Long Play Updates
Columbia Sportswear - COLM - cls: 68.21 chg: -0.60 stop: 66.99
COLM is still bouncing around the $67-70 trading range. We are running out of time. More conservative traders may want to exit early now to cut their losses. We are planning to exit at the closing bell on Thursday, July 26th, to avoid holding over earnings. 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: 55.75 change: +0.42 stop: 53.74 *new*
On Friday GulfMark's stock symbol changed to "GLF" as it began trading on the NYSE. Shares turned in a bullish session rising 0.7%. We are still suggesting new positions at this time, especially now that the company has come out with its earnings report date of August 1st. That gives us about seven trading days. Our target is the $59.50-60.00 range. Please note that we're inching up the stop loss to $53.74.
Picked on July 09 at $54.55
Intl. Flavors - IFF - cls: 51.84 change: -1.36 stop: 51.45
Uh-oh! IFF has reversed course on us. Shares lost 2.55% on above average volume on Friday. The close under $52.00 is bad news for the bulls. The only reason we're not suggesting an early exit now is because IFF should have technical support at the 50-dma near $51.68. However, if the markets see any kind of follow through lower on Monday we would expect IFF to stop us out. We are not suggesting new positions at this time. 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: 53.80 chg: -0.80 stop: 51.75*new*
Railroad stocks posted another day of profit taking. The group hit new highs on Wednesday. Shares of RAIL have been looking a bit extended and we've been warning readers that a pull back was imminent. Currently we're down to our last three days for this play. The plan is to exit at the closing bell on July 25th to avoid holding over the earnings on July 26th. Considering our time frame we are raising the stop loss to $51.75. Our target is the $57.00-58.00 range.
Picked on July 15 at $52.73
Bankrate - RATE - cls: 50.73 chg: -0.80 stop: 48.99
Financials were very weak on Friday and RATE gave back most of its gains from Thursday. The stock is bouncing around the $50-52 range. While the overall trend is bullish if the financials continue lower then we would expect RATE to follow. More conservative traders may want to tighten their stops toward the $50.00 level. We're not suggesting new positions at this time. 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
Short Play Updates
Energy Sector SPDR - XLE - cls: 74.00 chg: -0.35 stop: 75.01
The XLE and crude oil are both trading near their highs. That's okay with us. 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
Apria Healthcare - AHG - cls: 29.57 chg: -0.28 stop: 28.99
AHG hit our stop loss at $28.99 on Friday. The stock was weak from the start of Friday's session with a spike down toward the $29.00 level. Midday it broke down under $29.00 before paring its losses. If you look at the daily chart the big afternoon bounce almost looks like a new entry point but we want to point out that volume has been big on the declines and the MACD on the daily chart has turned bearish.
Picked on July 08 at $31.12
Systemax Inc. - SYX - cls: 20.51 change: -0.54 stop: 19.99
We are closing SYX as a bullish play. Most quote services will tell you that the intraday low was $19.90. That appears to be a bad tick. Any intraday chart will show you that SYX only traded to $20.08. However, we have a habit of closing the play on a bad tick just to be conservative. Given the intraday rebound readers may want to keep the play open.
Picked on July 12 at $22.01
Closed Short Plays
Empresa Natl. Elec. - EOC - cls: 45.21 chg: -0.85 stop: 48.05
We are suggesting an early exit with EOC. The stock lost 1.8% on Friday and retested support near $45.00 and its rising 100-dma. What concerns us is the earnings report. We can't find a confirmed date and the only dates we do find are July 24-26th. We'd rather exit now than be surprised by an earnings announcement.
Picked on July 08 at $47.50