Long Play Updates
Network Appl. - NTAP - close: 25.98 change: -0.27 stop: 22.99
We have been expecting some profit taking in NTAP and witnessed some today due to the market-wide sell-off. The question now is whether or not the major averages will produce any follow through on today's bearish session or whipsaw higher again. We are not going to suggest new positions in NTAP at this time. Our target is the $29.00-30.00 range.
Picked on October 16 at $25.12
Short Play Updates
Corning Inc. - GLW - close: 18.25 chg: -0.13 stop: 19.25*new*
The rally past the $18.60 level and its 21-dma didn't last. We're going to keep the bearish play in GLW open since the major stock averages look vulnerable to more selling pressure. We are not suggesting new positions at this time. We are adjusting the stop loss to $19.25.
Picked on October 09 at $18.54
Trinity Ind. - TRN - close: 35.99 chg: -0.51 stop: 38.26
We see no changes from Wednesday's update on TRN. We're not suggesting new plays at this time. Our target is the $32.50-32.00 range.
Picked on October 11 at $36.88
Closed Long Plays
Closed Short Plays
Abercrombie & Fitch - ANF - cls: 49.42 chg: +1.12 stop: 50.01
The markets cooperated today but ANF did not. The stock got an upgrade this morning before the open. This caused the stock to gap higher and then trade over the $50.00 mark hitting our stop loss at $50.01. We really don't expect this gain to stick so traders may want to keep an eye on ANF for a drop under $48.00 as a new bearish entry point.
Picked on October 18 at $47.18