Long Play Updates
Apria Healthcare - AHG - cls: 30.60 chg: -0.42 stop: 28.99
There should be no surprises here. We've been warning readers to expect a dip in AHG. What did surprise us was the volume, which came in above average on today's move. Technically it was bearish day with AHG slipping under its 10-dma and 100-dma. We are expecting a dip back toward what should be support at 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.
Picked on July 08 at $31.12
China Netcom - CN - cls: 54.74 change: -0.34 stop: 53.89
CN didn't move much today, which is a surprise. The Chinese markets are seeing a lot of volatility. Yesterday the Shanghai index was down 2.3% and today it was up 1.9%. Readers can watch for another rebound near $54.00 or a new relative high over $56.00 as an entry point to buy CN. 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: 69.14 chg: +0.35 stop: 66.99
COLM is still trading sideways. The stock produced another failed rally near resistance at $70.00. 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: 54.63 change: -0.22 stop: 52.45
Oil and oil service stocks continued to see profit taking. GMRK did bounce from its lows but the rebound was already failing late this afternoon. More conservative traders may want to inch up their stop loss toward $53.00. A rally past today's high could be used as a new 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
Intl. Flavors - IFF - cls: 52.83 change: -0.39 stop: 51.45
IFF suffered another day of profit taking. The close under $53.00 is a caution sign for the bulls. However, we would still watch for a bounce in the $52.00-52.50 zone as a new bullish entry point. 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: 54.14 chg: +0.72 stop: 49.95
RAIL is extending its rally and breakout past resistance near $52 and its 200-dma. Unfortunately, the Dow Jones Railroad index, while positive today, appears to have produced a bearish failed rally pattern under resistance. If the sector sees some profit taking tomorrow we would expect RAIL to turn lower as well. Broken resistance near $52.00 should be new 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: 50.76 chg: -0.04 stop: 48.99
RATE held up pretty well in spite of MER's comments about the sub-prime sector today. RATE actually spiked higher at the open after one analyst firm raised their price target to $58.00. The rally in RATE didn't last and shares are testing what should be support near $50.00. Depending on your level of risk we would watch for a rally through the $51.00, 51.25, 51.50 levels as potential entry points. Bear in mind that we don't have much time left. 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: 26.40 change: -0.01 stop: 23.99
Unfortunately, RGLD isn't moving very much. Shares have been trading sideways the last couple of days. The good news is that the 50-dma and the $26.00 level should be short-term support. We are not suggesting new positions at this time. 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: 21.05 change: -0.01 stop: 19.99
We do not see any real changes from our previous comments on SYX. 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: 14.07 chg: -0.18 stop: 13.95
It's not looking good for our play in VSE. The stock just posted its fourth decline in a row and technicals have turned bearish. The stock is testing support near $14.00. It wouldn't take much to stop us out at $13.95. We're not suggesting new positions at this time.
Picked on June 29 at $14.21
Short Play Updates
Empresa Natl. Elec. - EOC - cls: 45.46 chg: -0.59 stop: 48.05*new*
EOC is slipping again. Shares lost 1.28%. Yet we're not suggesting new positions. Our concern is potential support near $45.00 and its rising 100-dma. We are adjusting our stop loss to $48.05, which is still above the 10 and 50-dma. 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: 72.05 chg: -0.95 stop: 75.01
That's not a typo. The XLE has fallen 95 cents for two days in a row. The energy SPDR is now testing short-term support near $72.00. We don't really expect a correction in oil and oil stocks for another couple of weeks but if it starts early we're ready. 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
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Closed Short Plays