Long Play Updates
Digital Realty - DLR - close: 28.17 chg: +0.31 stop: 25.99
DLR tried to rally on Friday but the stock failed to breakout past its February highs. The stock was heading south on Friday afternoon. Watch for a dip back toward the $27.00 level, which as previous resistance should be new support. A bounce in the $27.00-27.30 region can be used as a new entry point for longs. Our target is the $29.75-30.00 range. We do not want to hold over the early May earnings report.
Picked on March 29 at $28.04
Denbury Res. - DNR - close: 31.67 change: -0.65 stop: 27.95
We have been warnings readers that DNR was short-term overbought and ready for a dip. It looks like that dip has begun. The oil sector experienced some profit taking as crude oil traded lower on Friday. Watch for a dip towards the 10-dma near what should be support at the $30.00 level. A bounce from $30 could be used as a new bullish entry point. Our target is unchanged in the $33.50-34.00 range.
Picked on March 26 at $30.47
LoJack Corp. - LOJN - close: 23.98 chg: -0.10 stop: 21.59
LOJN tried to breakout over its 100-dma on Friday but it just didn't have enough gas. Normally after a strong week we'd probably look for some profit taking back to the 50-dma (near 23.35) or back to the $23.00 level. However, LOJN is being added to the S&P smallcap index after the close of trading on April 4th. Funds that track that index need to buy the appropriate amount of stock. That could/should be a floor under shares of LOJN next week. Our target is the $26.25-26.50 range. We do not want to hold over the early May earnings report.
Picked on March 29 at $23.62
Nordson Corp. - NDSN - close: 49.86 change: +0.23 stop: 46.74
NDSN continues to show relative strength. The stock posted another gain on Friday and is testing resistance at the $50.00 mark. The MACD on the daily chart has produced a new buy signal. Traders can choose to wait for a potential bounce back toward $49.00 or wait for a move over $50.00 as the next entry point to go long. Our target is the $53.00-53.50 range. We do not want to hold over the late May earnings report.
Picked on March 29 at $49.25
Oil States Intl. - OIS - close: 36.85 chg: -0.40 stop: 32.24
A pull back in crude oil on Friday sparked some profit taking after what has been a strong week for the oil stocks. OIS dipped toward its 50-dma before bouncing. Volume was pretty low on the dip. We would use a bounce from the $36.00 region as a new bullish entry point to go long. Our target is the $41.00-42 range Please note that we do not want to hold over the early May earnings report.
Picked on March 29 at $36.05
Smurfit-Stone - SSCC - close: 13.57 chg: +0.05 stop: 12.99
SSCC is starting to inch higher again. Is the sideways consolidation over? We can't tell you but it looks like SSCC is building up some steam for another attempt to breakout past the $13.80 level. Traders might want to go long over $13.60 again. More conservative types may want to wait for a move over $13.80. Our target is the $14.95-15.50 range. We do not want to hold over the late April earnings report.
Picked on March 19 at $13.58
Trident Micro. - TRID - 29.06 chg: -0.53 stop: 27.49
We warned readers on Thursday that TRID might be weak on Friday. Rival LCD chip maker GNSS issued an earnings warning on Thursday night. One analyst firm said that trouble for GNSS was probably good news for TRID. Shares of TRID were on the rebound and headed higher into Friday's closing bell. We would use this as a new bullish entry point although more conservative traders may want to inch their stop loss closer to the $28.00 level. Our target will be the $33.00-33.50 range. We do not want to hold over the mid April earnings report.
Picked on March 26 at $30.50
Short Play Updates
Crown Castle Intl. - CCI - cls: 28.35 chg: +0.37 stop: 30.01*new*
CCI managed a bounce on Friday but the stock remains inside its narrow, descending channel. Shares should find resistance near $29.00 or the 10-dma (28.90). We are going to lower our stop loss to $30.01. More conservative traders may want to adjust their stop loss into the $29.45-29.55 range. We are not suggesting new short plays at this time. Our target is the $26.25-26.00 range.
Picked on March 15 at $29.36
N.Y.Times - NYT - close: 25.31 change: +0.01 stop: 26.01*new*
The tug-of-war between the bulls and the bears is getting pretty tight. NYT's sideways consolidation has narrowed into a 15-cent range on Friday. Shares have immediate overhead resistance at the 10-dma near $25.45. Will NYT breakout higher or continue its bearish pattern lower? That is the question and we should see a breakout (either direction) soon. We are a little bit wary given the lack of follow through lower on the breakdown below $26.00. Thus we want to reduce our risk so we're lowering our stop loss to $26.01. Our target is the $24.00 level. We do not want to hold over the April 13th earnings report. We're not suggesting new plays at this time.
Picked on March 22 at $25.55
Tribune Co. - TRB - close: 27.43 change: -0.07 stop: 30.01
TRB continues to show relative weakness and volume has been above average throughout the stock's latest sell-off, which is naturally bearish. We remain bearish on the stock but TRB looks very short-term oversold and due for a bounce. We are not suggesting new plays at this time. Our target is the $26.50-26.00 range. We do not want to hold over the April earnings report.
Picked on March 19 at $29.36
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