Editor's Note:
Today we closed a couple of our bullish trades to lock in gains. The plan was to exit CRAY and PGR this morning at the open, which coincidentally helped us avoid most of today's losses.

I have removed YELP as a candidate. TSLA was triggered. I am suggesting we exit our MWV trade at the open tomorrow.


Current Portfolio:


BULLISH Play Updates

CSX Corp. - CSX - close: 23.92 change: -0.38

Stop Loss: 23.49
Target(s): 26.50
Current Gain/Loss: unopened

Entry on March -- at $--.--
Listed on March 19, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 8.7 million
New Positions: Yes, see below

Comments:
03/21/13: Transportation stocks were hit harder today within the market's sell-off. Railroad stocks were no exception and CSX gave back -1.5%. The overall trend is still up and CSX could bounce at the simple 10-dma near $23.75. Currently our plan is to launch positions at $24.40.
FYI: The Point & Figure chart for CSX is bullish with a $34.50 target.

Trigger @ 24.40

Suggested Position: buy CSX stock @ (trigger)



iShares Japan Index - EWJ - close: 10.73 change: +0.00

Stop Loss: 10.18
Target(s): 11.40
Current Gain/Loss: + 2.8%

Entry on March 12 at $10.44
Listed on March 11, 2013
Time Frame: 9 to 12 weeks
Average Daily Volume = 30 million
New Positions: see below

Comments:
03/21/13: The EWJ tagged a new relative high at $10.76. Actually that level was pretty much a lid for this ETF today. Shares closed unchanged on the session. If this ETF does see some profit taking look for short-term support near $10.60 and the 10-dma.

Earlier Comments:
We have a longer-term time frame for this trade to work. If you're going to play it, be patient.

Current Position: Long the EWJ @ $10.44

03/20/13 new stop loss @ 10.18



Mattel, Inc. - MAT - close: 42.58 change: +0.28

Stop Loss: 40.95
Target(s): 44.85
Current Gain/Loss: + 3.0%

Entry on March 06 at $41.35
Listed on March 02, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 2.7 million
New Positions: see below

Comments:
03/21/13: MAT continues to show relative strength with a +0.6% gain. The stock closed at new multi-year highs. I am raising our stop loss to $40.95. I am not suggesting new positions at this time.

Earlier Comments:
Our long-term target is $44.85. We may have to exercise some patience on this trade. It could take a while to get to the $45.00 level since MAT doesn't move very fast but the long-term trend is definitely higher.

current Position: Long MAT stock @ $41.35

03/21/13 new stop loss at $40.95
03/20/13 new stop loss at $40.75



MeadWestvaco Corp. - MWV - close: 36.77 change: -1.23

Stop Loss: 36.65
Target(s): 39.25
Current Gain/Loss: + 0.3%

Entry on March 11 at $36.65
Listed on March 09, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 1.3 million
New Positions: see below

Comments:
03/21/13: Ouch! MWV erased several days of gains with a -3.2% plunge. The breakdown below its simple 10-dma is short-term bearish. I could not find any specific news to account for the relative weakness. It just looks like traders rushing to lock in profits. I am suggesting we exit positions immediately at the opening bell tomorrow morning.

NOTE: Unfortunately the spread on our April $35 call has exploded to bid $1.55/ask $4.10.

current Position: long MWV stock @ $36.65

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

Long Apr $35 call (MWV1320D35) entry $2.20

03/21/13 prepare to exit at the opening bell tomorrow
03/20/13 new stop loss @ 36.65
03/16/13 adjust exit target to $39.25.
03/14/13 new stop loss @ 35.95 and adjust exit target to $39.50



Tesla Motors - TSLA - close: 36.01 change: +0.06

Stop Loss: 34.90
Target(s): 39.25
Current Gain/Loss: - 0.5%

Entry on March 21 at $36.20
Listed on March 19, 2013
Time Frame: 3 to 6 weeks
Average Daily Volume = 2.2 million
New Positions: see below

Comments:
03/21/13: TSLA displayed relative strength this morning but reversed midday and gave back almost all of its gains. The stock failed near the convergence of its 10, 30 and 40-dma. Our trade opened at $36.20. However, I would not launch new positions until we see TSLA rally past $36.25 again.

Earlier Comments:
If shares can breakout past $40.00 it could really fly on a short squeeze. The most recent data listed short interest at 64% of the 72 million share float.

current Position: long TSLA stock @ $36.20



Xerox Corp. - XRX - close: 8.55 change: -0.21

Stop Loss: 8.49
Target(s): 9.90
Current Gain/Loss: unopened

Entry on March -- at $--.--
Listed on March 16, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 9.8 million
New Positions: Yes, see below

Comments:
03/21/13: XRX completely erased yesterday's gains. The stock has reversed and is testing the bottom of its recent trading range. A breakdown under $8.50 would be bearish and we'd likely drop XRX as an active candidate.

Currently, I am suggesting a trigger to launch small bullish positions at $8.90. If triggered our target is $9.90.

NOTE: XRX will begin trading ex-dividend for its next dividend of 5.75 cents a share on March 26, 2013.

Trigger @ 8.90 *small positions*

Suggested Position: buy XRX stock @ (trigger)

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

buy the Jul $9.00 call (XRX13G9)



BEARISH Play Updates

Brunswick Corp - BC - close: 34.04 change: -0.77

Stop Loss: 35.30
Target(s): 30.30
Current Gain/Loss: - 0.4%

Entry on March 18 at $33.78
Listed on March 12, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 786 thousand
New Positions: see below

Comments:
03/21/13: The bounce in BC has reversed with a -2.2% decline. The low this week so far is $33.36. Readers might want to wait for a new relative low below this level as an entry point for new bearish positions.

Suggested Position: short BC stock @ $33.78

03/18/13 triggered on gap down at $33.78. Trigger was $33.90



Garmin Ltd. - GRMN - close: 33.15 change: -0.32

Stop Loss: 35.05
Target(s): 30.25
Current Gain/Loss: +2.3%

Entry on March 20 at $33.93
Listed on March 19, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 1.5 million
New Positions: see below

Comments:
03/21/13: GRMN continues to sink with a new 52-week low. Readers may want to start adjusting their stop loss lower.

current Position: short GRMN stock @ $33.93

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

Long Apr $33 PUT (GRMN1320P33) entry $0.39



Teck Resources - TCK - close: 28.09 change: -0.37

Stop Loss: 29.25
Target(s): 26.25
Current Gain/Loss: +3.1%

Entry on March 19 at $29.00
Listed on March 18, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 2.0 million
New Positions: see below

Comments:
03/21/13: There was no follow through on yesterday's oversold bounce. The stock looks poised to break down below the $28.00 level soon.

current Position: short TCK stock @ $29.00

03/19/13 new stop loss @ 29.25



CLOSED BULLISH PLAYS

Cray Inc. - CRAY - close: 21.61 change: -0.57

Stop Loss: 19.80
Target(s): 22.25
Current Gain/Loss: + 9.9%

Entry on March 04 at $20.15
Listed on March 02, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 419 thousand
New Positions: see below

Comments:
03/21/13: CRAY gave back almost all of yesterday's gains thanks to the market's sell-off today. Our plan was to exit positions at the opening bell this morning. CRAY opened at $22.14.

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

*Small Positions*

closed Position: long CRAY stock @ $20.15 exit $22.14 (+9.9%)

03/21/13 closed this morning
03/20/13 prepare to exit tomorrow morning at the open
03/16/13 new stop loss @ 19.80
03/13/13 new stop loss @ 19.65
03/04/13 triggered @ $20.15

chart:



Progressive Corp. - PGR - close: 24.84 change: -0.09

Stop Loss: 24.45
Target(s): 26.00
Current Gain/Loss: + 5.9%

Entry on February 11 at $23.52
Listed on February 9, 2013
Time Frame: 9 to 12 weeks
Average Daily Volume = 4.8 million
New Positions: see below

Comments:
03/21/13: We were growing worried that PGR's upward momentum was waning. Last night we decided it would be best to exit positions immediately this morning. PGR opened lower at $24.90.

closed Position: Long PGR stock @ $23.52 exit $24.90 (+5.9%)

03/21/13 closed this morning
03/20/13 prepare to exit at the opening bell tomorrow
03/13/13 new stop loss @ 24.45
03/02/13 new stop loss @ 23.90
02/23/13 new stop loss @ 23.75
02/20/13 new stop loss @ 23.40
02/13/13 new stop loss @ 22.95

chart:



Yelp, Inc. - YELP - close: 24.00 change: -0.12

Stop Loss: 23.90
Target(s): 29.00
Current Gain/Loss: unopened

Entry on March -- at $--.--
Listed on March 16, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 1.2 million
New Positions: see below

Comments:
03/21/13: YELP is not working for us. Our trade has not opened yet with a suggested entry trigger at $25.60. I am removing YELP as a candidate.

Trade did not open.

03/21/13 removed YELP as a candidate.

chart: