Editor's Note:
The market bounce is already showing weakness with a sharp drop late Monday afternoon.

BBRY and JCOM have been triggered.


Current Portfolio:


BULLISH Play Updates

BlackBerry Limited - BBRY - close: 10.42 change: +0.08

Stop Loss: 9.95
Target(s): 12.40
Current Gain/Loss: - 0.3%

Entry on August 26 at $10.45
Listed on August 24, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 29.5 million
New Positions: see below

Comments:
08/26/13: BBRY rallied past short-term resistance this morning. The stock may have gotten a boost from news that its Q10 smartphone will be available on the Sprint network soon. BBRY hit our suggested entry point at $10.45.

Earlier Comments:
More conservative traders might want to wait for BBRY to trade above its August 20th high of $10.54 or above its simple 50-dma (currently $10.56) before initiating positions.

If the newsletter is triggered at $10.45 we will aim for the $12.40 level. This is a multi-week, potentially multi-month trade.

current Position: long BBRY stock @ $10.45

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

Long 2014 Jan $12 call (BBRY1418a12) entry $0.94



Electronic Arts - EA - close: 27.86 change: -0.11

Stop Loss: 26.90
Target(s): 29.75
Current Gain/Loss: + 2.8%

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:
08/26/13: Hmm... EA's rally stalled today. If you look at the intraday chart EA looks poised to move lower. Broken resistance near $27.00 should be new support. I am not suggesting new positions at this time.

current Position: long EA stock @ $27.10

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

Long Sep $28 call (EA1321i28) $0.55

08/24/13 new stop loss @ 26.90



Halliburton Company - HAL - close: 48.44 change: -0.27

Stop Loss: 46.99
Target(s): 49.85
Current Gain/Loss: + 2.8%

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:
08/26/13: Bullish analyst comments helped fuel a rise to $49.37 in shares of HAL this morning. The stock eventually erased all of its Monday gains to close negative. The intraday pullback makes this feel like a short-term top. Do not be surprised to see HAL retrace back down toward its simple 10-dma (near 47.30).

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

08/24/13 new stop loss @ 46.99
08/22/13 new stop loss @ 46.40



J2 Global, Inc. - JCOM - close: 51.50 change: +0.78

Stop Loss: 49.40
Target(s): 57.50
Current Gain/Loss: + 1.0%

Entry on August 26 at $51.00
Listed on August 24, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 339 thousand
New Positions: see below

Comments:
08/26/13: Our new play on JCOM is off to a good start. Shares ignored the market's widespread decline this afternoon. Instead JCOM actually closed near its high for the session. Our suggested entry point to launch bullish positions was hit this morning at $51.00.

Earlier Comments:
If JCOM resumes its up trend the stock should see some short covering. The most recent data listed short interest at 35% of the 41.6 million share float.

current Position: long JCOM stock @ $51.00



Ocwen Financial Corp - OCN - close: 52.06 change: +1.09

Stop Loss: 49.85
Target(s): 55.00
Current Gain/Loss: + 2.6%

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:
08/26/13: Monday was a good day for OCN bulls. I cautioned readers over the weekend that OCN was at a turning point and should see a move soon. It looks like the move is higher with today's display of relative strength (+2.1%) and a new high.

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

08/24/13 new stop loss @ 49.85
08/19/13 new stop loss @ 49.75
08/08/13 traded on gap higher at $50.76. Trigger was $50.70



Constellation Brands Inc. - STZ - close: 55.69 change: -0.17

Stop Loss: 53.75
Target(s): 60.00
Current Gain/Loss: +0.6%

Entry on August 23 at $55.35
Listed on August 22, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 1.3 million
New Positions: see below

Comments:
08/26/13: STZ delivered a quiet session on Monday. The stock drifted sideways below the $56.00 level. If you missed the entry you could look for a dip back toward $55.00 as an alternative entry point.

current Position: Long STZ stock @ $55.35

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

Long Oct $60 call (STZ1319j60) entry $0.70

08/24/13 new stop loss @ 53.75



BEARISH Play Updates

Darden Restaurants - DRI - close: 46.93 change: -0.08

Stop Loss: 48.25
Target(s): 44.25
Current Gain/Loss: +0.5%

Entry on August 26 at $47.16
Listed on August 24, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 1.2 million
New Positions: see below

Comments:
08/26/13: The early morning rally attempt in DRI failed near its short-term trend of lower highs. Our trade opened this morning with DRI gapping higher at $47.16. I would still consider new bearish positions now at current levels. (note: we were lucky with the October $45 put gapping down at the open).

current Position: short DRI stock @ $47.16

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

Long Oct $45 PUT (DRI1319v45) entry $0.90



Mellanox Technologies - MLNX - close: 40.23 change: +0.46

Stop Loss: 41.00
Target(s): 35.25
Current Gain/Loss: - 1.8%

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:
08/26/13: Hmm.... traders may want to consider an early exit from our MLNX trade. The stock is not cooperating. Shares outperformed the market with a +1.1% gain today. The close above $40.00 is potentially bullish but it is worth noting that the intermediate trend is still down and MLNX remains below its 10-dma.

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