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New Plays
Long Plays
Short Plays
AXYS None
ITB  

New Long Plays

Axsys Tech. - AXYS - cls: 47.43 chg: +2.75 stop: 43.85

Company Description:
Axsys Technologies, Inc. is a global leader in the design and development of high-performance surveillance cameras, imaging systems and related motion control technologies, serving the aerospace, defense and high-performance commercial markets. (source: company press release or website)

Why We Like It:
This one is for the real momentum traders out there. We normally don't like to chase a one-day move like AXYS' 6% gain today but this looks like an entry point if we want to jump on the band wagon. The stock exploded higher a few days ago following a bullish earnings report where management raised guidance. Volume has been very strong on the rallies. Today's volume was about three times the norm. We have to classify this as an aggressive play because of the volatile moves and the low average volume. We're suggesting a stop loss at $43.85. Our target is the $54.00-55.00 range. The Point & Figure chart is bullish with a $54 target.

Picked on February 26 at $47.43
Change since picked: + 0.00
Earnings Date 02/19/08 (confirmed)
Average Daily Volume: 75 thousand

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iShares Dow Jones Home Con. - ITB - cls: 20.57 chg: +1.24 stop: 19.24

Company Description:
The ITB is the iShares Dow Jones U.S. Home Construction ETF or exchange traded fund.

Why We Like It:
The homebuilders are breaking out and while recent reports suggest there is still trouble ahead the group's recent price action is tempting. Today the sector has broken out from its February consolidation pattern although it remains under the early February highs. We are suggesting the ITB instead of the individual names merely to reduce our risk to a company-specific headline. Once again we're chasing a big one-day move here and would much rather buy a dip near $20.00 or even $19.65-19.50 if we got the chance. Our short-term target is the $23.00-23.50 zone near its 200-dma.

Note: We would also watch the XHB and the individual names for potential plays.

Picked on February 26 at $20.577
Change since picked: + 0.00
Earnings Date 00/00/00 (unconfirmed)
Average Daily Volume: 732 thousand
 

New Short Plays

None today.
 

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