Option Investor
Play Updates

In Play Updates and Reviews

HAVING TROUBLE PRINTING?
Printer friendly version

Long Play Updates

Amer.Phys.Cap. - ACAP - close: 48.92 change: +0.13 stop: 46.75

There is still no change from our previous updates. We are still in a wait-and-see mode with ACAP. Our plan is to catch a breakout over the $50.00 level. We're suggesting a trigger at $50.61 to go long. If triggered we'll target a rally into the $54.85-55.00 range.

Picked on February xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 02/16/06 (unconfirmed)
Average Daily Volume: 53 thousand

---

Claires Store - CLE - close: 32.25 change: +0.10 stop: 30.89*new*

CLE is still ticking higher despite the weakness seen across the market today. Volume came in pretty low suggesting that traders aren't really excited about making new commitments at the moment. We are going to raise our stop loss to $30.89. Our target is the $33.90-34.00 range. The P&F chart points to a $42 target.

Picked on February 14 at $32.00
Change since picked: + 0.25
Earnings Date 03/09/06 (unconfirmed)
Average Daily Volume: 697 thousand

---

Curtiss Wright - CW - close: 62.14 chg: -1.12 stop: 59.90

Yuck! The action in CW today looks like a bearish reversal. More conservative traders may just want to exit right here before all of our gains evaporate. We are not suggesting new positions.

Picked on February 16 at $ 60.35
Change since picked: + 2.79
Earnings Date 02/09/06 (confirmed)
Average Daily Volume = 76 thousand

---

LM Ericsson - ERICY - close: 34.67 chg: -0.32 stop: 33.93

Lack of follow through for yesterday's bounce is not very encouraging but the $34.50 level continues to act as short-term support. Our target is the $36.75-37.00 range.

Picked on February 14 at $34.61
Change since picked: + 0.06
Earnings Date 01/31/06 (confirmed)
Average Daily Volume: 2.2 million

---

Hewlett Packard - HPQ - cls: 32.37 chg: -0.57 stop: 31.75

HPQ also suffered a failed follow through on yesterday's rebound. This immediately puts us on the defensive. The stock could bounce from the $32.00 level again, which we would suggest new long positions on, but HPQ could just as easily head for its 50-dma or even the $30.00 region. More conservative players may just want to wait for a move over $33.00 before considering long plays. Right now the NASDAQ looks poised for more short-term weakness tomorrow and if the NASDAQ slips under 2260 then HPQ (not actually a NASDAQ stock) will probably hit our stop loss.

Picked on February 22 at $32.94
Change since picked: - 0.57
Earnings Date 02/15/06 (confirmed)
Average Daily Volume: 13.5 million

---

Novell Inc. - NOVL - close: 9.73 change: +0.33 stop: 9.10*new*

NOVL displayed plenty of relative strength today with a 3.5% rally on above average volume in spite of a pull back in the SOX semiconductor index. Unfortunately, we could not find the exact cause for the show of strength. NOVL looks poised to test resistance near $9.80 and its late January high. Our target is the $10.25 mark but more conservative traders may want to exit in the $9.95-10.00 range. We are inching up our stop loss to $9.10.

Picked on February 14 at $ 9.30
Change since picked: + 0.43
Earnings Date 03/02/06 (confirmed)
Average Daily Volume: 5.6 million

---

Unisys - UIS - close: 6.84 change: -0.00 stop: 6.25

UIS tried to breakout over the $7.00 level again but failed. The good news, if there is any here, is that UIS appears to still be building on its short-term trend of higher lows. If technology stocks trek lower tomorrow watch the $6.70 and $6.60 levels to act as support. Our short-term target is a move into the $7.40-7.50 range.

Picked on February 16 at $ 6.81
Change since picked: + 0.03
Earnings Date 01/26/06 (confirmed)
Average Daily Volume: 2.1 million
 

Short Play Updates

Bed Bath & Beyond - BBBY - cls: 35.59 chg: +0.06 stop: 37.01

We don't see any change from our previous updates on BBBY. Today's action looks like a failed rally under $36.00. More aggressive traders may want to consider positions here or under $35.40. We are suggesting a trigger to short the stock at $34.80. If triggered we'll target a decline into the $30.50-30.00 range.

Picked on February xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 03/29/06 (unconfirmed)
Average Daily Volume: 3.5 million

---

Hilton Hotels - HLT - close: 24.39 change: -0.04 stop: 25.01

There is no change from our previous updates on HLT. We are suggesting a trigger to short the stock at $23.98. If triggered our target is the $22.25-22.00 range.

Picked on February xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 05/02/06 (unconfirmed)
Average Daily Volume: 2.9 million

---

Juniper Networks - JNPR - close: 17.82 chg: +0.08 stop: 19.25

JNPR tried to rebound again today and yet again the rally failed near the $18.00 level. Our target is the $15.25-15.00 range.

Picked on February 19 at $17.97
Change since picked: - 0.15
Earnings Date 01/25/06 (confirmed)
Average Daily Volume: 11.8 million
 

Closed Long Plays

Foster Wheeler - FWLT - close: 48.17 chg: +0.42 stop: 45.95

Murphy's law is alive and well. FWLT was immediately weak this morning but traders bought the dip and pushed FWLT back into the green on above average volume. We were trying to reduce our risk with a recently raised stop loss. Unfortunately, FWLT hit that stop loss this morning at $45.95 stopping us out with a loss.

Picked on February 17 at $48.65
Change since picked: - 0.48
Earnings Date 03/13/06 (unconfirmed)
Average Daily Volume: 900 thousand
 

Closed Short Plays

None
 

Premier Investor Play Update Archives