Editor's Note:
Shares of BlackBerry Ltd. (BBRY) had a big day on Monday with shares outperforming the market. Our BBRY play has been triggered.

We want to exit our RAX trade tomorrow at the close.


Current Portfolio:


BULLISH Play Updates

BlackBerry Limited - BBRY - close: 9.58 change: +0.66

Stop Loss: 8.49
Target(s): 10.90
Current Gain/Loss: +6.3%

Entry on August 05 at $9.01
Listed on August 03, 2013
Time Frame: 6 to 9 weeks
Average Daily Volume = 16.3 million
New Positions: see below

Comments:
08/05/13: It was a big day for shares of BBRY. The stock exploded higher and outperformed most of the market with a +7.3% gain. No one had any good reasons behind the sudden surge in shares. There were rumors that BBRY was rising on news regarding strong Q10 smartphone sales. Another BBRY rumor surfaced about a yet to be launched smartphone appearing on the Internet. Whatever the reason I'm glad we didn't have to wait long for BBRY to hit our entry point.

The stock opened higher at $9.00 and then took off. Our trigger to launch bullish positions was hit at $9.01. I would not be surprised to see BBRY hit some resistance near $10.00 and pullback.

Earlier Comments:
I do consider this a more aggressive, higher risk trade but it definitely has potential if the sellers are finally exhausted. We are suggesting a trigger to open small bullish positions at $9.01. If triggered we'll use a stop below the recent lows. Our six to nine-week target is $10.90 since the $11.00 level should be resistance.

*small positions*

current Position: Long BBRY stock @ $9.01

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

Long 2014 Jan $10 call (BBRY1418a10) entry $0.99



Best Buy Co. - BBY - close: 31.24 change: -0.06

Stop Loss: 29.75
Target(s): 33.50
Current Gain/Loss: + 2.8%

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:
08/05/13: BBY's rally continued until about lunchtime. Shares hit $31.73 midday before reversing and closing in the red. Profit taking was mild. I would not be surprised to see a pullback toward the $30.50-30.00 zone.

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



Delta Airlines - DAL - close: 21.71 change: -0.24

Stop Loss: 21.20
Target(s): 24.50
Current Gain/Loss: unopened

Entry on August -- at $--.--
Listed on August 03, 2013
Time Frame: 4 to 6 weeks
Average Daily Volume = 9.1 million
New Positions: Yes, see below

Comments:
08/05/13: Shares of DAL slowly pulled away from resistance near the $22.00 level. Overall the profit taking was minor. I don't see any changes from my weekend comments.

The high on Thursday was $22.05. I am suggesting a trigger to open bullish positions at $22.15. If triggered our target is $24.50.

DAL will begin trading ex-dividend on August 7th. The quarterly dividend should be six cents.
FYI: The Point & Figure chart for DAL is bullish with a long-term $34.50 target.

Trigger @ 22.15

Suggested Position: buy DAL stock @ (trigger)

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

buy the Sep $22 call (DAL1321i22)



FLIR Systems - FLIR - close: 33.16 change: -0.59

Stop Loss: 31.95
Target(s): 36.00
Current Gain/Loss: + 0.3%

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:
08/05/13: Ouch! While I am not surprised to see some profit taking in FLIR after its big move higher on Friday it's still painful to see shares give back about two-thirds of Friday's gain. Traders could use a bounce from the $33.00 level as a new bullish entry point.

current Position: Long FLIR stock @ $33.05



The Gap, Inc. - GPS - close: 46.28 change: -0.20

Stop Loss: 45.49
Target(s): 49.50
Current Gain/Loss: + 1.2%

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:
08/05/13: Traders were quick to buy the dip in GPS near the $46.00 level on Monday morning. That's the second time in two days $46 has held as support. If GPS were to break $46 the next likely support level is the 10-dma at $45.77. 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



Rackspace Hosting - RAX - close: 46.80 change: +0.50

Stop Loss: 44.45
Target(s): 49.00
Current Gain/Loss: +3.2%

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:
08/05/13: Traders bought the dip in RAX at short-term support near its rising 10-dma again. The stock managed to outperform the major indices with a +1.0% gain.

Currently our plan is to exit on Tuesday (tomorrow) at the closing bell to avoid holding over earnings on Thursday. More aggressive traders may want to hold positions and exit on Wednesday instead.

*small positions*

current Position: Long RAX stock @ $45.35

08/05/13 prepare to exit tomorrow at the close
08/01/13 new stop loss @ 44.45
07/27/13 new stop loss @ 43.85



Texas Instruments - TXN - close: 39.86 change: -0.08

Stop Loss: 38.90
Target(s): 44.50
Current Gain/Loss: unopened

Entry on August -- at $--.--
Listed on August 03, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 8.2 million
New Positions: Yes, see below

Comments:
08/05/13: Shares of TXN spent Monday's session churning sideways in a very narrow range. The stock is still poised to breakout past resistance at $40.00. I don't see any changes from our weekend new play description.

We are suggesting a trigger to launch bullish positions at $40.20. If triggered our multi-week target is $44.50.

Trigger @ $40.20

Suggested Position: buy TXN stock @ (trigger)

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

buy the Sep $40.00 call (TXN1321i40) current ask $1.06



BEARISH Play Updates


None. We do not have any active bearish trades.