Option Investor
New Plays
HAVING TROUBLE PRINTING?
Printer friendly version
New Plays
Long Plays
Short Plays
None JOYG
  MNST

New Long Plays

None today.
 

New Short Plays

Joy Global - JOYG - close: 37.35 chg: -1.76 stop: 40.65

Company Description:
Joy Global Inc. is a worldwide leader in manufacturing, servicing and distributing equipment for surface mining through its P&H Mining Equipment division and underground mining through its Joy Mining Machinery division. (source: company press release or website)

Why We Like It:
JOYG's pattern over the last six months has been a bearish one of lower highs. The bounce from its September lows failed under its exponential 200-dma and then again under the 100-dma. Technical indicators on the daily chart are bearish and the P&F chart points to a $17 target. We suspect that at the very least JOYG will test the $35.00 level and probably trade toward the September lows. We are suggesting shorts with JOYG under $40.00. We do expect a bounce on the initial test of the $35.00 level. Our target is the $33.00-32.00 range. FYI: The latest (October) data put short interest at 3.4% of JOYG's 118 million-share float.

Picked on November 01 at $37.35
Change since picked: + 0.00
Earnings Date 12/14/06 (unconfirmed)
Average Daily Volume: 3.1 million

---

Monster Worldwide - MNST - close: 39.60 chg: -0.91 stop: 41.65

Company Description:
Monster is the leading global online careers and recruitment resource. A division of Monster Worldwide, Monster works for everyone by connecting quality job seekers at all levels with leading employers across all industries. Founded in 1994 and headquartered in Maynard, Mass., Monster has 34 local language and content sites in 32 countries worldwide. (source: company press release or website)

Why We Like It:
The bullish trend in the Internet stocks may be in trouble. The trend is still very much intact if you're looking at the INX Internet index but today's session produced a bearish engulfing candlestick pattern, which is normally seen as a bearish reversal. With that in mind we see the weakness in MNST as a potential entry point to short the stock. The stock rallied a couple of days ahead of its October 25th earnings report and then gapped lower on the lackluster news. The following sideways consolidation is now giving in toward a move lower with today's close under the $40.00 level. We're suggesting shorts right here with MNST under $40.00. More conservative traders may want to wait for a decline under $39.00 that way MNST will have broke down under its 100-dma and 50-dma first before you initiate a position. There is some minor support near $38 so expect some sort of bounce but broken support near $40 should act as new resistance. Our target is the $35.50-35.00 range since the $35.00 level has been support over the last few months. FYI: The latest (October) data put short interest at 3% of MNST's 116 million-share float.

Picked on November 01 at $39.60
Change since picked: + 0.00
Earnings Date 10/25/06 (confirmed)
Average Daily Volume: 1.5 million
 

Premier Investor New Play Archives