Long Play Updates
Arch Coal - ACI - close: 38.49 change: -0.14 stop: 35.89
General market weakness impeded ACI's attempt at a bounce on Tuesday. Overall the stock continues to look bullish above $38.00. A bounce from here could be used as a new entry point to go long ACI. We're keeping our stop at $35.89 for now. The P&F chart is already bullish with a $55.00 target. We see some resistance near $40.00 but our target is the $42.50-45.00 range.
Picked on May 09 at $38.44
Aracruz Celulose - ARA - close: 56.82 chg: +1.08 stop: 53.95
ARA finally broke out over the $57.00 level at least on an intraday basis. Today's relative strength on improving volume is encouraging. We are tempted to declare this a new entry point but we're concerned about weakness in the NASDAQ and the Russell dragging down the market. Our target is the $62.00-62.50 range.
Picked on May 06 at $56.29
British Amer. Tob. - BTI - cls: 63.71 chg: +0.63 stop: 61.45
BTI displayed relative strength. Today's move over $63.50 looks like a new entry point to go long the stock. More conservative traders may want to wait for a new high over 64.07 before initiating positions. Our target is the $67.50-70.00 range. BTI doesn't move very fast so this could take several weeks.
Picked on May 07 at $64.05
Anheuser Busch - BUD - cls: 50.40 chg: +0.45 stop: 48.95
Investors might be turning toward defensive stocks. BUD out performed today with a 0.9% gain. The move looks like a new entry point to buy BUD. The stock remains inside its wide, rising channel. The stock doesn't move very fast so it could take several weeks before shares hit our target in the $53.85-54.00 range.
Picked on May 06 at $50.50
ENSCO - ESV - close: 57.90 change: +0.25 stop: 54.75
Another positive day for crude oil probably helped the oil service stocks close higher. Shares of ESV briefly dipped to $55.96 this morning but rebounded very quickly. Currently our target is the $61.50-62.50 range. More conservative traders may still want to lock in a gain at $59.85. The Point & Figure chart points to an $82 target.
Picked on April 29 at $56.84
Georgia Gulf - GGC - close: 18.32 chg: -0.74 stop: 17.35
It looks like GGC reported earnings again. This looks like the third earnings report in the last six weeks! Something is not normal here. They reported on April 2nd, then surprised us on May 10th and now it says they reported again last night. Investor reaction to the news was negative. GGC lost 3.8%. We are not suggesting new positions at this time. Our target is the $19.90-20.00 range.
Picked on May 07 at $17.35
Kansas City Southern - KSU - cls: 38.55 chg: -0.51 stop: 37.75
We remain on the sidelines with KSU. We are suggesting that readers wait for a breakout over resistance at $39.50 first. Our suggested entry point to buy the stock is at $39.61. More conservative traders could even wait for a rally past potential round-number resistance at $40.00. If we are triggered at $39.61 then our target is the $43.50-44.00 range. Currently the P&F chart points to a $45 target.
Picked on May xx at $xx.xx <-- see TRIGGER
China Life Ins. - LFC - cls: 49.73 chg: -0.59 stop: 46.74
LFC is starting to see some profit taking. Shares essentially traded sideways but closed down 1.1%. We would expect a dip back toward $49.00 or the $48.00 zone. Watch for a bounce before considering new positions. We're putting our stop under Thursday's low. Our target is the January 2007 highs in the $57.00-57.50 range. FYI: The P&F chart has produced a new triple-top breakout buy signal. The chart pattern points to a $70 target.
Picked on May 13 at $50.27
McGrath RentCorp - MGRC - cls: 31.13 chg: -0.65 stop: 29.89
Something happened late this afternoon that sent shares of MGRC plunging lower. Shares closed under the 50-dma. We are sticking to our plan and waiting for a breakout over $32.00. Our suggested trigger to buy the stock is at $32.35. More conservative traders may want to use a trigger above $32.50. If we are triggered our target is the $35.75-36.00 range. The P&F chart is bullish with a $50 target.
Picked on May xx at $xx.xx <-- see TRIGGER
Superior Energy - SPN - cls: 39.00 chg: +0.11 stop: 35.99
SPN managed to close higher on Tuesday but we would not be surprised to see some profit taking soon. Watch for a dip back toward the $38.00 zone, which should now be short-term support. Our target is the $42.50 level. The P&F chart is very bullish with a $65 target.
Picked on May 13 at $38.42
Thermo Fisher - TMO - close: 53.45 change: +0.07 stop: 51.75
We don't see any big changes in TMO. The overall trend is up but the momentum is stalling a bit. Traders may want to be patient and wait for a dip into the $52.75-52.25 range as a new entry point. We are aiming for the $59.00-60.00 range. The P&F chart points to a $76 target.
Picked on May 13 at $53.63
Short Play Updates
Closed Long Plays
Closed Short Plays