Long Play Updates
Mckesson - MCK - close: 46.38 chg: -1.10 stop: 44.85
MCK was not exempt from the market-wide sell-off today. Shares lost 2.3% on relatively heavy volume. The stock did manage to stall its descent above its simple 50-dma. Watch for a bounce from the $46.00 level. If MCK fails at $46 then we'll probably be looking for the exits.
Picked on September 18 at $46.47
Short Play Updates
Phazar Corp - ANTP - close: 14.35 chg: -1.25 stop: 16.51*new*
ANTP is off to a good start today with an eight-percent decline on very heavy volume. More importantly the stock has broken through what could have been potential support in the $15.25-15.00 region. We are lowering our stop loss to $16.51. The $15.00 level should now act as overhead resistance. Our target is the $12.50-12.00 range.
Picked on October 04 at $15.60
Anheuser Busch - BUD - cls: 41.80 chg: -0.53 stop: 44.01*new*
We see no change from our previous update. BUD hit a new low today and we'd still suggest readers consider exiting early (here) for a profit. Our late October target is the $40.25 mark. We are lowering the stop loss to $44.01.
Picked on July 28 at $44.77
Career Educ. - CECO - close: 34.17 chg: -1.02 stop: 37.01*new*
All systems are a go! CECO did produce a strong follow through to yesterday's breakdown. The stock lost 2.89% on average volume. We are lowering our stop loss to $37.01. Our target is the $31.00 level.
Picked on October 04 at $34.99
Cogent Inc. - COGT - close: 23.55 chg: -1.04 stop: 26.01
We see no change from yesterday's update. COGT fell under the $24.00 level, which remained strong resistance for the rest of the session (see an intraday chart). Our target is the $22.50-22.00 range.
Picked on September 22 at $25.21
Cost Plus - CPWM - close: 16.93 change: -0.77 stop: 19.26*new*
The sell-off in shares of CPWM is picking up speed. The stock lost 4.3% today on very big volume (about three times the daily average). Readers can choose to exit right here if they want. Our target is the $16.50-16.00 range. We're lowering the stop loss to $19.26.
Picked on September 20 at $19.78
Enzo Biochem - ENZ - close: 13.82 chg: -1.04 stop: 15.26 *new*
ENZ's 7% decline today appears to have consummated the breakdown of its head-and-shoulders neckline. We are lowering the stop loss to $15.26. Our target is the $12.25-12.00 range. Remember, we plan to exit ahead of the October 14th earnings report.
Picked on October 03 at $14.36
99c Only Stores - NDN - close: 9.07 chg: -0.25 stop: 10.01
NDN continues to under perform the market and the retail sector. Today the stock lost 2.68% and is nearing support near the $9.00 level. Our target is the $8.60-8.50 range.
Picked on September 27 at $ 9.40
Nautilus Inc. - NLS - close: 21.30 chg: -0.37 stop: 23.80
We see no change from yesterday's update. NLS lost another 1.7% today. More conservative traders may want to think about exiting here to lock in profits. Our target is the $20.50-20.00 range.
Picked on September 14 at $23.80
Toll Brothers - TOL - close: 40.48 chg: -0.92 stop: 44.55
The homebuilders continued to sink on inflation fears. The DJUSHB index lost 3.25%. Shares of TOL fell 2.2% and traded under the $40.00 level intraday. Our trigger to short the stock was at $40.95 so the play is now open. Our target is the $36.50-36.00 range.
Picked on October 05 at $40.95
Closed Long Plays
Motorola - MOT - close: 22.00 change: -0.32 stop: 21.78
MOT is a casualty of the market wide weakness on Wednesday. Shares dipped intraday under support at the $22.00 level and its rising, simple 50-dma. We have been stopped out at $21.78. However, we'll be sure to keep an eye on MOT for another entry point. A move over $22.75 could be a new bullish entry point or we could always look for a bounce from the $20 region.
Picked on September 25 at $22.79
Closed Short Plays