Long Play Updates
Bristow Group - BRS - close: 37.60 chg: -0.00 stop: 36.75
The technical picture is definitely looking mixed in BRS right now. Short-term it looks like the stock wants to trade lower. Tomorrow could see some volatility as investors react to the weekly oil inventory numbers. We're not suggesting new positions. More conservative traders will want to consider an early exit now. 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
Dell Inc. - DELL - cls: 25.22 change: +0.01 stop: 24.49
Investors bought the dip in DELL at $24.75 midday. The afternoon rebound looks like a new entry point to buy the stock. More conservative traders may even want to tighten their stop toward today's low. Our target is the $27.25-27.50 range. We do not want to hold over the late May earnings report.
Picked on April 29 at $25.23
ENSCO - ESV - close: 57.38 change: +1.00 stop: 53.44
ESV displayed relative strength with a strong rebound and a 1.7% gain. The bounce near $56 (actually 55.73) looks like a new entry point to buy the stock. Don't be surprised if energy stocks see some volatility tomorrow morning due to the weekly oil inventory numbers. The P&F chart points to a $76 target. We have two targets. Our conservative target is $59.85-60.00. Our aggressive target is the $62.50-65.00 range.
Picked on April 29 at $56.84
NVIDIA Corp. - NVDA - cls: 33.24 chg: +0.35 stop: 30.58
NVDA spent the session churning sideways and ended up with a 1% gain by the closing bell. We're not suggesting new positions. More conservative traders will want to consider taking a profit here or raising their stops. We want to exit ahead of the May 10th earnings report. Our target is the $34.50-35.00 range.
Picked on April 15 at $30.58
World Acceptance Corp. - WRLD - cls: 42.64 chg: -0.29 stop: 40.99
We remain very cautious on WRLD. The stock failed to bounce with most of the market this afternoon. We are not suggesting new positions at this time and more conservative traders may want to raise their stop loss toward $42.00. Our target is the $49.50-50.00 range. The P&F chart points to a $56 target.
Picked on April 29 at $44.58
Short Play Updates
Lan Airlines - LFL - close: 72.05 chg: -1.10 stop: 76.05
Our bearish play in airline stock LFL has been opened. The stock broke down early this morning and dipped to $70.93. Our suggested trigger to short it was at $71.49. The bounce from its lows is a concern so readers can watch for a failed rally under $74.00-73.75 as a new bearish entry point. We are suggesting two targets. Our first target is the $66.00-65.00 range (near the rising 100-dma). Our second, more aggressive target will be the $61.00-60.00 range. FYI: The most recent data puts short interest at 750K shares versus the 19.3 million-share float. LFL has about 63.7 million shares outstanding.
Picked on May 01 at $71.49
Closed Long Plays
Starbucks Corp. - SBUX - cls: 31.01 chg: -0.01 stop: 30.85
We would have been stopped out of SBUX at $30.85. We warned readers that the situation didn't look good for the bulls although today's afternoon bounce is a potential entry point. At this point in the game we'd wait until after the company's earnings report on May 3rd before considering any new positions.
Picked on April 22 at $31.66
Closed Short Plays