Long Play Updates
Columbia Sportswear - COLM - cls: 68.93 chg: +0.72 stop: 66.99
There is no change from our weekend comments on COLM. 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 - GLF - cls: 54.85 change: -0.90 stop: 53.74
Warning! GLF has produced a bearish reversal with today's failed rally and bearish engulfing candlestick pattern. More conservative traders may want to exit early here to limit/avoid any losses. We're not suggesting new positions at this time. Our target is the $59.50-60.00 range.
Picked on July 09 at $54.55
Intl. Flavors - IFF - cls: 52.09 change: +0.25 stop: 51.45
IFF produced a minor bounce today. Unfortunately, the stock appears like it still wants to head lower. We're not suggesting new positions at this time. 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. 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: 53.11 chg: -0.69 stop: 51.75
We are down to our last two days with RAIL. The plan is to exit at the closing bell on July 25th to avoid holding over the earnings on July 26th. Today's pull back should now be a surprise. We've been warning readers that RAIL was overdue for a correction. Traders actually bought the dip near its rising 10-dma. Our target is the $57.00-58.00 range.
Picked on July 15 at $52.73
Bankrate - RATE - cls: 50.19 chg: -0.54 stop: 48.99
This is not looking good for the bulls. One analyst firm came out and reiterated their "out perform" rating on RATE but the stock failed to hold any gains. Shares are slipping fast toward round-number support near $50.00. 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.
Picked on July 15 at $51.96
Short Play Updates
Boston Scientific - BSX - cls: 14.70 change: -0.09 stop: 15.51
BSX produced a new relative low on Monday but unfortunately the stock also bounced back from its lows of the session. Look for a failed rally near $15.00 or its 10-dma as a new bearish entry point for shorts. We are going to list two targets. Our conservative target is the $14.05-14.00 range since BSX could have support near the March 2007 lows. Our more aggressive target is the $13.55-13.50 zone.
Picked on July 22 at $14.79
Group 1 Automotive - GPI - cls: 37.71 change: -0.51 stop: 40.26
We do not see any changes from our weekend comments on GPI. The stock continues to look weak and lost 1.3% today. We only have five trading days since we plan to exit ahead of the earnings report on July 31st. Our target is the $35.15-35.00 range. More aggressive traders may want to aim lower. The Point & Figure chart has a relatively new triple-bottom breakdown sell signal with a $33 target.
Picked on July 22 at $38.22
Mattel - MAT - cls: 24.56 change: -0.12 stop: 26.15
Rival toymaker Hasbro (HAS) reported earnings today and beat estimates by 6 cents. That may have stalled the sell-off in shares of MAT but MAT still managed a new relative low. We don't see any real changes from our weekend comments. The MACD on the daily chart has produced a new sell signal. We're suggesting shorts with MAT under $25.00. Our target is the $22.05-22.00 range.
Picked on July 22 at $24.68
UnitedHealth - UNH - cls: 51.17 change: -0.15 stop: 52.05
The bounce in UNH today didn't make it very far before rolling over again. If UNH breaks down under support at the $50.00 level we want to be ready. We're suggesting a trigger to short the stock at $49.95. If triggered our target is the $45.25-45.00 range. The P&F chart is already bearish and points to a $46 target.
Picked on July xx at $xx.xx <-- see TRIGGER
Energy Sector SPDR - XLE - cls: 74.30 chg: +0.30 stop: 75.01
Crude oil futures turned lower but some M&A activity in the oil services industry helped alleviate some of the weakness in energy stocks. 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
Closed Short Plays