Long Play Updates
Atlas America - ATLS - close: 51.33 chg: +0.08 stop: 46.99
Our new bullish play in ATLS is not off to the fastest start. A rise in natural gas inventories sparked a pull back in gas futures, which seemed to short-circuit ATLS' early morning rally today. This may prove to be a boon. Watch for a dip back toward the $50.00 level, which should be new support. We'd use a dip to $50 or a bounce from $50 as a new entry point to go long the stock. More conservative traders may want to tighten their stop loss. There is still a chance for more short covering. The latest data put short interest at 7.3% of ATLS' 16.2 million-share float. Our short-term target for ATLS is the $54.90-55.00 range. More aggressive traders may want to aim higher, especially with the P&F chart pointing to a $70 target. However, we do not want to hold over the early May earnings report.
Picked on April 19 at $51.25
Autoliv - ALV - close: 55.77 chg: -0.63 stop: 53.99
Hmm... there was no follow through on ALV's recent breakout. Today's session looks like a failed rally and is suggesting that ALV could retreat back to the $55.00 level, which should be short-term support. We would watch for a dip (or bounce) near $55.00 as a new entry point to go long the stock. The P&F chart is very bullish with a $95 target. Our target is the $59.85-60.00 range. We do not want to hold over the late April earnings report, which is currently unconfirmed.
Picked on April 19 at $56.40
Baidu.com - BIDU - close: 60.60 chg: -0.73 stop: 56.49
We want to remind readers that this is an aggressive play and BIDU tends to be volatile. Speaking of volatility we could see some tomorrow. After the bell tonight Google (GOOG) beat earnings estimates and shares of GOOG were trading significantly higher tomorrow. GOOG said that the Chinese market was still up for grabs and that suggests that BIDU's position as number one in China could be in jeopardy. Yet instead of selling off on the news shares of BIDU were actually trading higher in after hours tonight (around $62.00-62.50). BIDU hit our trigger to go long the stock at $62.55 early this morning. Our target is the $68.00-70.00 range. We do not want to hold over the May 9th earnings report.
Picked on April 20 at $62.55
Digital Realty - DLR - close: 29.30 chg: +0.01 stop: 27.45*new*
We see no change from our previous updates for DLR. The stock is still consolidating sideways but remains within striking distance of our target in the $29.75-30.00 range. We are going to raise our stop loss to $27.45. We do not want to hold over the early May earnings report.
Picked on March 29 at $28.04
Liberty Global - LBTYA - close: 20.88 chg: +0.02 stop: 19.95
We see no change from our previous updates on LBTYA. The stock remains under resistance at its simple 100-dma. We're not suggesting new positions at this time although traders could wait for a breakout over the 100-dma or Monday's high near $21.35 and adjust your target higher towards the $24.00-25.00 range. We do not want to hold the position over the early May earnings report. Our target is currently $21.95.
Picked on April 02 at $20.47
Nordson Corp. - NDSN - close: 52.69 chg: +0.16 stop: 48.49*new*
NDSN is still creeping higher and nearing our target in the $53.00-53.50 range. More conservative traders may want to exit early right here to lock in gains. We are going to adjust our stop loss to $48.49. We do not want to hold over the late May earnings report.
Picked on March 29 at $49.25
Phillips Van-Heusen - PVH - cls: 39.02 chg: +0.43 stop: 36.39
So far so good. PVH posted another gain following yesterday's bullish breakout. We see no changes from our Wednesday play description. Our target will be the $42.00-42.50 range. We do expect some resistance near $40.00 to slow down PVH's ascent. Our time frame is about eight weeks. Keep your ears open for any news when PVH presents at the May 3rd Lehman Brothers retail seminar.
Picked on April 19 at $38.59
PW Eagle - PWEI - close: 30.75 chg: +0.41 stop: 26.45
PWEI found relatively stable support in the $30.00-30.25 region today. Volume did come in low but the stock was charging higher into the closing bell. While we'd prefer to buy a dip/bounce near $28.50 today's late afternoon rally might be a new entry point. Our target is the $33.50-34.00 range. We do not want to hold over the mid-May earnings report.
Picked on April 16 at $28.92
QuickLogic - QUIK - close: 6.20 chg: +0.07 stop: 5.74
Time is running out for our bullish play in QUIK. The company is expected to report next Wednesday so we are planning to exit on Tuesday, April 25th, nearing the closing bell. We're not suggesting new plays at this time. Traders might want to exit early or plan an early exit near $6.50. We're going to keep our target at the $6.95 level for now.
Picked on April 02 at $ 5.74
Threshold Pharma. - THLD - cls: 15.50 chg: -0.62 stop: 14.99*new*
The relative weakness in THLD the last few sessions is disappointing and worrisome. Broken resistance in the $15.50-16.00 region should have been new support. The stock fell to $15.00 this morning before bouncing but the bounce wasn't very convincing. We are not suggesting new plays. More conservative traders may want to exit right here to preserve their trading capital. We are going to raise our stop loss to $14.99 to reduce our exposure.
Picked on April 16 at $16.06
Short Play Updates
Advance Auto Parts - AAP - cls: 39.50 chg: +0.57 stop: 41.01*new*
AAP produced an oversold bounce today but it looks like the rebound has failed near resistance at the $40.00 mark and its descending 10-dma. This may prove to be a new bearish entry point. We are lowering our stop loss to $41.01 but more conservative traders may want to place their stop closer to the $40 region. We are going to target a decline into the $36.00-35.50 range. We do not want to hold over the mid-May earnings report.
Picked on April 11 at $39.41
Aeropostale - ARO - close: 30.63 chg: -0.05 stop: 29.05
We see no change from our previous updates on ARO. More aggressive traders might want to consider shorts on a failed rally under $31.50. We remain on the sidelines and we may never be triggered if the markets continue higher. Currently we're trying to catch a breakdown with a trigger to short the stock at $27.69. However, traders might want to consider bullish positions if ARO can trade over $32.00.
on April xx at $xx.xx <-- see TRIGGER
Entercom - ETM - close: 26.68 chg: +0.09 stop: 28.01
ETM is still trying to bounce but it looks like it's struggling with the $27.00 level as new resistance. Readers might want to consider new positions with today's failed rally. Broken support at $27.50 should now act as significant resistance. Our target is the $25.50-25.25 range.
Picked on April 18 at $26.80 *gap down*
Closed Long Plays
Closed Short Plays