Long Play Updates
Apria Healthcare - AHG - cls: 33.70 chg: -0.51 stop: 31.85
AHG is starting to show a little bit of profit taking. The trend is still bullish but momentum has definitely slowed. We're going to try and protect ourselves by raising the stop loss to $32.45. More conservative traders may want to raise theirs toward $33.00. Our target is the $35.75-36.00 range. We do not want to hold over the May 1st earnings report.
Picked on March 27 at $32.37
Brookfield Asset Mgmt - BAM - cls: 56.93 chg: -0.36 stop: 52.95
Overseas markets tanked last night as investors reacted negatively to a red-hot report on the Chinese economy. The world is worried that China will cut back to slow down its economy. This pushed the U.S. markets lower this morning. BAM spiked lower but traders bought the dip near short-term support at $56.00, which is also bolstered by its simple 10-dma. The rebound is encouraging but we're concerned about the broader market strength and hesitate to suggest new long positions. Our target is the $58.75-59.00 range. We do not want to hold over the early May earnings.
Picked on April 08 at $54.76
Basic Energy - BAS - cls: 25.12 chg: -0.08 stop: 23.19
Oil stocks were generally lower on Thursday. Investors were worried that China might cut back consumption to slow its economy. Plus there was some profit taking ahead of the May contract's expiration tomorrow. Shares of BAS held up relatively well with another bounce near its 10-dma and 200-dma. More conservative traders may want to tighten their stops toward $24.00 or maybe the 10-dma near $24.50. Our target is the $29.00-30.00 range. We do not want to hold over the early May earnings report.
Picked on April 12 at $25.39
Bristow Group - BRS - close: 37.17 chg: -0.15 stop: 35.74
BRS is still consolidating lower on decreasing volume. A bounce from current levels near $37.00 could be used as a new entry point but you might want to tighten your stop loss if you do open new positions. Our target is 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
C.H.Robinson Worldwide - CHRW - cls: 51.31 chg: +0.20 stop: 47.45
CHRW continues to show some relative strength. The overseas-inspired dip this morning was bought near support at the $50.00 level and its 50-dma. This rebound looks like a new entry point to buy CHRW. However, we would caution readers about the Dow Jones Transportation average, which is testing resistance and could be building a bearish double-top formation. Our target is the $54.00-54.50. Our target might be a little too optimistic given our time frame. We do not want to hold over the April 25th earnings report.
Picked on April 16 at $50.25
Cabot Oil - COG - close: 34.66 change: -0.44 stop: 33.45
There is no change from our previous updates on COG. We're still on the sidelines waiting for a breakout over resistance at $36.00. Our suggested trigger to buy the stock is at $36.15. If triggered our target is the $39.75-40.00 range. We do not want to hold over the April 30th earnings report.
Picked on April xx at $xx.xx <-- see TRIGGER
Citrix Sys. - CTXS - cls: 33.93 chg: -0.40 stop: 32.49
CTXS pulled back toward short-term support at its 10-dma. A bounce from here would look like a new entry point to buy the stock. Unfortunately, we're running out of time. We do not want to hold over the April 25th earnings report.
Picked on April 16 at $34.10
James River Coal - JRCC - cls: 9.00 chg: -0.42 stop: 8.49
It was a painful day for our speculative play in coal-producer JRCC. Shares lost 4.4% albeit on light volume. The stock looks poised to dip toward the $8.50 level. More conservative traders may want to exit now and try to capture a gain. Our target is the $9.90-10.00 range. We're not suggesting new positions at this time.
Picked on April 08 at $ 8.15
KLA-Tencor - KLAC - cls: 54.22 chg: -0.44 stop: 53.45 *new*
Semiconductor stock KLAC can't decide which way it wants to go. Traders bought the dip this morning but the rebound failed under its 10-dma. The afternoon dip was bought again near $54 and the bottom of its current trading range. We're running out of time. If you think KLAC will run up ahead of earnings then buy a bounce from here and tighten the stop toward today's low (53.68). We're going to tighten our stop loss to $53.45. We don't want to hold over the April 26th earnings. Our target is the $59.50-60.00 range.
Picked on April 04 at $55.15
Microsoft - MSFT - cls: 28.69 chg: +0.09 stop: 28.19 *new*
Traders bought the dip in MSFT this morning but shares didn't get very far. We're quickly running out of time. We'll try and reduce our risk by raising the stop loss toward $28.19, just under today's low and under the 50-dma. Our target is the $30.50-31.50 range. We don't want to hold over the April 26th earnings report.
Picked on April 17 at $28.85
NVIDIA Corp. - NVDA - cls: 31.52 chg: +0.43 stop: 27.99
NVDA displayed some relative strength with a 1.38% gain and a new one-month closing high. This looks like another entry point but we want to warn readers that we're concerned about the market's internals lately. Our target is the $34.50-35.00 range. Beware the simple 100-dma looming overhead as potential resistance.
Picked on April 15 at $30.58
UNIT Crp. - UNT - cls: 54.29 chg: -0.58 stop: 51.75
UNT is still seeing profit taking after its big rally from the $50 level. We are not suggesting new positions at this time. More conservative traders may want to exit early to lock in a gain. We do not want to hold over the late April earnings report. Our target is the $58-60 range.
Picked on April 08 at $51.95
Short Play Updates
Closed Long Plays
Arrow Elctr. - ARW - cls: 40.70 chg: -0.20 stop: 37.99
We are giving up on ARW. Trading in the stock has looked bearish over the last few days and today's move looks like another bearish development. Volume was very strong on yet another failed rally. We're suggesting an early exit immediately.
Picked on April 09 at $40.15
Closed Short Plays