Editor's Note:
Shares of VMED hit our bullish target today.

Our NTGR trade was stopped out. We closed APOL this morning.

Current Portfolio:


BULLISH Play Updates

Affymax - AFFY - close: 24.77 change: +0.51

Stop Loss: 22.65
Target(s): 27.50
Current Gain/Loss: + 2.8%

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:
11/29/12: AFFY seems to be gaining strength. Shares added +2.1% today. It's possible the $25.00 level could be round-number resistance. I am not suggesting new positions at this time.

*Small Positions*

current Position: long AFFY stock @ $24.10



Banner Corp. - BANR - close: 29.83 change: +0.13

Stop Loss: 28.90
Target(s): 34.00
Current Gain/Loss: - 2.2%

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:
11/29/12: BANR spent the day churning under the $30.00 level. 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: +0.00

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:
11/29/12: It looks like shares of BLL closed unchanged today at $44.74 but in reality the stock is up 10 cents. Shares began trading ex-dividend for its quarterly 10-cent dividend this morning.

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: 38.85 change: +0.16

Stop Loss: 36.40
Target(s): 44.00
Current Gain/Loss: + 1.3%

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:
11/29/12: Shares of EZCH ignored an analyst downgrade today and rebounded to close up +0.4%. There is no change from my prior comments. 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: 33.69 change: +0.46

Stop Loss: 30.90
Target(s): 34.90
Current Gain/Loss: + 4.5%

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:
11/29/12: Traders bought the dip in TSLA midday and the stock outperformed with a +1.3% gain. Readers may want to start inching up their stop loss.

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: 18.91 change: -0.02

Stop Loss: 17.85
Target(s): 20.75
Current Gain/Loss: + 3.9%

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:
11/29/12: Thursday turned out to be a very quiet session for VCLK. The stock drifted sideways to close almost unchanged on the day.

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



BEARISH Play Updates

Chesapeake Granite Wash Trust - CHKR - close: 18.59 change: +0.06

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:
11/29/12: The rally this morning failed near $19 but CHKR still managed to eke out a gain. 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: 37.00 change: +0.18

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:
11/29/12: CIT continues to churn in its narrowing trading range.

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: 28.89 change: -0.72

Stop Loss: 31.05
Target(s): 25.25
Current Gain/Loss: + 2.5%

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:
11/29/12: Traders sold into strength this morning. CLF's bounce reversed into a -2.4% decline. This looks like a new entry point.

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: 29.36 change: +0.46

Stop Loss: 30.65
Target(s): 25.50
Current Gain/Loss: + 0.8%

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:
11/29/12: IMPV is eating away at any gains as it churns under resistance near $30.00. Readers may want to just exit early now. 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



MICROS Systems - MCRS - close: 43.62 change: +0.47

Stop Loss: 44.05
Target(s): 40.10
Current Gain/Loss: unopened

Entry on November xx at $ xx.xx
Listed on November 28, 2012
Time Frame: 3 to 6 weeks
Average Daily Volume = 542 thousand
New Positions: Yes, see below

Comments:
11/29/12: MCRS gapped open higher this morning thanks to an upgrade. Yet traders sold the rally near short-term resistance. There is no change from my prior comments.

The November low was $42.95. I am suggesting a trigger to open bearish positions at $42.85. If triggered our target is $40.10. More aggressive traders could aim for the 2011 lows (near $38.50).

Trigger @ 42.85

Suggested Position: short MCRS stock @ (trigger)



CLOSED BULLISH PLAYS

Virgin Media, Inc. - VMED - close: 34.51 change: +0.47

Stop Loss: 33.25
Target(s): 34.50
Current Gain/Loss: + 5.0%

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:
11/29/12: VMED hit our new target at $34.50. A breakout here would be a new record high. We wanted to take the safer bet and exit near its 2012 October high than risk seeing it reverse there. I would keep VMED on your watch list to buy a dip near the trend of higher lows.

*small positions*

closed Position: Long VMED stock @ $32.85 exit $34.50 (+5.0%)

11/29/12 target hit
11/28/12 new stop loss @ 33.25
11/26/12 adjust the exit target to $34.50

chart:



CLOSED BEARISH PLAYS

Apollo Group - APOL - close: 19.58 chane: +0.24

Stop Loss: 20.15
Target(s): 15.25
Current Gain/Loss: - 3.2%

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:
11/29/12: APOL has not been cooperating. Shares posted yet another gain making it five days in a row. Our plan was to exit at the open this morning.

*Small Positions*

closed Position: short APOL stock @ $18.85 exit $19.45 (-3.2%)

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

2013 Jan $17 PUT (APOL1319m17) entry $0.84 exit $0.56*(-33.3%)

11/29/12 closed this morning
*option exit price is an estimate since the option did not trade at the time our play was closed.
11/28/12 prepare to exit early at the open tomorrow

chart:



Netgear Inc. - NTGR - close: 35.40 change: +0.86

Stop Loss: 35.15
Target(s): 30.25
Current Gain/Loss: - 1.9%

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:
11/29/12: I didn't see any specific news to account for the relative strength in NTGR today. The stock initially failed at resistance near $35.00 this morning. Traders bought the dip soon thereafter and NTGR broke out higher and hit our stop loss at $35.15.

closed Position: short NTGR stock @ $34.50 exit $35.15 (-1.9%)

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

DEC $33 PUT (NTGR1222x33) entry $1.00 exit $0.35 (-65.0%)

11/29/12 stopped out at $35.15
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

chart: