Editor's Note:
The small cap Russell 2000 index underperformed its big cap rivals today with a -0.2% drop versus a +0.1% gain in the S&P 500.

Stocks were volatile this morning as investors reacted to geopolitical concerns over Russian troop movements.

RAX hit our entry trigger. WFM hit our stop loss.


Current Portfolio:


BULLISH Play Updates

CenturyLink, Inc. - CTL - close: 34.63 change: +0.02

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:
04/24/14: CTL's attempt at a bounce struggled near last week's highs. I am not suggesting new positions at this time.

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: 31.58 change: +0.02

Stop Loss: 29.95
Target(s): to be determined
Current Gain/Loss: + 1.4%

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:
04/24/14: Shares of Caterpillar (CAT) rallied on its earnings news but this did not translate into any sort of gains for MTW. Today's performance in MTW looks a lot like yesterday's. I would not be surprised to see shares dip lower soon. We expect $30.00 to hold as support.

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: 22.33 change: -0.18

Stop Loss: 20.90
Target(s): to be determined
Current Gain/Loss: + 4.1%

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:
04/24/14: The action in PPC is potentially bearish. Technically today's move has produced a bearish engulfing candlestick reversal pattern. The stock is in jeopardy of breaking its streak of ten up weeks in a row.

More conservative investors may want to raise their stop loss closer to the $21.75-22.00 area. I am not suggesting new positions.

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: $30.60 change: -0.03

Stop Loss: 28.45
Target(s): to be determined
Current Gain/Loss: + 1.2%

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:
04/24/14: TPC can't seem to keep any upward momentum going. Shares have essentially churned sideways the last few days. I am not suggesting new positions at this time.

current Position: Long TPC stock @ $30.25

04/14/14 triggered @ 30.25



The WhiteWave Foods Company - WWAV - close: 28.34 change: -0.35

Stop Loss: 25.75
Target(s): to be determined
Current Gain/Loss: - 1.4%

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:
04/24/14: WWAV was an underperformer today. Yesterday's intraday pullback continued today and shares briefly pierced technical support at the simple 50-dma. More conservative investors may want to adjust their stop loss higher. If WWAV breaks through the $28 level it's probably headed for $27.00.

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: 34.09 change: -0.05

Stop Loss: 35.25
Target(s): to be determined
Current Gain/Loss: - 0.2%

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:
04/24/14: DSW spent Thursday's session drifting sideways near the $34.00 level. This stock could bounce tomorrow if it reacts to earnings from shoemaker Deckers (DECK). DECK beat estimates and the stock is up strong after hours tonight. This could pressure DSW higher tomorrow morning.

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: 26.99 change: +0.02

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:
04/24/14: GES is still flirting with support near $27.00. The intraday low was $26.79. I don't see any changes from my earlier comments.

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: 30.25 change: -0.13

Stop Loss: 32.05
Target(s): to be determined
Current Gain/Loss: - 1.7%

Entry on April 24 at $29.75
Listed on April 22, 2014
Time Frame: 3 to 4 weeks
Average Daily Volume = 2.7 million
New Positions: see below

Comments:
04/24/14: RAX fell to new multi-year lows before paring its losses and closing back above round-number support at $30.00. Today's intraday low just happens to be $29.75. That was our suggested entry point to initiate bearish positions. Our play is now open but I am not suggesting new positions until we see RAX back below $29.75.

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.

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.

current Position: short RAX @ $29.75

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

Long May $30 PUT (RAX1417Q30) entry $2.00*

04/24/14 triggered @ 29.75
*option entry price is an estimate since the option did not trade at the time our play was opened.



CLOSED BEARISH PLAYS

Whole Foods Market - WFM - close: 51.02 change: +1.22

Stop Loss: 50.35
Target(s): to be determined
Current Gain/Loss: - 4.4%

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:
04/24/14: The move in WFM looks like short covering. I don't see any company specific news to explain the rally this morning. I checked news on WFM's rivals and didn't see anything. The market gapped open this morning and with WFM's pop above resistance at $50.00 it probably sparked some short covering and shares surged +2.4%. Our stop was hit pretty early at $50.35.

closed Position: short WFM stock @ $48.23 exit $50.35 (-4.4%)

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

May $47.50 PUT (WFM1417Q47.5) entry $1.60 exit $0.82* (-48.7%)

04/24/14 stopped out
*option exit price is an estimate since the option did not trade at the time our play was closed.
04/21/14 WFM opened at $48.23

chart: