Editor's Note:
Stocks produced widespread gains on Tuesday. Meanwhile we are closing our chicken trade (PPC) before earnings are reported.

We want to exit our MTW trade tomorrow.


Current Portfolio:


BULLISH Play Updates

CenturyLink, Inc. - CTL - close: 34.80 change: +0.16

Stop Loss: 34.25
Target(s): to be determined
Current Gain/Loss: +1.3%

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:
04/29/14: CTL managed to hit new relative highs today but the rally struggled in the $34.90 area. I am not suggesting new positions.

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.



Manitowoc Company - MTW - close: 31.56 change: +0.65

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:
04/29/14: MTW outperformed the market with a +2.1% bounce. Shares look poised to move higher unfortunately we are running out of time. The plan is to exit this trade tomorrow, April 30th, at the closing bell. We do not want to hold over earnings on May 1st.

current Position: Long MTW stock @ $31.15

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

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

04/29/14 prepare to exit tomorrow at the close
04/26/14 plan to exit prior to earnings on May 1st
04/17/14 triggered @ 31.15



BEARISH Play Updates

DSW Inc. - DSW - close: 33.64 change: +0.94

Stop Loss: 34.55
Target(s): to be determined
Current Gain/Loss: + 1.1%

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:
04/29/14: Shares of DSW were upgraded this morning and that may have sparked some short covering. DSW shot higher and closed up +2.8% but remains under resistance near $34.00 and its 10-dma.

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



Guess' Inc. - GES - close: 26.84 change: +0.25

Stop Loss: 27.55
Target(s): 23.00
Current Gain/Loss: - 0.7%

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:
04/29/14: GES saw its early morning bounce stall near $26.90 and shares drifted sideways the rest of the session. Traders may want to wait for this bounce to fail before initiating new positions.

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.



Johnson Controls Inc. - JCI - close: 44.14 change: +0.50

Stop Loss: 45.75
Target(s): to be determined
Current Gain/Loss: - 0.9%

Entry on April 28 at $43.75
Listed on April 26, 2014
Time Frame: 6 to 8 weeks
Average Daily Volume = 3.5 million
New Positions: see below

Comments:
04/29/14: The widespread market gains helped JCI produce an oversold bounce. The stock recovered a good chunk of yesterday's losses. Broken support near $45.00 and its 200-ema should be resistance.

Earlier Comments:
The Point & Figure chart for JCI is bearish with a $40.00 target.

Current Position: short JCI stock @ $43.75

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

Long Jul $40 PUT (JCI1419S40) entry $0.63*

04/28/14 triggered @ 43.75
*option entry price is an estimate since the option did not trade at the time our play was opened.



Rackspace Hosting, Inc. - RAX - close: 28.82 change: +0.66

Stop Loss: 31.15
Target(s): to be determined
Current Gain/Loss: + 3.1%

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:
04/29/14: RAX also participated in the market's widespread gains today. Shares added +2.3% but remain below resistance near $30.00 and its 10-dma. I am not suggesting new positions at this time.

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.



Symantec Corp. - SYMC - close: 20.16 change: +0.09

Stop Loss: 20.65
Target(s): 18.10
Current Gain/Loss: unopened

Entry on April -- at $--.--
Listed on April 28, 2014
Time Frame: exit PRIOR to earnings on May 8th
Average Daily Volume = 9.4 million
New Positions: Yes, see below

Comments:
04/29/14: SYMC saw a spike higher right at the opening bell but it immediately reversed after nearing potential resistance in the $20.50 area. SYMC spent most of the session drifting sideways. There is no change from last night's new play description.

Earlier Comments:
Shares currently sit on round-number support at $20.00. We're suggesting at trigger for bearish positions at $19.90. Our short-term target is $18.10. We do not want to hold over the earnings report on May 8th. More aggressive traders may want to speculate on holding over the report. The Point & Figure chart for SYMC is very bearish with an $11.00 target.

Trigger @ 19.90

Suggested Position: short SYMC stock @ (trigger)

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

Buy the May $20 PUT (SYMC1417Q20)



Youku Tudou Inc. - YOKU - close: 22.70 change: -0.12

Stop Loss: 25.05
Target(s): to be determined
Current Gain/Loss: + 3.2%

Entry on April 28 at $23.45
Listed on April 26, 2014
Time Frame: 6 to 8 weeks
Average Daily Volume = 4.1 million
New Positions: see below

Comments:
04/29/14: YOKU bounced up to $23.40 before fading lower the rest of the session. Broken support in the $23.50-24.00 area should be new resistance. If you're willing to handle the volatility then traders could still launch bearish positions here.

Earlier Comments:
I would consider this an aggressive trade because YOKU can be a volatile stock and the most recent data listed short interest at 8% of the 80.6 million share float. FYI: The P&F chart is very bearish and forecasting at $10 target.

*small positions*

current Position: short YOKU stock @ $23.45

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

Long Jun $20 PUT (YOKU1421R20) entry $1.05

04/28/14 triggered @ 23.45




CLOSED BULLISH PLAYS

Pilgrim's Pride Corp. - PPC - close: 21.50 change: -0.02

Stop Loss: 21.10
Target(s): to be determined
Current Gain/Loss: + 0.2%

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:
04/29/14: Shares of PPC didn't move much ahead of tomorrow's earnings report. The stock just drifted sideways. Our plan was to exit today at the closing bell to avoid holding over earnings tomorrow.

closed Position: Long PPC stock @ $21.45 exit $21.50 (+0.2%)

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

May $20 call (PPC1417E20) entry $2.10* exit $1.75 (-16.6%)

04/29/14 planned exit
04/28/14 plan to exit tomorrow at the closing bell
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: