Editor's Note:

The stock market sell-off that started yesterday afternoon following the FOMC statement and Bernanke's press conference continued today. Foreign markets were weak and many stocks in the U.S. gapped open lower this morning.

It was the worst day for the market this year!
CFX, CVX, DPZ, RKT, TFM, TM, & WHR were stopped out.
AGU was triggered.


Current Portfolio:


CALL Play Updates

Automatic Data Processing - ADP - close: 68.20 change: -0.84

Stop Loss: 67.00
Target(s): 74.00
Current Option Gain/Loss: -36.3%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
06/20/13: ADP gap down at $68.44 but managed to find support near $68.00. Shares gave back -1.2% but that's only half of the S&P 500's -2.5% drop.

Currently our stop loss is at $67.00. Readers might want to raise their stop closer to $68.00 instead.

- Suggested Positions -

Long Aug $70 call (ADP1317H70) entry $1.65

Entry on June 18 at $69.25
Average Daily Volume = 1.8 million
Listed on June 17, 2013


Cameron Intl. Corp. - CAM - close: 61.87 change: -2.22

Stop Loss: 63.75
Target(s): 69.75
Current Option Gain/Loss: Unopened
Time Frame: 3 to 5 weeks
New Positions: Yes, see below

Comments:
06/20/13: CAM gapped down this morning. Shares underperformed the market with a -3.46% decline and closed below its simple 50-dma. If shares don't recover soon we may drop it as a candidate. Currently, I am suggesting a trigger at $65.60.

FYI: The Point & Figure chart for CAM is bullish with a $76 target.

Trigger @ 65.60

- Suggested Positions -

Buy the Jul $65 call (CAM1320G65)

Entry on June -- at $---.--
Average Daily Volume = 1.6 million
Listed on June 19, 2013


Green Mtn Coffee Roasters - GMCR - close: 78.32 change: -3.46

Stop Loss: 78.99
Target(s): 95.00
Current Option Gain/Loss: Unopened
Time Frame: 3 to 6 weeks
New Positions: Yes, see below

Comments:
06/20/13: Not surprisingly GMCR hit some profit taking today. Shares gave back -4.2% but managed to close near its simple 10-dma. We are currently on the sidelines with a trigger to buy calls at $83.05.

Earlier Comments:
GMCR can be a volatile stock so we do want to keep our position size small to limit risk. Today's move is a bullish breakout to new 52-week highs. If the rally continues GMCR could see a short squeeze. The most recent data listed short interest at 33% of the 129 million share float.

If triggered our multi-week target is $95.00. FYI: The Point & Figure chart for GMCR is bullish with a $105 target.

Trigger @ $83.05 *Small Positions*

- Suggested Positions -

Buy the Jul $85 call (GMCR1320G85)

- or -

Buy the Aug $90 call (GMCR1317H90)

Entry on June -- at $---.--
Average Daily Volume = 3.3 million
Listed on June 19, 2013


PUT Play Updates

Agrium Inc. - AGU - close: 86.36 change: -2.88

Stop Loss: 90.05
Target(s): 81.00
Current Option Gain/Loss: + 60.0%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
06/20/13: AGU finally broke down below support. The market's widespread sell-off pushed AGU over the edge. Shares gapped open lower at $87.71. That was below our suggested entry point so our trade opened immediately. AGU underperformed the market with a -3.2% decline.

Earlier Comments:
I am suggesting we limit our position size and keep positions small to limit our risk.

FYI: AGU will begin trading ex-dividend on June 26th. The quarterly cash dividend should be 50 cents.

*Small Positions* - Suggested Positions -

Long Jul $85 PUT (AGU1320s85) entry $1.25

06/20/13 triggered on gap down at $87.71, trigger was $87.80
06/19/13 keep position size small.

Entry on June -- at $---.--
Average Daily Volume = 744 thousand
Listed on June 15, 2013


eBay Inc. - EBAY - close: 50.74 change: -1.49

Stop Loss: 52.05
Target(s): 45.50
Current Option Gain/Loss: Unopened
Time Frame: 3 to 6 weeks
New Positions: Yes, see below

Comments:
06/20/13: EBAY collapsed with a -2.8% decline today. Shares hit new relative lows but they did not break support at the $50.00 level. We are still on the sidelines.

Currently we are suggesting investors wait for a breakdown below $50.00 and use an entry trigger at $49.85.

