Long Play Updates
Argonaut Group - AGII - close: 35.55 chg: +0.27 stop: 33.90*new*
AGII is still creeping higher and touched its all-time high from early January today. We don't see any change from our previous strategy. Our short-term target is 38.00-38.50. We plan to exit ahead of its February earnings report. We are inching up our stop loss to $33.90.
Picked on January 29 at $35.20
Global Power Equip. - GEG - close: 4.74 chg: +0.01 stop: 4.09
The tug-of-war between the bulls and the bears continue in GEG. It looks like the bulls might win this one. Yesterday the stock dipped to $4.51 and bounced into the green. Today shares dipped to $4.60 and then bounced back into the green (okay, just barely). We remain bullish but more conservative traders may want to tighten their stop loss. We will target the simple 100-dma currently at 5.50 so we'll use a target zone of $5.40-5.60.
Picked on January 29 at $ 4.65
Helen of Troy - HELE - close: 19.16 chg: -0.19 stop: 17.99*new*
The upward momentum in HELE is stalling a bit. The stock may need to pull back and retest the 10-dma and 100-dma near 18.65. A bounce from the 10-dma could be used as a new bullish entry point. If the 10-dma fails then HELE could find some support near $18.00. We're going to tighten our stop loss to $17.99.
Picked on January 25 at $19.04
Mens Wearhouse - MW - close: 34.17 change: -0.21 stop: 31.85
MW is consolidating sideways above the $34 level but if the markets see much weakness tomorrow we'd expect MW to follow. The stock should have some support near $33.00 and then again near the 10-dma (32.65). Our target is the $36.00-37.00 range. We do not want to hold over the (unconfirmed) February 15th earnings report.
Picked on January 25 at $32.62
Nordic Am. Tankers - NAT - close: 32.06 chg: +0.01 stop: 29.95
We do not see any change from our previous updates on NAT. We still expect some resistance from the 100-dma (now at 33.07) but we suspect that NAT will eventually power through it. Do not forget that we only have a few days before we need to exit ahead of the February 7th earnings report and readers may not want to initiate new longs right here.
Picked on January 25 at $31.56
Patterson-UTI - PTEN - close: 37.62 chg: -0.23 stop: 34.85
Today oil service stocks hit some profit taking as crude oil futures pull back following the OPEC meeting. We don't see any change from our previous updates on PTEN. Our target is the $39.85-40.00 range.
Picked on January 17 at $36.85
Short Play Updates
Travelzoo - TZOO - close: 20.62 change: -0.33 stop: 22.05
Tomorrow is our last day to hold TZOO. We need to exit on Wednesday afternoon near the closing bell to avoid holding over the February 2nd earnings report. Fortunately, a downdraft in GOOG could pull the rest of the Internet sector, of which TZOO is a part of, lower.
Picked on January 22 at
Closed Long Plays
Closed Short Plays
Continental Air. - CAL - close: 20.91 change: +1.47 stop: 19.55
Ouch! Before the opening bell one analyst firm upgraded several stocks in the airline sector. CAL was upgraded among the group and the XAL airline index soared with a 1.95% gain. Shares of CAL, probably driven by short covering, added 7.5%. The bad news is that shares gapped open at $20.05, which is above our stop loss at $19.55. We are adjusting our exit price to 20.05.
Picked on January 29 at $18.49
Health Net - HNT - close: 49.37 chg: +0.63 stop: 50.05
Time is up. HNT traded sideways for most of the session then following the FOMC announce the stock sprang higher. Fortunately, the rally stalled under round-number resistance at the $50.00 mark. We are closing the play because time is up and HNT is due to report earnings tomorrow.
Picked on January 23 at $48.95
MedImmune - MEDI - close: 34.12 change: +0.86 stop: 34.51
We are choosing to exit early in MEDI. Our original play was to exit tomorrow afternoon to avoid holding over the February 2nd earnings report. However, shares of MEDI suddenly came to life following the FOMC announcement. The stock spiked higher on a flood of volume late in the day and MEDI is now challenging resistance near $34 and its multi-week trendline of resistance.
Picked on January 18 at $33.45