Editor's Note:
We have updated several stop losses following Friday's market decline.

GES hit our bearish entry point.


Current Portfolio:


BULLISH Play Updates

CenturyLink, Inc. - CTL - close: 34.76 change: +0.13

Stop Loss: 34.25
Target(s): to be determined
Current Gain/Loss: +1.2%

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:
04/26/14: CTL dipped to its simple 10-dma and bounced on Friday. Shares displayed some relative strength with a +0.3% gain. We are moving our stop loss higher to 434.25.

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*

04/26/14 new stop @ 34.25
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.

chart:



Manitowoc Company - MTW - close: 30.77 change: -0.81

Stop Loss: 29.95
Target(s): to be determined
Current Gain/Loss: - 1.2%

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:
04/26/14: Ouch! It was a rough day for MTW shares on Friday with a -2.5% decline. The stock retreated to its 50-dma. If there is any follow through lower we could see MTW testing the $30 level soon. More conservative traders may want to exit early now. We only have a few days left. MTW reports earnings on May 1st and we plan to exit prior to the announcement.

current Position: Long MTW stock @ $31.15

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

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

04/26/14 plan to exit prior to earnings on May 1st
04/17/14 triggered @ 31.15

chart:



Pilgrim's Pride Corp. - PPC - close: 21.68 change: -0.65

Stop Loss: 21.10
Target(s): to be determined
Current Gain/Loss: + 1.1%

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:
04/26/14: PPC also had a rough time on Friday with a -2.9% decline. Unfortunately that follows Thursday's bearish reversal candlestick pattern. More conservative traders may want to exit immediately!

We are moving the stop loss to $21.10 and we'll plan on exiting prior to earnings on April 30th, due out after the closing bell.

current Position: Long PPC stock @ $21.45

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

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

04/26/14 new stop @ 21.10
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.

chart:



Tutor Perini Corp. - TPC - close: $30.19 change: -0.41

Stop Loss: 29.45
Target(s): to be determined
Current Gain/Loss: - 0.2%

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:
04/26/14: TPC lost -1.3% on Friday and looks like it will test support near $30.00 again soon. We are moving our stop loss to $29.45. More conservative investors may want to move their stop closer to $30.00. I am not suggesting new positions at this time.

current Position: Long TPC stock @ $30.25

04/26/14 new stop @ 29.45
04/14/14 triggered @ 30.25

chart:



The WhiteWave Foods Company - WWAV - close: 27.82 change: -0.52

Stop Loss: 27.35
Target(s): to be determined
Current Gain/Loss: - 3.2%

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:
04/26/14: It was not a good week for WWAV with a reversal on Wednesday and then Friday's drop below its 50-dma. Conservative investors may want to exit immediately. We are moving the stop loss to $27.35.

current Position: Long WWAV stock @ $28.75

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

Long Jul $30 call (WWAV1419G30) entry $1.25

04/26/14 new stop @ 27.35
04/21/14 triggered @ $28.75

chart:



BEARISH Play Updates

DSW Inc. - DSW - close: 33.41 change: -0.68

Stop Loss: 34.55
Target(s): to be determined
Current Gain/Loss: + 1.8%

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:
04/26/14: DSW continues to sink as expected. Shares lost another -1.99% on Friday and closed at new lows for the year. We are moving our stop loss down to $34.55.

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

04/26/14 new stop loss @ 34.55

chart:



Guess' Inc. - GES - close: 26.74 change: -0.25

Stop Loss: 27.55
Target(s): 23.00
Current Gain/Loss: - 0.3%

Entry on April 25 at $26.65
Listed on April 21, 2014
Time Frame: 6 to 8 weeks
Average Daily Volume = 871 thousand
New Positions: see below

Comments:
04/26/14: After trying to hold support near $27 all week GES finally broke down to new relative lows. Shares hit our suggested entry point at $26.65. We are adjusting our stop loss down to $27.55.

Current Position: short GES stock @ $26.65

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

Long Jun $27 PUT (GES1421R27) entry $1.70*

04/26/14 new stop @ 27.55
04/25/14 triggered @ 26.65
*option entry price is an estimate since the option did not trade at the time our play was opened.

chart:



Rackspace Hosting, Inc. - RAX - close: 28.95 change: -1.30

Stop Loss: 31.15
Target(s): to be determined
Current Gain/Loss: + 2.7%

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:
04/26/14: RAX accelerated lower on Friday with a breakdown below $30.00. Shares underperformed the market with a -4.29% loss. We are moving our stop loss down to $31.15. Nimble traders could wait for a bounce back toward $30.00, which should be new resistance, as another entry point for bearish positions.

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*

04/26/14 new stop @ 31.15
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.

chart: