Option Investor
New Plays
Click here to email James
HAVING TROUBLE PRINTING?
Printer friendly version
New Plays
Long Plays
Short Plays
None CTAS
  FAST
  MNST
  NTAP

New Long Plays

None today.
 

New Short Plays

Cintas - CTAS - cls: 35.65 change: -0.81 stop: 37.01

Company Description:
Headquartered in Cincinnati, Ohio, Cintas Corporation provides highly specialized services to businesses of all types throughout North America. Cintas designs, manufactures and implements corporate identity uniform programs, and provides entrance mats, restroom supplies, promotional products, first aid and safety products, fire protection services and document management services to approximately 700,000 businesses. (source: company press release or website)

Why We Like It:
Shares of CTAS appear to be in both a long-term and intermediate turn bearish trend of lower highs. Short-term the stock's oversold bounce has failed under the $37.00 level. Friday's breakdown under support near $36.00 looks like a new entry point for shorts. The Point & Figure chart is already bearish with a $29 target. We are suggesting shorts with CTAS under $36.00. There is some support in the $34.75 region but if the major averages continue lower we expect CTAS to breakdown to new lows. Our target is the $33.50-33.00 range.

Picked on September 09 at $35.65
Change since picked: + 0.00
Earnings Date 09/20/07 (unconfirmed)
Average Daily Volume: 1.1 million

---

Fastenal Co. - FAST - cls: 43.48 change: -1.12 stop: 46.01

Company Description:
Fastenal operates 2,109 stores in the United States (all 50 states), Canada (all provinces), Puerto Rico (multiple), Mexico (14 states), Singapore (one location), Netherlands (one location), and China (one location) selling to the general public. The Company operates 12 distribution centers located in Minnesota, Indiana, Ohio, Pennsylvania, Texas, Georgia, Washington, California, Utah, North Carolina, Kansas, and Ontario, Canada. (source: company press release or website)

Why We Like It:
FAST is breaking down through multiple levels of support. The stock has broken its five-week trend of higher lows. Plus, Friday's decline looks like the breakdown from a bearish head-and-shoulders pattern (see chart). There is potential support near $43.00 but again if the markets continue lower then we expect FAST to follow. We are targeting a decline into the $40.25-40.00 range. The $40.00 level and its rising 200-dma near $40 should be support. FYI: The P&F chart is still bullish, for now.

Picked on September 09 at $43.48
Change since picked: + 0.00
Earnings Date 10/11/07 (unconfirmed)
Average Daily Volume: 1.6 million

---

Monster Worldwide - MNST - cls: 33.50 chg: -0.77 stop: 35.05

Company Description:
Monster Worldwide, Inc., parent company of Monster, the premier global online employment solution for more than a decade, strives to bring people together to advance their lives. (source: company press release or website)

Why We Like It:
MNST's recent announcement about a stock buy back failed to inspire any rally. Instead the stock has been struggling under resistance near $35.00. Shares are already in a bearish trend of lower highs dating back for months. Now that the market is worried about the job situation in the economy staffing stocks like MNST could get hurt. We are suggesting short positions now. More conservative traders may want to wait for a new low under $32.50 before initiating positions. Our first target is the $30.25-30.00 range.

Picked on September 09 at $33.50
Change since picked: + 0.00
Earnings Date 12/26/07 (unconfirmed)
Average Daily Volume: 2.6 million

---

Network Appl. - NTAP - cls: 27.12 change: -1.15 stop: 28.85

Company Description:
Network Appliance is a world leader in unified storage solutions for today's data-intensive enterprise. Since its inception in 1992, Network Appliance has delivered technology, product, and partner firsts that simplify data management. (source: company press release or website)

Why We Like It:
NTAP is another stock that's seen a steady trend of lower highs. Shares did manage to rally in late August but the rebound ran out of steam almost exactly where it needed to fill the gap from early August. After spending almost two weeks failing to breakout over the $28.50 region NTAP is now headed lower. We're suggesting short positions now although readers could wait and look for another bounce and failed rally near $28.00 as a new entry point. We have two targets. Our first target is the $25.15-25.00 range. Our second target is the $24.00-23.50 zone.

Picked on September 09 at $27.12
Change since picked: + 0.00
Earnings Date 11/15/07 (unconfirmed)
Average Daily Volume: 11.1 million
 

Premier Investor New Play Archives