Editor's Note:
Shares of GGC continue to outperform and hit our bullish target.

We closed our SPLK trade. CLF was triggered. We want to exit our APOL trade at the open tomorrow.

Current Portfolio:


BULLISH Play Updates

Affymax - AFFY - close: 24.26 change: +0.45

Stop Loss: 22.65
Target(s): 27.50
Current Gain/Loss: + 0.7%

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:
11/28/12: AFFY is starting to show some strength again. Today's rally back above $24.00 looks like a new bullish entry point.

*Small Positions*

current Position: long AFFY stock @ $24.10



Banner Corp. - BANR - close: 29.70 change: -0.25

Stop Loss: 28.90
Target(s): 34.00
Current Gain/Loss: - 2.6%

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:
11/28/12: I cautioned readers that we might see BANR dip toward $29.00. Sure enough the market's drop this morning pushed BANR to $29 before it bounced. I would wait for a new close above $30.00 before considering new positions.

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: 44.74 change: +0.11

Stop Loss: 43.25
Target(s): 48.00
Current Gain/Loss: + 2.0%

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:
11/28/12: It was another quiet day for BLL. Traders bought the dip at the simple 10-dma again. Readers may want to use today's intraday bounce as a new bullish entry point. 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: 38.69 change: +0.36

Stop Loss: 36.40
Target(s): 44.00
Current Gain/Loss: + 0.9%

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:
11/28/12: The intraday bounce in EZCH has pushed the stock to a new multi-week high. Readers may want to start inching up their stops.

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



Tesla Motors - TSLA - close: 32.15 change: -0.12

Stop Loss: 30.90
Target(s): 34.90
Current Gain/Loss: + 3.0%

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:
11/28/12: TSLA displayed relative strength today. I didn't see any specific news behind the rally but shares did not follow the market lower this morning. Instead TSLA sprinted higher and hit new multi-month highs before paring its gains.

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: 18.93 change: +0.46

Stop Loss: 17.85
Target(s): 20.75
Current Gain/Loss: + 4.0%

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:
11/28/12: It was a bullish day for VCLK. Traders bought the dip at its simple 10-dma and then surged to a +2.5% gain. I am raising our stop loss to $17.85.

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

11/28/12 new stop loss @ 17.85



Virgin Media, Inc. - VMED - close: 34.04 change: +0.02

Stop Loss: 33.25
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:
11/28/12: I remain cautious on VMED. The stock did bounce at its 10-dma but it barely made it back into positive territory. Please note our new stop loss at $33.25.

*small positions*

current Position: Long VMED stock @ $32.85

11/28/12 new stop loss @ 33.25
11/26/12 adjust the exit target to $34.50



BEARISH Play Updates

Apollo Group - APOL - close: 19.34 chane: +0.16

Stop Loss: 20.15
Target(s): 15.25
Current Gain/Loss: - 2.6%

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:
11/28/12: I am giving up on APOL as a bearish candidate. The stock is up four days in a row. It's not up very much and it remains under technical resistance at its 20-dma and the $20.00 level but it is definitely not cooperating. We will exit positions at the open tomorrow.

*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

11/28/12 prepare to exit early at the open tomorrow



Chesapeake Granite Wash Trust - CHKR - close: 18.53 change: +0.24

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:
11/28/12: There is no change from my prior comments on CHKR.

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: 36.82 change: +0.08

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:
11/28/12: CIT is still churning between support near $36.00 and resistance in the $37.25 area. 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)



Cliffs Natural Resources - CLF - close: 29.62 change: -0.40

Stop Loss: 31.05
Target(s): 25.25
Current Gain/Loss: + 0.0%

Entry on November 28 at $29.62
Listed on November 27, 2012
Time Frame: 4 to 6 weeks
Average Daily Volume = 7.7 million
New Positions: see below

Comments:
11/28/12: We were expecting a breakdown in CLF under support at $30.00. We were not expecting shares to gap open lower today. The stock opened at $29.62, dipped to $28.33, and then bounced to where it opened the day. Our trigger was $29.70 so the gap down triggered our play. Readers may want to wait and watch to make sure broken support at $30.00 holds as new resistance before launching new positions.

Earlier Comments:
I would classify this as a higher-risk trade because so many investors are bearish on CLF. The most recent data listed short interest at almost 20% of the 141 million-share float. That does raise the risk of a short squeeze but the trend is clearly down. We want to keep our position size small to limit our risk. You may want to use the put option to limit your risk.

*small positions*

current Position: short CLF stock @ $29.62

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

Long DEC $30 PUT (CLF1222x30) entry $1.60

11/28/12 triggered on gap down at $29.62



Imperva Inc. - IMPV - close: 28.90 change: -0.10

Stop Loss: 30.65
Target(s): 25.50
Current Gain/Loss: + 2.4%

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:
11/28/12: IMPV displayed some volatility in the first few minutes this morning and then spent the rest of the day trying to make its way higher. I remain cautious here. Readers may want to lower their stops. 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: 34.54 change: -0.12

Stop Loss: 35.15
Target(s): 30.25
Current Gain/Loss: - 0.1%

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:
11/28/12: NTGR didn't see a lot of movement today. At the end of the day the stock was showing a little relative weakness. I am cautious here. 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 BULLISH PLAYS

Georgia Gulf - GGC - close: 46.74 change: +0.77

Stop Loss: 41.40
Target(s): 46.75
Current Gain/Loss: +10.8%

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:
11/28/12: Target achieved.

GGC hit our new exit target at $46.75 today. Shares are growing more and more overbought. Sooner or later it's going to see a correction.

closed Position: Long GGC stock @ $42.18 exit $46.75 (+10.8%)

11/28/12 target hit
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

chart:



Splunk, Inc. - SPLK - close: 28.96 change: -0.10

Stop Loss: 28.15
Target(s): 29.75
Current Gain/Loss: + 5.1%

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:
11/28/12: We have run out of time with our SPLK trade. The plan was to exit today at the closing bell to avoid holding over earnings due out tomorrow.

*small positions*

closed Position: Long SPLK stock @ $27.55 exit $28.96 (+5.1%)

11/28/12 closed ahead of earnings
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

chart: