Long Play Updates
ACADIA - ACAD - close: 9.83 chg: +0.50 stop: 8.85 *new*
Another strong day for biotechs and ACAD out performed the broader market and its peers. The stock rose 5.3% with most of the gains coming in the last hour. Shares are very close to our target in the $9.95-10.00 range. We're raising the stop loss to $8.85.
Picked on October 05 at $ 8.85
Arch Coal - ACI - close: 31.04 change: +1.01 stop: 27.99
Coal stocks turned in a strong performance on Thursday. Shares of ACI added 3.3% and look poised to challenge the 50-dma soon. Our target is the $34.00-35.00 range. We only have a few days since we want to avoid holding over ACI's earnings report.
Picked on October 10 at $30.32
Anheuser-Busch - BUD - close: 47.69 change: +0.22 stop: 46.85
We're growing increasingly concerned with BUD. The stock did add 0.4% today but shares really failed to participate with the strength in the broader market. The stock remains inside its $47-48 trading range. If the stock doesn't turn higher tomorrow we'll probably cut our losses and exit early! We are not suggesting new positions with BUD under $48.20.
Picked on October 10 at $48.21
D.R.Horton - DHI - close: 24.80 change: +0.61 stop: 22.99
Homebuilders were another very strong sector on Thursday. DHI added 2.5% but volume continues to come in light. We're waiting for a breakout over resistance and we're suggesting a trigger to go long at $25.51. If triggered at $25.51 our target is the $29.00-30.00 range although more conservative traders may want to exit at the 200-dma currently near 28.55.
Picked on October
xx at $xx.xx <-- see TRIGGER
IAC/InterActive - IACI - close: 29.43 change: +0.40 stop: 28.69
Volume in IACI is getting worse. The stock added 1.3% following yesterday's intraday bounce, which would normally look pretty bullish but we're not sure we can trust it without any volume behind it. We would be extra cautious if you're opening new positions. Our target is the $31.40-31.50 range. We do not want to hold over the late October earnings report.
Picked on October 04 at $29.73
Intl. Game Tech. - IGT - cls: 42.50 chg: +0.37 stop: 40.95 *new*
IGT is still inching higher. We're not suggesting new positions at this time. Please note we're raising the stop loss to $40.95. Our target is the $44.00-45.00 range. We do not want to hold over the early November earnings report.
Picked on September 17 at $40.26
Ingersoll-Rand - IR - close: 40.12 chg: -0.08 stop: 37.99
IR failed to participate with the market's broad-based rally on Thursday. This relative weakness is discouraging, especially with volume rising to above average levels today. Traders might want to wait for a dip/bounce near $39.00-39.50 as the next entry point. We do not want to hold over the October 27th earnings report so our short-term target is the $43.00-43.50 range. We'll raise our stop loss once we see IR push past potential overhead resistance at its 200-dma near 40.75.
Picked on October 08 at $40.20
Kinetic Concepts - KCI - cls: 32.09 chg: -0.17 stop: 31.49 *new*
KCI displayed relative weakness with a 0.5% decline. This is not a good sign given the strength in the markets. More conservative traders may want to exit early right here. We're going to raise our stop loss to $31.49. We're not suggesting new positions at this time. We do not want to hold over the late October earnings report.
on October 08 at $33.35
Acc. Home Lenders - LEND - cls: 35.85 chg: +0.80 stop: 34.95
Aggressive traders might want to consider long positions on today's 2.2% bounce in LEND. We're still waiting for a breakout over resistance near $37.00. We're suggesting a trigger to go long at $37.16. If triggered our target is the $42.00-42.50 range. Please note that there is potential resistance at the bottom of its gap down at $38.71, and potential resistance at $40.00. The P&F chart is positive with a $50 target. We do not want to hold over the late October earnings report.
Picked on October xx at $xx.xx <-- see TRIGGER
PDL BioPharma - PDLI - close: 20.52 chg: +0.39 stop: 18.69
Biotech stocks continued to rally and PDLI added just over 1.9%. Today's bounce from the $20 region looks like a new entry point to go long the stock. More conservative traders may want to tighten their stops. Our target is the $22.25-22.50 range. We do not want to hold over the early November earnings report.
Picked on October 05 at $20.11
Titanium Metals - TIE - close: 27.69 change: +0.48 stop: 25.49
TIE continues to rise although we noted that volume came in low today. We'd still consider new positions at this time. Our target is the $29.90-30.00 range. We don't want to hold over the October 23rd earnings report (still an unconfirmed date).
Picked on October 11 at $27.01
Short Play Updates
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