Long Play Updates
Phillips Van-Heusen - PVH - cls: 40.52 chg: +0.17 stop: 37.49
PVH is still consolidating above the $40.00 level but seems to be struggling to follow through on any rally attempt. We're not suggesting new positions and more conservative traders might want to take some money off the table or tighten their stop loss. Our target is the $42.00-42.50 range.
Picked on April 19 at $38.59
Short Play Updates
Blyth Inc. - BTH - close: 20.30 chg: +0.29 stop: 20.55
BTH looked so close to breaking down yesterday but a rally in the markets on Thursday has sparked a 1.44% gain or should we say oversold bounce. At this time we do not see any changes from our previous updates. We remain bearish and continue to suggest a trigger to short the stock at $19.79, which is under the March low. If triggered we will target a decline into the $18.25-18.00 range since the $18.00 level has been support in the past.
Picked on April xx at $xx.xx <-- see TRIGGER
Laserscope - LSCP - close: 20.46 chg: +0.30 stop: 21.55
Reversal alert! Be very careful here. We are not suggesting new plays. LSCP consolidated sideways between $20.00 and 20.25 for the first couple of hours today. Then without warning shares dipped to $19.71 and eventually pushed their way back above broken support at the $20 level again. Some traders think moves like this amount to manipulation by the market makers to hit people's stops (under $20.00) or triggers like ours. We see it as a risk of the trade and we're not suggesting new shorts given what looks like a bullish reversal. Conservative traders, if you opened positions, might want to bail out earlier or tighten your stop. The $21.00 level should be the next area of overhead resistance.
Picked on May 04 at $19.95
Red Robin - RRGB - close: 45.08 chg: -0.22 stop: 46.51
We see no change from our previous updates on RRGB. The stock failed to rally with the markets today, which is good news for the bears. Yet the stock is still holding on to support at its 50-dma. Fundamentally investors are nervous that high fuel prices will impact consumer spending and family dining. We'd wait for a decline under $44.75 or the $44.50 level before considering new short positions. Our target is the $40.25-40.00 range. More aggressive traders may want to aim lower. We'll plan to exit ahead of the mid-May earnings report.
Picked on April 26 at $43.99
Tiffany & Co. - TIF - close: 34.32 chg: -0.37 stop: 36.25
TIF tried to rally this morning but lost its momentum at the simple 10-dma. TIF's decline and failed rally today looks like a new bearish entry point to short the stock. Our only concern is the below average volume. More conservative traders may want to tighten their stop loss. Our target is the $32.25-31.75 range.
Picked on April 25 at $35.11
Closed Long Plays
Aeropostale - ARO - close: 28.93 chg: -3.73 stop: 28.99
The sell-off was worst than expected. As we reported last night ARO turned in April same-store sales of +8% but management guided lower or to the low-end of its previous guidance. Investors punished the stock today. ARO gapped down to open at $31.25 and then crashed through the $30.00 level, its 10, 50 and 100-dma's, and our stop loss at $28.99.
Picked on May 01 at $31.65
Liberty Global - LBTYA - close: 20.67 chg: +0.32 stop: 20.14
We stated last night that we were exiting early near the closing bell on Thursday. It looks like LBTYA will remain stuck in limbo under resistance at the 100-dma or above support at $20.00 until its earnings report next week.
Picked on April 02 at $20.47
Closed Short Plays
KLA-Tencor - KLAC - close: 50.05 chg: +0.53 stop: 50.01
Semiconductor stocks rallied again. The SOX index added 1.3% and that inspired a sharp rise in KLAC. Shares of KLAC spiked to $51.49 but ended up giving back most of its gains to close under its 100-dma and 200-dma. While this looks like a failed rally we are still stopped out at $50.01.
Picked on April 30 at $48.16
SCS Transportation - SCST - cls: 27.06 chg: +1.00 stop: 28.55
We are suggesting an early exit. A pull back in crude oil prices to under $70.00 a barrel helped the Dow Transportation index rally to a new all-time high. Shares of SCST enjoyed a 3.8% gain and a breakout above its 10-dma and 100-dma. We would keep an eye on the stock to see if the bounce fails in the $28.00-28.50 region.
Picked on April 23 at $27.45