Long Play Updates
Asta Funding - ASFI - close: 35.06 change: -0.05 stop: 33.95
We do not see any changes from our previous updates on ASFI. The stock is still consolidating in such a way that it looks like the next move will be a breakout higher. The MACD is very close to a new buy signal. Aggressive traders might want to consider new positions here over $35.00. We're going to stock to our plan with a trigger at $36.01.
Picked on June xx at $xx.xx <-- see TRIGGER
A.S.V.Inc. - ASVI - close: 21.24 change: -0.16 stop: 19.99*new*
The bounce in stocks has stalled and shares of ASVI failed to breakout past the $22 level. We are raising our stop loss to $19.99 and we're not suggesting new bullish positions at this time. We do not want to hold over the company's earnings report in late July.
on June 18 at $21.20
Archstone - ASN - close: 49.89 chg: -0.60 stop: 48.99
Bad news! There was no follow through on ASN's bullish breakout yesterday. The MACD is creeping closer to a new sell signal. We are not suggesting new long positions.
Picked on June 05 at $50.21
Syneron Med. - ELOS - close: 21.00 change: -0.42 stop: 19.99
The bounce from the intraday low near $20.60 is a positive but we're starting to worry about ELOS' upward momentum, especially if the market's turn lower again tomorrow. We would not suggest new bullish positions at this time.
Picked on June 21 at $21.51
Energy Transfer - ETP - close: 44.67 chg: +0.47 stop: 42.49
Energy was the only major sector to close in the green today. This helped propel ETP to a new two-week high. Technicals look more positive. We would still consider new bullish positions here. Our target is the $47.50-48.00 range.
Picked on June 18 at $44.25
Potlatch - PCH - close: 37.32 chg: -0.62 stop: 36.99
Uh-oh! PCH has fallen back toward the bottom of its trading range and support near $37.00. This doesn't look good for us. If the major indices are weak tomorrow it wouldn't surprised us to be stopped out of PCH at $36.99.
Picked on June 04 at $39.39
Ryanair - RYAAY - close: 52.59 change: -0.37 stop: 51.34*new*
That's two days in a row that RYAAY has failed near the $53.45 level. The next move for the stock would appear to be a decline towards $52.00 and its 10-dma and 100-dma. We are raising the stop loss to breakeven at $51.34. We're not suggesting new plays. Our goal is the $53.90-54.00 range, where we expect RYAAY to have resistance at its trendline of lower highs.
Picked on June 08 at $51.34
Starbucks - SBUX - close: 36.09 chg: -0.33 stop: 34.98
We see no changes from our previous updates for SBUX. We are going to stick to our plan with a trigger to go long at $37.05. If triggered we'll target a rally into the $39.95-40.00 range.
Picked on June
xx at $xx.xx <-- see TRIGGER
Verizon Comm. - VZ - close: 32.74 change: -0.13 stop: 31.90 *new*
VZ erased yesterday's gain and more importantly appears to have produced a short-term (bearish) top near $33.25. The next move looks like it will be lower toward the 200-dma around $32.00. We are raising our stop loss to $31.90.
on June 18 at $32.54
Short Play Updates
Avid Tech. - AVID - close: 33.45 change: -0.75 stop: 37.35*new*
AVID continues to sell off. The stock lost another 2.19% on above average volume. We are lowering our stop loss to $37.35. More conservative traders may want to lock in some profits now. Our target is the $32.50 mark.
Picked on June 11 at $37.35
Cntrl Vermont Pub.Srv - CV - cls: 17.17 chg: +0.52 stop: 17.51 *new*
CV continued to bounce today and shares rallied right up to their three-week trend line of resistance (lower highs). We would use a decline back under $16.90 as a new entry point for shorts. Please note we're adjusting our stop loss to $17.51. Our target is the $15.50 level.
Picked on June 18 at $17.02
The Geo Group Inc. - GGI - cls: 33.45 chg: -0.36 stop: 35.05
We are not suggesting new short plays at this time. Our conservative target was the $32.25 level and our aggressive target is the $30.25 level. More conservative traders may want to tighten their stop losses.
Picked on June 11 at $34.14
Juniper Networks - JNPR - close: 15.80 chg: -0.03 stop: 17.05
JNPR is still not moving much but the pattern remains bearish. We're suggesting shorts with JNPR under $16.00. More conservative traders may want to see a new relative low under $15.65 first. Our target is the $14.10-14.00 range. We do not want to hold over the mid July earnings report. The P&F chart looks very bearish with an $8.50 target.
Picked on June 19 at $15.89
4 Kids Enter. - KDE - close: 15.42 change: -0.18 stop: 16.05
It looks like KDE has produced a failed rally under its 10-dma. Traders can use this as a new entry point for shorts. Our target is the $12.60-12.50 range.
Picked on June 19 at $15.45
Medtronic - MDT - close: 48.95 change: -0.43 stop: 51.01
MDT raises its quarterly dividend by 14% but that news doesn't stop the selling pressure. Shares drop another 0.8%. We do expect a bounce near the $48.00 level. Be ready for it. Our target is the $45.50-45.00 range. We do not want to hold over the August earnings report.
Picked on June 21 at $49.49
Middlesex Water - MSEX - close: 17.38 change: +0.88 stop: 17.75
MSEX actually experienced some volume today with a lot of action in the last couple of hours. Shares bounced around between $17.05 and $17.60. We would wait for a new decline under $16.90 before considering new shorts. Our target is the $15.15-15.00 range. The P&F chart points to a $12.00 target.
Picked on June 20 at $16.90
NitroMed - NTMD - close: 4.84 change: -0.18 stop: 5.71
The technicals on NTMD continue to grow more bearish. More conservative traders might want to tighten their stops toward the 50-dma (5.47). Our target is the $3.70-3.60 range.
Picked on June 18 at $ 5.07
Sun Hydraulics - SNHY - cls: 18.02 chg: -0.11 stop: 18.51
We remain very cautious here. SNHY hit our trigger on a spike down this Wednesday. While the lack of follow through on Wednesday's bounce is good we're not out of danger yet. We are not suggesting new bearish plays at this time.
Picked on June 21 at $17.45
Tellabs - TLAB - close: 14.19 change: -0.22 stop: 15.01
We are not suggesting new shorts and the takeover rumors significantly raises the risk level for being short this stock. Our target is the $12.50 mark just above the simple 200-dma. We do not want to hold over the company's July earnings report.
Picked on June 18 at $14.32
Closed Long Plays
Closed Short Plays
Blue Nile - NILE - close: 31.71 chg: +1.40 stop: 31.01
It looks like we should have taken our own suggestion to exit early. This morning before the opening bell Lehman Brothers upgraded NILE. The market reacted (shorts panicked) and NILE gapped open at $31.72 and closed with a 4.6% gain. We should have been closed at the open for a wider loss than planned.
Picked on June 08 at $29.45
Redback Networks - RBAK - cls: 21.00 chg: +0.34 stop: 21.01
We have been stopped out of RBAK. Shares traded over the $21.00 level today and closed over technical resistance at its 100-dma. Our stop loss was at $21.01. We would keep an eye on RBAK. The stock could be building a bear-flag pattern. Watch for a breakdown below its short-term pattern of higher lows.
Picked on June 19 at $19.75