11:30pm (EST)

 

1.  Market Summary 

2.  First Solar (FSLR) – Possible Turnaround?   

3.  2012 Daily/ Weekly Wrap Portfolio Update and Second Half Outlook

4.  Earnings

5.  Weekly Wrap Portfolio Update 

6.  Week Ahead

 

(To view the charts, please log into the Members Area and go to the Weekly Wrap Premium section)

 

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1.  Market Summary   

“With all the jet-setting events taking place, it does feel like some kind of stimulus package is coming but we doubt the Fed will act alone, if at all.  They will meet on Tuesday and any statements they make will be released along with the FOMC Rate Decision at 2:15pm on Wednesday. 

We do have to keep an open mind that the Fed could team-up with the ECB which would be music to the bulls’ ears.  If some kind of joint-package were to come from this week’s meetings, then the market could set new highs in August.

The ECB will meet on Thursday and there was a report over the weekend that the head of the Eurogroup, Jean-Claude Junker, said the ECB will act soon to save the euro.  He was quoted as saying “we will decide in the coming days which measures to take”. 

We lean more to the technical picture when analyzing the market and the major indexes but we do follow headlines because trend changes and new chart patterns can develop very quickly.  However, we try not to get too excited (or nervous) until we have a clear breakout or breakdown.

Earnings have been lousy but the talking heads are spinning the profit beat per share and not the revenue miss and lowered guidance.  There have been a ton of sectors and individual stocks that have seen their market cap crippled on the misses and we still believe it will only be a matter of time before the major averages catch-up.  However, that doesn’t mean the indexes can’t go higher.

So how do we see the week unfolding? 

The bulls will likely push the upper-end of resistance:  Dow 13,250; S&P 1,400 and Nasdaq 3,000; Russell 820 – into the early part of the week.  The market will likely be flat heading into Wednesday’s Fed news.  If the Fed comes out blazing guns and says something regarding quantitative easing these targets could be met.  It would then leave the possible market breakout in the ECB’s hands.

If they fail to do nothing or the market doesn’t buy the latest kick of the can down the road, look for a huge sell-off and for the bears to break through the bottom of the current trading range.  Yes, it will that ferocious if all of the knuckleheads who run the printing presses cried wolf again.”  (from 7/29/2012 Weekly Wrap/ Monday Morning Outlook)…

The bears had a 4-session win streak going into Friday but the bulls used a better-than-expected Nonfarm Payroll report to rally back and win the week.  At least that is what the headlines will say.  The 2% pop pushed the major indexes back to the top of the trading range and have the bulls looking for a breakout.  However, as you will see in the charts, the bears are right there and aren’t going anywhere without a fight.

The Dow zoomed 217 points, or 1.7%, to close at 13,096 on Friday.  The blue-chips had fallen below the 13,000 level by Wednesday and traded to a low of 12,778 during Thursday’s pullback.  However, the bulls were able to reclaim the 12,800 level and the 100-day MA by the close which setup Friday’s jump back above 13,000.  The next wave of resistance is still at 13,200 and Friday’s high was 13,133.  A move above 13,350 would signal a possible bullish breakout.  If the bears can get by 12,800 then their next targets will be 12,600 and then 12,400-12,350.  The Dow came into the week at 13,075 and was able to add 21 points, or 0.2%, for the week.  For 2012, the blue-chips are showing a gain of 879 points, or 7.2%.

Here is last week’s chart of the Dow:

The S&P 500 surged 26 points, or 1.9%, to settle at 1,391.  The index pushed a high of 1,390 on Monday’s open but couldn’t quite kiss 1,400 which is near-term resistance.  Wednesday’s close at 1,375 opened the door for a test down to 1,350 and the 50-day MA.  On Thursday, the bears pushed 1,354 before the bulls recovered half of their losses.  Friday’s run to 1,394 represented a “higher high” for the week but resistance held heading into the weekend.  We have said a move above 1,425 would represent a possible trend change while a close below 1,350 would be bearish.  Same deal for this week.  The S&P 500 was at 1,386 to start Monday’s open and was up 5 points, or 0.4%, for the week.  For the year, the index is higher by 134 points, or 10.6%.

Last week’s chart for the S&P 500:

The Nasdaq soared 58 points, or 2.0%, to end at 2,968.  Tech traded to a high of 2,970 to start the week but closed below 2,950 and the 100-day MA on Monday which lead us to believe a test to support at 2,900 and the 50-day MA was coming.  Sure enough, during Thursday’s debacle, the Nasdaq traded down to 2,890 before recovering to finish at 2,909 by the bell.  The bulls are still trying to clear 3,000 which is near-term resistance but until 3,150 is conquered, we remain cautious.  The Nasdaq started the week at 2,958 and added 10 points, or 0.3%, following the late-week fireworks.  Year-to-date, index is up 363 points, or 13.9%. 

Here is last week’s chart for Tech:

The Russell 2000 added 20 points, or 2.6%, to close at 788.  The small-caps tested 800 on Monday’s open after reaching 798.69 but it was all downhill afterwards.  The index closed below its 50-day and 200-day MA’s on Wednesday’s pullback and we thought there was a good chance 750 would come into play which is crucial support.  The Russell touched a low of 765 on Thursday.  We said on Friday we wanted to see a close below 790 which is right at the 100-day MA.  Friday’s high was 791.09.  There is still a chance the bulls crack 800 this week and a possible run to 825 would follow but we won’t get excited until 850 is taken out.  The bears are still looking to test 750 but they will need to take out 780 again.  The Russell 2000 came into the week at 796 but finished lower by 8 points, or 0.9%, when all was said and done.  For 2012, the index is higher by 48 points, or 6.4%.

Here is last week’s chart for the Russell 2000:

The S&P Volatility Index ($VIX, 15.64 down 1.93) fell 10% on Friday after pushing 20 for much of the week.  The index held the 17.50 level up until Thursday’s close but after the test to resistance, the VIX is back in the mid-teens.  We have said the VIX could trade to the low-teens on a market breakout but the index only fell a point for the week.  The first important number to watch is the mid-July low of 15.45 which is within spitting distance.  If this triggers, look for 14.43 to hold and was the VIX closing low in mid-March.  The intraday low was 13.66 and when the S&P reached its peak for the year.  The bears will try to push 17.50 to start the week and will be eyeing 20 again if they can get the momentum back.   

Last week’s chart of the VIX:

The market fell for the ninth-straight Monday while Friday was another up day.  We have mentioned all summer bearish Monday’s and Friday’s usually lead to lower markets and bullish M/F’s often signal a higher market.  Considering the current 3-month trading range, the mix of negative Monday’s and mostly bullish Friday’s have certainly contributed to the action. 

The bears were on the verge of doing some real damage before Friday’s rally (look real close at the Russell 2000 chart) and we were looking for confirmation that a negative close on Friday could get the ball rolling to the downside.  That didn’t happen.

The talking heads and Wall Street pros will tell you the market rallied off the Nonfarm Payrolls but this is simply not the case.  We watched futures trade flat for much of Thursday past midnight and into Friday morning.  The European markets open at 3am (EST) and about an hour before they opened U.S. futures got a pop.  It seems as though the overseas markets were more bullish on Mario Draghi’s statements following the ECB (European Central Bank) meeting than Wall Street was although no real immediate action was taken.

Wall Street never likes to read the fine print and often does a knee-jerk reaction to any major news event.  A closer look at the ECB “minutes” revealed some type of bond jargon that could include issuing banking licenses to the ESM (European Stability Mechanism) and the EFSF (European Financial Stability Facility). 

This would allow the ESM and the EFSF to borrow money from the bond markets in which it could then buy eurozone sovereign debt.  They would then use those bonds as “collateral” to secure loans from the ECB to buy more sovereign bonds which it would then use as collateral (again).  Got it? 

If we dummy it down, to us, it just seems like a bunch of smoke-and-mirrors that will take 3-4 weeks to implement (by their estimates) but we all know how fast European leaders work.

Yes, the jobs number was helpful in fueling the rally but after an opening pop, the market stayed flat for much of the session.  The flat action came right at resistance but there was no selloff or pullback into the close.

Here at home the Federal Reserve did nothing and disappointed the suit-and-ties who were looking for a QE3 sugar fix.  We repeatedly said the Fed wouldn’t act but the zombies will be meeting again at the end of the month in Jackson Hole, Wyoming. 

There is a strong feeling that some type of stimulus package could come in September and if there is, Fed Chairman Ben Bernanke, could use the conference as his stage.  He did in 2010 when he announced a QE (quantitative easing) program which lead to a 10% September rally for the S&P.  The index closed at 1,049 on the last day of August 2010 and reached a peak of 1,157 before closing at 1,141 on September 30, 2010.     

Of course, the belief was the Fed would have acted this week if Nonfarm payrolls would have been a disaster but the bottom line is they won’t act until the fuse is about to blow.  This means the ball will be in Europe’s court until they drop it and the market will still be subject to headline risk.

The key to everything going smoothly for the bulls is Germany which has opposed much of the shenanigans from the weaker countries in the eurozone and seems to be getting tired of the bailouts.  Spain could ask for one this week.  If Germany goes along with the ECB’s “new plan” then we would expect the market to rally but again, this could take a few weeks.

Economic news will be light this week and 2Q earnings season is winding down.  Volume has been super low and August is typically a slow and weak month for Wall Street traders as they get the last of their summer fun in. 

The charts are showing mixed signals with the small-caps lacking with Tech and the big-caps pushing possible new highs.  If we get a tenth-straight lower Monday, it would be good news for the bears. 

If Monday turns out to be bullish, along with the upcoming Friday, the market could test its highs for the year with a possible breakout on deck.  A lower Monday and a negative Friday could mean the indexes have topped and we stay in the trading range with pressure to the downside.  However, August election years are tricky as they can sometimes be VERY bullish so both scenarios are possible.  

As we head to press, futures are showing a slightly higher open for Monday.  Dow futures are up 4 points to 13,059 while the S&P 500 futures are higher by a point to 1,389.  The Nasdaq 100 futures are advancing 5 points to 2,676.      

 

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Key of Technicals Used In Following Articles

 

2.  First Solar (FSLR) – Possible Turnaround?

By Michael Bryant

 

Ever since the credit crisis and an over-capacity of solar panels, the solar industry has been in a decline, mainly because of worry that governments will cut back on solar contracts.  Market Vectors Solar Energy ETF (KWT, $33.91, up $0.33) is a fund which attempts to replicate the Ardour Solar Energy Index, and has been falling since its creation in 2008 with no turnaround in sight.  However, once the global economy slowly recovers, the solar industry could have some hope and the pledge by Germany and Japan to increase solar use is promising to the industry. 

Industry leader First Solar (FSLR, $17.06, down $0.87) surprised with its recent earnings and may be a turnaround story after it beat expectations. 

Silicon is far more abundant than cadmium or tellurium, but CdTe panels have been shown in a lab to achieve some of the highest efficiencies for solar cell electric power generation.  Although the company is not there yet, as shown in the graphs below, their cells may one day achieve higher efficiencies that silicon cells, which have efficiencies of 14-19%.

In crystalline semiconductors, valence electrons in the valence band can be excited to the conduction band where they can move freely to form a current.  The difference between the valence band and the conduction band is called the band gap.  In solar cells, the size of the band gap determines the amount of energy the electrons can absorb.  The CdTe solar cell has a band gap almost perfectly matched to the distribution of photons in the solar spectrum.  Silicon wafers have a smaller band gap.  Thus, CdTe electrons can absorb more energy from the photons than a silicon wafer can.  Thin films are based on using thinner semiconductor layers to absorb and convert sunlight

Both Cd and Te prices have been falling, due to little use for the elements besides solar panel production but only about 800 metric tons of Te is mined per year.  Most of it comes as a byproduct of copper, with smaller byproduct amounts from lead and gold.  One gigawatt (GW) of CdTe photovoltaic (PV) modules requires about 93 metric tons.  In the last decade, new supplies of tellurium-rich ores have been located in China and undersea ridges.  Meanwhile, Cd is an extremely toxic metal and is banned by the European Union’s Restriction of Hazardous Substances Directive (RoHS), which restricts use of certain hazardous substances in electrical and electronic equipment.  According to the company’s annual report, the CdTe solar panel is not in both the RoHS exemption product list and the restricted product list.  Thus, the product is safe for now, but its future RoHS compliance status is uncertain.  First Solar has a recycling facility for recycling modules at the end of their useful life.

Although harnessing the energy of the sun is ideal, almost any other energy source is more productive and economical than solar right now.  Thus, it is difficult to see the technology catching up with the other forms of energy anytime soon.  That is why government contracts and subsidies are very important to the industry and as environmental awareness grows, solar will benefit.  Also, the continued negative sentiment to nuclear energy has promoted countries to increase solar use.

In March of this year, First Solar decided to stop its production of a new manufacturing plant in Vietnam and listed it for sale.  A corresponding impairment charge of $92.2 million was recorded, and the carrying amount as of June 30th was listed $45.9 million under assets for sale on the balance sheet.

Management plans to close manufacturing operations in Frankfurt (Oder), Germany by the end of 2012.  Due to the lack of policy support for utility-scale solar projects in Europe, they do not believe it is wise to continue manufacturing operations in Germany.  Additionally, they plan to substantially reduce the size of operations in Mainz, Germany and elsewhere in Europe.  Further, they shutdown four production lines at a manufacturing center in Kulim, Malaysia in May. These actions, combined with additional reductions in administrative and other staff in North America, will reduce workforce by approximately 2,000, leaving the company with about 5,000 full-time employees.  It will begin a new 139 megawatt project, Campo Verde Solar Project, in southern California in the 3rd quarter.

The January 4th, 2011 acquisition of Ray Tracker, a tracking technology business, helped boost their current balance sheet and results of operations.  Relatively inexpensive single-axis tracking systems can add 25% output per installed watt.  Tracking also produces a smoother output plateau around midday, allowing afternoon peaks to be met.

The company’s net sales have grown over the years.  Cash has been increasing up till 2010, while debt has been declining.

The stock surged 18% after the company reported 2nd quarter earnings last week which caught our attention because we have always liked shorting the stock by using put options.  Earnings jumped 81%, coming in at $1.27 per share, beating analysts’ estimates of $0.92.  Excluding one-time charges, the firm earned $1.65 per share.  Revenue rose to $957 million, up $460 million from the prior quarter and $425 million from the year-ago quarter, also easily beating analysts’ estimates of $805 million.  Analysts expect 3rd quarter earnings of $1.19 per share on revenue of $1.01 billion.

 

First Solar also increased its full-year earnings guidance to $4.20-$4.70 per share from its previous range of $4.00-$4.20 and increased its revenue guidance to $3.6-$3.9 billion from $3.5-$3.8 billion.  Taking its 1st and 2nd quarter earnings of -$0.08 and $1.27 respectively and adding to analysts’ estimates of $1.19 and $1.81 gives $4.19, slightly lower than the low end of guidance.  Doing the same process for revenue gives $3.70 billion, slightly higher than the low end of guidance.  Thus, analysts may have to raise earnings and possibly revenue estimates, causing the stock to rise.

When comparing First Solar to four of its top publicly-traded competitors and the industry, the company appears attractively priced. Positives (green) outnumbering negatives (red) 15 to 10 but it looks better when one considers that price/sales of 0.50, price/book of 0.46, and price/revenue of 0.47 are not bad.  They are just higher than that of industry peers listed.

 

SPWR = SunPower             STP = Suntech Power            TSL = Trina Solar

YGE = Yingli Green Energy  Industry = Semiconductor – Specialized

The short interest is 46.56%, and is generally not a good sign due to the fact that many investors are betting against the stock.  This can lead to short-squeezes which is what happened when shares rallied from $14.80 to $17.93 on the earnings beat.  However, the rising short interest (3.24%) and both the recent institutional and insider selling could mean more bad news.  On the flip side, insider and institutional sales could lead to future buying again if they got the story wrong.

First Solar shares have taken a beating over the past few years, and the worst news could already be priced in.  Things could be stabilizing, as evidenced by the strong revenue growth rate (79.70%) and very low PEG ratio (0.16).  Note that only FSLR and SPWR have positive growth rates out of the five companies listed.  Cash is 1.43 times debt, while the current ratio says that the company has more than sufficient current assets to cover its current liabilities.  And interestingly, the EV/EBITDA says it will only take 2.20 years for a buyer to recover the purchase amount.  Thus, the stock could be an attractive takeover candidate if a turnaround is in place.

At $17.06, the stock is below its mean target of $23.06 made by the 25 analysts recorded by Thomson/First Call.  Median target is $20.00, high target is $60.00, and low target is $9.00.  Using a scale of 1.0 as a strong buy and 5.0 as a sell, the average rating of the stock was 2.7, up from 2.9 a week ago.

 

Current Month

Last Month

Two Months Ago

Three Months Ago

Strong Buy

3

3

3

3

Buy

5

5

4

5

Hold

24

25

26

27

Underperform

3

3

4

2

Sell

2

2

2

2

 

 

This looks like a good opportunity for a straddle or strangle option trade, if there is any follow through or a pullback.  Keep an eye on the September 20 calls (FSLR120922C00020000, $0.65, down $0.35) for a quick trade if shares can regain their momentum following Friday’s 5% pullback.  If not, watch the September 14 puts (FSLR120922P00014000, $0.70, up $0.15) for a drop back below $15.  Together, the calls and puts would form a strangle option trade to whereas First Solar would need to be above $21 or below $13 by mid-September for the trade to have success.

 

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3.  2012 Daily Portfolio Update and Second Half Outlook

 

By Rick Rouse

We are trying to add some notes to our 2012 Daily Track Record which should help you understand how we trade.  We also appreciate the feedback and we do try to implement your ideas and suggestions when we can.

We still have 4 trades left over from June and we slowed our trading in July as we only made 8 recommendations for the Daily.  So far, we are 4-0 on the closed July trades but the June trades face serious trouble if the market heads higher as they expire in less than 2 weeks.

If we had to close all of the July trades today we would be 4-4 but we only have 1 option expiring in August and we still feel FCX can turn us a profit.   This means we could be 5-0 on the July trades when August options expire or 4-1.  We would have 3 remaining July trades that will take us to mid-September and we added to trades in August (VECO and WYNN). 

We have been warning for months that we have been in a choppy, violent trading range and while we hope it ends this week to the downside, we are prepared it could stretch out into late August with a possible rally.  The June trades will depend on what happens over the next 2 weeks.

We are not sure which way the market will break but the longer a stock or the market stays in a trading range, the bigger the breakout or breakdown will be.

As far as our notes you will see on our 2012 Track Record, let’s go over them.

From late November 2011 until late February 2012 we went 28-6 with 7 triple-digit winners (+124%, +100%, +114%, +131%, +200%, +107%, +153%) for the Daily.  Our side note was “bulls running” and they did.  The reason we were successful is that everyone and the Wall Street pros were calling for a pullback following a Christmas rally that never came.  The talking heads didn’t see a surge by Christmas and said it wasn’t coming.

The problem was historical “Christmas rallies” don’t start until AFTER Christmas which is where the talking heads often get it wrong so remember that this year.  The market did start to rally in late December which lasted until the end of February but everyone was waiting for a pullback!  We weren’t, we were aggressive and we said the market was going to surge.  The Nasdaq made a move from 2,600 to 3,000 over this time frame.  This gave us a GREAT start for the year.

We then labeled February “choppy” as it is historically a weak month and normally leads into March but the market got stuck in a trading range.  We recommended 35 trades with March and April option expiration dates and we were 19-16 as the market stayed in a 2-month trading range.  We had 5 triple-digit winners with two MONSTER gains: +195%, +110%, +292%, +475%, +171% – which is why WE trade through trading ranges.  The Nasdaq hit 3,134 in late March while the low was 2,900.

The majority of our first 80 trades were call options.

The suit-and-ties turned bullish again in April and were calling for a breakout but we started recommending put options.  The talking heads were expecting a breakout to new highs on 1Q earnings but we said a pullback was coming. 

From early April until the end of May we recommended 39 trades and we were 34-5.  At one-point, you will see where we hit 18 winning trades in a row.  Of the 34 winners, we had 10 triple-digits winners which included +576%, +464%, +180%, +100%, +167%, +172%, +119%, +113%, +144%, +145%.

On May 21, we wrote in our side notes “choppy action” but we still expected the market to test new lows which it would in June by the second week.

For June, we recommended 14 trades as the market was on the verge of a breakdown.  The Dow was in danger of falling below 12,000 while the Nasdaq was threatening the 2,700 level so we stayed short.  Two weeks later, the market was back near its highs for the year but resistance held.  We are 4-6 on those trades with 4 open positions with August expiration dates.  These could still go either way.

We talked about the July trades earlier.

This is why we wanted to prepare you for a possible choppy August but we do see a test to the June lows, or worse, from the current highs by October.  Then again, it just depends on the headlines and the charts.  If there is a breakout to new highs, we cannot ignore the price action.  This means we will have to continue to trade light until we get the clear signal we are in a trend change which is when we will step on the gas.

The beauty of the Weekly Wrap is that we sell options to lower our cost basis and time is on our side.  We know some of you have been nervous and are having mixed results with the Daily but you can always stop trading until a trend is established.  We can afford to trade through the trading range because we have had a tremendous year with dozens of triple-digit winners, some over 500%.  Although we have been in a choppy market, you can see from the CLOSED trades that we have closed 7-out-of-last-8 trades for profits.  

With all things equal, these 500% wins allow for us to have five 100% losers which is the most you can lose on an option trade.  Of course, losing 100% on one trade if it is your only trade is no fun but we don’t just take one trade.  We do a lot of trading and as you can see, we try to leverage our risk as best we can.

For the year we are 112-31 which is a 78% win rate for all of our 2012 trade recommendations.  We are one of the highest and best-ranked newsletters on the internet.  Most option newsletters don’t take their own recommendations and don’t have track records.  We do both.  This includes our Weekly Wrap which is 22-0 and strives for monthly double-digit profits.

We know new subscribers can get caught in trading ranges and we do all we can to present you the best trades.  MOST option newsletters fail to keep track records and we can tell you the super popular ones don’t have track records at all and will only report their winners to you.  We know they are having a lousy year because our new subscribers tell us.

Of course, we are only worried about what we are doing and we know the trading range has been hard for those of you who may have signed-up with us in June or July.  We do care about your success which is why we have explained everything in detail tonight so please keep in mind that while we tend to hit on nearly 80% of our trades, even we get frustrated in choppy markets.  

 

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4.  Earnings 

The companies in BOLD, we are looking at as possible trades and we may list call or put options on them in our Daily Newsletter.  If they become official recommendations, we sent out Trade Alerts or include them in our 9am and 1pm updates that come out during the week (Quotes are from 8/3/12 close)

By Catherine Tierney

 

Monday

Acorn Energy (ACFN, $8.76, up $0.08), Adams Resources & Energy (AE, $40.80, down $0.76), The AES (AES, $12.13, up $0.07), Air T (AIRT, $8.65, up $0.01), Alexander’s (ALX, $429.30, up $2.03), Alnylam Pharmaceuticals (ALNY, $18.40, down $0.29), Ameriana (ASBI, $6.00, down $0.09), America First Tax Exempt Investors (ATAX, $5.46, up $0.01), American Independence (AMIC, $5.24, up $0.09), American States Water (AWR, $40.81, up $0.16), Amicus Therapeutics (FOLD, $5.14, up $0.21), AmTrust Financial (AFSI, $29.39, down $0.40), Anaren (ANEN, $19.53, down $0.54), Apollo Commercial Real Estate Finance (ARI, $16.79, up $0.09), Argo Group International (AGII, $29.43, up $0.02), Ascent Capital (ASCMA, $50.07, up $0.29), Asure (ASUR, $6.69, up $0.18), AV Homes (AVHI, $12.23, down $0.15), Black Diamond (BDE, $9.74, down $0.10), Black Hills (BKH, $31.46, down $0.39), Blueknight Energy (BKEP, $6.71, down $0.05), Boston Properties (BXP, $110.77, down $0.13), Bottomline. (EPAY, $18.49, down $0.50), Bristow (BRS, $45.17, down $0.60), Brookdale Senior Living (BKD, $16.12, down $0.34), BRT Realty Trust (BRT, $6.32, up $0.07), Caesars Entertainment (CZR, $8.29, down $0.09), Capital Senior Living (CSU, $11.00, down $0.24), Capital Southwest (CSWC, $102.53, down $1.87), Caribou Coffee (CBOU, $11.16, down $0.21), Chindex (CHDX, $10.60, up $0.15), Churchill Downs (CHDN, $55.85, up $0.51), Cinemark (CNK, $23.56, up $0.18), Citizens & Northern (CZNC, $18.39, down $0.10), Citizens (CIA, $9.87, down $0.47), CKX Lands (CKX, $18.25, up $0.75), Clean Energy Fuels (CLNE, $13.72, down $0.39), Clearsign Combustion (CLIR, $7.22, up $0.09), Cms Bancorp (CMSB, $7.00, up $0.20), Cognizant Technology Solutions (CTSH, $56.26, down $0.51), Coleman Cable (CCIX, $8.26, down $0.41), Colonial Financial Services (COBK, $13.25, up $0.06), Compressco Partners (GSJK, $13.70, down $0.38), Concho Resources (CXO, $87.58, up $2.33), Connecticut Water Service (CTWS, $30.03, down $0.20), Consolidated Water (CWCO, $7.99, down $0.21), Core Molding Technologies (CMT, $7.85, down $0.16), Cornerstone OnDemand, (CSOD, $23.74, down $0.04), Cornerstone Therapeutics (CRTX, $7.07, down $0.63), CTI Industries (CTIB, $5.00, down $0.05), CubeSmart (CUBE, $11.84, down $0.15), Cutera (CUTR, $6.88, up $0.06), Cyanotech (CYAN, $6.65, down $0.15), DexCom (DXCM, $11.10, up $0.09), Dillard’s (DDS, $65.32, up $0.09), Douglas Dynamics (PLOW, $12.83, down $0.54), Dril-Quip (DRQ, $72.43, down $0.88), DTS (DTSI, $17.99, down $0.64), Ducommun (DCO, $9.78, down $0.08), Earthstone Energy (ESTE, $15.25, down $0.21), ECA Marcellus Trust I (ECT, $20.99*, down $0.01), Ellington Financial  (EFC, $22.73, down $0.22), Escalade (ESCA, $5.76, down $0.09), Feihe International (ADY, $7.02, down $0.01), First Citizens (FCZA, $5.56, up $0.29), Flagstone Reinsurance (FSR, $6.62, down $0.36), FreightCar America (RAIL, $20.11, down $0.23), Friedman Industries (FRD, $9.00, down $0.12), Fuel-Tech (FTEK, $5.33, up $0.10), FX Energy (FXEN, $6.53, down $0.20), Gencor (GENC, $7.51, down $0.12), GenMark Diagnostics (GNMK, $5.59, down $0.06), Glen Burnie (GLBZ, $11.35, Flat), Gold Resource (GORO, $17.95, up $0.02), Goodrich Petroleum (GDP, $11.58, down $0.02), Grand Canyon Education (LOPE, $16.13, down $0.51), Gyrodyne Co. of America (GYRO, $113.13, down $0.86), Hallmark Financial (HALL, $7.94, down $0.31), Halozyme Therapeutics (HALO, $8.56, down $0.46), Handy & Harman (HNH, $12.87, down $0.52), Harvest Natural Resources (HNR, $7.72, down $0.16), HCA Holdings (HCA, $26.24, down $0.24), Health Care REIT (HCN, $61.92, down $0.31), Hilltop (HTH, $10.50, down $0.01), Horsehead (ZINC, $8.98, down $0.05), Houston Wire & Cable Company (HWCC, $10.92, down $0.53), Hudson Pacific Properties (HPP, $17.31, down $0.47), Idenix Pharmaceuticals (IDIX, $8.32, down $1.81), Independence (IHC, $9.42, down $0.02), Innophos (IPHS, $56.73, down $1.24), Interline Brands (IBI, $25.39, up $0.01), International Bancshares (IBOC, $18.05, down $0.28), InterOil (IOC, $88.44, up $2.80), Intersections (INTX, $13.66, down $0.58), INTL FCStone (INTL, $18.31, down $0.74), ION Geophysical (IO, $6.53, down $0.12), Isis Pharmaceuticals (ISIS, $11.80, down $0.32), JDA (JDAS, $29.32, down $0.26), John Bean (JBT, $14.22, down $0.43), KAR Auction (KAR, $15.81, down $0.20), Kemper (KMPR, $32.40, down $0.32), Kennedy-Wilson Holdings (KW, $13.37, down $0.31), Kingstone (KINS, $6.28, down $0.02), Kosmos Energy (KOS, $9.68, up $0.14), Landauer (LDR, $56.45, down $0.51), Leap Wireless (LEAP, $5.65, down $0.03), LHC (LHCG, $17.53, down $0.36), Loral Space & Communications (LORL, $71.90, down $0.05), MakeMyTrip (MMYT, $16.09, down $0.49), Malvern Federal Bancorp (MLVF, $8.74, Flat), Manitowoc Company (MTW, $12.00, Flat), Matador Resources (MTDR, $10.22, down $0.25), Maxygen (MAXY, $5.99, down $0.04), McDermott (MDR, $11.47, down $0.23), Medallion Financial (TAXI, $11.10, up $0.02), MedCath Corp. (MDTH, $7.66, down $0.06), Medgenics (MDGN, $11.80, down $0.06), Mexco Energy (MXC, $6.10, up $0.30), Middleby (MIDD, $96.86, down $1.06), Midstates Petroleum (MPO, $8.13, down $0.39), Mindray Medical (MR, $29.80, Flat), Nam Tai Electronics (NTE, $6.22, up $0.11), Nam Tai Electronics (NTE, $52.94, down $0.75), Nam Tai Electronics (NTE, $6.22, up $0.11), National Health (NHI, $52.94, down $0.75), National Western Life Insurance (NWLI, $139.00, down $2.59), Natural Resource (NRP, $19.84, down $0.02), New York Mortgage (NYMT, $6.90, up $0.10), Northwest Pipe (NWPX, $23.54, down $0.81), Nymox Pharmaceutical (NYMX, $6.05, down $0.14), Oasis Petroleum (OAS, $26.12, down $0.06), Ohio Valley (OVBC, $19.13, down $0.35), One Liberty (OLP, $18.45, down $0.44), Orbotech (ORBK, $8.00, Flat), Otter Tail (OTTR, $23.11, down $0.36), OYO Geospace (OYOG, $96.66, up $1.88), P&F Industries (PFIN, $5.30, up $0.03), PAA Natural Gas (PNG, $18.16, down $0.04), Panhandle Oil and Gas (PHX, $28.70, down $2.00), Permian Basin Royalty Trust (PBT, $18.20, down $0.04), Plains All American Pipeline (PAA, $86.10, down $0.83), Plantronics (PLT, $32.25, down $32.25, down $0.57), PMC Commercial Trust (PCC, $7.73, up $0.01), Power Integrations (POWI, $35.01, down $0.23), Preformed Line Products (PLPC, $52.70, down $1.43), Premier Financial (PFBI, $8.02, up $0.02), Presidential Life (PLFE, $13.85, down $0.04), ProAssurance (PRA, $89.49, down $0.08), Providence and Worcester Railroad (PWX, $13.10, down $0.30), Psychemedics (PMD, $10.79, down $0.10), Quality Distribution (QLTY, $9.61, down $0.49), RCM Technologies (RCMT, $5.49, up $0.10), Repros Therapeutics (RPRX, $8.59, down $0.50), Resolute Energy (REN, $8.47, down $0.20), Responsys (MKTG, $10.63, down $0.52), Retail Properties of America (RPAI, $9.94, down $0.03), RGC Resources (RGCO, $18.31, up $0.31), RigNet, (RNET, $18.55, down $0.13), RLJ Lodging Trust (RLJ, $17.07, down $0.53), Rouse Properties (RSE, $13.57, down $0.27), Safe Bulkers (SB, $6.04, up $0.08), San Juan Basin Royalty Trust (SJT, $15.72, down $0.58), Scientific Games (SGMS, $8.20, down $0.26), Seaboard (SEB, $2,153.00, down $47.00), SeaCube Container Leasing (BOX, $17.19, down $0.37), Servotronics (SVT, $7.86, Flat), SIFCO Industries (SIF, $18.50, down $0.75), Sohu.com (SOHU, $35.30, up $0.25), Spark Networks (LOV, $5.38, down $0.41), Spectrum Pharmaceuticals (SPPI, $13.75, down $0.24), STAG Industrial (STAG, $14.43, down $0.03), Standard Motor Products (SMP, $13.75, down $0.31), Stifel Financial (SF, $29.43, down $0.67), Stonemor Partners (STON, $25.14, down $0.27), Strategic Hotels & Resorts (BEE, $6.01, down $0.05), Sun Hydraulics (SNHY, $22.09, down $0.49), Sykes Enterprises (SYKE, $14.30, down $0.70), SynagevaBioPharma Corp. (GEVA, $48.74, down $1.32), Synalloy (SYNL, $12.02, down $0.49), Tandy Leather Factory (TLF, $5.07, down $0.05), Targa Resources (TRGP, $44.26, up $0.21), Targa Resources Partners (NGLS, $38.54, up $0.57), Taro Pharmaceutical (TARO, $40.85, up $0.15), Technical Communications (TCCO, $7.51, down $0.35), Tesco (TESO, $11.31, down $0.28), Tesoro Logistics (TLLP, $37.49, up $1.41), Textainer (TGH, $36.95, down $0.67), The GEO (GEO, $2

3.21, up $0.09), Tilly’s (TLYS, $16.35, down $0.26), Titanium Metals (TIE, $11.37, down $0.29), Tower (TWGP, $18.84, up $0.20), Transmontaigne (TLP, $36.30, up $0.31), Tree.Com (TREE, $13.14, up $0.22), Tumi Holdings (TUMI, $16.77, down $1.28), Tutor Perini (TPC, $10.79, down $0.57), TW Telecom (TWTC, $24.83, down $0.30), Tyson Foods (TSN, $15.12, up $0.11), United Fire (UFCS, $18.59, down $1.01), Vornado Realty Trust (VNO, $83.89, up $0.39), Walter Investment (WAC, $21.59, down $1.03), Warnaco (WRC, $40.84, down $1.82), Whitestone REIT (WSR, $13.36, down $0.29), Whiting USA Trust I (WHX, $9.41, up $0.10), WMS (WMS, $18.00, down $0.37), XPO Logistics (XPO, $12.48, down $0.24), Youku (YOKU, $16.42, down $0.59)

 

Tuesday

Access Midstream Partners (ACMP, $28.70, down $0.33), ADA-ES (ADES, $22.26, up $0.32), AECOM Technology (ACM, $15.81, down $0.39), AerCap (AER, $11.09, down $0.22), AeroCentury (ACY, $10.76, down $0.34), Air T (AIRT, $8.65, up $0.01), Allied Nevada Gold (ANV, $25.75, up $0.36), Alterra Capital (ALTE, $22.94, up $0.02), Amedisys (AMED, $11.54, up $0.10), Ameresco (AMRC, $11.60, down $0.25), AmeriGas (APU, $42.87, down $0.05), Apco Oil & Gas (APAGF, $17.27, up $0.43), Apollo Residential Mortgage (AMTG, $19.89, down $0.01), Arcos Dorados (ARCO, $12.88, down $0.27), Ares Capital (ARCC, $16.64, up $0.04), Artesian Resources (ARTNA, $21.36, up $0.08), Asta Funding (ASFI, $9.21, up $0.10), Astronics (ATRO, $30.85, up $1.05), Atlas Energy (ATLS, $31.17, down $0.43), Atlas Resource (ARP, $24.35, down $0.75), Avista (AVA, $27.26, down $0.02), Beacon Roofing (BECN, $24.09, Flat), Bio-Rad Laboratories (BIO, $93.65, down $3.15), Blackbaud (BLKB, $26.27, up $0.31), Blount (BLT, $13.67, down $0.11), Breitburn Energy (BBEP, $18.74, down $0.19), Bridgepoint Education (BPI, $9.48, up $0.13), Buckeye (BKI, $29.58, down $0.23), Cablevision (CVC, $14.95, down $0.39), Cadiz (CDZI, $9.22, down $0.72), Carrizo Oil (CRZO, $24.44, down $1.20), Carrols Restaurant (TAST, $5.37, up $0.03), Central (CEBK, $31.61, down $0.10), Charles River Laboratories (CRL, $33.94, down $0.13), Charter Communications (CHTR, $78.10, down $0.24), Cheniere Energy (LNG, $13.79, down $0.21), Cheniere Energy (CQP, $24.22, down $0.13), China Natural (CHNR, $5.30, up $0.07), Church & Dwight (CHD, $56.67, down $0.23), Coca-Cola Bottling (COKE, $65.79, down $0.19), Coeur d’Alene Mines (CDE, $16.20, up $0.36), Compass Diversified (CODI, $13.77, down $0.15), CPI Aerostructures (CVU, $10.93, up $0.43), Cree (CREE, $24.14, up $0.12), Crosstex Energy (XTXI, $13.24, down $0.32), Crosstex (XTEX, $16.69, Flat), CSG Systems (CSGS, $17.28, up $0.20), CTC Media (CTCM, $7.52, down $0.04), CUI Global (CUI, $6.97, up $0.15), CVS Caremark (CVS, $44.58, down $0.26), DCP Midstream (DPM, $43.86, down $0.23), DealerTrack (TRAK, $28.42, down $0.27), Delek US (DK, $19.93, up $0.22), Demand Media (DMD, $10.67, down $0.38), Demandware (DWRE, $22.20, down $1.13), Ebix (EBIX, $21.33, down $0.45), EMC Insurance (EMCI, $19.61, down $0.14), Emerson Electric (EMR, $46.95, down $0.55), Employers Holdings (EIG, $17.36, down $0.21), Endo Health Solutions (ENDP, $29.05, down $0.47), Energy Transfer (ETE, $41.54, down $0.65), Energy Transfer (ETP, $43.53, down $1.21), EnerNOC (ENOC, $6.36, up $0.16), Enphase Energy (ENPH, $5.78, up $0.14), Epocrates (EPOC, $7.11, down $0.19), Evolving (EVOL, $5.60, down $0.06), E. W. Scripps (SSP, $9.14, down $0.01), Expeditors International of Washington (EXPD, $35.19, down $0.05), Express Scripts Holding (ESRX, $56.17, down $0.93), Fidelity (FSBI, $20.82, down $0.04), FirstEnergy (FE, $49.45, down $0.69), Fluidigm (FLDM, $12.93, up $0.13), Fossil (FOSL, $66.52, down $2.55), Gaylord Entertainment (GET, $36.06, down $0.24), GeoEye (GEOY, $24.69, up $0.46), Global Cash Access Holdings (GCA, $6.40, up $0.07), Great Lakes Dredge & Dock (GLDD, $7.00, down $0.05), GSI (GSIG, $10.08, up $0.32), Gulfport Energy (GPOR, $19.92, down $0.60), Heartware (HTWR, $84.11, down $3.53), Higher One (ONE, $12.00, up $0.88), Horizon Technology Finance (HRZN, $16.34, down $0.16), Hospitality Properties Trust (HPT, $24.25, down $0.03), Infinity (INFI, $16.53, down $0.44), Infinity Property and Casualty (IPCC, $56.73, up $0.81), Neutral Tandem (IQNT, $13.53, up $0.06), Interval Leisure (IILG, $18.63, up $0.76), Jazz Pharmaceuticals (JAZZ, $47.11, down $0.23), Jive Software (JIVE, $18.06, down $1.14), Kenexa (KNXA, $22.79, down $0.08), Lexington Realty Trust (LXP, $8.87, down $0.01), Lifetime Brands (LCUT, $12.60, down $0.09), Live Nation Entertainment (LYV, $8.72, down $0.11), LTC (LTC, $35.52, up $0.33), Maiden Holdings (MHLD, $8.37, up $0.03), Manitex International (MNTX, $8.14, up $0.01), Marsh & McLennan Companies (MMC, $32.94, down $0.10), MAXIMUS (MMS, $49.60, down $0.42), Medivation (MDVN, $97.98, up $0.83), Medivation (MDVN, $97.98, up $0.83), MGE Energy (MGEE, $47.36, up $0.31), MGM Resorts (MGM, $9.00, down $0.42), MIPS Technologies (MIPS, $6.21, up $0.06), MRC Global (MRC, $22.35, down $0.08), Multi-Color (LABL, $18.83, up $0.04), MYR Group (MYRG, $15.94, down $0.02), National Research (NRCI, $48.66, down $1.08), Natural Gas Services (NGS, $14.24, up $0.04), Nature’s Sunshine (NATR, $14.99, up $0.12), New York Mortgage Trust (NYMT, $6.86, down $0.04), NewLink Genetics (NLNK, $11.27, down $0.10), Nexstar Broadcasting (NXST, $6.90, up $0.15), NGP Capital Resources (NGPC, $7.09, up $0.07), NII (NIHD, $6.94, down $0.14), Nordic American Tankers (NAT, $10.94, down $0.29), Oaktree Capital (OAK, $35.93, down $0.19), Omega Protein (OME, $7.96, down $0.13), OPNET (OPNT, $26.21, up $0.73), OraSure (OSUR, $10.27, down $0.15), Outdoor Channel Holdings (OUTD, $6.69, up $0.03), Oxford Resource (OXF, $9.54, up $0.01), Park-Ohio (PKOH, $17.16, up $0.07), PC Mall (MALL, $5.80, up $0.16), Pepco Holdings (POM, $19.69, down $0.24), Pericom Semiconductor (PSEM, $7.94, up $0.12), PG&E (PCG, $45.74, down $0.20), PHH (PHH, $15.54, down $0.28), Pioneer Energy (PES, $8.01, up $0.05), Portland General Electric (POR, $27.34, up $0.15), Powell Industries (POWL, $34.63, up $0.36), Prestige Brands (PBH, $15.38, down $0.30), priceline.com (PCLN, $649.01, up $6.03), Primerica (PRI, $26.93, up $0.34), Proofpoint (PFPT, $14.00, up $0.59), Protective Life (PL, $27.56, up $0.19), Rackspace (RAX, $42.90, down $0.30), Rand Logistics (RLOG, $7.98, down $0.04), RDA Microelectronics (RDA, $9.97, Flat), Red Lion Hotels (RLH, $6.80, down $0.13), Regency Energy (RGP, $22.36, down $0.67), Rex Energy (REXX, $12.47, down $0.35), Rigel Pharmaceuticals (RIGL, $10.32, down $0.04), RLJ Lodging Trust (RLJ, $17.05, down $0.02), Rockwell Medical (RMTI, $9.05, up $0.42), Roma Financial (ROMA, $8.82, up $0.02), Rosetta Resources (ROSE, $39.56, down $2.10), Sabine Royalty Trust (SBR, $52.20, down $0.97), Saga Communications (SGA, $33.75, Flat), Santarus (SNTS, $7.14, up $0.01), Sapient (SAPE, $9.66, down $0.05), Sarepta Therapeutics (SRPT, $8.75, down $0.43), SeaBright Holdings (SBX, $7.84, down $0.18), Select Medical (SEM, $11.62, up $0.17), Sotheby’s (BID, $28.33, down $0.33), South Jersey Industries (SJI, $51.70, down $0.45), Spectrum Brands (SPB, $35.79, up $0.02), Starwood Property Trust (STWD, $22.46, up $0.40), STEC (STEC, $7.82, up $0.11), Strattec Security (STRT, $23.31, down $0.06), Super Micro Computer (SMCI, $12.30, up $0.21), Sypris Solutions (SYPR, $5.82, up $0.10), Tecumseh Products (TECUA, $5.35, up $0.01), Thermon Group (THR, $21.52, up $0.72), Tornier (TRNX, $21.26, down $0.29), Tower International (TOWR, $7.91, down $0.23), TransDigm (TDG, $121.23, up $0.97), UGI (UGI, $30.62, down $0.26), Universal (UVV, $44.24, down $0.47), URS (URS, $34.34, down $0.37), Vaalco Energy (EGY, $7.08, down $0.26), Vitamin Shoppe (VSI, $55.95, up $0.82), VIVUS (VVUS, $20.76, up $0.80), Walt Disney (DIS, $48.98, up $0.16), Weingarten Realty (WRI, $27.51, up $0.36), Westar Energy (WR, $30.27, down $0.10), W. P. Carey (WPC, $47.00, up $0.18), Xenoport (XNPT, $7.44, down $0.30), XL (XL, $20.68, down $0.02), Zillow (Z, $36.34, down $0.18)

 

Wednesday

AAON (AAON, $18.17, up $0.39), Accretive Health (AH, $12.92, up $0.23), Achillion Pharmaceuticals (ACHN, $6.69, up $0.12), Achillion Pharmaceuticals (ACHN, $6.69, up $0.12), Acquity (AQ, $10.25, up $0.04), Advocat (AVCA, $6.47, down $0.08), Aegerion Pharmaceuticals (AEGR, $14.42, down $0.52), Affymax (AFFY, $15.69, down $0.02), Alere (ALR, $17.48, down $1.00), Alico (ALCO, $28.01, down $0.52), Allscripts Healthcare Solutions (MDRX, $9.10, down $0.08), Almost Family (AFAM, $21.01, down $0.35), Alon USA Energy (ALJ, $10.98, up $0.04), Alpha Natural Resources (ANR, $6.66, down $0.23), Amarin (AMRN, $11.54, up $0.01), American Public Education (APEI, $25.37, up $0.28), Apollo Investment (AINV, $7.67, up $0.03), Atmos Energy (ATO, $35.79, down $0.35), Avnet (AVT, $30.99, down $0.24), BioClinica (BIOC, $5.20, Flat), BioScrip (BIOS, $6.34, up $0.01), Boingo Wireless (WIFI, $9.09, up $0.19), Brightpoint (CELL, $8.95, Flat), Brookfield Infrastructure (BIP, $33.94, up $0.15), C&J Energy Services (CJES, $18.49, down $0.04), Calgon Carbon (CCC, $13.52, up $0.18), Cardiovascular (CSII, $8.85, down $0.08), Carlyle (CG, $23.87, down $0.15), CenturyLink (CTL, $41.67, down $0.45), Chesapeake Utilities (CPK, $45.46, up $0.06), China TransInfo (CTFO, $5.56, Flat), Clean Harbors (CLH, $59.22, down $0.10), CellaVision (CLVS, $13.55, down $2.16), CommonWealth (CWH, $18.42, Flat), Computer Sciences (CSC, $24.15, down $0.35), Consolidated (CGX, $23.46, down $0.24), Continental Resources (CLR, $62.58, down $2.21), Copa (CPA, $78.26, up $0.51), Copano (CPNO, $28.04, up $0.27), Core-Mark (CORE, $46.74, down $0.58), Coronado Biosciences (CNDO, $5.62, down $0.16), Corrections Corporation of America (CXW, $30.20, down $0.17), Cosan (CZZ, $12.76, up $0.01), Darling (DAR, $16.53, up $0.15), Daxor (DXR, $8.85, down $0.27), Dean Foods (DF, $11.94, down $0.19), Diodes (DIOD, $18.72, down $0.08), Dish Network (DISH, $29.75, down $0.81), Dun & Bradstreet (DNB, $73.11, down $1.27), EchoStar (SATS, $28.31, down $0.17), Energy (EXXI, $29.79, down $1.42), EnerSys (ENS, $33.03, up $0.23),  Envestnet, (ENV, $11.45, up $0.10), ePlus (PLUS, $31.00, down $1.44), Fiesta Restaurant (FRGI, $15.27, up $0.04), Fifth Street Finance (FSC, $10.20, up $0.13), FleetCor (FLT, $35.78, down $0.61), Flotek (FTK, $9.46, down $0.25), Food Technology (VIFL, $6.80, down $0.05), Forestar (FOR, $11.46, up $0.24), Fuel Systems (FSYS, $16.51, Flat), FushiCopperweld (FSIN, $8.88, up $0.03), Genomic Health (GHDX, $31.23, down $1.07), Global (GLP, $24.07, down $0.12), Great Plains Energy (GXP, $21.98, down $0.15), GSV Capital (GSVC, $9.78, up $0.42), Guaranty Federal Bancshares (GFED, $7.00, up $0.12), HollyFrontier (HFC, $37.24, up $0.09), Huntington Ingalls (HII, $38.17, down $0.48), Innospec (IOSP, $30.52, up $0.02), Insulet (PODD, $18.95, down $0.31), Integrys Energy (TEG, $60.20, down $0.29), Inter Parfums (IPAR, $16.54, up $0.05), International Flavors & Fragrances (IFF, $55.08, down $0.46), Interxion (INXN, $18.50, down $0.49), INTL FCStone (INTL, $18.40, up $0.09), Isramco (ISRL, $98.26, down $2.74), Jack in the Box (JACK, $26.63, down $0.02), Kelly Services (KELYA, $11.65, up $0.02), LB Foster (FSTR, $28.84, down $0.14), Lamar Advertising (LAMR, $29.86, down $0.07), LGL Group (LGL, $5.60, up $0.10), Liberty Interactive (LINTA, $18.74, down $0.12), Liberty Media (LMCA, $94.81, up $0.21), Ligand Pharmaceuticals (LGND, $18.77, down $0.36), Lions Gate (LGF, $12.82, down $0.27), LMI Aerospace (LMIA, $17.62, up $0.48), LSB Industries (LXU, $30.99, down $0.30), Macy’s (M, $36.40, up $1.34), Magnetek (MAG, $15.48, down $0.38), Maidenform Brands (MFB, $20.75, down $0.10), Mannatech (MTEX, $6.64, down $0.23), Mattersight (MATR, $7.58, up $0.02), Medicis Pharmaceutical (MRX, $33.06, down $0.16), Millennial Media (MM, $9.65, up $0.35), Molex (MOLX, $24.89, down $0.32), Monster Beverage (MNST, $64.14, down $0.72), Neenah Paper (NP, $25.66, down $0.47), Nektar Therapeutics (NKTR, $8.08, down $0.07), Nektar (NKTR, $8.08, down $0.07), Nelnet (NNI, $23.15, up $0.13), New Mountain Finance (NMFC, $14.35, down $0.10), News (NWSA, $23.14, up $0.13), Noah (NOAH, $5.06, up $0.04), NQ Mobile (NQ, $7.87, up $0.05), NRG Energy, (NRG, $19.09, down $0.66), Nuance Communications (NUAN, $20.97, up $0.49), NxstageMedical (NXTM, $14.29, down $0.71), Oiltanking Partners (OILT, $34.25, down $0.35), PAREXEL (PRXL, $27.26, up $0.14), Parkway (PKY, $10.99, up $0.20), PDF Solutions (PDFS, $8.81, down $0.09), Pegasystems (PEGA, $27.40, up $0.31), PennantPark (PNNT, $10.41, down $0.03), Perion Network (PERI, $5.03, down $0.03), PPL (PPL, $28.59, down $0.28), Primoris Services (PRIM, $12.48, up $0.16), Primus Telecommunications (PTGI, $15.96, up 0.19), Providence (PRSC, $12.25, down $0.06), Quad/Graphics (QUAD, $15.31, down $0.16), Ralcorp (RAH, $61.91, up $1.53), Ralph Lauren (RL, $140.12, down $2.21), RealNetworks (RNWK, $7.48, Flat), RGC Resources (RGCO, $18.04, down $0.27), Rosetta Stone (RST, $12.63, down $0.09), Salix (SLXP, $44.39, up $0.60), San Juan Basin Royalty Trust (SJT, $15.27, down $0.45), Sanchez Energy (SN, $16.43, down $0.30), Saratoga Resources (SARA, $5.90, down $0.02), SciClone Pharmaceuticals (SCLN, $5.38, up $0.19), Seattle Genetics (SGEN, $24.72, down $0.74), SemGroup (SEMG, $33.59, up $0.17), Silicon Graphics (SGI, $6.24, down $0.45), Skilled Healthcare (SKH, $5.44, up $0.14), SkyWest (SKYW, $6.31, down $0.24), SodaStream (SODA, $41.33, up $0.02), SouFun (SFUN, $11.63, down $0.20), Southwest Gas (SWX, $43.60, down $0.63), Spectrum Pharmaceuticals (SPPI, $13.40, down $0.35), Standard Parking (STAN, $20.87, down $0.15), Sterling Construction (STRL, $10.02, up $0.02), Stifel Financial (SF, $28.83, down $0.60), Stillwater Mining (SWC, $7.97, down $0.61), Susser (SUSS, $36.68, up $1.00), Symmetricom (SYMM, $6.00, up $0.03), Tangoe (TNGO, $19.51, down $0.26), Terreno Realty (TRNO, $14.67, down $0.15), TETRA Technologies (TTI, $6.45, down $0.30), Tidewater (TDW, $47.75, down $0.75), TransAct (TACT, $7.52, down $0.21), Treehouse Foods (THS, $53.49, down $0.53), Trius Therapeutics (TSRX, $5.29, down $0.09), US Home (USHS, $9.00, down $0.19), Universal Display (PANL, $31.58, up $0.82), Valhi (VHI, $11.05, up $0.09), Venoco (VQ, $8.73, down $0.27), Viasystems (VIAS, $15.45, up $0.16), Vishay Precision (VPG, $13.19, down $0.17), Vitacost.com (VITC, $5.98, down $0.27), Walker & Dunlop (WD, $12.15), down $0.01), XO (XOXO, $8.45, up $0.08), The York Water (YORW, $17.84, down $0.03)

 

Thursday

51job (JOBS, $34.30, down $0.03), 7 Days (SVN, $9.69, down $0.08), ACCO Brands (ACCO, $8.19, up $0.05), Acorn Energy (ACFN, $8.37, up $0.12), Advance Auto Parts (AAP, $67.14, down $0.92), Air Lease (AL, $19.48, down $0.01), Alliant Techsystems (ATK, $46.67, up $1.01), AMC Networks (AMCX, $43.29, up $0.49), American Pacific (APFC, $10.12, down $0.63), Ames (ATLO, $21.45, up $1.12), Anacor Pharmaceuticals (ANAC, $6.04, up $0.11), Applied Industrial (AIT, $37.70, up $1.14), Arena Pharmaceuticals (ARNA, $7.39, down $0.36), Assured Guaranty (AGO, $11.50, up $0.20), AuthenTec (AUTH, $8.40, up $0.10), Bally Technologies (BYI, $44.08, up $0.90), Belden (BDC, $34.19, up $2.33), BG Medicine (BGMD, $6.61, up $0.34), BioSpecifics (BSTC, $18.51, up $0.92), BofI (BOFI, $20.80, up $0.40), Bottomline (EPAY, $19.52, up $1.31), Briggs & Stratton (BGG, $17.24, up $0.44), Brinker (EAT, $33.15, up $0.79), Broadridge (BR, $20.91, up $0.50), Brooks (BRKS, $9.30, up $0.28), CareFusion (CFN, $24.12, up $0.11), CECO (CECE, $8.02, up $0.07), Cedar Fair (FUN, $31.49, up $0.50), Cedar Realty (CDR, $5.17, up $0.23), Chembio Diagnostics (CEMI, $5.15, up $0.05), China Biologic (CBPO, $10.26, down $0.33), China Lodging (HTHT, $11.54, up $0.10), Cogent Communications (CCOI, $18.71, up $0.49), Communications (JCS, $11.19, up $0.13), Consolidated Water (CWCO, $8.36, up $0.32), Cooper Tire & Rubber (CTB, $17.43, up $0.14), Cornerstone (CRTX, $7.40, up $0.30), Craft Brew Alliance (BREW, $8.72, up $0.10), CVD Equipment (CVV, $10.91, up $0.16), DeVry (DV, $18.35, down $0.31), Digital Generation (DGIT, $10.23, up $0.20), Dominion Resources Black Warrior Trust (DOM, $6.70, up $0.12), The Edelman Financial (EF, $8.68, up $0.04), Elizabeth (RDEN, $38.69, up $1.24), Emulex (ELX, $6.39, up $0.36), ESCO (ESE, $36.44, up $2.04), EV Energy (EVEP, $54.35, up $0.78), ExactTarget (ET, $21.52, down $0.21), Federal Agricultural Mortgage (AGM, $26.53, up $1.15), FirstCity Financial (FCFC, $8.90, up $0.05), Fusion-io (FIO, $19.49, up $1.30), FutureFuel (FF, $9.57, up $0.09), FX Energy (FXEN, $6.82, up $0.22), FXCM (FXCM, $10.80, up $0.35), Global Power Equipment (GLPW, $20.86, up $0.76), Hallador Energy (HNRG, $7.91, up $0.11), Hampden (HBNK, $12.70, down $0.05), Hardinge (HDNG, $9.29, up $0.21), Harvest Natural (HNR, $8.12, up $0.29), Hawaiian Telcom (HCOM, $17.99, up $0.39), Hillshire Brands (HSH, $25.43, up $0.97), Home Inns & Hotels Management (HMIN, $20.00, up $0.89), Houston Wire & Cable (HWCC, $10.81, down $0.09), Idenix Pharmaceuticals (IDIX, $8.15, up $0.09), Imperva (IMPV, $24.74, up $0.43), inContact (SAAS, $5.17, up $0.13), InnerWorkings (INWK, $11.92, up $0.16), Investment Technology (ITG, $8.19, up $0.34), Investors Title (ITIC, $51.79, down $0.24), Isramco (ISRL, $103.95, up $5.69), J. Alexander’s (JAX, $12.99, up $0.02), KCAP Financial (KCAP, $7.88, up $0.10), Kohl’s (KSS, $51.11, up $0.97), Koppers (KOP, $34.08, up $1.58), Kronos Worldwide (KRO, $17.89, up $0.61), Laredo Petroleum (LPI, $22.75, up $0.22), Lawson Products (LAWS, $9.90, up $0.50), LRR Energy (LRE, $16.69, up $0.81), Mac-Gray (TUC, $14.11, up $1.18), Markel (MKL, $427.60, up $5.70), Medical Properties Trust (MPW, $9.79, up $0.16), Medivation (MDVN, $99.04, up $1.06), Mexco Energy (MXC, $6.23, up $0.17), Michael Baker (BKR, $25.85, up $1.33), Mobile Mini (MINI, $14.32, up $0.76), Monmouth Real Estate Investment (MNR, $11.49, up $0.52), NASB Financial Inc. (NASB, $19.49, up $0.72), Nektar (NKTR, $8.21, up $0.13), New Jersey Resources (NJR, $45.63, up $0.48), Newcastle Investment (NCT, $7.52, up $0.13), Nordstrom (JWN, $54.35, up $1.04), Nortek (NTK, $51.74, up $0.06), Northern Oil and Gas (NOG, $15.37, up $0.15), Northern Tier Energy (NTI, $15.79, up $0.72), NVIDIA (NVDA, $13.72, up $0.28), Olympic Steel (ZEUS, $16.39, up $0.87), OM (OMG, $15.84, up $0.58), Omeros (OMER, $8.81, down $0.06), OSI Systems (OSIS, $65.16, up $1.35), Pacira Pharmaceuticals (PCRX, $15.42, up $0.25), Parametric Sound (PAMT, $10.79, up $0.24), PHI (PHII, $26.49, up $2.00), PICO (PICO, $24.24, up $0.25), QR Energy (QRE, $17.18, up $0.14), Red Robin Gourmet Burgers (RRGB, $29.62, up $0.76), Rentrak (RENT, $18.48, up $1.16), Rick’s Cabaret (RICK, $8.14, down $0.11), Roundy’s (RNDY, $9.71, up $0.01), Royal Gold (RGLD, $77.60, up $0.60), RRSat Global Communications (RRST, $5.53, up $0.05), Sagent Pharmaceuticals (SGNT, $18.17, down $0.04), The Scotts Miracle-Gro (SMG, $40.69, up $1.66), Semtech (SMTC, $24.54, up $0.91), Spreadtrum (SPRD, $18.99, up $0.53), SS&C (SSNC, $24.59, up $0.34), Stoneridge (SRI, $6.07, up $0.38), Summit Hotel (INN, $8.32, up $0.23), Severn Trent (STRN, $5.10, down $0.09), Synutra (SYUT, $5.64, up $0.03), Teekay (TK, $31.66, up $1.48), Teekay LNG (TGP, $39.47, down $0.22), Teekay Offshore (TOO, $28.26, up $0.26), US Physical Therapy (USPH, $25.93, up $0.28), Ubiquiti Networks (UBNT, $12.41, up $0.20), UMH (UMH, $11.82, up $0.45), U.S. Concrete (USCR, $6.00, up $0.34), ViroPharma (VPHM, $19.87, up $0.01), WageWorks (WAGE, $14.64, up $0.57), Walter Investment (WAC, $22.90, up $0.72), White Mountains Insurance (WTM, $510.80, down $2.19), Willis Lease (WLFC, $12.75, up $0.37), Windstream (WIN, $10.04, up $0.07), Zhongpin (HOGS, $10.43, up $0.11)

 

Friday

AmREIT (AMRE, $14.02, down $0.01), Berkshire (BERK, $8.25, up $0.36), BP Prudhoe Bay Royalty Trust (BPT, $116.47, up $0.28), Chesapeake Granite Wash Trust (CHKR, $22.00, up $0.30), China Yuchai (CYD, $13.15, up $0.26), CompX (CIX, $12.40, up $0.20), Energy Transfer (ETE, $42.20, up $0.66), Harbinger (HRG, $9.49, up $0.92), Harman (HAR, $40.35, up $1.25), Heska (HSKA, $10.04, up $0.11), hiSoft Technology (HSFT, $10.93, up $0.14), Horizon Pharma (HZNP, $5.16, up $0.08), The Howard Hughes (HHC, $63.37, up $1.19), J. C. Penney (JCP, $20.90, up $0.44), Kearny (KRNY, $9.90, up $0.38), MedCath (MDTH, $7.70, down $0.09), Merrimack Pharmaceuticals (MACK, $7.71, up $0.03), New England Realty (NEN, $27.80, up $1.25), Presidential Life (PLFE, $13.92, up $0.05), Rentech Nitrogen (RNF, $30.10, up $0.95), SandRidge Mississippian Trust I (SDT, $28.20, up $0.19), Sandridge Mississippian Trust II (SDR, $20.51, up $0.04), SandRidge Permian Trust (PER, $20.71, up $0.34), Simcere Pharmaceutical (SCR, $7.93, up $0.05), Unico American (UNAM, $10.15, down $0.54), United-Guardian (UG, $17.00, up $0.22), VirnetX (VHC, $26.42, up $1.93), Warwick Valley Telephone (WWVY, $13.80, up $0.11)

 

= = = = = = = = = = = = = = = 

 

5.  Weekly Wrap Covered Call Portfolio Update (Closing prices as of 8/3/12)

Closed Trades for 2012 (22-0, overall):  ARNA +117%, SZYM +11%, BAC +26%, EFTC +8%, SZYM +55%, VVUS +38%, CALL +19%, BAC +20%, SYMC +16%, DAR +20%,TIVO +5%, MGM +22%, ZNGA+13%, SGMS +6%, VVUS +17%, F +8%, AA +7%, CLNE +27%, DNDN +18%, MGM +19%, ACAS +3%, P +9%.

 

 

Vivus (VVUS, $20.92, up $0.16)

August 24 calls (VVUS120818C00024000, $0.30, down $0.10) 

Original Entry Price:  $22.70 (7/27/12)

Lowered Price from Selling Options:  $21.75

Exit Target:  $30+

Return:  -4%

Stop Target:  $15

Action:  We were hoping $22 held last week but we mentioned there was risk down to $20.  Shares tested a low of $19.75 on Thursday which is right at the next wave of support.  The 200-day MA will be crucial in holding if there is further weakness which could open the door for a test to $12. 

We didn’t recommend Vivus because Qnexa won approval as an obesity drug.  The beauty about the drug, also called Qsymia, is that it is also in Phase 2 trials for diabetes and as a sleep apnea drug.

The company also has a strong pipeline which includes its good-wood drug, Stendra, which won approval earlier this year for erectile dysfunction.  This market continues to grow and even if Vivus gets a little bit of the pie, it’s revenue. 

We recommended buying the stock at $22.70 on 7/27/2012 and for every 100 shares to sell the August 24 calls for 95 cents.  This lowered the cost basis to $21.75.

If we are called away in mid-August at $24 the trade will make 10%.

 

Antares Pharma (ATRS, $4.63, up $0.12)

August 5 calls (ATRS120818C00005000, $0.15, flat) 

Original Entry Price:  $4.94 (7/13/12)

Lowered Price from Selling Options:  $4.24

Exit Target:  $8+

Return:  9%

Stop Target:  None

Action:  Shares fell nearly 10% on Wednesday and traded to a low of $4.16 on Thursday.  The breech of near-term support at $4.50 led to the test of $4.  There is further risk down to $3.75 and a move below $3.50 would be bearish.  We have a longer-term price target of $10 and would like to see a move back above $5 this week.

We recommended buying the stock at $4.94 on 7/13/2012 and for every 100 shares to sell the August 5 calls for 70 cents.  This lowered the cost basis to $4.24.

If we are called away in mid-August at $5 the trade will make 18%.

 

Antares Pharma (ATRS, $4.63, up $0.12)

February (2013) 7.50 calls (ATRS130216C0007500, $0.50, flat)

Original Entry Price:  $0.80 (7/13/12)

Exit Target:  $1.60

Return:  -38%

Stop Target:  None

Action:  This is a LEAP option which expires in in mid-February 2013 so we have plenty of time to wait for shares to double.  The calls will be worth at least $2.50 if shares reach $10.  We may have to wait it out until mid-February but this would give us a 213% return.       

Bank of America (BAC, $7.43, up $0.25)

August 9 calls (BAC120818C00009000, $0.01, flat)

Original Entry Price:  $8.93 (4/17/12)

Lowered Price from Selling Options and Dividends:  $8.24  

Exit Target:  $15+

Return:  -10%

Stop Target:  None

Action:  Shares held $7 all week and traded up to $7.40 on Friday.  Resistance is at $7.75 and a break above $8 and the 100-day MA would be bullish.  If $7 comes back into play, there is further weakness down to $6.75.  If this level fails to hold, shares could test $6 which is where we would add to the position.      

We recommended buying the stock at $8.93 on 4/17/2012 and for every 100 shares to sell the May 9 calls for 45 cents.  This lowered the cost basis to $8.48.

On 5/30/12 the company paid a 1 cent quarterly dividend which lowered our cost basis to $8.47.

On 6/19/12 we sold the August 9 calls for 23 cents to lower our cost basis to $8.24.  If shares are called away in mid-August at $9 the trade will make 9%.

 

Scientific Games (SGMS, $8.59, up $0.64)   

Original Entry Price:  $11.10 (3/20/12)

Lowered Price from Selling Options:  Waiting for shares to reach $10-$11

Exit Target:  $15+

Return:  -23%

Stop Target:  None

Action:  Shares fell to a low of $7.88 on Thursday but gained 8% on Friday.  We said last week a close below $8 would be bearish and that we got.  There is a chance shares test $7.50 on further weakness and earnings are on Monday.  The company has missed expectations the past 2 quarters.  If there is a surprise and earnings come in better-than- expected, a move past $9 is possible and where we are looking to possibility write a call option. 

We recommended buying the stock at $11.10 on 3/20/2012.

 

OCZ Technology Group (OCZ, $5.71, up $0.06)

August 10 calls (OCZ120818C00010000, $0.15, flat)

Original Entry Price:  $9.60 (2/7/12)

Lowered Price from Selling Options:  $8.95

Exit Target:  $11

Return:  -36%

Stop Target:  None

Action:  The buyout rumors quickly died down but we still like this stock for the long haul.  Support has been strong at $4.50 while the downside resistance line is showing a break above $8 would be bullish.   

We recommended buying the stock at $9.60 on 2/7/12.

On 7/30/2102 we recommended selling the August 10 calls for 65 cents which lowered the cost basis to $8.95.

If we are called away in mid-August at $10 the trade will make 12%.

 

MGM Resorts (MGM, $9.26, up $0.26)

Original Entry Price:  $13.77 (2/2/12)

Lowered Price from Selling Options:  $12.67

Exit Target:  $15

Return:  -27%

Stop Target:  None

Action:  Shares traded to a low of $8.83 and closed at $9 before Friday’s rebound.  There is further risk down to $7.50 if it was a dead cat bounce.  The company will announce earnings on Tuesday and we have warned the casino industry is struggling right now.  While we aren’t expecting a great quarter, a beat on earnings and revenue could get shares near $10 again.

We recommended buying the stock at $13.77 on 2/2/2012 and for every 100 shares to sell the March 15 calls for 45 cents.  This lowered the cost basis to $13.32.

On 3/20/12 we recommended selling the April 14 calls for $0.65 which lowered the cost basis to $12.67.

 

Alcoa (AA, $8.37, up $0.19)

August 9 calls (AA120818C00009000, $0.03, up $0.01)

Original Entry Price:  $9.65 (1/12/12)

Lowered Price from Selling Options and Dividends:  $8.73

Exit Target:  $11

Return:  -4%

Stop Target:  None

Action:  Alcoa paid a 3 cent quarterly dividend which lowed our cost basis to $8.73.  We have two weeks to see if shares can make a move past $9 which is where we will get called away but $8.50 has been strong resistance.  If there is a pullback at resistance, $7.50 could come into play.

We recommended buying the stock at $9.65 on 1/12/12.

On 1/23/12 we recommended selling the March 11 calls for $0.25 which lowered the cost basis to $9.40.

On 2/1/12 the company paid a 3 cent dividend which lowered our cost basis to $9.37.

On 3/20/12 we recommended selling the April 11 calls for $0.20 which lowered the cost basis to $9.17.

On 5/10/12 the company paid a 3 cent quarterly dividend which lowered our cost basis to $9.14.

On 6/19/12 we sold the August 9 calls for 38 cents to lower our cost basis to $8.76.  If shares are called away in mid-August at $9 the trade will make 3%.

On 8/1/12 the company paid a 3 cent dividend which lowered our cost basis to $8.73.

If we are called away in mid-August at $9 the trade will make 3%.

 

Newpark Resources (NR, $6.81, up $0.21)

Original Entry Price:  $9.45 (7/27/11)

Lowered Price from Selling Options:  $7.85

Exit Target:  $11

Return:  -13%

Stop Target:  None

Action:  Shares touched $6.57 on Thursday which is right at the 100-day MA.  We would like to see Newpark clear the 200-day MA over the next few weeks which is when we will look to sell another call option.

We recommended buying the stock at $9.45 on 7/27/2011 and for every 100 shares to sell the August 10 calls for 50 cents.  This lowered the cost basis to $8.95.

On 9/15/2011 we recommended selling the December 10 calls for $0.85 which lowered the cost basis to $8.10.

On 1/25/2012 we recommended selling the March 12.50 calls for $0.25 which lowered the cost basis to $7.85.

 

Trades on HOLD:  DryShips (DRYS, $2.21, up $0.08), AKS Steel Holding (AKS, $4.91, down $0.03), Rare Element Resources (REE, $3.90, down $0.05), Rambus (RMBS, $4.21, up $0.09), Patriot Coal (PCXCQ, $0.15, up $0.03), Pizza Inn (PZZI, $2.35, down $0.03), Bebe Stores (BEBE, $6.05, up $0.23)

 

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6.  Week Ahead

There are no major economic reports scheduled for Monday.

Tuesday is a light day with Consumer Credit for June due out an hour before the closing bell (3pm EST).  This report can be volatile and could move the markt if it disappoints. 

Wednesday picks up as the Mortgage Index starts things off at 7am.  Preliminary Productivity and Unit Labor Costs numbers are due out at 8:30am.  Crude Inventories will be released at 10:30am.

Initial and Continuing Claims will grab Thursday’s headlines at 8:30am along with the latest Trade Balance figures.  Wholesale Inventories will hit the Street at 10am.

Friday is rather quiet with Import/ Export Prices due out at 8:30 am while the Treasury Budget will be released at 2pm.