Editor's Note:
The market's midday bounce reversed and equities were slipping lower into the closing bell.

We closed both our RYL and CNS trades at the open this morning.

Current Portfolio:


BULLISH Play Updates

Ball Corp. - BLL - close: 43.70 change: -0.15

Stop Loss: 42.40
Target(s): 48.00
Current Gain/Loss: - 0.3%

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:
11/12/12: BLL is still consolidating sideways between new highs and short-term support at its 10-dma. 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



EXtra Space Storage - EXR - close: 35.24 change: -0.05

Stop Loss: 34.25
Target(s): 39.50
Current Gain/Loss: - 0.7%

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:
11/12/12: Traders bought the Monday morning dip in EXR at its rising 10-dma. Readers can use this intraday bounce as a new bullish entry point.

current Position: Long EXR stock @ $35.50



McMoRan Exploration - MMR - close: 12.59 change: -0.41

Stop Loss: 11.90
Target(s): 15.00-16.00 zone
Current Gain/Loss: -3.2%

Entry on November 12 at $13.01
Listed on November 10, 2012
Time Frame: 6 to 8 weeks
Average Daily Volume = 2.3 million
New Positions: see below

Comments:
11/12/12: After Friday's show of strength MMR ran into some profit taking today. Shares gave back -3.1% but held the $12.50 level. Readers can use this dip as an entry point or wait for a bounce.

current Position: Long MMR stock @ $13.01



Taiwan Semiconductor - TSM - close: 16.45 chagne: +0.09

Stop Loss: 15.25
Target(s): 18.50
Current Gain/Loss: unopened

Entry on November xx at $ xx.xx
Listed on November 10, 2012
Time Frame: 6 to 9 weeks
Average Daily Volume = 10.3 million
New Positions: see below

Comments:
11/12/12: Positive comments from Goldman Sachs this morning helped push TSM to a new high. We still don't want to chase it here. However, we will adjust our buy-the-dip trigger to $16.15.

We'll start with a stop loss at $15.25, just under the 50-dma. Our multi-week target is $18.50.

buy-a-dip trigger @ 16.15

Suggested Position: buy TSM stock @ (trigger)

11/12/12 adjust trigger to $16.15



BEARISH Play Updates

Check Point Software - CHKP - close: 44.59 change: +0.25

Stop Loss: 45.15
Target(s): 40.65
Current Gain/Loss: - 2.0%

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:
11/12/12: It was a relatively quiet day for shares of CHKP. The stock was drifting sideways albeit with a bullish bias. The stock outperformed the market with a +0.5% gain. Right now I am looking at the simple 30-dma as overhead resistance, which is currently at $45.00. We will tweak our stop loss just a tad and move it to $45.15 to give CHKP room to test this level and reverse. I am not suggesting new positions at this time.

current Position: short CHKP stock @ $43.72

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

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

11/12/12 adjust stop loss to $45.15
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.



Crocs, Inc. - CROX - close: 12.41 change: +0.27

Stop Loss: 13.05
Target(s): 10.25
Current Gain/Loss: - 0.1%

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:
11/12/12: CROX managed an oversold bounce on Monday. Shares gapped higher at $12.23 and rallied to a +2.2% gain. I am still expecting some resistance at $12.50 and the 10-dma. 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



Hewlett-Packard - HPQ - close: 13.41 change: -0.20

Stop Loss: 14.15
Target(s): 11.50
Current Gain/Loss: + 3.4%

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:
11/12/12: HPQ continues to underperform. Shares set another new multi-year low today. I am moving our stop loss down to $14.15. 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

11/12/12 new stop loss @ 14.15
11/07/12 HPQ has reversed lower with the market
11/06/12 HPQ is showing strength. Readers may want to exit early now!



Netgear Inc. - NTGR - close: 34.28 change: -0.16

Stop Loss: 36.05
Target(s): 30.25
Current Gain/Loss: + 0.6%

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:
11/12/12: NTGR spent the session churning sideways. I don't see any changes from my prior comments.

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



CLOSED BULLISH PLAYS

Ryland Group - RYL - close: 32.75 change: -1.19

Stop Loss: 32.90
Target(s): 39.50
Current Gain/Loss: - 1.3%

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:
11/12/12: Over the weekend we decided it would be best to abandon ship and close our RYL positions at the open on Monday morning. The stock opened at $34.06 and the early morning bounce quickly reversed into a 3.5% plunge.

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

closed Position: Long RYL stock @ 34.50 exit $34.06 (-1.3%)

11/12/12 closed on Monday morning
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:



CLOSED BEARISH PLAYS

Cohen & Steers Inc. - CNS - close: 28.25 change: +0.35

Stop Loss: 28.55
Target(s): 25.15
Current Gain/Loss: - 0.9%

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:
11/12/12: CNS was not cooperating so over the weekend we decided to exit positions on Monday morning and cut our losses.

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*

closed Position: short CNS stock @ $27.78 exit $28.03 (-0.9%)

11/12/12 closed on Monday morning
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: