Long Play Updates
Apria Healthcare - AHG - cls: 31.07 chg: -0.05 stop: 28.99
AHG didn't do much on Monday. The stock spent the session inside a 70-cent trading range. Overall we don't see any changes from our weekend comments. We're suggesting positions with AHG above $30.00. You can jump in now or wait for another dip in the $30.00-30.50 zone. Our target is the $33.95-34.00 range. We do not want to hold over the late July earnings report in about three weeks. We're placing our stop loss at $28.99. More conservative traders may want to place theirs closer to $29.50 or even near $30.00.
Picked on July 08 at $31.12
Columbia Sportswear - COLM - cls: 69.33 chg: -0.35 stop: 65.95
COLM under performed the market on Monday. Shares slipped 0.5% and the stock continues to struggle with resistance near $70.00. Readers can choose to buy another dip near $68.00 or wait for a new relative high over $70.06 as their entry point. Our target is the $73.50-75.00 range. The P&F chart is very bullish with an $89 target.
Picked on June 17 at $68.54
GulfMark - GMRK - cls: 55.39 change: +1.34 stop: 49.99
Our new play on GMRK is now open. Shares gapped open higher at $54.25 and soared to an intraday high of $55.93 before paring their gains. Volume was above average on the bullish breakout from the two-month trading range. This is also a new all-time high for GMRK. Oil stocks were strong today in spite of a dip in crude oil prices. Fueling the move was news that COP announced a very large stock buy back program. Meanwhile for GMRK, the company announced plans to move its listing to the NYSE. The company expects to be trading on the NYSE around July 20th under the new symbol "GLF". Our target is the $59.00-60.00 range. We do not want to hold over the late July earnings report.
Picked on July 09 at $54.55
Royal Gold - RGLD - cls: 25.82 change: +0.07 stop: 23.99
We were disappointed in RGLD's performance today. As a sector gold stocks continued to climb on Monday. The XAU index rose more than 1% and the GOX index rose 4.5%. Shares of RGLD under performed both indices and produced what looks like possible bearish failed rally pattern under the 50-dma. Odds just jumped that we'll see a better entry point on a pull back toward the $25.00 level. Our target is the $27.90-28.00 range. More aggressive traders may want to aim higher. FYI: The P&F chart is still very bearish.
Picked on July 08 at $25.75
Verasun Energy - VSE - cls: 15.69 chg: +0.38 stop: 12.89
VSE rose another 2.48% but the stock struggled to build on its early morning gains. Today's move almost looks like a bearish failed rally under technical resistance near $16.00 and its 50-dma. We would expect a dip back toward the $15.20-15.00 zone. More conservative traders may want to tighten their stops toward $14.00 or breakeven. Our target is the $17.75-18.00 range, just under the simple 200-dma. We'll be watching the 50-dma and 100-dma as potential resistance. FYI: Keep an eye on ADM, another ethanol-related stock. Shares of ADM soared today and broke through multiple levels of resistance.
Picked on June 29 at $14.21
Short Play Updates
Empresa Natl. Elec. - EOC - cls: 47.00 chg: -0.50 stop: 50.05
So far so good. EOC lost another 1%. We don't see any changes from our weekend comments. If the stock does see a bounce we'd watch for the $48.00 level or the 10-dma near $48.50 to act as overhead resistance. We're suggesting shorts with a target in the $43.00-42.50 range. We do see potential support at the rising 100-dma around $45.00 so don't be surprised by a bounce. We do not want to hold over the late July earnings report.
Picked on July 08 at $47.50
Staples Inc. - SPLS - cls: 24.60 chg: -0.15 stop: 25.15
Monday's trading in SPLS looks bearish. The stock produced yet another failed rally under its sliding 50-dma. Normally we'd suggest new shorts right here but given the bullish tone in the market's major averages we are cautious about new shorts at this time. More conservative traders may want to tighten their stops toward $25.00. We're not suggesting new positions at this time. Our target is the $22.00 mark.
Picked on May 27 at $24.40
Closed Long Plays
Closed Short Plays
Broadcom - BRCM - cls: 31.26 change: +0.63 stop: 31.05
BRCM hit our stop loss at $31.05 today. Another strong day for semiconductor stocks helped fuel a 2% rebound in BRCM. We've been warning readers for the past couple of sessions that the bounce looked dangerous and a potential trap. BRCM has now rallied back toward the top of its previous trading range (30.00-31.50).
Picked on June 25 at $29.75