Editor's Note:
September's seasonal trend for weakness is not bearing any fruit this year. The U.S. market is actually having a pretty good month so far.

CYH was stopped out on Friday.


Current Portfolio:


BULLISH Play Updates

Avago Technologies - AVGO - close: 38.99 change: +0.04

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:
09/14/13: My enthusiasm for AVGO is waning. The market just delivered one of its best weeks of the year. Yet AVGO has been stuck drifting sideways the last four days. Big picture this stock is still poised for a breakout past major resistance near $40.00. We will hold on to it a while longer. I don't see any changes fro my earlier comments.

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)

chart:



Facebook, Inc. - FB - close: 44.31 change: -0.44

Stop Loss: 42.45
Target(s): 49.50
Current Gain/Loss: - 2.7%

Entry on September 12 at $45.53
Listed on September 11, 2013
Time Frame: 4 to 6 weeks
Average Daily Volume = 61 million
New Positions: see below

Comments:
09/14/13: There has been a storm of headlines over the last 24 hours about Twitter's decision to finally file for an IPO. The financial media has been running in circles as they try to compare Twitter to Facebook and how Twitter wants to avoid the pitfalls of FB's disastrous IPO experience. There has been some suggesting that investors might be tempted to sell their FB shares and use the cash to participate in the Twitter IPO. That's just speculation at this point and Twitter's debut is probably months away.

Since we're on the topic of FB's IPO, the stock has been having trouble breaking out and staying above its IPO-session high of $45.00. Shares of FB did find some short-term support near $44.00 on Friday. Nimble traders might want to try and buy calls on a dip or a bounce near the rising 10-dma (currently near $43.35). I am suggesting traders wait for a new rise past $45.00 before considering new positions.

Earlier Comments:
I do consider this an aggressive, higher-risk trade because FB can be somewhat volatile and is already overbought. If you trade this stock I am suggesting investors keep their position size small to limit their risk.

*small positions*

current Position: long FB stock @ $45.53

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

Long Oct $48 call (FB1319j48) entry $1.46

09/12/13 trade opened on gap higher at $45.53. Trigger was $45.25.

chart:



Freeport-McMoRan Copper & Gold - FCX - close: 33.04 change: -0.11

Stop Loss: 29.95
Target(s): 36.00
Current Gain/Loss: + 2.3%

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:
09/14/13: Gold and copper prices have actually been trending lower this past week. Gold had one of its worst weeks since June. Yet FCX produced a bullish move higher with a breakout past resistance near $32.00 and its simple and exponential 200-dma(s) a few days ago. Friday saw the rally stall near its May highs. I would not be surprised to see FCX pullback a little bit. Wait for a dip before considering new bullish positions.

current Position: Long FCX stock @ $32.30

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

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

chart:



MGM Resorts Intl. - MGM - close: 19.29 change: +0.42

Stop Loss: 17.99
Target(s): 19.95
Current Gain/Loss: + 3.2%

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:
09/14/13: Thankfully there was no follow through on MGM's bearish reversal pattern on Thursday. Instead the stock outperformed the market with a +2.2% gain on Friday thanks to a new "buy" upgrade and a $23 price target. More conservative traders may want to start moving their stop closer to the $18.40-18.50 area.

current Position: long MGM stock @ $18.70

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

Long Oct $20 call (MGM1319j20) entry $0.38

chart:



NVIDIA - NVDA - close: 15.80 change: +0.10

Stop Loss: 14.95
Target(s): 16.90
Current Gain/Loss: + 1.3%

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:
09/14/13: NVDA displayed some relative strength on Friday. Traders bought the dip Friday morning and the stock ended the session up +0.6%. The lack of profit taking after such a strong week is encouraging. More conservative traders may want to start raising their stop loss.

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

chart:



PerkinElmer Inc. - PKI - close: 37.69 change: +0.18

Stop Loss: 36.49
Target(s): 42.50
Current Gain/Loss: unopened

Entry on September -- at $--.--
Listed on September 12, 2013
Time Frame: 6 to 9 weeks
Average Daily Volume = 784 thousand
New Positions: Yes, see below

Comments:
09/14/13: PKI spent Friday's session slowly drifting higher. Shares remain just below resistance at the $38.00 level. I don't see any changes from our Thursday night new play comments (reposted below).

Earlier Comments:
The bullish reaction to PKI's earnings pushed shares above resistance near $36.00. Since that time PKI has been consolidating sideways in the $36-38 zone. Shares were on the verge of a breakout until the market's widespread decline today. I am suggesting a trigger to open bullish positions at $38.15. If triggered our target is $42.50. Our time frame is several weeks.
FYI: The Point & Figure chart for PKI is bullish with a $46.50 target.

Trigger @ 38.15

Suggested Position: buy PKI stock @ (trigger)

chart:



Constellation Brands Inc. - STZ - close: 58.70 change: +0.66

Stop Loss: 56.85
Target(s): 59.50
Current Gain/Loss: +6.1%

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:
09/14/13: The rally in STZ restarted on Friday afternoon and shares outperformed the market with a +1.1% gain. This is another new all-time closing high. STZ is only 70 cents away from our exit target at $59.50. More aggressive investors may want to aim higher. I am raising our stop loss up to $56.85.

Traders may want to exit their October $60 calls now to lock in gains.

current Position: Long STZ stock @ $55.35

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

Long Oct $60 call (STZ1319j60) entry $0.70

09/14/13 new stop loss @ 56.85
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

chart:



Skyworks Solutions - SWKS - close: 25.27 change: -0.13

Stop Loss: 24.90
Target(s): 29.85
Current Gain/Loss: - 3.7%

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:
09/14/13: It was not a good week for SWKS. Tuesday's breakout above resistance proved to be a false breakout (bull trap pattern). Shares have underperformed the market the last three days. Now SWKS is about to test what should be support near $25.00. More conservative investors may want to just call it quits now and exit early. I am not suggesting new positions.

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

09/14/13 SWKS continues to sink, down three days in a row. More conservative investors may want to abandon ship now.

chart:



BEARISH Play Updates

Mellanox Technologies - MLNX - close: 37.92 change: +0.06

Stop Loss: 39.25
Target(s): 35.25
Current Gain/Loss: + 4.0%

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:
09/14/13: Friday turned out to be a relatively quiet session for MLNX. Traders continue to sell the morning attempts at a rally. Shares closed virtually unchanged on Friday. The overall trend is still down but momentum lower seems have stalled a bit. I am lowering our stop loss down to $39.25.

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

09/14/13 new stop loss @ 39.25
09/04/13 new stop loss @ 40.15
08/22/13 warning! MLNX has produced a one-day bullish reversal pattern

chart:



CLOSED BEARISH PLAYS

Community Health Systems - CYH - close: 40.32 change: +1.76

Stop Loss: 40.25
Target(s): 35.25
Current Gain/Loss: -3.2%

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:
09/14/13: Ouch! What happened to CYH on Friday? The stock shot higher at the open but paused below resistance near $40.00. Then after paring its gains the stock surged higher again in the last couple of hours on Friday and broke through resistance and hit our stop loss at $40.25. I didn't see any specific headlines to account for this sudden reversal higher in CYH.

closed Position: short CYH stock @ $39.00 exit $40.25 (-3.2%)

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

Oct $37 PUT (CYH1319v37) entry $0.98 exit $0.50 (-48.9%)

09/13/13 stopped out
09/09/13 new stop loss @ 40.25

chart: