Long Play Updates
Berry Petrol. - BRY - close: 57.04 change: +1.81 stop: 51.95
Fears that an active storm season off the Atlantic coast and in the gulf helped push crude oil prices higher again today. Hurricanes in the Gulf of Mexico can disrupt our incoming oil supply and actually damage infrastructure both offshore and on the coast. This helped push BRY to another new relative high today and a 3.2 percent rally. We see no change from our previous weekend update. Our target is the $59.50-60.00 range.
Picked on July 03 at $55.23
CB Rich. Ellis Grp - CBG - cls: 43.79 chg: +0.66 stop: 39.99
CBG has rallied back to resistance at the $44.00 level. We continue to target a move into the $44.50-45.00 range. More conservative traders may want to begin taking some profits now.
Picked on June 20 at $41.40
Cameco - CCJ - close: 46.36 chg: +0.42 stop: 41.47
CCJ showed a little bit of volatility today with an opening dip to $43.35 but bulls were quick to buy the dip. The stock ended up closing at a new three-month high. We see no changes from our previous update. Our target is the $49.50-50.00 range.
Picked on June 27 at $44.14
Caremark - CMX - close: 44.55 chg: +0.11 stop: 42.45
We still feel like we are in limbo here. We would not suggest new bullish positions until CMX trades over the $45.00 level. If that occurs you may want to adjust your target higher toward the $49-50 range. Just remember that we plan to exit before CMX reports earnings this month.
Picked on May 09 at $43.30
Deckers Outdoor - DECK - cls: 25.10 chg: +0.34 stop: 23.95
After some intraday volatility DECK ended the session above the $25.00 level. Readers may want to consider new positions here. We continue to suggest that more conservative traders wait for DECK to trade above $25.20 first before going long.
on June 22 at $25.88
Forest Oil - FST - close: 44.40 change: +0.75 stop: 41.25
Another strong day for energy stocks helped push FST above resistance at the $44.00 level. This breakout over resistance puts FST at a new all-time high. Our suggested entry point to go long was at $44.15 so the play is now open. We are going to target a move into the $47.50-48.00 range but we'll close the play before FST's early August earnings report.
Picked on July 05 at $44.15
Short Play Updates
Amazon.com - AMZN - close: 34.08 chg: +1.17 stop: 34.81
AMZN was looking due for an oversold bounce and news that Lehman Brothers had upgraded the stock to a "buy" with a $42 target was a great excuse for some short covering today. AMZN added 3.5 percent on the session but failed to breakout over the $34.50 level and its simple 50-dma, which was previous support. We remain bearish on the stock but would probably look for a move back under $34.00 or 33.50 before opening new positions.
Picked on June 29 at $33.35
Lear Corp - LEA - close: 36.50 chg: +0.10 stop: 38.51
No change from our weekend update.
Picked on June 26 at $36.37
Rogers Corp - ROG - close: 41.00 change: +0.35 stop: 42.51
Traders need to be careful here. Downward momentum is all but gone and ROG is trying to rebound from support at the $40.00 level. More conservative traders may want to exit now for a small profit. We are not suggesting new bearish positions, especially with the new upward tilt to the technical oscillators.
Picked on June 20 at $42.40
Sina.com - SINA - close: 27.30 change: -0.29 stop: 29.31
Good news! SINA continues to display relative weakness and did not participate in today's market rally. We see no changes from our previous update. Our target is the $25.50-25.75 range.
Picked on June 30 at $27.90
Closed Long Plays
Closed Short Plays
Forward Ind. - FORD - close: 20.04 chg: +2.16 stop: 18.35
Our high-risk short in FORD proved to be a little too high risk. Over the weekend we warned readers that the Friday rebound's biggest risk was that of a short squeeze. We suspect that's what happened today after news hit that FORD was added to the Russell Microcap index. We have been stopped out at $18.35.
Picked on June 29 at $17.23