Editor's Note:

The major U.S. indices all closed on their lows for the session. That does not bode well for tomorrow morning.

CVS and MMM hit our entry triggers.
GBX, IWM and VMW hit our stop losses.


Current Portfolio:


CALL Play Updates

ASML Holdings - ASML - close: 92.28 change: +0.30

Stop Loss: 89.75
Target(s): 99.50
Current Option Gain/Loss: -21.0%
Time Frame: exit prior to earnings on April 16th
New Positions: see below

Comments:
03/26/14: ASML gapped open higher this morning and spent the rest of the day slowly giving up gains. Look for short-term support in the $90-91 zone. I am not suggesting new positions at this time.

FYI: The Point & Figure chart for ASML is bullish with a $104 target.

- Suggested Positions -

Long Apr $95 call (ASML1419D95) entry $1.90*

03/19/14 triggered @ 92.25
*option entry price is an estimate since the option did not trade at the time our play was opened.

Entry on March 19 at $92.25
Average Daily Volume = 1.6 million
Listed on March 18, 2014


Chicago Bridge & Iron - CBI - close: 83.48 change: -2.21

Stop Loss: 81.30
Target(s): 94.75
Current Option Gain/Loss: -53.5%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
03/26/14: It was a rough day for CBI with a -2.5% decline and a breakdown below short-term support near $84.00 and its 10-dma and 20-dma. I am inching our stop loss up to $81.30. More conservative traders may want to move their stop closer to $82.50 or higher.

Earlier Comments:
Our target is $89.50. More aggressive investors could aim higher since the Point & Figure chart for CBI is bullish with a $111 target.

- Suggested Positions -

Long Apr $85 call (CBI1419D85) entry $2.80

03/26/14 new stop @ 81.30
03/18/14 adjust exit target from $89.50 to $94.75
03/04/14 triggered @ 84.50

Entry on March 04 at $84.50
Average Daily Volume = 1.16 million
Listed on March 01, 2014


CVS Caremark - CVS - close: 75.30 change: +0.35

Stop Loss: 73.45
Target(s): 79.75
Current Option Gain/Loss: -10.3%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
03/26/14: CVS displayed relative strength today but we did not get the entry point we were looking for. Before the opening bell CVS announced it had won a three-year contract to provide integrated pharmacy benefit services to Blue Cross and Blue Shield government-wide service benefit plans. The stock gapped open higher on this news at $75.78. Since our suggested entry point was $75.10 the move higher immediately triggered our play. At this point investors may want to wait for a bounce from the $75.00 level as the next entry point.

- Suggested Positions -

Long May $75 call (CVS1417E75) entry $2.23

03/26/14 triggered on gap higher at $75.78, suggested trigger was $75.10

Entry on March 26 at $75.78
Average Daily Volume = 5.4 million
Listed on March 24, 2014


Lockheed Martin - LMT - close: 159.64 change: -0.93

Stop Loss: 156.95
Target(s): to be determined
Current Option Gain/Loss: Apr$160c: -20.3% & Jun$165c: - 8.8%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
03/26/14: The stock market's decline today is dragging LMT lower wit a -0.5% decline. The move looks a bit more ominous on the intraday chart with two failed rallies near $162.00 today. I am not suggesting new positions at this time.

- Suggested Positions -

Long Apr $160 call (LMT1419D160) entry $3.20

- or -

Long Jun $165 call (LMT1421F165) entry $3.40*

03/25/14 triggered @ 160.75
*option entry price is an estimate since the option did not trade at the time our play was opened.

Entry on March 25 at $160.75
Average Daily Volume = 2.0 million
Listed on March 24, 2014


3M Company - MMM - close: 133.09 change: -0.97

Stop Loss: 131.40
Target(s): to be determined.
Current Option Gain/Loss: -35.5%
Time Frame: Exit PRIOR to earnings on April 24th
New Positions: Yes, see below

Comments:
03/26/14: MMM hit our entry trigger this morning. The stock actually gapped open higher at $134.66. Our suggested entry was $134.65. The rally did stall near $135 and MMM reversed with the market's broad-based decline. Unfortunately, today's move now looks like a bearish engulfing candlestick reversal pattern.

I am not suggesting new positions at this moment. Watch for support near $132.00 and its converging 50-dma and 100-dma.

- Suggested Positions -

Long May $135 call (MMM1417E135) entry $2.95*

03/26/14 triggered @ 134.66, suggested entry was $134.65
*option entry price is an estimate since the option did not trade at the time our play was opened.

Entry on March 26 at $134.65
Average Daily Volume = 3.0 million
Listed on March 25, 2014


Cimarex Energy Co. - XEC - close: 114.74 change: -1.10

Stop Loss: 112.45
Target(s): 128.50
Current Option Gain/Loss: Apr$120c: -57.0% & Jun$125c: -33.3%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
03/26/14: XEC slowly drifted lower all session before settling on short-term technical support at its 10-dma.

I am no suggesting new positions at the moment.

We have our stop loss at $112.45, which is just below last Thursday's low.

- Suggested Positions -

Long APR $120 call (XEC1419D120) entry $3.49

- or -

Long JUN $125 call (XEC1421F125) entry $5.40

03/21/14 triggered @ 118.25

Entry on March 21 at $118.25
Average Daily Volume = 1.3 million
Listed on March 20, 2014




PUT Play Updates

Aegerion Pharmaceuticals - AEGR - close: 45.01 change: -1.20

Stop Loss: 50.75
Target(s): 40.25
Current Option Gain/Loss: - 2.2%
Time Frame: exit PRIOR to April expiration
New Positions: see below

Comments:
03/26/14: Yesterday AEGR was up $1.20. Today shares reversed that gain and look poised to break down below the $45.00 level. I am not suggesting new positions at this time.

Earlier Comments:
I am suggesting small positions because biotech stocks can be volatile and AEGR already has short interest nearing 20% of its small 28.3 million share float. The Point & Figure chart for AEGR is bearish with a $41 target.

*small positions to limit risk*

Long Apr $45 PUT (AEGR1419P45) entry $2.20*

03/24/13 triggered @ 46.90

Entry on March 24 at $46.90
Average Daily Volume = 1.3 million
Listed on March 22, 2014


Monster Beverage - MNST - close: 68.18 change: -0.02

Stop Loss: 71.10
Target(s): 63.00
Current Option Gain/Loss: -29.4%
Time Frame: exit prior to April expiration
New Positions: see below

Comments:
03/26/14: MNST tried to bounce but shares reversed near a short-term trend of lower highs. The stock closed nearly unchanged on the session, which is somewhat of a warning signal for the bears that MNST didn't really participate in the market's decline today.

Earlier Comments:
Our target is $63.00 (just above the 200-dma). More conservative traders may want to exit near $65.00, which could be new support. FYI: The Point & Figure chart for MNST is bearish with a $64 target.

- Suggested Positions -

Long APR $65 PUT (MNST1419P65) entry $0.85

03/22/14 new stop @ 71.10
03/20/14 triggered @ 69.00

Entry on March 20 at $69.00
Average Daily Volume = 1.7 million
Listed on March 19, 2014


Target Corp. - TGT - close: 59.20 change: +0.14

Stop Loss: 60.35
Target(s): 55.15
Current Option Gain/Loss: -21.4%
Time Frame: exit PRIOR to April expiration
New Positions: see below

Comments:
03/26/14: It was another disappointing day for TGT bears with the stock closing in positive territory while the rest of the market sinks. That's not a good sign for put owners. The only good news was the intraday failed rally at resistance near $60.00 in TGT.

In other news TGT has been hit with another lawsuit, this time by two banks seeking class-action status over TGT's security breach.

Earlier Comments:
If triggered our short-term target is $55.15 since the $55.00 level has been support in the past. However, more aggressive investors may want to aim lower. The Point & Figure chart for TGT is bearish with a $51 target.

- Suggested Positions -

Long Apr $60 PUT (TGT1419P60) entry $1.68

03/25/14 triggered @ 58.80

Entry on March 25 at $58.80
Average Daily Volume = 6.9 million
Listed on March 22, 2014


Twitter, Inc. - TWTR - close: 44.43 change: -3.45

Stop Loss: 47.35
Target(s): 41.85
Current Option Gain/Loss: +233.3%
Time Frame: 3 to 5 weeks
New Positions: see below

Comments:
03/26/14: The sell-off in TWTR is picking up steam. Shares plunged another -7.2% today and broke down through the $45.00 level. Our exit target is $41.85 but more conservative traders may want to start taking money off the table now. Listening to the Fast Money traders on CNBC today many of them were suggesting the sell-off was getting over done and the stock could bounce soon.

We are moving our stop loss down to $47.35.

Earlier Comments:
TWTR currently has 544.7 million shares outstanding. There is a major lock up expiring on May 6th when another 474 million shares will come available for sale by insiders. It seems unlikely that TWTR is going to rally ahead of such a massive lock up expiration.

TWTR can be a volatile stock. Therefore we are suggesting small positions to limit risk.

- Suggested Positions -

Long Apr $50 PUT (TWTR1419P50) entry $1.80

03/26/14 new stop @ 47.35
03/25/14 new stop @ 53.55
03/24/14 new stop @ 54.15
03/20/14 new stop @ 55.15
03/18/14 adjust the exit target from $46.50 to $41.85
03/15/14 adjust exit target from $50.25 to $46.50
03/12/14 trade opens at $54.25

Entry on March 12 at $54.25
Average Daily Volume = 11.4 million
Listed on March 11, 2014



CLOSED BULLISH PLAYS

Greenbrier Companies - GBX - close: 44.23 change: -2.12

Stop Loss: 44.90
Target(s): April call target: $49.85, June call target: $54.75
Current Option Gain/Loss: Apr$50c: -61.1% & Jun$50c: -40.0%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
03/26/14: The market-wide stock market weakness weighed heavily on GBX today. Shares reversed this morning and underperformed the market with a -4.5% decline. The stock broke down under support and hit our stop loss at $44.90.

- Suggested Positions -

Apr $50 call (GBX1419D50) entry $0.90 exit $0.35* (-61.1%)

- or -

Jun $50 call (GBX1421F50) entry $2.00 exit $1.20* (-40.0%)

03/26/14 stopped out
*option exit price is an estimate since the option did not trade at the time our play was closed.
03/25/14 new stop @ 44.90
03/18/14 adjust exit target for June calls from $53.50 to $54.75
03/13/14 opened at $46.25

chart:

Entry on March 13 at $46.25
Average Daily Volume = 608 thousand
Listed on March 12, 2014


Russell 2000 ETF - IWM - close: 114.69 change: -2.24

Stop Loss: 115.95
Target(s): TBD
Current Option Gain/Loss: -48.0%
Time Frame: exit prior to May expiration
New Positions: see below

Comments:
03/26/14: The small cap index continued to underperform with its fourth down day in a row and a breakdown below short-term support near $116.00. Our stop loss was hit midday at $115.95.

- Suggested Positions -

May $120 call (IWM1417E120) entry $2.50* exit $1.30** (-48.0%)

03/26/14 stopped out
*option exit price is an estimate since the option did not trade at the time our play was closed.
03/25/14 new stop @ 115.95
03/17/14 triggered @ 118.25
*option entry price is an estimate since the option did not trade at the time our play was opened.

chart:

Entry on March 17 at $118.25
Average Daily Volume = 43 million
Listed on March 15, 2014


VMware, Inc. - VMW - close: 105.56 change: -4.52

Stop Loss: 106.45
Target(s): 114.75
Current Option Gain/Loss: + 15.7%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
03/26/14: Ouch! It was a painful day for VMW. The stock failed near resistance in the $111.00-111.50 zone again this morning and then crashed toward the $105.00 area. Our stop loss was hit at $106.45.

- Suggested Positions -

Apr $105 call (VMW1419D105) entry $3.50 exit $4.05* (+15.7%)

03/26/14 stopped out
03/22/14 new stop @ 106.45
03/20/14 new stop @ 105.85
03/18/14 new stop @ 104.45, adjust exit target from $114.00 to $114.75
03/17/14 new stop @ 103.80, traders may want to take profits now
03/11/14 triggered on gap higher at $104.08, suggested entry was $103.55

chart:

Entry on March 11 at $104.08
Average Daily Volume = 2.0 million
Listed on March 10, 2014