Option Investor
Play Updates

In Play Updates and Reviews

HAVING TROUBLE PRINTING?
Printer friendly version

Long Play Updates

Mckesson - MCK - close: 47.48 chg: -0.24 stop: 44.85

MC's minor 24-cent loss still looks like a show of relative strength to us. However, with the major averages looking weak we would expect MCK to pull back. The $46.50-46.00 range should act as support. Our target is the $49.75-50.00 range. We will plan to exit ahead of MCK's early November earnings report.

Picked on September 18 at $46.47
Change since picked: + 1.01
Earnings Date 11/08/05 (unconfirmed)
Average Daily Volume: 1.5 million

---

Motorola - MOT - close: 22.32 change: -0.12 stop: 21.78

Widespread weakness in the technology sector weighed on MOT. The stock's early morning advance failed near $22.75. Now shares look poised to retest support near the $22.00 level. We're quickly running out of time so more conservative traders may want to be thinking about their exit and minimizing any losses.

Picked on September 25 at $22.79
Change since picked: - 0.47
Earnings Date 10/10/05 (unconfirmed)
Average Daily Volume: 19.2 million
 

Short Play Updates

Anheuser Busch - BUD - cls: 42.33 chg: -0.17 stop: 44.77

Another day, another decline for BUD. The stock looks short-term oversold. We're still suggesting that more conservative traders think about taking some money off the table here.

Picked on July 28 at $44.77
Change since picked: - 2.44
Earnings Date 10/26/05 (confirmed)
Average Daily Volume: 2.3 million

---

Career Educ. - CECO - close: 35.17 chg: -0.72 stop: 37.51

The good news here is that CECO has fallen under support near $35.25 and the stock lost two percent today. The bad news is that CECO rebounded higher from its intraday dip under the $35.00 level. Our trigger to short the stock was at $34.99 so the play is now open. Considering the weakness in CECO and the broader market we're not that worried about the late day bounce back above $35.00. However, if you're looking for a new entry point we'd probably wait for a new relative low under 34.93 (today's low). Our target is the $31.00 level. Remember, our biggest risk is a short squeeze due to CECO's high short interest.

Picked on October 04 at $34.99
Change since picked: + 0.18
Earnings Date 10/26/05 (unconfirmed)
Average Daily Volume: 1.6 million

---

Cogent Inc. - COGT - close: 24.59 chg: -0.55 stop: 26.01*new*

Today's decline under $25.00 looks like a new bearish entry point in COGT. We are going to lower the stop loss to $26.01. Our target is the $22.50-22.00 range.

Picked on September 22 at $25.21
Change since picked: - 0.62
Earnings Date 10/25/05 (unconfirmed)
Average Daily Volume: 874 thousand

---

Cost Plus - CPWM - close: 17.70 change: -0.36 stop: 19.78*new*

Retail stocks continued to sink today as the RLX index lost 0.8%. Shares of CPWM under performed its peers with a 1.99% decline to a new multi-year low. Our target is the $16.50-16.00 range but more conservative traders may want to seriously think about taking some money off the table. We are lowering the stop loss to breakeven at $19.78.

Picked on September 20 at $19.78
Change since picked: - 2.08
Earnings Date 11/17/05 (unconfirmed)
Average Daily Volume: 390 thousand

---

Enzo Biochem - ENZ - close: 14.86 chg: +0.09 stop: 15.51

ENZ continues to show volatility. The stock rallied (again) to the $15.30 region but failed to hold its gains. We would continue to suggest bearish positions with the stock under $15.00 but more conservative traders may want to wait for another decline under $14.50 (or even 14.36) before initiating positions. Don't forget that we have a very brief time frame for this play to work for us as we plan to exit ahead of the October 14th earnings report.

Picked on October 03 at $14.36
Change since picked: + 0.50
Earnings Date 10/14/05 (unconfirmed)
Average Daily Volume: 90 thousand

---

99c Only Stores - NDN - close: 9.32 chg: -0.35 stop: 10.01

NDN is another casualty to the weakness in retailers. The stock really under performed its peers with a 3.6% decline. This looks like a new bearish entry point but keep in mind our target is the $8.60-8.50 range.

Picked on September 27 at $ 9.40
Change since picked: - 0.08
Earnings Date 10/20/05 (unconfirmed)
Average Daily Volume: 581 thousand

---

Nautilus Inc. - NLS - close: 21.67 chg: -0.40 stop: 23.80*new*

Good news! The market weakness today helped pull NLS under support near the $22.00 level. Shares closed with a 1.8% loss and at a new seven-month low. This decline "should" begin the next leg lower but nothing is guaranteed. We're lowering our stop loss to breakeven at $23.80. More conservative traders may want to think about a tighter stop or think about exiting early for a profit. Our target is the $20.50-20.00 range.

Picked on September 14 at $23.80
Change since picked: - 2.13
Earnings Date 10/25/05 (unconfirmed)
Average Daily Volume: 363 thousand
 

Closed Long Plays

None
 

Closed Short Plays

None
 

Premier Investor Play Update Archives