Editor's Note:
The U.S. market reversed sharply lower following a two-day bounce.

BBY, TSL and CTRX were stopped out.


Current Portfolio:


BULLISH Play Updates

Analog Devices, Inc. - ADI - close: 52.49 change: -1.81

Stop Loss: 52.75
Target(s): 59.75
Current Gain/Loss: unopened

Entry on April -- at $--.--
Listed on April 09, 2014
Time Frame: 6 to 8 weeks
Average Daily Volume = 2.4 million
New Positions: Yes, see below

Comments:
04/10/14: Technology stocks were some of the worst performers today. The NASDAQ composite fell -3.1%. ADI plunged -3.3%. Our trade is not open yet. The plan was to open bullish positions at $54.55. I am suggesting we wait and watch to see how ADI interacts with the $52.00 level, which should be support. If we see a bounce there we might adjust our entry point strategy.

Earlier Comments:
I am suggesting a trigger to open bullish positions at $54.55. If triggered our target is $59.75.

Trigger @ 54.55

Suggested Position: buy ADI stock @ (trigger)

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

Buy the May $55 call (ADI1417E55)



Hewlett-Packard Co. - HPQ - close: 32.80 change: +0.08

Stop Loss: 31.55
Target(s): to be determined
Current Gain/Loss: - 0.2%

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:
04/10/14: HPQ garnered a new "buy" rating this morning and the stock reacted with a gap open higher. Shares briefly hit new multi-year highs before reversing. Gains faded to +0.24% on the session. That's not much but it's better than the -2.0% drop in the S&P 500.

Considering the market's widespread weakness I would hesitate to launch new positions here.

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



BEARISH Play Updates

Apollo Education Group - APOL - close: 27.86 change: -0.82

Stop Loss: 30.25
Target(s): to be determined
Current Gain/Loss: + 6.7%

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:
04/10/14: The weakness in APOL continued with a -2.8% drop today. I want to caution traders that APOL is testing potential support near its 150-dma and its exponential 200-dma. Considering that APOL is now down seven days in a row shares are probably due for a bounce. We're moving the stop loss to $30.25.

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*

04/10/14 new stop @ 30.25, APOL could bounce from here
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.



Gogo Inc. - GOGO - close: 19.56 change: +0.20

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:
04/10/14: Shares of GOGO popped higher again for its second day in a row. The stock was up more than +10% after announcing a services agreement with Boeing (BA).

Chart readers will note that today's rally failed at GOGO's six-week trend of lower highs (and near its 50-dma). This might be a new entry point for bearish positions. However, after showing relative strength two days in a row, I am not suggesting new trades at the moment. Let's see how GOGO performs tomorrow. We'll re-evaluate our entry idea or remove GOGO as a candidate.

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

Best Buy Co. Inc. - BBY - close: 26.21 change: -1.15

Stop Loss: 26.90
Target(s): to be determined
Current Gain/Loss: - 2.4%

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:
04/10/14: Our aggressive bet to jump in early on BBY did not pay off. If we had waited for a breakout past the January gap we'd still be sitting on the sidelines. Unfortunately the market's midweek bounce has reversed. BBY underperformed with a -4.2% plunge and hit our stop at $26.90 along the way.

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

closed Position: long BBY stock @ $27.55 exit $26.90 (-2.4%)

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

May $28 call (BBY1417E28) entry $0.94 exit $0.68* (-27.6%)

04/10/14 stopped out
*option exit price is an estimate since the option did not trade at the time our play was closed.
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).

chart:



Trina Solar Limited - TSL - close: 12.02 change: -1.50

Stop Loss: 12.40
Target(s): to be determined
Current Gain/Loss: -6.6%

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:
04/10/14: I cautioned readers that TSL was an aggressive, higher-risk trade due to its volatility. Sadly it proved me correct with a -11.0% plunge during today's session. The NASDAQ composite fell -3.1% but the solar names underperformed. The TAN ETF dropped -5.7%. I don't see any particular news to account for TSL's relative weakness. Our stop was hit at $12.40.

Earlier Comments:
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*

closed Position: long TSL stock @ $13.28 exit $12.40 (-6.6%)

04/10/14 stopped out
04/09/14 triggered on gap higher at $13.28. suggested trigger was $13.15

chart:



CLOSED BEARISH PLAYS

Catamaran Corp. - CTRX - close: 39.40 change: -2.49

Stop Loss: 42.25
Target(s): to be determined
Current Gain/Loss: + 1.6%

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:
04/10/14: CTRX continues to underperform just as we expected. The stock fell -5.9% today and was down -9.5% at its worst levels of the session. Unfortunately, the newsletter was technically stopped out this morning.

Shares gapped open higher at $42.71 before plunging. Was it a bad tick? Sadly no. There were two trades for $42.71 at 100 shares each right at 09:30:00 a.m. on the ARCA exchange (formerly the Pacific Stock Exchange). CTRX did not trade above $42.00 the rest of the session.

Instead of being up +9.2% on this trade we were closed at $42.71 this morning, which reduces our potential gains to +1.6%.

closed Position: short CTRX stock @ $43.40 exit $42.71 (+1.6%)

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

May $45 PUT (CTRX1417Q45) entry $2.90* exit $3.50** (+20.6%)

04/10/14 stopped out on gap higher at $42.71
**option exit price is an estimate since the option did not trade at the time our play was closed.
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.

chart: