Editor's Note:
The NASDAQ and Russell 2000, recent underperformers, turned outperformers today as traders bought a number of unloved stocks today.

BBY, HPQ, and TSL hit our entry triggers. AMAT was closed. INCY hit our stop loss.


Current Portfolio:


BULLISH Play Updates

Best Buy Co. Inc. - BBY - close: 27.36 change: -0.01

Stop Loss: 26.90
Target(s): to be determined
Current Gain/Loss: - 0.7%

Entry on April 09 at $27.55
Listed on April 05, 2014
Time Frame: 6 to 8 weeks
Average Daily Volume = 5.4 million
New Positions: see below

Comments:
04/09/14: Yesterday we decided to be more aggressive on our BBY trade and moved the suggested entry point to $27.55. The stock rallied this afternoon and hit $27.55 but shares reversed to close virtually unchanged. That doesn't inspire a lot of confidence on a day the rest of the market is in rally mode.

More conservative investors may want to wait for a rally past the January 16th high before initiating positions.

current Position: long BBY stock @ $27.55

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

Long May $28 call (BBY1417E28) entry $0.94

04/09/14 triggered @ 27.55
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: 32.72 change: +0.27

Stop Loss: 31.55
Target(s): to be determined
Current Gain/Loss: - 0.4%

Entry on April 09 at $32.85
Listed on April 07, 2014
Time Frame: 6 to 8 weeks
Average Daily Volume = 14.0 million
New Positions: see below

Comments:
04/09/14: HPQ was making headlines today. The company agreed to a $108 million settlement with the DoJ and the SEC over "potential" violations of the foreign Corrupt Practices Act. The investigation focused on HPQ conduct in Poland and Russia. The $108 million bill sounds like a lot but HPQ's annual revenue is $112 billion with gross profits nearing $26 billion.

HPQ did hit our new entry trigger at $32.85 but just barely. The intraday high was $32.88. Readers may want to wait for a rally past $33.00 before initiating new positions.

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

current Position: Long HPQ stock @ $32.85

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

Long May $33 call (HPQ1417E33) entry $0.96

04/09/14 triggered @ 32.85
04/08/14 adjust the trigger from $33.15 to $32.85



Trina Solar Limited - TSL - close: 13.52 change: +0.53

Stop Loss: 12.40
Target(s): to be determined
Current Gain/Loss: +1.8%

Entry on April 09 at $13.15
Listed on April 08, 2014
Time Frame: 6 to 8 weeks
Average Daily Volume = 5.2 million
New Positions: see below

Comments:
04/09/14: Our new trade on TSL is open. The stock was showing relative strength today with a +4.0% gain. Unfortunately a good chunk of that was with the gap open higher at $13.28. Our plan was to open bullish positions at $13.15 so the gap higher triggered our play. The stock did see an intraday dip back to $13.10 before traders bought the dip and pushed it back toward the 10-dma.

Earlier Comments:
The stock could see some short covering. The most recent data listed short interest at 15% of the 65.8 million-share float. I am labeling this an aggressive, higher-risk trade because TSL can be so volatile. Therefore I am suggesting small positions to limit our exposure.

*small positions*

current Position: long TSL stock @ $13.28

04/09/14 triggered on gap higher at $13.28. suggested trigger was $13.15



BEARISH Play Updates

Apollo Education Group - APOL - close: 28.68 change: -1.03

Stop Loss: 31.85
Target(s): to be determined
Current Gain/Loss: + 3.9%

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:
04/09/14: Bearish analyst comments on APOL today helped push the stock lower. Seeing APOL down -3.4% on a day most of the market was higher is good news for the bears. I do want to caution traders that the 150-dma near $27.70 and the exponential 200-dma near $27.55 could both be potential support. APOL also has some price congestion in the $27.00 area, this too could offer some support.

I am not suggesting new positions at this time.

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: 41.89 change: +0.61

Stop Loss: 42.25
Target(s): to be determined
Current Gain/Loss: + 3.5%

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:
04/09/14: After a five-day plunge shares of CTRX finally produced an oversold bounce and gained +1.4% today. If there is any follow through tomorrow we could see shares hit our stop at $42.25.

Earlier Comments:
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.



Gogo Inc. - GOGO - close: 19.36 change: +1.23

Stop Loss: 19.55
Target(s): to be determined
Current Gain/Loss: unopened

Entry on April -- at $--.--
Listed on April 08, 2014
Time Frame: 6 to 8 weeks
Average Daily Volume = 3.1 million
New Positions: Yes, see below

Comments:
04/09/14: GOGO announced a deal with Air Canada today. This news, along with the market's bounce, has sparked some short covering. GOGO closed up +6.78%. At the moment we are on the sidelines waiting for a breakdown below support near $18.00.

Earlier Comments:
We are suggesting a trigger for bearish positions at $17.95. Investors may want to use small positions or consider using put options to limit their risk. There are already a lot of bears in this name. The most recent data listed short interest at 31% of the small 30.9 million share float. There is definitely fuel for a short squeeze but that doesn't guarantee one. The Point & Figure chart for GOGO is bearish with an $11.00 target.

Trigger @ $17.95 *small positions*

Suggested Position: short GOGO stock @ (trigger)

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

Buy the MAY $17.50 PUT (GOGO1417Q17.5)




CLOSED BULLISH PLAYS

Applied Materials - AMAT - close: 19.99 change: +0.14

Stop Loss: 19.75
Target(s): to be determined
Current Gain/Loss: - 4.2%

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:
04/09/14: AMAT has been underperforming. That's why we decided in last night's newsletter to exit positions this morning. AMAT opened at $19.97.

closed Position: Long AMAT stock @ $20.85 exit $19.97 (-4.2%)

04/09/14 planned exit
04/08/14 prepare to exit tomorrow morning
04/03/14 triggered @ 20.85

chart:



CLOSED BEARISH PLAYS

Incyte Corp. - INCY - close: 52.01 change: +2.96

Stop Loss: 51.25
Target(s): 45.25
Current Gain/Loss: - 3.9%

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:
04/09/14: Biotechs produced some of the biggest bounces today. The IBB surged +4.0%. Shares of INCY, after underperforming yesterday, completely erased Tuesday's losses with a big +6.0% bounce today. Our stop loss was hit at $51.25.

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.

closed Position: short INCY stock @ $49.35 exit $51.25 (-3.9%)

04/09/14 stopped out
04/08/14 triggered @ 49.35

chart: