Option Investor
Play Updates

In Play Updates and Reviews

HAVING TROUBLE PRINTING?
Printer friendly version

Long Play Updates

ANSYS Inc. - ANSS - close: 41.65 change: -0.40 stop: 40.89

ANSS tested the bottom of its four-week trading range in the $40.80-40.90 region today. The stock did manage a decent bounce from its lows but where it goes from here is unclear. The larger, big picture forecast for ANSS is still bullish. We are suggesting a trigger at $44.05 to open the play. If triggered we'll target a move into the $49-50 range by the end of January. The Point & Figure chart currently points to a $60 target.

Picked on December xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 02/02/06 (unconfirmed)
Average Daily Volume: 153 thousand

---

Anglogold - AU - close: 47.15 change: +1.17 stop: 41.95

Thursday's gains were a duplicate of Wednesday's gains for AU. The stock added another 2.5% on strong volume to hit new one-year highs. We would not chase the stock right here. Wait for a dip if you're looking for an entry point. Our target is the $49.50-50.00 range.

Picked on December 06 at $44.81
Change since picked: + 2.34
Earnings Date 01/27/06 (unconfirmed)
Average Daily Volume: 904 thousand

---

Burlington Coat - BCF - close: 41.46 chg: +0.23 stop: 38.90

It was another quiet day for BCF and volume came in very low. We are not suggesting new plays at this time. Our year-end target is the $43.50 level.

Picked on October 24 at $38.90
Change since picked: + 2.56
Earnings Date 01/04/06 (unconfirmed)
Average Daily Volume: 165 thousand

---

CE Frankline Ltd - CFK - cls: 14.39 chg: +0.64 stop: 11.98 *new*

The oil rally was strongest in the oil service stocks. The OSX oil services index added 3.4%. Shares of CFK added another 4.65% on decent volume. The breakout over the $14 level is good news and another positive day tomorrow could put CFK in our target $14.75-15.00 range. More conservative traders may want to strongly consider exiting right here. CFK is up +20% from our picked price. We're raising our stop loss to $11.98.

Picked on November 16 at $11.98
Change since picked: + 2.41
Earnings Date 10/27/05 (confirmed)
Average Daily Volume: 150 thousand

---

CenturyTel Inc. - CTL - close: 32.36 change: -0.77 stop: 32.39

Uh-oh. This could be bad news for CTL. The stock lost 2.3% and is apparently breaking down from its consolidation under the 200-dma. We remain on the sidelines and don't see any change from our previous update on CTL. Our strategy is to go long on a breakout over resistance at the 200-dma and the $33.50 level. Our trigger to buy the stock is at $33.55. If triggered we'll target a run to $36.00 before its January earnings report. The Point & Figure chart points to a $49 target.

Picked on December xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 01/26/06 (unconfirmed)
Average Daily Volume: 855 thousand

---

D.R.Horton - DHI - close: 35.81 chg: +0.75 stop: 33.75

DHI dipped toward technical support at its 200-dma this morning but quickly rebounded. The homebuilding sector rallied on a strong earnings report from Toll Brothers (TOL). Oddly enough the market seemed to ignore TOL's lackluster (some would say bearish) forecast for homebuilding in 2006. The rebound in DHI looks like a new bullish entry point but we would be careful. You might want to raise your stop toward today's lows or wait for a move over $36.50 before initiating longs. Our target for DHI is the $39.75-40.00 range.

Picked on November 21 at $35.85
Change since picked: - 0.04
Earnings Date 11/16/05 (confirmed)
Average Daily Volume: 3.2 million

---

Forest Oil - FST - close: 48.78 change: +1.63 stop: 42.75

A bullish breakout in crude oil over $60 a barrel sparked some strong moves in the sector. FST added 3.45% and looks poised to challenge round-number resistance at the $50 mark. Our target is the $52.50-53.00 range. We do not want to hold over FST's February earnings report.

Picked on December 02 at $47.01
Change since picked: + 1.77
Earnings Date 02/09/06 (unconfirmed)
Average Daily Volume: 1.1 million

---

Corning Inc. - GLW - close: 21.12 chg: +0.17 stop: 19.99

We do not see any changes from our previous updates on GLW. We are not suggesting new positions. Our target is the $21.90-22.00 range.

Picked on November 13 at $20.11
Change since picked: + 1.01
Earnings Date 01/25/06 (unconfirmed)
Average Daily Volume: 11.8 million

---

Grant Prideco - GRP - close: 45.70 chg: +1.97 stop: 39.49

GRP is another beneficiary of the oil rally today. The stock added 4.5% on very strong volume. The breakout over the $45 mark is good news and shares are nearing our target in the $46.00-47.00 range. More conservative traders may want to exit right here since GRP is looking short-term overbought. We are not suggesting new positions.

Picked on December 02 at $41.80
Change since picked: + 3.90
Earnings Date 01/25/06 (unconfirmed)
Average Daily Volume: 1.5 million

---

K-Swiss - KSWS - close: 32.77 chg: +0.61 stop: 30.89

KSWS displayed some relative strength today and the move only confirms the current trend of higher lows. Until the trend changes we'll keep the play open but keep your stops tight. More conservative traders could probably tighten their stops toward $31.25. Our target is the $34.85-35.00 range.

Picked on November 29 at $32.09
Change since picked: + 0.68
Earnings Date 01/26/06 (unconfirmed)
Average Daily Volume: 256 thousand

---

Levitt - LEV - close: 22.74 chg: +0.04 stop: 20.95

LEV dipped to the simple 10-dma today and bounced. This could be used as a new bullish entry point. What makes us cautious is the outlook for the major averages, which look poised for more weakness. Our target is the $24.90-25.00 range. We do not want to hold over the February earnings report.

Picked on December 01 at $22.27
Change since picked: + 0.47
Earnings Date 02/02/06 (unconfirmed)
Average Daily Volume: 161 thousand

---

VCA Antech - WOOF - close: 27.78 chg: +0.06 stop: 25.90

We see no changes from our previous updates on WOOF. The stock dipped to $27.25 and rebounded back to almost unchanged. We would not suggest new positions at this time. Our target is the $29.90-30.00 range.

Picked on November 09 at $26.74
Change since picked: + 1.04
Earnings Date 01/24/06 (unconfirmed)
Average Daily Volume: 436 thousand
 

Short Play Updates

NeuroMetrix - NURO - close: 30.60 chg: +0.20 stop: 34.01

NURO spent most of the session drifting back toward the $30.00 level until a very late day rebound pushed the stock back into the green. Watch for a failed rally at the 10-dma (near 31.68) or the $32.00 level as an aggressive entry point to launch new shorts. For the average trader we'd wait for another decline under $30.00 or the $29.50 level before trying to launch short positions. The P&F chart looks very bearish and points to a $20.00 target. Our target is a decline into the $22.75-22.00 range above its simple 200-dma. We do not want to hold over the late January earnings report.

Picked on December 06 at $29.59
Change since picked: + 1.01
Earnings Date 01/27/06 (unconfirmed)
Average Daily Volume: 210 thousand
 

Closed Long Plays

Cree Inc. - CREE - close: 26.34 change: -0.31 stop: 25.95

The SOX semiconductor index was very weak today. The semis sold off despite positive news from TXI and MU. Shares of CREE dipped toward support near $26.00 like we thought it might. Unfortunately, CREE dipped a bit too low and hit 25.88. Our stop loss was $25.95.

Picked on November 20 at $26.89
Change since picked: - 0.55
Earnings Date 01/19/06 (unconfirmed)
Average Daily Volume: 1.2 million
 

Closed Short Plays

None
 

Premier Investor Play Update Archives