Long Play Updates
Burlington Coat - BCF - close: 40.90 chg: +0.75 stop: 37.45
BCF is making upward progress with today's 1.8% gain on above average volume. Big volume on the move suggest more strength ahead. Our target is the $43.50-44.00 range.
Picked on October 24 at $38.90
Csk Auto - CAO - close: 15.84 change: -0.06 stop: 14.95
Unfortunately, the rally in CAO has stalled under the $16 level and its exponential 200-dma. We have a limited time frame with CAO before its earnings report so we're not suggesting new positions. An alternative bullish candidate in this sector is ORLY, where traders could use a trigger over resistance at $31.00 as an entry point, or AAP, which has broken out over resistance at its 100-dma two days ago. We'd look for a dip back toward $41 in AAP as an entry point.
Picked on November 02 at $15.58
CE Frankline Ltd - CFK - close: 12.47 chg: +0.07 stop: 9.99
It was a quiet session for CFK. The stock appears to be struggling a bit under its early October highs. However, if the oil sector continues higher we expect CFK to breakout. Our target is going to be the $14.75-15.00 range over the next eight weeks. We are suggesting a stop loss at $9.99 but more conservative traders might want to consider something tighter.
Picked on November 16 at $11.98
Cree Inc. - CREE - close: 27.26 change: +0.64 stop: 24.89
Micron (MU) got an upgrade today that fueled a rally in the semiconductor sector. Shares of CREE added 2.4% to close at a new three-month high. Our target will be the $30.00-31.00 range.
Picked on November 20 at $26.89
D.R.Horton - DHI - close: 36.89 chg: +0.75 stop: 32.45
DHI spent the first part of the session churning sideways. Then late in the afternoon the stock experienced a sharp spike higher on a surge of volume. Our target is the $39.75-40.00 range.
Picked on November 21 at $35.85
eBay Inc. - EBAY - close: 46.75 change: +0.56 stop: 42.45
EBAY added another 1.2% following yesterday's breakout over significant resistance at the $45.00 mark. We see no other changes from our previous updates. Our target is the $49.90-50.00 range.
Picked on November 21 at $45.10
Corning Inc. - GLW - close: 21.02 chg: +0.12 stop: 18.99
It's not very convincing but GLW has technically broken out over resistance at the $21.00 mark. We are not suggesting new plays at this time. Our target is the $21.90-22.00 range.
Picked on November 13 at $20.11
Gamestop Corp. - GME - close: 36.58 chg: -1.22 stop: 34.99
Hmm... was this a "sell the news" type of reaction? The bad news for us today is that GME spiked above resistance at the $38.00 level near the open and hit our trigger to go long at $38.05 before falling back under resistance. The stock dipped to $36.00 before bouncing higher this afternoon. Volume was pretty strong today. We would not suggest new positions here. Wait for a move over $38.00 or even today's high at $38.19 before considering new longs. If you were triggered with us on this morning's spike then more conservative traders may want to tighten their stops toward the $36 level. We're trying to catch a short squeeze and we don't think that's going to happen until GME trades to a new high. We plan to exit on the afternoon/closing bell for Monday, November 28th to avoid the company's earnings report.
Picked on November 22 at $38.05
Mentor Graphics - MENT - close: 8.83 chg: -0.07 stop: 8.49
We see no change from our weekend update. MENT remains stuck inside its four-month trading range between $7.85 and $9.00. We suspect that if the market's produce their seasonally bullish year-end rally that MENT can breakout to the upside from this consolidation. Our strategy involves a trigger to go long the stock at $9.05. If triggered we'll target a run into the $9.95-10.00 range.
on October xx at $xx.xx <-- see Trigger
VCA Antech - WOOF - close: 27.95 chg: -0.15 stop: 25.90
The rally in WOOF stalled a bit today but shares closed near all-time highs. We're not suggesting new positions at this time. Our target is the $29.90-30.00 range. More conservative traders may want to tighten their stops.
Picked on November 09 at $26.74
Short Play Updates
Closed Long Plays
Intel Corp. - INTC - close: 26.16 chg: +0.91 stop: 23.45
Target achieved. Intel helped lead the semiconductor rally today with a 3.6% rally of its own. The stock hit our target in the $26.00-26.50 range. More aggressive traders may want to think about keeping the play open and riding the stock into the second half of December.
Picked on November 06 at $ 23.99
Komag - KOMG - close: 33.35 change: +2.16 stop: 26.99
Target achieved. The DDX disk drive sector index turned in another strong performance lead by shares of KOMG, which closed with a 6.9% gain on big volume. Our target was the $34.00-35.00 range and KOMG hit $34.17 this afternoon.
Picked on November 17 at $29.21
Verifone Holdings - PAY - close: 23.35 chg: -0.44 stop: 21.95
There has been no follow through on PAY's bullish reversal on Friday and today's relative weakness is a good reason to bail out early. We're going to close the play right here and cut our losses. We may reconsider new longs on another bounce from $22 or a move over $24.
Picked on November 17 at $23.67
Closed Short Plays