Long Play Updates
Black Hills - BKH - close: 37.31 change: -0.84 stop: 36.85
No change from our previous update. We are still waiting for BKH to confirm the breakout and trade at or above our suggested trigger to go long at $38.20. More aggressive traders might want to consider buying a bounce if the stock can rebound from the $37.00 or $36.50 levels.
on July xx at $xx.xx <-- see TRIGGER
Berry Petrol. - BRY - close: 56.10 change: -0.94 stop: 51.95
Even a new all-time high in crude oil on Wednesday couldn't save the oil stocks from the market's sell-off. BRY lost 1.6 percent in some profit taking today but we see that the selling stalled near the $55 level. Our target is the $59.50-60.00 range.
Picked on July 03 at $55.23
CB Rich. Ellis Grp - CBG - cls: 44.28 chg: +0.49 stop: 41.40*new*
CBG is almost there. The stock showed a lot of strength today and added 1.1 percent in addition to breaking out over resistance at the $44.00 level. Our target is the $44.50-45.00 range. We're raising our stop loss to $41.40. More conservative traders may want to exit now for a profit.
Picked on June 20 at $41.40
Cameco - CCJ - close: 45.94 chg: -0.42 stop: 41.47
No change from our previous update. If the market's continue to drop watch for CCJ to test the $44 level again.
Picked on June
27 at $44.14
Caremark - CMX - close: 43.90 chg: -0.65 stop: 42.85 *new*
CMX lost 1.45 percent in today's market pull back. If the major averages keep declining we'd expect a dip to the 50-dma near 43.30 or the bottom of its four-week trading range near $43.00. We are raising our stop loss to $42.85.
May 09 at $43.30
Deckers Outdoor - DECK - cls: 24.50 chg: -0.60 stop: 23.95
DECK appears to be stuck in a trading range between $24.10 and $25.40. Given the market's weakness today we would not suggest new positions. If the DJIA breaks down under the 10,250 level or the S&P 500 breaks down under the 1188 level then we'd expect DECK to break support at the $24.00 mark.
Picked on June 22 at $25.88
Diodes Inc. - DIOD - close: 32.80 change: +0.32 stop: 30.45
Our aggressive semiconductor long in DIOD is looking okay considering that the SOX completely disregarded the market's weakness today and added more than one percent. DIOD was close behind with a gain of almost one percent. We see no changes from our previous update. Keep an eye on the SOX!
Picked on July 05 at $32.48
Forest Oil - FST - close: 43.54 change: -0.86 stop: 41.25
Uh-oh! Today's session saw FST paint a bearish engulfing candlestick pattern. This is normally seen as a one-day bearish reversal. We would not be surprised to see FST pull back toward the bottom of its previous trading range in the $42.00-41.50 region. We're not suggesting new plays here. More conservative players may want to exit early and wait for the rebound to appear.
Picked on July 05 at $44.15
Short Play Updates
Amazon.com - AMZN - close: 34.06 chg: -0.02 stop: 34.81
AMZN is showing a little too much relative strength today for our liking. Wait for a move under $33.50 before considering new bearish positions. Remember, we don't have a lot of time left considering AMZN's earnings report in the next couple of weeks.
Picked on June 29 at $33.35
Rogers Corp - ROG - close: 41.00 change: +0.00 stop: 42.40*new*
This is not a good sign either. ROG is showing way too much relative strength on a day the markets are sharply lower. More conservative traders may want to tighten their stops toward the $42.00 level. We're lowering our stop to break even at $42.40. Currently our target (the 50-dma) is at $39.75.
Picked on June 20 at $42.40
Sina.com - SINA - close: 27.05 change: -0.25 stop: 29.31
Another day, another decline for SINA. The stock is now down five days in a row and down eight out of the last nine sessions. We are encouraged by this relative weakness but are starting to suspect that SINA is due for an oversold bounce. Watch for the $28.00 level to act as overhead resistance. Our target is the $25.50-25.75 range.
Picked on June 30 at $27.90
Closed Long Plays
Closed Short Plays
Lear Corp - LEA - close: 38.77 chg: +2.27 stop: 38.51
Wow! LEA really responded strongly to an upgrade on Wednesday. KeyBanc upgraded LEA to a "buy". The analyst believes that the news that GM is extending its employee discount program for another month and Ford (F) and Chrysler are following suit with their own discount programs is good news for auto parts makers like LEA. The stock gapped higher to $38.25 and quickly traded through our stop loss at $38.51.
Picked on June 26 at $36.37