Long Play Updates
Burlington Coat - BCF - close: 39.64 chg: -0.26 stop: 38.90
BCF continued to decline in what was probably some month-end profit taking. The short-term future for BCF may be a struggle since the RLX retail index's daily chart just produced a sell signal with its MACD indicator. BCF has also produced a sell signal with its MACD. We are not suggesting new plays at this time. We suggested a potential exit if BCF didn't rebound today and it didn't. However, we want to give the stock one more day just in case this was some month-end selling and if we don't see some green tomorrow we'll bail out!
Picked on October 24 at $38.90
Csk Auto - CAO - close: 15.50 change: +0.06 stop: 15.19
There is little change in shares of CAO today and we see no change from our previous updates. We plan to exit on Friday at the close to avoid holding over the company's earnings report on Monday.
Picked on November 02 at $15.58
CE Frankline Ltd - CFK - cls: 12.02 chg: +0.30 stop: 10.99 *new*
CFK displayed some surprising relative strength today. The stock added 2.55% to rebound back above the $12.00 mark. The move over $12.00 looks like a new bullish entry point. Our target is the $14.75-15.00 range over the next several weeks. More conservative traders may want to adjust their stops toward the $11.45 region. We're raising our stop loss to $10.99.
Picked on November 16 at $11.98
Cree Inc. - CREE - close: 26.83 change: -0.00 stop: 24.89
Semiconductor stocks were a pocket of strength today in the technology sectors but CREE failed to capitalize on that relative strength. The stock did manage to rebound from its lows to close unchanged. A move over the $27.20-27.25 region could be used as a new bullish entry point. Our target will be the $30.00-31.00 range.
Picked on November 20 at $26.89
D.R.Horton - DHI - close: 35.44 chg: -0.06 stop: 32.45
It was a quiet session for DHI. The stock is still consolidating its November gains and looks poised to test the $35 level. Our target for DHI is the $39.75-40.00 range.
Picked on November 21 at $35.85
eBay Inc. - EBAY - close: 44.81 change: +0.31 stop: 42.45
Internet stocks were a mixed bag today. Yahoo (YHOO) got its second downgrade in a week. GOOG rebounded from the $400 level. EBAY had one analyst reiterate their out perform rating. Shares of EBAY did manage a bounce from the $44 region but we hesitate to initiate new longs with the major averages still looking vulnerable to profit taking. We'd probably wait for a move over $45.50 before considering new longs in EBAY at this time.
November 21 at $45.10
Corning Inc. - GLW - close: 20.25 chg: -0.05 stop: 19.89
Traders need to be defensive here. More and more GLW's technicals are deteriorating. The stock should have support at the $20 level but there's obviously no guarantee that level will hold. Today's decline wasn't very big but it didn't help that a Barron's article highlighted some insider selling in GLW this past month. More conservative traders may want to exit right here to protect their capital. You can always re-enter should GLW bounce from the $20 level.
Picked on November 13 at $20.11
K-Swiss - KSWS - close: 31.23 chg: -0.86 stop: 30.89
Gosh, we are just not having any luck with stocks that begin with "K" today. There was a little bit of upward follow through on KSWS' breakout from yesterday. Then suddenly, after reaching $32.60, which was enough to breakout over the mid-November highs, shares of KSWS began to decline. Then the decline began to pick up momentum and volume came in pretty heavy, well above its daily average. This does not bode well for the bulls. The high-volume reversal today suggests that Tuesday was a bull trap and that we'll see more weakness tomorrow! We're not suggesting new plays.
Picked on November 29 at $32.09
VCA Antech - WOOF - close: 28.04 chg: -0.12 stop: 25.90
It was a quiet day for WOOF. The stock traded sideways the entire session. Unfortunately, like the major averages, WOOF looks poised for a consolidation lower. The MACD is very close to a new sell signal. We are not suggesting new positions at this time.
Picked on November 09 at $26.74
Short Play Updates
Closed Long Plays
Kraft Foods - KFT - close: 28.94 chg: -0.83 stop: 28.89
We're exiting early. The action in KFT was very, very odd. The stock started the session weak and just seemed to pick up speed as it declined on very strong volume. Shares blew through potential support at the $29.50 level, the 50-dma and the $29.00 mark. There was no news or comments that we could find to account for the sudden weakness.
Picked on November 23 at
Closed Short Plays