Long Play Updates
Argonaut Group - AGII - close: 35.50 chg: -0.05 stop: 33.90
We don't see any change from our previous updates on AGII. Our short-term target is 38.00-38.50. We plan to exit ahead of its February earnings report.
Picked on January 29 at $35.20
Global Power Equip. - GEG - cls: 5.15 chg: +0.41 stop: 4.59*new*
The bulls are running in shares of GEG or at least they've got the bears on the run and they are covering shorts. GEG has broken out from its trading range and now it has broken out above round-number resistance at the $5.00 mark. Our target is the simple 100-dma, currently near $5.50, but we've been using a target zone to exit in the $5.40-5.60 range. We won't hesitate to jump out at $5.40. More conservative traders might want to take some profits right here with GEG up more than 10% from our picked price. We are raising the stop loss to $4.59.
on January 29 at $ 4.65
Helen of Troy - HELE - close: 19.45 chg: +0.29 stop: 17.99
HELE is still bouncing along the $19.00 level but it's struggling to breakout over $19.50. More conservative traders might want to consider tightening their stops toward the 10-dma. Our target is the $22.00-22.50 range.
on January 25 at $19.04
Mens Wearhouse - MW - close: 33.93 change: -0.24 stop: 31.85
Wednesday's session saw MW continue to consolidate some of its recent gains. Tomorrow could be different. After the closing bell MW reported that January same-store sales rose 3%, which was better than expected. That should but a bullish bias under the stock tomorrow. 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 - cls: 32.00 chg: -0.06 stop: 30.75*new*
Time is running low with our play in NAT. We're choosing to raise the stop loss to $30.75, which is under short-term support at $31.00 and the 10-dma near $31.20. The 100-dma near $33.00 still looks like short-term resistance. 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: 36.60 chg: -1.02 stop: 34.85
Be careful here. Short-term technicals are turning bearish on PTEN. Today's profit taking in the oil and oil services stocks hit PTEN for a 2.7% loss. Now the MACD on PTEN's daily chart has produced a new sell signal. We are not suggesting new longs and conservative traders may want to exit early right here to prevent further losses. We're watching the $35.50-36.00 level for short-term support.
Picked on January 17
Short Play Updates
Closed Long Plays
Closed Short Plays
Travelzoo - TZOO - close: 21.66 change: +1.04 stop: 22.05
The GOOG sell-off did not have the negative impact on the Internet sector that we expected. The INX Internet index actually closed in the green. Shares of TZOO displayed some unusual relative strength with a 5% bounce. It was our plan to exit today near the closing bell to avoid holding over the company's earnings report due out tomorrow.
Picked on January 22 at $21.02