Editor's Note:
Shares of L Brands, Inc. (LTD), formerly known as Limited Brands, Inc., hit our bullish target on Friday.

FLIR hit our entry trigger. Both BRCM and XXIA have been removed.


Current Portfolio:


BULLISH Play Updates

Best Buy Co. - BBY - close: 31.30 change: +0.59

Stop Loss: 29.75
Target(s): 33.50
Current Gain/Loss: + 3.0%

Entry on August 01 at $30.40
Listed on July 25, 2013
Time Frame: exit PRIOR to earnings in late August
Average Daily Volume = 4.9 million
New Positions: Yes, see below

Comments:
08/03/13: It looks like our patience to wait for a BBY breakout is going to pay off. Traders quickly bought the dip on Friday morning near support at $30.00 and shares rebounded to a new 52-week high.

Earlier Comments:
We do not want to hold over the late August earnings report.

current Position: Long the stock @ $30.40

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

Long Sep $32 call (BBY1321i32) entry $1.20

08/01/13 new stop loss @ 29.75

chart:



FLIR Systems - FLIR - close: 33.75 change: +0.93

Stop Loss: 31.95
Target(s): 36.00
Current Gain/Loss: + 2.1%

Entry on August 02 at $33.05
Listed on August 01, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 1.2 million
New Positions: see below

Comments:
08/03/13: Our new play on FLIR is off to a good start. Shares surged to a +2.8% gain after breaking out from its coiling pattern. Our trigger to launch bullish positions was hit at $33.05.

current Position: Long FLIR stock @ $33.05

chart:



The Gap, Inc. - GPS - close: 46.48 change: +0.16

Stop Loss: 45.49
Target(s): 49.50
Current Gain/Loss: + 1.6%

Entry on July 29 at $45.75
Listed on July 27, 2013
Time Frame: exit PRIOR to earnings in late August
Average Daily Volume = 2.5 million
New Positions: see below

Comments:
08/03/13: Investors bought the dip in GPS on Friday morning near $46.00. The stock rebounded to close at a new multi-year high. I am not suggesting new positions at this time.

We will plan to exit prior to GPS' earnings report in late August.

current Position: Long GPS stock @ $45.75

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

Long Sep $45 call (GPS1321i45) entry $2.27

08/01/13 new stop loss @ 45.49
07/30/13 new stop loss @ 44.75

chart:



Rackspace Hosting - RAX - close: 46.10 change: +0.81

Stop Loss: 44.45
Target(s): 49.00
Current Gain/Loss: +2.1%

Entry on July 25 at $45.35
Listed on July 24, 2013
Time Frame: exit PRIOR to earnings on Aug. 8th
Average Daily Volume = 1.9 million
New Positions: see below

Comments:
08/03/13: Friday proved to be a relatively quiet day for RAX. Traders did buy the dip near $45.50 on Friday but gains were mild. The company is due to report earnings on Thursday, August 8th. Shares may start to drift sideways as investors wait for the results. We do not want to hold over the announcement. Therefore we will plan to exit on Tuesday, August 6th at the closing bell assuming RAX has not hit our stop loss or exit target before then.

*small positions*

current Position: Long RAX stock @ $45.35

08/01/13 new stop loss @ 44.45
07/27/13 new stop loss @ 43.85

chart:



BEARISH Play Updates


None. We do not have any active bearish trades.



CLOSED BULLISH PLAYS

Broadcom Corp. - BRCM - close: 26.89 change: -0.74

Stop Loss: 26.49
Target(s): 31.00
Current Gain/Loss: unopened

Entry on July -- at $--.--
Listed on July 30, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 13.1 million
New Positions: see below

Comments:
08/03/13: BRCM is not cooperating. We were expecting a breakout higher past $28.00 but it failed to materialize. On Friday BRCM displayed relative weakness with a -2.6% decline thanks to some bearish analyst comments.

Our play did not open. We are removing BRCM from the newsletter.

Trade did not open.

08/03/13 removed BRCM from the newsletter.

chart:



L Brands, Inc. - LTD - close: 58.40 change: +0.85

Stop Loss: 54.65
Target(s): 58.50
Current Gain/Loss: + 8.6%

Entry on July 29 at $53.85
Listed on July 27, 2013
Time Frame: exit PRIOR to the earnings report on Aug. 21st
Average Daily Volume = 1.7 million
New Positions: see below

Comments:
08/03/13: Target achieved.

The explosive rally in LTD continued and shares hit our exit target at $58.50 on Friday.

*small positions*

closed Position: Long LTD stock @ $53.85 exit $58.50 (+8.6%)

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

Sep $55 call (LTD1321i55) entry $1.45 exit $4.00 (+175.8%)

08/02/13 target hit
08/01/13 new stop loss @ 54.65
07/31/13 new stop loss @ 53.45

chart:



CLOSED BEARISH PLAYS

Ixia - XXIA - close: 15.06 change: +0.45

Stop Loss: 14.65
Target(s): 10.25
Current Gain/Loss: unopened

Entry on July -- at $--.--
Listed on July 31, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 909 thousand
New Positions: see below

Comments:
08/03/13: XXIA is not cooperating. The bullish reversal continued on Friday. Our trade is not open yet so we're removing XXIA as a candidate. The suggested entry trigger was $13.40.

Trade did not open.

08/03/13 removed from the newsletter

chart: