Editor's Note:
We closed our 1-800-Flowers.com (FLWS) trade at new multi-year highs on Friday.

Our VRTU trade was triggered on Friday.


Current Portfolio:


BULLISH Play Updates

Big Lots Inc. - BIG - close: 36.90 change: -0.38

Stop Loss: 34.75
Target(s): 41.50
Current Gain/Loss: +0.3%

Entry on April 23 at $36.80
Listed on April 20, 2013
Time Frame: 3 to 6 weeks
Average Daily Volume = 650 thousand
New Positions: see below

Comments:
04/27/13: BIG is not really cooperating with us. Thursday's intraday pullback from its highs and now Friday's new bearish engulfing candlestick reversal pattern are not very inspiring. At the very least I am expecting a pullback toward its simple 10-dma (near 36.30) and likely a dip toward $36.00. Wait for the bounce before considering new positions.

Earlier Comments:
If BIG does break out higher it could see a short squeeze. The most recent data listed short interest at 17% of the 52.7 million share float. The Point & Figure chart for BIG is bullish with a long-term $53.00 target.

current Position: Long BIG stock @ $36.80

chart:



Dish Network - DISH - close: 39.99 change: -0.23

Stop Loss: 39.15
Target(s): 44.50
Current Gain/Loss: unopened

Entry on April -- at $--.--
Listed on April 25, 2013
Time Frame: exit prior to earnings on May 9th
Average Daily Volume = 4.0 million
New Positions: Yes, see below

Comments:
04/27/13: Someone continues to sell DISH at the $40.25 mark. Friday's session was quiet with the stock drifting sideways. Meanwhile the telecom soap opera gains another character with Aurelius Capital, a large stock holder in Clearwire (CLWR), suing both Sprint and CLWR over the proposed acquisition. For more details on the telecom drama please see Thursday's new play description here.

The time frame for our DISH trade has changed. The company announced they will report earnings on May 9th. We do not want to hold over the announcement. I am changing the option strike to the May $40 calls.

Earlier Comments:
The April 23rd high was $40.34. I am suggesting a trigger to launch small bullish positions at $40.50. If triggered our target is $44.50.

Remember, small positions! Shares of DISH might be volatile with the Sprint/Clearwire/SoftBank drama going on.

Trigger @ $40.50 *Small Positions*

Suggested Position: buy DISH stock @ (trigger)

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

buy the May $40 call (DISH1318E40) current ask $1.55

04/27/13 changed the option strike to the May $40 calls
adjusted time frame, we do not want to hold over earnings on May 9th

chart:



The Kroger Co. - KR - close: 34.28 change: -0.05

Stop Loss: 32.90
Target(s): 36.50
Current Gain/Loss: +1.3%

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:
04/27/13: KR delivered a quiet session on Friday with the stock churning sideways in a 50-cent range. The stock's performance on Wednesday, with the big pullback from its intraday high, might be interpreted as a top. Thursday's volatility was a reaction to disappointing earnings from rival Safeway (SWY). I'm not suggesting new positions at this time.

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

04/25/13 new stop loss @ 32.90

chart:



Starz - STRZA - close: 23.29 change: +0.00

Stop Loss: 21.75
Target(s): 24.00
Current Gain/Loss: +7.1%

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:
04/27/13: STRZA was a bright spot in the market with a +6.0% gain for the week. Readers may want to consider taking profits early right now. I am adjusting our exit target down to $24.00 from $24.50. I am also raising our stop loss to $21.75.

*Small Positions*

current Position: Long STRZA stock @ $21.75

04/27/13 new stop loss @ 21.75, adjust exit target to $24.00
04/24/13 new stop loss @ 21.49
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: 48.40 change: +0.11

Stop Loss: 46.45
Target(s): 52.00
Current Gain/Loss: + 1.4%

Entry on April 09 at $47.75
Listed on April 08, 2013
Time Frame: exit PRIOR to earnings on May 21
Average Daily Volume = 4.7 million
New Positions: see below

Comments:
04/27/13: Shares of TJX have almost recovered from their mid-April swoon. The rebound this past week is pushing shares toward their all-time highs set just two weeks ago. We are cautiously optimistic here but I'm not suggesting new positions.

