Editor's Note:
The stock market surged on the surprise announcement that the Federal Reserve will not taper its QE program (yet).

AXLL hit our entry trigger.


Current Portfolio:


BULLISH Play Updates

Avago Technologies - AVGO - close: 40.67 change: +0.55

Stop Loss: 38.25
Target(s): 44.50
Current Gain/Loss: + 1.0%

Entry on September 17 at $40.25
Listed on September 10, 2013
Time Frame: 9 to 12 weeks
Average Daily Volume = 2.1 million
New Positions: see below

Comments:
09/18/13: The widespread market rally helped lift AVGO to a +1.3% gain and another new all-time high. If you're looking for an entry point consider waiting for a dip near $40.00.

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

current Position: long AVGO stock @ $40.25

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

Long 2014 Jan $40 call (AVGO1418a40) entry $2.80



Celldex Therapeutics - CLDX - close: 26.76 change: +1.03

Stop Loss: 23.90
Target(s): 29.00
Current Gain/Loss: + 6.4%

Entry on September 17 at $25.15
Listed on September 16, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 1.5 million
New Positions: see below

Comments:
09/18/13: CLDX displayed relative strength with a +4.0% gain and another new multi-year high. I am raising our stop loss up to $23.90.

Earlier Comments:
NOTE: Traders need to be aware that biotech stocks can be a higher-risk trade. You never know when an unexpected headline about some clinical trial or FDA approval process could send the stock plunging or soaring. I am suggesting investors keep their position size small to limit risk.

*small positions*

current Position: long CLDX stock @ $25.15

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

Long Oct $25 call (CLDX1319j25) entry $2.05

09/18/13 new stop loss @ 23.90
*option entry price is an estimate since the option did not trade at the time our play was opened.



Freeport-McMoRan Copper & Gold - FCX - close: 34.55 change: +1.02

Stop Loss: 31.85
Target(s): 36.00
Current Gain/Loss: + 7.0%

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:
09/18/13: FCX delivered a strong performance with a +3.0% gain and a bullish breakout past potential resistance at $34.00 and its 300-dma. I am raising our stop loss to $31.85.

current Position: Long FCX stock @ $32.30

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

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

09/18/13 new stop loss @ 31.85



Lions Gate Entertainment - LGF - close: 36.28 change: -0.72

Stop Loss: 34.90
Target(s): 39.90 & 42.50
Current Gain/Loss: - 3.0%

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:
09/18/13: I can't find any headlines to explain the relative weakness in LGF. The long-term trend is still up but short-term LGF has underperformed the market two days in a row. I would still consider new bullish positions if we see LGF bounce from current levels.

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: 19.77 change: +0.22

Stop Loss: 18.95
Target(s): 19.95
Current Gain/Loss: + 5.7%

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:
09/18/13: MGM garnered some bullish analyst comments and a $26 price target today. Shares hit $19.88 on an intraday basis and closed with a +1.1% gain. More conservative traders may want to exit now to lock in gains. I am not suggesting new positions. We will raise our stop loss to $18.95.

current Position: long MGM stock @ $18.70

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

Long Oct $20 call (MGM1319j20) entry $0.38

09/18/13 new stop loss @ 18.95
09/16/13 new stop loss @ 18.65



NVIDIA - NVDA - close: 16.00 change: +0.14

Stop Loss: 14.95
Target(s): 16.90
Current Gain/Loss: + 2.6%

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:
09/18/13: NVDA added +0.8% and is on the verge of breaking out past resistance at the $16.00 level. This stock continues to look short-term overbought. I would not chase it here. 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: 38.63 change: +0.09

Stop Loss: 36.49
Target(s): 42.50
Current Gain/Loss: + 1.3%

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:
09/18/13: PKI delivered a rather disappointing session. The stock was weak early on but the market's afternoon rally lifted shares back into positive territory. I would still consider new positions here but investors may want to start with a small position size.
FYI: The Point & Figure chart for PKI is bullish with a $46.50 target.

current Position: Long PKI stock @ $38.15



Toro Co. - TTC - close: 55.00 change: +0.52

Stop Loss: 53.40
Target(s): 59.50
Current Gain/Loss: - 0.4%

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:
09/18/13: TTC retested short-term support near $54.00 prior to the FOMC decision. The post-Fed rally helped push TTC to a +0.9% gain. I would consider launching positions on this rebound.
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

Axiall Corp. - AXLL - close: 39.66 change: +0.29

Stop Loss: 40.65
Target(s): 35.25
Current Gain/Loss: -2.3%

Entry on September 18 at $38.75
Listed on September 17, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 1.0 million
New Positions: see below

Comments:
09/18/13: AXLL issued disappointing guidance this morning before the bell. The stock reacted with a gap down and a spike to a new relative low. Yet AXLL almost immediately bounced. Lack of any real follow through lower was surprising. Fortunately, AXLL's rebound attempt stalled at resistance near $40.00 this afternoon.

Our trigger was hit at $38.75 this morning. However, I would wait for a new drop below $39.00 or even a drop below $38.60 before initiating new positions.

Earlier Comments:
Our target is $35.25. More aggressive traders may want to aim lower since the P&F chart is bearish with a quadruple-bottom breakdown sell signal and a $29.00 target.

FYI: AXLL is due to begin trading ex-dividend on September 25th. The quarterly cash dividend should be 16 cents.

current Position: short AXLL stock @ $38.75

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

Long Oct $40 PUT (AXLL1319v40) entry $2.20*

*option entry price is an estimate since the option did not trade at the time our play was opened.



Mellanox Technologies - MLNX - close: 36.73 change: -0.50

Stop Loss: 39.25
Target(s): 35.25
Current Gain/Loss: + 7.0%

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:
09/18/13: MLNX ignored the U.S. stock market's rally today and sank to new relative lows with a -1.3% decline.

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