Editor's Note:
The large cap indices are testing their April highs. Will the rally continue or will it fail at resistance?

DISH and MO were triggered.

CSC was stopped out.


Current Portfolio:


BULLISH Play Updates

Big Lots Inc. - BIG - close: 36.53 change: -0.37

Stop Loss: 34.75
Target(s): 41.50
Current Gain/Loss: -0.7%

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:
04/29/13: Over the weekend I was cautious on BIG. Today's pullback confirms the bearish reversal candlestick from Friday. Traders did buy the dip near the 10-dma but the reversal may not be over yet.

I am not suggesting new positions at this time.

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



Dish Network - DISH - close: 40.56 change: +0.57

Stop Loss: 39.15
Target(s): 44.50
Current Gain/Loss: + 0.1%

Entry on April 29 at $40.50
Listed on April 25, 2013
Time Frame: exit prior to earnings on May 9th
Average Daily Volume = 4.0 million
New Positions: see below

Comments:
04/29/13: Our DISH trade has been triggered. Shares spent much of the day churning sideways under resistance near $40.25. Then late this afternoon DISH broke out higher potentially on news that the company had received a non-disclosure agreement from Sprint. That means the two companies are talking about the potential acquisition/merger.

I would still consider bullish positions at current levels.

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.

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

*Small Positions*

current Position: Long DISH stock @ $40.50

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

Long May $40 call (DISH1318E40) entry $1.85

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



The Kroger Co. - KR - close: 34.45 change: +0.17

Stop Loss: 32.90
Target(s): 36.50
Current Gain/Loss: +1.8%

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:
04/29/13: Investors continue to buy the dips in KR at its rising 10-dma. Shares look poised to accelerate higher. More conservative traders may want to raise their stops.

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



Altria Group - MO - close: 36.61 change: +0.54

Stop Loss: 35.35
Target(s): 40.00
Current Gain/Loss: + 0.3%

Entry on April 29 at $36.50
Listed on April 27, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 8.6 million
New Positions: see below

Comments:
04/29/13: The rally accelerates in shares of MO with a bullish breakout past its 2012 highs. Shares hit our entry trigger at $36.50. I would still consider new positions now while more nimble traders may want to buy a dip near $36.00.

Earlier Comments:
If triggered our target is $40.00 but keep in mind that MO does not move very fast. This could be a multi-week trade.

current Position: Long MO stock @ $36.50

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

Long Jun $35 call (MO1322F35) entry $1.80



Starz - STRZA - close: 23.46 change: +0.17

Stop Loss: 21.75
Target(s): 24.00
Current Gain/Loss: +7.9%

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:
04/29/13: STRZA has kept the rally alive with another gain but shares are starting to look short-term overbought. More conservative investors may want to take profits early.

*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



The TJX Companies - TJX - close: 48.84 change: +0.44

Stop Loss: 46.45
Target(s): 52.00
Current Gain/Loss: + 2.3%

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:
04/29/13: TJX has managed quite a turnaround in the last couple of weeks. Today's rally has lifted TJX to a new all-time, record high. I am 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.



BEARISH Play Updates

BroadSoft, Inc. - BSFT - close: 24.41 change: -0.02

Stop Loss: 25.15
Target(s): 20.75
Current Gain/Loss: + 0.4%

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:
04/29/13: BSFT tried to rally again this morning but failed at resistance near $25.00. We don't have much time left with earnings on May 6th. Investors may want to exit early. 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)



Check Point Software - CHKP - close: 45.61 change: +0.51

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:
04/29/13: CHKP bounced with a +1.1% gain and a close above what should have been short-term technical resistance at the 10-dma. If this rebound continues we may have to drop CHKP as a bearish candidate.

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)



Home Inns & Hotels - HMIN - close: 25.06 change: +0.10

Stop Loss: 25.25
Target(s): 20.25
Current Gain/Loss: unopened

Entry on April -- at $--.--
Listed on April 27, 2013
Time Frame: exit PRIOR to earnings on May 13th
Average Daily Volume = 371 thousand
New Positions: Yes, see below

Comments:
04/29/13: HMIN did not see a lot of movement today as it hovered near the $25.00 mark. I don't see any changes from my weekend comments.

I am suggesting a trigger to launch bearish positions at $24.00. More aggressive traders could jump in sooner. If triggered our target is $20.25. We do not want to hold over the earnings report on May 13th.

Trigger @ 24.00

Suggested Position: short HMIN stock @ (trigger)



Virtusa Corp. - VRTU - close: 22.05 change: +0.17

Stop Loss: 22.65
Target(s): 20.10
Current Gain/Loss: -1.1%

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:
04/29/13: VRTU bounced but shares pared their gains before the stock made it to the 10-dma. The trend of lower highs remains intact. I would still consider new bearish positions now or you could wait for a new relative low.

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

*Small Positions*

current Position: short VRTU stock @ $21.80



CLOSED BEARISH PLAYS

Computer Sciences Corp. - CSC - close: 46.37 change: +0.77

Stop Loss: 46.25
Target(s): 42.00
Current Gain/Loss: - 0.5%

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:
04/29/13: The oversold bounce in CSC continues and shares outperformed the market with a +1.6% gain on Monday. The stock hit our stop loss at $46.25.

closed Position: short CSC stock @ $46.00 exit $46.25 (-0.5%)

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

May $45 PUT (CSC1318Q45) entry $1.95 exit $1.60 (-17.9%)

04/29/13 stopped out
04/24/13 new stop loss @ 46.25
04/20/13 new stop loss @ 47.25

chart: