New Long Plays
New Short Plays
Long Play Updates
Apria Healthcare - AHG - cls: 32.14 chg: -0.23 stop: 29.99
Our new bullish play in AHG struggled to maintain its bullish momentum after another day or widespread market losses. AHG weathered the down turn relatively well but if the market continues to sink we would expect the stock to follow. A bounce in the $31.75-32.00 region might make an attractive entry point. More conservative traders may want to see a new high over $33.00 before considering new positions. We'll put our stop at $29.99 while conservative types might want to use a tighter stop. Our target is the $35.75-36.00 range. We do not want to hold over the late April earnings report.
Picked on March 27 at $32.37
Bristow Group - BRS - close: 35.98 chg: -0.54 stop: 34.99
The rising tensions between Iran and the West over the capture of 15 British soldiers is pushing crude oil higher. Yet surprisingly the strength in oil failed to materialize in the oil stocks on Wednesday. Shares of BRS slipped 1.4% and broke down under the 50-dma and what should have been short-term support near $36.00. We are not suggesting new positions at this time. More conservative traders may want to use a tighter stop near $35.30. Our target is the February highs in the $38.40-38.50 range. FYI: The P&F chart is bullish and points to a $47 target.
Picked on March 11 at $35.88
Canadan Nat.Res. - CNQ - cls: 55.33 chg: +1.00 stop: 49.95 *new*
CNQ is one of the few stocks, even among the oil sector, that traded higher on Wednesday. The stock spiked higher at the open and closed up 1.8% on above average volume. We are adjusting the stop loss to $49.95. Our target is the $58.00-60.00 range. The rally past $53.00 has produced a brand new Point & Figure chart buy signal with a $62 target. We do expect some resistance near $56.00-56.50.
Picked on March 21 at $53.05
eBay Inc. - EBAY - close: 33.11 chg: -0.22 stop: 29.85
EBAY looks like it is rolling over into a short-term bearish reversal. We expect a pull back toward $32.50 maybe lower. We are not suggesting new positions at this time. More conservative traders may want to tighten their stops. We have two targets. Our first, more conservative target, will be the $33.85-34.00 range, since EBAY has resistance near the $34.00 level. Our second, more aggressive target, will be the $37.00-38.00 zone. FYI: We do not want to hold over the late April earnings.
Picked on March 05 at $30.49
EMC Corp. - EMC - cls: 13.49 chg: -0.12 stop: 12.74
EMC is still consolidating lower after last week's big rally. Watch for a dip towards $13.25 as the next entry point. More conservative traders may want to adjust their stop toward $13.00. Our target is the $14.50-15.00 range. FYI: The P&F chart is still bearish from the February-March sell-off.
Picked on March 21 at $13.26
Helmerich Payne - HP - cls: 30.27 chg: -0.54 stop: 27.95
HP is another oil-related stock that experienced profit taking instead of gains in spite of another rise in crude oil. The move today looks like a short-term bearish reversal and we can probably expect a dip toward $29. We are not suggesting new positions and some of our readers may want to lock in a gain now. Our target is the $32.50 mark.
Picked on March 19 at $28.77 *gap higher*
KLA-Tencor - KLAC - cls: 53.35 chg: -0.51 stop: 52.75
KLAC is still bouncing around the $53-55 range. However, the trading over the last two sessions looks bearish. A breakdown under $53 might herald a more significant pull back. We're still waiting for a breakout over resistance near $55.00. Our suggested trigger to buy the stock is at $55.15. If triggered our target is the $59.50-60.00 range. Before opening positions consider our time frame. We do not want to hold over the mid-April earnings report. That gives us about three weeks, which may be a little optimistic. FYI: The P&F chart is bullish with a $69 target.
Picked on March xx at $xx.xx <-- see TRIGGER
Northwest Pipe Co. - NWPX - cls: 38.41 chg: +1.16 stop: 34.95
Good news! There was no follow through on yesterday's bearish reversal. Instead the stock displayed relative strength and produced a 3.1% rally on above average volume. This remains a higher-risk play. More conservative traders may want to exit early or tighten their stops even further. Our target is the $39.85-40.00 range. More aggressive traders may want to aim higher. The P&F chart points to a $53 target.
Picked on March 25 at $36.85
TEPPCO Part. - TPP - close: 44.00 chg: -0.01 stop: 41.95
There is no change from our previous comments on TPP. The stock looks lost in its own world and ignoring the volatility in the broader markets. We're not complaining but we're not suggesting new positions either. More conservative traders may want to tighten their stops. Our target is the $44.90-45.00 range. The Point & Figure chart is very bullish with a $67 target. FYI: In the news today TPP announced an analysts meeting for Thursday, March 29th in New York City around 1:30 in the afternoon.
Picked on March 06 at $42.88
Short Play Updates
Closed Long Plays
Bright Horizons - BFAM - cls: 37.45 chg: -0.41 stop: 37.45
We have been stopped out of BFAM at $37.45. The stock finally filled the gap from last week's surge higher. Unfortunately, the stock has also broken down under short-term support at its 10-dma and the $37.50 level. The intraday low was $37.33.
Picked on March 21 at $38.62 *gap higher*
Countrywide Fincl. - CFC - cls: 33.72 chg: -0.99 stop: 33.95
We would have been stopped out at $33.95. The news that homebuilder BZH was under investigation for its lending practices send the mortgage lenders lower. Shares of CFC gapped down to open at $34.23 and then plunge to $33.13 before paring its losses. If CFC can bounce from here it would look like a bullish double-bottom. However, we'd wait and watch for a rally past $35.00 before entertaining thoughts of going long again.
Picked on March 25 at $36.83
Titanium Metals - TIE -cls: 35.55 chg: -0.75 stop: 34.49
It looks like we've been stopped out at $34.49 but the intraday low today, $34.26, appears to be a bad tick. If you look at the intraday chart the low of the day is $35.12. We're going to close the play as a loss but we'll keep an eye on TIE for a future entry point to buy the stock.
Picked on March 21 at $36.30
Closed Short Plays