Long Play Updates
Aetna - AET - close: 44.85 change: +0.63 stop: 42.95
Traders bought the dip in AET this morning and shares rebounded sharply to close up 1.4%. Today's trading has created a bullish engulfing candlestick or a bullish reversal pattern. We would buy this bounce. More conservative traders may want to tighten their stops. Our target is the $49.00-50.00 range. FYI: The P&F chart points to a $65 target.
Picked on February 18 at $45.61
eBay Inc. - EBAY - close: 31.93 chg: -0.13 stop: 29.49
We do not see any changes from our new play description from Wednesday night. EBAY dipped to $30.75 this morning and quickly bounced. We're suggesting that readers use an entry in the $30.50-30.00 range. Fortunately, it looks like we might get another chance tomorrow since the market's and EBAY's bounce today was struggling this afternoon. Our official trigger to buy the stock will be at $30.49. We would definitely wait for signs of a bounce before initiating plays. If triggered we will have two targets. Our first, more conservative target, will be the $33.85-34.00 range. Our second, more aggressive target, will be the $37.00-38.00 zone.
Picked on February xx at $xx.xx <-- see TRIGGER
Intl. Speedway - ISCA - cls: 53.15 chg: -0.05 stop: 52.64
If ISCA doesn't show some strength tomorrow we're going to drop it and we would suggest readers exit on Friday at the closing bell. The stock has produced two failed rallies under its simple 10-dma in the last two sessions. More aggressive traders might want to weather the storm but consider putting your stop loss under technical support at its rising 100-dma near 52.33. More conservative traders should strongly consider an early exit right now to limit any losses. We are not suggesting new positions at this time.
Picked on February 21
Level 3 Comm. - LVLT - cls: 6.33 chg: -0.24 stop: 6.46
LVLT completely reversed yesterday's gains. We do not see any changes from our new play description from Wednesday night. However, more aggressive traders might want to consider buying a dip or a bounce near its rising 50-dma around $6.13. If you do we'd probably stick our stop under $6.00. Currently our plan calls for a breakout over resistance in the $6.75-6.80 region. We're suggesting a trigger to buy the stock at $6.81. If triggered our target is the $7.35-7.40 range as LVLT has long-term resistance near $7.40. More aggressive traders may want to aim higher near $8.00. The P&F chart is very bullish with a $12.75 target.
Picked on February xx at $xx.xx <-- see TRIGGER
Ross Stores - ROST - close: 32.63 change: -0.14 stop: 31.45
Retail stocks continued to feel the selling pressure. The RLX retail index was very weak this morning with a spike down toward the 500 level. ROST produced a similar spike down this morning before bouncing back. Shares are currently in a short-term bearish trend of lower highs and lower lows. More conservative traders may want to seriously consider an early exit right here to limit any losses. We are not suggesting new plays at this time. If ROST doesn't breakout over the $33.00 level tomorrow we might just cut our losses and run.
Picked on February 14 at $33.75
Short Play Updates
Avid Tech. - AVID - close: 32.75 chg: -0.65 stop: 35.05
AVID displayed some weakness today with a spike down toward support near $32.00. Shares closed with a 1.9% loss. Traders bought the dip near $32.00 again. More conservative traders may want to tighten their stops toward the $34.00 level (maybe near $34.10). We're not suggesting new positions at this time. Our target is the $30.50-30.00 range. FYI: Readers should note that the most recent (January) data puts short interest at 12.2% of AVID's 40.9 million-share float, which is relatively high and raises the risk of a short squeeze.
Picked on February 05 at $34.65
Comptr.Prog.&Sys - CPSI - cls: 28.27 chg: -0.51 stop: 30.55
CPSI slipped 1.77% by the closing bell although volume came in pretty low. Shares are inching closer toward support near the bottom of its trading range and CPSI might see a breakdown soon. More conservative traders may want to tighten their stops toward $30.00. Our target is the $25.50-25.00 range. The P&F chart points to an $18 target. The most recent (January) data puts short interest at 10.3% of the company's 9.3 million-share float. That is a high amount of short interest and with such a small float it really increases the risk of a short squeeze so trade cautiously!
Picked on February 06 at $29.52
Cash Amer. - CSH - close: 40.68 chg: +0.04 stop: 43.55
We were denied again! CSH dipped to $39.58 before bouncing back and closing in the green. Our suggested exit range is the $39.50-39.00 zone. More conservative traders might want to exit on another dip under $40.00. We're not suggesting new positions.
Picked on February 11 at $42.51
Closed Long Plays
Closed Short Plays