Long Play Updates
Boyd Gaming - BYD - cls: 43.75 chg: -0.18 stop: 41.55
We don't see any changes from our previous comments on BYD. The trend is still bullish but we're not suggesting new positions at this time. Our target is the $44.90-46.00 range.
Picked on September 04 at $41.55
Coach Inc. - COH - cls: 46.99 change: +0.03 stop: 45.99
Wednesday marked the second time in as many days that traders bought the dip near COH's support around $46.00 and its 50-dma. Unfortunately, it's also the second day in a row that the rebound couldn't push past resistance near $47.25 and its 200-dma. Look for a rally past $47.50 or its 10-dma near $47.75 as a new entry point to buy COH. 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: 32.99 change: +0.55 stop: 30.90
CSCO did its part to help lead the tech sector higher today. Shares spiked higher at the open (gapping open at $32.65) and climbing to the $33.00 level. Volume came in above average on the 1.7% gain. Our suggested trigger to buy the stock was $32.65 so the play is open. Our target is the $34.75-35.00 range.
Picked on September 26 at $32.65
Global Ind. - GLBL - cls: 25.70 chg: -0.12 stop: 23.99
We don't see any changes from our previous comments on GLBL. We're not suggesting new positions at this time. More conservative traders might be tempted to raise their stops toward the 50-dma near $24.50. Our target is the $28.00-29.00 range.
Picked on September 06 at $24.65
Liberty Global - LBTYA - cls: 42.20 change: +0.02 stop: 39.99
LBTYA is going nowhere fast. The stock's sideways consolidation is narrowing and that normally suggests a breakout one way or the other is getting closer. If shares don't move by the end of this week we'll drop it as a candidate. A rally from here, near $42, could be used as a new bullish entry point but if the market and LBTYA see any weakness we would watch for a bounce near its 10-dma (41.78) or the $41.50 area as a new entry point as well. 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: 16.08 change: +0.32 stop: 13.90
The rally in NETC continues. The stock posted another 2% gain and confirmed its breakout over the 100-dma. We remain bullish on the stock here. 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
NVIDIA - NVDA - close: 36.67 change: +0.85 stop: 33.75
The rally in NVDA continued into Wednesday. Shares broke through resistance near $36.00 and hit another new all-time high. Our suggested trigger to buy NVDA was at $36.15 so the play is open. Our target is the $39.00-40.00 range. We do not want to hold over the early November earnings report. FYI: The Point & Figure chart is bullish with a $55 target.
Picked on September 26 at $36.15
Westwood One - WON - cls: 2.90 chg: -0.17 stop: 2.24
Shares of WON experienced some profit taking today. The stock lost 5.5% and produced a bearish engulfing candlestick pattern. This is a speculative, higher-risk play so we're sticking to our plan. Currently our plan suggests that readers wait for a pull back into the $2.60-2.50 zone to buy the stock. At this time we would change that. Wait for WON to dip into that zone and then rally back out of it again as our signal to go long the stock. 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: 31.90 change: +1.27 stop: 30.35*new*
Wow! Sometimes it's amazing the difference a day can make. Shares of WYN exploded higher with a 4.1% rally on big volume. The rally did stall near resistance at the $32.00-32.25 region but today's action has certainly breathed new life into this play. A new relative high over $32.30 could be used as a new entry point. We're raising our stop loss toward yesterday's low at $30.35. 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
Zoltek - ZOLT - cls: 41.85 change: +0.11 stop: 39.95
ZOLT is still consolidating sideways. The stock is struggling with technical resistance at its 50-dma near $42.50. More conservative traders might want to wait for a rally past $44.00 since that might be short-term overhead resistance. Our target is the $$49.00-50.00 range. The P&F chart is bullish with a $51 target.
Picked on September 24 at $43.06
Short Play Updates
Commscope - CTV - cls: 51.95 change: -1.02 stop: 56.21
Today's action in CTV looks like a bearish failed rally and thus a new entry point for shorts. 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
Media General - MEG - cls: 27.27 change: +0.44 stop: 28.55
There is no change from our previous comments on MEG. We're suggesting a trigger to short MEG at $26.45. If triggered our target is the $22.50-22.00 range. The Point & Figure chart is very bearish with a $10 target. We do not want to hold over the mid October earnings report. Due to the stock's trend the bears have been piling on top of this stock. Short interest is pretty high at more than 17% of the stock's 20.8 million-share float. The combination of high short interest and a small float is a dangerous combination and raises the risk of a short squeeze. A stop loss will not always save us. More conservative traders may want to pass on this play.
Picked on September xx at $xx.xx <-- see TRIGGER
Closed Long Plays
Closed Short Plays
Varian Medical - VAR - cls: 40.13 chg: +1.04 stop: 40.21
Shares of VAR experienced steady buying pressure all day long and by the closing bell shares had hit our stop loss at $40.21. Today's move has reversed last Friday's bearish reversal pattern and the close resistance at $40.00 is pretty bullish.
Picked on September 23 at $39.28