Editor's Note:
The iShares Japan ETF (EWJ) has continued to rally and shares hit our bullish target today.

BSFT was triggered. CLGX was stopped out. WTI was closed.


Current Portfolio:


BULLISH Play Updates

Gulfport Energy - GPOR - close: 48.43 change: +0.16

Stop Loss: 45.75
Target(s): 52.50
Current Gain/Loss: + 2.3%

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:
04/11/13: I am growing concerned with our GPOR trade. The U.S. market's major indices continue to rise. GPOR eked out a minor gain yet today's move looks more like a failed rally at round-number resistance near $50.00.

More conservative traders may want to abandon ship. I am not suggesting new positions. We will raise the stop loss to $45.75. More aggressive traders may want to keep their stop loss below the 20-dma.

Earlier Comments:
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

04/11/13 new stop loss @ 45.75



Plum Creek Timber Co. - PCL - close: 51.88 change: +0.08

Stop Loss: 50.85
Target(s): 54.50
Current Gain/Loss: +2.6%

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:
04/11/13: The trading in PCL is a bit disappointing as well. The stock was barely in positive territory at the closing bell. Shares seem to be struggling with their early April highs. I am turning more defensive here. We will raise our stop loss to $50.85, which is just below the 20-dma.

Our May $50 call closed with a bid/ask of $2.24/2.31. I am suggesting we go ahead and close our call position at the opening bell tomorrow.

*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*

04/11/13 new stop loss @ 50.85
Prepare to exit our May $50 calls at the opening bell tomorrow
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: 21.80 change: +0.03

Stop Loss: 19.95
Target(s): 24.50
Current Gain/Loss: +0.2%

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:
04/11/13: Thursday proved to be a quiet session for shares of STRZA. The stock just drifted sideways under the $22.00 level. Nimble traders may want to look for a dip near $21.50 before initiating new positions.

*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: 48.74 change: +1.23

Stop Loss: 46.45
Target(s): 52.00
Current Gain/Loss: + 2.1%

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:
04/11/13: It was a volatile morning for shares of TJX. Officially the low of the day was only $47.37. Yet if you look at an intraday chart it seems like TJX gapped open lower near $46.50 before quickly surging higher again. If poke around you'll see that $46.50 was the pre-market low. The volatility was a reaction to TJX's same-store March sales. Analysts polled by Reuters were expecting -1% growth. TJX announced same-store sales fell -2% in March. Management blamed the slowdown on the timing of Easter and an unusually cold month for much of the country.

The stock rallied quickly off its morning lows and broke out to new highs.

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: +0.00

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:
04/11/13: BC spent the day consolidating sideways to close unchanged. The stock's failure to participate in the market's rally is bearish. 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: 24.57 change: -0.30

Stop Loss: 25.25
Target(s): 20.75
Current Gain/Loss: - 0.3%

Entry on April 11 at $24.50
Listed on April 09, 2013
Time Frame: exit PRIOR to earnings in early May
Average Daily Volume = 854 thousand
New Positions: see below

Comments:
04/11/13: Our new play on BSFT has been triggered. Shares have continued to under perform and the stock lost -1.2% today. Shares broke down to new multi-week lows. Our trigger to open bearish positions was hit at $24.50.

Earlier Comments:
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.

*Small Positions*

current Position: short BSFT stock @ $24.50

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

Long May $25 put (BSFT1318Q25) entry $2.60



Cabot Microelectronics - CCMP - close: 32.89 change: -0.46

Stop Loss: 34.05
Target(s): 30.25
Current Gain/Loss: -0.6%

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:
04/11/13: The semiconductor sector was downgraded this morning. This weighed on the sector all day and the SOX closed negative. Shares of CCMP saw their early morning rally attempt fail near the 20-dma. Shares reversed to close down -1.37%. Today's low was $32.74. Readers could use a drop below today's low as a new bearish entry point.

Earlier Comments:
We want to keep our position size small.

*Small Positions*

current Position: short CCMP stock @ $32.69



CLOSED BULLISH PLAYS

iShares Japan Index - EWJ - close: 11.34 change: +0.13

Stop Loss: 10.47
Target(s): 11.40
Current Gain/Loss: + 9.2%

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:
04/11/13: Target achieved.

Record-setting monetary easing in Japan has helped fuel the rally in Japanese stocks and the EWJ. Another up day back home in Japan helped the EWJ cap open higher. Shares hit a new 52-week high of $11.44 intraday. Our exit target was hit at $11.40.

closed Position: Long the EWJ @ $10.44 exit $11.40 (+9.2%)

04/11/13 target hit
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

chart:



CLOSED BEARISH PLAYS

CoreLogic, Inc. - CLGX - close: 25.68 change: +1.52

Stop Loss: 25.25
Target(s): 22.15
Current Gain/Loss: - 4.8%

Entry on April 11 at $24.09
Listed on April 10, 2013
Time Frame: 2 to 4 weeks
Average Daily Volume = 861 thousand
New Positions: see below

Comments:
04/11/13: Sometimes the market does not want to cooperate. CLGX has been trending lower and underperforming the market for weeks. Yesterday saw a bearish breakdown below support to new relative lows. The stock opened weak this morning but managed a bounce back toward the unchanged level. Then around 11:15 a.m. today something happened and CLGX just exploded higher. Unfortunately I cannot find any news to explain the sudden surge in this stock. In less than two and a half hours the stock went from $24.20 to 26.40 (a +9% move). The rally failed near technical resistance (several moving averages). CLGX ended the session with a +6.29% gain. Our trade opened this morning at $24.09 and CLGX hit our stop loss at $25.25.

closed Position: short CLGX stock @ $24.09, exit $25.25 (-4.8%)

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

July $22.50 PUT (CLGX1320s22.5) entry $1.10* exit $0.65* (-40.9%)

04/11/13 trade opened at $24.09, stopped out at $25.25
*option entry and exit price is an estimate since the option did not trade at the time our play opened or closed.

Annotated chart:



W&T Offshore Inc. - WTI - close: 13.73 change: -0.07

Stop Loss: 14.25
Target(s): 12.15
Current Gain/Loss: + 0.6%

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:
04/11/13: The oversold bounce in WTI continued for a fifth day in a row. Shares pierced potential resistance at $14.00 but reversed to eventually close in negative territory. Our plan was to exit positions at the opening bell.

closed Position: short WTI stock @ $13.85 exit $13.77 (+0.6%)

04/11/13 scheduled exit at the open
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

chart: