Editor's Note:
Tonight we are adjusting the entry point triggers on BBY and HPQ.

APOL and INCY hit our entry triggers today. TXTR hit our new stop.

We want to exit our AMAT trade tomorrow morning.


Current Portfolio:


BULLISH Play Updates

Applied Materials - AMAT - close: 19.85 change: -0.18

Stop Loss: 19.75
Target(s): to be determined
Current Gain/Loss: - 4.8%

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:
04/08/14: AMAT did not participate in the stock market's bounce today. That's troubling. Shares also closed below the $20.00 mark and its 20-dma. The intraday low was $19.78 and our stop is at $19.75. Instead of waiting to get stopped out we're suggesting an immediate exit tomorrow morning.

current Position: Long AMAT stock @ $20.85

04/08/14 prepare to exit tomorrow morning
04/03/14 triggered @ 20.85



Best Buy Co. Inc. - BBY - close: 27.37 change: +0.18

Stop Loss: 26.90
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:
04/08/14: BBY managed to outperform the S&P 500 today with a +0.6% bounce. We also noticed how traders bought the dip near $26.95 two days in a row. Tonight we are turning more aggressive on BBY and suggesting an entry trigger to open bullish positions at $27.55. However, we'll try and reduce our risk by moving the stop loss to $26.90. More conservative investors may want to wait for a rally past the January 16th high before initiating positions.

Trigger @ $27.55

Suggested Position: buy BBY stock @ (trigger)

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

Buy the May $28 call (BBY1417E28)

04/08/14 strategy update: use an entry trigger at $27.55, move the stop loss to $26.90 (old trigger was $28.30 and stop was $26.45).



Hewlett-Packard Co. - HPQ - close: 32.45 change: -0.25

Stop Loss: 31.55
Target(s): to be determined
Current Gain/Loss: unopened

Entry on April -- at $--.--
Listed on April 07, 2014
Time Frame: 6 to 8 weeks
Average Daily Volume = 14.0 million
New Positions: Yes, see below

Comments:
04/08/14: The action in HPQ was a little bit disappointing with a drop toward $32 and a close below its 10-dma. However, we do like the intraday bounce. We're going to take advantage of today's pullback and lower our suggested entry trigger to $32.85. Our stop will be unchanged at $31.55.

Earlier Comments:
Plan on exiting prior to HPQ's earnings report in late May.

Trigger @ $32.85

Suggested Position: buy HPQ stock @ (trigger)

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

Buy the May $33 call (HPQ1417E33) current ask $0.86

04/08/14 adjust the trigger from $33.15 to $32.85



BEARISH Play Updates

Apollo Education Group - APOL - close: 29.71 change: -0.44

Stop Loss: 31.85
Target(s): to be determined
Current Gain/Loss: + 0.5%

Entry on April 08 at $29.85
Listed on April 07, 2014
Time Frame: 6 to 8 weeks
Average Daily Volume = 2.2 million
New Positions: see below

Comments:
04/08/14: As expected shares of APOL continued to sink and broke down below support near $30.00. The stock hit our suggested entry point at $29.85 and underperformed the market with a -1.45% decline.

Earlier Comments:
We're not setting a target yet but probably in the $26-25 zone. The P&F chart for APOL is bearish with a $26 target.

Investors may want to use small positions to limit their risk. The most recent data listed short interest at 14% of the 98.2 million share float.

current Position: short APOL stock @ $29.85

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

Long May $30 PUT (APOL1417Q30) entry $1.45*

04/08/14 triggered @ 29.85
*option entry price is an estimate since the option did not trade at the time our play was opened.



Catamaran Corp. - CTRX - close: 41.28 change: -0.40

Stop Loss: 42.25
Target(s): to be determined
Current Gain/Loss: + 4.9%

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:
04/08/14: CTRX traded down to new relative lows at $40.72 before paring its losses. Shares underperformed the market with a -0.9% decline. I would not be surprised to see a bigger rebound from potential support at the $40.00 mark.

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: 49.05 change: -1.10

Stop Loss: 51.25
Target(s): 45.25
Current Gain/Loss: + 0.6%

Entry on April 08 at $49.35
Listed on April 05, 2014
Time Frame: exit PRIOR to earnings on May 1st
Average Daily Volume = 2.2 million
New Positions: see below

Comments:
04/08/14: Our new play on INCY is now open. Shares underperformed the market and broke down below support near $50.00. Our trigger to launch positions was hit at $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 will aim for $45.25. More aggressive traders can aim lower but the $45.00 level and the 200-dma could be support.

current Position: short INCY stock @ $49.35

04/08/14 triggered @ 49.35



CLOSED BEARISH PLAYS

Textura Corp. - TXTR - close: 22.62 change: +1.11

Stop Loss: 21.85
Target(s): 20.25
Current Gain/Loss: +11.2%

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:
04/08/14: It's a good thing we lowered our stop loss on TXTR last night. Shares outperformed the market today with a big +5.1% bounce. Our stop was hit pretty early today at $21.85.

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

*small positions*

closed Position: short TXTR stock @ $24.60 exit $21.85 (+11.2%)

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

JUN $22.50 PUT (TXTR1421R22.5) entry $2.35* exit $3.05** (+29.7%)

04/08/14 stopped out
**option exit price is an estimate since the option did not trade at the time our play was closed.
04/07/14 new stop @ 21.85
04/03/14 new stop @ 25.55
04/03/14 triggered @ 24.60
*option entry price is an estimate since the option did not trade at the time our play was opened.

chart: