Long Play Updates
Boyd Gaming - BYD - cls: 41.59 chg: +0.34 stop: 39.49
Traders bought the dip in BYD at its rising 10-dma again. This continues to look like a new entry point for bullish positions. However, we'd wait until after we see the market's reaction to the jobs report data on Friday morning. Our target is the $44.90-46.00 range. Keep a wary eye on the simple 50-dma for potential overhead resistance. The Point & Figure chart is still very bearish following the late summer sell-off.
Picked on September 04 at $41.55
Cameco Corp. - CCJ - cls: 41.47 chg: +0.97 stop: 37.95 *new*
CCJ ended the day with a 2.39% gain on decent volume. The move was fueled by a big rally around 11:15 a.m. That's when CCJ put out a press release stating the company would launch a stock buy back program with plans to buy back up to 5% of the company's common stock or $750 million worth of stock. If CCJ provides another dip or bounce near $40.00 it could be used as another bullish entry point. We're raising our stop loss to $37.95 and more conservative traders might want to put their stop closer to $39. Our target is the $44.50-45.00 range. Readers should note that the 50-dma and the 200-dma could be serious overhead resistance. FYI: We think CCJ has the potential to be a long-term hold given its fundamentals and position in the industry. Readers may want to do some more research on it.
Picked on August 27 at $40.26
Brinker Intl. - EAT - cls: 29.33 change: +0.20 stop: 27.99
EAT is inching higher. The stock has been able to hold on to the $29.00 level. It might be possible to extrapolate from today's better than expected retail sales numbers that if the consumer is holding up for the retailers the consumer is probably holding up for the restaurants. EAT does not move super fast so this could take a few weeks but our target is the $31.75-32.00 range. We do expect to see EAT find temporary resistance near $30 and again at the 100-dma and 200-dma both overhead. FYI: The P&F chart is still bearish from the June-July sell-off. Meanwhile it just happens to be dividend season for EAT and they are paying a 9-cent quarterly dividend on September 26th to shareholders on record as of September 14th.
Picked on September 02 at $28.84
EON AG - EON - cls: 54.89 change: +0.11 stop: 52.99
Investors bought the dip in EON near $54.30. While the closing numbers today were not very impressive this might be another entry point to go long the stock. We are tempted to raise the stop loss toward the $54.00 level. Our target is the $57.40-59.85 range. More aggressive traders may want to aim higher.
Picked on August 26 at $54.55
Global Ind. - GLBL - cls: 24.86 chg: +0.72 stop: 22.39
We are finally seeing some action in GLBL. The stock broke out higher from its sideways consolidation. Shares punched through resistance near $24.50 and closed up 2.9% on improving, but still below average, volume. Our suggested trigger to buy the stock was at $24.65. The next challenge for the bulls is potential resistance at the 50-dma overhead. More conservative traders might want to use a tighter stop near $23.00 or $23.50. We're leaving our stop at $22.39 for now. Our target is the $28.00-29.00 range.
Picked on September 06 at $24.65
Starbucks - SBUX - cls: 27.58 chg: +0.14 stop: 26.61
We do not see any changes from our previous comments on SBUX. We're not suggesting new positions at this time. Our target is the $28.00-28.25 range and we're concerned about technical resistance at the 100-dma near 28.05.
Picked on August 16 at $26.61
Wyndham Worldwide - WYN - cls: 31.64 change: -0.05 stop: 29.90
There is no change from our previous comments on WYN. We are suggesting a trigger to buy the stock at $32.15. If triggered we're going to have two targets. Our first target is the $33.90-34.00 zone, which should have resistance with its 200-dma. Our second, more-aggressive target is the $35.70-36.00 range. Keep an eye on the 50-dma for potential resistance. FYI: The P&F chart is still bearish from the late summer sell-off. More conservative traders may want to use a tighter stop loss near $31.00.
Picked on September xx at $xx.xx <-- see TRIGGER
Short Play Updates
Closed Long Plays
Closed Short Plays