Long Play Updates
Archer Daniels Midland - ADM - cls: 39.31 chg: +0.35 stop: 36.95
ADM posted another gain, it's third in a row. The stock rose 0.89% after an analyst firm started coverage with an "overweight" rating. Another firm started coverage with a "neutral" rating. We remain bullish but shares could be due for a dip back toward $38.50. There is some resistance near $40 but our target is the $42.00-42.50 range. We don't have much time. Our plan is to exit on Monday, April 30th to avoid holding over earnings on May 1st. FYI: Our target is a little optimistic given the time frame and more conservative traders may want to exit near $40.00.
Picked on April 22 at $38.55
Apria Healthcare - AHG - cls: 33.82 chg: -0.10 stop: 32.45
We were expecting more follow through to the upside on Tuesday but AHG merely churned sideways again. Volume did begin to pick up, which is a concern given the lack of upward movement. We're not suggesting new positions at this time. Conservative traders might want to tighten their stop towards $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: 57.07 chg: -0.12 stop: 53.89
Today was something of a non-event for BAM. Tuesday's twelve-cent loss doesn't look like a big confirmation of yesterday's reversal. Yet the stock failed from its bullish channel higher. We are not suggesting new positions. More conservative traders may want to lock in a gain here. Our target is the $58.75-59.00 range.
Picked on April 08 at $54.76
Basic Energy - BAS - cls: 25.75 chg: -0.20 stop: 23.19
Oil stocks struggled a bit after crude lost 2.4% today. Fortunately, traders bought the dip in BAS again at its rising 10-dma. This looks like another entry point to buy the stock. The stock now looks poised to breakout over $26. 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: 37.65 chg: -0.17 stop: 36.45
We are not suggesting new positions in BRS at this time. IF shares breakdown under its 10-dma near today's low more conservative traders may want to consider an early exit. Our target is the $38.40-38.50 range. FYI: The P&F chart is bullish and points to a $47 target. We do not want to hold over the early May earnings report.
Picked on March 11 at $35.88
Cabot Oil - COG - close: 35.92 change: -0.08 stop: 33.45
COG held up relatively well considering the 2.4% reversal in crude oil today. We remain bullish on COG but traders can choose to wait for a new relative high ($36.38) or a dip back toward $35.50-35.00 before initiating new positions. Our target is the $39.75-40.00 range. We do not want to hold over the April 30th earnings report.
Picked on April 23 at $36.15
Citrix Sys. - CTXS - cls: 34.19 chg: -0.42 stop: 33.69*new*
Time is almost up. Unfortunately, CTXS did not build on yesterday's strength and what appeared to be a bullish breakout. Instead the stock reversed course and flirted with a breakdown under its 10-dma. We are raising the stop loss to $33.69, just a few cents from today's low. CTXS is due to report after the bell on April 25th. We plan to exit at the closing bell on Wednesday to avoid holding over the announcement.
Picked on April 16 at $34.10
GulMark Offshore - GMRK - cls: 48.22 chg: -0.33 stop: 45.45
GMRK slipped 0.6%, which looks like normal profit taking after Monday's big rally. A dip into the $47.50-47.00 region could be used as a new entry point. Our short-term target is the $49.90-50.00 range. More aggressive traders may want to aim higher.
Picked on April 22 at $47.25
James River Coal - JRCC - cls: 9.42 chg: +0.09 stop: 8.49
JRCC is creeping higher. The stock added 0.9% and is now testing potential resistance at $9.50. We are not suggesting new positions at this time. Our target is $9.90-10.00.
Picked on April 08 at $ 8.15
Microsoft - MSFT - cls: 28.79 chg: +0.01 stop: 28.24
We are running out of time with MSFT. We're not suggesting new positions. Please note that we're inching up the stop loss to $28.35. More conservative traders may want to just exit early or raise their stop to $28.49. It looks like investors are not willing to make any new bets ahead of MSFT's earnings report. Our target is the $29.90-30.00 range. We plan to exit at the close on Thursday, April 26 to avoid earnings.
Picked on April 17 at $28.85
NVIDIA Corp. - NVDA - cls: 32.55 chg: +1.18 stop: 29.74 *new*
NVDA displayed some great relative strength with a 3.7% rally. Shares are now testing technical resistance at the 100-dma. Volume behind today's gain was above average, which is generally bullish. We are raising our stop loss to $29.74. Our target is the $34.50-35.00 range. We plan to exit ahead of the April 30th earnings.
Picked on April 15 at $30.58
Starbucks Corp. - SBUX - cls: 31.34 chg: -0.23 stop: 30.39
Today's pull back in SBUX might be a new entry point. Traders did buy the dip near $31.00 but more conservative traders may want to wait for a little more strength to confirm the rebound or just wait for a breakout over $32.00. We're suggesting positions now in the $31.00-32.00 range. We'll put our stop under Thursday's low at 30.39. More aggressive traders might want to use a stop under $30.00. Our target is the $35.00-36.00 range but we need to exit ahead of the May 3rd earnings report.
Picked on April 22 at $31.66
UNIT Crp. - UNT - cls: 55.99 chg: +0.40 stop: 51.75
UNT ignored the weakness in crude oil today and the stock posted another 0.7% gain. Conservative traders will need to strongly consider taking some profits right here with shares just under the April highs. We are not suggesting new positions. We do not want to hold over the early May earnings report. Our target is the $58-60 range.
Picked on April 08 at $51.95
Short Play Updates
Closed Long Plays
C.H.Robinson Worldwide - CHRW - cls: 51.15 chg: -0.61 stop: 50.25
It was another volatile day for CHRW. The stock dipped to $50.30 and just under its 10-dma before traders finally bought the dip. Shares look poised to move higher and they probably will following tonight's earnings report. The company beat estimates by four cents. Yet the play is over for us. It was our plan to exit at the closing bell today to avoid the risk of the earnings announcement.
Picked on April 16 at $50.25
Target - TGT - cls: 60.33 chg: -1.10 stop: 59.89
Yesterday it looked like TGT released its bearish April same-store sales news during the regular trading session. That's why we were surprised the stock held up so well. The news actually came out last night and the market's reaction was the gap down this morning. Shares opened at $60.00 and dipped to $59.45. That means we would have been stopped out at $59.89.
Picked on April 22 at $62.12
Closed Short Plays