Long Play Updates
Apria Healthcare - AHG - cls: 32.29 chg: +0.15 stop: 29.99
AHG continues to trade sideways. Traders bought the dip (again) near $32.00 but AHG really isn't making much headway. More conservative traders may want to wait for a rally past $32.50 (or even over $33.00) before considering new positions. We'll put our stop at $29.99 while conservative types might want to use a tighter stop. Our target is the $35.75-36.00 range. We do not want to hold over the late April earnings report.
Picked on March 27 at $32.37
Bristow Group - BRS - close: 36.49 chg: +0.51 stop: 34.99
Another strong day for crude oil actually rubbed off on BRS. The stock rallied 1.4% and almost erased yesterday's losses. This bounce looks like a new entry point to buy the stock. More conservative traders may want to use a tighter stop near $35.30. Our target is the February highs in the $38.40-38.50 range. FYI: The P&F chart is bullish and points to a $47 target.
Picked on March 11 at $35.88
Canadan Nat.Res. - CNQ - cls: 56.42 chg: +1.09 stop: 51.95 *new*
The surge in crude also pulled CNQ higher. Shares of CNQ managed to breakout past resistance near $56.00. There doesn't appear to be anything that will stand in the way of a rally toward our target at $58.00-60.00. We're adjusting the stop loss to $51.95.
Picked on March 21
eBay Inc. - EBAY - close: 33.04 chg: -0.07 stop: 29.85
Tech stocks under performed most of the session and remained laggards as the markets headed into the closing bell. EBAY managed to recoup most of its losses but still dropped 0.2%. We are not suggesting new positions at this time. More conservative traders may want to tighten their stops. We have two targets. Our first, more conservative target, will be the $33.85-34.00 range, since EBAY has resistance near the $34.00 level. Our second, more aggressive target, will be the $37.00-38.00 zone. FYI: We do not want to hold over the late April earnings.
Picked on March 05 at $30.49
EMC Corp. - EMC - cls: 13.66 chg: +0.17 stop: 12.74
EMC managed a bounce near the $13.50 level late this afternoon. We see the rebound as a new entry point to buy the stock. More conservative traders may want to wait for a breakout past the 50-dma near $13.76. More conservative traders may want to adjust their stop toward $13.00. Our target is the $14.50-15.00 range. FYI: The P&F chart is still bearish from the February-March sell-off.
Picked on March 21 at $13.26
Helmerich Payne - HP - cls: 30.51 chg: +0.24 stop: 27.95
HP produced an intraday bounce at short-term support near $30.00 and its rising 10-dma. This looks like a new entry point to buy the stock except shares have short-term resistance at $31.00. More conservative traders may want to lock in a gain now. Our target is the $32.50 mark.
on March 19 at $28.77 *gap higher*
KLA-Tencor - KLAC - cls: 53.47 chg: +0.12 stop: 52.75
More nimble, aggressive traders may want to buy this intraday bounce in KLAC. We're going to stick to our plan and wait for a breakout over resistance near $55.00. Our suggested trigger to buy the stock is at $55.15. If triggered our target is the $59.50-60.00 range. Before opening positions consider our time frame. We do not want to hold over the mid-April earnings report. That gives us about three weeks, which may be a little optimistic. FYI: The P&F chart is bullish with a $69 target.
Picked on March xx at $xx.xx <-- see TRIGGER
Northwest Pipe Co. - NWPX - cls: 39.01 chg: +0.60 stop: 34.95
NWPX gapped open higher and closed with a 1.5% gain. We suspect the strength today was due to news that United States Steel (X) announced a bid to buy Lone Star Tech (LSS). The intraday high for NWPX was $39.50, which is getting closer to our target in the $39.85-40.00 range. More aggressive traders may want to aim higher. The P&F chart points to a $53 target.
Picked on March 25 at $36.85
TEPPCO Part. - TPP - close: 44.27 chg: +0.27 stop: 41.95
After trading sideways all day the afternoon market rally lifted TPP to a new 52-week high. We are not suggesting new positions at this time. More conservative traders may want to tighten their stops. Our target is the $44.90-45.00 range. The Point & Figure chart is very bullish with a $67 target.
on March 06 at $42.88
Short Play Updates
Closed Long Plays
Closed Short Plays