Editor's Note:
The market saw a widespread decline today but there were exceptions. Semiconductors, insurance and precious metals posted gains.

MOH hit our entry trigger. See play for details.


Current Portfolio:


BULLISH Play Updates

Barnes Group - B - close: 30.14 change: -0.52

Stop Loss: 29.90
Target(s): 34.75
Current Gain/Loss: unopened

Entry on May -- at $--.--
Listed on May 28, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 310 thousand
New Positions: Yes, see below

Comments:
05/29/13: There was no follow through on yesterday's rally in shares of B. The stock almost reversed yesterday's rally with a -1.69% loss today. Yet the trend of higher lows remains intact for now. There is no change from my prior comments.

I am suggesting with launch small bullish positions if B can hit our entry trigger at $31.10. If triggered our target is $34.75.

Trigger @ 31.10 *Small Positions*

Suggested Position: buy B stock @ (trigger)



Electronic Arts - EA - close: 23.16 change: -0.10

Stop Loss: 21.90
Target(s): 25.75
Current Gain/Loss: + 0.2%

Entry on May 28 at $23.10
Listed on May 23, 2013
Time Frame: 4 to 6 weeks
Average Daily Volume = 6.0 million
New Positions: see below

Comments:
05/29/13: Shares of EA held up reasonably well today. The stock churned sideways near the $23.00 level. Cautions traders may want to wait for a rally above today's high (23.48) before initiating new positions.

Earlier Comments:
If triggered our target is $25.75. However, that is a slightly aggressive target. The $25.00 level has been resistance in the past and could be resistance again.

current Position: Long EA stock @ $23.10

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

Long Jul $25 call (EA1320G25) Entry $0.62



Groupon, Inc. - GRPN - close: 7.41 change: +0.02

Stop Loss: 6.89
Target(s): 9.00
Current Gain/Loss: + 0.0%

Entry on May 28 at $ 7.41
Listed on May 25, 2013
Time Frame: 10 to 12 weeks
Average Daily Volume = 20.5 million
New Positions: see below

Comments:
05/29/13: GRPN also delivered a relatively quiet day. The stock consolidating sideways under the $7.50 level. Readers may want to wait for a rally past today's high (7.53) before initiating new positions.

Earlier Comments:
Due to the stock's volatility in the last couple of months I am suggesting we keep our position size small to limit risk.
FYI: The Point & Figure chart for GRPN is bullish with a $10.50 target.

current Position: Long GRPN stock @ $7.41



Molina Healthcare - MOH - close: 38.17 change: -0.38

Stop Loss: 37.40
Target(s): 42.00
Current Gain/Loss: - 1.1%

Entry on May 29 at $38.60
Listed on May 22, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 660 thousand
New Positions: see below

Comments:
05/29/13: Hmm... MOH managed to tag a new all-time high today before paring its gains and closing lower. The stock did hit our trigger to open bullish positions at $38.60. If you missed it and you're still looking for a bullish entry point then consider waiting for a rally past today's high (38.74).

Earlier Comments:
I want to repeat that we are suggesting small positions. If the broader market continues lower we could see MOH reverse.

*Small Positions*

current Position: Long MOH stock @ $38.60



Spirit Airlines - SAVE - close: 30.31 change: +0.23

Stop Loss: 28.75
Target(s): 34.00
Current Gain/Loss: + 0.2%

Entry on May 28 at $30.25
Listed on May 25, 2013
Time Frame: 8 to 9 weeks
Average Daily Volume = 686 thousand
New Positions: see below

Comments:
05/29/13: Good news! There was no follow through on yesterday's intraday pullback in shares of SAVE. Instead traders bought the dip this morning and SAVE outperformed the market with a +0.7% gain.

current Position: Long SAVE stock @ $30.25

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

Long Jul $30 call (SAVE1320G30) entry $1.50



SunTrust Banks - STI - close: 32.00 change: -0.24

Stop Loss: 30.95
Target(s): 34.50
Current Gain/Loss: + 1.9%

Entry on May 16 at $31.40
Listed on May 15, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 4.4 million
New Positions: see below

Comments:
05/29/13: There has been a lot of talk about rising interest rates being profitable for banks. That's true but that doesn't mean the financials won't decline of the market turns lower. STI garnered some bullish analyst comments this morning but that didn't stop shares from slipping -0.7% today.

I am not suggesting new positions at this time.

Earlier Comments:
I want to remind you that the 2011 highs near $33.00-33.15 could prove to be resistance. More conservative traders may want to exit near $33.00.

current Position: Long STI stock @ $31.40

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

Long Jul $32 call (STI1320G32) entry $0.78

05/28/13 call option traders might want to take profits early right now.
note: STI will begin trading ex-dividend tomorrow (10 cents)
05/20/13 new stop loss @ 30.95



BEARISH Play Updates

Rackspace Holdings - RAX - close: 37.95 change: -1.35

Stop Loss: 40.10
Target(s): 31.00
Current Gain/Loss: +0.2%

Entry on May 22 at $38.02
Listed on May 21, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 3.0 million
New Positions: see below

Comments:
05/29/13: RAX delivered a nice bearish reversal at resistance near $40.00. Today's -3.4% decline may have gotten a boost from some bearish analyst comments on RAX this morning. Traders could use today's weakness as a new entry point for bearish positions.

Earlier Comments:
If you're concerned about shorting RAX then buy the put option to limit your risk to the cost of your option.

current Position: short RAX stock @ $38.02

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

Long Jun $37.50 PUT (RAX1322r37.5) entry $1.60

05/25/13 new stop loss at $40.10, more conservative traders may want to exit early now.
05/24/13 RAX confirms the bullish reversal pattern.
05/23/13 RAX produced a bullish reversal candlestick.