Editor's Note:
We have closed our ACAD trade after a huge move higher in the stock. Meanwhile our ACHC trade was triggered.


Current Portfolio:


BULLISH Play Updates

Acadia Healthcare - ACHC - close: 34.70 change: -0.25

Stop Loss: 32.99
Target(s): 38.50
Current Gain/Loss: - 1.3%

Entry on June 11 at $35.15
Listed on June 10, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 273 thousand
New Positions: see below

Comments:
06/11/13: As expected shares of ACHC broke through resistance near $35.00. The stock did hit our trigger to launch positions at $35.15. Unfortunately the stock succumbed to the market's widespread declines and reversed course. ACHC settled with a -0.7% decline. The $34.00 level should offer some short-term support but if the market accelerates lower we could see shares testing their 30-dma again.

current Position: Long ACHC stock @ $35.15



Delphi Automotive - DLPH - close: 49.90 change: -0.76

Stop Loss: 47.85
Target(s): 54.50
Current Gain/Loss: - 0.7%

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:
06/11/13: A lot of stocks gapped open lower today and DLPH was one of them. Shares spent most of the session hovering just below the $50.00 mark. A bounce from here could be used as a new entry point. However, if the market continues to sink tomorrow we could see DLPH testing its 20-dma near $48.75.

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: 22.60 change: -0.27

Stop Loss: 22.40
Target(s): 25.75
Current Gain/Loss: - 2.2%

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:
06/11/13: The massive E3 video game convention in Los Angeles has begun but it's not having any sort of bullish affect on shares of EA. The stock is down -1.18% today in spite of news that company announced 11 new game titles.

On a short-term basis it looks like shares of EA may have reversed and the close below its 10-dma and 20-dma is short-term bearish. If there is any follow through lower tomorrow we will see EA hit our stop at $22.40.

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: 28.41 change: -0.64

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:
06/11/13: LGF retreated lower for a second session. The stock should find support near $28.00 and nimble traders may want to buy a dip or a bounce from the $28 level. For the moment we are sticking to our plan and keeping the entry trigger at $29.60.

Trigger @ 29.60 *Small Positions*

Suggested Position: buy LGF stock @ (trigger)



Ryanair Holdings - RYAAY - close: 50.02 change: +0.00

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:
06/11/13: Like many stocks today shares of RYAAY gapped down at the open. Yet this airline stock managed to march back toward the breakeven point and close unchanged on the session. 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: 32.17 change: -0.12

Stop Loss: 29.75
Target(s): 34.00
Current Gain/Loss: + 6.3%

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:
06/11/13: Shares of SAVE endured the market's widespread weakness today relatively well. Traders bought the dip this morning and pared SAVE's losses to -0.3%. More conservative traders may want to consider taking profits now or raising your stop loss closer to $31.00.

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: 35.99 change: +0.44

Stop Loss: 37.25
Target(s): 31.00
Current Gain/Loss: +5.3%

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:
06/11/13: Hmm... the recent action in RAX is interesting. Shares managed to buck the market's down trend today and post a +1.2% gain. Shares tagged short-term technical resistance at its simple 10-dma at its high for the day.

If this just an oversold bounce or is this the beginning of a bullish reversal? RAX is up four days in a row. That is a little bit worrisome if you're bearish.

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 BULLISH PLAYS

ACADIA Pharma. - ACAD - close: 18.85 change: -0.67

Stop Loss: 14.95
Target(s): (see below)
Current Gain/Loss: +29.0%

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:
06/11/13: ACAD gave back -3.4% today after a sharp three-day rally. Last night we announced plans to exit positions immediately at the opening bell this morning. ACAD was kind enough to actually gap open higher at $19.57 before giving into profit taking.

*Small Positions*

closed Position: Long ACAD stock @ $15.17 exit $19.57 (+29.0%)

06/11/13 closed this morning at the open
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

chart: