Editor's Note:
The U.S. stock market is up three days in a row. The S&P 500 tagged resistance near 1620 and its simple 50-dma this morning and stalled.

NXST, SSTK, and EXXI all hit our entry triggers.


Current Portfolio:


BULLISH Play Updates

Acadia Healthcare - ACHC - close: 34.15 change: +0.14

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:
06/27/13: Warning! The action in ACHC these last three days is troubling. The market just produced one of its best three-day rallies this year. Yet ACHC is not participating. That's a warning flag for traders. More conservative traders may want to inch their stops closer to support near $33.80.

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: 15.20 change: +0.28

Stop Loss: 13.85
Target(s): 16.00
Current Gain/Loss: + 4.1%

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:
06/27/13: ARCP continues to perform well and delivered a +1.8% gain today. The close above round-number resistance at $15.00 is bullish. Now we just need to see it rally past the June 18th-19th highs.

*small positions*

current Position: Long ARCP stock @ $14.60



Community Health Systems - CYH - close: 47.71 change: +1.37

Stop Loss: 44.85
Target(s): 51.00
Current Gain/Loss: + 1.4%

Entry on June 26 at $47.05
Listed on June 25, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 1.2 million
New Positions: see below

Comments:
06/27/13: Good news! There was no follow through on yesterday's intraday pullback. Instead CYH outperformed the market with a +2.9% gain.

current Position: Long CYH stock @ $47.05



Engility Holdings - EGL - close: 28.50 change: +0.45

Stop Loss: 26.99
Target(s): 32.50
Current Gain/Loss: + 0.9%

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:
06/27/13: After a disappointing Tuesday and Wednesday performance shares of EGL finally decided to resume the up trend. The stock surged to a new high with today's +1.6% gain.

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



Nexstar Broadcasting - NXST - close: 35.46 change: +0.46

Stop Loss: 33.49
Target(s): 39.50
Current Gain/Loss: - 0.2%

Entry on June 27 at $35.53
Listed on June 26, 2013
Time Frame: 4 to 8 weeks
Average Daily Volume = 615 thousand
New Positions: see below

Comments:
06/27/13: The stock market's widespread rally this morning helped shares of NXST gapped open higher at $35.53. Since our suggested entry point was $35.50 our trade opened immediately. Unfortunately NXST didn't make it much farther. The spike this morning hit $36.00 and then shares spent the rest of the session drifting sideways. I would still consider new positions now but more nimble traders might want to wait and see if NXST provides a dip back toward $35.00 before moving higher.

*small positions*

current Position: Long NXST stock @ $35.53

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

Long Aug $40 call (NXST1317H40) entry $1.14

06/27/13 triggered on gap higher at $35.53 (trigger was 35.50)



Shutterstock, Inc. - SSTK - close: 53.56 change: +3.75

Stop Loss: 49.40
Target(s): 54.85
Current Gain/Loss: + 6.1%

Entry on June 27 at $50.50
Listed on June 24, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 106 thousand
New Positions: see below

Comments:
06/27/13: Bingo! We suspected that SSTK was coiling for a breakout. After starting off slow this morning shares finally rallied around 10:30 this morning and exploded through resistance. SSTK surged +7.5% and closed at a new high. Our exit target is $54.85. I am raising our stop loss to $49.40.

Earlier 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. FYI: The Point & Figure chart for SSTK is bullish with a $63 target.

*small positions*

current Position: Long SSTK stock @ $50.50

06/27/13 new stop loss @ 49.40
06/27/13 triggered @ 50.50



BEARISH Play Updates

Cliffs Natural Res. - CLF - close: 16.25 change: +0.55

Stop Loss: 16.51
Target(s): 12.15
Current Gain/Loss: unopened

Entry on June -- at $--.--
Listed on June 26, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 11.5 million
New Positions: Yes, see below

Comments:
06/27/13: CLF bounced back toward yesterday's highs. Shares spent most of the session inside a narrow 20-cent range. There is no change from my Wednesday night, new-play comments.

Earlier Comments:
If the $15.50 level breaks the next stop could be its 2009 lows near $12.00 (actually $11.84). I am suggesting small bearish positions if CLF hits $15.40 or lower. If triggered our target is $12.15. I am suggesting small positions because CLF is arguably oversold here. Instead of shorting CLF you may want to try and limit your risk by using put options (your risk being the cost of the option).

Trigger @ 15.40 *small positions*

Suggested Position: short CLF stock @ (trigger)

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

Buy the Aug $15 PUT (CLF1317T15)



Energy XXI Ltd. - EXXI - close: 22.92 change: -1.06

Stop Loss: 25.05
Target(s): 20.25
Current Gain/Loss: + 2.1%

Entry on June 27 at $23.40
Listed on June 25, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 1.0 million
New Positions: see below

Comments:
06/27/13: So far so good. EXXI is performing as expected. The stock tried to rally this morning but failed at its 50-dma. The ensuing sell-off pushed EXXI to a -4.4% decline and new relative lows. Our trigger to open bearish positions was hit at $23.40.

Earlier Comments:
If triggered our target is $20.25. However, I do want to point out that it is possible that the April lows near $21.50 could be support so more conservative traders may want to exit near $21.50 instead.

current Position: short EXXI stock @ $23.40

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

Long Jul $24 PUT (EXXI1320S24) entry $1.20



Freeport-McMoRan - FCX - close: 27.30 change: +0.45

Stop Loss: 28.75
Target(s): 25.50
Current Gain/Loss: + 4.3%

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:
06/27/13: FCX is still trying to produce an oversold bounce. Today's rebound was just big enough to erase yesterday's losses. I am not suggesting new positions. Readers may want to tighten their stops closer to the simple 10-dma (currently 28.21).

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

06/26/13 new stop loss @ 28.75
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