Long Play Updates
Apria Healthcare - AHG - cls: 32.25 chg: -0.04 stop: 29.99
Unfortunately, we don't have anything new to report on for AHG. The stock continues to trade sideways in a relatively narrow range. On the other hand shares are still in a bullish pattern and look like the path of least resistance is up. We would still consider new positions now but more conservative traders may want to wait for a rally past $32.50 (or even over $33.00) before considering new positions. Our stop loss is under the $30.00 mark but more conservative traders may want to tighten theirs toward the 50-dma. 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: 36.45 chg: -0.04 stop: 34.99
Friday proved to be something of a volatile day for BRS. The stock spiked to $36.92 and then dipped to $35.95 before settling almost unchanged on the session. Shares continue to trade inside a wide, rising channel. Yet we are surprised that BRS didn't rally more strongly this week given the strength in oil. The market wrap tonight discusses the conflict with Iran and we think it's only going to get worse, which will drive oil higher. Thus, given BRS' afternoon bounce on Friday readers may want to buy the rebound. More conservative traders might want to tighten their stops toward last week's low. 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: 55.19 chg: -1.23 stop: 51.95
CNQ experienced a strong week with a big surge and breakout higher but gave back 2.1% o Friday. Shares were looking a little short-term overbought so some profit taking is not out of the ordinary. Watch for a dip toward $54.00 and the 10-dma as a good spot to buy the dip. Our target is the $58.00-60.00 range. FYI: The P&F chart is bullish with a $71 target.
Picked on March 21 at $53.05
eBay Inc. - EBAY - close: 33.15 chg: +0.11 stop: 29.85
EBAY is still inching higher. If we have patience it looks like shares might hit our conservative target in the $33.85-34.00 range in the next several days. Our aggressive target in the $37-38 zone might be too optimistic given resistance at $34.00 and our plan to exit ahead of EBAY's April earnings. We're not suggesting new positions at this time. More conservative traders may want to tighten their stops.
Picked on March 05 at $30.49
EMC Corp. - EMC - cls: 13.85 chg: +0.19 stop: 12.95 *new*
EMC displayed some relative strength on Friday with a 1.39% gain. The stock managed to close over technical resistance at its 50-dma but failed to breakout over its highs from last week near $13.90. We remain optimistic but we're not suggesting new positions at this time (if you missed today's entry point). Please note that we're tightening our stop loss to $12.95. 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: 30.34 chg: -0.17 stop: 27.95
HP is still consolidating sideways after failing to breakout over resistance at the $31.00 level. Thus far short-term support at $30.00 is holding but we would not be surprised to see a deeper decline towards $29.00. We remain bullish on oil but hesitate to suggest new positions in HP at this time. More conservative traders may want to lock in a gain now. Our target is the $32.50 mark.
Picked on March 19 at $28.77 *gap higher*
KLA-Tencor - KLAC - cls: 53.32 chg: -0.15 stop: 52.75
Some of the semiconductor stocks were upgraded on Friday but KLAC wasn't one of them and stock continued to struggle. Thus far we're still on the sidelines. Our plan is to wait for a breakout over resistance near $55.00 with a trigger to go long at $55.15. However, more nimble traders might want to consider buying a dip. We expect that KLAC is poised to dip towards $52.50-52.00. If you see a convincing bounce above $52.00 aggressive traders might want to buy it after adjusting their stop loss. 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 two weeks, which may be too optimistic. FYI: The P&F chart is bullish with a $69 target.
Picked on March xx at $xx.xx <-- see TRIGGER
TEPPCO Part. - TPP - close: 44.40 chg: +0.13 stop: 43.45 *new*
TPP climbed to another new 52-week high on Friday. The stock is nearing our target in the $44.90-45.00 range (and resistance dating back to early 2005). We are not suggesting new positions. We are adjusting our stop loss to $43.45. The Point & Figure chart is very bullish with a $67 target.
on March 06 at $42.88
Short Play Updates
Closed Long Plays
Northwest Pipe Co. - NWPX - cls: 39.83 chg: +0.82 stop: 34.95
Target achieved. NWPX continued to rally and hit an intraday high of $40.11 on Friday. Our target was the $39.85-40.00 range. The $40.00 level looks like resistance so if you didn't exit we strongly suggest that you tighten your stop.
Picked on March 25 at $36.85
Closed Short Plays