In This Edition.... Despite today's pullback - not to mention our generally bearish short-term stance - we're not going jump to any conclusions about what's in store for stocks in the near future. The fact is, today's dip isn't even really threatening last week's gains yet, nor are any major support levels under fire. Instead, we'll save those thoughts for the middle of this week after we've collected a little more data.  For today, we'll simply post a couple of new trading ideas (one bearish and one bullish), and update a few existing trades.    New Trades As we've been doing for the last few weeks, we're going to pair a short (bearish) trade with a long (bullish) trade, respectful of the market's possibly-turning tide. We know we'll have the wind at our back for at least one of the positions, yet both of them have the potential to move in a profitable direction for us. International Royalty Corp. (ROY) - Bearish The month of May was a fantastic ride for owners of International Royalty shares; the stock gained 53% during that time. Unfortunately, the move was a little bit too big, in too short a period of time. Having been overbought for a few days, the cracks are finally starting to leak water. ROY is now under a couple of support levels around $3.33, and it looks like there's enough profit-taking interest to keep pushing this stock lower. It could be a case of 'buy the rumor, sell the news', as shares peaked and started to tumble just a few days before the company announced the Las Cruces, Spain project had finally found copper.  Acura Pharmaceuticals, Inc. (ACUR) - Bullish We've actually been following Acura Pharmaceuticals since May 8th. The fundamentals looked a little iffy, but the company's history and development projects (mainly aversion technology) looked promising. The technicals, however, weren't quite as compelling at the time.  As it turns out, ACUR shares moved higher after our last look, right up to a resistance level at $7.70. And, they pulled back to what's now clearly become a rising support line. In other words, a decisive wedge shape has been made. The lower line of the wedge was the springboard for today's big move, which may well be the catalyst needed to break through that ceiling/resistance line once and for all. It's a tad pre-emptive to jump on board now, but we've already seen new multi-week highs today, and stronger buying volume over the last two weeks. It looks like the market really wants to force a breakout here, so the risk/reward ratio is favorable for the bulls.   Raise or Lower Stops On... We don't have as many suggestions as we did last time, having pared several of our trades so we could focus on our more productive ones. However, we do have a handful of things we need to take care of in the way of lowering or raising stops. Bank of the Ozarks Inc. (OZRK) We shorted OZRK last week at a price of $23.36. Since then, we've watched shares sink under minor support, and move on to the current price of $21.85. That's about a 6% profit cushion, which isn't a lot, but is at least enough to start thinking defensively. Let's just draw a line in the sand around break-even levels for the time being. Quick reminder... we're only looking for a move to support around $18.00 or $19.00. Global Crossing Ltd. (GLBC)  It was only last week we raised our stop on the Global Crossing long trade, but more big gains since then merit an update. The last time we looked (on the 2nd), GLBC shares were around $8.90, meaning we were up about 10%. Now Global Crossing's at $9.60 thanks to the 8% pop in the meantime. So, we're ahead by about 20%. Let's go ahead and scoot the stop up a bit. MGMT Energy Inc. (MGEG) This one goes back to May 4th, with an entry price of $3.91. We haven't talked much about it since then because, frankly, there wasn't much to talk about with this docile chart. However, 'slow and steady' can indeed win the race. As of right now, MGEG is trading at $4.33, up 10% from where we wandered in. That's enough of a cushion to place a defensive stop loss to protect most of the unrealized profits so far.  That's it for now as far as 'official' trades go, but keep reading - there's another item to take care of, at least for some of you.   If You Were Lucky Enough.... If you're a thorough reader of everything we write, then the name Syndication Inc. (SYNJ) may ring a bell. I mentioned it as a breakout candidate in a community article last Thursday. And, break out it did - it's up 385% since then.  If you happened to be in a trade or get in a trade based on my comments, then I equally suggest you now take your 385% profit and run. Why bail? For the same reason I don't make pink sheet stocks 'official trade' stocks to begin with ....they're frequently worthless, and often only supported by hype. The thing is, you never really know if that's the case until after the fact. In that light, I don't know if SYNJ is the real deal or not, and frankly I don't care - it was strictly a volatility play designed to take advantage of the short-term stampede being cultivated by relatively hollow news. It's absolutely not (yet) the kind of stock you'd want to be in for the long haul... or even for a short period of time.  Chalk it up as one of those one-in-a-thousand cases where everything falls into place for a couple of days. I don't see any longevity to this strength though. Just an FYI, I doubt I'll ever officially trade or even suggest a pink sheet equity, but I do suspect I'll mention the few that look interesting within my comments in the community pages.    As the Smartphones Turn...PALM, S, AAPL, INTC, WIND Intermix  Not nearly the media event that Apple's (NASDAQ: AAPL) iPhone release became, Palm's (NASDAQ: PALM) Pre hit store shelves this weekend with estimated sales between 45,000 and 55,000. That leaves 10,000 to 15,000 people on the waiting list.  The new high-end phone, considered a pivotal product for both Palm and Sprint Nextel (NYSE: S), has received rave reviews. Like AT&T (NYSE: ATT) is for the iPhone, Sprint is the sole provider of service for the Pre.  When Palm unveiled the device six months ago, its stock tripled but in early trading today it was down 10%. The Pre is key financially for Palm, which has been reporting net losses for the last several quarters and wallowing in negative cash flow.  The company sees the Pre as the "coming-out party for the new Sprint."  Another company keeping close eye on Palm's Pre is Intel Corp. (NASDAQ: INTC), who plans to acquire Wind River Systems (NASDAQ: WIND) for $884 million.  It all stems from the sudden smart phone mania predicted to be in full swing this summer. There's last weekend's rollout of the Pre, a possible iPhone upgrade from Apple, Google Inc.'s (NASDAQ: GOOG) G2 Android platform appearing and the re-emergence of Motorola Inc., as a player.  While it's clear that Apple will set the standard for the next year or two, there's a battle going on for second place in smart phone space. Right now, the iPhone is using an ARM processor, leaving Intel in the dark...until now.  Read the rest at our community pages.        Small Cap Stocks BOBE, EAT, PZZA and CMG Stage a Rally Restaurants got hammered during the recession; every one of every size. Mom and Pop's, chains, Small Caps, Mid- and Big Caps, and the masses stayed in and ate comfort foods like stews, breads and potatoes. If you look at the four individual company charts that follow, you'll see two things immediately: first, December was a killer and second, they've all dramatically risen since those dark days of winter. McDonald's Corp. (MCD) said today its same-store sales climbed 5.1 percent in May, boosted by strong international sales. MDC said U.S. same-store sales climbed 2.8 percent, helped by classic menu items and its new McCafe espresso-based coffees. In May 2008, Company's same-store sales rose 4.3 percent in the U.S., aided by the launch of the company's Southern Style Chicken Sandwich. The National Restaurant News Restaurant Index, an index of 61 publicly traded restaurant stocks across all categories, is now up 20% since its low on March 6, 2009. Although the performance of the overall index lagged the S&P 500, which is up 33% during the same period, casual-dining stocks generally outperformed the market during the last few weeks because of increasing consumer confidence and improving traffic trends. Read the rest at our community pages.