Long Play Updates
Apria Healthcare - AHG - cls: 30.44 chg: -0.63 stop: 28.99
AHG did not escape the market-wide profit taking. Shares of AHG slipped 2% and look poised to test the $30.00 level again. We would wait for a new bounce near $30 or its rising 10-dma before considering new bullish positions. More conservative traders may want to tighten their stops toward $29.50 or toward the $30 level to reduce their risk. 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.
Picked on July 08 at $31.12
Columbia Sportswear - COLM - cls: 67.60 chg: -1.73 stop: 65.95
Ouch! COLM was hammered pretty good on Tuesday. Shares lost 2.49% and broke down through short-term support near $68.00. We suspect the stock was reacting to the earnings warning issued by Sears (SHLD), which undermined the entire retail sector today. Look for a bounce from COLM's rising 50-dma before considering new bullish positions. 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: 54.04 change: -1.35 stop: 49.99
Reversal alert! GMRK completely reversed yesterday's gains. The stock produced a bearish engulfing candlestick pattern, which is normally seen as a bearish reversal. At this time we would expect a dip toward the $53.00 zone. We would wait and watch for a bounce before considering new positions. More conservative traders may want to tighten their stops. 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: 25.64 change: -0.18 stop: 23.99
Gold stocks and shares of RGLD held up relatively well during today's market weakness. Traders bought the dip in RGLD at $25.17. Unfortunately, we're not convinced the pull back is over. Odds are good that RGLD could see another dip toward $25.00 again. Watch for a bounce near $25.50 or the $25.00 level as a new entry point for long positions. 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: 15.51 chg: -0.18 stop: 12.89
VSE suffered some minor profit taking and held up pretty well considering the big bounce from its late June lows. If the markets continue lower then look for VSE to consolidate back toward $15.00 and probably the $14.50 zone or at least the 10-dma near $14.60. 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.
Picked on June 29 at $14.21
Short Play Updates
Empresa Natl. Elec. - EOC - cls: 45.99 chg: -1.01 stop: 50.05
EOC continues to sink and on above average volume, which is a good sign for the bears. We would expect potential support near $45.00 or the 100-dma so be prepared for an oversold bounce soon. Our target is the $43.00-42.50 range. We do not want to hold over the late July earnings report.
Picked on July 08 at $47.50
Staples Inc. - SPLS - cls: 23.96 chg: -0.64 stop: 25.15
SPLS sank 2.6% and closed back under the $24.00 level. We suspect that investors were influenced by the Sears earnings warning today. The drop under $24.00 looks like another entry point but be prepared to SPLS to find some support near $23.70 again. Traders may want to adjust their stop loss toward yesterday's high above the 50-dma. Our target is the $22.00 mark.
Picked on May 27 at $24.40
Closed Long Plays
Closed Short Plays