Editor's Note:
The U.S. market witnessed a widespread rebound on Tuesday. Small caps and the transports managed to outperform the big caps.

EGL was triggered today. SAVE was stopped out.


Current Portfolio:


BULLISH Play Updates

Acadia Healthcare - ACHC - close: 34.83 change: -0.07

Stop Loss: 33.60
Target(s): 38.50
Current Gain/Loss: - 0.9%

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:
06/25/13: ACHC's performance today (-0.2%) was disappointing but it followed a strong move higher yesterday so I'm willing to forgive it. Nimble traders could buy dips near the rising 30-dma (currently around $33.90).

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: 14.73 change: +0.12

Stop Loss: 13.85
Target(s): 16.00
Current Gain/Loss: + 0.9%

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:
06/25/13: ARCP gapped open higher this morning but then spent the rest of the day consolidating sideways. I would still consider new bullish positions now. More conservative traders may want to wait for a rally above $15.00 as an alternative entry point.

*small positions*

current Position: Long ARCP stock @ $14.60



Engility Holdings - EGL - close: 27.91 change: -0.22

Stop Loss: 26.99
Target(s): 32.50
Current Gain/Loss: - 1.2%

Entry on June 25 at $28.25
Listed on June 24, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 96 thousand
New Positions: see below

Comments:
06/25/13: EGL rallied this morning and shares hit new record highs at $28.38. Unfortunately the rally ran out of fuel and shares reversed. That means today's move could potentially be a bull-trap pattern. Our trigger was hit at $28.25. I would be cautious here. If you're looking for a new entry point consider waiting for a new high.

Earlier Comments:
There appears to be some short-term resistance near $28.20 and a breakout past this level could spark some short covering. The most recent data listed short interest a 10% of the small 12.7 million share float.

current Position: Long EGL stock @ $28.25



Shutterstock, Inc. - SSTK - close: 49.81 change: -0.07

Stop Loss: 47.45
Target(s): 54.85
Current Gain/Loss: unopened

Entry on June -- at $--.--
Listed on June 24, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 106 thousand
New Positions: Yes, see below

Comments:
06/25/13: Tuesday was a very quiet day for SSTK with the stock trading inside a 60-cent range. There is no change from my prior comments. If shares can push higher SSTK might see some short covering. The most recent data listed short interest at 8% of the very, very small float of just 6.28 million shares.

I am suggesting a trigger to open bullish positions at $50.50. If triggered our target is $54.85.
FYI: The Point & Figure chart for SSTK is bullish with a $63 target.

Trigger @ 50.50 *small positions*

Suggested Position: buy SSTK stock @ (trigger)



BEARISH Play Updates

Freeport-McMoRan - FCX - close: 27.26 change: +0.44

Stop Loss: 29.05
Target(s): 25.50
Current Gain/Loss: + 4.5%

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:
06/25/13: The stock market's bullish open this morning helped shares of FCX gap open higher at $27.26. A bounce in copper prices likely helped as well. Make no mistake, the price of copper is going to have a big influence on FCX's stock price. Both just bounced from new 52-week lows. The overall trend for both remains down.

I am not suggesting new positions at this time. Look for overhead resistance at the simple 10-dma (currently 28.72).

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

Spirit Airlines - SAVE - close: 30.49 change: -1.94

Stop Loss: 31.25
Target(s): 34.00
Current Gain/Loss: + 3.3%

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:
06/25/13: Ouch! SAVE erased a large chunk of our potential gains with a -5.9% plunge today. I didn't see any headlines that may account for today's show of relative weakness. I did hear something about SAVE and the upcoming Consumer Reports. Sure enough, poking around, I did find a page about the July 2013 Consumer Reports that listed SAVE as receiving some of the worst reviews. This is a potential culprit behind today's sell-off but we can't know for sure.

Here's the webpage (click here) .

Our stop loss was hit at $31.25. I'm really closed we closed the call option positions a few days ago.

closedt Position: Long SAVE stock @ $30.25 exit $31.25 (+3.3%)

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

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

06/25/13 stopped out
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

chart: