Editor's Note:
Investors seemed to take a step back today as the market waits for Fed Chairman Bernanke's testimony before congress tomorrow.


Current Portfolio:


BULLISH Play Updates

CareFusion Corp. - CFN - close: 38.61 change: -0.52

Stop Loss: 37.75
Target(s): 42.50
Current Gain/Loss: - 0.4%

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:
07/16/13: The volatility in CFN continues. Today shares essentially erased yesterday's gains. I am not suggesting new positions at this time.

Earlier Comments:
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

07/15/13 new stop loss @ 37.75



Engility Holdings - EGL - close: 29.37 change: -0.28

Stop Loss: 28.75
Target(s): 32.50
Current Gain/Loss: + 4.0%

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:
07/16/13: EGL is ricocheting between support near its rising 10-dma and resistance near $30.00. I am not suggesting new positions.

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

07/15/13 new stop loss @ 28.75
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



iShares Japan Index - EWJ - close: 11.87 change: -0.10

Stop Loss: 11.45
Target(s): 12.40
Current Gain/Loss: + 2.8%

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:
07/16/13: The EWJ erased nearly all of yesterday's gains. This ETF does look short-term overbought. I would not be surprised to see a dip to the 10-dma near $11.67.

NOTE: The top of the gap down from May 22nd at $12.13 could be overhead resistance.

current Position: Long EWJ stock @ $11.55

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

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

07/15/13 new stop loss @ 11.45
07/13/13 new stop loss @ 11.24



Guidewire Software, Inc. - GWRE - close: 44.75 change: -0.72

Stop Loss: 43.90
Target(s): 49.75
Current Gain/Loss: unopened

Entry on July -- at $--.--
Listed on July 15, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 598 thousand
New Positions: Yes, see below

Comments:
07/16/13: GWRE traded to a new all-time high this morning but it wasn't enough to hit our suggested entry trigger. Shares then reversed to dip back toward short-term technical support at the rising 10-dma. I don't see any changes from my prior comments.

Earlier Comments:
We are suggesting a trigger to launch small bullish positions at $45.75. If triggered our target is $49.75. However, we will plan to exit prior to the earnings report expected in early September. FYI: The Point & Figure chart for GWRE is bullish with a $58.00 target.

Trigger @ 45.75

Suggested Position: buy GWRE stock @ (trigger)



Hospira Inc. - HSP - close: 39.23 change: -0.33

Stop Loss: 38.65
Target(s): 44.00
Current Gain/Loss: -1.7%

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:
07/16/13: The slow drift lower in HSP continues although it seemed to accelerate today with a dip to the 10-dma. I am not suggesting new positions at current levels.

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. This is a more aggressive, higher-risk trade.

*Small Positions*

current Position: Long HSP stock @ $39.89

07/15/13 new stop loss @ 38.65
07/11/13 trade opened on gap higher at $39.89. Trigger was $39.65



MetLife, Inc. - MET - close: 48.06 change: -0.48

Stop Loss: 47.75
Target(s): 49.75
Current Gain/Loss: + 3.9%

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:
07/16/13: MET is now down two days in a row and the pullback is cutting into our potential gains. Shares are now testing short-term support near $48.00 and its 10-dma. I am not suggesting new positions.

*small positions*

current Position: Long MET stock @ $46.25

07/15/13 new stop loss @ 47.75
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



R.R. Donnelley & Sons - RRD - close: 14.76 change: +0.15

Stop Loss: 14.35
Target(s): 16.25
Current Gain/Loss: - 0.6%

Entry on July 15 at $14.85
Listed on July 13, 2013
Time Frame: Exit PRIOR to earnings on July 30th
Average Daily Volume = 1.8 million
New Positions: see below

Comments:
07/16/13: RRD managed to outperform the broader market today with a +1.0% gain. Traders bought the dip at short-term support on its 10-dma and erased yesterday's 15-cent loss. I would wait for a new relative high (above $14.87, or even $15.00) before initiating new positions.

Earlier Comments:
We want to keep our position size small to limit our risk. More conservative investors may want to wait for a breakout past the $15.00 mark instead since $15 could be round-number resistance. If we are triggered at $14.85 our target is $16.25. However, we will plan to exit prior to the earnings report on July 30th.

*small positions*

current Position: Long RRD stock @ $14.85

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

Long Aug $15 call (RRD1317H15) entry $0.55



Sinclair Broadcast Group - SBGI - close: 30.16 change: -1.14

Stop Loss: 29.90
Target(s): 36.00
Current Gain/Loss: unopened

Entry on July -- at $--.--
Listed on July 13, 2013
Time Frame: exit PRIOR to earnings on Aug. 7th
Average Daily Volume = 1.5 million
New Positions: Yes, see below

Comments:
07/16/13: SBGI is slipping toward support near $30.00. There is no change from my earlier comments.

Earlier Comments:
SBGI is in the TV broadcasting industry. Right now there appears to be a land rush in this business as companies acquire their rivals. Shares of SBGI hit all-time highs near $32 just a few days ago. After a couple of days of profit taking traders were buying the dip again on Friday. More aggressive traders may want to jump in now. I am suggesting a trigger to launch positions at $32.15. If triggered our target is $36.00 but we will plan to exit prior to the earnings report on Aug. 7th.

Trigger @ 32.15

Suggested Position: buy SBGI stock @ (trigger)



Seagate Tech. - STX - close: 46.56 change: -0.15

Stop Loss: 45.65
Target(s): 49.85
Current Gain/Loss: + 1.1%

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:
07/16/13: The rally in STX failed at the $47.00 level for the second day in a row. I suspect we're going to see STX retesting the $46.00 level and its 10-dma soon. We are raising our stop loss up to $45.65.

current Position: Long stock @ $46.05

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

Long Aug $47 call (STX1317H47) entry $1.80

07/16/13 new stop loss @ 45.65
07/09/13 new stop loss @ 44.90



Whole Foods Market - WFM - close: 56.38 change: -0.29

Stop Loss: 53.75
Target(s): 58.00
Current Gain/Loss: + 4.9%

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:
07/16/13: After a multi-day winning streak the rally in WFM finally paused. Shares dipped to $55.94 this morning but shares pared their losses to close down -0.5%. I am not suggesting new positions at this time.

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

07/15/13 new stop loss @ 53.75
07/13/13 new stop loss @ 52.75, adjust exit target to $58.00



BEARISH Play Updates


None. We do not have any active bearish trades.