Editor's Note:
The stock market's major indices look like they might be losing momentum. The S&P 500 index almost hit 1700 before paring its gains. The NASDAQ composite and Russell 2000 index also posted minor declines.

FLO, GWRE, and BVN have all been removed.
We want to exit HSP tomorrow morning.
FRGI was triggered today.


Current Portfolio:


BULLISH Play Updates

CareFusion Corp. - CFN - close: 38.77 change: -0.11

Stop Loss: 37.75
Target(s): 42.50
Current Gain/Loss: + 0.1%

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:
07/23/13: CFN is not making any progress. Shares struggled with the $39.00 level all day. Traders might want to adjust their stop loss closer to yesterday's low (38.32). 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



Celldex Therapeutics - CLDX - close: 20.50 change: -0.92

Stop Loss: 20.45
Target(s): 24.85
Current Gain/Loss: unopened

Entry on July -- at $--.--
Listed on July 20, 2013
Time Frame: exit PRIOR to earnings in early August
Average Daily Volume = 2.6 million
New Positions: Yes, see below

Comments:
07/23/13: Ouch! Biotech stocks underperformed today. CLDX was hit harder than most with a -4.29% decline. Currently we are still on the sidelines. The plan is to open bullish positions if shares hit $22.15. If this sell-off continues we will likely drop it as a candidate.

If CLDX hits the newsletter's trigger at $22.15 our target is $24.85. However, we will plan to exit prior to the company's earnings report in mid August.

Trigger @ 22.15 *small positions*

Suggested Position: buy CLDX stock @ (trigger)



iShares Japan Index - EWJ - close: 11.97 change: -0.01

Stop Loss: 11.85
Target(s): 12.40
Current Gain/Loss: + 3.6%

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:
07/23/13: The early morning gains faded. The EWJ will likely test short-term technical support at its 10-dma soon. If this moving average fails it could signal a drop back toward the $11.50 area. We are adjusting our stop loss higher again, this time to $11.85.

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

07/23/13 new stop loss @ 11.85
07/22/13 new stop loss @ 11.74
07/17/13 new stop loss @ 11.55
07/15/13 new stop loss @ 11.45
07/13/13 new stop loss @ 11.24



Hospira Inc. - HSP - close: 39.49 change: -0.30

Stop Loss: 38.95
Target(s): 44.00
Current Gain/Loss: -1.0%

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:
07/23/13: It looks like HSP is failing at round-number resistance near $40.00 again. We want to abandon ship immediately and exit this trade tomorrow morning.

Earlier Comments:
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

07/23/13 prepare to exit tomorrow morning
07/18/13 new stop loss @ 38.95
07/17/13 new stop loss @ 38.85
07/15/13 new stop loss @ 38.65
07/11/13 trade opened on gap higher at $39.89. Trigger was $39.65



R.R. Donnelley & Sons - RRD - close: 15.58 change: +0.11

Stop Loss: 14.90
Target(s): 16.25
Current Gain/Loss: + 4.9%

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:
07/23/13: Traders bought the dip midday and RRD rebounded to close up +0.6%. This relative strength is encouraging but if the market rolls over RRD will likely follow suit. More conservative traders may want to take profits now. I am inching our stop loss up to $14.90.

We only have a few trading days left. The plan is to exit prior to the earnings report on July 30th.

Earlier Comments:
We want to keep our position size small to limit our risk.

*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

07/23/13 new stop loss @ 14.90
07/22/13 new stop loss @ 14.80
07/18/13 new stop loss @ 14.49



Santarus, Inc. - SNTS - close: 24.40 change: -0.48

Stop Loss: 23.95
Target(s): 28.50
Current Gain/Loss: -3.2%

Entry on July 22 at $25.20
Listed on July 20, 2013
Time Frame: exit PRIOR to earnings in early August
Average Daily Volume = 1.4 million
New Positions: see below

Comments:
07/23/13: Biotech stocks hit some profit taking today. SNTS was no exception with a -1.9% pullback. Shares are testing short-term support near $24.00. If this level fails then the stock should quickly hit our stop loss at $23.95.

Earlier Comments:
Our target is $28.50 but we will plan on exiting positions prior to the company's earnings report in early to mid August (no date yet).
FYI: The Point & Figure chart for SNTS is bullish with a long-term $36.00 target.

current Position: Long SNTS stock @ $25.20



BEARISH Play Updates

Fiesta Restaurant Group - FRGI - close: 32.64 change: -0.69

Stop Loss: 34.05
Target(s): 30.15
Current Gain/Loss: + 0.8%

Entry on July 23 at $32.90
Listed on July 20, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 213 thousand
New Positions: see below

Comments:
07/23/13: So far so good. FRGI continues to slip lower as expected. The stock hit our suggested entry point for bearish positions at $32.90. I would still consider new bearish positions now.

current Position: short FRGI stock @ $32.90



CLOSED BULLISH PLAYS

Flowers Foods, Inc. - FLO - close: 23.30 change: -0.24

Stop Loss: 22.99
Target(s): 26.50
Current Gain/Loss: unopened

Entry on July -- at $--.--
Listed on July 17, 2013
Time Frame: exit PRIOR to earnings in mid-August
Average Daily Volume = 923 thousand
New Positions: Yes, see below

Comments:
07/23/13: FLO is not cooperating. The stock has been down since we've added to the play list. Our trade has not opened yet (trigger @ 24.30). Given the stock's recent weakness we are removing it as a candidate.

Trade did not open.

07/23/13 removed from the newsletter.
07/18/13 move the suggested entry trigger to $24.30 from $24.25
FLO almost hit our initial target at $24.25 but missed it by a penny.

chart:



Guidewire Software, Inc. - GWRE - close: 44.32 change: -0.31

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:
07/23/13: GWRE is not cooperating either. We've been waiting for a breakout but shares just drift sideways. Our trade has not opened yet so we are removing GWRE as a candidate.

Trade did not open.

07/23/13 removed from the newsletter

chart:



CLOSED BEARISH PLAYS

Compa - BVN - close: 15.20 change: +1.02

Stop Loss: 14.41
Target(s): 10.25
Current Gain/Loss: unopened

Entry on July -- at $--.--
Listed on July 18, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 2.3 million
New Positions: see below

Comments:
07/23/13: The rebound in gold, silver and copper is fueling a bounce in the mining stocks. BVN outperformed today with a +7.1% gain. Shares are unlikely to hit our suggested entry point at $13.25 any time soon. We are removing BVN as a candidate.

Trade did not open.

07/23/13 removed from the newsletter

chart: