Editor's Note:
The stock market has extended its gains to three weeks in a row and the major indices are hitting new highs.

CFN was triggered on Friday. FRGI and NXST were both closed on Friday morning.


Current Portfolio:


BULLISH Play Updates

CareFusion Corp. - CFN - close: 38.56 change: +0.04

Stop Loss: 37.25
Target(s): 42.50
Current Gain/Loss: - 0.5%

Entry on July 12 at $38.75
Listed on July 11, 2013
Time Frame: 3 to 6 weeks
Average Daily Volume = 1.7 million
New Positions: see below

Comments:
07/13/13: Our new trade on CFN has been triggered. The stock rallied to a new high (38.97), hitting our trigger at $38.75 in the process. Unfortunately CFN gave back nearly all of its gains to close virtually unchanged on the session. The afternoon pullback is worrisome. Traders may want to wait for a new rally past $39.00 before considering bullish positions.

Earlier Comments:
If triggered our target is $42.50 but we will plan on exiting prior to the company's earnings report in early August.

current Position: Long CFN stock @ $38.75

chart:



Engility Holdings - EGL - close: 29.19 change: -0.13

Stop Loss: 28.45
Target(s): 32.50
Current Gain/Loss: + 3.3%

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:
07/13/13: Shares of EGL continue with their slow drift higher. The stock is now up eight out of the last night weeks. It is possible that the $30.00 level could be round-number, psychological resistance. We're not suggesting new positions at this time.

Earlier Comments:
A breakout 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

07/11/13 new stop loss @ 28.45
07/09/13 new stop loss @ 28.25
07/06/13 new stop loss @ 27.85
06/29/13 new stop loss @ 27.45

chart:



iShares Japan Index - EWJ - close: 11.86 change: -0.02

Stop Loss: 11.24
Target(s): 12.40
Current Gain/Loss: + 2.7%

Entry on July 02 at $11.55
Listed on July 01, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 66 million
New Positions: see below

Comments:
07/13/13: The EWJ delivered another up week in spite of a bounce in the Japanese yen. Broken resistance near $11.60 should now be new support. I am raising our stop loss up to $11.24.

current Position: Long EWJ stock @ $11.55

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

Long 2014 Jan $12 call (EWJ1418a12) entry $0.58

07/13/13 new stop loss @ 11.24

chart:



Hospira Inc. - HSP - close: 39.68 change: +0.07

Stop Loss: 38.20
Target(s): 44.00
Current Gain/Loss: -0.5%

Entry on July 11 at $39.89
Listed on July 10, 2013
Time Frame: Exit PRIOR to earnings on July 31st
Average Daily Volume = 1.0 million
New Positions: see below

Comments:
07/13/13: HSP is little changed since we added it to the newsletter on Wednesday night. Shares are hovering just below potential resistance at $40.00 and the top of a bullish channel. That's why we have labeled this an aggressive, higher-risk entry point. Readers may want to wait for a breakout past $40.00 before initiating positions.

Our plan was to keep our position size small to limit risk.

Earlier Comments:
We will plan to exit positions prior to the company's earnings report on July 31st. FYI: The Point & Figure chart for HSP is bullish with a $60 target. NOTE: I am suggesting we keep our position size small since HSP appears to be near the top of a channel. Tonight's play is a more aggressive entry point.

*Small Positions*

current Position: Long HSP stock @ $39.89

07/11/13 trade opened on gap higher at $39.89. Trigger was $39.65

chart:



MetLife, Inc. - MET - close: 49.08 change: +0.52

Stop Loss: 47.25
Target(s): 49.75
Current Gain/Loss: + 6.1%

Entry on July 01 at $46.25
Listed on June 27, 2013
Time Frame: Exit PRIOR to earnings on July 31st
Average Daily Volume = 8.7 million
New Positions: see below

Comments:
07/13/13: After a little bit of profit taking on Thursday MET managed to rebound on Friday. The stock has closed at a new 18-month high. Our target is $49.75 but more conservative traders may want to lock in gains now. I am raising our stop loss up to $47.25.

*small positions*

current Position: Long MET stock @ $46.25

07/13/13 new stop loss @ 47.25
07/10/13 new stop loss @ 46.25
07/09/13 new stop loss @ 45.90, adjust target down to $49.75
07/02/13 new stop loss @ 45.40

chart:



Seagate Tech. - STX - close: 46.68 change: +0.37

Stop Loss: 44.90
Target(s): 49.85
Current Gain/Loss: + 1.4%

Entry on July 08 at $46.05
Listed on July 06, 2013
Time Frame: exit PRIOR to earnings on July 24th
Average Daily Volume = 3.5 million
New Positions: see below

Comments:
07/13/13: Shares of STX continued to inch higher on Friday and closed at a new all-time high. While the trend is moving the right direction I would have expected STX to perform better. Readers may want to wait for a dip before considering new positions. Keep in mind that we only have about ten days left before we plan to exit.

current Position: Long stock @ $46.05

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

Long Aug $47 call (STX1317H47) entry $1.80

07/09/13 new stop loss @ 44.90

chart:



Whole Foods Market - WFM - close: 56.23 change: +0.46

Stop Loss: 52.75
Target(s): 58.00
Current Gain/Loss: + 4.6%

Entry on July 08 at $53.75
Listed on July 06, 2013
Time Frame: exit PRIOR to earnings on July 31st.
Average Daily Volume = 2.2 million
New Positions: see below

Comments:
07/13/13: WFM delivered a big week with shares breaking out from a trading range and surging to new all-time highs. Shares are now up three weeks in a row and you could argue that WFM is short-term overbought here. I would not be surprised to see some profit taking soon.

Tonight I am raising our stop loss to $52.75. I am also adjusting the exit target lower to $58.00. I would not chase it here.

We will plan to exit prior to the earnings report on July 31st. FYI: The Point & Figure chart for WFM is bullish with a $78.00 target.

current Position: Long WFM stock @ $53.75

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

Long Aug $55 call (WFM1317H55) entry $1.60

07/13/13 new stop loss @ 52.75, adjust exit target to $58.00

chart:



BEARISH Play Updates


None. We do not have any active bearish trades.



CLOSED BULLISH PLAYS

Fiesta Restaurant Group. - FRGI - close: 35.42 change: +0.52

Stop Loss: 33.80
Target(s): 39.50
Current Gain/Loss: -1.7%

Entry on July 05 at $35.42
Listed on July 02, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 245 thousand
New Positions: see below

Comments:
07/13/13: FRGI had been underperforming the stock market for several days. We finally decide to abandon ship and exit on Friday morning. Naturally the stock decides to outperform the market on Friday with a +1.48% gain. Our trade closed with FRGI's open on Friday at $34.81.

current Position: Long FRGI stock @ $35.42

07/12/13 planned exit on Friday morning
07/11/13 prepare to exit on Friday morning
07/05/13 trade opened on gap higher at $35.42. Trigger was $35.25.

chart:



Nexstar Broadcasting - NXST - close: 38.38 change: +0.65

Stop Loss: 35.75
Target(s): 39.50
Current Gain/Loss: + 6.4%

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:
07/13/13: Thursday's session looked like a bearish reversal. We decided to try and lock in gains by exiting this trade on Friday morning. NXST opened at $37.80 on Friday and then bounced to a +1.7% gain on the session. Unfortunately, the option opened down on Friday.

The stock looks overbought with a six-week rally. The $40.00 level could be round-number resistance. I would keep NXST on your radar screen and watch it for a correction.

*small positions*

closed Position: Long NXST stock @ $35.53 exit $37.80 (+6.4%)

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

Aug $40 call (NXST1317H40) entry $1.14 exit $1.35 (+18.4%)

07/12/13 planned exit
07/11/13 prepare to exit on Friday morning
07/09/13 new stop loss @ 35.75
07/08/13 new stop loss @ 34.85
07/06/13 new stop loss @ 33.85
06/27/13 triggered on gap higher at $35.53 (trigger was 35.50)

chart: