Editor's Note:
Momentum continues to favor the bulls as traders buy the dips. The S&P 500 and the Dow Industrials are hitting new highs.

Our GPOR trade was stopped out. We have removed AVD.


Current Portfolio:


BULLISH Play Updates

Plum Creek Timber Co. - PCL - close: 51.99 change: +0.11

Stop Loss: 50.85
Target(s): 54.50
Current Gain/Loss: +2.8%

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:
04/13/13: PCL is still quietly churning sideways. Shares did show some relative strength on Friday with a +0.2% gain versus the S&P 500's -0.28% decline. Yet I am worried about PCL. The major indices are breaking out to new highs but PCL is still stuck in this sideways formation. I am not suggesting new positions at this time. More conservative traders may want to raise their stop loss into the $51.20-51.30 area.

NOTE: The plan was to exit our May $50 call at the opening bell on Friday.

*Small Positions*

Current Position: Long PCL stock @ $50.56

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

(exited call position on Friday, April 12th)
May $50 call (PCL1318E50) entry $1.40* exit $2.15* (+53.5%)

04/12/13 closed May $50 call position at the opening bell
*option exit price is an estimate since the option did not trade at the time our play was closed.
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.

chart:



Starz - STRZA - close: 22.05 change: +0.25

Stop Loss: 20.65
Target(s): 24.50
Current Gain/Loss: +1.4%

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:
04/13/13: Traders quickly bought the dip on Friday morning and STRZA rallied to a +1.1% gain. The stock is quickly approaching what could be short-term resistance near its recent highs near the $22.30 mark.

Please note our new stop loss at $20.65.

*Small Positions*

current Position: Long STRZA stock @ $21.75

04/13/13 new stop loss @ 20.65
04/10/13 trade opened on gap higher at $21.75
04/09/13 adjust entry trigger from $21.50 to $21.55

chart:



The TJX Companies - TJX - close: 48.58 change: -0.16

Stop Loss: 46.45
Target(s): 52.00
Current Gain/Loss: + 1.7%

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:
04/13/13: Hmm... Friday proved to be a very quiet day for shares of TJX. The stock drifted sideways in a narrow range. I would not be surprised to see TJX dip towards the $48.00-47.50 zone. Readers may want to wait for that pullback 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

chart:



BEARISH Play Updates

Brunswick Corp - BC - close: 32.50 change: -0.41

Stop Loss: 33.85
Target(s): 30.30
Current Gain/Loss: + 4.1%

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:
04/13/13: It looks like the oversold bounce in BC is finally rolling over. Yet BC still has technical support at its rising 100-dma, which has risen to $31.83. I am not suggesting new positions. I am adjusting our stop loss down to $33.85. I am not suggesting new positions at this time.

Suggested Position: short BC stock @ $33.78

04/13/13 new stop loss @ 33.85
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

chart:



BroadSoft, Inc. - BSFT - close: 24.47 change: -0.10

Stop Loss: 25.25
Target(s): 20.75
Current Gain/Loss: - 0.1%

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:
04/13/13: BSFT tried to rally on Friday morning but the advance failed near round-number resistance at the $25.00 mark. The stock is still poised for further losses. I would consider new bearish positions at current levels.

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

chart:



Cabot Microelectronics - CCMP - close: 33.14 change: +0.25

Stop Loss: 34.05
Target(s): 30.25
Current Gain/Loss: -1.4%

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:
04/13/13: CCMP was not cooperating on Friday. Shares managed a +0.7% gain. Compare that to the -0.4% decline in the semiconductor index (SOX) and the -0.1% drop in the NASDAQ composite. CCMP still has a bearish trend of lower highs but I am not suggesting new positions at this time.

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

*Small Positions*

current Position: short CCMP stock @ $32.69

chart:



CLOSED BULLISH PLAYS

Gulfport Energy - GPOR - close: 47.00 change: -1.43

Stop Loss: 45.75
Target(s): 52.50
Current Gain/Loss: - 3.4%

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:
04/13/13: Energy stocks were some of the worst performers on Friday thanks to the plunge in crude oil prices. GPOR spiked down toward support near $46.00 but it dipped just low enough to hit our stop loss at $45.75 before bouncing.

closed Position: Long GPOR stock @ $47.35 exit $45.75 (-3.4%)

04/12/13 stopped out
04/11/13 new stop loss @ 45.75

chart:



CLOSED BEARISH PLAYS

American Vanguard - AVD - close: 30.21 change: +2.04

Stop Loss: 29.15
Target(s): 25.15
Current Gain/Loss: unopened

Entry on April -- at $--.--
Listed on April 11, 2013
Time Frame: exit PRIOR to earnings in early May.
Average Daily Volume = 227 thousand
New Positions: , see below

Comments:
04/13/13: AVD doesn't have that much short interest but Friday's move looks like a short squeeze nonetheless. Positive analyst comments on Friday morning helped spark the gap open higher and shares of AVD rallied to a +7.2% gain. We were waiting for a breakdown below support near $28.00 and its 300-dma to launch bearish positions. It is unlikely that such a breakdown will occur any time soon so we are removing AVD from the newsletter.

Trade did not open.

04/13/13 removed from the newsletter

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