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

BroadSoft, Inc. - BSFT - close: 24.43 change: -0.49

Stop Loss: 25.15
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 on May 6th
Average Daily Volume = 854 thousand
New Positions: see below

Comments:
04/27/13: There was no follow through on Thursday's bullish reversal in BSFT. The rally couldn't get past round-number resistance at the $25.00 mark. Shares underperformed the market on Friday with a -1.9% decline. Due to the recent volatility more conservative traders may want to exit now and avoid or minimize any losses. 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) -

(closed option position on April 22nd)
May $25 put (BSFT1318Q25) entry $2.60 exit $2.20 (-15.3%)

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

chart:



Check Point Software - CHKP - close: 45.10 change: -0.07

Stop Loss: 45.51
Target(s): 40.50
Current Gain/Loss: unopened

Entry on April -- at $--.--
Listed on April 24, 2013
Time Frame: 3 to 6 weeks
Average Daily Volume = 2.5 million
New Positions: Yes, see below

Comments:
04/27/13: CHKP spent Friday's session drifting sideways. I don't see any changes from my earlier comments. We're waiting for a breakdown to new relative lows.

I am suggesting a trigger to launch bearish positions at $44.30 If triggered our target is $40.50.

Trigger @ 44.30

Suggested Position: short CHKP stock @ (trigger)

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

buy the June $45 PUT (CHKP1322R45)

chart:



Computer Sciences Corp. - CSC - close: 45.60 change: -0.07

Stop Loss: 46.25
Target(s): 42.00
Current Gain/Loss: + 0.9%

Entry on April 15 at 46.00
Listed on April 13, 2013
Time Frame: exit PRIOR to earnings on May 15
Average Daily Volume = 1.5 million
New Positions: see below

Comments:
04/27/13: So far so good. After a three-week decline CSC managed an oversold bounce. It looks like that bounce is going to fail near $46.00. We are still aiming for the $42.00 mark but we will plan on exiting prior to CSC's earnings report on May 15th.

current Position: short CSC stock @ $46.00

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

Long May $45 PUT (CSC1318Q45) entry $1.95

04/24/13 new stop loss @ 46.25
04/20/13 new stop loss @ 47.25

chart:



Virtusa Corp. - VRTU - close: 21.88 change: -0.26

Stop Loss: 22.65
Target(s): 20.10
Current Gain/Loss: -0.4%

Entry on April 26 at $21.80
Listed on April 22, 2013
Time Frame: exit PRIOR to earnings on May 8th
Average Daily Volume = 116 thousand
New Positions: see below

Comments:
04/27/13: Our new trade on VRTU has opened. Shares have been underperforming the market all week long. The stock broke down under short-term support near $22.00 on Friday and hit our entry trigger at $21.80.

I would still consider new positions now at current levels. However, traders need to be aware that our time frame has changed a bit. VRTU is now scheduled to report earnings on May 8th and we do not want to hold over the report.

Earlier Comments:
I would keep our position size small to limit our risk.

*Small Positions*

current Position: short VRTU stock @ $21.80

chart:



CLOSED BULLISH PLAYS

1-800-Flowers.com - FLWS - close: 5.84 change: +0.18

Stop Loss: 5.25
Target(s): 5.95
Current Gain/Loss: + 7.9%

Entry on April 22 at $ 5.42
Listed on April 20, 2013
Time Frame: exit PRIOR to earnings on April 30th
Average Daily Volume = 139 thousand
New Positions: see below

Comments:
04/27/13: The pre-earnings rally in FLWS continued on Friday with a +3.1% gain and another multi-year high. Our plan was to exit positions at the closing bell on Friday if shares did not hit our exit target at $5.95 first. The intraday high was only $5.88.

Earlier Comments:
FLWS can be somewhat volatile so I do consider a more aggressive, higher-risk trade. We will want to keep our position size small. Our target is $5.95.

*Small Positions*

closed Position: Long FLWS stock @ $5.42 exit $5.84 (+7.9%)

04/26/13 planned exit at the close
04/25/13 new stop loss @ 5.25
Prepare to exit positions tomorrow (Friday) at the closing bell if FLWS does not hit our exit target at $5.95 first.

chart: