Editor's Note:
The market's major indices are starting to see some profit taking after a multi-day bounce.

Our EZCH trade was triggered. CROX and VPRT have been stopped out.

Current Portfolio:


BULLISH Play Updates

Affymax - AFFY - close: 23.81 change: +0.26

Stop Loss: 22.65
Target(s): 27.50
Current Gain/Loss: - 1.2%

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:
11/27/12: AFFY delivered a bounce but it was only a fraction of yesterday's loss. Readers may want to wait for some follow through and look for a rise past today's high (24.10) before considering new bullish positions.

*Small Positions*

current Position: long AFFY stock @ $24.10



Banner Corp. - BANR - close: 29.95 change: -0.53

Stop Loss: 28.90
Target(s): 34.00
Current Gain/Loss: - 1.8%

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:
11/27/12: BANR erased yesterday's gains. The stock remains inside its bullish channel but the recent performance is starting to feel a little like a top. I would expect a dip toward $29.00 soon. I am not suggesting new positions at this time.

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: 44.63 change: -0.15

Stop Loss: 43.25
Target(s): 48.00
Current Gain/Loss: + 1.8%

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:
11/27/12: Today looks a lot like yesterday for BLL. Traders bought the dip again but the stock didn't make much progress higher. 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



EZchip Semiconductor - EZCH - close: 38.33 change: +0.41

Stop Loss: 36.40
Target(s): 44.00
Current Gain/Loss: - 0.1%

Entry on November 27 at $38.35
Listed on November 26, 2012
Time Frame: 6 to 12 weeks
Average Daily Volume = 414 thousand
New Positions: Yes, see below

Comments:
11/27/12: EZCH continues to show strength. The stock has broken out past resistance near $38.00 and hit our trigger to open bullish positions at $38.35. Our multi-week target is $44.00. I would expect a pullback on the first test of potential resistance at $40.00.

current Position: Long EZCH stock @ $38.35



Georgia Gulf - GGC - close: 45.97 change: +0.32

Stop Loss: 41.40
Target(s): 46.75
Current Gain/Loss: + 9.0%

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:
11/27/12: GGC continues to rise with a +0.7% gain today. I am adjusting our exit target down from $47.50 to $46.75. I am raising our stop loss to $41.40. 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

11/27/12 new stop loss @ 41.40, adjust exit to $46.75
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: 29.06 change: +0.26

Stop Loss: 28.15
Target(s): 29.75
Current Gain/Loss: + 5.5%

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:
11/27/12: SPLK displayed strength today with a +0.9% gain and a close above its 30-dma. Too bad we're out of time. Tomorrow is our last day. We will plan to exit on Nov. 28th at the closing bell (unless shares hit our target at $29.75 first). I am adjusting our stop loss to $28.15.

*small positions*

current Position: Long SPLK stock @ $27.55

11/27/12 new stop loss @ 28.15, exit tomorrow at the close
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: 32.15 change: -0.12

Stop Loss: 30.90
Target(s): 34.90
Current Gain/Loss: - 0.3%

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:
11/27/12: TSLA is still churning sideways. 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: 18.47 change: -0.04

Stop Loss: 17.45
Target(s): 20.75
Current Gain/Loss: + 1.5%

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:
11/27/12: VCLK spent most of the day consolidating sideways. If the market dips I would look for a pullback to the $18.00 level or the 10-dma.

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: 34.02 change: -0.27

Stop Loss: 31.70
Target(s): 34.50
Current Gain/Loss: + 3.6%

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:
11/27/12: Readers may want to start taking profits now. VMED's upward momentum seems to be slowing. Yesterday we adjusted our exit target down to $34.50 but you may want to exit now.

*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: 19.18 chane: +0.27

Stop Loss: 20.15
Target(s): 15.25
Current Gain/Loss: - 1.8%

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:
11/27/12: APOL is up for a third day in a row. I expect this bounce to roll over soon. More conservative traders may want to tighten stops closer to today's high (19.49).

Earlier Comments:
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



Chesapeake Granite Wash Trust - CHKR - close: 18.29 change: +0.08

Stop Loss: 18.75
Target(s): 16.40
Current Gain/Loss: unopened

Entry on November xx at $ xx.xx
Listed on November 26, 2012
Time Frame: 6 to 8 weeks
Average Daily Volume = 226 thousand
New Positions: Yes, see below

Comments:
11/27/12: The intraday bounce in CHKR failed and shares closed near their lows for the session. There is no change from my prior comments.

Earlier Comments:
The current trend of lower highs and lower lows would suggest CHKR is poised to new hit new lows. I am suggesting a trigger to open small bearish positions at $17.90. Our initial target is $16.40 but we might reconsider and aim lower.

Trigger @ 17.90 *Small Positions*

Suggested Position: short CHKR stock @ (trigger)



CIT Group - CIT - close: 36.74 change: +0.31

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:
11/27/12: CIT dipped to support near $36.00 and bounced. Yet the bounce was rolling over this afternoon. We are waiting for a breakdown under $36 as our entry point. 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)



Imperva Inc. - IMPV - close: 29.00 change: -0.38

Stop Loss: 30.65
Target(s): 25.50
Current Gain/Loss: + 2.0%

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:
11/27/12: There was no follow through on yesterday's bounce in IMPV. I remain cautious here. 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: 34.66 change: -0.16

Stop Loss: 35.15
Target(s): 30.25
Current Gain/Loss: - 0.5%

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:
11/27/12: We had a close call with NTGR today. The stock rallied up to resistance at $35.00 and stalled. Yet there was an intraday spike to $35.13 this morning. Our stop loss is at $35.15. 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

11/14/12 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



CLOSED BEARISH PLAYS

Crocs, Inc. - CROX - close: 13.49 change: +1.14

Stop Loss: 12.75
Target(s): 10.25
Current Gain/Loss: - 4.4%

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:
11/27/12: Our aggressive trade on CROX has been stopped out. We can thank Goldman Sachs for that. A GS analyst upgraded shares of CROX this morning. The stock gapped open higher at $12.95 before surging to a +9.2% gain. The open at $12.95 was above our stop loss at $12.75, which closed our trade immediately.

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

*Small Positions*

closed Position: short CROX stock @ $12.40 exit $12.95 (-4.4%)

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

Dec $12 PUT (CROX1222x12) Entry $0.55 exit $0.20 (-63.6%)

11/27/12 stopped out on gap open higher (due to an upgrade)
11/17/12 new stop loss @ 12.75
11/07/12 triggered @ $12.40

chart:



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

Stop Loss: 30.25
Target(s): 25.25
Current Gain/Loss: - 5.5%

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:
11/27/12: Hmm... I didn't see any specific news to account for the spike higher in VPRT today. It may have been due to news that some insiders recently bought three million shares of VPRT. The stock gapped open near resistance at $30.00 and then spiked past $31 before paring its gains. Our stop was hit at $30.25.

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

closed Position: short VPRT stock @ $28.68 exit $30.25 (-5.5%)

chart: