New Long Plays
Lear Corp. - LEA - close: 29.25 change: -0.48 stop: 27.99
Why We Like It:
Picked on January 05 at $29.25
New Short Plays
Mercury Computer - MRCY - close: 19.34 change: -0.72 stop: 20.51
Why We Like It:
Picked on January 05 at $19.34
Long Play Updates
Builders FirstSource - BLDR - close: 21.78 chg: -0.15 stop: 20.25
It was almost as if trading in BLDR disappeared. Volume was extremely low today and shares traded in a narrow range. Everyone must be waiting for the jobs report tomorrow morning. If BLDR dips we'd watch the $21 level for the first line of support. Our target is the $23.50-24.00 range. We do not want to hold over the earnings report even if we think it will be positive.
Picked on January 03 at $21.75
Duke Energy - DUK - close: 27.61 change: -0.20 stop: 26.89
Energy stocks, including utilities, turned lower today. DUK lost 0.7% but did not break its short-term trend of higher lows. We are not suggesting new positions. Our target is the $27.95-28.00 range near its 200-dma.
Picked on December 13 at $26.89
LifeCell Corp. - LIFC - close: 19.58 change: +0.63 stop: 19.24
The stock got a lift today after an analyst firm started coverage with a "buy" rating this morning. We do not see any change from our weekend update on LIFC. Our trigger to go long the stock is at $20.65. If triggered we'll target a rally into the $24-25 range. The P&F chart is still bullish with a $29 target. We do not want to hold over the late January earnings report.
Picked on December xx at $xx.xx <-- see TRIGGER
Norfolk So. Corp. - NSC - close: 42.85 chg: -0.70 stop: 42.49
Heads up! Conservative traders may want to abandon ship right here. The transports were weak today and NSC lost 1.6% to close right on its 50-dma. Volume has been pretty heavy during the three-day decline. We are not suggesting new long positions here. We do not want to hold over the late January earnings report.
Picked on December 22 at $44.35
VCA Antech - WOOF - close: 29.14 chg: +0.22 stop: 27.45
WOOF hit another new high today. We will plan to exit ahead of the late January earnings report. Our target is the $29.90-30.00 range.
Picked on November 09 at $26.74
Short Play Updates
GMX Resources - GMXR - close: 36.07 chg: -1.81 stop: 38.51
Weakness in the energy stocks hit GMXR hard today with a 4.7% decline. Traders might want to initiate new shorts if GMXR trades under today's low at $35.64. More conservative traders may want to wait for a new decline under $35.00 before initiating positions. Our target will be the $30.50-30.00 range. We do not want to hold over the late January earnings report.
Picked on January 01 at $36.00
Network Appliance - NTAP - cls: 28.21 chg: +0.15 stop: 28.55
Tech stocks were the market leaders today and NTAP inched higher again but the "rally" couldn't push past the 50-dma - at least during the regular session. After hours Xyratex (XRTX) reported a strong Q4 earnings result and shares of NTAP were trading higher after hours. It would not take much for NTAP to hit our stop loss at $28.55 tomorrow.
Picked on December 28 at $27.70
Somanetics - SMTS - close: 29.75 change: -0.18 stop: 33.05
We are not suggesting new positions at this time. More conservative traders may want to exit right here. Our target is the $27.50-27.00 range.
December 29 at $32.45
Waters Corp. - WAT - close: 37.26 chg: -0.57 stop: 39.25
WAT is hitting new relative lows and this looks like a new bearish entry point. However, traders might want to wait on starting new plays until after we see how the market reacts to the jobs report tomorrow morning. Our target is the $35.25-35.00 range. WAT's P&F chart points to a $25 target. We do not want to hold over the late January earnings report.
Picked on December 18 at $38.60
Closed Long Plays
Outback Steakhouse - OSI - close: 40.50 chg: -1.49 stop: 40.49
We have been stopped out. Investors reacted negatively to OSI's same-store sales numbers for December. The company said that same store sales for the Outback restaurants had fallen 1.2% compared to a 5.2% gain in its Carrabba's chain. Our stop loss was $40.49 and OSI hit 40.44 today.
Picked on December 23 at $41.55
Closed Short Plays
NeuroMetrix - NURO - close: 31.29 chg: +1.19 stop: 31.05
The rebound in NURO continued into Thursday and the stock broke out over its 100-dma and hit our stop loss at $31.05.
Picked on December 06 at $29.59