Editor's Note:
Good evening. I do not have new plays to release tonight but will be back with one or two tomorrow. One stock I am considering a long position in is Hologic, Inc (HOLX). The stock has retraced some of its recent gains and is bouncing on its 20-day and 50-day SMA's. It could run another 5% to 10% higher from current levels. There was also unusual option activity in the September 15/16 strike prices.

Our model portfolio performed extremely well today, especially IPI which was closed for a +11% gain and OII which gained +4.7% today. If the market continues bouncing in the coming days I would be looking to book some profits and/or tighten stops on long positions. Selling a portion of your positions and tightening stops to protect against a reversal in the market is a good strategy. Please email me with any questions/comments.