Long Play Updates
Boyd Gaming - BYD - cls: 43.57 chg: -0.17 stop: 40.90
BYD experienced some profit taking midday but traders bought the dip near its 50-dma and the stock looks poised to challenge the $44 level again tomorrow. Our target is the $44.90-46.00 range.
Picked on September 04 at $41.55
Coach Inc. - COH - cls: 47.67 change: -0.61 stop: 45.75
Target (TGT) reduced its September sales out look and that undermined the entire retail sector. Shares of COH posted its third loss in a row and dipped toward what should be support near its 10, 100 and 200-dma. A bounce from here could be used as a new bullish entry point. Our target is the $51.85-52.00 range. More aggressive traders could aim for the April highs near $54.00. The P&F chart points to a $63 target. We do not want to hold over the late October earnings report.
Picked on September 19 at $48.70 *gap higher
Cisco Systems - CSCO - cls: 31.88 change: -0.42 stop: 30.90
There is no change from our weekend comments on CSCO. We're waiting for a breakout to a new relative high. We want to capture that breakout and we're suggesting a trigger to buy the stock at $32.65. If triggered our target is the $34.75-35.00 range.
Picked on September xx at $xx.xx <-- see TRIGGER
Global Ind. - GLBL - cls: 25.22 chg: -0.34 stop: 23.99 *new*
Oil and oil services stocks all suffered some profit taking today. We are somewhat concerned about the extended rally in crude oil. The commodity is due for a correction, which should weigh on the sector. While the intraday bounce in GLBL today looks like a new entry point we're going to inch up our stop loss to $23.99. Our target is the $28.00-29.00 range.
Picked on September 06 at $24.65
Gamestop - GME - close: 56.17 chg: +0.89 stop: 49.95
Another day, another gain for GME. The stock's momentum produced another 1.6% gain. The HALO3 hype comes to a head tonight at midnight and tomorrow. We'd like to see one last pop tomorrow as Microsoft expects to sell about $200 million worth of Xbox 360s and HALO3 games in the next 24 hours. GME should definitely benefit from the game launch. Readers should be warned that GME's stock could see a "sell the news" reaction so be ready to exit. The intraday high today was $56.83. Our target is the $57.00-60.00 range.
Picked on September 17 at $52.10
Liberty Global - LBTYA - cls: 42.20 change: -0.13 stop: 39.99
LBTYA bounced around its $42-43 trading range. We remain bullish on the stock although readers could look for a dip near $41.50 as an alternative entry point (or a rise over $43.00). Our short-term target is the $44.85-45.00 range. More aggressive traders may want to aim higher.
Picked on September 23 at $42.33
NET Services - NETC - cls: 15.33 change: +0.14 stop: 13.90
NETC gapped open higher this morning. Shares opened at $15.60 and hit $15.70 before pulling back. We couldn't find anything specific to account for the early morning strength. Our suggested trigger to open positions was at $15.60 so the play is now open. A rebound tomorrow could be used as a new entry point. Our target is the $17.75-18.00 range. The P&F chart is bullish with a $21 target. FYI: We can't find a third quarter earnings date yet but the company has a history of reporting in late October or early November. We don't want to hold over the earnings report.
Picked on September 24 at $15.60
Westwood One - WON - cls: 2.98 chg: +0.23 stop: 2.24
Hmm... we are encouraged by WON's relative strength today. The stock rose another 8.3% and did so on big volume. Unfortunately, we were expecting a dip after Friday's big gain so we listed an entry zone in the $2.60-2.50 region. The $3.00 level looks like short-term support so wait for a pull back before entering new positions. We'll stick with our $2.60-2.50 entry zone for now. If triggered we're going to target a rebound into the $3.25-3.50 range.
Picked on September xx at $xx.xx <-- see TRIGGER
Wyndham Worldwide - WYN - cls: 31.32 change: -0.78 stop: 29.90
WYN is still struggling. The stock produced another failed rally under its 50-dma. Shares are headed toward what should be short-term support in the $31.00-30.50 zone. We're not suggesting new bullish positions at this time but we will be watching for a rebound in the $31.00-30.50 region. Our target is the $33.90-35.70 range. FYI: The P&F chart is still bearish from the summer sell-off.
Picked on September 19 at $32.15
Short Play Updates
Commscope - CTV - cls: 51.87 change: -0.75 stop: 56.21
CTV lost 1.4% and broke down under short-term support at the $52.00 level. Today's decline has produced a new triple-bottom breakdown sell signal on the P&F chart with a $45 target. We were suggesting a trigger to short CTV At $51.75 so the play is now open. Our target is the $47.00-45.00 range but we'll be watching for potential support at the rising 200-dma.
Picked on September 24 at $51.75
Varian Medical - VAR - cls: 38.87 chg: -0.41 stop: 40.21
Today's decline in VAR would appear to confirm Friday's bearish engulfing candlestick pattern. We don't see any changes from our weekend comments. We're suggesting shorts at current levels. Our target is the $35.50-35.00 range. The P&F chart is bearish and points to a $31 target. We do not want to hold over the late October earnings report.
Picked on September 23 at $39.28
Closed Long Plays
Closed Short Plays