Long Play Updates
Archstone-Smith - ASN - close: 36.70 chg: -0.11 stop: 34.85
No change from our previous updates on 05/09/05 and 05/08/05.
Picked on May 06 at $36.26
Brookfield Homes - BHS - close: 47.21 chg: -0.09 stop: 42.45
BHS hit yet another new high early this morning but couldn't hold it. The stock traded most of the day in a narrow 50-cent range between 47.04 and 47.54. We remain bullish but readers looking for a new entry point might be better off waiting for a dip. We see no change from our previous update on 05/08/05.
Picked on May 05 at $45.05
Caremark - CMX - close: 43.70 chg: +0.40 stop: 40.95
CMX is displaying relative strength with today's 0.9 percent gain compared to the broad-market declines today. We see no changes from our previous update on 05/09/05.
Picked on May 09 at $43.30
First Bancorp - FBP - close: 39.95 chg: -0.30 stop: 37.00
The banking sector doesn't look too hot with today's decline. We're concerned that a market pull back (and/or a drop in the financials) will reverse FBP's recent bullish breakout. Readers need to decide very quickly how much volatility they are willing to endure here. More conservative traders may want to consider a tighter stop near $39.00-39.25. This could help protect your capital and you can always reconsider jumping back in on a later bounce. Right now we're expecting a dip toward the simple 10-dma near the $39.00 level.
Picked on May 05 at $40.37
Greenhill & Co - GHL - close: 36.14 chg: +2.03 stop: 32.49*new*
Wow! GHL is showing lots of strength today with a 5.9 percent gain on volume about 20x the average. This suggests more strength ahead but we need to be prepared for some short-term profit taking after such a big bullish move higher over the last three sessions. It is encouraging to see the breakout over its 50-dma and the $35.00 level. Our short-term target is only the $37-38 range so traders who missed the entry this morning may want to look for a dip back toward the $35.00 level before evaluating a new position. FYI: We heard an analyst issue positive comments about GHL on CNBC today suggesting it's a better investment than the recent Lazard (LAZ) IPO. We're raising our stop loss to $32.49.
on May 09 at $34.11
Humana - HUM - close: 36.50 chg: +0.17 stop: 32.95
HUM is still showing relative strength with another gain and another new all-time high in spite of today's market weakness. We see no change from our previous update on 05/09/05.
Picked on May 09 at $36.33
Short Play Updates
Ball Corp - BLL - close: 38.50 chg: -0.90 stop: 41.01
BLL lost 2.2 percent today and closed at a new two-week low. This looks like a new bearish entry point. Its MACD indicator is nearing a new sell signal.
on May 05 at $38.98
Biomet - BMET - close: 37.35 chg: -0.83 stop: 39.51
Ding! BMET has been triggered. Today's weakness helped push BMET to a 2.17 percent loss. The stock broke down below its short-term trend of higher lows and traded through our trigger to short the stock at $37.45. Its MACD indicator has produced a new sell signal. This still looks like a bearish entry point. Our target is the $33-32 range.
Picked on May 10 at $37.45
Boston Scientific - BSX - cls: 29.75 chg: +0.25 stop: 31.51
No change from our previous update on 05/08/05.
Picked on April 19 at $29.05
Novellus - NVLS - close: 23.92 change: +0.14 stop: 25.01
Continue to watch the SOX semiconductor index for direction. It looks like the group is about to turn lower after failing to breakout over the 400 level. Meanwhile NVLS is testing resistance at its 21-dma. Readers can watch for another decline below the $23.40 level as a new bearish entry point.
Picked on April 29 at $23.40
Catalina Mktg - POS - close: 24.35 chg: -0.24 stop: 25.25
No change from our previous update on 05/08/05. POS remains under resistance at the $25.00 mark.
Picked on April 22
Closed Long Plays
Closed Short Plays