Editor's Note:
The U.S. market's ended a six-day rebound with relatively light but widespread declines on Wednesday.


Current Portfolio:


BULLISH Play Updates

CenturyLink, Inc. - CTL - close: 34.61 change: +0.16

Stop Loss: 32.95
Target(s): to be determined
Current Gain/Loss: +0.8%

Entry on April 16 at $34.35
Listed on April 14, 2014
Time Frame: exit PRIOR to earnings on May 7th
Average Daily Volume = 5.5 million
New Positions: see below

Comments:
04/23/14: After seeing its upward momentum stall the last few days CTL finally showed a little relative strength with a +0.4% gain. While today's move is encouraging I would not be surprised to see CTL dip to the $34.00 level if the market rolls over this week.

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

current Position: long CTL stock @ $34.35

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

Long May $34 call (CTL1417E34) entry $0.95*

04/16/14 new stop @ 33.35
04/16/14 triggered @ 34.35
*option entry price is an estimate since the option did not trade at the time our play was opened.



Manitowoc Company - MTW - close: 31.56 change: -0.25

Stop Loss: 29.95
Target(s): to be determined
Current Gain/Loss: + 1.3%

Entry on April 17 at $31.15
Listed on April 16, 2014
Time Frame: Potential exit PRIOR to earnings on May 1st
Average Daily Volume = 2.1 million
New Positions: see below

Comments:
04/23/14: Hmm... the action in MTW today looks a little bit ominous. Shares rallied past the $32 level this morning and then gave back all of its gains to close negative on the session. I suspect we will see MTW dip into the $30.50-31.00 zone soon.

current Position: Long MTW stock @ $31.15

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

Long May $30 call (MTW1417E30) entry $2.05*

04/17/14 triggered @ 31.15



Pilgrim's Pride Corp. - PPC - close: 22.51 change: +0.04

Stop Loss: 20.90
Target(s): to be determined
Current Gain/Loss: + 4.9%

Entry on April 15 at $21.45
Listed on April 14, 2014
Time Frame: exit PRIOR to earnings on April 30th
Average Daily Volume = 914 thousand
New Positions: see below

Comments:
04/23/14: PPC spent today's session drifting sideways. Shares could be facing new short-term resistance near the $22.50 area. I am not suggesting new positions at this time.

Please note our new stop loss at $20.90.

Earlier Comments:
This is currently a short-term trade. We plan to exit prior to PPC's earnings report on April 30th. However, we might be tempted to hold over the announcement.

FYI: The Point & Figure chart for PPC is bullish with a long-term $35.50 target.

current Position: Long PPC stock @ $21.45

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

Long May $20 call (PPC1417E20) entry $2.10*

04/23/14 new stop @ 20.90
04/21/14 new stop @ 20.75
04/15/14 triggered @ 21.45
*option entry price is an estimate since the option did not trade at the time our play was opened.



Tutor Perini Corp. - TPC - close: $30.63 change: +0.07

Stop Loss: 28.45
Target(s): to be determined
Current Gain/Loss: + 1.3%

Entry on April 14 at $30.25
Listed on April 12, 2014
Time Frame: 6 to 8 weeks
Average Daily Volume = 255 thousand
New Positions: see below

Comments:
04/23/14: TPC quietly tagged another new relative high this morning. If the market turns south tomorrow we could see this stock retesting the $30 level or its 10-dma (near $29.85).

current Position: Long TPC stock @ $30.25

04/14/14 triggered @ 30.25



The WhiteWave Foods Company - WWAV - close: 28.69 change: +0.18

Stop Loss: 25.75
Target(s): to be determined
Current Gain/Loss: - 0.2%

Entry on April 21 at $28.75
Listed on April 19, 2014
Time Frame: 4 to 8 weeks, depending on earnings
Average Daily Volume = 1.5 million
New Positions: see below

Comments:
04/23/14: This morning shares of WWAV received a new "buy" rating and a $32 price target. The stock reacted with a gap open higher and a rally to $29.43. Unfortunately WWAV gave back all of its intraday gains to close negative, which doesn't inspire a lot of confidence. I am not suggesting new positions at this time. Look for short-term support near $28 and its 50-dma.

Earlier Comments:
Earnings are coming up in about three to four weeks. We'll decide then if we plan to exit prior to the report or hold over the announcement.

current Position: Long WWAV stock @ $28.75

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

Long Jul $30 call (WWAV1419G30) entry $1.25

04/21/14 triggered @ $28.75



BEARISH Play Updates

DSW Inc. - DSW - close: 34.14 change: -0.50

Stop Loss: 35.25
Target(s): to be determined
Current Gain/Loss: - 0.4%

Entry on April 21 at $34.02
Listed on April 19, 2014
Time Frame: 6 to 8 weeks
Average Daily Volume = 1.25 million
New Positions: Yes, see below

Comments:
04/23/14: Right on cue DSW reversed near resistance at the $35 level. Shares underperformed the market with a -1.4% decline. Readers could use today's move as a new entry point for bearish positions.

Earlier Comments:
We're not setting a target yet but $30.00 would be a good start. The Point & Figure chart for DSW is bearish with a $26.00 target.

current Position: short DSW stock @ $34.02



Guess' Inc. - GES - close: 26.97 change: -0.11

Stop Loss: 27.85
Target(s): 23.00
Current Gain/Loss: unopened

Entry on April -- at $--.--
Listed on April 21, 2014
Time Frame: 6 to 8 weeks
Average Daily Volume = 871 thousand
New Positions: Yes, see below

Comments:
04/23/14: GES is edging closer to the edge of the abyss with another decline. Today's intraday low was $26.89.

Earlier Comments:
The stock is technically bearish with a pattern of lower highs that is pushing GES against major support near $27.00. The February intraday low was $26.76. I am suggesting a trigger to open bearish positions at $26.65. If triggered our target is $23.00 but we will plan on exiting prior to GES' earnings in late May.

Trigger @ 26.65

Suggested Position: short GES stock @ (trigger)

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

Buy the Jun $27 PUT (GES1421R27) current ask $1.55



Rackspace Hosting, Inc. - RAX - close: 30.38 change: +0.10

Stop Loss: 32.05
Target(s): to be determined
Current Gain/Loss: unopened

Entry on April -- at $--.--
Listed on April 22, 2014
Time Frame: 3 to 4 weeks
Average Daily Volume = 2.7 million
New Positions: Yes, see below

Comments:
04/23/14: RAX tried to bounce from round-number support near $30.00 but the rebound failed near the $31 level. I don't see any changes from last night's new play description.

Earlier Comments:
There are already a lot of bears in RAX. The most recent data listed short interest at 19% of the 116.9 million share float. That can make any bounce in RAX a potential short squeeze. I would consider this a higher-risk, more aggressive trade.

Right now RAX is suffering with a bearish trend of lower highs that is about to push it through support at $30.00. The April 15th low was $29.84. I am suggesting a trigger at $29.75. We are not setting a bearish target just yet. RAX is expected to report earnings in mid May but no official announcement date has been set. We will most likely exit prior to their earnings report.

Considering the high short interest I would probably prefer to limit risk with a put option. FYI: The Point & Figure chart for RAX is bearish with a $21.00 target.

Trigger @ 29.75

Suggested Position: short RAX @ (trigger)

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

Buy the May $30 PUT (RAX1417Q30)



Whole Foods Market - WFM - close: 49.80 change: +0.47

Stop Loss: 50.35
Target(s): to be determined
Current Gain/Loss: - 3.3%

Entry on April 21 at $48.23
Listed on April 19, 2014
Time Frame: exit PRIOR to earnings on May 6th
Average Daily Volume = 4.4 million
New Positions: see below

Comments:
04/23/14: Warning! WFM did not see any follow through on yesterday's afternoon pullback from resistance at $50.00. Instead shares outperformed the broader market with a +0.9% gain today. That's troubling. More conservative traders might want to inch their stops down closer to the $50.00 level. I am not suggesting new positions at this time.

Earlier Comments:
We're not setting an exit target tonight but plan on exiting prior to earnings on May 6th. The point & figure chart has turned bearish with a triple-bottom sell signal and a $42 target.

current Position: short WFM stock @ $48.23

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

Long May $47.50 PUT (WFM1417Q47.5) entry $1.60

04/21/14 WFM opened at $48.23