Long Play Updates
Burlington Coat - BCF - close: 40.11 chg: +0.15 stop: 37.45
BCF didn't see a lot of action today but the narrow trading range did have a bullish tilt to it. We see no changes from our previous updates. Our target is the $43.50-44.00 range.
Picked on October 24 at $38.90
Csk Auto - CAO - close: 15.26 change: -0.01 stop: 14.95
This could be a short-term turning point for CAO. The stock dipped toward support at the $15.00 level and managed to bounce all the way back to almost unchanged. The candlestick pattern looks like a hammer-type of bullish reversal. A move back over $15.50 might be consider a new bullish entry point. If you are considering a bullish position don't forget that we plan to exit ahead of CAO's early December earnings report.
Picked on November 02 at $15.58
Corning Inc. - GLW - close: 20.39 chg: +0.33 stop: 18.99
GLW displayed some relative strength today with shares closing near their highs for the session with volume rising into the close. This looks like a new bullish entry point. Our target is the $21.90-22.00 range. Our time frame is seven weeks.
Picked on November 13 at $20.11
Intel Corp. - INTC - close: 24.87 chg: -0.21 stop: 23.45
This looks like a new bullish entry point in INTC. We've been expecting a pull back toward the 10-dma near $24.60 and the stock bounced twice from that level during Wednesday's session. Our year-end target is the $26.00-26.50 range.
Picked on November 06 at $ 23.99
Komag - KOMG - close: 28.68 change: +0.86 stop: 26.99
Once again KOMG has rallied back toward short-term resistance at the $29.00 level and the stock looks poised to move higher. Our strategy involves a trigger to go long at $29.21. More conservative traders may want to use a trigger over the 50-dma or the $30.00 mark instead. If we are triggered we'll target a rise to the $34.00-35.00 range. Our time frame is seven weeks.
Picked on November xx at $xx.xx <-- see TRIGGER
Mentor Graphics - MENT - close: 8.60 chg: +0.03 stop: 8.49
Nimble traders may want to give up on waiting for a breakout in MENT and just trade the ups and downs inside the trading range. Currently our strategy is to buy a breakout over resistance at the $9.00 level. Our trigger to go long is at $9.05. If triggered we'll target a run into the $9.95-10.00 range.
Picked on October xx at $xx.xx <-- see Trigger
Patterson Companies - PDCO - cls: 41.87 chg: -0.23 stop: 39.99
Today's close under its 10-dma and the $42.00 level do not bode well for PDCO. Its MACD indicator is nearing a new sell signal. We do expect the stock to have some support near its 100-dma currently at 41.32 but more conservative traders may want to adjust their stop loss to just under the $41.00 mark - we're certainly thinking about doing the same thing. We're not suggesting new bullish positions here. Remember we plan to exit ahead of earnings near Thanksgiving. Our target is the $44.00 level.
Picked on October 30 at $40.85
VCA Antech - WOOF - close: 27.06 chg: +0.13 stop: 25.90
We still don't like the bearish action in WOOF's MACD indicator but so far the stock remains above support at the $26.00 level. We may still exit early if WOOF trades under $26.50.
Picked on November 09 at $26.74
Short Play Updates
Sanderson Farms - SAFM - close: 33.15 chg: +0.36 stop: 35.01
We see no changes from our previous updates on SAFM. The stock is still trending lower and nearing our target at the $32.00 mark. More aggressive traders may want to aim lower. We are not suggesting new positions.
Picked on October 23 at $35.17
Tecumseh Prod. - TECUA - close 19.58 chg: +0.08 stop: 20.55
We see no change from our previous update on TECUA. A failed rally under $20.00 could be used as a new bearish entry point but enter new positions carefully! Our target is the $16.00 mark.
Picked on November 09 at $18.96
Closed Long Plays
Closed Short Plays