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Long Play Updates

Apria Healthcare - AHG - cls: 32.42 chg: +0.17 stop: 29.99

AHG spent Monday's session stuck in its trading range but the afternoon saw a rally toward the top of its range. Shares could be poised to breakout soon. Readers can choose to buy this bounce or wait for a breakout over $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
Change since picked: + 0.05
Earnings Date 04/24/07 (unconfirmed)
Average Daily Volume: 910 thousand

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Bristow Group - BRS - close: 36.48 chg: +0.03 stop: 34.99

An intraday rally and then pull back in crude oil failed to have any big impact on BRS. The larger pattern continues to look bullish but short-term the lack of upward momentum is weighing on the indicators. 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
Change since picked: + 0.60
Earnings Date 05/07/07 (unconfirmed)
Average Daily Volume: 243 thousand

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Canadan Nat.Res. - CNQ - cls: 56.20 chg: +1.01 stop: 51.95

CNQ is still marching higher. Shares rose 1.8% and closed back above potential resistance at the $56 level. Lack of follow through lower on Friday's decline is a positive sign. 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
Change since picked: + 3.15
Earnings Date 03/07/07 (confirmed)
Average Daily Volume: 2.0 million

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eBay Inc. - EBAY - close: 33.00 chg: -0.15 stop: 29.85

We do not see any changes from our weekend updates on EBAY. The intermediate trend looks bullish but short-term the stock is stuck going sideways. 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
Change since picked: + 2.51
Earnings Date 04/25/07 (unconfirmed)
Average Daily Volume: 18 million

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EMC Corp. - EMC - cls: 14.09 chg: +0.24 stop: 13.24 *new*

The rally in EMC continued into Monday's session. Shares broke out over potential resistance at the $14.00 mark. EMC closed up 1.7% to out perform its peers in tech and the market in general. We are adjusting our stop loss to $13.24. More conservative traders might want to take some money off the table or maybe tighten your target near $14.30-14.35. We continue to aim for the $14.50-15.00 range.

Picked on March 21 at $13.26
Change since picked: + 0.83
Earnings Date 04/17/07 (unconfirmed)
Average Daily Volume: 29.1 million

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Helmerich Payne - HP - cls: 30.63 chg: +0.29 stop: 27.95

Traders bought the dip near $30.15 this morning and HP out performed the market with a 0.9% gain. Unfortunately, the stock is still under short-term resistance near $31.00. 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*
Change since picked: + 1.86
Earnings Date 05/03/07 (unconfirmed)
Average Daily Volume: 1.4 million

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Kinetic Concepts - KCI - cls: 51.42 chg: +0.78 stop: 48.89

KCI's rebound continued into Monday. The stock rose 1.5% and broke out over potential resistance at the $51.00 level. Volume came in about above but that's better than what KCI has witnessed lately. We don't see any changes from our weekend comments. Technical indicators are turning bullish again. We're suggesting long positions now given Friday's bounce. More conservative traders may want to wait for a breakout past $51.20, the March 23rd high, or wait for a new relative high over $52.55. Bear in mind that our short-term target is the $54.75-55.00 range. FYI: The P&F chart is very bullish with a $99 target. We do not want to hold over the late April earnings report.

Picked on April 01 at $50.64
Change since picked: + 0.78
Earnings Date 04/24/07 (unconfirmed)
Average Daily Volume: 962 thousand

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KLA-Tencor - KLAC - cls: 53.51 chg: +0.19 stop: 52.75

We don't see any changes from our previous comments on KLAC. The stock continues to have a bullish pattern of higher lows but we're sticking to our game plan. 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. 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
Change since picked: + 0.00
Earnings Date 04/16/07 (unconfirmed)
Average Daily Volume: 4.9 million

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TEPPCO Part. - TPP - close: 44.45 chg: +0.05 stop: 43.45

It's a battle but TPP is still inching higher. The stock dipped to $44.00 this morning but traders jumped in at the pull back and shares hit another new relative high midday. Our target is the $44.90-45.00 range. We are not suggesting new positions. The Point & Figure chart is very bullish with a $67 target.

Picked on March 06 at $42.88
Change since picked: + 1.57
Earnings Date 02/07/07 (confirmed)
Average Daily Volume: 142 thousand
 

Short Play Updates

Hovnanian - HOV - cls: 24.37 chg: -0.79 stop: 26.76

More news about trouble in the sub-prime loan market, thanks to M&T Bank, sent new shivers down the homebuilding sector. The DJUSHB index slipped 1.29%. Shares of HOV under performed its peers, broke down under the $25.00 level, and closed with a 3.1% loss. Our suggested trigger to short the stock was at $24.69 so the play is now open. Volume behind today's move was strong, which is a good sign for the bears. Our target is the $20.50-20.00 range. FYI: HOV does have a very high amount of short interest at almost 35% of the 31.3 million-share float. That does raise the risk of a short squeeze should the stock suddenly move higher!

Picked on April 02 at $24.69
Change since picked: - 0.32
Earnings Date 06/07/07 (unconfirmed)
Average Daily Volume: 1.9 million
 

Closed Long Plays

None
 

Closed Short Plays

None
 

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