Editor's Note:
Stocks initially sank this morning on the disappointing Q1 GDP number but equities bounce this afternoon. The small cap Russell 2000 actually outperformed the big cap indices.

Our MTW trade was closed today.


Current Portfolio:


BULLISH Play Updates

CenturyLink, Inc. - CTL - close: 34.91 change: +0.11

Stop Loss: 34.25
Target(s): to be determined
Current Gain/Loss: +1.6%

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:
04/30/14: The afternoon rally in CTL left shares at a new multi-month high. 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.



BEARISH Play Updates

Arctic Cat Inc. - ACAT - close: 40.89 change: +0.41

Stop Loss: 41.25
Target(s): to be determined
Current Gain/Loss: unopened

Entry on April -- at $--.--
Listed on April 29, 2014
Time Frame: about 2 weeks
Average Daily Volume = 159 thousand
New Positions: Yes, see below

Comments:
04/30/14: ACAT bounced from support near $40.00 but the overall trend remains lower. I don't see any changes from last night's new play description.

Earlier Comments:
This is going to be a relatively short-term trade. The company is due to report earnings in mid May. No date has been set yet but it's probably two, maybe three weeks out.

Tonight we're suggesting a trigger for bearish positions at $39.75. We are not setting an exit target yet. I will note that the Point & Figure chart for ACAT is bearish with a $31.00 target.

Trigger @ $39.75

Suggested Position: short ACAT stock @ (trigger)

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

Buy the May $40 PUT (ACAT1417Q40)



DSW Inc. - DSW - close: 33.39 change: -0.25

Stop Loss: 34.55
Target(s): to be determined
Current Gain/Loss: + 1.9%

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: see below

Comments:
04/30/14: DSW is struggling with resistance at its simple 10-dma again. This could be used as a new entry point.

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: 26.91 change: +0.07

Stop Loss: 27.55
Target(s): 23.00
Current Gain/Loss: - 1.0%

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:
04/30/14: GES is still bouncing but it has yet to crack the $27.00 level. 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: 45.14 change: +1.00

Stop Loss: 45.75
Target(s): to be determined
Current Gain/Loss: - 3.2%

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:
04/30/14: Warning! JCI's bounce is gaining steam. Shares closed above what should have been resistance near $45.00 and its exponential 200-dma. More conservative traders may want to abandon ship. I am not suggesting new positions.

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: 29.02 change: +0.20

Stop Loss: 31.15
Target(s): to be determined
Current Gain/Loss: + 2.5%

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:
04/30/14: RAX rebounded off the $28 level this morning. Shares look like they might challenge resistance near $30.00 or its 10-dm soon. 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: 20.28 change: +0.12

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:
04/30/14: SYMC is not cooperating with another bounce from support near $20.00. If shares do not break down soon we'll drop it. Earnings are coming up on the 8th.

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: 22.29 change: -0.41

Stop Loss: 25.05
Target(s): to be determined
Current Gain/Loss: + 4.9%

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:
04/30/14: YOKU fell to new relative lows near $21.50 before paring its losses. Shares still underperformed the U.S. market with a -1.8% decline. I am not suggesting new positions at this time.

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

Manitowoc Company - MTW - close: 31.78 change: +0.22

Stop Loss: 29.95
Target(s): to be determined
Current Gain/Loss: + 2.0%

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:
04/30/14: MTW outpaced the broader market indices with a +0.69% gain. Our plan was to exit today at the closing bell to avoid holding over the earnings report tomorrow.

closed Position: Long MTW stock @ $31.15 exit $31.78 (+2.0%)

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

May $30 call (MTW1417E30) entry $2.05* exit $2.20 (+7.3%)

04/30/14 planned exit
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

chart: