Editor's Note:
The major U.S. indices managed gains on Friday but the small cap index is still underperforming. That doesn't bode well for the market's up trend.

DAL hit our entry trigger on Friday.


Current Portfolio:


BULLISH Play Updates

Delta Air Lines - DAL - close: 33.53 change: -0.60

Stop Loss: 32.80
Target(s): to be determined
Current Gain/Loss: - 3.1%

Entry on March 28 at $34.60
Listed on March 27, 2014
Time Frame: exit PRIOR to earnings on April 23rd
Average Daily Volume = 11.6 million
New Positions: Yes, see below

Comments:
03/29/14: Friday proved to be a frustrating session if you were bullish on DAL. The stock hit a wall at $34.50 on Friday morning. Then after apparently absorbing all the overhead supply at this level DAL shot higher around 11:00 a.m. and hit $34.69. Our trigger to launch positions was hit at $34.60. Less than an hour later DAL was on the move lower and ended the day with a -1.75% decline, significantly underperforming the major indices and the airline index.

I am not suggesting new positions at this time. Let's wait and see if DAL bounces at $33.00 or reverses back above $34.50 again.

We will plan to exit prior to DAL's earnings report on April 23rd.

current Position: long DAL stock @ $34.60

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

Long May $35 call (DAL1417E35) entry $1.55*

03/28/14 triggered @ 34.60

chart:



MasTec, Inc. - MTZ - close: 42.99 change: -0.59

Stop Loss: 42.75
Target(s): 49.75
Current Gain/Loss: - 1.3%

Entry on March 25 at $43.55
Listed on March 24, 2014
Time Frame: 6 to 8 weeks
Average Daily Volume = 750 thousand
New Positions: see below

Comments:
03/29/14: MTZ is not cooperating. The stock tagged a new multi-year high on Friday morning and then reversed into a -1.35% decline. The relative weakness is a potential warning signal. There appears to be short-term support near $42.85. We are raising our stop to $42.75.

Earlier Comments:
MTZ could see more short covering. The most recent data listed short interest at 15% of the 58.4 million-share float. The Point & Figure chart for MTZ is bullish with a $70 target.

current Position: long MTZ stock @ $43.55

03/29/14 new stop @ 42.75
03/25/14 triggered @ 43.55

chart:



NanoString Technologies - NSTG - close: 20.39 change: +0.09

Stop Loss: 19.45
Target(s): to be determined
Current Gain/Loss: -2.2%

Entry on March 20 at $20.85
Listed on March 19, 2014
Time Frame: 6 to 8 weeks
Average Daily Volume = 141 thousand
New Positions: see below

Comments:
03/29/14: NSTG is not making any progress. Shares continue to churn sideways and we're running out of patience. Tonight we're suggesting an immediate exit on Monday morning.

Earlier Comments:
NSTG can be a volatile stock and with any biotech stock I suggest caution. We want to use small positions to limit our risk. I am not setting an exit target yet but probably somewhere near $25.00. The Point & Figure chart for NSTG is bullish with a $33.50 target.

*small positions*

current Position: Long NSTG stock @ $20.85

03/29/14 prepare to exit on Monday morning
03/20/14 triggered $ 20.85

chart:



Quanta Services, Inc. - PWR - close: 36.86 change: +0.76

Stop Loss: 35.75
Target(s): 39.85
Current Gain/Loss: + 2.2%

Entry on March 06 at $36.05
Listed on March 04, 2014
Time Frame: 6 to 8 weeks
Average Daily Volume = 2.0 million
New Positions: see below

Comments:
03/29/14: PWR managed to erase about three days of losses with a +2.1% bounce on Friday. This is a new 52-week closing high for the stock. I am not suggesting new positions at this time.

current Position: Long PWR stock @ $36.05

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

Long Apr $35 call (PWR1419D35) entry $1.70*

03/27/14 new stop loss @ 35.75
03/22/14 new stop loss @ 35.45
03/13/14 new stop loss @ 34.85
03/06/14 triggered @ 36.05
*option entry price is an estimate since the option did not trade at the time our play was opened.

chart:



Tyson Foods, Inc. - TSN - close: 43.15 change: +0.28

Stop Loss: 42.25
Target(s): 46.50
Current Gain/Loss: + 7.5%

Entry on March 05 at $40.15
Listed on March 01, 2014
Time Frame: 6 to 8 weeks
Average Daily Volume = 4.3 million
New Positions: see below

Comments:
03/29/14: The march higher in shares of TSN continued on Friday with a +0.6% gain and another new high. The simple 10-dma has risen to $42.43. We are adjusting our stop loss to $42.25. More aggressive traders may want to keep their stop below the $42.00 level instead. I am not suggesting new positions at this time.

*small positions*

current Position: Long TSN stock @ $40.15

03/29/14 new stop @ 42.25
03/27/14 new stop @ 41.35
03/22/14 new stop @ 40.65
03/18/14 new stop @ 39.90, adjust exit target from $44.50 to $46.50
03/15/14 new stop @ 39.45
03/12/14 new stop @ 38.95
03/05/14 triggered @ 40.15

chart:



BEARISH Play Updates

OSI Systems, Inc. - OSIS - close: 59.14 change: -0.31

Stop Loss: 62.05
Target(s): to be determined
Current Gain/Loss: +1.0%

Entry on March 27 at $59.75
Listed on March 26, 2014
Time Frame: exit PRIOR to earnings in late April
Average Daily Volume = 155 thousand
New Positions: see below

Comments:
03/29/14: OSIS did not participate in the market's bounce on Friday. That's good news if you're bearish. I would still consider new bearish positions at current levels.

current Position: short OSIS stock @ $59.75

03/27/14 triggered @ 59.75

chart:



Theravance Inc. - THRX - close: 30.17 change: -0.04

Stop Loss: 32.85
Target(s): to be determined
Current Gain/Loss: + 8.2%

Entry on March 21 at $32.85
Listed on March 17, 2014
Time Frame: 6 to 8 weeks
Average Daily Volume = 761 thousand
New Positions: see below

Comments:
03/29/14: The bounce on Friday morning reversed. Shares of THRX ended the week testing support at the $30.00 level. We are expecting a breakdown of this support but THRX could see an oversold bounce from here. Thus more conservative traders may want to take profits right now.

I am not suggesting new positions at this time.

Earlier Comments:
I am not setting a target yet but more conservative traders might want to exit near $30.00, which could be round-number support.

I want to remind investors that biotechs can be volatile stocks to trade. You may want to consider buying the put options as a way to limit your risk. THRX does have above average short interest. The most recent data listed short interest at 25% of the 58 million share float. That does raise the risk of a short squeeze.

It's also worth noting that THRX just announced plans to split their company into two listed companies sometime in the second quarter of this year.

FYI: The Point & Figure chart for THRX is bearish with a $25.00 target.

current Position: short THRX stock @ $32.85

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

Long Apr $30 PUT (THRX1419P30) entry $0.90*

03/27/14 new stop @ 32.85
03/21/14 triggered @ 32.85
*option entry price is an estimate since the option did not trade at the time our play was opened.

chart: