Editor's Note:
We had two of our bullish candidates hit our entry triggers today (SNPS and SYMC).


Current Portfolio:


BULLISH Play Updates

Asbury Automotive Group - ABG - close: 36.45 change: -0.66

Stop Loss: 34.40
Target(s): 38.50
Current Gain/Loss: + 3.4%

Entry on January 24 at $35.25
Listed on January 23, 2013
Time Frame: Exit PRIOR to earnings on Feb. 19th
Average Daily Volume = 275 thousand
New Positions: see below

Comments:
02/06/13: ABG gave back about a third of yesterday's gains. The trend is up but if ABG were to see another pullback, we can watch for support near $35.00 or the 10-dma.

We are planning to exiting prior to the Feb. 19th earnings report.

Please note that we do want to keep our position size small to limit our risk.

*Small positions*

current Position: Long ABG stock @ $35.25

02/05/13 new stop loss @ 34.40



Acorda Therapeutics - ACOR - close: 29.32 change: +0.00

Stop Loss: 28.25
Target(s): 31.00
Current Gain/Loss: + 2.9%

Entry on January 22 at $28.50
Listed on January 19, 2013
Time Frame: 2 to 4 weeks
Average Daily Volume = 417 thousand
New Positions: see below

Comments:
02/06/13: ACOR saw an intraday dip but made it back to unchanged by the closing bell. I am not suggesting new positions.

current Position: long ACOR stock @ $28.50

02/05/13 new stop loss @ 28.25
01/30/13 new stop loss @ 27.95



Citigroup - C - close: 43.05 change: +0.13

Stop Loss: 41.49
Target(s): 48.50
Current Gain/Loss: unopened

Entry on February -- at $--.--
Listed on February 2, 2013
Time Frame: 6 to 9 weeks
Average Daily Volume = 35 million
New Positions: Yes, see below

Comments:
02/06/13: Citigroup gapped down at the open but managed to bounce back into positive territory by the closing bell. We are still waiting for a breakout to new highs.

I am suggesting a trigger to open bullish positions at $43.55. If triggered our multi-week target is $48.50. More aggressive traders may want to play the call options on C.
FYI: The Point & Figure chart for C is bullish with a long-term $56.00 target.

Trigger @ 43.55

Suggested Position: buy C stock @ (trigger)



Cognex Corp. - CGNX - close: 42.24 change: +0.70

Stop Loss: 39.85
Target(s): 44.00
Current Gain/Loss: +5.2%

Entry on February 01 at $40.15
Listed on January 26, 2013
Time Frame: Exit PRIOR to earnings on Feb. 11th
Average Daily Volume = 192 thousand
New Positions: see below

Comments:
02/06/13: CGNX continues to rally. Today's +1.6% gain left it at a new multi-month high. The company is scheduled to report earnings on Monday, Feb. 11th. Right now I am thinking we will want to exit on Friday so we only have a couple of days left.

current Position: Long CGNX stock @ $40.15

02/05/13 new stop loss @ 39.85
02/04/13 new stop loss @ $39.25



Conns Inc. - CONN - close: 29.98 change: +0.46

Stop Loss: 27.85
Target(s): 33.50
Current Gain/Loss: + 1.5%

Entry on February 05 at $29.55
Listed on February 4, 2013
Time Frame: 4 to 6 weeks
Average Daily Volume = 416 thousand
New Positions: Yes, see below

Comments:
02/06/13: CONN surged to $30.55 intraday. The stock pared its gains and settled with a +1.5% advance by the close.

Our target is $33.50. More aggressive traders could aim higher. FYI: The Point & Figure chart for CONN is bullish with a long-term $48.00 target.

current Position: Long CONN stock @ $29.55



Morgan Stanley - MS - close: 23.39 change: -0.01

Stop Loss: 21.95
Target(s): 26.00
Current Gain/Loss: + 1.0%

Entry on February 01 at $23.15
Listed on January 30, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 27 million
New Positions: see below

Comments:
02/06/13: MS didn't make any progress on Wednesday. The stock closed virtually unchanged on the session. Today's high was $23.50. Readers might want to wait for a rally past $23.50 before initiating new positions.

FYI: MS has a five-cent dividend payable on Feb. 15, 2013 and will begin trading ex-dividend on Friday, Feb. 1st.

Small Positions*

current Position: Long MS stock @ $23.15



North American Palladium - PAL - close: 1.92 change: +0.14

Stop Loss: 1.55
Target(s): 2.45
Current Gain/Loss: +16.4%

Entry on January 14 at $ 1.65
Listed on January 12, 2013
Time Frame: Exit prior to earnings on Feb. 21
Average Daily Volume = 2.8 million
New Positions: see below

Comments:
02/06/13: It was a bullish day for shares of PAL. The stock rallied past potential resistance at $1.80 and its 200-dma. Shares closed with a +7.8% gain. I am not suggesting new positions at this time.

Please note that we will plan to exit prior to PAL's earnings report on Feb. 21st if shares have not hit our exit target by then.

current Position: long PAL stock @ $1.65

02/06/13 adjusted time frame for earnings on Feb. 21st
01/30/13 new stop loss @ 1.55



Synopsys Inc. - SNPS - close: 34.30 change: +0.40

Stop Loss: 33.45
Target(s): 37.50
Current Gain/Loss: + 0.1%

Entry on February 06 at $34.25
Listed on February 2, 2013
Time Frame: exit prior to the February 20th earnings
Average Daily Volume = 1.1 million
New Positions: Yes, see below

Comments:
02/06/13: SNPS is breaking out to new relative highs. Shares hit our trigger to open bullish positions at $34.25 today. I would still consider new positions at current levels.

current Position: Long SNPS stock @ $34.25



Sonic Corp. - SONC - close: 11.33 change: +0.05

Stop Loss: 10.80
Target(s): 12.75
Current Gain/Loss: + 1.6%

Entry on January 14 at $11.15
Listed on January 12, 2013
Time Frame: 8 to 9 weeks
Average Daily Volume = 658 thousand
New Positions: see below

Comments:
02/06/13: SONC spiked down at the open but managed to recover and outperform the market by the closing bell. A rally past $11.35 could be used as a new bullish entry point.

Earlier Comments:
Our multi-week target is $12.75. We may have to be patient to give SONC time to get that far. FYI: The Point & Figure chart for SONC is bullish with a $15.50 target.

current Position: Long SONC stock @ $11.15

01/26/13 new stop loss @ $10.80



Symantec Corp - SYMC - close: 22.28 change: +0.12

Stop Loss: 21.45
Target(s): 24.90
Current Gain/Loss: - 0.1%

Entry on February 06 at $22.30
Listed on February 5, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 10 million
New Positions: see below

Comments:
02/06/13: SYMC is starting to breakout from its recent trading range. The stock hit our trigger to launch positions at $22.30 today. Today's high was $22.32. I would use a new rise above $22.32 as a new entry point to buy the stock or call options.

*Small positions*

current Position: long SYMC stock @ $22.30

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

Long Mar $23 call (SYMC1316c23) entry $0.38



BEARISH Play Updates

Peabody Energy - BTU - close: 24.16 change: +0.08

Stop Loss: 24.75
Target(s): 20.25
Current Gain/Loss: unopened

Entry on February -- at $--.--
Listed on February 5, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 7.2 million
New Positions: Yes, see below

Comments:
02/06/13: There was no follow through on yesterday's decline in BTU. The stock continues to look weak. There is no change from my prior comments.

Earlier Comments:
BTU is nearing support at $24.00 and its November low (23.80). I am suggesting a trigger to open bearish positions at $23.70. If triggered our target is $20.25.

Trigger @ 23.70

Suggested Position: short BTU stock @ (trigger)

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

buy the Mar $23 PUT (BTU1316o23)