Long Play Updates
Cameco - CCJ - close: 47.04 chg: +1.28 stop: 43.90
CCJ showed a lot of relative strength today with a 2.79 percent rebound. If the current pattern continues we could see CCJ hit our target by the end of the week. It just depends on how CCJ reacts to further weakness in the broader market. Our target is the $49.50-50.00 range.
Picked on June 27 at $44.14
Home Depot - HD - close: 42.45 chg: +0.84 stop: 38.75
Hmm... HD is showing a lot of strength here. We may have to adjust our strategy. Currently we're suggesting readers buy a dip into the $40.85-40.50 range. We're not going to adjust that entry point just yet. The major averages look poised for more weakness so we want to wait and see if and when HD turns lower.
Picked on July xx at $xx.xx <-- see TRIGGER
Short Play Updates
ATI Tech. - ATYT - close: 12.86 change: +0.03 stop: 13.41
Tomorrow's the big day. Wall Street is waiting to hear from Intel and the chip giant reports tomorrow after the closing bell. We suspect that with the SOX semiconductor index already overbought and extended that investors will simply sell the news no matter what INTC reports tomorrow. That's good for us since ATYT is already looking weak. Our target for ATYT is the $11.50-11.20 range.
Picked on July 17 at $21.83
Par Pharma. - PRX - close: 29.48 chg: -0.41 stop: 32.01
The good news here is that the rebound from Friday's low has already failed. PRX looks poised to breakdown past its May low. Our target is the $27.00-26.50 range.
Picked on July 14 at $29.96
Sina.com - SINA - close: 27.20 change: +0.09 stop: 29.01
No change from our weekend update.
Picked on June 30 at $27.90
Closed Long Plays
Closed Short Plays