Long Play Updates
Apria Healthcare - AHG - cls: 31.40 chg: +0.09 stop: 28.99
AHG is still inching higher and continues to look bullish here above $30.00 and its 10-dma. We suspect that AHG might dip again toward $31.00 or the 10-dma, which is where we'd look for a new bullish entry point. More conservative traders may be tempted to raise their stop loss toward $30.00. 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
China Netcom - CN - cls: 56.11 change: -0.01 stop: 53.89
We do not see any changes from our new play description from Thursday night so we're reposting it here:
The Chinese market is still red hot and the ADR shares of CN look like they have finished their consolidation. Traders have bought the dip twice near support around $54.00. Thursday's rally pushed CN past technical resistance at its 10-dma. We are suggesting long positions now with CN above $55.00. Our stop is just under Wednesday's low. Our first target is the $59.75-60.00 range. Our second target is the $62.00-62.50 zone. The Point & Figure chart is very bullish with a $ 73 target.
Picked on July 12 at $56.12
Columbia Sportswear - COLM - cls: 69.67 chg: +0.05 stop: 66.99*new*
COLM managed to bounce from support near $67 and its rising 50-dma on Wednesday but the stock is still struggling to break through resistance at $70.00. We have less than two weeks before COLM is due to report earnings. Traders could use another dip in the $67.50-68.00 zone as a new entry point or wait for a new relative high over $70.10. We are raising our stop loss to $66.99. 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: 57.04 change: +1.08 stop: 52.45*new*
Crude oil climbed to new multi-month highs on Friday and energy stocks followed. Shares of GMRK rose 1.9% to a new all-time high. We remain bullish on the stock but would not suggest new positions at this level. If you're looking for a new entry point wait for a dip into the $55.50-55.00 zone. We are adjusting our stop loss to $52.45. 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
Intl. Flavors - IFF - cls: 53.93 change: +0.04 stop: 51.45
Friday witnessed almost no change in shares of IFF. We don't see any change from our previous comments so we're reposting them here:
IFF just broke out from a two and a half month sideways consolidation pattern above the $50.00 level. Technicals are positive and the rally past resistance near $53.00 looks like a new entry point to buy the stock. We're suggesting long positions now. Our target is the $57.50-60.00 range. The P&F chart is bullish with an $83 target.
Picked on July 12 at $53.89
Noble Energy - NBL - cls: 65.49 chg: -0.12 stop: 63.90
Trading in NBL on Friday was not very enthusiastic. Shares hit a new high and then reversed course all on below average volume. We were suggesting a trigger to buy the stock at $66.01. The intraday high was $66.12 so the play is now open. The rally past $66.00 has produced a new triple-top breakout buy signal on the Point & Figure chart with a $79 target. We are only aiming for the $69.90-70.00 range. Readers can choose to go long NBL now but we would wait. Wait for a dip to $65.00 or maybe the $64.00 level or if you prefer wait for a new relative high over $66.12 as your entry point.
Picked on July 13 at $66.01
Royal Gold - RGLD - cls: 26.61 change: -0.03 stop: 23.99
RGLD came close to hitting our target. Shares spiked to $27.31 Friday morning. Unfortunately, the stock reversed and gave it all back to close in the red. The move looks like a short-term bearish reversal (failed rally) pattern. At this time we'd expect a dip back toward $26.00 and maybe lower. We're not suggesting new positions at the moment but keep an eye open for a bounce near the rising 10-dma. 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
Systemax Inc. - SYX - cls: 21.49 change: -0.63 stop: 19.99
SYX's lack of follow through on Thursday's rally and bullish breakout is a warning sign for the bulls. The stock lost 2.8% and closed just above its rising 10-dma. Nimble traders may want to try and buy a bounce near $21.00. We are now suggesting that readers wait for a new move over $22.00 before initiating positions. Our first target is the $24.90-25.00 range. Beware potential resistance at the $24.00 level. We do have an aggressive (wide) stop loss and more conservative traders may want to tighten their stops. We can't find any future earnings reporting date for SYX but the company has a history of reporting in August.
Picked on July 12 at $22.01
Verasun Energy - VSE - cls: 15.04 chg: -0.62 stop: 13.95
That's not a typo. VSE fell 62 cents two days in a row. Friday's 3.9% drop was powered by one analyst firm voicing their opinion that ethanol stocks might be at a short-term top and removing VSE from their recommended list. We warned readers to expect a pull back toward the $15.00 region. The question now is where will VSE bounce? A bounce from here or near $14.50 could be used as a new entry point to buy VSE but we would definitely wait for signs of a rebound before jumping in. 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: 45.95 chg: +0.06 stop: 50.05
EOC still looks bearish but we're expecting a short-term oversold bounce soon. Watch for a failed rally in the $47.00-47.50 zone as a new entry point for shorts. Readers may want to consider tightening their stops. The $45.00 level and the rising 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
Closed Long Plays
Closed Short Plays