Editor's Note:
U.S. stocks produced a lackluster session. Small caps were a bright spot with the Russell 2000 closing on its highs for the day.

CAG and SWY were stopped out.

We want to exit our ACAD immediately to lock in gains.


Current Portfolio:


BULLISH Play Updates

ACADIA Pharma. - ACAD - close: 19.52 change: +2.51

Stop Loss: 14.95
Target(s): (see below)
Current Gain/Loss: +28.7%

Entry on June 06 at $15.17
Listed on June 05, 2013
Time Frame: 4 to 6 weeks
Average Daily Volume = 3.1 million
New Positions: see below

Comments:
06/10/13: Boom! Shares of ACAD continue to race higher. The stock surged another +14.75% on top of last week's gains. The rally did stall near round-number, psychological resistance at the $20.00 level today.

I am suggesting an immediate exit at the opening bell tomorrow to lock in gains.

*Small Positions*

current Position: Long ACAD stock @ $15.17

06/10/13 prepare to exit immediately at the open tomorrow
06/06/13 new stop loss @ 14.95, adjust exit target to $17.90
06/06/13 trade opened on gap higher at $15.17



Delphi Automotive - DLPH - close: 50.66 change: +0.26

Stop Loss: 47.85
Target(s): 54.50
Current Gain/Loss: + 0.8%

Entry on June 07 at $50.25
Listed on June 06, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 2.3 million
New Positions: see below

Comments:
06/10/13: DLPH continues to rally following Friday's bullish breakout past resistance at $50.00. Nimble traders could look for a dip back toward $50 or its 10-dma as an alternative entry point.

current Position: Long DLPH stock @ $50.25

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

Long Aug $50 call (DLPH1317H50) entry $2.40



Electronic Arts - EA - close: 22.87 change: -0.74

Stop Loss: 22.40
Target(s): 25.75
Current Gain/Loss: - 1.0%

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:
06/10/13: EA must have said something wrong at the video game E3 conference that started today. Yet I can't find any negative headlines to explain today's relative weakness. I do note that EA's peers, like ATVI and TTWO, both underperformed the market as well today. It could be industry wide concerns about slowing video game sales. Yet I would have expected investors to be bullish given the new consoles being launched by Microsoft and Sony (xbox one vs. play station 4).

I am not suggesting new positions on EA at this time.

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

06/01/13 new stop loss @ 22.40



Lions Gate Entertainment - LGF - close: 29.05 change: -0.22

Stop Loss: 27.80
Target(s): 34.00
Current Gain/Loss: unopened

Entry on June -- at $--.--
Listed on June 08, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 1.5 million
New Positions: Yes, see below

Comments:
06/10/13: LGF tried to rally twice today but shares failed to hit our entry trigger at $29.60. I don't see any changes from my weekend comments.

We are suggesting small bullish positions if LGF can trade at $29.60. If triggered our target is $34.00.

Trigger @ 29.60 *Small Positions*

Suggested Position: buy LGF stock @ (trigger)



Ryanair Holdings - RYAAY - close: 50.02 change: -0.08

Stop Loss: 48.75
Target(s): 55.00
Current Gain/Loss: unopened

Entry on June -- at $--.--
Listed on June 08, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 319 thousand
New Positions: Yes, see below

Comments:
06/10/13: The rally in the airline industry stalled a bit today. RYAAY managed to just barely tag a new high but it did not hit our suggested entry trigger at $50.50. I don't see any changes from my weekend comments.

I am suggesting small bullish positions if RYAAY can trade at $50.50. If triggered our target is $55.00.

Earlier Comments:
Please note I want to point out that RYAAY is a foreign company and its stock tends to gap open, up or down, each day as trading in the U.S. reacts to trading in Europe. Secondly I want to point out that there is a legal drama brewing between RYAAY and the U.K. government. There have been news articles discussing how the U.K. government "may force RYAAY to sell its 30% stake in Aer Lingus" (Reuters) because this ownership stake may allow RYAAY too much influence over its rival. The minority stake might prevent Aer Lingus from merging with another airline. Thus far this story does not seem to have any impact on RYAAY's stock price but investors should be aware of it.

Trigger @ $50.50 *Small Positions*

Suggested Position: buy RYAAY stock @ (trigger)



Spirit Airlines - SAVE - close: 32.29 change: +1.22

Stop Loss: 29.75
Target(s): 34.00
Current Gain/Loss: + 6.7%

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:
06/10/13: SAVE was an exception to the slowing rally in the airlines today. The stock surged higher with a bullish breakout to new record highs and it outperformed the market with a +3.9% gain. I am raising the stop loss to $29.75.

current Position: Long SAVE stock @ $30.25

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

Long Jul $30 call (SAVE1320G30) entry $1.50

06/10/13 new stop loss @ 29.75
06/08/13 new stop loss @ 29.49
06/01/13 new stop loss @ 29.20



BEARISH Play Updates

Rackspace Holdings - RAX - close: 35.55 change: +0.03

Stop Loss: 37.25
Target(s): 31.00
Current Gain/Loss: +6.5%

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:
06/10/13: There was no follow through on RAX's recent bounce. Shares closed virtually unchanged today. I am not suggesting new positions and more conservative traders may want to lock in gains now.

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

06/06/13 new stop loss @ 37.25
06/05/13 new stop loss @ 37.75
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.



CLOSED BEARISH PLAYS

ConAgra Foods - CAG - close: 33.85 change: +0.10

Stop Loss: 33.85
Target(s): 30.15
Current Gain/Loss: -0.5%

Entry on June 03 at $33.67
Listed on June 01, 2013
Time Frame: Exit PRIOR to earnings on June 27th
Average Daily Volume = 2.8 million
New Positions: see below

Comments:
06/10/13: CAG rallied just enough to hit our new stop loss at $33.85. Nimble traders may want to look for a new bearish entry point on a failed rally near $35.00 and its 50-dma.

closed Position: short CAG stock @ $33.67 exit $33.85 (-0.5%)

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

Jul $33 PUT (CAG1320S33) entry $0.80 exit $0.50 (-37.5%)

06/10/13 stopped out
06/06/13 new stop loss @ 33.85

chart:



Safeway Inc. - SWY - close: 23.03 change: +0.32

Stop Loss: 23.15
Target(s): 20.00
Current Gain/Loss: - 1.1%

Entry on June 03 at $22.90
Listed on June 01, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 4.4 million
New Positions: see below

Comments:
06/10/13: SWY rallied past its 10-dma and almost pierced the 100-dma before paring its gains. Our stop loss was hit at $23.15.

Earlier Comments:
I am suggesting we keep our position size small because the most recent data listed short interest at 23% of the 234 million-share float. That does raise the risk of a short squeeze. You could try and limit your risk by trading the options.

*Small Positions*

closed Position: short SWY stock @ $22.90 exit $23.15 (-1.1%)

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

Jul $23 PUT (SWY1320S23) entry $1.35 exit $1.10 (-18.5%)

06/10/13 stopped out
06/06/13 new stop loss @ 23.15

chart: