Editor's Note:
Good evening. I do not have new plays to release tonight but will be back with one or two tomorrow. I am looking at Monsanto (MON) as a possible long position. This is a play in the agriculture space which is gaining a lot of momentum. MON has found support near $56.00 on its recent pullback which is a prior resistance level dating back to early 2007. Technically, the stock has also formed a cup and handle pattern. There is solid overhead resistance near $66.00 but that is +10% higher than current levels. A possible entry could be considered at $58.50 or a break above today's highs at $60.20.

Our model portfolio performed well today, especially FTI which currently has gains of +63%. If the market continues bouncing in the coming days I would be looking to book some profits and/or tighten stops. Selling a portion of your positions and tightening stops to protect against a reversal in the market is a good strategy. Please email me with any questions/comments.