Editor's Note:
The small cap index and the NASDAQ managed to extend their gains on Monday. Some of our bearish trades look like they might be turning against us. Double check your stop loss placement.

Current Portfolio:


BULLISH Play Updates

Affymax - AFFY - close: 23.55 change: -0.82

Stop Loss: 22.65
Target(s): 27.50
Current Gain/Loss: - 2.3%

Entry on November 26 at $24.10
Listed on November 21, 2012
Time Frame: 3 to 6 weeks
Average Daily Volume = 678 thousand
New Positions: Yes, see below

Comments:
11/26/12: The biotech sector hit some profit taking today and AFFY followed it lower. Fortunately traders did buy the dip midday. They bought the dip in AFFY near its rising 50-dma. More conservative traders might want to raise their stops closer to today's lows. I would use a bounce from current levels as a new entry point.

*Small Positions*

current Position: long AFFY stock @ $24.10



Banner Corp. - BANR - close: 30.48 change: +0.48

Stop Loss: 28.90
Target(s): 34.00
Current Gain/Loss: - 0.0%

Entry on November 21 at $30.49
Listed on November 20, 2012
Time Frame: 8 to 10 weeks
Average Daily Volume = 157 thousand
New Positions: see below

Comments:
11/26/12: BANR was showing some relative strength today with a +1.6% gain. The stock actually tagged a new high at $30.85 intraday. I don't see any changes from my prior comments.

NOTE: BANR doesn't move very fast. This trade could take a couple of months.

*Small Positions*

current Position: Long BANR stock @ $30.49

11/21/12 out trade opened on the gap higher.



Ball Corp. - BLL - close: 44.78 change: -0.29

Stop Loss: 43.25
Target(s): 48.00
Current Gain/Loss: + 2.1%

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:
11/26/12: Shares of BLL were downgraded this morning. That sparked a drop toward $44.20 before shares recovered. Overall the trend is still up. More conservative traders may want to tighten stops closer to the $44 level.

current Position: Long BLL stock @ $43.85

11/24/12 new stop loss @ 43.25
11/17/12 new stop loss @ 42.55
11/06/12 triggered @ 43.85



Georgia Gulf - GGC - close: 45.65 change: -0.07

Stop Loss: 40.90
Target(s): 47.50
Current Gain/Loss: + 8.2%

Entry on November 19 at $42.18
Listed on November 13, 2012
Time Frame: 6 to 9 weeks
Average Daily Volume = 773 thousand
New Positions: see below

Comments:
11/26/12: The fact that GGC did not see much profit taking today is encouraging. Although the stock remains overbought and due for a pullback. I am not suggesting new positions at this time. Readers may want to start taking profits now.

FYI: The Point & Figure chart for GGC is bullish with a quadruple top breakout buy signal and a long-term $73 target.

current Position: Long GGC stock @ $42.18

11/21/12 new stop loss @ 40.90
11/19/12 triggered on gap open higher at $42.18. trigger was 41.50
adjusted our exit target ot $47.50
11/17/12 adjust the stop to $39.15



Splunk, Inc. - SPLK - close: 28.80 change: -0.09

Stop Loss: 27.75
Target(s): 29.75
Current Gain/Loss: + 4.5%

Entry on November 16 at $27.55
Listed on November 15, 2012
Time Frame: exit prior to earnings on Nov. 29th
Average Daily Volume = 1.0 million
New Positions: see below

Comments:
11/26/12: SPLK is still hovering under technical resistance at its 30-dma. I want to remind readers that we want to avoid holding over the earnings report on Nov. 29th. We will plan to exit positions on Nov. 28th at the closing bell.

I am not suggesting new positions.

*small positions*

current Position: Long SPLK stock @ $27.55

11/26/12 plan to exit on Nov. 28th at the close if SPLK doesn't hit our target or our stop loss first
11/24/12 new stop loss @ 27.75, move exit target to $29.75
11/21/12 new stop loss @ 27.30
11/20/12 new stop loss @ 26.95
11/17/12 new stop loss @ 26.75
11/16/12 triggered @ 27.55



Tesla Motors - TSLA - close: 32.27 change: +0.14

Stop Loss: 30.90
Target(s): 34.90
Current Gain/Loss: + 0.1%

Entry on November 19 at $32.25
Listed on November 15, 2012
Time Frame: 6 to 8 weeks
Average Daily Volume = 1.0 million
New Positions: see below

Comments:
11/26/12: Monday was a quiet session for TSLA. Shares dipped under their 10-dma but recovered by the close. I am not suggesting new positions at this time.

Earlier Comments:
There is a good chance that TSLA could see a short squeeze. The most recent data listed short interest at 62% of the 76 million-share float.

current Position: Long TSLA stock @ $32.25

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

Long Dec $33 call (TSLA1222L33) entry $0.90

11/24/12 new stop loss @ 30.90



ValueClick, Inc. - VCLK - close: 18.51 change: -0.11

Stop Loss: 17.45
Target(s): 20.75
Current Gain/Loss: + 1.7%

Entry on November 20 at $18.20
Listed on November 19, 2012
Time Frame: 4 to 6 weeks
Average Daily Volume = 666 thousand
New Positions: see below

Comments:
11/26/12: Profit taking in VCLK pulled shares down to $18.13 intraday but traders were in a buy-the-dip mood. The stock managed to recoup most of its losses. As expected the $18.00 level seems to be acting as new support.

Earlier Comments:
I will point out that VCLK could see potential resistance at $19.50 and the $20.00 mark. I would keep our position size small. VCLK has been volatile in the past.

current Position: Long VCLK stock @ $18.20



Virgin Media, Inc. - VMED - close: 34.29 change: +0.28

Stop Loss: 31.70
Target(s): 34.50
Current Gain/Loss: + 4.4%

Entry on November 19 at $32.85
Listed on November 15, 2012
Time Frame: 6 to 8 weeks
Average Daily Volume = 3.5 million
New Positions: see below

Comments:
11/26/12: VMED continues to show relative strength. The stock added +0.8% on Monday and is nearing its October high.

Please note that I am adjusting our strategy on this trade. We want to exit at $34.50. Odds are good that VMED will near the October high and pullback. We can look for a new entry point on a pullback near $33-32 again.

*small positions*

current Position: Long VMED stock @ $32.85

11/26/12 adjust the exit target to $34.50



BEARISH Play Updates

Apollo Group - APOL - close: 18.91 chane: +0.05

Stop Loss: 20.15
Target(s): 15.25
Current Gain/Loss: - 0.3%

Entry on November 26 at $18.85
Listed on November 21, 2012
Time Frame: 3 to 6 weeks
Average Daily Volume = 678 thousand
New Positions: see below

Comments:
11/26/12: APOL opened at $18.85 before spiked to $19.31 early this morning. Shares remain under resistance at $20.00 and its trend of lower highs. I would still consider new bearish positions now at current levels.

More conservative traders could wait for a new relative low under $18.30 as your entry point to launch positions.

We want to keep our position size small to limit our risk. Sometimes a short squeeze will produce a brief, sharp spike higher in APOL. You may want to use the put options to limit your risk.

*Small Positions*

current Position: short APOL stock @ $18.85

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

Long 2013 Jan $17 PUT (APOL1319m17) entry $0.84



CIT Group - CIT - close: 36.43 change: -0.77

Stop Loss: 37.05
Target(s): 33.25
Current Gain/Loss: unopened

Entry on November xx at $ xx.xx
Listed on November 21, 2012
Time Frame: 3 to 6 weeks
Average Daily Volume = 1.5 million
New Positions: Yes, see below

Comments:
11/26/12: CIT underperformed the market today with a -2.0% decline. Yet shares remain above support at the $36.00 level. I am suggesting we use a trigger at $35.90 to launch small bearish positions. Our target is $33.25.

Trigger @ 35.90

Suggested Position: short CIT stock @ (trigger)

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

buy the 2013 Jan $35 PUT (CIT1319m35)



Crocs, Inc. - CROX - close: 12.35 change: -0.08

Stop Loss: 12.75
Target(s): 10.25
Current Gain/Loss: + 0.4%

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:
11/26/12: Shares of CROX faded lower and settled with a -0.6% decline. There is no change from my prior comments. Readers may want to close positions early. Currently our stop is at $12.75. I am not suggesting new positions.

Earlier Comments:
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

11/17/12 new stop loss @ 12.75
11/07/12 triggered @ $12.40



Imperva Inc. - IMPV - close: 29.38 change: +0.86

Stop Loss: 30.65
Target(s): 25.50
Current Gain/Loss: + 0.7%

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:
11/26/12: Be careful here. IMPV was showing relative strength with a +3.0% gain today. The stock remains under resistance at $30.00 but it seems to be edging closer to a bullish breakout higher. I am not suggesting new positions at this time.

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

11/19/12 new stop loss @ 30.65



Netgear Inc. - NTGR - close: 34.82 change: +0.62

Stop Loss: 35.15
Target(s): 30.25
Current Gain/Loss: - 0.9%

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:
11/26/12: Bears should be careful with NTGR as well. The bounce today almost looks bullish. The stock is nearing resistance at the $35.00 level. A breakout there and NTGR will likely hit our stop loss at $35.15. No 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

11/14/12 new stop loss @ 35.15
11/13/12 caution, CSCO's earnings could have an impact on NTGR tomorrow
11/07/12 triggered @ 34.50



Vistaprint N.V. - VPRT - close: 29.64 change: +0.01

Stop Loss: 30.25
Target(s): 25.25
Current Gain/Loss: - 3.3%

Entry on November 15 at 28.68
Listed on November 14, 2012
Time Frame: 4 to 6 weeks
Average Daily Volume = 364 thousand
New Positions: see below

Comments:
11/26/12: Today's session in VPRT looks almost identical to Friday with traders buying the morning pullback. The stock remains under resistance at $30.00 for now but if the market were to suddenly see another bout of strength we might see VPRT breakout higher and hit our stop. I am not suggesting new positions at this time.

Earlier Comments:
The plan was to keep our position size small.

current Position: short VPRT stock @ $28.68



CLOSED BULLISH PLAYS

McMoRan Exploration - MMR - close: 9.65 change: -2.80

Stop Loss: 11.90
Target(s): 15.00-16.00 zone
Current Gain/Loss: - 4.7%

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:
11/26/12: Monday proved to be an ugly day for shares of MMR with a -22.4% plunge. MMR did not have a satisfactory well test in one of its drilling sites in the Gulf of Mexico. That news sparked a sharp sell-off. Fortunately for us we had already decided to close positions and exit at the open this morning. MMR opened at $12.40.

closed Position: Long MMR stock @ $13.01 exit $12.40 (-4.7%)

11/26/12 planned exit at the open
11/24/12 prepare to exit early on Monday morning.

chart:



Taiwan Semiconductor - TSM - close: 16.62 chagne: -0.22

Stop Loss: 15.75
Target(s): 18.50
Current Gain/Loss: + 4.3%

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:
11/26/12: Not surprisingly TSM saw some profit taking today after Friday's surge higher. We had decided over the weekend to exit positions on Monday morning at the open.

closed Position: Long TSM stock @ $16.15 exit $16.85 (+4.3%)

11/26/12 planned exit
11/24/12 prepare to exit early on Monday morning
11/17/12 new stop loss @ 15.75
11/13/12 triggered @ 16.15
11/12/12 adjust trigger to $16.15

chart: