Long Play Updates
Apria Healthcare - AHG - cls: 30.90 chg: +0.46 stop: 28.99
Today's rebound in AHG looks like a new entry point for long positions. Traders bought the dip near $30.00 and its rising 10-dma. However, we want to remind readers that yesterday's market sell-off was pretty ugly and we would be cautious about starting new bullish positions at this time in place considering the market's levels and the time of year. At face value today's move in AHG is positive but you may want to use a tighter stop loss. 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: 68.07 chg: +0.47 stop: 65.95
COLM's performance today was a very meager rebound after yesterday's sell-off. The longer-term trend is still bullish but short-term we're not feeling that optimistic. On a technical basis this looks like a bounce near rising support at the 50-dma, which would normally look like an entry point for new long positions. You may want to tighten your stop loss toward $67.00. 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: 54.97 change: +0.93 stop: 49.99
Good news! There was no follow through on yesterday's bearish reversal in GMRK. Traders bought the dip near $53.75 and the stock rebounded to post a 1.7% gain. This bounce can be used as a new bullish entry point. Our target is the $59.50-60.00 range. We don't want to hold over the late July earnings report.
Picked on July 09 at $54.55
Royal Gold - RGLD - cls: 25.29 change: -0.34 stop: 23.99
The gold sector and RGLD under performed the market today. We were expecting another dip into the $25.50-25.00 zone. Now that RGLD has provided a dip, watch for a bounce as a new entry point. 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: 16.28 chg: +0.77 stop: 13.95*new*
Wednesday proved to be a very bullish day for VSE. The stock soared 4.9% and broke through resistance at the 50-dma and the $16.00 level. Volume came in above average on the rally, which is normally a good sign. More conservative traders may want to exit early or at least take some money off the table right here. We are raising our stop loss to $13.95. Our target is the $17.75-18.00 range, just under the simple 200-dma. We'll be watching the 100-dma as potential resistance.
Picked on June 29 at $14.21
Short Play Updates
Empresa Natl. Elec. - EOC - cls: 46.20 chg: +0.21 stop: 50.05
EOC was short-term oversold so a bounce today is not unreasonable. We don't see any big changes from our previous comments. The $48.00-48.50 zone should be resistance. The $45.00 level and the 100-dma could be support. 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: 23.92 chg: -0.04 stop: 25.15
Bulls are still trying to defend SPLS near $23.75-23.70. The overall trend is bearish but we'd wait for a better entry point before launching new positions. Another failed rally under the 50-dma or a new relative low could work as an entry point. Our target is the $22.00 mark.
Picked on May 27 at $24.40
Closed Long Plays
Closed Short Plays