Editor's Note:
The NASDAQ composite struggled due to weakness in AAPL shares. Meanwhile the S&P 500 index posted its seventh day of gains in a row.

AIQ was closed this morning. FCX & NVDA were both triggered today.


Current Portfolio:


BULLISH Play Updates

Avago Technologies - AVGO - close: 39.25 change: -0.41

Stop Loss: 38.25
Target(s): 44.50
Current Gain/Loss: unopened

Entry on September -- at $--.--
Listed on September 10, 2013
Time Frame: 9 to 12 weeks
Average Daily Volume = 2.1 million
New Positions: Yes, see below

Comments:
09/11/13: The big drop in Apple (AAPL) shares could have influenced trading in AVGO today since AVGO is an AAPL component supplier. Traders did buy the dip in AVGO at the rising 10-dma, which is encouraging.

Earlier Comments:
I am suggesting a trigger to open bullish positions at $40.25. If triggered our multi-week target is $44.50. More conservative investors might want to wait for AVGO to close above $40.00 before launching bullish positions.

FYI: The Point & Figure chart for AVGO is bullish with a long-term $56.00 target.

Trigger @ 40.25

Suggested Position: buy AVGO stock @ (trigger)

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

Buy the 2014 Jan $40 call (AVGO1418a40)



Freeport-McMoRan Copper & Gold - FCX - close: 32.83 change: +0.90

Stop Loss: 29.95
Target(s): 36.00
Current Gain/Loss: + 1.6%

Entry on September 11 at $32.30
Listed on September 09, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 11.5 million
New Positions: see below

Comments:
09/11/13: It was a good day for FCX bulls. The stock rallied to new relative highs pretty early and hit our entry trigger at $32.30. By the closing bell FCX had outperformed the market with a +2.8% gain.

current Position: Long FCX stock @ $32.30

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

Long 2014 Jan $35 call (FCX1418a35) entry $1.15



MGM Resorts Intl. - MGM - close: 19.10 change: +0.06

Stop Loss: 17.99
Target(s): 19.95
Current Gain/Loss: + 2.1%

Entry on September 09 at $18.70
Listed on September 07, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 7.6 million
New Positions: see below

Comments:
09/11/13: The rally continues in MGM with the stock now up nine out of the last ten sessions. Traders bought the dip intraday but MGM is starting to look a little bit overbought here. Broken resistance near $18.50 should be new support.

current Position: long MGM stock @ $18.70

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

Long Oct $20 call (MGM1319j20) entry $0.38



NVIDIA - NVDA - close: 15.71 change: +0.26

Stop Loss: 14.95
Target(s): 16.90
Current Gain/Loss: + 0.7%

Entry on September 11 at $15.60
Listed on September 10, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 8.4 million
New Positions: see below

Comments:
09/11/13: NVDA displayed relative strength again with a +1.6% gain. The stock outperformed the SOX semiconductor index and the broader market indices. NVDA also rallied past resistance near $15.50 and hit our suggested entry point at $15.60.

Earlier Comments:
Our plan was to use small positions to limit our risk.
FYI: The Point & Figure chart for NVDA is bullish with a long-term $23.00 target.

current Position: long NVDA stock @ $15.60



Constellation Brands Inc. - STZ - close: 58.39 change: +0.15

Stop Loss: 55.75
Target(s): 59.50
Current Gain/Loss: +5.5%

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:
09/11/13: STZ's winning streak has hit seven days in a row with Wednesday's gain. Shares are short-term overbought here. Investors might want to take profits early. I am adjusting our exit target down to $59.50.

Patient investors may want to aim higher.

current Position: Long STZ stock @ $55.35

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

Long Oct $60 call (STZ1319j60) entry $0.70

09/11/13 adjust exit target to $59.50
09/09/13 adjust exit target to $59.75
09/07/13 new stop loss @ 55.75
09/05/13 new stop loss @ 55.25
08/24/13 new stop loss @ 53.75



Skyworks Solutions - SWKS - close: 25.58 change: -0.75

Stop Loss: 24.90
Target(s): 29.85
Current Gain/Loss: - 2.6%

Entry on September 10 at $26.25
Listed on September 09, 2013
Time Frame: 9 to 12 weeks
Average Daily Volume = 2.5 million
New Positions: see below

Comments:
09/11/13: Investor disappointment in AAPL may have colored the action in SWKS today (since SWKS is an AAPL parts supplier). Shares of SWKS underperformed the market with a -2.8% plunge toward its simple 10-dma. Suddenly yesterday's breakout looks like a possible bull-trap pattern. More conservative traders may want to raise their stops. I am not suggesting new positions at this time.

Earlier Comments:
This stock does not move very fast. We may have to adjust our time frame expectations. Our target is $29.85. FYI: The Point & Figure chart for SWKS is bullish with a $36.50 target.

*potentially a multi-month trade*

current Position: Long SWKS stock @ $26.25

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

Long 2014 Jan $30 call (SWKS1418a30) entry $1.00



BEARISH Play Updates

Community Health Systems - CYH - close: 38.77 change: -0.26

Stop Loss: 40.25
Target(s): 35.25
Current Gain/Loss: +0.6%

Entry on September 05 at $39.00
Listed on September 04, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 1.3 million
New Positions: see below

Comments:
09/11/13: Good news! The bounce attempt in CYH today failed at resistance at the descending 10-dma. Traders may want to consider this a new bearish entry point.

current Position: short CYH stock @ $39.00

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

Long Oct $37 PUT (CYH1319v37) entry $0.98

09/09/13 new stop loss @ 40.25



Iron Mountain Inc. - IRM - close: 25.89 change: +0.04

Stop Loss: 26.65
Target(s): 21.00
Current Gain/Loss: unopened

Entry on September -- at $--.--
Listed on September 07, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 1.1 million
New Positions: Yes, see below

Comments:
09/11/13: IRM didn't see a lot of movement today. Shares continue to struggle with resistance at the 10-dma directly overhead.

Earlier Comments:
More aggressive traders may want to open bearish positions now. I am suggesting a trigger to open bearish positions at $25.40. If triggered our multi-week target is $21.00. Please note that I do expect a short-term bounce near the $24 level.

FYI: The Point & Figure chart for IRM is bearish with a $12.00 target.

Trigger @ 25.40

Suggested Position: short IRM stock @ (trigger)

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

buy the Oct $25 PUT (IRM1319v25)



Mellanox Technologies - MLNX - close: 38.17 change: -0.17

Stop Loss: 40.15
Target(s): 35.25
Current Gain/Loss: + 3.4%

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:
09/11/13: MLNX spent today's session hovering on either side of the $38.00 level.

I am not suggesting new positions.

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

09/04/13 new stop loss @ 40.15
08/22/13 warning! MLNX has produced a one-day bullish reversal pattern



CLOSED BULLISH PLAYS

Alliance Healthcare Services - AIQ - close: 23.67 change: -1.14

Stop Loss: 23.90
Target(s): 29.50
Current Gain/Loss: -3.7%

Entry on September 04 at $25.70
Listed on September 03, 2013
Time Frame: 4 to 8 weeks
Average Daily Volume = 120 thousand
New Positions: see below

Comments:
09/11/13: Yesterday we decided that AIQ wasn't cooperating and suggested an exit at the opening bell this morning. It proved to be the right move with shares opening down at $24.74 and then underperforming the market with a -4.59% loss today.

*small positions*

closed Position: Long AIQ stock @ $25.70 exit $24.74 (-3.7%)

09/11/13 planned exit this morning
09/10/13 prepare to exit at the opening bell tomorrow morning
09/09/13 new stop loss @ 23.90. AIQ did not participate in the market rally. It's time to turn defensive.
09/04/13 adjust stop loss down to $23.45

chart: