Editor's Note:
The financial sector helped lead the market lower on Monday as investors reacted to negative analyst comments about the potential for lower trading revenues among the big banks.

Meanwhile all the major U.S. stock market indices tested short-term support at their rising 10-dma.

PRIM was triggered today.


Current Portfolio:


BULLISH Play Updates

Avago Technologies - AVGO - close: 41.87 change: +0.25

Stop Loss: 39.40
Target(s): 44.50
Current Gain/Loss: + 4.0%

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:
09/23/13: News that Apple had sold way more iPhone 5s than anyone expected over their debut weekend helped push Apple's part suppliers higher. Plus, AVGO garnered some bullish analyst comments. This stock gapped higher and hit new all-time highs before paring its gains.

Shares are arguably short-term overbought here. I would not chase it.

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

09/21/13 new stop loss @ 39.40



Freeport-McMoRan Copper & Gold - FCX - close: 33.76 change: -0.11

Stop Loss: 32.75
Target(s): 36.00
Current Gain/Loss: + 4.5%

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:
09/23/13: Action in FCX today was relatively muted. Shares drifted lower toward their 300-dma. I am suggesting traders remain defensive here. More conservative traders may want to just exit now to lock in gains.

current Position: Long FCX stock @ $32.30

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

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

09/21/13 new stop loss @ 32.75
09/18/13 new stop loss @ 31.85



Goodyear Tire & Rubber Co. - GT - close: 22.11 change: -0.10

Stop Loss: 21.39
Target(s): 25.00
Current Gain/Loss: - 1.7%

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:
09/23/13: Bullish analyst comments on GT this morning failed to lift the stock price. Shares briefly traded below short-term technical support at the 10-dma before rebounding. I would wait for GT to trade above $22.60 before considering new bullish positions.

current Position: long GT stock @ $22.50

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

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



NVIDIA - NVDA - close: 15.64 change: -0.16

Stop Loss: 15.45
Target(s): 16.90
Current Gain/Loss: + 0.3%

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:
09/23/13: Over the weekend we cautioned readers that NVDA looked poised for a pullback. Shares dipped toward short-term support near $15.50 before paring its losses. If there is any follow through lower tomorrow we could see NVDA hit our stop loss at $15.45.

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

09/21/13 new stop loss @ $15.45



Omnicell, Inc. - OMCL - close: 24.85 change: -0.02

Stop Loss: 23.90
Target(s): 29.00
Current Gain/Loss: unopened

Entry on September -- at $--.--
Listed on September 21, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 235 thousand
New Positions: Yes, see below

Comments:
09/23/13: OMCL held up well today. Traders bought the dip this morning. The stock actually hit new highs but struggled with round-number resistance at the $25.00 mark this afternoon. There is no change from my prior comments.

Earlier Comments:
I am suggesting a trigger to launch small bullish positions at $25.15. If triggered our multi-week target is $29.00.

Trigger @ 25.15 *small positions*

Suggested Position: buy OMCL stock @ (trigger)



PerkinElmer Inc. - PKI - close: 37.86 change: -0.38

Stop Loss: 37.60
Target(s): 42.50
Current Gain/Loss: - 0.8%

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:
09/23/13: PKI's performance last week was a bit disappointing so we raised our stop loss to $37.60 this past weekend. The disappointment continued today with PKI underperforming the market with a -0.99% decline and a breakdown below what could have been short-term support at $38.00 and its 10-dma. The low today was $37.70. If there is any follow through lower tomorrow then we'll likely see PKI hit our stop at $37.60.

current Position: Long PKI stock @ $38.15

09/21/13 new stop loss @ 37.60



Primoris Services - PRIM - close: 25.71 change: +0.46

Stop Loss: 24.20
Target(s): 28.50
Current Gain/Loss: + 0.8%

Entry on September 23 at $25.50
Listed on September 21, 2013
Time Frame: exit PRIOR to earnings in early November
Average Daily Volume = 222 thousand
New Positions: see below

Comments:
09/23/13: Our new play on PRIM has been opened. Shares continued to show relative strength with a +1.8% rally today. The stock hit our suggested entry point at $25.50 this morning. If you missed our entry point consider waiting for a dip back toward the $25.50-25.00 zone. We're expecting the $25.00 level to offer short-term support.

FYI: PRIM should begin trading ex-dividend on September 26th, 2013. The cash dividend should be 3.5 cents.

current Position: Long PRIM stock @ $25.50



Toro Co. - TTC - close: 54.25 change: -0.31

Stop Loss: 53.75
Target(s): 59.50
Current Gain/Loss: - 1.7%

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:
09/23/13: The trading action in TTC today does not bode well for the bulls. Shares briefly traded below support near $54.00 but managed a bounce. Unfortunately, the rebound failed near its 10-dma, which is now short-term overhead resistance. If there is any follow through lower tomorrow I would expect TTC to hit our stop loss at $53.75.

current Position: long TTC stock @ $55.20

09/21/13 new stop loss @ 53.75
09/16/13 trade opened on gap higher at $55.20
suggested trigger was $55.15



Yahoo! Inc. - YHOO - close: 30.26 change: -0.67

Stop Loss: 29.75
Target(s): 34.75
Current Gain/Loss: - 1.1%

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:
09/23/13: Traders must have been in a mood to sell this morning because I couldn't find any news to explain the sharp sell-off in YHOO this morning (if you can call a drop from $31 to $30 a sharp sell-off). Even with a bounce from short-term support near $30.00 and its 10-dma the stock underperformed the market with a -2.1% decline today.

If there is any follow through lower tomorrow we could see YHOO hit our stop loss at $29.75.

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*

09/21/13 new stop loss @ $29.75
*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: 38.08 change: -0.95

Stop Loss: 40.15
Target(s): 35.25
Current Gain/Loss: +1.7%

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:
09/23/13: The down trend in AXLL continued on Monday with a breakdown to new lows for 2013. Shares underperformed the market with a -2.4% decline. I am adjusting our stop loss down to $40.15.

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*

09/23/13 new stop loss @ 40.15
*option entry price is an estimate since the option did not trade at the time our play was opened.



Urban Outfitters - URBN - close: 37.43 change: -0.67

Stop Loss: 38.60
Target(s): 34.50
Current Gain/Loss: unopened

Entry on September -- at $--.--
Listed on September 19, 2013
Time Frame: 3 to 4 weeks
Average Daily Volume = 2.8 million
New Positions: Yes, see below

Comments:
09/23/13: URBN started the new week with a plunge toward last week's lows. Shares underperformed the market with a -1.75% decline. What I find interesting is that URBN failed to see any rebound off its lows today and that's good news for the bears.

Earlier Comments:
Last Wednesday's low was $37.34. I am suggesting a trigger to launch bearish positions at $37.25. If triggered our target is the November 2012 lows near $34.50.

FYI: The Point & Figure chart has produced a sell signal and is forecasting at $31.00 target.

Trigger @ 37.25

Suggested Position: short URBN stock @ (trigger)

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

buy the Oct $38 PUT (URBN1319v38) current ask $1.35