Editor's Note:
Shares of electric carmaker Tesla Motors (TSLA) hit our bullish target today.

Elsewhere we saw our MCRS trade triggered. I have removed SKUL.

Current Portfolio:


BULLISH Play Updates

Affymax - AFFY - close: 24.32 change: -0.12

Stop Loss: 22.65
Target(s): 27.50
Current Gain/Loss: + 0.9%

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: , see below

Comments:
12/03/12: Traders bought the dip in AFFY this morning and shares pared their losses to just -05%. I'd rather see a bounce off the 50-dma before considering new positions.

*Small Positions*

current Position: long AFFY stock @ $24.10



Bank of America - BAC - close: 9.80 change: -0.06

Stop Loss: 9.65
Target(s): 11.50
Current Gain/Loss: unopened

Entry on December xx at $ xx.xx
Listed on December 01, 2012
Time Frame: 6 to 8 weeks
Average Daily Volume = 150 million
New Positions: Yes, see below

Comments:
12/03/12: The financials turned lower on Monday. BAC's early morning rallied hit $9.94 before turning south. We are waiting for a breakout past resistance.

I am suggesting a trigger to open bullish positions at $10.10. If triggered our target is $11.50. More aggressive traders could aim for $12.00. This is a multi-week trade.

Trigger @ 10.10

Suggested Position: buy BAC stock @ (trigger)

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

buy the 2013 Jan $10 call (BAC1319a10)



Banner Corp. - BANR - close: 30.33 change: +0.28

Stop Loss: 28.90
Target(s): 34.00
Current Gain/Loss: - 0.5%

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:
12/03/12: BANR displayed a little bit of relative strength with a push up through the $30.00 level. The stock posted a +0.9% gain. 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: 43.94 change: -0.75

Stop Loss: 43.25
Target(s): 48.00
Current Gain/Loss: + 0.2%

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:
12/03/12: Ouch! BLL had been holding up well last week. Unfortunately the rally this morning reversed at resistance near $45.00. The stock underperformed with a -1.6% drop. This is a new two-week low. The $44 level should have been short-term support. I am concerned and readers may want to tighten their stops.

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: 37.39 change: -0.52

Stop Loss: 36.40
Target(s): 44.00
Current Gain/Loss: - 2.5%

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: see below

Comments:
12/03/12: EZCH underperformed both the NASDAQ and the SOX semiconductor index today. Shares broke down under short-term technical support at the 10-dma but traders bought the dip at its 200-dma. I am not suggesting new positions at this time.

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



PerkinElmer Inc. - PKI - close: 31.41 change: -0.24

Stop Loss: 29.70
Target(s): 35.75
Current Gain/Loss: unopened

Entry on December xx at $ xx.xx
Listed on December 01, 2012
Time Frame: 6 to 9 weeks
Average Daily Volume = 661 thousand
New Positions: Yes, see below

Comments:
12/03/12: Hmm... PKI tagged a new high this morning before reversing. Traders bought the dip at the 10-dma. Yet if you put it all together today's session has produced a bearish engulfing candlestick reversal pattern. We'll have to see if PKI confirms this reversal. At the moment we're still on the sidelines.

I am suggesting a trigger to open bullish positions at $32.00. Our multi-week target is $35.75 as the $36.00 level looks like resistance. We will need to be patient as PKI doesn't move very fast.

Trigger @ 32.00

Suggested Position: buy PKI stock @ (trigger)



ValueClick, Inc. - VCLK - close: 18.88 change: +0.01

Stop Loss: 17.85
Target(s): 20.75
Current Gain/Loss: + 3.7%

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:
12/03/12: VCLK spiked to a new high above $19.00 only to give back all of its gain and close virtually unchanged on the day. I would expect a dip back toward the 10-dma or the $18.50 level.

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: 18.26 change: -0.40

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:
12/03/12: The rebound in CHKR failed at its 10-dma. Shares reversed into a -2.1% decline. The stock looks poised to break support near $18.00 soon.

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: 36.67 change: -0.38

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:
12/03/12: CIT reversed at its short-term trend of lower highs. There is no change from my prior comments.

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: 28.40 change: -0.35

Stop Loss: 30.55
Target(s): 25.25
Current Gain/Loss: + 4.1%

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:
12/03/12: CLF tagged another new multi-year low and closed with a -1.2% decline. The 10-dma has fallen to $30.43. I am lowering our stop loss to $30.55.

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

12/03/12 new stop loss @ $30.55
11/28/12 triggered on gap down at $29.62



MICROS Systems - MCRS - close: 42.35 change: -1.11

Stop Loss: 44.05
Target(s): 40.10
Current Gain/Loss: + 1.2%

Entry on December 03 at $42.85
Listed on November 28, 2012
Time Frame: 3 to 6 weeks
Average Daily Volume = 542 thousand
New Positions: see below

Comments:
12/03/12: Our MCRS trade is off to a strong start. Shares failed at resistance near $44 and its 20-dma and then reversed into a -2.5% decline. The stock broke down to new 52-week lows and hit our trigger to open bearish positions at $42.85.

current Position: short MCRS stock @ $42.85

12/03/12 triggered at $42.85



CLOSED BULLISH PLAYS

Skullcandy, Inc. - SKUL - close: 8.11 change: -0.51

Stop Loss: 8.45
Target(s): 11.50
Current Gain/Loss: unopened

Entry on November xx at $ xx.xx
Listed on November 29, 2012
Time Frame: 6 to 8 weeks
Average Daily Volume = 702 thousand
New Positions: see below

Comments:
12/03/12: SKUL turned sharply lower today. Most of the market saw a rally Monday morning. Not so for SKUL. There was a brief move higher that quickly reversed and SKUL underperformed with a -5.9% drop. Our trade has not opened yet and it's unlikely that SKUL will hit our entry trigger at $9.05 soon. We are removing SKUL as a candidate.

Trade did not open.

12/03/12 trade did not open. removed SKUL as a candidate.

chart:



Tesla Motors - TSLA - close: 34.62 change: +0.80

Stop Loss: 30.90
Target(s): 34.90
Current Gain/Loss: + 8.2%

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:
12/03/12: Target hit.

TSLA continued to show relative strength on Monday. The stock surged to round-number resistance at $35.00 before trimming its gains. Our exit target was hit at $34.90.

closed Position: Long TSLA stock @ $32.25 exit $34.90 (+8.2%)

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

Dec $33 call (TSLA1222L33) entry $0.90 exit $1.90 (+111.1%)

12/03/12 target hit
11/24/12 new stop loss @ 30.90

chart: