Editor's Note:

The NASDAQ and Russell 2000 index continue to lag behind the S&P 500 and the Dow Industrials.

DATA hit our stop loss. XEC was closed.
DE and HAL hit our entry triggers.


Current Portfolio:


CALL Play Updates

Alaska Air Group - ALK - close: 94.81 change: -0.07

Stop Loss: 90.75
Target(s): 99.75
Current Option Gain/Loss: + 4.3%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
04/03/14: ALK quietly consolidated sideways on Thursday. I don't see any changes from my prior comments.

- Suggested Positions -

Long May $95 call (ALK1417E95) entry $3.45

04/02/14 triggered @ 94.25

Entry on April 02 at $94.25
Average Daily Volume = 692 thousand
Listed on March 31, 2014


ASML Holdings - ASML - close: 92.17 change: -1.04

Stop Loss: 89.75
Target(s): 99.50
Current Option Gain/Loss: -39.4%
Time Frame: exit prior to earnings on April 16th
New Positions: see below

Comments:
04/03/14: Hmm... ASML is testing short-term support near $92.00. Today's move is also a close below the 10-dma, which is short-term bearish. 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: 87.15 change: -0.50

Stop Loss: 83.75
Target(s): 94.75
Current Option Gain/Loss: + 1.7%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
04/03/14: CBI tagged a new high this morning and then reversed to close down half a point. Look for potential support near $86.00. I am raising our stop loss to $83.75. I am not suggesting new positions at this time.

Our target is $94.75. More conservative traders may want to exit near $90.00, which could be potential round-number resistance.

- Suggested Positions -

Long Apr $85 call (CBI1419D85) entry $2.80

04/03/14 new stop @ 83.75
03/29/14 new stop @ 82.85
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


Deere & Co - DE - close: 92.06 change: +0.16

Stop Loss: 89.75
Target(s): 98.50
Current Option Gain/Loss: - 5.7%
Time Frame: exit PRIOR to earnings on May 14th
New Positions: see below

Comments:
04/03/14: DE continued to push higher and closed above $92.00 level. Our suggested entry point was hit at $92.25. I don't see any changes from our Wednesday night new play description.

Plan on exiting prior to DE's earnings report on May 14th.

- Suggested Positions -

Long May $95 call (DE1417E95) entry $1.04

04/03/14 triggered @ 92.25

Entry on April 03 at $92.25
Average Daily Volume = 3.0 million
Listed on April 02, 2014


Halliburton Company - HAL - close: 59.80 change: -0.13

Stop Loss: 57.75
Target(s): to be determined
Current Option Gain/Loss: -10.4%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
04/03/14: HAL pushed past resistance near $60.00 on an intraday basis and hit our trigger at $60.25 before reversing to close negative. Our trade is now open but I would wait for a new high (above 60.30) before initiating new positions.

- Suggested Positions -

Long May $60 call (HAL1417E60) entry $2.10*

04/03/14 triggered @ 60.25

Entry on April 03 at $60.25
Average Daily Volume = 7.7 million
Listed on March 29, 2014


Lockheed Martin - LMT - close: 163.75 change: -0.95

Stop Loss: 158.95
Target(s): to be determined
Current Option Gain/Loss: Apr$160c: +40.6% & Jun$165c: +26.4%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
04/03/14: LMT saw a little profit taking today, down -0.5%. Technically today's move has created a bearish engulfing candlestick reversal pattern. If LMT does pullback it could find support near $162 and below that near $160 and its 50-dma near $159.25. Conservative traders may want to use a higher stop.

- Suggested Positions -

Long Apr $160 call (LMT1419D160) entry $3.20

- or -

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

04/02/14 new stop @ 158.95
03/29/14 new stop @ 157.90
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: 136.14 change: +0.14

Stop Loss: 131.90
Target(s): to be determined.
Current Option Gain/Loss: +22.0%
Time Frame: Exit PRIOR to earnings on April 24th
New Positions: Yes, see below

Comments:
04/03/14: MMM hit new two-month highs before paring its gains today. I am not suggesting new positions at this time.

- Suggested Positions -

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

04/01/14 new stop @ 131.90
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


QUALCOMM Inc. - QCOM - close: 80.55 change: +0.41

Stop Loss: 77.75
Target(s): to be determined
Current Option Gain/Loss: + 6.5%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
04/03/14: Bullish analyst comments and a new $90 price target helped QCOM outperform today. If QCOM sees any profit taking look for support near its 10-dma.

Earlier Comments:
The $80.00 level could be round-number, psychological resistance. Therefore we're suggesting a trigger to buy calls at $80.25. We're not setting an exit target yet but the Point & Figure chart for QCOM is bullish with a $90 target.

- Suggested Positions -

Long May $80 call (QCOM1417E80) entry $2.30

04/02/14 triggered @ 80.25

Entry on April 02 at $80.25
Average Daily Volume = 10.5 million
Listed on March 29, 2014




PUT Play Updates

LinkedIn Corp. - LNKD - close: 176.97 change: -6.41

Stop Loss: 194.05
Target(s): 161.00
Current Option Gain/Loss: +40.7%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
04/03/14: The weakness in LNKD is accelerating with a -3.49% decline and a new multi-month closing low today.

The plan was to use small positions to limit our risk.

*small positions* - Suggested Positions -

Long MAY $175 PUT (LNKD1417Q175) entry $8.10

04/01/14 trade opens on gap higher at $185.00

Entry on April 01 at $185.00
Average Daily Volume = 2.5 million
Listed on March 31, 2014


Rackspace Hosting - RAX - close: 31.69 change: -0.07

Stop Loss: 33.25
Target(s): to be determined
Current Option Gain/Loss: - 3.8%
Time Frame: Exit PRIOR to earnings in early May
New Positions: see below

Comments:
04/03/14: RAX failed at its 10-dma again this morning but overall shares aren't moving very fast. I don't see any changes from Tuesday night's new play description.

Earlier Comments:
There is a chance that the $30.00 level could be round-number support but we're aiming lower. We're not setting a firm exit target yet but the Point & Figure chart for RAX is bearish with a $21 target.

- Suggested Positions -

Long MAY $30 PUT (RAX1417Q30) entry $1.56

04/02/14 triggered @ 31.90

Entry on April 02 at $31.90
Average Daily Volume = 2.2 million
Listed on April 01, 2014



CLOSED BULLISH PLAYS

Tableau Software, Inc. - DATA - close: 77.74 change: -3.44

Stop Loss: 74.75
Target(s): 87.50
Current Option Gain/Loss: Apr80c: -57.6% & May80c: -15.5%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
04/03/14: The unexplained weakness in DATA on Wednesday continued on Thursday with a -7.6% plunge. In the last 48 hours DATA has fallen from an intraday high of $82.10 to $70.97 this afternoon and on no discernible news.

Yesterday I suggested more conservative traders exit early. Today DATA hit our stop at $74.75.

- Suggested Positions -

Apr $80 call (DATA1419D80) entry $2.60* exit $1.10** (-57.6%)

- or -

May $80 call (DATA1417E80) entry $5.80* exit $4.90 (-15.5%)

04/03/14 stopped out
**option exit price is an estimate since the option did not trade at the time our play was closed.
04/01/14 new stop @ 74.75
03/31/14 triggered @ 76.50
*option entry price is an estimate since the option did not trade at the time our play was opened.

chart:

Entry on March 31 at $76.50
Average Daily Volume = 1.7 million
Listed on March 29, 2014


Cimarex Energy Co. - XEC - close: 116.70 change: -1.63

Stop Loss: 114.75
Target(s): 128.50
Current Option Gain/Loss: Apr$120c: -35.5% & Jun$125c: -18.5%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
04/03/14: XEC as not performing to our expectations so in last night's newsletter we decided to exit positions this morning. XEC opened at $118.49 before underperforming the market with a -1.37% decline.

- Suggested Positions -

APR $120 call (XEC1419D120) entry $3.49 exit $2.25* (-35.5%)

- or -

JUN $125 call (XEC1421F125) entry $5.40 exit $4.40* (-18.5%)

04/03/14 planned exit this morning
*option exit price is an estimate since the option did not trade at the time our play was closed.
04/02/14 prepare to exit tomorrow morning
04/01/14 new stop @ 114.75
03/27/14 new stop @ 113.75
03/21/14 triggered @ 118.25

chart:

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