Editor's Note:
The stock market gave back its gains this afternoon but we did see a few trades hit our entry triggers today.

ALK, TSM and IMPV are all open.

Current Portfolio:


BULLISH Play Updates

Alaska Air Group - ALK - close: 41.32 change: -0.02

Stop Loss: 39.95
Target(s): 44.75
Current Gain/Loss: - 0.7%

Entry on November 13 at $41.60
Listed on November 12, 2012
Time Frame: 6 to 9 weeks
Average Daily Volume = 768 thousand
New Positions: see below

Comments:
11/13/12: We were expecting ALK to breakout higher but today was not exactly what we had in mind. Shares spiked higher at the open and hit $42.48 intraday. Then as the market rolled over shares of ALK followed it lower and gave back all of its gains. This now looks like a false breakout or bull trap pattern. I would wait for a new rally past $41.75 before considering new bullish positions.

Earlier Comments:
We do want to keep our position size small. ALK is definitely overbought with an eight-week rally. That doesn't mean it can't grow more overbought.

current Position: Long ALK stock @ $41.60



Ball Corp. - BLL - close: 43.37 change: -0.33

Stop Loss: 42.40
Target(s): 48.00
Current Gain/Loss: - 1.1%

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:
11/13/12: Today's close under the 10-dma in BLL is short-term bearish. I suspect we'll see this stock test its 50-dma near $42.75 soon. I am not suggesting new positions at this time.

current Position: Long BLL stock @ $43.85

11/06/12 triggered @ 43.85



EXtra Space Storage - EXR - close: 35.33 change: +0.09

Stop Loss: 34.25
Target(s): 39.50
Current Gain/Loss: - 0.5%

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:
11/13/12: Traders bought the dip in EXR this morning near its 10-dma. Shares spent the rest of the day consolidating sideways under the $35.50 level.

current Position: Long EXR stock @ $35.50



McMoRan Exploration - MMR - close: 12.70 change: +0.11

Stop Loss: 11.90
Target(s): 15.00-16.00 zone
Current Gain/Loss: -2.4%

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:
11/13/12: MMR rallied off the initial spike lower this morning. Yet the rally stalled at the $13.00 level midday. I am concerned about the wider market and how that might impact MMR. Readers may want to wait for a new rally past $13.05 before initiating new positions or we can wait for a bounce near $12.00.

current Position: Long MMR stock @ $13.01



Taiwan Semiconductor - TSM - close: 16.18 chagne: -0.27

Stop Loss: 15.25
Target(s): 18.50
Current Gain/Loss: + 0.2%

Entry on November 13 at $16.15
Listed on November 10, 2012
Time Frame: 6 to 9 weeks
Average Daily Volume = 10.3 million
New Positions: see below

Comments:
11/13/12: As we suspected TSM is starting to pullback from its new highs. The stock did hit our new buy-the-dip trigger at $16.15. Looking now at how TSM performed today odds are good we're going to see this stock test the $16.00 level. Readers could wait for a dip or a bounce near $16.00 before initiating new positions.

current Position: Long TSM stock @ $16.15

11/13/12 triggered @ 16.15
11/12/12 adjust trigger to $16.15



BEARISH Play Updates

Check Point Software - CHKP - close: 44.27 change: -0.32

Stop Loss: 45.15
Target(s): 40.65
Current Gain/Loss: - 1.3%

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:
11/13/12: It looks like the simple 30-dma continues to hold as overhead technical resistance in CHKP. Yet it's worth noting that traders bought the dip at $44.00 this morning. I would be tempted to launch new bearish positions on a drop to $43.80 again.

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: 12.61 change: +0.20

Stop Loss: 13.05
Target(s): 10.25
Current Gain/Loss: - 1.7%

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:
11/13/12: Hmm... is our CROX trade in trouble? An oversold bounce from $12.00 is not surprising but I was expecting the $12.50 mark to be stronger resistance. The stock is hovering near its 10-dma. Our stop loss remains at $13.05 for now. 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: 13.14 change: -0.27

Stop Loss: 14.15
Target(s): 11.50
Current Gain/Loss: + 5.3%

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:
11/13/12: Another day, another new multi-year low for shares of HPQ. It will be interesting to see if CSCO's earnings report, which came out tonight, can spark a bounce in the tech sector. HPQ and CSCO are not direct competitors but a rally in CSCO could spark some short covering across the big cap tech stocks and HPQ is probably due for another bounce.

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!



Imperva Inc. - IMPV - close: 28.96 change: -0.88

Stop Loss: 31.05
Target(s): 25.50
Current Gain/Loss: + 2.2%

Entry on November 13 at $29.60
Listed on November 12, 2012
Time Frame: 6 to 8 weeks
Average Daily Volume = 221 thousand
New Positions: see below

Comments:
11/13/12: Our new IMPV trade is off to a good start. Shares confirmed the breakdown under $30.00 with a -2.9% plunge today. Our trigger to open positions was hit at $29.60.

Earlier Comments:
We want to keep our position size small because IMPV can be a volatile stock. Our target is $25.50. FYI: The Point & Figure chart for IMPV is bearish with a $25.00 target.

current Position: short IMPV stock @ $29.60



Netgear Inc. - NTGR - close: 34.06 change: -0.22

Stop Loss: 36.05
Target(s): 30.25
Current Gain/Loss: + 1.3%

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:
11/13/12: NTGR spent the session churning sideways near the $34.00 level. I have to warn you that larger rival CSCO reported earnings tonight and currently shares of CSCO are up sharply after hours on its report. This CSCO news could spark some short covering in NTGR. I would not be surprised to see NTGR bounce to the 10-dma near $34.85 or higher, possibly the $35.50 area. 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

11/13/12 caution, CSCO's earnings could have an impact on NTGR tomorrow
11/07/12 triggered @ 34.50