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TiVo (NASDAQ: TIVO - option chain) stock is falling today after the U.S. Court of Appeals granted the request of EchoStar (NASDAQ: SATS) to stay the contempt order imposed by the U.S. District Court pending the outcome of SATS's appeal. TIVO says it is confident that it will win the appeal.. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on TIVO.

This morning, TIVO opened at $9.13. So far today the stock has hit a low of $9.05 and a high of $9.79. As of 11:45, TIVO is trading at $9.22, down $1.55 (-14.4%). The chart for TIVO looks neutral and S&P gives TIVO a neutral 3 STARS (out of 5) hold ranking.

Constellation Brands (NYSE: STZ - option chain) shares are trading higher today after the company posted a first-quarter profit of 33 cents per share, topping analysts' forecasts of 32 cents per share. If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on STZ.

STZ opened this morning at $13.18. So far today the stock has hit a low of $13.02 and a high of $14.19. As of 12:20, STZ is trading at $13.84 up $1.16 (9.2%). The chart for STZ looks bullish and S&P gives STZ a positive 4 STARS (out of 5) buy ranking.

Schnitzer Steel (NASDAQ: SCHN - option chain) stock is falling today after the company reported a third-quarter loss this morning of $1.53 million, or 5 cents per share. Analysts had expected the company to report a profit of 16 cents per share. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on SCNH.

This morning, SCHN opened at $56.99. So far today the stock has hit a low of $52.40 and a high of $57.00. As of 12:00, SCHN is trading at $52.88, down $7.33 (-12.2%). The chart for SCHN looks bullish.

Elan Corp (NYSE: ELN - option chain) stock is falling today after Biogen (NASDAQ: BIIB) reported another serious brain infection in a patient being treated with Tysabri. Tysabri is a MS drug whose revenues are shared by BIIB and ELN. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on ELN.

This morning, ELN opened at $7.37. So far today the stock has hit a low of $6.87 and a high of $7.49. As of 11:15, ELN is trading at $6.88, down 48 cents (-6.5%). The chart for ELN looks neutral and S&P gives ELN a neutral 3 STARS (out of 5) hold ranking.

Sina (NASDAQ: SINA - option chain) shares are rising today after the company was upgraded by Deutsche Bank from Sell to Hold with a price target of $31. This action comes even though Deutsche thinks that Sina's deal for Focus Media Holdings (NASDAQ: FMCN) is getting more likely to fall through. If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on SINA.

SINA opened this morning at $30.22. So far today the stock has hit a low of $30.09 and a high of $32.60. As of 11:35, SINA is trading at $32.42 up $2.42 (8.1%). The chart for SINA looks bullish.

PetSmart (NASDAQ: PETM - option chain) shares are rising today after the company boosted its quarterly dividend to 10 cents per share from 3 cents per share. PetSmart also announced it is planning a $350 million stock buyback. If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on PETM.

PETM opened this morning at $21.11. So far today the stock has hit a low of $20.41 and a high of $21.19. As of 11:20, PETM is trading at $20.72 up 0.74 (3.7%). The chart for PETM looks bullish and S&P gives PETM a positive 4 STARS (out of 5) buy ranking.

Boeing (NYSE: BA - option chain) stock is falling today after the company postponed the first flight of its 787 Dreamliner again to reinforce an area within the side-of-body section of the aircraft. The maiden voyage of the plane is already two years behind its original schedule. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on BA.

This morning, BA opened at $44.39. So far today the stock has hit a low of $42.52 and a high of $44.50. As of 12:25, BA is trading at $42.77, down $4.13 (-8.6%). The chart for BA looks neutral and S&P gives BA a neutral 3 STARS (out of 5) hold ranking.

Tempur-Pedic (NYSE: TPX - option chain) shares are rising today after competitor Sealy Corp. (NYSE: ZZ) reported a preliminary second-quarter profit margin of 40.1 to 41.1 percent on revenue of $294 million to $301 million, in line with analyst forecasts of $296 million. This should be a good sign for TPX as well. If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on TPX.

TPX opened this morning at $12.04. So far today the stock has hit a low of $12.01 and a high of $13.22. As of 11:35, TPX is trading at $12.65 up 0.86 (7.3%). The chart for TPX looks neutral and S&P gives TPX a neutral 3 STARS (out of 5) hold ranking.

Prudential Financial (NYSE: PRU - option chain) shares are rising today after PRU said last night it plans to sell its 38-percent stake in Wells Fargo Advisors to Wells Fargo & Co. (NYSE: WFC). The stake is estimated to be worth $5 billion. If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on PRU.

PRU opened this morning at $36.06. So far today the stock has hit a low of $36.06 and a high of $38.03. As of 11:30, PRU is trading at $37.58 up $1.85 (5.2%). The chart for PRU looks bullish and S&P gives PRU a positive 4 STARS (out of 5) buy ranking.

Reynolds American (NYSE: RAI - option chain) shares are rising today after a federal jury ruled that the company did not infringe upon Star Scientific Inc.'s (NASDAQ: STSI) patents regarding a method to reduce cancer-causing toxins in tobacco. The jury determined the two STSI patents at issue were not valid. STSI is expected to file an appeal. If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on RAI.

RAI opened this morning at $37.03. So far today the stock has hit a low of $36.86 and a high of $37.97. As of 12:20, RAI is trading at $37.29 up.96 cents(2.6%). The chart for RAI looks neutral and S&P gives RAI a neutral 3 STARS (out of 5) hold ranking.

Genzyme (NASDAQ: GENZ - option chain) stock is down today after the company said it has stopped production at a plant in Massachusetts due to viral contamination in one of its bioreactors. The plant, which produces two of GENZ's leading drugs, Cerezyme and Fabrazyme, should reopen at the end of July. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on GENZ.

This morning, GENZ opened at $51.42. So far today the stock has hit a low of $51.30 and a high of $52.95. As of 11:30, GENZ is trading at $52.80, down $2.82 (-5.1%). The chart for GENZ looks bullish and S&P gives GENZ a positive 5 STARS (out of 5) strong buy ranking.

Rio Tinto (NYSE: RTP - option chain) stock is declining this morning on reports that Chinese authorities could use a new antitrust law to block the company's planned joint venture with BHP Billiton (NYSE: BHP). If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on RTP.

This morning, RTP opened at $193.00. So far today the stock has hit a low of $188.52 and a high of $194.00. As of 11:45, RTP is trading at $190.15, down $14.29 (-7.0%). The chart for RTP looks neutral and S&P gives RTP a neutral 3 STARS (out of 5) hold ranking.

Rambus Inc. (NASDAQ: RMBS - option chain) shares are rising today after the company said European Union antitrust regulators have agreed to drop a probe and any fines if the company reduces its royalty rates for DRAM memory chip patents. The European Commission had charged RMBS with setting exorbitant royalties for DRAM patents. If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on RMBS.

RMBS opened this morning at $16.84. So far today the stock has hit a low of $16.55 and a high of $17.81. As of 11:15, RMBS is trading at $17.44 up 2.35 (15.6%). The chart for RMBS looks bullish.

Pfizer (NYSE: PFE - option chain) shares are rising today after the company gave an update on mid-stage studies of its experimental rheumatoid arthritis drug. A Phase Two study shows PFE's oral JAK-3 inhibitor "demonstrates statistically significant response for patients with rheumatoid arthritis." PFE is currently enrolling patients for a phase 3 study of the treatment. If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on PFE.

PFE opened this morning at $14.09. So far today the stock has hit a low of $14.05 and a high of $14.65. As of 11:45, PFE is trading at $14.60 up 55 cents (3.9%). The chart for PFE looks neutral and S&P gives PFE a neutral 3 STARS (out of 5) hold ranking.

This post was written by Minyanville contributor Rod David.

One of my favorite setups is a "session-long rally" (or session-long decline). Its primary elements are a gap up above the prior afternoon's high, that is maintained through a relevant timing window. Two other critical elements were both fulfilled. Notice how the gap up failed to remain above yesterday afternoon's high. The story doesn't stop there, as just a signal that failed to trigger. Its failure has all sorts of implications.