Trade Updates: Procera Networks, Hansen Natural, Briggs & Stratton Not that there's nothing else to talk about (like swine flu, GDP, depleted inventories, etc.), but while we're able to carve out the time today, I need to update you on - and cancel - some of the trade suggestions we've issued lately.  Now, I don't have the room to review all ten trades we've got posted on the website, so I'll skip the 'speculative buys' for now and come back to them later. Today we're going to just look at the open 'technical trade alerts' (which are short-term ideas), and the 'buys' (which are longer-term, investment ideas).  Note that we're canceling one of our buy ratings, as well as pulling the plug on one of our technical trade alerts.    Still On the Board Our newest recommendation, Procera Networks Inc. (PKT), is technically considered a speculative buy, but since it's still a fairly new trade for us I think it's worth an update here.  Our PKT entry at $0.65 couldn't have come at a better time; the stock rallied up to $0.92 the next day, and as high as $1.02 within a week. Since then Procera shares have settled down around $0.92, and seem to be consolidating... perhaps a wind-up for the next jump. What prompted the push after our alert went out? We don't think it was entirely news-based, as there was no news that perfectly coincided with our recommendation. We just feel the word is finally getting out. Nevertheless, the announcement from the 22nd that one of the Ivy League schools was using Procera's technology certainly didn't hurt the stock.  We still contend as far as PKT is concerned, you ain't seen nuthin' yet. There have been a couple of times since early February we considered dropping Hansen Natural Corp. (HANS), frustrated with its lack of traction. Good thing we didn't. HANS finally moved in a big way late last week, from $37.15 to $39.48 last Thursday, and then up to $41.20 today. All told, we're now up about 17.5% since our February 6th entry. That's not "buy a Ferrari" kind of money, but it's not bad considering the market's basically flat since then.  Why the sudden strength? Great question.  The only attention Hansen was getting around the time of the breakout was some positive comments from The Motley Fool (perhaps a reason to worry, considering fool.com's uncanny ability to be late to a party). Even then though, it's not like The Motley Fool could have pushed the stock higher like they did.  No, we think the HANS pop is 100% organic, which is even better. Edwards Lifesciences Corp. (EW) also finally got traction after a long, long wait. Shares bolted from $57.77 on Monday to a close of $64.62 on Tuesday after the company reported a triple in Q1 profit, and raised their full-year guidance.  EW has retreated to the lower $64 area today, but appears to be holding into the gain pretty well. We're up about 13.6% since our January 16th entry at $56.50. Like our Hansen Natural gain, that's not a gangbuster performance, but it easily tops the market's return for the same period.  We stuck with Agilent Technologies Inc. (A) through a very tough February, and our patience has been relatively rewarded - the stock is almost back to where we started with it in mid-January.  Normally we wouldn't adopt a "it will come back" mentality, as those are famous last words for too many traders. In Agilent's case though, it was clear the market's demise was the main cause for Agilent's pullback, and we were pretty confident the market was poised to rebound. When it did, so too did Agilent shares. We're still not sure if we're going to keep Agilent, but we've got it on the board until further notice If you thought Agilent was an innocent victim of the broad market selloff, it's even worse for the iShares S&P Preferred Stock Index Fund (PFF).... it's the same story, on steroids. PFF got rocked between late January and early March, sliding from a peak of $27.44 to a trough of $14.10 (-48.6%). Why? The market was sure all the preferred stocks held inside the ETF were going to be destroyed - one way or another - by the government's bailout conditions. Man it's a good thing we didn't buy into that hype. The iShares S&P Preferred Stock Index Fund has almost reclaimed all of that ground, moving to mid-$26 area today. We're back in the black a little as well, and expect the uptrend to continue.  So those are the suggested trades we're keeping alive, but what about the two we're axing?   Pulling the Plug We had high hopes for Briggs & Stratton Corp. (BGG) back in January. But, earning 51 cents per share last quarter when the market was expecting 64 cents just isn't going to cut it. The company's a contradiction in itself to boot. The same day it said it expected 2009 profits to be flat or slightly higher was the same day quarterly earnings came up short.... and the same day they cut the dividend in half. The math doesn't quite work based on their current results, and we don't want to be around if last quarter's contradiction becomes an epidemic. Molina Healthcare Inc. (MOH) is the other trade we're yanking. It's not been bad, but it's not been good either - just flat. Considering it was a short-term trade and the intended holding period has already passed, we just want to take this one off the table and focus on more productive ideas. That's it for trade updates today, though clearing the decks now means we've freed up some time and room for new ideas in the near future. Stay tuned. If you want some trading ideas in the meantime, our community pages are chock full of 'em. If you've not seen them yet, you should really check them out.  We've got them broken down into the three categories below. Just click on the link to go there. Latest Small Cap Stock Analysis  Latest Penny Stock Analysis  Stocks In Focus  By the way, this is just the beginning of the community portion of our site. We've got some really exciting things in store for you in the near future.