Long Play Updates
Dow Chemical - DOW - close: 44.67 change: +0.07 stop: 42.79
Yesterday's rally continued for shares of DOW this morning. The stock spiked to a high of $45.64. Unfortunately, that high did not last and shares of DOW fell back to earth painting a failed-rally pattern under its simple 21-dma. We suspect that the stock will see more profit taking tomorrow. Watch for a dip toward the $44.00 level. Readers can use a bounce from $44.00 as a new bullish entry point. Wait for the bounce.
on September 07 at $44.60
Ryerson Tull - RT - close: 21.37 change: +0.18 stop: 19.49 *
RT is still creeping higher. We see no changes from our previous update on Wednesday. Our target is the $23.50-24.00 range.
Picked on August 31 at $20.54
Radian Group - RDN - close: 51.16 chg: +0.06 stop: 49.99
Today didn't produce the sort of follow through we were expecting after yesterday's bounce from support but that doesn't change our outlook. As long as RDN remains over the $50.25 level we'll remain bullish and target the $54.00-54.25 range.
Picked on September 07 at $51.10
Short Play Updates
Anheuser Busch - BUD - cls: 44.94 chg: -0.15 stop: 46.25
There is no change from our previous updates on BUD. We're not suggesting new positions at this time. Our target is the $40.00 level before its October earnings report.
Picked on July 28 at $44.77
Intl Game Tech. - IGT - cls: 26.88 chg: -0.45 stop: 28.01
We see no change from our previous updates on IGT. We are not suggesting new positions at this time. Our target is the $24.50-24.00 range.
Picked on July 21 at $27.21
Royal Caribbean - RCL - cls: 42.07 chg: -0.38 stop: 44.11
No change from our previous updates on RCL. The stock is nearing our target in the $41.25-41.00 range.
Picked on July 27 at $45.50
Wal-Mart - WMT - close: 45.86 change: +0.00 stop: 46.55*new*
There was no change in shares of WMT today and there is no change from our previous updates on the stock. We still expect WMT to continue bouncing. The real test will be if WMT can breakout over the $46.50 level. Such a move would suggest that WMT will retest the $48.00 level. We're going to lower our stop loss to $46.55. We'd rather play it cautious here with WMT out performing the RLX retail index.
Picked on August 24 at $45.95
Yellow Roadway - YELL - close: 46.01 chg: -0.55 stop: 50.01
Good news! Just after the closing bell YELL issued an earnings warning for the third quarter. The stock was trading down near $43.50 in after hours markets. Our target is the $42.00-40.00 range and YELL could easily reach that level tomorrow. We suggest that our readers prepare to exit.
Picked on September 04 at $46.88
Yahoo! Inc. - YHOO - close: 33.34 change: -0.72 stop: 34.81
YHOO did indeed turn lower today, which appears to confirm yesterday's failed rally under the $34.25 region where its 50-dma and exponential 200-dma are found. We continue to suggest that readers wait for a move under $33.30 or today's low at $33.20 or the $33.00 level before initiating new bearish positions.
Picked on August 30 at
Closed Long Plays
Alexander & Baldwin - ALEX - cls: 50.32 chg: -0.48 stop: 49.90
There is still a chance that ALEX will bounce from round-number, psychological support at the $50.00 mark but today's decline under technical support at the simple 50-dma is enough for us. We're choosing to exit early here.
Picked on August 31 at $52.41
Uh-oh! Failure to breakout over the $28.25 level, where its 100-dma and exponential 200-dma have converged is troubling for SFD. Furthermore today's decline under the simple 10-dma doesn't help matters. The stock should still have support at $27.50 and again at $27.00 but we're going to be conservative and exit early to avoid any losses.
Picked on August 25 at $27.61
Closed Short Plays
Juniper Networks - JNPR - cls: 24.08 chg: +0.28 stop: 24.01
JNPR out performed the broader market and its peers in the networking sector on Thursday to breakout over resistance near the $24.00 level. We have been stopped out at $24.01.
on July 21 at $23.90