New Long Plays
New Short Plays
Long Play Updates
A.G.Edwards - AGE - close: 58.63 change: +0.61 stop: 55.49
The XBD broker-dealer index broke out past resistance to hit new all-time highs. Meanwhile shares of AGE hit its own record high with a 1% gain today. We don't see any changes from our previous updates on AGE. Our target is the $62.50 level There is a chance that AGE could encounter some round-number resistance at the $60 level. However, the P&F chart has a quadruple-top breakout buy signal with a $70 target.
Picked on November 15 at $58.15
Celadon Group - CLDN - close: 20.42 change: +0.73 stop: 17.99
If you were waiting for a breakout over round-number resistance at $20.00 or for a rise past the early November high then this is it! Transport stocks turned in a strong session thanks to a serious plunge in crude oil futures. CLDN rallied 3.7% to a new four-week high. Our target is the $22.00 level. Plan for some resistance at $21.00 at least on the initial test. Conservative traders might want to consider a tighter stop loss (maybe near $18.50).
Picked on November 12 at $19.44
HARSCO - HSC - close: 81.13 change: +0.13 stop: 79.90
We remain wary with HSC and its lack of strength. If we don't see some sort of real rebound tomorrow expect us to drop the stock as a bullish candidate. Traders may want to keep the stock on their watch list for a breakout past resistance at $83.00.
Picked on November 14 at $ 81.30
Heinz - HNZ - close: 43.95 change: +0.16 stop: 41.85
Good news. HNZ issued a press release today stating that they would report earnings on November 30th. This gives us a few more days for the stock to keep climbing. We're not suggesting new positions at this time. Our target is the $46.50-47.00 range. FYI: More conservative traders may want to tighten stops toward the $42.50 region.
on November 08 at $43.20
Thor Industries. - THO - close: 44.70 change: +0.60 stop: 41.99
Recreational vehicles aren't known for being very fuel-efficient. Thus today's sharp decline in oil lent some strength to THO shares. The stock rose 1.3% on improving volume. We would still consider bullish positions here. Short-term technicals are certainly improving. Our target is the $47.85-48.00 level. near the October peak.
Picked on November 15 at $44.25
VeriSign - VRSN - close: 23.50 change: -0.01 stop: 20.99
Shares of VRSN traded sideways in a narrow range on Thursday. The lack of profit taking is a good sign but the stock looks somewhat overbought on a short-term basis. We wouldn't be surprised to see a dip back towards $23.00 or $22.50 either of which could be used as a new entry point. Our target is the $24.90-25.00 range.
Picked on November 13 at $22.51
Short Play Updates
Texas Instruments - TXN - cls: 30.26 chg: +0.09 stop: 30.51
Semiconductor stocks stumbled this morning after AMAT reported earnings and missed the estimates last night. Unfortunately for the bears traders bought the dip in chip stocks and the group slowly inched higher throughout the day. Shares of TXN are trading under our stop loss and short-term resistance near $30.50. We are not suggesting new positions. If the sector shows any strength tomorrow we would expect to be stopped out.
Picked on October 27 at $29.90
Closed Long Plays
Hess Corp. - HES - close: 45.31 chg: -1.43 stop: 41.99
We are suggesting an early exit in HES. Crude oil futures posted their biggest one-day decline in over a year with today's 4.3% loss. The move is a breakdown from oil's recent trading range and put crude oil futures at their lowest level in a year. The reaction in shares of HES produced a bearish engulfing candlestick pattern, which is typically seen as a one-day bearish reversal pattern.
Picked on November 05 at $43.85
Oil States - OIS - close: 29.20 change: -1.18 stop: 28.84
Reversal alert! The sharp drop in oil futures pulled the energy stocks with it. Shares of OIS, which were strong on Wednesday, gave back all if its gains and then some with a 3.8% decline. Today's session also produced a bearish engulfing candlestick pattern. We're suggesting an early exit to cut our losses now.
on November 08 at $30.21
Pacific Ethanol - PEIX - close: 18.07 chg: -1.01 stop: 16.75
We're suggesting an early exit in PEIX. The stock spiked to $19.80 this morning, which was almost enough to hit our $19.90-20.00 target, but unfortunately it looks like PEIX was caught up in the energy stock sell-off. Today's session looks like a bearish failed rally at round-number resistance at the $20.00 level. It also appears to be a bearish "dark cloud cover" candlestick pattern.
Picked on November 08 at $17.51
Closed Short Plays
Toll Brothers - TOL - close: 29.71 chg: +0.91 stop: 30.05
Homebuilders continued to rally on Thursday. It didn't hurt the bulls that the CPI data was relatively tame. The DJUSHB index only rose 0.9% and stalled under resistance at the 700 level. Unfortunately, shares of TOL really out performed its peers today with an intraday high of $30.18 and a +3.15% rise into the close. Our stop loss was at $30.05.
Picked on November 07 at $27.60