Editor's Note:
The post-Fed meeting sell-off accelerated today and the U.S. stock market delivered its worst day of the year.

ACAD has been removed. ACOR was stopped out. FCX was triggered.


Current Portfolio:


BULLISH Play Updates

Acadia Healthcare - ACHC - close: 34.16 change: -0.58

Stop Loss: 33.60
Target(s): 38.50
Current Gain/Loss: - 2.8%

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:
06/20/13: ACHC dipped again but technical support at the rising 30-dma continues to hold. Traders could use this dip as a new entry point.

current Position: Long ACHC stock @ $35.15

06/18/13 new stop loss @ 33.60
06/13/13 new stop loss @ 33.35



Addus HomeCare - ADUS - close: 19.97 change: +0.12

Stop Loss: 18.49
Target(s): 24.00
Current Gain/Loss: -0.9%

Entry on June 17 at $20.15
Listed on June 15, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 178 thousand
New Positions: see below

Comments:
06/20/13: I am impressed by the relative strength in ADUS. If there was a day for investors to throw in the towel and sell it, today was it. Yet ADUS bounced from short-term technical support at the 10-dma and actually posted a gain.

*small positions*

current Position: Long ADUS stock @ $20.15

06/19/13 new stop loss @ 18.49



Delphi Automotive - DLPH - close: 50.25 change: -1.84

Stop Loss: 49.75
Target(s): 54.50
Current Gain/Loss: + 0.0%

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:
06/20/13: DLPH was not immune to the stock market's sell-off. Shares actually underperformed with a -3.5% decline that erased multiple days worth of gains. Yet traders bought the dip near $50.00 this afternoon. If there is any follow through lower tomorrow then we'll see DLPH hit our stop at $49.75.

current Position: Long DLPH stock @ $50.25

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

Long Aug $50 call (DLPH1317H50) entry $2.40

06/19/13 new stop loss @ 49.75
06/17/13 new stop loss @ 49.25



Hewlett-Packard - HPQ - close: 24.72 change: -0.71

Stop Loss: 24.40
Target(s): 29.50
Current Gain/Loss: - 3.6%

Entry on June 19 at $25.65
Listed on June 17, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 22 million
New Positions: see below

Comments:
06/20/13: Shares of HPQ were upgraded this morning but the news had little impact on the stock today. Shares plunged -2.79% and closed just below their 10 and 20-dma. If there is any follow through lower tomorrow we'll most likely see HPQ hit our stop at $24.40.

current Position: Long HPQ stock @ $25.65

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

Long Aug $25 call (HPQ1317H25) entry $1.70



Puma Biotechnology - PBYI - close: 38.89 change: -1.12

Stop Loss: 38.90
Target(s): 44.75
Current Gain/Loss: unopened

Entry on June -- at $--.--
Listed on June 19, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 194 thousand
New Positions: Yes, see below

Comments:
06/20/13: PBYI erased yesterday's gain with a -2.79% decline today. Yet short-term support near $38.00 seems to be holding for now. Currently the plan is to wait for a new high.

I am suggesting a trigger to launch bullish positions at $40.60. We do want to keep our position size small. Biotech stocks can be dangerous. The wrong headline with disappointing news about a drug trials or something similar can send a biotech stock gapping lower.

If triggered at $40.60 we'll use a stop loss at $38.90. Our target is $44.75.

Trigger @ 40.60 *Small Positions*

Suggested Position: buy PBYI stock @ (trigger)



Ryanair Holdings - RYAAY - close: 49.62 change: -0.28

Stop Loss: 48.95
Target(s): 55.00
Current Gain/Loss: - 1.7%

Entry on June 14 at $50.50
Listed on June 08, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 319 thousand
New Positions: see below

Comments:
06/20/13: RYAAY gapped open higher at $51.00 this morning but immediately spiked lower. The stock only lost -0.5% today, which is arguably a show of relative strength compared to the market's decline. In spite of that shares have been acting odd lately. We are suggesting an early exit immediately at the opening bell tomorrow morning.

Earlier Comments:
The plan was to keep our position size small.

*Small Positions*

current Position: Long RYAAY stock @ $50.50

06/20/13 prepare to exit at the open tomorrow morning
06/19/13 new stop loss @ 48.95



Spirit Airlines - SAVE - close: 32.70 change: -0.73

Stop Loss: 30.95
Target(s): 34.00
Current Gain/Loss: + 8.1%

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:
06/20/13: SAVE gave back -2.1% today. Considering the stock's recent series of highs I am surprised SAVE didn't see more profit taking. Readers may want to go ahead and take profits now. I am not suggesting new positions.

current Position: Long SAVE stock @ $30.25

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

Jul $30 call (SAVE1320G30) entry $1.50 exit $3.05 (+103.3%)

06/19/13 new stop loss @ 30.95
06/19/13 closed the July $30 calls this morning
06/18/13 prepare to exit July $30 calls at the open tomorrow morning.
06/18/13 new stop loss @ 30.80
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

Freeport-McMoRan - FCX - close: 27.72 change: -1.47

Stop Loss: 30.35
Target(s): 25.50
Current Gain/Loss: + 2.9%

Entry on June 20 at $28.54
Listed on June 15, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 20 million
New Positions: see below

Comments:
06/20/13: We've been waiting to launch bearish positions on FCX until shares hit $29.00. The stock vaulted past our suggested trigger this morning with a gap down at $28.54. The market's weakness pushed FCX to a -5.0% decline and a new seven-week low. Our trade opened on the gap down.

Bear in mind that the April low in the $27.24 area could actually be short-term support and FCX may manage a short-term bounce from this level.

FYI: FCX has a special $1.00 dividend payable on July 1st, 2013 to shareholders of record on June 14th.

current Position: short FCX stock @ $28.54

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

Long Aug $27 PUT (FCX1317T27) entry $0.85

06/20/13 trade opened on gap down at $28.54. Trigger was $29.00



Rentech Nitrogen Partners - RNF - close: 28.00 change: +0.05

Stop Loss: 28.35
Target(s): 25.15
Current Gain/Loss: + 3.4%

Entry on June 17 at $29.00
Listed on June 13, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 159 thousand
New Positions: see below

Comments:
06/20/13: RNF is not giving up on its oversold bounce. Shares ignored the market's weakness today and continued to push higher, albeit at a slower pace. Still, shares did post a gain and that show of relative strength is concerning.

Tonight we are adjusting our stop loss down to $28.35. More aggressive traders may want to keep their stop loss above the simple 10-dma (currently $29.30) instead.

I am not suggesting new positions.

Earlier Comments:
We want to keep our position size small because RNF is arguably already oversold. Of course it can remain oversold for months but we still want to limit our risk.

*small positions*

current Position: short RNF stock @ $29.00

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

Long Jul $27.50 PUT (RNF1320s27.5) entry $0.65

06/20/13 new stop loss @ 28.35
06/19/13 warning, RNF looks like it's reversing higher.
06/19/13 new stop loss @ 30.05
06/18/13 new stop loss @ 30.55



CLOSED BULLISH PLAYS

ACADIA Pharmaceuticals - ACAD - close: 17.77 change: -0.32

Stop Loss: 18.20
Target(s): 24.50
Current Gain/Loss: unopened

Entry on June -- at $--.--
Listed on June 15, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 4.1 million
New Positions: see below

Comments:
06/20/13: ACAD is still sinking. Shares are now down four days in a row and confirmed the breakdown below its 10-dma. Investors may want to put ACAD on their watch list for a breakout above $20.00 down the road.

Our trade has not opened (trigger @ 20.20) so we're removing ACAD as a candidate.

Trade did not open.

06/20/13 removed from the newsletter

chart:



Acorda Therapeutics - ACOR - close: 32.69 change: -2.15

Stop Loss: 33.40
Target(s): 39.00
Current Gain/Loss: - 5.4%

Entry on June 19 at $35.30
Listed on June 18, 2013
Time Frame: 3 to 8 weeks
Average Daily Volume = 315 thousand
New Positions: see below

Comments:
06/20/13: Ouch! Biotech stocks underperformed the broader market. Yet ACOR was more than twice as weak as its peers with a -6.1% sell-off. The stock fell to its 100-dma, which has been support in recent weeks. Our stop loss was hit at $33.40.

Earlier Comments:
You will notice on the chart that ACOR can be volatile. I do consider this an aggressive, higher-risk trade. Biotechs can be very volatile due to headline risk. I am suggesting we keep our position size small.

*Small Positions*

closed Position: long ACOR stock @ $35.30 exit $33.40 (-5.4%)

chart: