Long Play Updates
Atlas America - ATLS - close: 51.01 chg: -0.98 stop: 46.99
A pull back in crude oil also sparked some consolidation in the natural gas stocks. ATLS lost 1.88% but volume came in pretty low, which would normally suggest a lack of conviction behind the move. Monday's session did produce a bearish engulfing candlestick pattern and that is a concern. We would wait and watch for a bounce from the $50.00 level before considering new positions. Broken resistance at $50 should be new support. 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 $73 target. Bear in mind that we do not want to hold over the early May earnings report.
Picked on April 19 at $51.25
Autoliv - ALV - close: 54.72 chg: -0.09 stop: 53.99
Bullish traders should move to yellow-alert here with ALV. The stock has failed to bounce from rising technical support at its simple 50-dma. A breakdown under the 50-dma (54.62) would be bad news but ALV also has price support at the $54.00 level. The P&F chart remains bullish with a $95 target. Our target is the $59.85-60.00 range. Please note that we're running out of time on the play and it may not be prudent to open new positions. The only earnings date we have for ALV is April 27th but that has not been confirmed yet. We do not want to hold over the announcement. If we don't get a confirmation on earnings soon we may choose to exit early on April 26th to avoid any negative surprises.
Picked on April 19 at $56.40
Baidu.com - BIDU - close: 60.05 chg: -0.45 stop: 57.45
BIDU continues to be somewhat volatile. The stock dipped toward the $58.20 region twice and both times traders quickly bought the dip. The rebound back above $60.00 is encouraging but we'd wait for a new relative high before considering new positions. 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: 28.88 chg: -0.31 stop: 27.45
Conservative traders might want to think about exiting early here in DLR. The recent pull back has turned short-term technical indicators into new bearish signals. Overall the pattern is still one of upward momentum but DLR could dip to $28.00 or support near the 50-dma in a heartbeat. 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: 20.44 chg: -0.16 stop: 19.95
Our bullish play in LBTYA has turned negative on us (-0.03). The stock is
pulling back toward round-number, psychological support at the $20.00 level. We
would not consider new
positions until we see a strong bounce or a breakout
above the 100-dma, which has been resistance for the last three weeks.
Unfortunately, we're running out of time with LBTYA expected to report earnings
Picked on April 02 at $20.47
Phillips Van-Heusen - PVH - cls: 38.39 chg: -0.23 stop: 36.39
PVH has pulled back to short-term support at the $38.00 level. A bounce from here could be used as a new bullish entry point. 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: 30.00 chg: -0.59 stop: 27.45
PWEI experienced some profit taking this morning but managed to rebound back above the $30.00 level by the closing bell. We do not have much time left before we need to exit ahead of the company's earnings report so we're not suggesting new positions. More conservative traders may want to exit early considering the negative turnaround in the short-term technical oscillators. Our target is the $33.50-34.00 range. The P&F chart is bullish with a $43.00 target. We do not want to hold over the May 2nd earnings report.
Picked on April 16 at $28.92
QuickLogic - QUIK - close: 6.05 chg: -0.05 stop: 5.84
The consolidation pattern in QUIK is narrowing and that means we can expect a breakout one way or the other pretty soon. At this time we're not suggesting new positions. We want to avoid holding over the April 26th earnings report. Our plan is to exit on Tuesday afternoon near the closing bell.
Picked on April 02 at $ 5.74
Sanderson Farms - SAFM - close: 23.95 chg: -0.82 stop: 21.99
We do not see any change from our weekend play description. SAFM's breakout over resistance at $23.00 and its 50-dma (22.99) was powered by strong volume and looks like a new entry point to go long. More conservative traders may want to wait for a rise through the $25.00 level or look for a dip back toward $23.00-23.50 as a new entry. Our target is the $28.00-30.00 range.
Picked on April 23 at $24.77
Threshold Pharma. - THLD - cls: 15.05 chg: -0.23 stop: 14.99
THLD continued to slip lower but failed to crack support at the $15.00 level. While we'd like to see a bounce from support at this point in the game we're expecting THLD to hit our stop loss tomorrow. If the stock surprises us and moves higher tomorrow look for a rise past $15.75 as a new entry point.
Picked on April 16 at $16.06
Short Play Updates
Advance Auto Parts - AAP - cls: 38.25 chg: -0.67 stop: 40.05*new*
AAP is nearing new six-month lows. The stock lost 1.7% following Friday's failed rally near the 10-dma. We continue to target a decline into the $36.00-35.50 range. Please note that we're lowering the stop loss to $40.05. We do not want to hold over the mid-May earnings report.
Picked on April 11 at $39.41
Aeropostale - ARO - close: 29.63 chg: +0.08 stop: 29.05
We see no change from our previous updates on ARO. We're still waiting for a breakdown below support near $28.00. We're using a trigger at $27.69 to open the play. If triggered our target is the $24.00 level. Alternatively, if ARO breaks out over $31.50 (near the top of its trading range) we might consider new bullish positions.
Picked on April xx at $xx.xx <-- see TRIGGER
Entercom - ETM - close: 26.51 chg: +0.11 stop: 27.55
The earnings deadline is looming. We do not want to hold over the May 8th earnings report. 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*
SCS Transportation - SCST - cls: 26.10 chg: -1.35 stop: 30.01
It looks like we were not the only ones to see SCST break support on Friday. Even though the transport sector closed higher today on the pull back in oil prices, shares of SCST lost 4.9% on above average volume. Shares fell toward technical support at the 100-dma. This would be a good spot to look for an oversold bounce. A failed rally under $28.00 or its 50-dma can be used as a new bearish entry point. Our target will be the $25.00-24.00 range. We'll start the play with a wide stop loss at $30.01 but more conservative traders may want to put their stop closer to $29. The more recent data puts short interest at 2.7% of its 14.39 million-share float.
Picked on April 23 at $27.45
Closed Long Plays
Closed Short Plays