Editor's Note:

The U.S. stock market shrugged off the dark clouds from Europe this morning and rebounded off its Wednesday morning lows.

Of course today's intraday bounce could be nothing more than window dressing as fund managers load up positions for tomorrow's end of the first quarter.

The U.S. markets are closed on Friday!


Current Portfolio:


CALL Play Updates

Axiall Corp. - AXLL - close: 60.53 change: -0.99

Stop Loss: 59.90
Target(s): 69.00
Current Option Gain/Loss: Apr62.5c: -62.5% & May65c: -49.0%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
03/27/13: Most of the market bounced off their morning lows and pared their losses. Not so for shares of AXLL. The stock fell toward round-number support at $60.00 and just consolidated sideways near this level the rest of the session. Lack of a bounce is worrisome. I am not suggesting new positions at this time.

- Suggested Positions -

Long Apr $62.50 call (AXLL1320D62.5) entry $3.20

- or -

Long May $65 call (AXLL1318E65) entry $2.75*

03/20/13 trade opened at trigger $63.15.
*option entry price is an estimate since the option did not trade at the time our play was opened.

Entry on March 20 at $63.15
Average Daily Volume = 1.3 million
Listed on March 19, 2012


Continental Resources – CLR – close: 87.56 change: -0.50

Stop Loss: 84.65
Target(s): 93.50
Current Option Gain/Loss: -16.6%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
03/27/13: CLR's performance today was disappointing. Shares underperformed most of its peers in the oil industry. The stock did bounce midday but it struggled to get past the $88 level.

- Suggested Positions -

Long Apr $90 call (CLR1320D90) entry $1.50

Entry on March 26 at $---.--
Average Daily Volume = 1.2 million
Listed on March 25, 2012


Crane Co. - CR - close: 55.40 change: -0.15

Stop Loss: 54.40
Target(s): 58.50
Current Option Gain/Loss: -12.0%
Time Frame: 6 to 9 weeks
New Positions: see below

Comments:
03/27/13: CR only lost 15 cents today but it was an ugly session with a spike down below what should have been support near $55.00 and its 20-dma. Traders did buy the bounce but CR posted a -0.2% decline. Back in late February and early March CR pierced its 20-dma and rebounded. Both times that proved to be a bullish buying opportunity. Will it happen again this time? Readers may want to look for a move past $55.65 or $56.00 as a new bullish entry point.

Earlier Comments:
We do want to keep our position size small to limit our risk. If triggered our multi-week target is $58.50. More aggressive traders could certainly aim higher but CR doesn't move super fast.

- Suggested Positions - *Small Positions*

Long JUN $55 call (CR1322F55) entry $2.50

03/23/13 new stop loss @ 54.40
03/20/13 new stop loss @ 53.90
03/11/13 triggered at $55.25, plus we corrected the typo regarding the April versus June option. We are suggesting the June $55 call.

Entry on March 11 at $55.25
Average Daily Volume = 314 thousand
Listed on March 09, 2012


CommVault Sys. - CVLT - close: 83.29 change: +1.29

Stop Loss: 79.45
Target(s): 89.00
Current Option Gain/Loss: - 8.8%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
03/27/13: Traders bought the spike down in CVLT this morning and the stock reversed into a healthy gain. The stock posted a +1.5% gain by the close and broke out past short-term resistance in the $83.00 area. Our trigger to buy calls was hit at $83.25.

- Suggested Positions -

Long Apr $85 call (CVLT1320D85) entry $2.25

Entry on March 27 at $83.25
Average Daily Volume = 627 thousand
Listed on March 20, 2012


Green Mtn Coffee Roasters - GMCR - close: 55.88 change: +0.05

Stop Loss: 53.45
Target(s): 59.75
Current Option Gain/Loss: -17.6%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
03/27/13: GMCR bounced off its morning lows to post a gain yet our call option retreated lower today. Readers may want to wait for a rally past today's high (56.26) before considering new bullish positions.

Earlier Comments:
If this rally continues GMCR could see a short squeeze. The most recent data listed short interest at 37% of the 129 million-share float.

- Suggested Positions -

Long Apr 57.50 call (GMCR1320D57.5) entry $1.64

03/23/13 new stop loss @ 53.45

Entry on March 19 at $55.55
Average Daily Volume = 3.4 million
Listed on March 18, 2012


Genesee & Wyoming - GWR - close: 92.79 change: +0.40

Stop Loss: 89.90
Target(s): 98.50
Current Option Gain/Loss: -46.4%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
03/27/13: It was a relatively quiet session for GWR. The stock did manage to outperform the major indices with a +0.4% gain. A rally past Monday's high of $93.43 could be used as a new bullish entry point.

Earlier Comments:
I would keep your position size small to limit our risk.

*Small Positions* - Suggested Positions -

Long Apr $95 call (GWR1320D95) Entry $1.40

03/25/13 new stop loss @ 90.70
03/19/13 new stop loss @ 89.90

Entry on March 11 at $92.35
Average Daily Volume = 407 thousand
Listed on March 09, 2012


The Hain Celestial Group - HAIN - close: 61.58 change: -0.59

Stop Loss: 60.95
Target(s): 65.75
Current Option Gain/Loss: Unopened
Time Frame: 3 to 6 weeks
New Positions: Yes, see below

Comments:
03/27/13: HAIN is still consolidating sideways. The stock did underperform the market with a -0.9% loss. We are sitting on the sidelines waiting for a breakout higher. The recent rally has left HAIN poised to breakout past resistance near $62.00-62.50. If shares do break out higher it could spark a short squeeze. The most recent data listed short interest at 17% of the 37.8 million share float.

I am suggesting a trigger to buy calls at $62.75. If triggered our target is $65.75. More aggressive traders could aim higher.

Trigger @ 62.75

- Suggested Positions -

Buy the May $65 call (HAIN1318E65)

Entry on March -- at $---.--
Average Daily Volume = 821 thousand
Listed on March 26, 2012


Ingredion Inc. - INGR - close: 72.27 change: +1.33

Stop Loss: 68.45
Target(s): 74.75
Current Option Gain/Loss: +55.8%
Time Frame: 3 to 4 weeks
New Positions: , see below

Comments:
03/27/13: INGR continues to show relative strength. Traders bought the gap down this morning and the stock reversed to a +1.8% gain and another new high.

FYI: The Point & Figure chart for INGR is bullish with an $83 target.

- Suggested Positions -

Long Apr $70 call (INGR1320D70) entry $1.70

Entry on March 25 at $70.65
Average Daily Volume = 585 thousand
Listed on March 23, 2012


Kansas City Southern - KSU - close: 107.74 change: -1.77

Stop Loss: 105.75
Target(s): 114.00
Current Option Gain/Loss: -26.0%
Time Frame: 3 to 5 weeks
New Positions: see below

Comments:
03/27/13: It was certainly disappointing to see KSU fail to follow through on yesterday's surge higher. Shares seem stuck inside the $106-110 zone. I am not suggesting new positions at this time.

Earlier Comments:
We want to keep our position size small to limit our risk since the transportation sector and KSU are arguably overbought at current levels.

- Suggested Positions -

Long Apr $110 call (KSU1320D110) entry $2.50

03/25/13 new stop loss @ 105.75
03/23/13 Our stop is at $104.75 but readers may want to use a stop around $105.75 instead.

Entry on March 14 at $107.50
Average Daily Volume = 984 thousand
Listed on March 13, 2012


McCormick & Co. - MKC - close: 72.65 change: +0.24

Stop Loss: 70.85
Target(s): 74.85
Current Option Gain/Loss: +14.8%
Time Frame: Prepare to exit PRIOR to earnings on April 2nd
New Positions: see below

Comments:
03/27/13: So far, so good. MKC continues to march higher and posted another high today. Tomorrow we are planning to exit positions at the closing bell. The market is closed on Friday and we do not want to hold positions over MKC's earnings announcement on April 2nd.

Earlier Comments:
I would keep our position size small to limit our risk.

*Small Positions* - Suggested Positions -

Long Jun $70 call (MKC1322F70) current ask $2.70

03/26/13 prepare to exit on Thursday, March 28th, at the closing bell
03/23/13 new stop loss @ 70.85
03/20/13 triggered on gap open higher at $71.40

Entry on March 20 at $71.40
Average Daily Volume = 750 thousand
Listed on March 19, 2012


Noble Energy - NBL - close: 115.23 change: -0.37

Stop Loss: 112.65
Target(s): 119.75
Current Option Gain/Loss: - 6.4%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
03/27/13: Wednesday was an uneventful session for NBL. The stock did underperform the energy sector today. Yet NBL still looks poised to move higher. I would still consider new bullish positions now at current levels or wait for a rally past today's high (115.66).

- Suggested Positions -

Long May $120 call (NBL1318E120) entry $1.55

03/26/13 triggered @ 115.35
03/25/13 adjust entry trigger to $115.35, adjust stop to $112.65

Entry on March 26 at $115.35
Average Daily Volume = 1.0 million
Listed on March 23, 2012


Toyota Motors - TM - close: 103.10 change: -0.50

Stop Loss: 102.35
Target(s): 108.00
Current Option Gain/Loss: -52.8%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
03/27/13: Like most of the market today, TM gapped down at the open. Traders bought the dip twice near support in the $102.50 area. I remain cautious here. I am not suggesting new positions and more conservative traders may want to exit early now.

Earlier Comments:
I do want to warn you that shares of TM tend to gap open (up or down) each day as the U.S. shares adjust for trading that occurs back home in Japan.

- Suggested Positions -

Long Apr $105 call (TM1320d105) entry $2.25

03/18/13 new stop loss @ 102.35, more conservative traders may want to exit early now
03/16/13 new stop loss @ 101.75

Entry on March 05 at $103.25
Average Daily Volume = 686 thousand
Listed on March 02, 2012


PUT Play Updates

F5 Networks - FFIV - close: 87.72 change: +1.15

Stop Loss: 90.55
Target(s): 85.25
Current Option Gain/Loss: -15.0%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
03/27/13: Shares of FFIV were upgraded to a "buy" this morning. Instead of gapping down with the rest of the market FFIV gapped open higher on the upgrade. Shares added +1.3% but have yet to test short-term technical resistance at the simple 10-dma.

Nimble traders could look for a failed rally in the $89-90 zone as a new bearish entry point. Our target is $85.25 but more aggressive traders may want to aim for the $82.00-81.50 zone instead.

- Suggested Positions -

Long Apr $85 PUT (FFIV1320P85) entry $1.40

03/23/13 new stop loss @ 90.55

Entry on March 22 at $89.11
Average Daily Volume = 1.5 million
Listed on March 21, 2012


Joy Global, Inc. - JOY - close: 60.00 change: +1.14

Stop Loss: 60.25
Target(s): 52.50
Current Option Gain/Loss: -44.2%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
03/27/13: JOY is a mining equipment company. While JOY's business model is different than Cliff's Natural Resources, an iron-ore miner, I am somewhat surprised that CLF's -14% downgrade-inspired plunge didn't have an influence on JOY today. Quite the opposite occurred. I couldn't find any specific catalyst to explain JOY's +1.9% surge toward resistance near $60.00.

Our stop loss is at $60.25 and the intraday high for JOY was $60.24. If there is any follow through higher tomorrow we'll likely see JOY hit our stop.

- Suggested Positions -

Long Apr 60 PUT (JOY1320P60) entry $3.05

Entry on March 25 at $57.50
Average Daily Volume = 2.7 million
Listed on March 20, 2012


Vitamin Shoppe, Inc. - VSI - close: 48.85 change: -0.29

Stop Loss: 51.55
Target(s): 45.50
Current Option Gain/Loss: + 7.5%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
03/27/13: VSI is still drifting lower and posted a -0.59% decline today. I am not suggesting new positions at this time. More conservative traders might want to adjust their stop loss closer to the simple 10-dma.

- Suggested Positions -

Long Apr $50 PUT (VSI1320P50) entry $2.00

Entry on March 21 at $49.75
Average Daily Volume = 736 thousand
Listed on March 11, 2012