Option Investor
Play Updates

In Play Updates and Reviews

HAVING TROUBLE PRINTING?
Printer friendly version

Long Play Updates

Asta Funding - ASFI - close: 35.57 change: -0.15 stop: 33.95

Trading in the markets today felt pretty bearish. The major averages look poised to move lower. We would not consider new bullish positions at this time. There are no other changes from our previous updates on ASFI. Our target is the $39.95-40.00 range.

Picked on June 23 at $36.01
Change since picked: - 0.44
Earnings Date 08/08/06 (unconfirmed)
Average Daily Volume: 165 thousand

---

A.S.V.Inc. - ASVI - close: 21.69 change: -0.06 stop: 19.99

With a six-cent loss it does not look like ASVI participated in the market's weakness today. However, we would not consider new bullish positions at this time. Our target is the $23.50-24.00 range (for now).

Picked on June 18 at $21.20
Change since picked: + 0.49
Earnings Date 07/27/06 (unconfirmed)
Average Daily Volume: 463 thousand

---

Syneron Med. - ELOS - close: 20.58 change: -0.26 stop: 19.99

The technical picture for ELOS is spoiling and starting to turn bearish. There is still a decent chance that ELOS will bounce from support near the $20.00 level. However, if the markets continue to drop we would bet on being stopped out. More conservative traders may want to consider cutting their losses here or near $20.50.

Picked on June 21 at $21.51
Change since picked: - 0.93
Earnings Date 08/03/06 (unconfirmed)
Average Daily Volume: 615 thousand

---

Energy Transfer - ETP - close: 45.63 chg: +0.23 stop: 42.49

Rising crude oil and recent merger news in the energy sector continue to lift ETP. The stock is nearing potential resistance in the $45.80-46.00 region and we do expect a pull back once this area is hit. A dip to $44.50 could be used as a new entry point for longs. Our target is the $47.50-48.00 range.

Picked on June 18 at $44.25
Change since picked: + 1.38
Earnings Date 07/10/06 (unconfirmed)
Average Daily Volume: 149 thousand

---

Ryder Systems - R - close: 55.63 chg: -0.69 stop: 54.75*new*

The breakdown below $56.00 is not a good sign for bulls. Shares of R look ready to drop toward the $55.00 level. We're concerned about the weakness in the major averages today. We'll try and reduce our risk here by raising the stop loss to $54.75. We would not consider new bullish positions at this time.

Picked on June 25 at $56.35
Change since picked: - 0.72
Earnings Date 07/27/06 (unconfirmed)
Average Daily Volume: 644 thousand

---

Starbucks - SBUX - close: 35.74 chg: -0.75 stop: 34.98

We see no changes from our weekend update on SBUX. Our trigger to go long the stock is at $37.05 so we remain on the sidelines for now. More conservative traders may want to raise their trigger to $37.15 or $37.25 just to make sure that we're catching a real breakout past resistance. If triggered we'll target a rally into the $39.95-40.00 range.

Picked on June xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 08/02/06 (unconfirmed)
Average Daily Volume: 6.0 million

---

Verizon Comm. - VZ - close: 32.44 change: -0.34 stop: 31.90

There are no surprises here. We've been warning readers to look for a dip to the 10-dma and probably a dip to the 200-dma near $32.00. VZ delivered a dip to the 10-dma today. We'd look for a bounce in the $32.00-32.25 region as a potential entry point but if the major averages are sinking when this occurs we'd hesitate to open new bullish positions. Our target is the $34.75-35.00 range.

Picked on June 18 at $32.54
Change since picked: - 0.10
Earnings Date 07/25/06 (unconfirmed)
Average Daily Volume: 9.8 million
 

Short Play Updates

The Geo Group Inc. - GGI - cls: 32.43 chg: -0.97 stop: 35.05

GGI lost 2.9% and is nearing our conservative target near $32.25 again. Our conservative target at $32.25 has already been hit. We're going to adjust our aggressive target from $30.25 to $31.00 due to the rising 100-dma, currently at $30.85.

Picked on June 11 at $34.14
Change since picked: - 1.71
Earnings Date 05/04/06 (confirmed)
Average Daily Volume: 135 thousand

---

Juniper Networks - JNPR - close: 15.42 chg: -0.41 stop: 17.05

We are finally seeing some follow through lower on JNPR. The stock lost 2.59% to close at a new one-month low. Yet it's worth noting that volume came in very low today, which could be a warning sign. 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
Change since picked: - 0.47
Earnings Date 07/19/06 (unconfirmed)
Average Daily Volume: 13.8 million

---

4 Kids Enter. - KDE - close: 15.43 change: +0.03 stop: 16.05

We do not see any news to explain the intraday rally in KDE. Shares traded to $15.90 before sinking again. Volume came in above average on the session. We would be careful here and probably look for a new decline under $15.30 before considering new shorts. Our target is the $12.60-12.50 range. The P&F chart sports a triple-bottom breakdown sell signal with an $11.50 target.

Picked on June 19 at $15.45
Change since picked: - 0.02
Earnings Date 08/09/06 (unconfirmed)
Average Daily Volume: 113 thousand

---

Medtronic - MDT - close: 47.24 change: -1.04 stop: 51.01

We were pleasantly surprised to see MDT breakdown under the $48.00 level with today's 2.1% decline. We had been expecting a bounce. This is a very bearish development but we still expect a bounce soon because MDT is looking short-term oversold. 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
Change since picked: - 2.25
Earnings Date 08/22/06 (unconfirmed)
Average Daily Volume: 10.8 million

---

Middlesex Water - MSEX - close: 17.02 change: -0.12 stop: 17.75

We see no changes from our weekend update on MSEX. We are not suggesting new short positions until MSEX trades back under $17.00 or $16.90 again. 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
Change since picked: + 0.24
Earnings Date 05/08/06 (confirmed)
Average Daily Volume: 28 thousand

---

NitroMed - NTMD - close: 4.37 change: -0.31 stop: 5.31*new*

NTMD continues to sink and shares lost another 6.6% today. The MACD on the daily chart is nearing a new sell signal. We are not suggesting new plays at this time. Instead we're going to lower our stop loss to $5.31, near its simple 50-dma. Conservative traders may want to begin taking some profits since NTMD is down more than 13% from our picked price. Our target is the $3.70-3.60 range but we are thinking about adjusting it to the $4.05-4.00 range.

Picked on June 18 at $ 5.07
Change since picked: - 0.70
Earnings Date 07/31/06 (unconfirmed)
Average Daily Volume: 710 thousand
 

Closed Long Plays

Ryland Group - RYL - close: 43.60 chg: -1.77 stop: 43.99

It looks like yesterday's strength was a fluke. We've been stopped out at $43.99. The homebuilders lost 3.1% following some disappointing sales numbers on existing homes. Shares of RYL lost 3.9% and closed under the 10-dma.

Picked on June 26 at $45.31
Change since picked: - 1.71
Earnings Date 07/19/06 (confirmed)
Average Daily Volume: 1.5 million
 

Closed Short Plays

Sun Hydraulics - SNHY - cls: 18.78 chg: +0.30 stop: 18.51

As expected we were stopped out today at $18.51 (actually 18.52 since shares gapped higher this morning). At this time we can't find any specific news to account for the stock's short-term strength.

Picked on June 21 at $17.45
Change since picked: + 1.33
Earnings Date 08/08/06 (unconfirmed)
Average Daily Volume: 89 thousand

---

Tellabs - TLAB - close: 12.80 change: -0.70 stop: 14.81

Target achieved. Shares of TLAB lost more than 5% today on strong volume and closed under potential support at $13.00 and its exponential 200-dma. Our target was the $13.00-12.75 range.

Picked on June 18 at $14.32
Change since picked: - 1.52
Earnings Date 07/25/06 (unconfirmed)
Average Daily Volume: 5.9 million
 

Premier Investor Play Update Archives