Editor's Note:
The S&P 500 pared its weekly loss with a widespread bounce on Friday. It was still the worst week of the year.

Our KR trade was triggered.
I am suggesting we exit our BSFT option positions immediately.


Current Portfolio:


BULLISH Play Updates

The Kroger Co. - KR - close: 33.71 change: -0.05

Stop Loss: 32.40
Target(s): 36.50
Current Gain/Loss: -0.4%

Entry on April 19 at $33.85
Listed on April 18, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 4.2 million
New Positions: see below

Comments:
04/20/13: KR hit a new 52-week high on Friday morning but shares pared their gains by the closing bell. The stock actually gapped open higher at $33.85 instantly triggering our new play. Investors appeared to be buying the dip near $33.50 on Friday afternoon. I would still consider new bullish positions at current levels.

Earlier Comments:
Shares of KR are now hitting new 13-year highs. We should take note of its old highs. The closing high was $34.16 and the intraday high was $34.91 from March 1999. These levels could be potential overhead resistance. Yet it was so long ago they may not matter anymore. If you're worried about KR seeing resistance at these levels then you may want to wait for KR to close above these levels before initiating positions.

FYI: KR should begin trading ex-dividend on May 13th, 2013. The quarterly dividend should be 15 cents.

current Position: buy KR stock @ $33.85

chart:



Starz - STRZA - close: 21.96 change: +0.04

Stop Loss: 20.85
Target(s): 24.50
Current Gain/Loss: +1.0%

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:
04/20/13: STRZA has spent over a week now churning sideways. Most of this time has been spent inside the $21.70-22.10 zone. Traders could use a rally past $22.10 or a rally past its recent highs near $22.30 as a new bullish entry point.

The simple 30-dma has risen to $21.26 and more conservative traders may want to adjust their stops closer to this moving average.

*Small Positions*

current Position: Long STRZA stock @ $21.75

04/17/13 new stop loss @ 20.85
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: 47.00 change: +0.30

Stop Loss: 46.45
Target(s): 52.00
Current Gain/Loss: - 1.6%

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:
04/20/13: Shares of TJX recovered about half of Thursday's decline thanks to a market-wide bounce on Friday. I remain cautious here and we're not suggesting new bullish positions at this time. If the market fails to see any follow through on Friday's bounce I would expect TJX to reverse and hit our stop.

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

current Position: Long TJX stock @ $47.75

04/18/13 today's decline is bad news. TJX looks ready to hit our stop at $46.45 soon.

chart:



BEARISH Play Updates

The ADT Corp. - ADT - close: 43.84 change: +0.18

Stop Loss: 44.65
Target(s): 38.00
Current Gain/Loss: unopened

Entry on April -- at $--.--
Listed on April 16, 2013
Time Frame: exit PRIOR to earnings on May 1st
Average Daily Volume = 3.7 million
New Positions: Yes, see below

Comments:
04/20/13: ADT managed a bounce off its exponential 200-dma on Friday morning but there wasn't much follow through on the bounce. Shares have been stuck under short-term resistance near $44.00 these last few days. Currently we are waiting for a breakdown to new relative lows.

I am suggesting a trigger to open bearish positions at $42.50. If triggered our target is $38.00. More conservative traders may want to exit near $40.00 instead. The Point & Figure chart for ADT is bearish with a $35 target.

Keep in mind that we plan to exit prior to earnings on May 1st.

FYI: ADT is scheduled to begin trading ex-dividend on April 22nd. The dividend should be 12.5 cents.

Trigger @ $42.50

Suggested Position: short ADT stock @ (trigger)

chart:



BroadSoft, Inc. - BSFT - close: 24.56 change: +0.46

Stop Loss: 25.15
Target(s): 20.75
Current Gain/Loss: - 0.2%

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:
04/20/13: This past week I have expressed concern about the lack of downward momentum in our BSFT trade. Friday's +1.9% bounce definitely raises my concern. Shares outperformed the market and closed right at technical resistance on the simple 10-dma. If there is any follow through higher we could see BSFT testing the $25.00 level. I am adjusting our stop loss down to $25.15. Plus, I am suggesting we exit our put positions immediately. The May $25 put currently has a bid/ask spread of $2.25/2.40. I am not suggesting new positions.

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

04/20/13 new stop loss @ 25.15,
prepare to exit the May $25 puts immediate on Monday (04/22)

chart:



Casey's General Stores - CASY - close: 54.43 change: +0.43

Stop Loss: 55.15
Target(s): 50.00
Current Gain/Loss: -2.4%

Entry on April 17 at $53.15
Listed on April 16, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 249 thousand
New Positions: see below

Comments:
04/20/13: CASY's oversold bounce continued for a second day in a row. Shares are now testing their exponential 200-dma as potential resistance. If this level fails the next spot for resistance should be $55.00 and its simple 200-dma. I would wait for a failed rally near $55.00 before initiating new bearish positions.

Earlier Comments:
Our short-term target is $50.00 but readers may want to aim lower. The Point & Figure chart for CASY is bearish with a $48.00 target.

FYI: CASY is due to trade ex-dividend on April 29th. The quarterly dividend should be about 16.5 cents.

current Position: short CASY stock @ $53.15

04/17/13 trade opened on gap down at $53.15. trigger was $53.50

chart:



Cabot Microelectronics - CCMP - close: 32.54 change: +0.29

Stop Loss: 33.40
Target(s): 30.25
Current Gain/Loss: +0.5%

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:
04/20/13: Semiconductor stocks bounced on Friday and CCMP outpaced its peers for the second day in a row. Yet the larger trend for this stock is down with a bearish pattern of lower highs and lower lows. We are running out of time. CCMP is due to report earnings on April 25th and we do not want to hold over the announcement. 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

04/18/13 new stop loss @ 33.40

chart:



Computer Sciences Corp. - CSC - close: 44.23 change: -0.23

Stop Loss: 47.25
Target(s): 42.00
Current Gain/Loss: + 3.8%

Entry on April 15 at 46.00
Listed on April 13, 2013
Time Frame: 4 to 6 weeks
Average Daily Volume = 1.5 million
New Positions: see below

Comments:
04/20/13: On Thursday CSC closed on potential technical support at its 100-dma. Given the market's bounce on Friday I expected CSC to rebound. The fact that shares underperformed the market is bearish. Yet the stock does look short-term oversold and due for a bounce. I am not suggesting new positions. Please note our new stop loss at $47.25.

current Position: short CSC stock @ $46.00

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

Long May $45 PUT (CSC1318Q45) entry $1.95

04/20/13 new stop loss @ 47.25

chart:



Electronic Arts - EA - close: 17.09 change: +0.15

Stop Loss: 17.55
Target(s): 15.00
Current Gain/Loss: -2.0%

Entry on April 18 at $16.75
Listed on April 17, 2013
Time Frame: exit PRIOR to earnings on May 7th
Average Daily Volume = 4.0 million
New Positions: see below

Comments:
04/20/13: EA started Friday on a weak note and hit new multi-week lows before bouncing. Lack of follow through on the breakdown can be frustrating. Friday's intraday low was $16.65 and readers may want to wait for a drop to $16.60 before initiating new bearish positions.

Earlier Comments:
If triggered our target is $15.00 although we might adjust it and aim to exit near the simple 150-dma instead.

current Position: short EA stock @ $16.75

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

Long May $17 PUT (EA1318Q17) entry $1.00

chart: