Editor's Note:
The U.S. market rally this week accelerated on Wednesday. Even the small caps joined in today.

We saw our STRZA trade open. I am removing AKAM. We want to exit WTI at the open tomorrow.


Current Portfolio:


BULLISH Play Updates

iShares Japan Index - EWJ - close: 11.21 change: +0.23

Stop Loss: 10.47
Target(s): 11.40
Current Gain/Loss: + 7.4%

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:
04/10/13: Stocks in Japan continue to rally with the yen slipping to another multi-year low. Shares of EWJ displayed relative strength with a +2.0% gain and another new 52-week high. Our target is $11.40. I am raising our stop loss to $10.58.

Current Position: Long the EWJ @ $10.44

04/10/13 new stop loss @ 10.58
04/08/13 new stop loss @ 10.47
04/04/13 new stop loss @ 10.35
03/30/13 new stop loss @ 10.28
03/20/13 new stop loss @ 10.18



Gulfport Energy - GPOR - close: 48.27 change: +0.06

Stop Loss: 44.70
Target(s): 52.50
Current Gain/Loss: + 1.9%

Entry on April 08 at $47.35
Listed on April 06, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 1.4 million
New Positions: see below

Comments:
04/10/13: GPOR delivered a disappointing session with the stock essentially closing unchanged after a volatile open. The overall trend remains up but after today's lack of movement I am not suggesting new positions.

Our target is $52.50, but investors should note that the $50.00 level might be overhead, round-number resistance. FYI: The Point & Figure chart for GPOR is bullish with a long-term $70.00 target.

current Position: Long GPOR stock @ $47.35



Plum Creek Timber Co. - PCL - close: 51.80 change: +0.32

Stop Loss: 49.90
Target(s): 54.50
Current Gain/Loss: +2.5%

Entry on March 25 at $50.56
Listed on March 23, 2013
Time Frame: Exit prior to earnings on April 29th
Average Daily Volume = 732 thousand
New Positions: see below

Comments:
04/10/13: PCL recovered most of yesterday's decline. Yet the stock seemed to struggle with yesterday's highs. I am not suggesting new positions at this time. The April 5th low was $50.72. I am raising our stop to $50.60.

*Small Positions*

Current Position: Long PCL stock @ $50.56

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

Long May $50 call (PCL1318E50) entry $1.40*

04/10/13 new stop loss @ 50.60
03/30/13 new stop loss @ 49.90
*option entry price is an estimate since the option did not trade at the time our play was opened.



Starz - STRZA - close: 21.77 change: +0.45

Stop Loss: 19.95
Target(s): 24.50
Current Gain/Loss: +0.1%

Entry on April 10 at $21.75
Listed on April 06, 2013
Time Frame: exit PRIOR to earnings on May 9th
Average Daily Volume = 1.6 million
New Positions: see below

Comments:
04/10/13: STRZA displayed relative strength with a +2.1% gain today. Unfortunately most of that move was on the stock's gap open higher at $21.75. The gap higher was sparked by an analyst upgrade this morning. Since we had a trigger to launch small bullish positions at $21.55 the gap higher triggered our trade.

*Small Positions*

current Position: Long STRZA stock @ $21.75

04/10/13 trade opened on gap higher at $21.75
04/09/13 adjust entry trigger from $21.50 to $21.55



The TJX Companies - TJX - close: 47.51 change: -0.15

Stop Loss: 46.45
Target(s): 52.00
Current Gain/Loss: - 0.5%

Entry on April 09 at $47.75
Listed on April 08, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 4.7 million
New Positions: see below

Comments:
04/10/13: It was not the most inspiring performance for TJX today. The stock failed to participate in the market's rally and instead lost -0.3%. It could be that investors are cautious regarding the company's same-store sales numbers, expected out tomorrow morning. Readers may want to wait for a new relative high before launching new positions.

Earlier Comments:
If triggered our target is $52.00. However, there is a risk that the $50.00 mark could be round-number resistance.

Suggested Position: Long TJX stock @ $47.75



BEARISH Play Updates

Brunswick Corp - BC - close: 32.91 change: +0.34

Stop Loss: 34.25
Target(s): 30.30
Current Gain/Loss: + 2.9%

Entry on March 18 at $33.78
Listed on March 12, 2013
Time Frame: Exit PRIOR to earnings on April 25th
Average Daily Volume = 786 thousand
New Positions: see below

Comments:
04/10/13: BC managed a bounce thanks to the market's rally but shares are still trading below short-term resistance near $33.00. There should be additional resistance near $33.50 and $34.00. I am not suggesting new positions at this time.

Suggested Position: short BC stock @ $33.78

04/03/13 new stop loss @ 34.25
04/01/13 new stop loss @ 34.75
03/18/13 triggered on gap down at $33.78. Trigger was $33.90



BroadSoft, Inc. - BSFT - close: 24.87 change: +0.03

Stop Loss: 25.25
Target(s): 20.75
Current Gain/Loss: unopened

Entry on April -- at $--.--
Listed on April 09, 2013
Time Frame: exit PRIOR to earnings in early May
Average Daily Volume = 854 thousand
New Positions: Yes, see below

Comments:
04/10/13: Shares of BSFT barely even budged in spite of the stock market's widespread rally on Wednesday. The lack of participation in the market rally is bearish. There is no change from my prior comments.

I am suggesting a trigger to launch small bearish positions at $24.50. If triggered our target is $20.75. The 2013 low was $20.45.

Please note that we do want to limit our position size to reduce our risk. The most recent data listed short interest at 21% of the small 27.6 million-share float. Thus if BSFT were to suddenly turn higher it could spark a short squeeze. Furthermore there has been some speculation that BSFT is a takeover target. You may want to consider buying a put option instead of shorting the stock as a way to limit your risk.

Trigger @ 24.50 *Small Positions*

Suggested Position: short BSFT stock @ (trigger)

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

buy the May $25 put (BSFT1318Q25)



Cabot Microelectronics - CCMP - close: 33.35 change: +0.40

Stop Loss: 34.05
Target(s): 30.25
Current Gain/Loss: -2.0%

Entry on April 03 at $32.69
Listed on April 02, 2013
Time Frame: exit PRIOR to earnings on April 25th
Average Daily Volume = 104 thousand
New Positions: see below

Comments:
04/10/13: The semiconductor sector was a strong performer today and shares of CCMP were lifted by the rising tide. I am not suggesting new positions at this time.

Earlier Comments:
We want to keep our position size small. We want to limit our risk because CCMP is arguably already short-term oversold. Of course it can get a lot more oversold. We are using somewhat of a wide stop loss at $34.05. Our target is $30.25.

*Small Positions*

current Position: short CCMP stock @ $32.69



W&T Offshore Inc. - WTI - close: 13.80 change: +0.34

Stop Loss: 14.25
Target(s): 12.15
Current Gain/Loss: + 0.4%

Entry on April 01 at $13.85
Listed on March 30, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 696 thousand
New Positions: see below

Comments:
04/10/13: WTI delivered yet another strong bounce today (+2.5%). The close above its simple 10-dma is short-term bullish. We are turning more defensive here and tonight we're suggesting an early exit at the opening bell. I'd rather exit now that see this trade turn into a loss. Although honestly there is probably a better than 50/50 chance that WTI's bounce will roll over in the $14.00 area, likely near its simple 20-dma. More aggressive traders may want to ride it out.

current Position: short WTI stock @ $13.85

04/10/13 prepare to exit at the opening bell tomorrow
04/06/13 readers may want to exit now to lock in gains. WTI looks poised for an oversold bounce
04/03/13 new stop loss @ 14.25



CLOSED BEARISH PLAYS

Akamai Technologies - AKAM - close: 36.04 change: +1.37

Stop Loss: 35.05
Target(s): 30.15
Current Gain/Loss: unopened

Entry on April -- at $--.--
Listed on April 04, 2013
Time Frame: Exit prior to earnings on April 24th
Average Daily Volume = 3.9 million
New Positions: see below

Comments:
04/10/13: The stock market's surge on Wednesday helped fuel some short covering in AKAM. The stock outperformed with a +3.9% gain. Our trade has not opened yet. Given AKAM's rebound we are dropping it as a bearish candidate.

Trade did not open.

04/10/13 removed from the newsletter

chart: