In This Edition... New Trading Ideas: ICOC and TK  Trade Updates  New Trading Ideas The bulls are still working hard to nip a downturn in the bud; it remains to be seen whether they'll be successful or not. In the meantime, our strategy of splitting our trades up evenly between short and long picks continues to work well. So, we've got one of each for you today. ICO Inc. (ICOC) - Bearish ICOC shares were up a little today, but it's the first gain we've seen since early last week, and it was a low volume gain at that. The downtrend that began in early June still appears to be intact.  In fact, if you take an extreme zoomed-out look (which we did), you'll see how the peak hit in early June is also in line with a long-term, falling resistance line. Based on the chart's action following encounters with that line suggests a significant pullback may have been started.  Just an FYI, it's not that ICO Inc. is a terrible company, nor is it that they took losses in recent quarters... almost every company took losses. It's just that ICO has developed the bad habit of coming up short of analyst's earnings estimates. Doing so can really plague your stock, even in between quarterly reports.  Teekay Corp. (TK) - Bullish  This shipping stock finally broke out of its slump in early June, though perhaps a little too quickly. The bounce from $14 to above $23 in less than two weeks may have been a little too much, too fast. Sure enough, TK was back to the $19 area a week later.  Now that the stock has settled down, we can see the potential buyers are still interested; sellers were limited in number at the top as well as on the way down. How can we see this? Volume, and the fact that the stock found support at the 20 day average line a few days ago and has started to move higher again.  With some major hurdles now out of the way on the chart, we're looking for the upside to continue.    Trade Updates We don't have a lot to tweak with our open trades... just a couple of things to take care of.  Let's change the stops on....  Bank of the Ozarks, Inc. (OZRK)  This short/bearish trade got off to a great start, sinking from $23.36 to a low of $19.70 right out of the gate. Over the past few days, however, OZRK has drifted back up to just over $21.00. We suspect the recent lift is temporary, as the buying volume behind it has been pathetic. On the other hand, there's no reason to take chances when we have some profit to protect.  I'll let you decide where to move your stop - I'll just suggest somewhere under the entry level of $23.36. Don't make it too tight though... we want to give it a little wiggle room to re-find its bearish direction. Harvard Bioscience Inc. (HBIO)  Our long trade on HBIO is still profitable (about 7%), and it's been pushing upward over the last three days following a rough end to last week. So, I'm optimistic that the bigger uptrend is still intact. On the other hand, it looks like Harvard Bioscience is struggling to move back above its 20 day moving average line. Could it be resistance? I want to hang onto it for the bullish reasons given above. On the flipside, I don't want to take chances now that we've seen its vulnerability. I suggest setting a stop at this week's low of $3.35. That will leave some profit behind for us if a headwind is hit, but also gives us a chance to reap a bigger reward if the stock continues to recover. MGMT Energy, Inc. (MGEG)  For the longest time keeping tabs on this penny stock was like watching paint dry. It had been stuck at $4.35 since June 8th following our entry in May at $3.91. Today it all changed, with a big leap to $4.75 and close at $4.55. We're now up about 16%... enough to worry about protecting. Let's scoot the stock up to, say $4.00? That should leave enough room for volatility. (It's also where we found support during the days right before this big pop.) As for the reason the stock moved today, there's not one - at least not from the company itself. We haven't seen or heard from MGMT in a long time. And, let's make exits on... Sunrise Solar Corp. (SSLR)  After this thing started trading again on the 19th (much lower than where it left off on the 4th), I gave it the benefit of the doubt. The stigma of scandal has just been too much to overcome though. Let's dump SSLR and move on to better things. Points International Ltd. (PTSEF)  We're simply seeing the selloffs come too easily here, while the rebounds are a total struggle. I'm tired of fighting the trend. Let's just go ahead and get this one off our plate at what's close to a break-even.    Homebuilders LEN, MTH, RYL Grab Bear By The Horns It's an unlikely sector to lead the market in early, mid- or late trading, but homebuilder stocks took the bear by the horns today.  The fact that the Fed kept interest rates near zero on Wednesday, saying that the pace of the recession is slowing, gave homebuilders optimism that a bottom may be closer than originally thought.  Another government report showed the first-quarter gross domestic product growth shrank at a slower pace than initially thought. GDP shrank at an annual rate of 5.5% versus the initially reported 5.7% decline.  Hey, even not as bad as expected news is better than the alternative.  For example, Homebuilder Lennar Corp. (AMEX: LEN) reported a larger-than-expected quarterly loss and a smaller-than-expected drop in revenue. Shares rallied 16%.  In fact, in Indio, a small city east of Los Angeles, the supply of foreclosed houses for sale is plentiful. Even so, work crews are finishing a batch of new homes for Lennar Corp.  Read the rest at our community pages.       NPWS Jumps Over 220% Today and MCZ Sets Record Quarterly and Fiscal Numbers, Pharma Spherix (SPEX) Quadruples Volume on Phase II Trial News Entertainment accessory provider Mad Catz (MCZ) http://www.madcatz.com/ trading on the AMEX in the $0.29 range on an average 3-Month daily trading volume of 306,334 shares with a market cap of $15.98 million released 2009 quarterly and fiscal year end numbers and shares leaped at the open of trading. The good news... MCZ posted a fiscal 2009 net sales rise of 28.3% (a record) or $112.6 million and a fourth quarter net sales rise of 3.9% (a record) or $22.8 million. Gross profit for the fiscal year increased 10.8% to $32.0 million from $28.9 million in the prior fiscal year. The bad news... Reflecting a $27.9 million pre-tax non-cash goodwill impairment charge, as well as a tax expense of $4.0 million in the fiscal fourth quarter for a valuation allowance relating to the deferred tax asset at the Company's US subsidiary, MCZ incurred a net loss for the year ended March 31, 2009 of $32.6 million, or a loss of $0.59 per diluted share. The solution; get rid of all the obstacles and clean up the books; which they've hopefully done this time around.  Read the rest at our community pages.