Editor's Note:
The global markets are trying to ignore the financial turmoil in Cyprus but the equity market's rally has stalled.

HBI has been triggered.
MWV was closed.
XRX has been removed.


Current Portfolio:


BULLISH Play Updates

CSX Corp. - CSX - close: 24.03 change: +0.11

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:
03/23/13: The rally in CSX has paused the last couple of sessions. Shares have been churning sideways. The overall trend is still higher. 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)

chart:



iShares Japan Index - EWJ - close: 10.77 change: +0.04

Stop Loss: 10.18
Target(s): 11.40
Current Gain/Loss: + 3.2%

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:
03/23/13: The EWJ continues to rally in spite of a bounce in the yen currency. The markets are expecting the incoming Bank of Japan governor to launch another round of significant monetary easing for the country. That's helping drive the EWJ higher.

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

chart:



Hanesbrands Inc. - HBI - close: 42.74 change: +0.71

Stop Loss: 40.40
Target(s): 45.00
Current Gain/Loss: - 0.9%

Entry on March 22 at $43.14
Listed on March 21, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 1.0 million
New Positions: see below

Comments:
03/23/13: We were expecting HBI to rally but Friday's session was not what we expected. Before the opening bell on Friday HBI was upgraded by Goldman Sachs to a "buy". This sparked shares of HBI to gap open higher at $43.14 and spike to $44.54 intraday. Since our trigger to launch positions was $42.25 the gap open higher opened our trade. I would wait for a dip back into the $42.25-42.00 zone before considering new bullish positions.

I am also raising our stop loss to $40.40

*Small Positions*

current Position: long HBI stock @ $43.14

03/23/13 new stop loss @ 40.40
03/22/13 triggered on gap open higher at $43.14, trigger was $42.25

chart:



Mattel, Inc. - MAT - close: 43.24 change: +0.66

Stop Loss: 41.40
Target(s): 44.50
Current Gain/Loss: + 4.6%

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:
03/23/13: MAT displayed relative strength again on Friday with a +1.5% gain and another new multi-year high. The $45-46 zone is the all-time high and likely resistance. I am adjusting our exit target down to $44.50. I am also raising our stop loss to $41.40. I am not suggesting new positions at this time.

Earlier Comments:
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

03/23/13 new stop loss at $41.40, adjust exit target to $44.50
03/21/13 new stop loss at $40.95
03/20/13 new stop loss at $40.75

chart:



Tesla Motors - TSLA - close: 36.62 change: +0.61

Stop Loss: 34.90
Target(s): 39.25
Current Gain/Loss: + 1.2%

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:
03/23/13: TSLA was in a bullish mood on Friday. The stock gapped open higher and rallied to a +1.69% gain. Shares are still flirting with their 50-dma but the stock has been showing relative strength the last few sessions.

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

chart:



BEARISH Play Updates

Brunswick Corp - BC - close: 34.33 change: +0.29

Stop Loss: 35.30
Target(s): 30.30
Current Gain/Loss: - 1.3%

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:
03/23/13: BC managed a +0.8% gain on Friday. That was slightly better than the S&P 500's performance. Yet shares of BC still look poised for further declines with a short-term trend of lower highs and lower lows. Readers may want to look for a new failed rally at the 20-dma or a new relative low before launching new positions.

Suggested Position: short BC stock @ $33.78

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

chart:



Garmin Ltd. - GRMN - close: 33.25 change: +0.10

Stop Loss: 35.05
Target(s): 30.25
Current Gain/Loss: +2.0%

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:
03/23/13: GRMN managed a minor oversold bounce on Friday with a +0.3% gain. Shares do look short-term oversold here. Readers may want to wait for a new failed rally, maybe near $34.00, before considering new bearish positions. I am adjusting our stop loss down to $34.60.

It is worth noting that our April $33 put has almost doubled in value. Traders may want to take profits early right now.

current Position: short GRMN stock @ $33.93

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

Long Apr $33 PUT (GRMN1320P33) entry $0.39

03/23/13 new stop loss @ 34.60
Our April $33 put has almost doubled in value. Readers may want to take profits early right now.

chart:



Teck Resources - TCK - close: 28.12 change: +0.03

Stop Loss: 29.25
Target(s): 26.25
Current Gain/Loss: +3.0%

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:
03/23/13: Friday proved to be a quiet session for shares of TCK. The stock closed virtually unchanged on the day. I am not suggesting new positions at this time. If TCK does manage a bounce, look for short-term resistance near $29.00 and its 10-dma.

current Position: short TCK stock @ $29.00

03/19/13 new stop loss @ 29.25

chart:



CLOSED BULLISH PLAYS

MeadWestvaco Corp. - MWV - close: 36.67 change: -0.10

Stop Loss: 36.65
Target(s): 39.25
Current Gain/Loss: + 0.5%

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:
03/23/13: After the sharp bearish reversal on Thursday we decided the best move was to exit our MWV trade on Friday morning at the open. Shares opened at $36.83.

Our option exit price is an estimate. The option didn't trade on Friday. Fortunately the spreads have narrowed significantly to just 20 cents, which is much more normal. Based on where the option prices closed and where MWV opened, we've estimated an exit price.

closed Position: long MWV stock @ $36.65 exit $36.83 (+0.5%)

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

Apr $35 call (MWV1320D35) entry $2.20 exit $2.00*(-9.0%)

03/22/13 planned exit this morning
*option exit price is an estimate since the option did not trade at the time our play was closed.
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

chart:



Xerox Corp. - XRX - close: 8.60 change: +0.05

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: see below

Comments:
03/23/13: XRX appears to be stuck inside the $8.50-8.80 trading range. Our trade has not opened yet with the entry trigger at $8.90. We're removing XRX as a candidate. We'll check it out again if XRX can close over $8.80.

Trade did not open.

03/23/13 removed from the newsletter

chart: