Editor's Note:
Shares of Puma Biotech (PBYI) hit our bullish target today.

Elsewhere ADUS hit our stop loss. ARCP was triggered. We have removed FRGI and PRA.


Current Portfolio:


BULLISH Play Updates

Acadia Healthcare - ACHC - close: 34.90 change: +0.60

Stop Loss: 33.60
Target(s): 38.50
Current Gain/Loss: - 0.7%

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:
06/24/13: ACHC displayed relative strength again today. The stock did not participate in the stock market's widespread spike lower this morning. Furthermore ACHC managed to rally from support at its 30-dma and post a +1.74% gain today.

current Position: Long ACHC stock @ $35.15

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



American Realty Capital Prop. - ARCP - close: 14.61 change: +0.16

Stop Loss: 13.85
Target(s): 16.00
Current Gain/Loss: + 0.1%

Entry on June 24 at $14.60
Listed on June 22, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 4.8 million
New Positions: see below

Comments:
06/24/13: ARCP displayed some relative strength. Traders bought the dip near support at $14.00 midday and ended the session up +1.1%. Our trigger to launch bullish positions was hit at $14.60.

*small positions*

current Position: Long ARCP stock @ $14.60



Spirit Airlines - SAVE - close: 32.43 change: -0.17

Stop Loss: 31.25
Target(s): 34.00
Current Gain/Loss: + 7.2%

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:
06/24/13: Traders stepped in and bought the dip in SAVE near its rising 20-dma. Shares managed to pare their losses to just -0.5%. If you were looking for a new entry point, this could work, although if you're launching positions now you may want to aim higher. Officially I am not suggesting new positions at this time.

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%)

06/22/13 new stop loss @ 31.25
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: 26.82 change: -1.34

Stop Loss: 29.05
Target(s): 25.50
Current Gain/Loss: + 6.0%

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:
06/24/13: News surfaced this weekend that FCX had restarted production at its massive Grasberg mine in Indonesia. This is good news for the company suffering from its recent shut down. Yet the announcement failed to help the stock price. Investors are still concerned about a slowing global economy, especially with the recent slowdown in China, which could influence demand for basic materials like copper.

Shares of FCX plunged to new multi-year lows and underperformed the market with a -4.75% loss. Tonight we are adjusting our stop loss down to $29.05.

NOTE: Our exit target is $25.50. More aggressive traders may want to aim lower.

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

06/24/13 new stop loss @ 29.05
06/22/13 new stop loss @ 29.51
06/20/13 trade opened on gap down at $28.54. Trigger was $29.00



CLOSED BULLISH PLAYS

Addus HomeCare - ADUS - close: 18.23 change: -1.31

Stop Loss: 18.75
Target(s): 24.00
Current Gain/Loss: -6.9%

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:
06/24/13: The broad-based sell-off in stocks this morning hit shares of ADUS pretty hard. This stock underperformed with a plunge to $16.62. Our stop loss was hit pretty early this morning at $18.75.

*small positions*

closed Position: Long ADUS stock @ $20.15 exit $18.75 (-6.9%)

06/24/13 stopped out
06/22/13 new stop loss @ 18.75
06/19/13 new stop loss @ 18.49

chart:



Fiesta Restaurant Group, Inc. - FRGI - close: 33.62 change: -2.05

Stop Loss: 34.35
Target(s): 39.75
Current Gain/Loss: unopened

Entry on June -- at $--.--
Listed on June 20, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 238 thousand
New Positions: see below

Comments:
06/24/13: FRGI displayed significant relative weakness today with a -5.74% decline and a breakdown below its 20-dma, 30-dma and the $34.00 level. Our trade has not opened yet. We are removing FRGI as an active candidate.

Trade did not open.

chart:



Puma Biotechnology - PBYI - close: 44.72 change: +2.17

Stop Loss: 38.90
Target(s): 44.75
Current Gain/Loss: +10.2%

Entry on June 21 at $40.60
Listed on June 19, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 194 thousand
New Positions: see below

Comments:
06/24/13: Target achieved.

PBYI continues to show relative strength with a +5.0% gain on Monday. This is on top of Friday's +9.4% gain. Our exit target was hit at 444.75.

*Small Positions*

closed Position: Long PBYI stock @ $40.60 exit $44.75 (+10.2%)

06/24/13 target hit

chart:



ProAssurance Corp. - PRA - close: 50.28 change: -1.02

Stop Loss: 49.95
Target(s): 55.00
Current Gain/Loss: unopened

Entry on June -- at $--.--
Listed on June 22, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 219 thousand
New Positions: see below

Comments:
06/24/13: PRA posted another sharp decline and underperformed the market with a -1.98% drop today. Shares fell through technical support near its 30-dma. It is worth noting that PRA found support at the $50.00 mark and its 50-dma this afternoon. More aggressive traders may want to consider buying this dip now and using a tight stop loss under today's low. We, on the other hand, are removing PRA from the newsletter. Our trade did not open.

Trade did not open.

chart: