
Current Gain/Loss: + 1.9%

Entry on November 01 at $13.88
Listed on October 31, 2012
Time Frame: exit prior to the Nov. 20th earnings report
Average Daily Volume = 35.7 million
New Positions: see below

Comments:
11/10/12: HPQ continues to sink and shares closed at new multi-year lows on Friday. More conservative traders might want to consider adjusting their stop loss lower. Friday's decline could be used as a new bearish entry point. However, keep in mind that we want to exit prior to the Nov. 20th earnings report.

current Position: Short HPQ stock @ $13.88

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

Long DEC $13 PUT (HPQ1222x13) Entry $0.47

11/07/12 HPQ has reversed lower with the market
11/06/12 HPQ is showing strength. Readers may want to exit early now!

chart:



Netgear Inc. - NTGR - close: 34.44 change: +0.64

Stop Loss: 36.05
Target(s): 30.25
Current Gain/Loss: + 0.2%

Entry on November 07 at $34.50
Listed on November 3, 2012
Time Frame: 6 to 8 weeks
Average Daily Volume = 381 thousand
New Positions: see below

Comments:
11/10/12: Hmm... I could not find any specific news to account for the relative strength in NTGR on Friday. The +1.8% bounce really took a chunk out of our unrealized gains. The move on Friday almost looks like a bullish engulfing candlestick reversal pattern. What does concern me is that NTGR was rising on Friday afternoon while most of the market was declining.

More conservative traders may want to consider lowering their stop loss. I am expecting broken support in the $35.00 area to act as new resistance. I am not suggesting new positions at this time.

current Position: short NTGR stock @ $34.50

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

Long DEC $33 PUT (NTGR1222x33) entry $1.00

11/07/12 triggered @ 34.50

chart:



CLOSED BEARISH PLAYS

Tronox Inc. - TROX - close: 17.53 change: -0.89

Stop Loss: 19.50
Target(s): 18.05
Current Gain/Loss: + 8.6%

Entry on November 06 at $19.75
Listed on November 3, 2012
Time Frame: exit on Nov. 9th to avoid the earnings report
Average Daily Volume = 838 thousand
New Positions: see below

Comments:
11/10/12: Target achieved.

We were planning to exit our TROX positions on Friday, November 9th at the closing bell to avoid holding over the earnings report on Monday. However, shares hit our exit target at $18.05 on Friday instead. The stock underperformed the market with a -4.8% decline and a new 2012 low.

*Small Positions*

closed Position: short TROX stock @ $19.75 exit $18.05 (+8.6%)

11/08/12 new stop loss @ 19.50, readers may want to exit now
Prepare to exit tomorrow at the closing bell
11/07/12 new stop loss @ 20.40

chart: