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Good afternoon all. We just wanted to clarify something stated in this morning's look at Giggles N Hugs (GIGL). Though it appears everyone understood it was a typo, in the interest of clarity and fairness, Giggles N Hugs did not drive $822 million in sales last quarter. It generated $0.822 million in sales for Q1, or $822,000.

As was said, the few who even noticed it appear to have understood this, particularly in the context of the discussion surrounding the number. Specifically, we noted the organization is currently operating three stores, and the expected annual revenue for a developed unit was $1.5 million. It was further explained how 25 stores would generate approximately $40 million in annual sales, so the error would have been noticed immediately. Again though, we want to make sure there's not even an opportunity for confusion to develop.

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Hello, folks. We're going to be short and sweet today, for a couple of reasons. One of those reasons is, the market's still stuck between a rock and a hard place, and there's not much new perspective to add until the market finally wiggles its way out of this rut. The second reason today's edition is going to be shorter than usual is, we've come across a trading idea I think you're really going to like, and I want to get back to our due diligence of this stock so we can have a special alert ready to go for you tomorrow morning.

Yes, you read that right - we're going to be naming a new trading idea tomorrow morning in an e-mail going out before the open.

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We hope everyone had a great weekend. Either way, Mr. Market made it easy to hit the ground running this week with a fairly bullish day. We still say the rally's running on fumes, but until the majority of traders out there see more risk than reward, the bulls are going to continue to march forward. I don't "like it", but the best trading advice I ever got was to respond to what the market is doing rather than respond to what I think it should be doing. This is why we're willing to add some new names to the bullish watchlist - this crazy market may well let stocks rally for a few more weeks.

New Names Worth a Look

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Well folks, there it is - the proverbial shot heard 'round the world's financial markets. Despite some pundits trying to dismiss the early plunge (sparked by the Portugal turmoil, by the way) as a temporary result of overblown fears, I can't say we agree it's "just a little volatility." We've got a feeling the market showed us just how vulnerable it is today, and now that the bears know there's a weak spot in the armor, they're likely to exploit it.

Now, those of you who follow our stuff closely you may have noticed even though both the S&P 500 and the NASDAQ spent some time beneath their 20-day moving average lines today, neither of them closed below that key level. While I'd never say never when it comes to the stock market, I don't think it matters at this point. The egg was good and cracked with this morning's plunge, and you just can't uncrack an egg. While we might get a modest bullish ebb stemming from today's partial bounceback, the damage is done. From here it's all about the timing of any entry. With all of that being said...

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Happy hump-day, fellow traders. How was your Wednesday? If you're not entirely sure what to make of Wednesday's market action, don't worry - you're not alone. Monday's and Tuesday's implosion certainly planted a few seeds of doubt about the market's near-term health, yet stocks were just strong enough today get some people thinking "hey, there may be a little more life left in this rally after all."

It's not like we haven't seen this kind of duality before. I tell you what though... I've been a market professional (one way or another) for nearly a couple of decades now, and the severity of the emotional tug-of-war we're seeing now is very, very unusual. The end result of all this odd stuff is not only a market that doesn't make sense, but a market that's tough to navigate.