Long Play Updates
Apria Healthcare - AHG - cls: 31.02 chg: -0.38 stop: 28.99
AHG slipped back toward short-term technical support at its 10-dma and 100-dma. If the markets continue lower then AHG will likely fall toward the $30.00 level. 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: 55.08 change: -1.03 stop: 53.89
The Chinese Shanghai index was down 2.3% on Monday and that weighed on shares of CN, which lost 1.8%. We would expect another dip toward support near $54.00. Wait for signs of a bounce before considering new bullish positions. 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: 68.79 chg: -0.88 stop: 66.99
COLM has produced yet another failed rally under the $70.00 level. Odds are good the stock will see another dip toward technical support at its 50-dma near $67.50. We're not suggesting new positions at this time. 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: 54.85 change: -2.19 stop: 52.45
Ouch! GMRK just lost 3.8% and erased most of our potential gains. Oil and energy stocks in general were weak today even though crude oil futures remain near relative highs. We would wait and watch for a bounce in GMRK near the 10-dma or the $54.00 level before considering new positions. 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: 53.22 change: -0.71 stop: 51.45
Today's pull back in IFF toward $53.00 actually looks like a new entry point to go long the stock. However, we'd feel more comfortable waiting for signs of a bounce before jumping in. 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
FreightCar America - RAIL - cls: 53.42 chg: +0.69 stop: 49.95
The railroad sector was the market's best performing group today. The Dow Jones railroad index rose 1.19% and broke through round-number resistance at the 500 level. Shares of RAIL continued to rally with a 1.3% gain. We don't see any changes from our weekend comments but more patient traders may want to wait for a dip back toward the $52.50-52.00 range, which should be support. Our target is the $57.00-58.00 range. More aggressive traders may wan to aim closer to $60.00. This is somewhat aggressive because we don't have a lot of time. We plan to exit ahead of the July 26th earnings report.
Picked on July 15 at $52.73
Bankrate - RATE - cls: 50.80 chg: -1.16 stop: 48.99
RATE turned in a bearish session. Shares hit $53.14 and reversed course in a bearish failed-rally pattern. Financials were weak today as investors worried (again) over subprime fears. Broken resistance near $50.00 should be support. Watch for a bounce near $50.00 as a potential entry point. We have a little less than three weeks before RATE reports earnings. Our short-term target is the $54.90-55.00 range. More aggressive traders may want to aim higher.
Picked on July 15 at $51.96
Royal Gold - RGLD - cls: 26.41 change: -0.20 stop: 23.99
We don't see any changes from our previous comments on RGLD. The stock traded sideways on Monday and remains above what should be short-term support at $26.00 and its 50-dma near $26.13. 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: 21.06 change: -0.43 stop: 19.99
More nimble traders may want to try and buy a bounce from current levels. 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: 14.25 chg: -0.79 stop: 13.95
Ouch! VSE lost another 5.2% and on strong volume. There doesn't appear to be any new reason for the weakness other than a follow through from last Thursday's bearish reversal. Today's breakdown under $15.00 could be the "abandon ship" siren. We're going to stick it out since VSE should have additional support near $14.00 but we're not suggesting new positions at this time.
Picked on June 29 at $14.21
Short Play Updates
Empresa Natl. Elec. - EOC - cls: 46.05 chg: +0.10 stop: 50.05
EOC is still trying to produce an oversold bounce but isn't having much success. 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
Energy Sector SPDR - XLE - cls: 73.00 chg: -0.95 stop: 75.01
We do not see any changes from our weekend comments on the XLE. At this time we don't really expect oil and energy stocks to see any significant correction until early August. However, we're ready if it appears early. All bets are off if a hurricane shows up and heads toward the Gulf of Mexico. Right now we're suggesting a trigger to short the XLE at $69.75. We honestly don't expect to be triggered until early August so we'll make adjustments to our entry point and stop loss as necessary.
Picked on July xx at $xx.xx <-- see TRIGGER
Closed Long Plays
Noble Energy - NBL - cls: 64.11 chg: -1.38 stop: 63.90
Oil and energy stocks were some of the market's worst performers today. The OIX oil index lost 1.6%. Shares of NBL under performed with a 2.1% decline. Unfortunately, the intraday low was $63.85, which was enough to hit our stop loss at $63.90.
Picked on July 13 at $66.01
Closed Short Plays