Long Play Updates
Amer. Home Mtg Invest. - AHM - cls: 36.06 chg: -0.16 stop: 34.95
There is still no change from our weekend update. AHM is bouncing around its $35.50-37.00 trading range. Readers can choose to buy a bounce from the bottom of the range or wait for a breakout.
Picked on June 19 at $36.34
CB Rich. Ellis Grp - CBG - close: 41.16 chg: +0.16 stop: 38.49
CBG is showing some relative strength today. No change from our previous update.
Picked on June 20 at $41.40
Caremark - CMX - close: 43.46 chg: -0.71 stop: 42.45
No change from our previous update. We are not suggesting new plays at this time. More conservative traders may want to exit early to avoid any losses, especially if the major averages continue declining.
Picked on May 09 at $43.30
Deckers Outdoor - DECK - cls: 25.18 chg: -0.70 stop: 23.75
We suggested buying a dip back toward the $25.00 level and DECK supplied one today. Shares dipped to $25.20 for a while and then mid afternoon dipped again toward $24.50 before traders bought the dip and pushed it back above the $25.00 level. This looks like a new bullish entry point but with the market's sell-off today we might hesitate to open new bullish positions. Our target is the $29.50-30.00 range. Please see our 06/22/05 update for more details.
Picked on June 22 at $25.88
ExxonMobil - XOM - close: 59.02 change: -0.65 stop: 56.99
Surprisingly the oil stocks didn't do much today in spite of the new high in crude oil. Shares of XOM actually faded lower. We continue to watch for a dip toward the $58.50-58.00 region.
Picked on June 09 at $58.44
M/I Homes Inc - MHO - close: 52.80 chg: -1.48 stop: 50.98
After four days of churning sideways under resistance at the $55.00 level traders were not afraid to do some profit taking during today's market decline. MHO lost 2.7 percent but the selling began to loose momentum after the stock filled the gap from the 17th and neared its simple 10-dma.
Picked on June 14 at $50.98
Sirius Satellite Radio - SIRI - cls: 5.88 chg: -0.04 stop: 5.59
No change from our weekend update.
Picked on May 22 at $ 5.65
Sohu.com - SOHU - close: 22.77 change: -0.24 stop: 21.25 *new*
SOHU held up better than most of the Internet stocks today. The stock is overbought. We would expect a pull back toward the 10-dma near $22.00 before it continues higher. We are raising our stop loss to breakeven at $21.25.
Picked on June 13 at $21.25
Short Play Updates
Rogers Corp - ROG - close: 41.15 change: -1.30 stop: 45.01
This is more like it. ROG is declining with the market and lost more than three percent today on volume slightly above average. This marks a new two week low. Watch for potential support near the 100-dma above the 40.00 level.
Picked on June 20 at $42.40
Closed Long Plays
Canon - CAJ - close: 54.56 change: -0.04 stop: 53.45
CAJ did indeed trade over the $55.00 level on Thursday but the stock was unable to maintain its gains. We've been cautious on the stock for days now and we're choosing to exit early.
Picked on May 29 at $55.24
Greenbrier Co - GBX - close: 28.10 change: -1.56 stop: 27.99
The Transportation sector was one of the worst performing sectors today. Investors drove the group to a 3.1 percent decline on fears of rising oil and fuel costs. Shares of GBX were hammered late in the session and dipped to $27.90 before the closing bell. We have been stopped out at $27.99.
Picked on June 01 at $28.67
General Electric - GE - close: 34.66 chg: -0.84 stop: 34.95
Wow! It looks like investors were not happy with the news out of GE today. The company reaffirmed its earnings guidance and announced plans to streamline the company's eleven businesses into six divisions. The re-organization is projected to save the company $200-to-$300 million. The market reaction was negative then again maybe it was just an overreaction to what $60 a barrel oil might cost to a company like GE. Shares gapped lower to open at $35.50 below the simple 200-dma and then sank through its 200-ema and then through support at the $35.00 level on big volume. We have been stopped out at $34.95.
Picked on June 22 at $36.00
Georgia Gulf - GGC - close: 33.44 change: -1.41 stop: 33.95
The market sell-off today hit hard in shares of GGC and the stock broke down below the $34.00 level. We have been stopped out at $33.95.
Picked on June 05 at $34.33
Smurfit-Stone Cont. - SSCC - close: 10.99 chg: -0.30 stop: 10.99
SSCC is another casualty from today's market decline. The stock dipped below the $11.00 level right near the end of the day. We have been stopped out at $10.99.
Picked on June 19 at $11.68
Closed Short Plays