Editor's Note:
Shares of AudioCodes Ltd. (AUDC) hit our bullish exit target today.


Current Portfolio:


BULLISH Play Updates

Electronic Arts - EA - close: 27.78 change: +1.12

Stop Loss: 26.25
Target(s): 29.75
Current Gain/Loss: + 2.5%

Entry on August 20 at $27.10
Listed on August 17, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 4.2 million
New Positions: see below

Comments:
08/22/13: Shares of EA got a boost from Gamestop (GME). EA makes the games while GME is a specialty retailer that sells them. This morning GME reported earnings that beat estimates on both the top and bottom line and then management raised their guidance. Shares of GME soared on the news and settled with a +9.0% gain. EA also shot higher and added +4.2% to close at new multi-year highs.

current Position: long EA stock @ $27.10

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

Long Sep $28 call (EA1321i28) $0.55



Halliburton Company - HAL - close: 47.28 change: +0.84

Stop Loss: 46.40
Target(s): 49.85
Current Gain/Loss: + 1.5%

Entry on August 19 at $47.10
Listed on August 17, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 9.0 million
New Positions: Yes, see below

Comments:
08/22/13: Strength in the energy sector helped lift HAL to a new two-year high. We are raising our stop loss to $46.40.

Earlier Comments:
Our target is $49.85. If you have a longer time frame you could aim higher.

current Position: long HAL stock @ $47.10

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

Long Oct $50 call (HAL1319j50) entry $0.69

08/22/13 new stop loss @ 46.40



Ocwen Financial Corp - OCN - close: 50.66 change: +0.20

Stop Loss: 49.75
Target(s): 55.00
Current Gain/Loss: - 0.2%

Entry on August 08 at $50.76
Listed on August 07, 2013
Time Frame: 4 to 8 weeks
Average Daily Volume = 1.8 million
New Positions: see below

Comments:
08/22/13: OCN tried to rally this morning but shares pared their gains. I remain cautious here. I am not suggesting new positions at this time.

Earlier Comments:
Our multi-week target is $55.00. More aggressive traders could aim higher. The Point & Figure chart for OCN is bullish with a $63 target.

current Position: Long OCN stock @ $50.76

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

Long Sep $50 call (OCN1321i50) entry $2.70

08/19/13 new stop loss @ 49.75
08/08/13 traded on gap higher at $50.76. Trigger was $50.70



BEARISH Play Updates

Mellanox Technologies - MLNX - close: 39.93 change: +0.84

Stop Loss: 41.00
Target(s): 35.25
Current Gain/Loss: - 1.1%

Entry on August 21 at $39.50
Listed on August 20, 2013
Time Frame: 3 to 6 weeks
Average Daily Volume = 713 thousand
New Positions: see below

Comments:
08/22/13: The first couple of hours of trading today saw MLNX bounced back toward the $40.00 level. Then the NASDAQ had a three-hour trading outage and halted trades on all NASDAQ-listed stocks. That explains the gap in MLNX's intraday chart. Broken support near $40.00 should be new resistance but it's worth noting that today's session has actually created a bullish engulfing candlestick reversal pattern. That's a warning signal for the bears.

Earlier Comments:
I would keep position small because MLNX does have above average short interest at 15% of the 37.5 million share float. FYI: The Point & Figure chart for MLNX is bearish with a $27.00 target.

current Position: short MLNX stock @ $39.50

08/22/13 warning! MLNX has produced a one-day bullish reversal pattern



Tempur Sealy Intl. - TPX - close: 36.68 change: +0.32

Stop Loss: 38.05
Target(s): 31.00
Current Gain/Loss: unopened

Entry on August -- at $--.--
Listed on August 21, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 1.7 million
New Positions: Yes, see below

Comments:
08/22/13: Thursday delivered a relatively quiet session of TPX. Shares traded inside of Wednesday's range. We're waiting for a breakdown below support.

Earlier Comments:
I am suggesting a trigger to open bearish positions at $35.75. If triggered our target is $31.00.

NOTE: Investors might want to limit their position size. The most recent data listed short interest at 16% of the relatively small 45.7 million share float. Meanwhile more aggressive traders may want to aim lower since the point & figure chart is forecasting at $26 target.

Trigger @ 35.75

Suggested Position: short TPX stock @ (trigger)

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

Buy the 2014 Jan $30 PUT (TPX1418m30)



CLOSED BULLISH PLAYS

AudioCodes Ltd. - AUDC - close: 6.35 change: +0.25

Stop Loss: 5.70
Target(s): 6.35
Current Gain/Loss: +12.0%

Entry on August 16 at $ 5.67
Listed on August 15, 2013
Time Frame: 4 to 8 weeks
Average Daily Volume = 229 thousand
New Positions: see below

Comments:
08/22/13: Target achieved.

AUDC has delivered an impressive performance. Shares are up +27% in just the last two weeks. We were able to catch about +12% of that move. AUDC hit our suggested target at $6.35 today.

closed Position: Long AUDC stock @ $5.67 exit $6.35 (+12.0%)

08/22/13 target hit
08/21/13 new stop loss @ 5.70
08/20/13 new stop loss @ 5.45, adjust target to $6.35
08/19/13 new stop loss @ 5.35
08/16/13 trade opened on gap higher at $5.67. Trigger was $5.65

chart: