New Long Plays
New Short Plays
Long Play Updates
Amer. Campus Comm. - ACC - close: 26.50 chg: -0.19 stop: 25.49
ACC continued to trade lower but the stock managed a bounce off its lows near the $26.00 level. Our recent update suggested that readers watch for a bounce in the $26.00-26.25 region as a new bullish entry point. We would still consider new bullish positions on a move above $26.75 or $27.00.
Picked on March 15 at $27.11
Aeropostale - ARO - close: 30.76 change: -0.30 stop: 29.99
We suspect that ARO will pull back toward the $30.00 level again near its simple 10-dma. Watch for a bounce from the $30.00 region as a new bullish entry point. Our target is the $33.95-34.50 range.
on March 17 at $31.21
BE Aerospace - BEAV - close: 24.81 change: +0.17 stop: 22.95
BEAV displayed some relative strength today but the stock remains under resistance at the $25.00 level. We are not suggesting new bullish positions at this time. Our target is the $26.00-26.50 range but more aggressive traders may want to aim higher.
on March 12 at $24.25
Hewlett Packard - HPQ - cls: 33.54 chg: -0.42 stop: 32.45
HPQ succumbed to profit taking this afternoon although volume on the decline today was light. Technical traders will note that short-term oscillators are turning bearish. We expect a pull back toward the $33.00 level, maybe worse. More aggressive traders may want to think about widening their stop loss and putting it under the simple 50-dma, which could be technical support.
Picked on February 22 at $32.94
IAC/InterActive - IACI - close: 30.35 chg: -0.28 stop: 29.95*new*
IACI produced an intraday bearish reversal. Shares also broke down under their simple 10-dma. Short-term technicals are bearish. We expect that shares will dip to the $30.00 level. In order to reduce our risk we're going to raise our stop loss to $29.95. We'd rather get stopped out early and then be ready should IACI reverse higher again.
Picked on March 03 at $30.31
Synopsys - SNPS - close: 22.24 change: +0.13 stop: 21.89*new*
Software stock SNPS continues to look weak. The stock is testing support near $22.00 and its simple 50-dma. We are raising our stop loss to $21.89. We are not suggesting new bullish positions at this time.
Picked on March 02 at $22.49
Smurfit-Stone - SSCC - close: 13.17 chg: -0.24 stop: 12.99
SSCC has drifted lower toward technical support at its simple 50-dma. Volume continues to be very light on this post-breakout consolidation. Watch for a bounce from $13.00 as a new bullish entry point. There is some resistance around the December-January highs in the $14.25 zone. Conservative traders may want to exit early near $14.25. We're going to target a rally into the $14.95-15.50 range.
Picked on March 19 at $13.58
Short Play Updates
Baidu.com - BIDU - close: 49.40 change: -1.38 stop: 52.11
Good news. BIDU has fallen back under the $50.00 level. This reversal back under round-number support/resistance at $50.00 is a good sign. However, we would not consider new bearish positions until BIDU traded back under $48.00.
Picked on March 09 at $ 48.32
Crown Castle Intl. - CCI - close: 29.25 chg: -0.51 stop: 31.01
CCI has produced a failed rally at the $30.00 mark today. We see this as a new bearish entry point for shorts. Our target is the $26.25-26.00 range.
Picked on March 15 at $29.36
N.Y.Times - NYT - close: 25.79 change: -0.20 stop: 26.76
NYT is inching closer to our trigger to short the stock at $25.64. More aggressive traders may want to think about initiating new positions here under $26.00. Our short-term target is only the $24.00 level since we do not want to hold over the earnings report next month. More aggressive traders with a longer time horizon may want to aim lower. Please note that NYT does have relatively strong short interest. The most recent data put short interest at 7.9% of its 134 million-share float.
Picked on March xx at $xx.xx <-- see TRIGGER
Tribune Co. - TRB - close: 28.56 change: -0.18 stop: 31.01
TRB sank to a new two-month low today but shares have not yet broken past the February 2006 low near $28.40. Don't be surprised to see an oversold bounce from that level. Our target is the $26.50-26.00 range. We do not want to hold over the April earnings report.
Picked on March 19 at $29.36
Closed Long Plays
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Today's Newsletter Notes: Market Wrap by Jim Brown and all other plays and content by the Option Investor staff.
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