Long Play Updates
Apria Healthcare - AHG - cls: 29.85 chg: -0.36 stop: 28.99
AHG continues to see some profit taking but the stock did bounce from technical support at its 50-dma this morning. Unfortunately, we remain defensive. Volume has been rising on the declines, which is bearish. Plus, the MACD on the daily chart just produced a new sell signal. We are not suggesting new positions and more conservative traders may want to exit early here to cut their losses. If we don't see a bounce soon we'll probably abandon ship.
Picked on July 08 at $31.12
Columbia Sportswear - COLM - cls: 68.81 chg: +0.45 stop: 66.99
There is no change from our previous comments. COLM is still bouncing along its rising 50-dma. Unfortunately, we're running out of time. COLM is due to report earnings on July 26th and we don't want to hold over the announcement. 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: 55.33 change: +0.39 stop: 53.45 *new*
GMRK is still bouncing and today's rebound looks like another entry point to buy the stock. Our biggest concern is earnings. We can't find a confirmed earnings date, which makes it challenging to plan an exit to avoid holding over the report. While we are suggesting new positions now readers need to be ready to exit quickly. We are adjusting our stop loss to $53.45. Our target is the $59.50-60.00 range. FYI: GMRK is expected to start trading on the NYSE tomorrow, July 20th, and the new symbol should be GLF.
Picked on July 09 at $54.55
Intl. Flavors - IFF - cls: 53.20 change: +0.59 stop: 51.45
Today's bounce in IFF just confirms our thoughts from yesterday. The move looks like a new entry point to buy the stock. 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: 54.60 chg: +0.46 stop: 49.95
RAIL is still inching higher. Shares posted a 0.8% gain today in spite of a minor pull back in the railroad sector index. We remain bullish on the stock but we're not suggesting new positions at current levels. We only have a few days left and plan to exit at the closing bell on July 25th to avoid holding over the earnings on July 26th. Our target is the $57.00-58.00 range.
Picked on July 15 at $52.73
Bankrate - RATE - cls: 51.53 chg: +0.84 stop: 48.99
RATE out performed its peers in the financial sector. The stock rose 1.6% and is beginning to bounce after three days of consolidation above the $50 level. Today's move looks like a new entry point to buy the stock. Bear in mind that we don't have much time left and plan to exit ahead of the earnings report. 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
Systemax Inc. - SYX - cls: 21.05 change: -0.06 stop: 19.99
SYX isn't making any progress and today's performance left shares lagging the broader market. We are reiterating our previous comments that readers may want to stick to our plan and wait for a new rise past $22.00 before initiating positions. Our first target is the $24.90-25.00 range. Beware potential resistance at the $24.00 level. 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
Short Play Updates
Empresa Natl. Elec. - EOC - cls: 46.06 chg: +0.11 stop: 48.05
EOC is still consolidating sideways above support near $45.00 and its rising 100-dma. We are not suggesting new positions at this time. If the markets continue to rally we would expect EOC to bounce towards resistance near its 50-dma around $47.00-47.20. More conservative traders may want to exit early right here since we're also facing a potential earnings report sometime next week (date unconfirmed).
Picked on July 08 at $47.50
Energy Sector SPDR - XLE - cls: 74.35 chg: +0.67 stop: 75.01
Oil stocks continue to rally. At this time we don't see any changes to our previous comments. 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
Closed Long Plays
Royal Gold - RGLD - cls: 27.72 change: +0.47 stop: 24.95
Target achieved. Gold stocks continued to rally and RGLD managed to close with a 1.7% gain. The intraday high was $27.97. Our target was the $27.90-28.00 range. If you did not exit we suggest caution. The $28.00 level looks like resistance in addition to the descending 100-dma near $28.20.
Picked on July 08 at $25.75
Closed Short Plays