Long Play Updates
Archer Daniels Midland - ADM - cls: 39.03 chg: -0.49 stop: 37.75*new*
ADM witnessed some profit taking today. After four up days in a row it was probably time. We are running out of time. The company is due to report earnings on May 1st so we're planning to exit at the close on April 30th. Given our time frame we're adjusting the target to $39.90-40.00 and our stop loss to $37.75.
Picked on April 22 at $38.55
Apria Healthcare - AHG - cls: 33.24 chg: -0.45 stop: 32.95
We have been growing more concerned with AHG's performance over the last few days and today's 1.3% decline might be a good signal to exit. More conservative traders will want to seriously consider an exit right now given our time frame. We do not want to hold over the May 1st earnings report to we plan to exit at the closing bell on April 30th.
Picked on March 27 at $32.37
Basic Energy - BAS - cls: 26.13 chg: -0.09 stop: 23.19
BAS dipped toward the 10-dma again but traders continued to buy the dip. The trend remains bullish but we're somewhat surprised that energy stocks weren't stronger after XOM's positive earnings report this morning. 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
Bristow Group - BRS - close: 38.12 chg: +0.12 stop: 36.45
BRS is inching closer toward our $38.40-38.50 target again. Shares bounced from short-term technical support at the rising 10-dma. 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: 36.79 change: +0.09 stop: 33.45
COG managed to post another gain in spite of a dip in the oil index and crude. Traders bought the dip near $36.00 this morning and the rebound looks like a new entry point. More conservative traders may want to tighten their stops. 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
James River Coal - JRCC - cls: 9.52 chg: -0.02 stop: 8.75
JRCC experienced some volatility on Thursday but bulls bought the dip at $9.13. We don't see any changes from our previous updates. 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.
Picked on April 08 at $ 8.15
NVIDIA Corp. - NVDA - cls: 33.51 chg: +0.40 stop: 29.74
NVDA continues to show relative strength. The stock rose 1.2% and posted its third gain in a row. We're not suggesting new positions at this time. Our target is the $34.50-35.00 range. The company just announced that earnings will be released on May 10th. FYI: More conservative traders may want to take some money off the table right here.
Picked on April 15 at $30.58
Starbucks Corp. - SBUX - cls: 31.82 chg: -0.02 stop: 30.39
SBUX broke out past resistance near $32.00 on an intraday basis but failed to hold its gains. This move looks like a bearish failed rally pattern so traders should be cautious. More conservative types may want to tighten their stops toward $31.00. 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
Short Play Updates
Closed Long Plays
Brookfield Asset Mgmt - BAM - cls: 56.71 chg: -0.72 stop: 54.76
We are suggesting an early exit in BAM. The stock was downgraded today while shares were already struggling with waning momentum. Today's session produced a failed rally and a breakdown under the simple 10-dma. We'd rather exit now and watch for another bounce near $55.00 than see shares erase any potential gains.
Picked on April 08 at $54.76
Microsoft - MSFT - cls: 29.10 chg: +0.11 stop: 28.45
Our time has run out for MSFT. It was our plan to exit at the closing bell today to avoid holding over the earnings report. This time the bulls won with the company announced better than expected results and shares were trading above $30.00 in after hours.
Picked on April 17 at $28.85
UNIT Crp. - UNT - cls: 57.41 chg: +0.26 stop: 53.95
We are suggesting an early exit in UNT. The stock has produced two short-term failed rally patterns under $58.00 in just the last two sessions. Our target is the $58.00-60.00 range and the intraday high today was $57.94. More aggressive traders may want to stick it out. We're suggesting you lock in a gain right here.
Picked on April 08 at $51.95
Closed Short Plays