Editor's Note:
Shares of Constellation Brands (STZ) hit our bullish exit target today.

FB has been stopped out. LGF, PKI, and TTC hit our entry triggers. We want to exit our SWKS trade at the open tomorrow morning.


Current Portfolio:


BULLISH Play Updates

Avago Technologies - AVGO - close: 39.28 change: +0.29

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:
09/16/13: AVGO displayed some relative strength today with a +0.74% gain. Yet shares remain stuck below resistance at the $40.00 level.

Do not be surprised to see AVGO drop tomorrow morning. The stock is set to go ex-dividend on September 17th. The quarterly cash dividend should be 23 cents.

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)



Freeport-McMoRan Copper & Gold - FCX - close: 33.25 change: +0.21

Stop Loss: 29.95
Target(s): 36.00
Current Gain/Loss: + 2.9%

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:
09/16/13: FCX's +0.6% gain on Monday was enough to outperform the S&P 500. The intraday chart would suggest new short-term resistance near $33.50.

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



Lions Gate Entertainment - LGF - close: 37.45 change: +0.51

Stop Loss: 34.90
Target(s): 39.90 & 42.50
Current Gain/Loss: + 0.1%

Entry on September 16 at $37.41
Listed on September 14, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 1.1 million
New Positions: see below

Comments:
09/16/13: Our brand new play on LGF has been opened. Unfortunately the market's gap higher this morning also produced a gap higher in LGF and shares opened above our suggested entry point. The plan was to go long at $37.20 but LGF opened at $37.41 this morning. I suspect LGF will dip back toward $37.00 and then bounce again. Traders could wait for that dip near $37 as an alternative entry point.

Earlier Comments:
I am setting our first target at $39.90. Our second, more aggressive target is $42.50.

current Position: long LGF stock @ $37.41

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

Long 2014 Jan $40 call (LGF1418a40) entry $1.75

09/16/13 trade opened on gap higher at $37.41
suggested trigger was $37.20.



MGM Resorts Intl. - MGM - close: 19.30 change: +0.01

Stop Loss: 18.65
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:
09/16/13: MGM saw a strong gap open higher this morning but the rally reversed at $19.80. That was only 15 cents away from our suggested exit at $19.95. MGM gave back all of its gains to close almost unchanged on the session. More conservative traders might want to just take profits now and exit early. I am moving our stop loss to $18.65.

current Position: long MGM stock @ $18.70

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

Long Oct $20 call (MGM1319j20) entry $0.38

09/16/13 new stop loss @ 18.65



NVIDIA - NVDA - close: 15.81 change: +0.01

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:
09/16/13: NVDA gave back all of its intraday gains to close virtually unchanged on Monday. I am concerned that NVDA looks short-term overbought and due for a dip. 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



PerkinElmer Inc. - PKI - close: 37.94 change: +0.25

Stop Loss: 36.49
Target(s): 42.50
Current Gain/Loss: - 0.6%

Entry on September 16 at $38.15
Listed on September 12, 2013
Time Frame: 6 to 9 weeks
Average Daily Volume = 784 thousand
New Positions: see below

Comments:
09/16/13: PKI hit new multi-year highs above $38.00 before trimming its gains today. Our suggested trigger to launch positions was hit at $38.15. 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.

current Position: Long PKI stock @ $38.15



Skyworks Solutions - SWKS - close: 25.31 change: +0.04

Stop Loss: 24.90
Target(s): 29.85
Current Gain/Loss: - 3.6%

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:
09/16/13: SWKS' attempt to rally this morning failed near its simple 10-dma. The stock has not been cooperating and we're throwing in the towel. I am suggesting an early exit at the opening bell tomorrow morning.

*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

09/16/13 prepare to exit tomorrow at the opening bell
09/14/13 SWKS continues to sink, down three days in a row. More conservative investors may want to abandon ship now.



Toro Co. - TTC - close: 54.62 change: -0.32

Stop Loss: 53.40
Target(s): 59.50
Current Gain/Loss: - 1.1%

Entry on September 16 at $55.20
Listed on September 14, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 235 thousand
New Positions: see below

Comments:
09/16/13: Our new play on TTC has been opened. The plan was to go long at $55.15 but TTC opened at $55.20 this morning. The rally didn't last very long before TTC turned negative. Technically today's session looks like a bearish engulfing candlestick pattern but it needs to see confirmation first.

Broken resistance near $54.00 has been new short-term support. Nimble traders could try and launch new positions on a dip near $54.00 as an alternative entry point.
FYI: The Point & Figure chart for TTC is bullish with a long-term $72.00 target.

current Position: long TTC stock @ $55.20

09/16/13 trade opened on gap higher at $55.20
suggested trigger was $55.15



BEARISH Play Updates

Mellanox Technologies - MLNX - close: 37.53 change: -0.39

Stop Loss: 39.25
Target(s): 35.25
Current Gain/Loss: + 5.0%

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:
09/16/13: Traders continue to sell the pattern of early morning spikes in MLNX. The stock slipped another -1.0% and looks poised to hit new relative lows soon.

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



CLOSED BULLISH PLAYS

Facebook, Inc. - FB - close: 42.51 change: -1.80

Stop Loss: 42.45
Target(s): 49.50
Current Gain/Loss: - 6.8%

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:
09/16/13: Our FB trade did not pan out. We were triggered on the breakout above resistance at $45.00 but the stock was never successful in truly closing above that key level (except for its $45.04 close on Sept. 11th).

Shares underperformed the market today with a -4.0% plunge and a breakdown below short-term support near $43.00 and its 10-dma. Our stop loss was hit at $42.45.

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*

closed Position: long FB stock @ $45.53 exit $42.45 (-6.8%)

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

Oct $48 call (FB1319j48) entry $1.46 exit $0.52 (-64.3%)

09/16/13 stopped out
09/12/13 trade opened on gap higher at $45.53. Trigger was $45.25.

chart:



Constellation Brands Inc. - STZ - close: 58.82 change: +0.12

Stop Loss: 56.85
Target(s): 59.50
Current Gain/Loss: +7.5%

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:
09/16/13: Target achieved.

The market's pop this morning pushed STZ to a new high and shares hit our suggested exit target at $59.50. We remain longer-term bullish on STZ and I would keep it on your watch list for a correction as a potential entry point to jump in again.

closed Position: Long STZ stock @ $55.35 exit $59.50 (+7.5%)

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

Oct $60 call (STZ1319j60) entry $0.70 exit $1.55 (+121.4%)

09/16/13 target hit
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: