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Play Updates

In Play Updates and Reviews

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Long Play Updates

Arch Coal - ACI - close: 48.73 change: +0.43 stop: 44.74

ACI rallied toward the $50 level this morning before running out of steam. Shares closed with a 0.89% gain. We remain bullish and its technical picture is improving. The MACD is nearing a new buy signal. Our target is the $54.00-55.00 range.

Picked on May 28 at $47.50
Change since picked: + 1.23
Earnings Date 07/21/06 (unconfirmed)
Average Daily Volume: 3.9 million

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Amer. Std. Co. - ASD - close: 42.64 change: +0.15 stop: 41.49

We were expecting a bigger bounce in ASD considering the market-wide rebound on Thursday. Overall we remain short-term bullish given the mini double-bottom pattern over the last couple of weeks with support near the 200-dma. Our target is the $46.00-47.00 range.

Picked on May 28 at $43.30
Change since picked: - 0.66
Earnings Date 07/19/06 (unconfirmed)
Average Daily Volume: 1.3 million

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Brookfield Asset Mgt - BAM - cls: 42.50 chg: +1.44 stop: 38.49

BAM spiked higher this morning and broke out over resistance at the $42.00 level. Volume was a bit anemic, which is a warning sign for the bulls, but we're not going to complain about a 3.5% gain. The MACD appears to have produced a new buy signal. Our target is the $43.85-44.00 range.

Picked on May 25 at $40.83
Change since picked: + 1.67
Earnings Date 04/28/06 (confirmed)
Average Daily Volume: 473 thousand

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Drew Industry - DW - close: 32.15 chg: +0.45 stop: 30.19

DW has rallied back above the $32.00 level again. We've been suggesting that readers consider long positions on another move over $31.75 or $32.00. Our target is the $33.75-34.00 range.

Picked on May 25 at $31.62
Change since picked: + 0.53
Earnings Date 05/01/06 (confirmed)
Average Daily Volume: 137 thousand

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ImClone Sys. - IMCL - close: 40.98 chg: +0.98 stop: 38.74

The BTK biotech index has posted another gain and marked its fifth win in the last six sessions. Today's session looks like a bullish breakout over the 660 level and the exponential 200-dma for the BTK index. Meanwhile IMCL out performed its peers with a 2.4% gain to breakout over resistance near $40.50. Our trigger to go long was at $40.55 so the play is now open. Our target is the $44.00 level.

Picked on June 01 at $40.55
Change since picked: + 0.43
Earnings Date 07/16/06 (unconfirmed)
Average Daily Volume: 1.6 million

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Murphy Oil - MUR - close: 53.65 chg: +0.92 stop: 48.75

MUR continues to power higher, adding 1.7%, on top of yesterday's big breakout. We do not see any changes from our previous updates. Our target is the $57.50-60.00 range.

Picked on May 31 at $52.55
Change since picked: + 1.10
Earnings Date 07/25/06 (unconfirmed)
Average Daily Volume: 1.3 million
 

Short Play Updates

Akamai - AKAM - close: 32.10 chg: +0.81 stop: 32.55 *new*

AKAM added 2.5% on Thursday but honestly we're surprised the stock did not rally higher given the 4.1% surge in the NWX networking index. We are even more surprised that volume came in below average on today's gain for AKAM. We've been warning readers that AKAM was poised to bounce. The question now is whether or not the trendline of lower highs and its 50-dma will act as resistance. We're lowering our stop loss to $32.55 but more conservative traders may want to exit immediately.

Picked on May 23 at $31.15
Change since picked: + 0.95
Earnings Date 07/26/06 (unconfirmed)
Average Daily Volume: 3.2 million

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K-Swiss - KSWS - close: 26.86 chg: +0.48 stop: 27.65

KSWS produced an oversold bounce today adding 1.8% but volume came in below average. The trend remains bearish but look for the stock to traded toward the $27.25 region before rolling over again. Our target is the $26.00 level. More aggressive traders may want to aim lower. The P&F chart points to a $19 target.

Picked on May 12 at $27.45
Change since picked: - 0.59
Earnings Date 04/27/06 (confirmed)
Average Daily Volume: 300 thousand

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Starbucks - SBUX - close: 36.21 chg: +0.56 stop: 36.65

SBUX reported a 23% rise in revenues for the month of May and a 7% rise in same-store sales. There wasn't any earth-shaking move in the stock on the news so today's gain in SBUX appears to be market related. What is noteworthy is the move back above its 100-dma and the $36.00 level. Our stop is not far away at $36.65. We are not suggesting new shorts.

Picked on May 23 at $35.59
Change since picked: + 0.62
Earnings Date 08/02/06 (unconfirmed)
Average Daily Volume: 5.7 million
 

Closed Long Plays

Health Net. - HNT - close: 44.38 chg: +1.36 stop: 40.99

Target achieved and surpassed. Healthcare-related stocks turned in a strong session with the HMO.X index rising 2.9%. Shares of HNT added 3.16% and broke through technical resistance at its 50-dma. Our target was the $43.75-44.00 range.

Picked on May 16 at $41.12
Change since picked: + 1.90
Earnings Date 08/07/06 (unconfirmed)
Average Daily Volume: 1.1 million
 

Closed Short Plays

None
 

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