Long Play Updates
Amer.Phys.Cap. - ACAP - close: 48.99 change: +0.13 stop: 46.75
There is no change from our weekend update for ACAP. We remain on the sidelines. Our plan is to catch a breakout over resistance in the $50.00-50.50 region. We are suggesting a trigger to go long the stock at $50.61. If triggered we'll target a rally into the $54.85-55.00 range. The Point & Figure chart is bullish with an ascending triple-top breakout buy signal and a $91 target.
on February xx at $xx.xx <-- see TRIGGER
Arrow Elect. - ARW - close: 35.59 change: -0.30 stop: 33.90
Our new play in ARW is not off to the strongest start. What we do see is that traders bought the dip midday near $35.22 and the stock was on the rebound Monday afternoon. Volume came in well above the daily average. If you're looking for a new entry point this looks like a possibility or wait for a new move over $36.00. Our target is the $39.00-40.00 range over the next eight to ten weeks. We'll start our stop loss at $33.90 but more conservative traders may want to use a tighter stop near $34.80.
Picked on February 26 at $35.89
Claires Store - CLE - close: 32.32 change: +0.51 stop: 30.89
Strength in the retailers today helped push CLE to a 1.6% gain and our play back into positive territory. Retailers will start to announce their same-store sales data for February in a few days and that could spark a new rally (or sell-off) in the group. Don't forget that we plan to exit ahead of the earnings around March 9th. 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
LM Ericsson - ERICY - close: 34.53 chg: -0.02 stop: 33.93
We see no change from our weekend update on ERICY. The stock has been slowly consolidating lower over the past several days on below average volume. We suspect that ERICY will dip toward $34.00 and its simple 200-dma before moving higher again. Wait for the bounce from the 200-dma before considering new positions. Our target is the $36.75-37.00 range.
Picked on February 14 at $34.61
Hewlett Packard - HPQ - cls: 33.41 chg: +1.39 stop: 31.75
Wow! Monday proved to be a reversal of fortunes for HPQ. The stock started the day off strong and closed with a 4.3% gain. The move over $33.00 looks like a new bullish entry point for longs. Our target is the $35.00-35.50 range.
Picked on February 22 at $32.94
Novell Inc. - NOVL - close: 9.64 change: -0.03 stop: 9.10
We do not see any change from our weekend update for NOVL. We are not suggesting new positions in NOVL at this time. We only have three days left before NOVL reports earnings and honestly this looks like a good spot to exit with a minor gain. The stock tested resistance at the $9.80 level again and failed to breakout. We plan to exit on Thursday afternoon to avoid holding over the report due out Thursday night.
Picked on February 14 at $ 9.30
OptionsXpress - OXPS - close: 31.95 change: +1.15 stop: 29.95
Uh-oh! Our new play in OXPS is starting off on the wrong foot. If you're a candlestick reader then today's trading has painted what looks like "dark cloud cover", which can signal a bearish reversal. The big spike in volume on today's failed rally near $32.00 is another big warning sign. We are not suggesting new bullish plays at this time and we expect that shares will pull back toward the $30.00 level. Watch for a bounce from $30.00 before considering new longs.
Picked on February 26 at $31.95
Unisys - UIS - close: 6.90 change: +0.09 stop: 6.34
UIS was inching higher today but remains under resistance at the $7.00 mark. More conservative traders may want to tighten their stop losses even higher. Our short-term target is a move into the $7.40-7.50 range.
Picked on February 16 at $ 6.81
Short Play Updates
Bed Bath & Beyond - BBBY - cls: 35.99 chg: +0.27 stop: 37.01
There is no change from our weekend update for BBBY. We are still on the sidelines with BBBY. Our plan is to catch the next leg down in the stock price. The stock has been consolidating sideways for the last few weeks with a new trend of lower highs. We're suggesting a trigger to short the stock at $34.80. If triggered we'll target a decline into the $30.50-30.00 range. The Point & Figure chart is bearish and points to a $25.00 target.
Picked on February xx at $xx.xx <-- see TRIGGER
Hilton Hotels - HLT - close: 24.35 change: +0.04 stop: 25.01
There is no change from our weekend update on HLT. We want to catch any breakdown under $24.00 and we're 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
Juniper Networks - JNPR - close: 17.89 chg: +0.22 stop: 19.25
A solid day of gains for the technology group helped fuel another bounce in JNPR. So far short-term resistance at the $18.00 level is holding. However, now that the NASDAQ looks ready to post further gains we'd be careful with this short in JNPR. Double check your stop loss and make sure you're comfortable with the amount of risk you're taking. We remain bearish and continue to target the $15.25-15.00 range. The P&F chart is very bearish and points to a $9.00 target.
Picked on February 19 at $17.97
Closed Long Plays
Curtiss Wright - CW - close: 63.58 chg: +0.86 stop: 59.90
Target achieved. CW traded consistently higher throughout the session on Monday and finally hit our target in the $63.95-64.00 range late this afternoon.
Picked on February 16 at $ 60.35
Closed Short Plays