Editor's Note:
The U.S. market continues to drift higher with the large cap indices nearing resistance. We should see a breakout or a reversal tomorrow following the FOMC interest rate announcement.

DISH and BSFT were stopped out.

We want to exit STRZA and TRLA immediately at the open tomorrow.

CHKP was removed.


Current Portfolio:


BULLISH Play Updates

Big Lots Inc. - BIG - close: 36.42 change: -0.11

Stop Loss: 35.65
Target(s): 41.50
Current Gain/Loss: -1.0%

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:
04/30/13: It might be time for us to abandon ship with this BIG trade. The stock is down three days in a row while the major indices are marching higher. If BIG doesn't improve tomorrow we might just drop it.

There is clear technical support at the rising 50-dma (currently at 35.20). I am raising our stop loss to $35.65, just below the 30-dma. 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

04/30/13 new stop loss @ 35.65



The Kroger Co. - KR - close: 34.38 change: -0.07

Stop Loss: 32.90
Target(s): 36.50
Current Gain/Loss: +1.6%

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:
04/30/13: KR delivered another quiet session with traders still buying the dips near its rising 10-dma. 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: 36.51 change: -0.10

Stop Loss: 35.35
Target(s): 40.00
Current Gain/Loss: + 0.0%

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:
04/30/13: MO followed the broader market lower this morning. Shares managed to pare their losses by the closing bell. 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: 23.38 change: -0.08

Stop Loss: 21.75
Target(s): 24.00
Current Gain/Loss: +7.5%

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:
04/30/13: STRZA is still holding up reasonably well. Yet momentum seems to be slowing down. Tonight we're pulling the plug on this play. I am suggesting an immediate exit tomorrow morning to lock in gains.

*Small Positions*

current Position: Long STRZA stock @ $21.75

04/30/13 prepare to exit tomorrow at the opening bell
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: 48.77 change: -0.07

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: exit PRIOR to earnings on May 21
Average Daily Volume = 4.7 million
New Positions: see below

Comments:
04/30/13: TJX rebounded off its morning lows and almost made it back into positive territory. I remain cautiously optimistic but 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

Home Inns & Hotels - HMIN - close: 24.92 change: -0.14

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:
04/30/13: Tuesday looked a lot like Monday with HMIN drifting sideways. We are waiting for a breakdown.

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)



Trulia, Inc. - TRLA - close: 29.06 change: -0.40

Stop Loss: 31.55
Target(s): 25.25
Current Gain/Loss: +0.7%

Entry on April 30 at $29.27
Listed on April 29, 2013
Time Frame: exit PRIOR to earnings in mid-May
Average Daily Volume = 581 thousand
New Positions: see below

Comments:
04/30/13: Our TRLA trade is already dead. Yesterday the source I used to look up TRLA's earnings date had it listed in mid-May. Unfortunately, TRLA reported today, after the closing bell. The company raised its Q2 forecast and the stock is soaring after hours. This is a good example of why we do not hold over an earnings announcement.

Right now shares of TRLA are trading around $31.50 after hours. We should expect a gap open higher. Considering the high amount of short interest in TRLA the post-earnings spike tomorrow could be sharp!

I am suggesting we exit immediately at the opening bell to limit any losses.

current Position: short TRLA @ $29.27

04/30/13 TRLA reported earnings after the closing bell. Shares look poised to gap open tomorrow morning.
We want to exit immediately at the open!



Virtusa Corp. - VRTU - close: 22.21 change: +0.16

Stop Loss: 22.65
Target(s): 20.10
Current Gain/Loss: -1.9%

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:
04/30/13: VRTU managed to outperform the major indices with a +0.7% gain. Yet the short-term trend is still down. 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 BULLISH PLAYS

Dish Network - DISH - close: 39.19 change: -1.37

Stop Loss: 39.15
Target(s): 44.50
Current Gain/Loss: - 3.3%

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:
04/30/13: What happened to DISH today? The stock looked so promising with a breakout to a new multi-year high yesterday. The answer to what happened to DISH was SoftBank. The Japanese firm came out swinging this morning, trying to beat up DISH's rival offer for Sprint Nextel. The rumor mill suggested that Sprint was favoring SoftBank's bid over DISH and shares of DISH plunged with a -3.3% decline. Our stop loss was hit at $39.15.

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

*Small Positions*

closed Position: Long DISH stock @ $40.50 exit $39.15 (-3.3%)

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

May $40 call (DISH1318E40) entry $1.85 exit $1.00 (-45.9%)

04/30/13 stopped out
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:



CLOSED BEARISH PLAYS

BroadSoft, Inc. - BSFT - close: 25.56 change: +1.15

Stop Loss: 25.15
Target(s): 20.75
Current Gain/Loss: - 2.7%

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:
04/30/13: BSFT shot higher this morning. I couldn't find any company-specific news behind the relative strength. The stock broke through resistance at $25.00 and hit our stop loss at $25.15.

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*

closed Position: short BSFT stock @ $24.50 exit $25.15 (-2.7%)

- (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%)

04/30/13 stopped out
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: 46.62 change: +1.01

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: see below

Comments:
04/30/13: CHKP is not cooperating. The stock outperformed the market with a +2.2% gain today. CHKP has now broken a key trend of lower highs. Our trade has not opened yet (trigger was $44.30). I am removing CHKP as an active candidate.

Trade did not open.

04/30/13 removed from the newsletter

chart: