Editor's Note:

Stocks continue to post gains although the semiconductors and transports failed to participate on Thursday.

Our ALXN and AMT trades were triggered.


Current Portfolio:


CALL Play Updates

Allergan Inc. - AGN - close: 116.17 change: +1.39

Stop Loss: 111.75
Target(s): 117.50
Current Option Gain/Loss: +49.1%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
04/11/13: The stock market's rally has been good for AGN. Shares managed to break out past potential resistance at $115.00 and hit new highs today. Our exit target is $117.50. More aggressive traders could aim higher.

- Suggested Positions -

Long May $115 call (AGN1318E115) entry $2.28

04/10/13 new stop loss @ 111.75
04/02/13 triggered on gap open higher

Entry on April 02 at $113.24
Average Daily Volume = 1.2 million
Listed on April 01, 2013


Alexion Pharma. - ALXN - close: 100.42 change: +0.37

Stop Loss: 97.95
Target(s): 107.50
Current Option Gain/Loss: -10.9%
Time Frame: 2 to 4 weeks
New Positions: see below

Comments:
04/11/13: The rally in ALXN was less impressive. Shares only gained +0.3% but they did hit new relative highs. The stock also hit our suggested entry point at $100.75 near its high for the day.

At this point I would wait for ALXN to trade above today's high ($100.78) before initiating new positions.

- Suggested Positions -

Long May $105 call (ALXN1318E105) entry $2.75

Entry on April 11 at $100.75
Average Daily Volume = 1.58 million
Listed on April 10 2013


American Tower Corp. - AMT - close: 80.32 change: +0.45

Stop Loss: 78.75
Target(s): 84.75
Current Option Gain/Loss: - 7.3%
Time Frame: Exit prior to earnings in early May
New Positions: see below

Comments:
04/11/13: Our new trade on AMT has been triggered. Shares pushed past resistance near $80.00 and hit our suggested trigger to buy calls at $80.25. This is a new all-time high for the stock.

Our target is $84.75. More aggressive traders could aim higher. FYI: The Point & Figure chart for AMT is bullish with a $94 target.

- Suggested Positions -

Long May$80 call (AMT1318E80) entry $2.05

Entry on April 11 at $80.25
Average Daily Volume = 2.2 million
Listed on April 09 2013


Ingredion Inc. - INGR - close: 74.01 change: +0.44

Stop Loss: 71.75
Target(s): 74.50
Current Option Gain/Loss: +123.5%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
04/11/13: The stock market strength has also helped INGR rebound. The stock added +0.59% and shares are now flirting with a breakout past short-term resistance near $74.00. This is a new record high for the stock.

Please note that currently our exit target is $74.50. However, we have April options that only have a few days left. Therefore, if INGR does not hit our $74.50 target tomorrow, I am suggesting we go ahead and close our positions on Friday at the closing bell.

- Suggested Positions -

Long Apr $70 call (INGR1320D70) entry $1.70

04/11/13 if INGR does not hit our target on Friday, plan on closing positions on Friday at the closing bell (Friday, April 12th)
04/06/13 new stop loss @ 71.75
04/03/13 new stop loss @ 71.35
04/02/13 our option is up +88%, readers may want to take profits now
Adjusting the exit target to $74.50
03/30/13 new stop loss @ $69.75

Entry on March 25 at $70.65
Average Daily Volume = 585 thousand
Listed on March 23, 2013


Kimberly-Clark - KMB - close: 101.12 change: +0.82

Stop Loss: 97.85
Target(s): 104.00
Current Option Gain/Loss: +18.3%
Time Frame: Exit PRIOR to earnings on April 19th
New Positions: see below

Comments:
04/11/13: Both KMB and the S&P 500 index are breaking out to new all-time highs. I am raising our stop loss on KMB to $97.85.

Our target is $104.00. However, we will plan to exit prior to KMB's earnings report on April 19th.

- Suggested Positions -

Long May $100 call (KMB1318E100) entry $2.45

04/11/13 new stop loss @ 97.85

Entry on April 10 at $100.25
Average Daily Volume = 2.3 million
Listed on April 06 2013


L-3 Communications - LLL - close: 83.30 change: -0.07

Stop Loss: 79.90
Target(s): 84.85
Current Option Gain/Loss: + 6.2%
Time Frame: Exit prior to earnings on April 25th
New Positions: see below

Comments:
04/11/13: LLL tagged a new 52-week high intraday. Yet the trading today actually looks short-term bearish with LLL failing twice near the $84.00 level. On a short-term basis I would expect a pullback into the $82.50-82.00 zone.

Our short-term target is $84.85. However, we will plan on exiting positions prior to LLL's earnings report on April 25th.

- Suggested Positions -

Long May $85 call (LLL1318E85) entry $0.80

Entry on April 10 at $82.50
Average Daily Volume = 600 thousand
Listed on April 08 2013


SanDisk Corp. - SNDK - close: 58.62 change: +0.30

Stop Loss: 54.95
Target(s): 59.75
Current Option Gain/Loss: +40.4%
Time Frame: exit PRIOR to earnings on April 17th
New Positions: see below

Comments:
04/11/13: SNDK saw some weakness this morning but traders bought the dip near $57.50. The stock managed to rebound and close up on the session.

Earlier Comments:
Our short-term target is $59.75. Keep in mind that this is going to be a short-term trade. SNDK is scheduled to report earnings on April 17th and we do not want to hold over the report. FYI: The Point & Figure chart for SNDK is bullish with a long-term $79 target.

- Suggested Positions -

Long May $57.50 call (SNDK1318e57.5) entry $2.35

Entry on April 10 at $56.75
Average Daily Volume = 3.3 million
Listed on April 09 2013


Under Armour - UA - close: 56.03 change: +1.06

Stop Loss: 52.75
Target(s): 58.50
Current Option Gain/Loss: +109.4%
Time Frame: Exit prior to earnings on April 19th
New Positions: Yes, see below

Comments:
04/11/13: Bullish analyst comments and a new, higher price target helped UA outperform today. Shares rallied past resistance near $55.00 and closed up +1.9% on the session. I am raising our stop loss to $52.75, which is about 50 cents below the 10-dma.

Readers may want to consider taking profits now since our option has more than doubled in value (+109%).

We are aiming for $58.50 but will plan to exit prior to the April 19th earnings.

- Suggested Positions - *Small Positions*

Long May $55 call (UA1318e55) entry $1.48

04/11/13 new stop loss @ 52.75
04/10/13 UA has hit potential resistance at $55.00. Readers may want to take profits right now
04/05/13 trade opened on gap down at $52.45

Entry on April 05 at $52.45
Average Daily Volume = 1.4 million
Listed on April 04, 2013


PUT Play Updates

Concur Technologies - CNQR - close: 65.20 change: -0.14

Stop Loss: 66.05
Target(s): 60.25
Current Option Gain/Loss: -16.1%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
04/11/13: Thursday proved to be a very quiet day for CNQR. After a big rebound off its Tuesday morning lows the rally has stalled below its 300-dma. The lack of participation in the market's rally today could also be a warning sign for the bulls. I am not suggesting new positions.

Earlier Comments:
Readers may want to keep their position size small. The most recent data listed short interest at 21% of the small 53.5 million share float. That does raise the risk of a short squeeze should CNQR suddenly reverse higher. FYI: The Point & Figure chart for CNQR is bearish with a $59 target.

- Suggested Positions -

Long May $65 PUT (CNQR1318Q65) entry $3.40

04/09/13 new stop loss @ 66.05

Entry on April 05 at $64.75
Average Daily Volume = 325 thousand
Listed on April 03, 2013


Joy Global, Inc. - JOY - close: 54.84 change: -2.40

Stop Loss: 58.55
Target(s): 54.10
Current Option Gain/Loss: +70.4%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
04/11/13: JOY failed at resistance yesterday and the reversal accelerated lower today with a -4.19% drop to new four-month lows. Please note that I am adjusting our strategy on JOY. We have the April puts, which only have six trading days left. Now it's certainly possible that JOY could fall toward what is likely round-number support near $50.00. Yet I also see potential support near the $54.00 level. If we had the May puts then maybe I would hold on and aim for the $50 area. However, since our options only have a few days left I am adjusting our exit target to $54.10. I am also moving the stop loss down to $58.55. Traders may want to consider taking profits and closing positions tomorrow no matter what.

- Suggested Positions -

Long Apr 60 PUT (JOY1320P60) entry $3.05

04/11/13 new stop loss @ 58.55, adjust exit target to $54.10
04/09/13 adjust stop loss to $59.05
04/03/13 new stop loss @ 58.65

Entry on March 25 at $57.50
Average Daily Volume = 2.7 million
Listed on March 20, 2013