Long Play Updates
Bldg Materials - BMHC - close: 35.63 chg: -1.48 stop: 34.99
This does not bode well for the bulls. BMHC produced a brief bounce this morning before promptly retreating under the 50-dma and heading toward support near the $35.00 level. Short-term technicals do not look healthy. We do not see any specific news to account for today's 3.98% decline other than the widespread profit taking. We're not suggesting new positions and more conservative traders may want to think about an early exit.
Picked on April 06 at $38.29
Digital Realty - DLR - close: 28.45 chg: +0.24 stop: 26.90
After Monday's decline we were expecting another pull back today but DLR is showing some relative strength with a minor bounce from its simple 10-dma. We are still not suggesting new bullish positions at this time. 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
Liberty Global - LBTYA - close: 20.79 chg: +0.15 stop: 19.95
LBTYA displayed some relative strength today. Traders bought the dip near $20.50 and the stock closed in the green on above average volume, which is bullish. This looks like a new bullish entry point to go long but we would hesitate given the weakness in the major indices. Our target is the $21.95-22.25 range.
Picked on April 02 at $20.47
Nordson Corp. - NDSN - close: 49.09 chg: +0.22 stop: 47.45
NDSN is trying to bounce but weakness in the major indices seems to be undermining investor confidence. More conservative traders might want to consider tightening their stops toward $48.00. 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: 38.27 chg: -0.74 stop: 35.75
Oil stocks were unable to evade the market-wide selling today and OIS lost 1.89%. Shares did manage to bounce from its simple 10-dma but we are not suggesting new long positions at this time. More conservative traders may want to consider taking some profits right here. Our target is the $41.00-42.00 range. We do not want to hold over the early May earnings report.
Picked on March 29 at $36.05
QuickLogic - QUIK - close: 6.26 chg: -0.19 stop: 5.45
It's decision time. QUIK succumbed to some profit taking today and lost 2.9%. The stock is very short-term overbought and if the SOX semiconductor index continues to sink we suspect that QUIK will see more selling pressure. Readers need to decide if they are willing to lock in profits here or decide to weather the ups and downs with the expectation that QUIK will continue higher. Short-term the two-day trading action looks like a top and QUIK could dip back to $6.00 or $5.75 in a heartbeat. We are not suggesting new bullish positions. Our target is the $6.95-7.25 range.
Picked on April 02 at $ 5.74
Trident Micro. - TRID - 28.68 chg: -0.97 stop: 27.90
TRID also succumbed to some profit taking today with a 3.2% decline on above average volume. The stock is nearing technical support at its 40 and 50-dma's. We are not suggesting new bullish positions at this time. Our target is 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
N.Y.Times - NYT - close: 25.13 change: +0.00 stop: 25.61*new*
Tomorrow is our last day. We plan to exit near the closing bell on Wednesday, April 12th to avoid holding over the earnings report due out on Thursday morning. Please note we're lowering our stop loss to $25.61 to reduce our risk.
Picked on March 22 at $25.55
SAFECO - SAFC - close: 49.64 change: +0.04 stop: 52.01
We do not see any changes from our previous update on SAFC. We need to be expecting a potential oversold bounce back to the $50.00-51.00 region or at least short-term technical resistance at the 10-dma near $50.30. The $51.00 level, now broken support, should act as new resistance. A failed rally under $51 could be a new entry point to short the stock although we'd prefer to not launch new short positions with shares above the $50 level. Our target is the $45.50-45.00 range. We do not want to hold over the May 2nd earnings report.
Picked on April 09 at $ 49.84
Closed Long Plays
LoJack Corp. - LOJN - close: 22.70 chg: -1.02 stop: 21.59
Look out below! LOJN displayed a lot of weakness today with a 4.3% decline and a breakdown under technical support at the 50-dma. We do not see any specific news to account for the morning sell-off but there was a similar move lower this morning in the small cap indices. Technicals for LOJN have turned south and today's session looks like a bearish engulfing candlestick. We are suggesting that readers exit immediately. More aggressive traders may want to watch for a bounce near the 200-dma (near 22.15), the $22.00 level, or the exponential 200-dma (near 21.65) as a potential entry point but we'd use a tight stop loss.
Picked on March 29 at $23.62
Closed Short Plays