Long Play Updates
Bristow Group - BRS - close: 37.88 chg: +0.28 stop: 36.75
Oil and oil service stocks continued to rally in spite of a pull back in crude oil futures. BRS rose 0.7% but it's worth noting that it closed off its highs for the session, volume was low, and the MACD on the daily chart still looks ready to turn bearish. 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: 25.15 change: -0.07 stop: 24.49
The markets produced a very widespread rally but DELL actually lost ground today. We are considering a tighter stop loss at $27.74, just under yesterday's low. A rally from here could be used as a new entry point but again - reconsider a tighter stop. 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: 57.86 change: +0.48 stop: 53.44
Shares of ESV have continued to show relative strength. The stock rose 0.8% but stalled under short-term resistance near $58.00. Volume definitely slowed down on today's rally, which is a caution sign. 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: 32.85 chg: -0.39 stop: 31.85 *new*
Caution! NVDA under performed the broader market and its peers in the semiconductor sector. We reiterate our previous comments that more conservative traders may want to exit now to lock in a gain. We are raising our stop loss to $31.85. If you're feeling cautious but don't want to exit yet consider raising your stop toward $32.25 or $32.50. 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: 43.72 chg: +1.08 stop: 40.99
We were very close to giving up on WLRD but today's 2.5% rally alleviates some of our concern. The three-week trend looks bullish with a pattern of higher lows. If you want to open new positions now consider placing your stop closer to $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: 74.70 chg: +2.65 stop: 76.05
Warning! Today's rebound (+3.6%) in LFL looks like a bullish reversal. More conservative traders will want to consider an early exit here to cut their losses. We're going to keep the play open since the $76.00 level is very significant resistance. Should LFL actually breakout over $76.00 then more nimble traders may want to switch directions and go long the stock since a breakout would be very bullish. We're not suggesting new shorts at this time. We were 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
Closed Short Plays