Editor's Note:
The U.S. market's major indices bounced on Wednesday. Yet the S&P 500 index struggled with resistance near 1640 and the Russell 2000 failed near 1020 intraday.

BBRY and EA were both stopped out this morning.


Current Portfolio:


BULLISH Play Updates

Halliburton Company - HAL - close: 48.90 change: +0.77

Stop Loss: 46.99
Target(s): 49.85
Current Gain/Loss: + 3.8%

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: see below

Comments:
08/28/13: Heightened worries over the Syrian conflict is pushing oil higher and that's giving the energy stocks a boost. HAL outperformed the market with a +1.59% gain today. We can look for short-term support at the 10-dma (near 47.65) or the 20-dma (near 46.92).

NOTE: Our Oct.$50 call has almost doubled in value.

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: 50.08 change: -0.27

Stop Loss: 49.40
Target(s): 57.50
Current Gain/Loss: - 1.8%

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:
08/28/13: It was a quiet session for JCOM. Shares underperformed the market with a -0.5% decline. The stock spent most of Wednesday's session hovering just above round-number support at the $50.00 level. More conservative traders might want to tighten their stop closer to the $50 mark.

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



Constellation Brands Inc. - STZ - close: 54.59 change: -0.41

Stop Loss: 53.75
Target(s): 60.00
Current Gain/Loss: -1.4%

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:
08/28/13: STZ gapped down at the open but traders bought the dip near its rising 20-dma. Traders may want to wait for STZ to trade back above the $55.00 level again before considering new bullish positions.

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



Waste Connections - WCN - close: 43.33 change: +0.05

Stop Loss: 42.99
Target(s): 48.00
Current Gain/Loss: unopened

Entry on August -- at $--.--
Listed on August 26, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 336 thousand
New Positions: Yes, see below

Comments:
08/28/13: The rising 40-dma has been support for WCN the last several weeks. The stock briefly traded below this level before recovering. If the trend continues WCN should rebound soon. I don't see any changes from my earlier comments.

We are suggesting a trigger to open bullish positions at $44.25. If triggered our multi-week target is $48.00.

Trigger @ 44.25

Suggested Position: buy WCN stock @ (trigger)



BEARISH Play Updates

Darden Restaurants - DRI - close: 46.36 change: -0.10

Stop Loss: 48.25
Target(s): 44.25
Current Gain/Loss: +1.7%

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:
08/28/13: DRI's late morning rally failed and the stock posted another decline (-0.2%). I am not suggesting new positions at current levels. We can look for potential resistance at the simple 10-dma, currently near $47.20.

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: 37.84 change: -0.26

Stop Loss: 41.00
Target(s): 35.25
Current Gain/Loss: + 4.2%

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:
08/28/13: The slide in MLNX shares continued on Wednesday with a -0.6% drop. We are not suggesting new positions at this time.

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



Meritage Homes Corp. - MTH - close: 39.10 change: -0.19

Stop Loss: 40.25
Target(s): 35.25
Current Gain/Loss: unopened

Entry on August -- at $--.--
Listed on August 27, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 691 thousand
New Positions: Yes, see below

Comments:
08/28/13: MTH posted another decline (-0.4%) but failed to breakdown below short-term support near $38.50. There is no change from my Tuesday night new play comments.

We are suggesting a trigger to launch bearish positions at $38.40. If triggered our multi-week target is $35.25. FYI: The Point & Figure chart for MTH is bearish with a $31.00 target.

Trigger @ 38.40

Suggested Position: short MTH stock @ (trigger)

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

Buy the Oct $35 PUT (MTH1319v35) current ask $1.05



CLOSED BULLISH PLAYS

BlackBerry Limited - BBRY - close: 10.30 change: +0.27

Stop Loss: 9.95
Target(s): 12.40
Current Gain/Loss: - 4.8%

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:
08/28/13: BBRY displayed a lot of volatility today, especially this morning. Within the first minute of trading BBRY began trading very erratically with several 40-cent swings and multiple trades below the $9.50 level. Our stop loss was hit at $9.95 right after the opening trade at $10.00.

BBRY did rebound later in the day and actually outperformed the market. That might be due to rumors that Lenovo might try to acquire BBRY.

closed Position: long BBRY stock @ $10.45 exit $9.95 (-4.8%)

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

2014 Jan $12 call (BBRY1418a12) entry $0.94 exit $0.82 (-12.7%)

08/28/13 stopped out at 9.95 on a very volatile morning

chart:



Electronic Arts - EA - close: 27.13 change: +0.14

Stop Loss: 26.90
Target(s): 29.75
Current Gain/Loss: - 0.9%

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:
08/28/13: EA also displayed weakness this morning. Shares traded below support near $27.00. The stock actually gapped open lower at $26.86, which was below our suggested stop loss at $26.90. Our play was closed immediately.

closed Position: long EA stock @ $27.10 exit $26.86 (-0.9%)

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

Sep $28 call (EA1321i28) $0.55 exit $0.34 (-38.1%)

08/28/13 stopped out
08/24/13 new stop loss @ 26.90

chart: