Editor's Note:
Stocks took the day off to catch their breath after yesterday's afternoon sprint higher.

MGM hit our bullish exit target.
GT and YHOO were triggered.


Current Portfolio:


BULLISH Play Updates

Avago Technologies - AVGO - close: 40.75 change: +0.08

Stop Loss: 38.25
Target(s): 44.50
Current Gain/Loss: + 1.2%

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:
09/19/13: AVGO provided us another entry point this morning with a dip toward the $40 area. Traders jumped in and the stock rebounded to close at another high.

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: 28.60 change: +1.84

Stop Loss: 24.75
Target(s): 29.00
Current Gain/Loss: +13.7%

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:
09/19/13: The rally in CLDX is picking up speed. Shares surged +6.8% on strong volume. Odds are good that we will see CLDX hit our suggested exit target at $29.00 tomorrow morning. I am raising our stop loss to $24.75.

NOTE: I am suggesting we go ahead and exit our October $25 calls immediately at the opening bell tomorrow morning. The current bid/ask is $4.20/4.40.

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

09/19/13 new stop loss @ 24.75
prepare to exit the October $25 calls at the open tomorrow morning
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: 34.60 change: +0.05

Stop Loss: 31.85
Target(s): 36.00
Current Gain/Loss: + 7.1%

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:
09/19/13: FCX tagged potential round-number resistance at $35.00 and then retreated. Shares still managed to post another gain. There was a lot of talk today on CNBC about how the Fed's decision to not taper QE is bullish for gold, which should be positive for FCX.

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



Goodyear Tire & Rubber Co. - GT - close: 22.23 change: +0.06

Stop Loss: 21.39
Target(s): 25.00
Current Gain/Loss: - 1.2%

Entry on September 19 at $22.50
Listed on September 18, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 4.2 million
New Positions: see below

Comments:
09/19/13: Our new trade on GT has been opened. The stock opened higher at $22.48, tagged $22.50 and then retreated back toward $22.00. Our suggested entry point to launch bullish positions was hit at $22.50. I would actually be tempted to launch positions now at current levels given the afternoon rebound from the $22 area.

current Position: long GT stock @ $22.50

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

Long 2014 Jan $23 call (GT1418a23) entry $1.63



Lions Gate Entertainment - LGF - close: 35.45 change: -0.83

Stop Loss: 34.90
Target(s): 39.90 & 42.50
Current Gain/Loss: - 5.2%

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:
09/19/13: I still can't find any news to explain the sudden weakness in shares of LGF. The stock is now down three days in a row. The breakdown below $36.00 today is short-term bearish. LGF ended the session sitting on its rising 30-dma. LGF looks poised to drop toward its 50-dma near $34.25. Of course a breakdown below $35.00 will hit our stop loss at $34.90. I am not suggesting new positions at this time.

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.



NVIDIA - NVDA - close: 15.93 change: -0.07

Stop Loss: 14.95
Target(s): 16.90
Current Gain/Loss: + 2.1%

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:
09/19/13: NVDA managed to hit a new 52-week high on an intraday basis this morning. Unfortunately, NVDA was unable to keep these gains and posted a -0.4% decline. 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: 38.58 change: -0.05

Stop Loss: 36.49
Target(s): 42.50
Current Gain/Loss: + 1.1%

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:
09/19/13: PKI rallied to new highs this morning near $39.00 but eventually retraced all of its intraday gains. Readers may want to wait for a dip or a bounce near the rising 10-dma before initiating new positions.
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: 54.62 change: -0.38

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:
09/19/13: Today's session was a down one for TTC (-0.69%) but the stock is still churning sideways above support near the $54.00 level. Readers may want to wait for another dip or a bounce near $54 before initiating new positions.
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



Yahoo! Inc. - YHOO - close: 31.03 change: +0.60

Stop Loss: 29.25
Target(s): 34.75
Current Gain/Loss: + 1.4%

Entry on September 19 at $30.60
Listed on September 18, 2013
Time Frame: 9 to 12 weeks
Average Daily Volume = 13.3 million
New Positions: see below

Comments:
09/19/13: YHOO keeps the rally going with its fourth gain in a row. The stock displayed relative strength today with a +1.95% gain and another multi-year high. Our suggested entry point to launch positions was hit early this morning at $30.60.

Earlier Comments:
Our plan was to keep our position size small to limit our risk.

*small positions*

current Position: Long YHOO stock @ $30.60

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

Long 2014 Jan $32 call (YHOO1418a32) entry $1.70*

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



BEARISH Play Updates

Axiall Corp. - AXLL - close: 39.81 change: +0.15

Stop Loss: 40.65
Target(s): 35.25
Current Gain/Loss: -2.7%

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:
09/19/13: AXLL spent Thursday's session churning sideways below resistance at the $40.00 level. 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: 35.64 change: -1.09

Stop Loss: 39.25
Target(s): 35.25
Current Gain/Loss: + 9.8%

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:
09/19/13: MLNX is the bearish gift that keeps on giving. Shares continue to display relative weakness and lost another -2.9% today. Our exit target is $35.25. More aggressive traders may want to aim lower. I am adjusting our stop loss down to $38.25 tonight.

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

09/19/13 new stop loss @ 38.25
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

MGM Resorts Intl. - MGM - close: 20.18 change: +0.41

Stop Loss: 18.95
Target(s): 19.95
Current Gain/Loss: + 6.7%

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:
09/19/13: Target hit.

Gambling-related stocks continued to show relative strength today. MGM outpaced the broader market with a +2.0% gain. Today's move is also a breakout past potential round-number resistance at the $20.00 mark. Our exit target was hit at $19.95.

closed Position: long MGM stock @ $18.70 exit $19.95 (+6.7%)

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

Oct $20 call (MGM1319j20) entry $0.38 exit $0.73 (+ 92.1%)

09/19/13 target hit.
09/18/13 new stop loss @ 18.95
09/16/13 new stop loss @ 18.65

chart: