Long Play Updates
Burlington Coat - BCF - close: 40.70 chg: +1.06 stop: 38.90
BCF lives to see another day. The stock immediately spiked higher at the open and traded to last month's highs before paring its gains. The company reported that same-store sales rose 5.2% in November compared to a 3.9% rise a year ago. Our target is the $43.50-44.00 range by year-end.
Picked on October 24 at $38.90
CE Frankline Ltd - CFK - cls: 12.28 chg: +0.26 stop: 10.99
Oil and oil services stocks turned in a strong day and CFK continued to rebound. We don't see any changes from our previous update. 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.
Picked on November 16 at $11.98
Cree Inc. - CREE - close: 27.49 change: +0.66 stop: 24.89
An upgrade for semiconductor titan Intel (INTC) this morning helped fuel a massive rally in the semiconductor sector. The SOX index added 4.2%. Shares of CREE lagged behind with a 2.45% bounce back toward last week's highs. 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: 36.01 chg: +0.57 stop: 32.45
DHI bounced with the rest of the homebuilders but the stock remains inside its one-week consolidation pattern. We would wait for a move over $36.50 or a bounce from the $35 level before considering new longs. Our target for DHI is the $39.75-40.00 range.
Picked on November 21 at $35.85
eBay Inc. - EBAY - close: 44.96 change: +0.15 stop: 42.45
EBAY didn't make much progress today despite a 2.2% rally in the Internet stocks. Shares of EBAY traded inside a $1.50 trading range. Yesterday we suggested that a move over $45.50 could be used as a new entry point but unfortunately, the early strength this morning has failed. Watch the $44 and $46 levels as short-term support and resistance, respectively.
Picked on November 21 at $45.10
Corning Inc. - GLW - close: 20.39 chg: +0.14 stop: 19.89
GLW still looks vulnerable to more profit taking. We don't see any changes from our previous updates.
Picked on November 13 at $20.11
K-Swiss - KSWS - close: 32.12 chg: +0.95 stop: 30.89
Good news! The market's strength has given our KSWS another chance. The stock gapped open higher and rallied back above the $32 level and its simple 200-dma. While this looks like a new bullish entry point more conservative traders may want to wait for a move over yesterday's high (32.60) to avoid another head fake before initiating new longs. Our target is the $34.85-35.00 level.
Picked on November 29 at $32.09
VCA Antech - WOOF - close: 28.06 chg: +0.02 stop: 25.90
There is little change in shares of WOOF. That's probably a bad sign considering the widespread market rally. WOOF's technicals continue to turn sour and we can probably expect a dip in the short-term future. More conservative traders may want to tighten their stop losses. We are not suggesting new positions at this time.
Picked on November 09 at $26.74
Short Play Updates
Closed Long Plays
Csk Auto - CAO - close: 14.81 change: -0.69 stop: 15.19
This morning before the opening bell CAO reported that the company was buying Murray's Discount Auto while simultaneously lowering its earnings forecast. The result was a gap down for the stock, which opened at $15.15. The opening price was under our stop loss so we would have immediately exited! The breakdown under the 50-dma and the $15.00 level does not bode well for the share price.
Picked on November 02 at $15.58
Closed Short Plays