Long Play Updates
Apria Healthcare - AHG - cls: 33.18 chg: -0.04 stop: 30.79
AHG suffered some minor profit taking after yesterday's strong gains. We were encouraged to see the $33.00 level hold as potential support. Should the stock dip again the $32.50 level would be a good spot to look for an entry point. 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: 36.01 chg: -0.20 stop: 34.99
BRS continued to consolidate lower. The stock lost 0.5% and tested the $36.00 level and its 100-dma. A bounce from here could be used as a new entry point but we hesitate to suggest new positions given the stock's relative weakness lately. 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: 57.01 chg: +0.77 stop: 53.05 *new*
It was a volatile day for crude oil. News that Iran was releasing the captured Britons sent oil lower but this morning's oil and gas inventory report sent the commodity and stocks higher. Shares of CNQ gapped down but eventually rallied to a new relative high. The stock is nearing our target in the $58.00-60.00 range. We are raising our stop loss to $53.05. FYI: The P&F chart is bullish with a $71 target.
Picked on March 21 at $53.05
eBay Inc. - EBAY - close: 33.72 chg: -0.08 stop: 30.49
EBAY suffered some minor profit taking after hitting our conservative target in the $33.85-34.00 range yesterday. The stock is consolidating under heavy resistance near $34.00. We are not suggesting new plays but aggressive traders might want to consider new positions if EBAY can produce a new relative high over $34.35. 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. Please note that we're adjusting the stop to breakeven at $30.49.
Picked on March 05 at $30.49
EMC Corp. - EMC - cls: 14.35 chg: +0.06 stop: 13.24
We repeat our suggestion from Tuesday that more conservative traders may want to exit now and lock in a gain. EMC hit an intraday high of $14.40. Our target is the $14.50-15.00 range. We are not suggesting new positions.
Picked on March 21 at $13.26
Helmerich Payne - HP - cls: 30.65 chg: -0.05 stop: 28.49
Traders bought the dip in HP again. The stock slipped toward the bottom of its trading range near $30.00 this morning. HP bounced back on strong volume but failed to turn green for the day. More conservative traders may want to lock in a gain now or raise their stop toward $30.00. Our target is the $32.50 mark.
Picked on March 19 at $28.77 *gap higher*
KLA-Tencor - KLAC - cls: 55.24 chg: +1.02 stop: 52.75
Our bullish play in KLAC is now open. KLAC was upgraded to a "buy" this morning and the stock gapped open higher at $54.74 and then rallied to a 1.88% gain on above average volume. Our suggested trigger to buy the stock was $55.15. Now that the play is open our target is the $59.50-60.00 range. Please note that we do not want to hold over the late April earnings report now expected around the 23rd of the month. FYI: The P&F chart is bullish with a $69 target.
Picked on April 04 at $55.15
TEPPCO Part. - TPP - close: 44.60 chg: +0.04 stop: 43.45
TPP continues to inch higher. The stock is nearing our target in the $44.90-45.00 range but more conservative traders may want to exit early now. We're not suggesting new positions. The Point & Figure chart is very bullish with a $67 target.
Picked on March 06 at $42.88
Titan Intl - TWI - cls: 26.66 chg: +0.55 stop: 24.89
Our new play in TWI is off to a good start. Shares broke out higher and closed with a 2.1% gain. Our only complaint would be the lack of volume behind the move, which doesn't inspire a lot of confidence in the breakout. Yet we do note that the MACD has produced a new buy signal today. Our suggested trigger to buy the stock was at $26.25. Now that the play is open our target is the $27.90-28.00 range. More aggressive traders may want to use a wider stop.
Picked on April 04 at $26.25
Short Play Updates
Hovnanian - HOV - cls: 23.96 chg: -0.57 stop: 26.76
There was no follow through on Tuesday's bounce in the homebuilders. Shares of HOV continued to slip and lost 2.3% to close at a new relative low. We don't see any changes from our previous comments. 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
Closed Long Plays
Closed Short Plays