FYI: The Point & Figure chart for EBAY is bearish with a $44 target.

Trigger @ 49.85

- Suggested Positions -

Buy the Jul $50 PUT (EBAY1320s50)

Entry on June -- at $---.--
Average Daily Volume = 10.7 million
Listed on June 12, 2013


iShares Russell 2000 - IWM - close: 95.69 change: -2.60

Stop Loss: 97.50
Target(s): 94.10
Current Option Gain/Loss: +23.3%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
06/20/13: It was a painful day for the major indices. Actually it was the worst single day this year. The IWM gave up -2.6% and closed below its 50-dma.

We are making some adjustments tonight. Move the stop loss down to $97.50. We are moving the exit target to $94.10, just above the simple 100-dma.

I am not suggesting new positions at this time.

*Small Positions* - Suggested Positions -

Long Jul $95 PUT (IWM1320S95) entry $1.80

06/20/13 new stop loss @ 97.50, adjust exit target to $94.10
06/13/13 conservative traders may want to exit ASAP. The IWM has produced what appears to be a bullish reversal pattern but it needs confirmation.

Entry on June 11 at $97.45
Average Daily Volume = 43 million
Listed on June 08, 2013



Longer-Term Play Updates



Chicago Bridge & Iron - CBI - close: 59.42 change: -1.66

Stop Loss: 53.75
Target(s): 74.50
Current Option Gain/Loss: Unopened
Time Frame: 4 to 6 months
New Positions: Yes, see below

Comments:
06/20/13: CBI gapped open lower at $59.87. The stock ended the session down -2.7%.

Currently we are on the sidelines with a buy-the-dip trigger at $56.50.

Earlier Comments:
Last time we added CBI we successfully caught the bounce from mid April back toward its March highs. You can read the background details and bullish fundamentals for CBI in our original play description here, since it still applies. Just scroll down to the "longer-term trades" section of the page.

Trigger @ 56.50 *Small Positions*

- Suggested Positions -

Buy the 2014 Jan $65 call (CBI1418A65)

06/15/13 entry strategy change: change the breakout trigger at $65.25 to a buy-the-dip trigger at $56.50. Adjust the stop loss to $53.75.
Adjust the option strike to the 2014 Jan. $65 call

Entry on June -- at $---.--
Average Daily Volume = 1.8 million
Listed on June 01, 2013


CLOSED BULLISH PLAYS

Colfax Corp. - CFX - close: 51.00 change: -1.46

Stop Loss: 50.90
Target(s): 55.00
Current Option Gain/Loss: -21.2%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
06/20/13: CFX gapped lower at $51.86 and quickly plunged to $51.00. There was an intraday bounce but it failed at the $52.00 level and shares rolled over again. Our stop loss was hit at $50.90 late this afternoon.

- Suggested Positions -

SEP $55 call (CFX1321i55) entry $1.55 exit $1.22 (-21.2%)

06/20/13 stopped out
06/18/13 new stop loss @ 50.90
06/15/13 new stop loss @ 49.80

chart:

Entry on June 10 at $51.05
Average Daily Volume = 1.29 million
Listed on June 04, 2013


Chevron Corp. - CVX - close: 117.95 change: -2.55

Stop Loss: 119.75
Target(s): July calls: 126.50, August call: 129.50
Current Option Gain/Loss: Jul: -60.0% & Aug -42.8%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
06/20/13: Ouch! It was a rough day for energy giant CVX. The stock gapped open lower below its trend line of support and below its 100-dma. Shares opened at $119.54, which was below our stop loss at $119.75 so the trade was closed immediately. CVX eventually fell to a -2.1% decline.

- Suggested Positions -

Jul $125 call (CVX1320G125) entry $1.00 exit $0.40 (-60.0%)

- or -

Aug $125 call (CVX1317H125) entry $1.75 exit $1.00 (-42.8%)

06/20/13 stopped out on gap down at $119.54

chart:

Entry on June 19 at $122.25
Average Daily Volume = 6.4 million
Listed on June 18, 2013


Domino's Pizza - DPZ - close: 57.53 change: -2.24

Stop Loss: 58.75
Target(s): 64.75
Current Option Gain/Loss: -55.8%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
06/20/13: Shares of DPZ were burned by today's market decline. The stock underperformed the broader market with a -3.7% drop. There was no news to explain the relative weakness today. DPZ gapped open lower at $59.15 and quickly hit our stop loss at $58.75.

Investors may want to check DPZ again when it nears the longer-term trend line of support (likely near the 100-dma).

Earlier Comments:
I am suggesting that investors keep their position size small.

*Small Positions* - Suggested Positions -

Jul $60 call (DPZ1320G60) entry $2.15 exit $0.95 (-55.8%)

06/20/13 stopped out
06/18/13 new stop loss @ 58.75

chart:

Entry on June 04 at $60.30
Average Daily Volume = 733 thousand
Listed on May 30, 2013


Rock-Tenn Company - RKT - close: 102.63 change: -3.14

Stop Loss: 103.45
Target(s): 114.00
Current Option Gain/Loss: -57.5%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
06/20/13: The market sell-off hit RKT pretty hard with a -2.9% decline. Shares gapped down at $104.45 and quickly sliced through support near $104.00. Our stop was hit at $103.45.

- Suggested Positions -

Jul $110 call (RKT1320G110) entry $1.65 exit $0.70 (-57.5%)

06/20/13 stopped out
06/17/13 triggered on gap open higher at $106.45, trigger was $106.25
option opened lower at $1.65

chart:

Entry on June 17 at $106.45
Average Daily Volume = 594 thousand
Listed on June 15, 2013


The Fresh Market, Inc. - TFM - close: 49.28 change: -2.59

Stop Loss: 50.75
Target(s): 58.50
Current Option Gain/Loss: -60.0%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
06/20/13: TFM was a significant underperformer today. The S&P 500 index lost -2.5%. Shares of TFM lost -4.99%. I couldn't see any headlines to account for the relative weakness. Shares opened down at $51.62. TFM tried to bounce but failed at $52.00 near its 10-dma (new resistance) and then plunged past potential support at $50.00 and its 200-dma. Our stop was hit at $50.75.

- Suggested Positions -

Jul $55 call (TFM1320G55) entry $1.25 exit $0.50* (-60.0%)

06/20/13 stopped out
*option exit price is an estimate since the option did not trade at the time our play was closed.
06/18/13 triggered @ 53.10
06/17/13 adjust the entry strategy to buy calls when TFM hits $53.10
adjust the stop loss to $50.75, adjust the target to $58.50.
adjust the option strike to the July $55 call
06/13/13 adjust buy-the-dip trigger to $51.00 from $50.75

chart:

Entry on June -- at $---.--
Average Daily Volume = 741 thousand
Listed on June 11, 2013


Toyota Motor Co. - TM - close: 117.06 change: -3.72

Stop Loss: 118.25
Target(s): 130.00
Current Option Gain/Loss: -56.2%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
06/20/13: TM was not spared from the market's widespread sell-off. Asian markets sold off in response to yesterday afternoon's plunge in the U.S. markets. Shares of TM gapped open lower at $118.97 and quickly hit our stop loss at $118.25. The long-term trend of higher lows is still in place for now but the up trend could be in trouble.

Earlier Comments:
Don't forget that TM tends to gap open, up or down, each day in reaction to trading back home in Japan, although lately TM has ignored the some of the volatility in the NIKKEI index.

- Suggested Positions -

Jul $125 call (TM1320G125) entry $3.43 exit $1.50 (-56.2%)

06/20/13 stopped out
06/18/13 trade opened on gap higher at $122.44. Trigger was $122.10

chart:

Entry on June 18 at $122.44
Average Daily Volume = 821 thousand
Listed on June 13, 2013


Whirlpool Corp. - WHR - close: 120.30 change: -6.50

Stop Loss: 124.75
Target(s): 132.00
Current Option Gain/Loss: -11.7%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
06/20/13: Shares of WHR just collapsed today with a gap down at the open at $125.15 and then a plunge toward $120. WHR gave back -5.1% on the session. Our stop was hit early this morning at $124.75.

- Suggested Positions -

Jul $125 call (WHR1320G125) entry $4.70 exit $4.15 (-11.7%)

06/20/13 stopped out
06/18/13 new stop loss @ 124.75, readers may want to take profits now
06/15/13 new stop loss @ 121.45
06/13/13 new stop loss @ 120.90
06/07/13 trade opened on gap higher at $123.49, trigger was 123.35

chart:

Entry on June 07 at $123.49
Average Daily Volume = 826 thousand
Listed on June 06, 2013