Long Play Updates
Argonaut Group - AGII - close: 34.87 chg: -0.63 stop: 33.90
AGII couldn't escape the market-wide profit taking today. Shares fell 1.77% but remain in its long-term up trend. We would not suggest new positions at this time. Watch for a bounce from the $34.00 region. 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
Alliance Res. - ARLP - close: 39.57 chg: +0.83 stop: 37.49
ARLP continued to rally on Thursday and displayed some impressive relative strength with a 2.1% gain today. We are still on the sidelines. Our trigger to go long is at $40.05, above resistance at $40.00 and its 200-dma. If triggered we will target a rally into the $44.00-45.00 range. Our time frame is eight to tend weeks.
Picked on February
x at $xx.xx <-- see TRIGGER
CEC Entertainment - CEC - cls: 36.90 chg: -0.71 stop: 35.18
Perfect! Yesterday we told readers to watch for a dip back to the $36.50 region (near its 200-dma). That's exactly what we got today with a dip to $36.52. This looks like a new bullish entry point. However, more conservative traders may want to take a wait and see approach since the major averages look a bit weak. Our target is the $39.85-40.00 range.
Picked on February 1 at $37.61
Helen of Troy - HELE - close: 19.49 chg: +0.04 stop: 18.49*new*
We were encouraged by HELE's relative strength today. The stock looks poised to breakout over the $19.50 level. More conservative traders might want to consider tightening their stops toward the 10-dma (18.94). We are raising our stop loss to $18.49. Our target is the $22.00-22.50 range.
Picked on January 25 at $19.04
Mens Wearhouse - MW - close: 32.92 change: -1.01 stop: 31.85
Uh-oh! Shares of MW did not respond to the positive same-store sales news like we thought it would. The stock lost almost 3% today. We are not suggesting new positions at this time. 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: 31.65 chg: -0.35 stop: 30.75
NAT turned lower with the rest of the market. We suspect that shares will decline toward the $31.00 level, where it should have some short-term support. We only have a few days before we need to exit ahead of the February 7th earnings report.
Picked on January 25 at $31.56
Patterson-UTI - PTEN - close: 36.25 chg: -0.35 stop: 34.85
We don't see any change from our previous update on PTEN. Technicals have turned bearish and more conservative traders might want to exit early. Watch the $35.00 level to act as short-term support.
Picked on January 17 at $36.85
RC2 Corp. - RCRC - close: 34.85 chg: -0.77 stop: 34.49
We remain on the sidelines. Our trigger to go long RCRC is at $36.05. If triggered we'll target a rally into the $39.00-40.00 range but we will plan to exit ahead of its February earnings report.
Picked on February x at $xx.xx <-- see TRIGGER
Short Play Updates
Closed Long Plays
Global Power Equip. - GEG - cls: 4.95 chg: -0.20 stop: 4.59
Target achieved. The rally in GEG continued this morning and shares hit a high of $5.40 before succumbing to profit taking. Our target was the $5.40-5.60 range. If you did not exit with us be careful. Today's trading looks like a failed rally under resistance at the 100-dma.
on January 29 at $ 4.65
Nash-Finch Co. - NAFC - close: 29.44 chg: -0.93 stop: 29.29
NAFC did not see any follow through on yesterday's bounce from the bottom of its rising channel. Instead the stock was weak from the start of trading on Thursday. We were stopped out when it fell below its trendline of support at $29.29.
Picked on February 1 at $30.37
Closed Short Plays