Editor's Note:
Worries that the Federal Reserve might taper sooner than expected helped fuel more profit taking. The market's weakness accelerated following the release of the latest FOMC minutes.

BRLI and EXH both hit our entry triggers.


Current Portfolio:


BULLISH Play Updates

Anika Therapeutics - ANIK - close: 31.22 change: +0.35

Stop Loss: 29.75
Target(s): 38.00
Current Gain/Loss: - 2.6%

Entry on November 18 at $32.05
Listed on November 12, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 275 thousand
New Positions: see below

Comments:
11/20/13: ANIK outperformed the major U.S. indices with a +1.1% gain. Unfortunately the rally did fail under resistance at the $32.00 level this morning. I am not suggesting new positions at this time.

Earlier Comments:
I do consider biotech stocks to be higher-risk, more aggressive trades. We never know when a headline about some clinical trial or FDA approval process could spark a big gap down or gap higher in the stock. I am suggesting small positions to limit our risk.

*small positions*

current Position: long ANIK stock @ $32.05



Bio-Reference Labs Inc. - BRLI - close: 36.39 change: +0.53

Stop Loss: 34.45
Target(s): 39.75
Current Gain/Loss: + 0.4%

Entry on November 20 at $36.25
Listed on November 18, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 225 thousand
New Positions: see below

Comments:
11/20/13: The relative strength in BRLI continues. A +1.4% gain on a day the market was down is certainly bullish. The breakout past resistance near $36.00 is also bullish. BRLI hit our suggested entry point at $36.25 today. I am anticipating some short covering to boost BRLI's gains.

Earlier Comments:
A breakout past $36.00 could spark some serious short covering. The most recent data listed short interest at 44% of the very small 24.4 million share float.

I am suggesting a trigger to open bullish positions at $36.25. If triggered our target is $39.75. More aggressive traders may want to aim higher. The Point & Figure chart for BRLI is bullish with a $49.00 target.

current Position: long BRLI stock @ $36.25

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

Long Dec $35 call (BRLI1322L35) entry $2.30



CBOE holdings - CBOE - close: 52.92 change: +1.53

Stop Loss: 49.95
Target(s): 57.50
Current Gain/Loss: + 2.3%

Entry on November 11 at $51.75
Listed on November 09, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 530 thousand
New Positions: see below

Comments:
11/20/13: CBOE also turned in a bullish performance. I didn't see any specific news behind today's rally. Shares broke out past short-term resistance near $52.00 and closed with a +3.0% gain and a new record high.

Please note our new stop loss at $49.95.

current Position: long CBOE stock @ $51.75

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

Long 2014 Jan $50 call (CBOE1418a50) entry $2.85

11/20/13 new stop loss @ 49.95



Cliffs Natural Resources - CLF - close: 27.23 change: -0.19

Stop Loss: 25.85
Target(s): 34.00
Current Gain/Loss: -2.8%

Entry on November 19 at $28.00
Listed on November 16, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 9.2 million
New Positions: see below

Comments:
11/20/13: Hmm.... CLF tried to rally past the $28.00 level again today. For the second day in a row the rally failed. I am not suggesting new positions at this time. More conservative traders might want to raise their stop closer to the 20-dma near $26.65.

Earlier Comments:
Our target is $34.00. More aggressive investors could aim higher. The Point & Figure chart for CLF is bullish with a $45.00 target.

If it possible that the $30.00 level could prove to be round-number resistance. Don't be surprised to see a pullback there.

current Position: long CLF stock @ $28.00

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

Long 2014 Jan $30 call (CLF1418a30) entry $1.20



Charles River Labs Intl. - CRL - close: 51.51 change: +0.27

Stop Loss: 49.90
Target(s): 55.00
Current Gain/Loss: + 0.0%

Entry on November 14 at $51.50
Listed on November 13, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 418 thousand
New Positions: see below

Comments:
11/20/13: The bounce in CRL continued on Wednesday. Yet shares failed to breakout past the $52.00 level, which appears to be developing as short-term resistance. I am raising our stop loss to $49.90.

Our plan was to keep our position size small to limit our risk. FYI: The Point & Figure chart for CRL is bullish with a $58.00 target.

*small positions*

current Position: long CRL stock @ $51.50

11/20/13 new stop loss @ 49.90



Brinker Intl. Inc. - EAT - close: 46.11 change: +0.30

Stop Loss: 44.95
Target(s): 49.75
Current Gain/Loss: + 0.8%

Entry on November 06 at $45.75
Listed on November 05, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 1.4 million
New Positions: see below

Comments:
11/20/13: Shares of EAT outperformed the market today with a +0.65% gain. Yet shares were up more than +2% this morning. The sharp spike higher this morning looks like the kind of reaction EAT might see from an upgrade. Yet I can't find any company-specific news to account for the rise.

Earlier Comments:
The latest data listed short interest at 10% of the 65.5 million share float. If this rally continues it could spark some short covering. Our target is $49.75. More aggressive traders could aim higher. The Point & Figure chart for EAT is bullish with a $67.50 target.

I want to urge a little caution if you plan to use the call options. EAT's January options have some relatively wide spreads. The 2014 January $45s seem to be the exception for now but that doesn't mean the spread will stay this narrow (it could get worse).

current Position: long EAT stock @ $45.75

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

Long 2014 Jan $45 call (EAT1418a45) entry $1.70*

11/18/13 new stop loss @ 44.95
11/13/13 new stop loss @ 44.75
*option entry price is an estimate since the option did not trade at the time our play was opened.



eHealth, Inc. - EHTH - close: 44.12 change: +0.02

Stop Loss: 43.75
Target(s): 49.75
Current Gain/Loss: unopened

Entry on November -- at $--.--
Listed on November 16, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 427 thousand
New Positions: Yes, see below

Comments:
11/20/13: Wednesday's session was very quiet for EHTH with the stock drifting sideways in a narrow range. There is no change from my prior comments.

Currently I am suggesting a trigger to launch bullish positions at $46.25. We do want to keep our position size small to limit our risk.

Trigger @ 46.25

Suggested Position: buy EHTH stock @ (trigger)



Evercore Partners - EVR - close: 52.66 change: +0.20

Stop Loss: 51.40
Target(s): 59.00
Current Gain/Loss: + 0.3%

Entry on November 07 at $52.50
Listed on November 06, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 439 thousand
New Positions: see below

Comments:
11/20/13: EVR outperformed the market with a +0.38% gain today. I would not put any faith behind this move. The stock has been chopping around sideways in the $52-54 zone the last few sessions.

Our multi-week target is $59.00. More aggressive investors could aim higher since the Point & Figure chart for EVR is bullish with a $69 target.

current Position: Long EVR stock @ $52.50

11/19/13 new stop loss @ 51.40



Exterran Holdings, Inc. - EXH - close: 33.24 change: +0.24

Stop Loss: 31.90
Target(s): 36.50
Current Gain/Loss: - 0.3%

Entry on November 20 at $33.35
Listed on November 19, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 900 thousand
New Positions: see below

Comments:
11/20/13: As we expected shares of EXH continued to show strength today. The stock rallied to a new multi-year high and hit our suggested entry point at $33.35. I would still consider new positions now.

current Position: long EXH stock @ $33.35



VeriSign, Inc. - VRSN - close: 55.28 change: -0.21

Stop Loss: 53.75
Target(s): 59.50
Current Gain/Loss: +0.1%

Entry on November 14 at $55.25
Listed on November 13, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 1.1 million
New Positions: see below

Comments:
11/20/13: VRSN is still consolidating sideways inside the $55-56 zone. If shares break support near $55.00 I would look for additional support near $54.00.


FYI: The Point & Figure chart for VRSN is bullish with a long-term $76.00 target.

current Position: long VRSN stock @ $55.25

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

Long 2014 Jan $55 call (VRSN1418a55) entry $2.01



Consumer Staples ETF - XLP - close: 42.86 change: -0.18

Stop Loss: 41.65
Target(s): 47.50
Current Gain/Loss: + 0.3%

Entry on October 29 at $42.75
Listed on October 28, 2013
Time Frame: 9 to 12 weeks
Average Daily Volume = 7.0 million
New Positions: see below

Comments:
11/20/13: The XLP is following the market lower. Both the XLP and the S&P 500 index are down three days in a row. I've been suggesting that we could see XLP dip to the $42.50 level but I would not be surprised to see shares bounce from its current levels near the simple 20-dma. Today's low was $42.73.

current Position: long the XLP @ $42.75

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

Long 2014 Jan $43 call (XLP1418a43) entry $0.71*

11/16/13 new stop loss @ 41.95
11/06/13 new stop loss @ 41.65
10/30/13 FYI: today's session has created a bearish reversal pattern. Look for a dip back toward $42.00.
*option entry price is an estimate since the option did not trade at the time our play was opened.



BEARISH Play Updates


None. We do not have any active bearish trades.