Option Investor
Play Updates

In Play Updates and Reviews

HAVING TROUBLE PRINTING?
Printer friendly version

Long Play Updates

Archer Daniels Midland - ADM - cls: 39.52 chg: +0.21 stop: 36.95

ADM posted another gain, it's fourth in a row, but shares are starting to look short-term overbought. A dip back toward $38.50 or its 10-dma could be used as a new entry point. We're tempted to raise the stop loss. 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
Change since picked: + 0.97
Earnings Date 05/01/07 (unconfirmed)
Average Daily Volume: 8.7 million

---

Apria Healthcare - AHG - cls: 33.69 chg: -0.13 stop: 32.95 *new*

AHG displayed relative strength on Wednesday with a 0.38% loss while the rest of the market was in rally mode. Healthcare stocks were under performing thanks to a less than inspiring earnings report from Wellpoint. Volume on AHG is rising and given the lack of upward movement that starts to look like distribution. More conservative traders may want to exit early right here and try to keep a small gain. We're raising the stop loss to $32.95. We do not want to hold over the May 1st earnings report.

Picked on March 27 at $32.37
Change since picked: + 1.32
Earnings Date 05/01/07 (confirmed)
Average Daily Volume: 910 thousand

---

Brookfield Asset Mgmt - BAM - cls: 57.43 chg: +0.36 stop: 54.76*new*

BAM managed to gain 0.6% by the closing bell but momentum is still waning under the $58 level. 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. Please note that we're adjusting the stop loss to $54.76.

Picked on April 08 at $54.76
Change since picked: + 2.67
Earnings Date 05/02/07 (confirmed)
Average Daily Volume: 675 thousand

---

Basic Energy - BAS - cls: 26.22 chg: +0.47 stop: 23.19

Another strong rally in crude oil gave energy stocks an extra boost today. Shares of BAS rose 1.8% and broke out over resistance at the $26.00 level. More conservative traders may want to tighten their stops toward $24.00 or maybe 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
Change since picked: + 0.83
Earnings Date 05/09/07 (confirmed)
Average Daily Volume: 160 thousand

---

Bristow Group - BRS - close: 38.00 chg: +0.35 stop: 36.45

The strength in energy stocks helped BRS rise over the $38.00 level at least on an intraday basis. The intraday high was $38.30 and 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
Change since picked: + 2.12
Earnings Date 05/07/07 (unconfirmed)
Average Daily Volume: 243 thousand

---

Cabot Oil - COG - close: 36.70 change: +0.78 stop: 33.45

Market and sector strength helped COG power past the $36.00 level. The move looks like another entry point. 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
Change since picked: + 0.55
Earnings Date 04/30/07 (confirmed)
Average Daily Volume: 1.0 million

---

James River Coal - JRCC - cls: 9.54 chg: +0.12 stop: 8.75*new*

Coal producer and potential acquisition candidate JRCC continues to rally. The stock rose 1.2%. JRCC is now up about 17% from our picked price. More conservative traders will want to strongly consider taking some money off the table. We are not suggesting new positions at this time. Our target is $9.90-10.00. We are raising the stop loss to $8.75.

Picked on April 08 at $ 8.15
Change since picked: + 1.39
Earnings Date 05/08/07 (confirmed)
Average Daily Volume: 647 thousand

---

Microsoft - MSFT - cls: 28.99 chg: +0.20 stop: 28.45 *new*

Tomorrow is our last day with MSFT. We plan to exit at the closing bell to avoid the company's earnings report. Please note that we're adjusting the stop loss to $28.45 to reduce our risk.

Picked on April 17 at $28.85
Change since picked: + 0.14
Earnings Date 04/26/07 (confirmed)
Average Daily Volume: 61.0 million

---

NVIDIA Corp. - NVDA - cls: 33.11 chg: +0.56 stop: 29.74

NVDA looked pretty bullish today with a 1.7% rally and a breakout over technical resistance at the 100-dma. We're not suggesting new positions at this time. 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
Change since picked: + 2.53
Earnings Date 04/30/07 (unconfirmed)
Average Daily Volume: 11.9 million

---

Starbucks Corp. - SBUX - cls: 31.84 chg: +0.50 stop: 30.39

SBUX's 1.5% rally from short-term support looks like another entry point. However, we will reiterate our suggestion that more conservative traders will want to wait for a breakout over $32.00 first. 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
Change since picked: + 0.18
Earnings Date 05/03/07 (confirmed)
Average Daily Volume: 10.5 million

---

UNIT Crp. - UNT - cls: 57.15 chg: +1.16 stop: 53.95 *new*

UNT displayed plenty of relative strength with a 2% gain on Wednesday. A rebound in crude oil combined with the widespread market strength helped UNT breakout past the April highs. The intraday high was $57.81. Our target is the $58.00-60.00 range. Conservative traders will want to strongly consider taking some profits right here. We are not suggesting new positions. We do not want to hold over the early May earnings report. Please note that our new stop loss is $53.95.

Picked on April 08 at $51.95
Change since picked: + 5.20
Earnings Date 05/03/07 (unconfirmed)
Average Daily Volume: 407 thousand
 

Short Play Updates

None
 

Closed Long Plays

Citrix Sys. - CTXS - cls: 34.09 chg: -0.09 stop: 33.69

CTXS under performed the market as investors waited for the company's earnings report. It was our plan to exit today at the closing bell to avoid holding over earnings.

Picked on April 16 at $34.10
Change since picked: - 0.01
Earnings Date 04/25/07 (confirmed)
Average Daily Volume: 2.5 million

---

GulMark Offshore - GMRK - cls: 49.82 chg: +1.60 stop: 45.45

Target achieved. Market and sector strength helped GMRK soar to new highs on Wednesday. Shares hit $50.03 this afternoon. Our target was the $49.90-50.00 range. More aggressive traders may want to aim higher.

Picked on April 22 at $47.25
Change since picked: + 2.57
Earnings Date 05/03/07 (unconfirmed)
Average Daily Volume: 211 thousand
 

Closed Short Plays

Body

Premier Investor Play Update Archives