Editor's Note:

Our plan was to exit our MKC trade at the closing bell on Thursday. The stock cooperated with a new all-time high.

Elsewhere our TM trade was stopped out.


Current Portfolio:


CALL Play Updates

Axiall Corp. - AXLL - close: 62.16 change: +1.63

Stop Loss: 59.90
Target(s): 69.00
Current Option Gain/Loss: Apr62.5c: -43.7% & May65c: -30.9%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
03/30/13: AXLL rebounded from support near $60.00 on Thursday. Shares erased Wednesday's decline with a +2.6% gain. Readers can use this rebound from support as a new bullish entry point to buy calls.

- 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.

chart:

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


Continental Resources – CLR – close: 86.93 change: -0.63

Stop Loss: 84.65
Target(s): 93.50
Current Option Gain/Loss: -36.6%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
03/30/13: CLR's performance on Thursday is worrisome. Oil is in rally mode but almost all of the energy stocks turned lower on Thursday and CLR was no exception. Thursday's move also looks like a failed rally at CLR's 10-dma. Odds are pretty good we'll see this stock retest its 05-dma or the $85 level soon. Wait for a bounce before considering new bullish positions.

- Suggested Positions -

Long Apr $90 call (CLR1320D90) entry $1.50

chart:

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


Crane Co. - CR - close: 55.86 change: +0.46

Stop Loss: 54.40
Target(s): 58.50
Current Option Gain/Loss: - 4.0%
Time Frame: 6 to 9 weeks
New Positions: see below

Comments:
03/30/13: CR suffered a minor correction last week. Fortunately traders started buying the dip on Wednesday morning. The rebound continued on Thursday with a +0.8% gain. Traders could use Thursday's bounce as a new bullish entry point. More conservative traders may want to wait for a rally past $56.00 or its 10-dma before initiating new positions.

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.

chart:

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


CommVault Sys. - CVLT - close: 82.00 change: -1.29

Stop Loss: 79.90
Target(s): 89.00
Current Option Gain/Loss: -37.7%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
03/30/13: Wednesday's rebound in CVLT was erased on Thursday. The lack of follow through higher and CVLT's display of relative weakness on Thursday is a potential warning sign. I am inching our stop loss up to $79.90. I am not suggesting new positions.

- Suggested Positions -

Long Apr $85 call (CVLT1320D85) entry $2.25

03/30/13 new stop loss @ 79.90

chart:

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


Green Mtn Coffee Roasters - GMCR - close: 56.76 change: +0.88

Stop Loss: 54.45
Target(s): 59.75
Current Option Gain/Loss: +7.3%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
03/30/13: GMCR displayed relative strength on Thursday with a +1.5% gain. Yet the stock failed to breakout past its mid March high near $57.00. I am raising our stop loss to $54.45.

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

03/30/13 new stop loss @ 54.45
03/23/13 new stop loss @ 53.45

chart:

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


Genesee & Wyoming - GWR - close: 93.11 change: +0.32

Stop Loss: 89.90
Target(s): 98.50
Current Option Gain/Loss: -39.2%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
03/30/13: GWR appears to be breaking out from what almost appears to be a bull-flag consolidation pattern. The March 25th high was $93.43. Thursday's high was $93.37. Readers may want to wait for a rally past $93.50 as a new bullish entry point. If you do launch new positions I would buy the May calls.

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

chart:

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


The Hain Celestial Group - HAIN - close: 61.08 change: -0.50

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:
03/30/13: It might be time to drop HAIN as a bullish candidate. The stock has lost about 50 cents, two days in a row. Shares are retreating while the market's major indices hit new highs. The recent action might suggest HAIN is poised to retest the $60.00 level soon.

Currently our plan is to buy calls at $62.75. If triggered our target is $65.75. More aggressive traders could aim higher.

Earlier Comments:
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.

Trigger @ 62.75

- Suggested Positions -

Buy the May $65 call (HAIN1318E65)

chart:

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


Ingredion Inc. - INGR - close: 72.32 change: +0.05

Stop Loss: 69.75
Target(s): 74.75
Current Option Gain/Loss: +58.8%
Time Frame: 3 to 4 weeks
New Positions: , see below

Comments:
03/30/13: INGR ended the quarter at new all-time highs. Shares do look a little short-term overbought here. I would not be surprised to see a bit of a pullback. Please note our new stop loss at $69.75.

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

- Suggested Positions -

Long Apr $70 call (INGR1320D70) entry $1.70

03/30/13 new stop loss @ $69.75

chart:

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


Kansas City Southern - KSU - close: 110.90 change: +3.16

Stop Loss: 105.75
Target(s): 114.00
Current Option Gain/Loss: +32.0%
Time Frame: 3 to 5 weeks
New Positions: see below

Comments:
03/30/13: The transportation sector was showing relative strength on Thursday and the railroads were leading the charge. KSU managed to outperform many of its peers with a +2.9% gain. Furthermore Thursday's rally is a bullish breakout from its recent trading range. Our target is $114.00. More aggressive traders could aim higher.

Earlier Comments:
We want to keep our position size small to limit our risk.

- 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.

chart:

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


Noble Energy - NBL - close: 115.66 change: +0.43

Stop Loss: 112.65
Target(s): 119.75
Current Option Gain/Loss: + 0.0%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
03/30/13: Most of the energy sector dipped lower on Thursday but NBL managed to outperform its peers with a +0.3% gain. Shares are trading just below their March 15th high near $116.65. A breakout past the mid-March peak should signal a run toward $120.

Our target is $119.75 but more aggressive traders could aim higher.

- 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

chart:

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


PUT Play Updates

F5 Networks - FFIV - close: 89.08 change: +0.36

Stop Loss: 90.55
Target(s): 85.25
Current Option Gain/Loss: -27.8%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
03/30/13: The stock market is hitting new highs so it's tough for bearish trades to work very long. FFIV is still underperforming the market but shares are up two days in a row. The stock saw its intraday rally attempt fail at round-number resistance near $90.00 on Thursday.

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

chart:

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


Joy Global, Inc. - JOY - close: 59.52 change: -0.48

Stop Loss: 60.25
Target(s): 52.50
Current Option Gain/Loss: -37.7%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
03/30/13: Thankfully there was no follow through on Wednesday's rebound in JOY. The bounce has stalled at round-number resistance near $60.00. I would be somewhat cautious on launching new positions. A new drop below $59.00 might qualify as a new bearish entry point. Or you could wait for a drop under its simple 200-dma again.

- Suggested Positions -

Long Apr 60 PUT (JOY1320P60) entry $3.05

chart:

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


Rackspace Hosting - RAX - close: 50.48 change: +0.74

Stop Loss: 50.25
Target(s): 45.50
Current Option Gain/Loss: Unopened
Time Frame: 3 to 4 weeks
New Positions: Yes, see below

Comments:
03/30/13: RAX delivered a +1.48% bounce on Thursday. Yet overall I don't see any changes from my Wednesday night comments. The trend remains bearish. RAX is facing increasing competition. The stock looks poised to breakdown below support.

The March 15th low was $49.18. I am suggesting a trigger to buy puts at $49.00. If triggered our short-term target is $45.50. The $45.00 level does look like it could be significant support.

NOTE: I would keep our position size small. While there is growing competition in the cloud computing field there are also expectations that the industry could see consolidation and smaller companies, like RAX, could be takeover targets.

Trigger @ 49.00 *Small Positions*

- Suggested Positions -

Buy the Apr $50 PUT (RAX1320P50) current ask $1.60

chart:

Entry on March -- at $---.--
Average Daily Volume = 2.4 million
Listed on March 27, 2012


Vitamin Shoppe, Inc. - VSI - close: 48.85 change: -0.00

Stop Loss: 51.55
Target(s): 45.50
Current Option Gain/Loss: + 5.0%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
03/30/13: The last day of the first quarter was a quiet one for shares of VSI. The stock closed unchanged on the session. Shares continue to underperform the broader market.

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

chart:

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


CLOSED BULLISH PLAYS

McCormick & Co. - MKC - close: 73.55 change: +0.90

Stop Loss: 70.85
Target(s): 74.85
Current Option Gain/Loss: +44.4%
Time Frame: Prepare to exit PRIOR to earnings on April 2nd
New Positions: see below

Comments:
03/30/13: Shares of MKC were kind enough to cooperate with our plans for an early exit. We had planned to exit positions on Thursday at the closing bell to avoid holding over earnings early next week (April 2nd). MKC surged +1.2% on Thursday to close at new all-time highs. The June $70 call closed with a bid/ask of $3.90/4.30.

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

*Small Positions* - Suggested Positions -

Long Jun $70 call (MKC1322F70) entry: 2.70, exit $3.90 (+44.4%)

03/28/13 scheduled exit at the close
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

chart:

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


Toyota Motors - TM - close: 102.64 change: -0.46

Stop Loss: 102.35
Target(s): 108.00
Current Option Gain/Loss: -65.7%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
03/30/13: Friday, March 29th, marked the beginning of the 113th annual New York Auto Show. Yet most of the automaker stocks turned lower on Thursday. Shares of TM dipped below recent support and tagged our stop loss at $102.35. For the week, TM's slow descent has created a bearish engulfing candlestick reversal pattern on its weekly chart (not shown).

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 -

Apr $105 call (TM1320d105) entry $2.25 exit $0.77 (-65.7%)

03/28/13 stopped out at $102.35
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

chart:

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