Option Investor
Play Updates

In Play Updates and Reviews

HAVING TROUBLE PRINTING?
Printer friendly version

Long Play Updates

ANSYS Inc. - ANSS - close: 41.88 change: -1.35 stop: 40.89

ANSS continues to display volatility as it consolidates sideways under resistance at the $44.00 level. The big picture for ANSS is bullish and its P&F chart points to a $60 target. 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.

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: 46.93 change: +0.23 stop: 41.95

A big spike higher in the gold commodity helped many gold stocks, like AU, gap higher on Monday morning. The equity rally stalled and shares of AU drifted lower to effectively "fill the gap". Where AU goes from here is the question. Short-term the daily chart looks overbought and due for a dip but if gold keeps climbing then the stock is likely to follow. Our target is the $49.50-50.00 range.

Picked on December 06 at $44.81
Change since picked: + 2.12
Earnings Date 01/27/06 (unconfirmed)
Average Daily Volume: 904 thousand

---

Burlington Coat - BCF - close: 41.21 chg: -0.10 stop: 38.90

We didn't expect the market to do much ahead of the FOMC meeting tomorrow. BCF appears to have taken this to heart. The stock has traded sideways now for the sixth day in a row. We are not suggesting new positions and more conservative traders may want to exit right here! Our year-end target is the $43.50 level.

Picked on October 24 at $38.90
Change since picked: + 2.31
Earnings Date 01/04/06 (unconfirmed)
Average Daily Volume: 165 thousand

---

CE Frankline Ltd - CFK - cls: 14.12 chg: +0.43 stop: 11.98

Another strong day for crude oil and oil stocks in general helped push CFK to a 3% gain. The stock failed to produce any follow through on Friday's bearish engulfing candlestick but we don't believe the bulls are out of the woods just yet. Today's session would be considered an "inside day". Conservative traders should strongly consider exiting here for a gain. We are not suggesting new positions.

Picked on November 16 at $11.98
Change since picked: + 2.14
Earnings Date 10/27/05 (confirmed)
Average Daily Volume: 150 thousand

---

CenturyTel Inc. - CTL - close: 33.61 change: +0.56 stop: 32.39

CTL has been triggered. Friday's rebound continued into Monday and the stock broke through significant resistance at the simple and exponential 200-dma's and the $33.50 level. Our trigger to go long the stock was at $33.55. Now that the play is open we are targeting a run to the $36.00 mark before CTL's January earnings report. FYI: the P&F chart for CTL points to a $49 target.

Picked on December 12 at $33.55
Change since picked: + 0.06
Earnings Date 01/26/06 (unconfirmed)
Average Daily Volume: 855 thousand

---

D.R.Horton - DHI - close: 36.09 chg: +0.65 stop: 33.75

DHI turned in a strong session with a 1.8% gain. Short-term technical oscillators continue to improve following last Thursday's intraday bullish reversal. DHI is currently testing resistance at its two-week trendline of lower highs, which also coincides with what looks like the top of a bull flag pattern. We'd wait for a move over $36.50 before considering new longs. Our target for DHI is the $39.75-40.00 range.

Picked on November 21 at $35.85
Change since picked: + 0.24
Earnings Date 11/16/05 (confirmed)
Average Daily Volume: 3.2 million

---

Forest Oil - FST - close: 48.50 change: +0.30 stop: 44.49

FST added another 0.6% following today's rally in the oil stocks. We don't see any change from our weekend update. If you're looking for a new bullish entry point we'd probably watch for a dip back toward the $47.50 region. 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: + 1.49
Earnings Date 02/09/06 (unconfirmed)
Average Daily Volume: 1.1 million

---

Corning Inc. - GLW - close: 21.39 chg: +0.23 stop: 19.99

GLW showed some strength today with an intraday bounce from the $21.00 level. The stock looks poised to make a run at the $22 region. Our target is the $21.90-22.00 range.

Picked on November 13 at $20.11
Change since picked: + 1.28
Earnings Date 01/25/06 (unconfirmed)
Average Daily Volume: 11.8 million

---

K-Swiss - KSWS - close: 32.56 chg: -0.67 stop: 31.45

KSWS is struggling to maintain any sort of follow through. Friday's breakout has been reversed by today's decline. Furthermore today's session almost produced a new bearish engulfing candlestick. We are not suggesting new positions even though the stock has not broken its bullish trend of higher lows. More conservative traders may want to tighten their stop s even further. Our target is the $34.85-35.00 range.

Picked on November 29 at $32.09
Change since picked: + 0.47
Earnings Date 01/26/06 (unconfirmed)
Average Daily Volume: 256 thousand

---

Levitt - LEV - close: 22.96 chg: -0.02 stop: 20.95

LEV spent the whole session consolidating sideways. We don't see any change from our weekend update. More conservative traders may want to tighten their stops. 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: + 0.69
Earnings Date 02/02/06 (unconfirmed)
Average Daily Volume: 161 thousand

---

Nautilus - NLS - close: 18.45 change: -0.36 stop: 17.89

NLS is not off to the best start. There was no follow through higher on Friday's rally. Furthermore a look at the intraday chart shows that volume really started rising during today's late afternoon pull back and that's bearish! The overall pattern hasn't changed but more conservative traders may want to wait for NLS to trade over $19.00 before considering new long positions. A strong bounce from the $18.00 level could be used as an alternative entry point. We've tried to limit our risk with a tight stop under Thursday's low. We are going to target a rally to $21.50, which is just under a 38.2% Fibonacci retracement of its five-month decline. We will not hold over the February earnings report.

Picked on December 11 at $18.81
Change since picked: - 0.36
Earnings Date 02/01/06 (unconfirmed)
Average Daily Volume: 598 thousand

---

VCA Antech - WOOF - close: 27.90 chg: -0.16 stop: 25.90

We don't see any change from our weekend update on WOOF. If there is any good news it is the afternoon rebound from the $27.50 level today. We would not suggest new positions here but more aggressive players might consider it. Our target is the $29.90-30.00 range.

Picked on November 09 at $26.74
Change since picked: + 1.16
Earnings Date 01/24/06 (unconfirmed)
Average Daily Volume: 436 thousand
 

Short Play Updates

NeuroMetrix - NURO - close: 30.16 chg: -0.20 stop: 34.01

NURO did dip under the $30.00 level on an intraday basis and the stock remains under the simple 10-dma. However, we hesitate to initiate new positions right here. A move under $29.60 or a failed rally under the 50-dma could be used as a new bearish entry point to short the stock. 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: + 0.57
Earnings Date 01/27/06 (unconfirmed)
Average Daily Volume: 210 thousand
 

Closed Long Plays

Grant Prideco - GRP - close: 46.82 chg: +1.22 stop: 39.49

Target achieved. GRP continues to display amazing relative strength and another bullish day for oil just added more fuel to the fire. The stock added another 2.67% and traded into our $46.00-47.00 target range.

Picked on December 02 at $41.80
Change since picked: + 5.02
Earnings Date 01/25/06 (unconfirmed)
Average Daily Volume: 1.5 million
 

Closed Short Plays

None
 

Premier Investor Play Update Archives