Editor's Note:
The market's performance on Friday felt like a potential bearish reversal. Today's widespread drop might be seen as confirmation.

We saw DAL, GNW, and PWR hit our stop loss.


Current Portfolio:


BULLISH Play Updates

Applied Materials - AMAT - close: 20.03 change: -0.22

Stop Loss: 19.75
Target(s): to be determined
Current Gain/Loss: - 3.9%

Entry on April 03 at $20.85
Listed on April 01, 2014
Time Frame: exit PRIOR to earnings on May 15th
Average Daily Volume = 14.8 million
New Positions: see below

Comments:
04/07/14: AMAT has confirmed Friday's bearish reversal candlestick signal. More conservative traders may want to exit now. The stock did bounce off its 20-dma (near today's low $19.88). I would be tempted to launch new positions on a rebound above today's high ($20.25).

Plan on exiting positions prior to earnings on May 15th.

current Position: Long AMAT stock @ $20.85

04/03/14 triggered @ 20.85



Best Buy Co. Inc. - BBY - close: 27.19 change: -0.51

Stop Loss: 26.45
Target(s): to be determined
Current Gain/Loss: unopened

Entry on April -- at $--.--
Listed on April 05, 2014
Time Frame: 6 to 8 weeks
Average Daily Volume = 5.4 million
New Positions: Yes, see below

Comments:
04/07/14: After strong gains on Friday BBY was a target for profit taking today. Shares gave back -1.8%. Traders were starting to buy the dip this afternoon. More aggressive traders may want to consider launching positions on a move above $27.50. Tonight we're suggesting we stick to the plan and wait for a new relative high.

Earlier Comments:
The January 16th high was $28.20. We're suggesting a trigger to open bullish positions at $28.30.

Trigger @ $28.30

Suggested Position: buy BBY stock @ (trigger)

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

Buy the May $28 call (BBY1417E28)



BEARISH Play Updates

Catamaran Corp. - CTRX - close: 41.68 change: -0.96

Stop Loss: 42.25
Target(s): to be determined
Current Gain/Loss: + 4.0%

Entry on April 04 at $43.40
Listed on April 03, 2014
Time Frame: 6 to 8 weeks
Average Daily Volume = 2.4 million
New Positions: see below

Comments:
04/07/14: CTRX continues to underperform the stock market and lost -2.25% on Monday. These are new 52-week lows. I am moving our stop loss down to $42.25.

Plan on exiting prior to CTRX's earnings report in early May.

current Position: short CTRX stock @ $43.40

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

Long May $45 PUT (CTRX1417Q45) entry $2.90*

04/07/14 new stop @ 42.25
04/04/14 triggered @ 43.40
*option entry price is an estimate since the option did not trade at the time our play was opened.



Incyte Corp. - INCY - close: 50.15 change: -0.35

Stop Loss: 51.25
Target(s): 45.25
Current Gain/Loss: unopened

Entry on April -- at $--.--
Listed on April 05, 2014
Time Frame: exit PRIOR to earnings on May 1st
Average Daily Volume = 2.2 million
New Positions: Yes, see below

Comments:
04/07/14: Whoa! It was a bumpy ride for INCY today. Shares went from $49.40 to $53.00 and back again before the day was over. If you can't handle the volatility it's okay to pass on this one.

The intraday low was $49.40. Our suggested entry point is $49.35.

Earlier Comments:
This newsletter considers biotech stocks to be aggressive, higher-risk trades. The stocks can see huge moves both up and down on headlines. I suggest traders use caution and limit their position size. We are suggesting a trigger to open bearish positions at $49.35. If triggered we will aim for $45.25. More aggressive traders can aim lower but the $45.00 level and the 200-dma could be support.

Trigger @ 49.35

Suggested Position: short INCY stock @ $49.35



Textura Corp. - TXTR - close: 21.51 change: -0.80

Stop Loss: 21.85
Target(s): 20.25
Current Gain/Loss: +12.6%

Entry on April 03 at $24.60
Listed on March 29, 2014
Time Frame: 4 to 8 weeks
Average Daily Volume = 386 thousand
New Positions: see below

Comments:
04/07/14: TXTR spiked down to $20.40 this morning. Traders bought the dip there for a few minutes before TXTR started to bounce. I am worried this is new support for the stock. More conservative traders may want to exit early now to lock in potential gains. We're going to risk keeping this play open but we'll move the stop loss down to $21.85. I'm not suggesting new positions.

Earlier Comments:
NOTE: Traders may want to use put options to limit their risk instead of shorting the stock.

*small positions*

current Position: short TXTR stock @ $24.60

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

Long JUN $22.50 PUT (TXTR1421R22.5) entry $2.35*

04/07/14 new stop @ 21.85
04/03/14 new stop @ 25.55
04/03/14 triggered @ 24.60




CLOSED BULLISH PLAYS

Delta Air Lines - DAL - close: 33.99 change: -0.62

Stop Loss: 34.25
Target(s): to be determined
Current Gain/Loss: -1.0%

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:
04/07/14: DAL is down four days in a row on profit taking. Today's drop hit our new stop loss at $34.25. I would keep DAL on your radar screen. The long-term trend for this stock is still higher. Watch for potential support at the 50-dma.

closed Position: long DAL stock @ $34.60 exit $34.25 (-1.0%)

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

May $35 call (DAL1417E35) entry $1.55* exit $1.35** (-12.9%)

04/07/14 stopped out
***option exit price is an estimate since the option did not trade at the time our play was closed.
04/05/14 new stop @ 34.25
03/28/14 triggered @ 34.60
*option entry price is an estimate since the option did not trade at the time our play was opened.

chart:



Genworth Financial - GNW - close: 17.07 change: -0.75

Stop Loss: 16.90
Target(s): 20.00
Current Gain/Loss: -5.1%

Entry on April 01 at $17.81
Listed on March 31, 2014
Time Frame: exit PRIOR to earnings on April 30th
Average Daily Volume = 7.4 million
New Positions: see below

Comments:
04/07/14: Financial stocks were some of the market's worst performers today. GNW underperformed its peers with a -4.2% drop. Shares hit our stop at $16.90.

closed Position: long GNW stock @ $17.81 exit $16.90 (-5.1%)

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

MAY $18 call (GNW1417E18) entry $0.70* exit $0.34** (-51.4%)

04/07/14 stopped out
*option exit price is an estimate since the option did not trade at the time our play was closed.
04/01/14 trade opens at $17.81
*option entry price is an estimate since the option did not trade at the time our play was opened.

chart:



Quanta Services, Inc. - PWR - close: 35.58 change: -0.87

Stop Loss: 35.75
Target(s): 39.85
Current Gain/Loss: - 0.8%

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:
04/07/14: The reversal in PWR continued on Monday, like so many other stocks did today. Shares sliced through potential support near $36.00 and hit our stop at $35.75.

closed Position: Long PWR stock @ $36.05 exit $35.75 (-0.8%)

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

Apr $35 call (PWR1419D35) entry $1.70* exit $1.10** (-35.2%)

04/07/14 stopped out
*option exit price is an estimate since the option did not trade at the time our play was closed.
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: