Editor's Note:
The stock market is once again waiting on the Fed and if the FOMC announces a taper tomorrow afternoon.

GRPN hit our entry trigger. We have removed GIB.


Current Portfolio:


BULLISH Play Updates

Autodesk, Inc. - ADSK - close: 47.50 change: +0.31

Stop Loss: 44.90
Target(s): 49.85
Current Gain/Loss: + 2.0%

Entry on December 05 at $46.55
Listed on December 04, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 3.0 million
New Positions: see below

Comments:
12/17/13: ADSK was back to showing relative strength again with a +0.66% gain on Tuesday. More conservative traders may want to start raising their stop loss again. I am not suggesting new positions at this time.

FYI: The Point & Figure chart for ADSK is bullish with a $56.00 target.

current Position: long ADSK stock @ $46.55

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

Long 2014 Jan $47 call (ADSK1418a47) entry $1.35

12/14/13 adjust exit target to $49.85



Comerica Inc. - CMA - close: 45.49 change: -0.07

Stop Loss: 44.40
Target(s): 49.90
Current Gain/Loss: - 0.6%

Entry on November 25 at $45.76
Listed on November 21, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 1.5 million
New Positions: see below

Comments:
12/17/13: CMA is still churning sideways albeit with a slightly bullish trend of higher lows as traders buy the dips near its rising 30-dma. I am not suggesting new positions at this time.

current Position: Long CMA stock @ $45.76

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

Long 2014 Jan $45 call (CMA1418a45) entry $1.72*

11/25/13 trade opened on gap higher at $45.76. suggested trigger was $45.65
*option entry price is an estimate since the option did not trade at the time our play was opened.



Fifth & Pacific Companies, Inc. - FNP - close: 32.97 change: -0.14

Stop Loss: 31.95
Target(s): 38.50
Current Gain/Loss: - 3.2%

Entry on December 10 at $34.05
Listed on December 07, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 1.3 million
New Positions: see below

Comments:
12/17/13: FNP retested short-term technical support at its rising 20-dma this morning. The bounce back from its morning lows is encouraging but I am not suggesting new positions.

Earlier Comments:
We want to keep our position size small to limit our risk.

*small positions*

current Position: long FNP stock @ $34.05

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

Long 2014 Jan $35 call (FNP1418a35) entry $1.15*

12/12/13 we are adjusting the stop loss to $31.95
*option entry price is an estimate since the option did not trade at the time our play was opened.



Groupon, Inc. - GRPN - close: 10.67 change: +0.31

Stop Loss: 9.65
Target(s): 12.50
Current Gain/Loss: - 0.3%

Entry on December 17 at $10.70
Listed on December 12, 2013
Time Frame: to 8 weeks
Average Daily Volume = 18.4 million
New Positions: see below

Comments:
12/17/13: GRPN displayed relative strength today with a +2.99% surge to new four-week highs. Our trigger to open bullish positions was hit at $10.70.

Earlier Comments:
The stock price peaked in mid September at $12.64. Shares closed at $8.75 on December 2nd. That's -30% correction. That December low also marked a test of technical support at its rising 200-dma. The stock has recently picked up speed with a bounce from recent support near the $9.00 area thanks in part to some bullish analyst comments and a new $15 price target.

Our target is $12.50. A rally past $11.00 will create a new buy signal on GRPN's point & figure chart.

current Position: Long GRPN stock @ $10.70

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

Long 2014 FEB $12 call (GRPN1422b12) entry $0.67

12/17/13 triggered at $10.70




Johnson Controls Inc. - JCI - close: 51.32 change: +0.37

Stop Loss: 49.75
Target(s): 57.50
Current Gain/Loss: unopened

Entry on December -- at $--.--
Listed on December 10, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 4.7 million
New Positions: Yes, see below

Comments:
12/17/13: JCI continued to bounce with a +0.7% gain on Tuesday. Shares are nearing resistance at the top of its trading range in the $51.70-51.90 area. We are still waiting on a bullish breakout higher. I don't see any changes from my prior comments.

Earlier Comments:
I am suggesting a trigger to open bullish positions at $52.10. If triggered our multi-week target is $57.50.

FYI: The Point & Figure chart for JCI is bullish with a long-term $80.00 target.

Trigger @ 52.10

Suggested Position: buy JCI stock @ (trigger)

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

Buy the 2014 April $55 call (JCI1419D55)



Micron Technology - MU - close: 22.92 change: +0.15

Stop Loss: 21.90
Target(s): TBD
Current Gain/Loss: - 1.1%

Entry on December 16 at $23.17
Listed on December 14, 2013
Time Frame: exit PRIOR to earnings on Jan. 7th
Average Daily Volume = 44 million
New Positions: see below

Comments:
12/17/13: If you were waiting to buy the dip near MU's rising 10-dma then you got your wish. Traders rushed in to buy MU at this rising moving average and the stock outperformed with a +0.65% gain by the closing bell.

Earlier Comments:
MU is certainly overbought with a seven-week win streak but that doesn't mean it can't grow more overbought. However, investors may want to limit their position size to reduce risk. We will plan on exiting prior to MU's earnings report on January 7th, 2014.

*Small positions *

current Position: long MU stock @ $23.17

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

Long Jan $23 call (MU1418A23) entry $1.57

12/16/13 trade opened on Monday with MU at $23.17



WageWorks, Inc. - WAGE - close: 59.39 change: -0.27

Stop Loss: 57.75
Target(s): 67.50
Current Gain/Loss: unopened

Entry on December -- at $--.--
Listed on December 16, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 347 thousand
New Positions: Yes, see below

Comments:
12/17/13: Today is the second day in a row that WAGE's attempt to rally past $60.0 failed below the $60.50 mark. I don't see any changes from last night's new play description.

Earlier Comments:
I am suggesting a trigger to launch bullish positions at $60.55. If triggered our multi-week target is $67.50.

Trigger @ 60.55

Suggested Position: buy WAGE stock @ (trigger)



BEARISH Play Updates

AECOM Technology - ACM - close: 27.84 change: -0.44

Stop Loss: 28.60
Target(s): 24.25
Current Gain/Loss: - 0.6%

Entry on December 16 at $27.68
Listed on December 14, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 525 thousand
New Positions: see below

Comments:
12/17/13: Good news! There was no follow through on yesterday's bounce in ACM. The stock appears to be failing at short-term resistance at its descending 10-dma. The drop back below $28.00 looks like a new bearish entry point.

Earlier Comments:
Technically ACM has a bleak outlook. The stock has created a huge bearish head-and-shoulders pattern over the last year. The recent breakdown below support at $28.00 also breaks the neckline to this H&S pattern. The pattern is forecasting a drop toward $21.00. The Point & Figure chart is also bearish and forecasting a drop toward $23.00. Our target is $24.25 since the $24 level could be support.

*Small positions *

current Position: short ACM stock @ $27.68

12/16/13 trade opened on gap higher at $27.68



Cisco Systems - CSCO - close: 20.92 change: +0.24

Stop Loss: 21.55
Target(s): 17.00
Current Gain/Loss: - 0.9%

Entry on December 17 at $20.74
Listed on December 14, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 50 million
New Positions: see below

Comments:
12/17/13: Our CSCO trade is now open. Today's performance is either a warning signal or a gift of an entry point. Last night we decided to change our entry point strategy and suggested bearish positions at the opening bell today. CSCO gapped open higher at $20.74. Shares rallied up to their 20-dma (near today's high of $21.13) before paring its gains. The +1.1% gain today certainly qualifies as relative strength on a day most of the market was down. That's not good if you're bearish. Plus, on CNBC's halftime show they pointed out that someone was buying a lot of upside calls in CSCO, which might be considered bullish. On the other hand CSCO share price did close below what we discussed should be resistance at the $21.00 level. This bounce to resistance near $21.00 could be a great entry point. However, more conservative investors may want to adjust their stop loss so it's closer to today's high.

current Position: short CSCO stock @ $20.74

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

Long Feb $20 PUT (CSCO1422n20) entry $0.63

12/17/13 trade opens. CSCO @ $20.74
12/16/13 New entry point strategy: launch bearish positions at the opening bell on Tuesday, Dec. 17th. Prior entry point was a trigger at $19.85



CLOSED BEARISH PLAYS

CGI Group, Inc. - GIB - close: $34.72 change: +1.00

Stop Loss: 35.25
Target(s): 28.50
Current Gain/Loss: unopened

Entry on December -- at $--.--
Listed on December 07, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 327 thousand
New Positions: see below

Comments:
12/17/13: We are removing GIB as a bearish candidate. The stock is not cooperating. Shares outperformed the market with a +2.9% gain today. It seems unlikely that GIB will hit our suggested entry point at $32.80 any time soon.

Trade did not open.

12/17/13 removed from the newsletter. suggested trigger was $32.80

chart: