Long Play Updates
Boyd Gaming - BYD - cls: 43.25 chg: -0.07 stop: 41.55
Sector leaders like WYNN and LVS managed a bounce after yesterday's profit taking. BYD did not have the same luck and shares turned lower in spite of being upgraded this morning. The stock actually produced a bearish failed rally pattern and a bearish engulfing candlestick pattern. Readers may want to exit early right now to lock in a gain. We're not suggesting new positions. Our target is the $44.90-46.00 range.
Picked on September 04 at $41.55
Cisco Systems - CSCO - cls: 32.15 change: -0.30 stop: 30.90
We have been warning readers to look for a dip in CSCO near $32.00. That dip occurred today with an intraday low of $31.88. The stock did pare its losses but tomorrow's direction will probably depend on how investors interpret the jobs report number. Technically a bounce from here would be a new entry point to buy the stock! Our target on CSCO is the $34.75-35.00 range.
Picked on September 26 at $32.65
Global Ind. - GLBL - cls: 27.27 chg: +1.21 stop: 24.95 *new*
It looks like our patience with GLBL might pay off. Shares of GLBL out performed the market with a 4.6% rally. We did not see anything specific in the news to account for the move. The stock is now up more than 10% from our picked price. Readers will want to strongly consider doing some profit taking right here. We are raising our stop loss to $24.95. We're not suggesting new positions at this time. Our target is the $28.00-29.00 range.
Picked on September 06 at $24.65
NET Services - NETC - cls: 16.35 change: +0.34 stop: 15.60
NETC is bouncing from short-term support. Aggressive traders might want to consider buying the bounce but if you open new positions now we would use a very tight stop loss. 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: 35.98 change: +0.16 stop: 33.75
Semiconductor stocks continued to under perform but traders did buy the dip in NVDA near $35.00 (actually 34.75). The intraday rebound today looks like a new bullish entry point and we would use it as one. Yet we do want to point out that the short-term technical indicators have turned bearish. More conservative traders may want to tighten their stops. Our target for NVDA 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
Sirius Satellite Radio - SIRI- cls: 3.40 change: -0.06 stop: 3.19
We want to remind readers that this is a high-risk, speculative play. The stock lost 1.7% and dipped toward short-term support near $3.40 and its 10-dma. A bounce from here could be used as a new bullish entry point. We're keeping our stop loss at $3.19 but readers may want to consider a tighter stop closer to $3.40. In the news today SIRI and XMSR, its merger partner, announced that the companies had set November 13th as the day shareholders will vote to approve the merger deal. Bear in mind that the FCC and the Department of Justice still have to provide their okay for the merger to occur. There has been a lot of new talk about the proposed merger between SIRI and XMSR never getting completed. Thus far the recent comments on the merger have not derailed the rally in SIRI but future headlines could send the stock moving sharply lower and thus remains a risk. Our target is the $3.95-4.00 range.
Picked on September 30 at $ 3.49
Westwood One - WON - cls: 2.89 chg: -0.07 stop: 2.45
We do not see any changes from our Wednesday night comments, which we're reposting here: We're going to adjust our suggested entry point range from $2.60-2.50 to $2.70-2.60. We want to see WON dip into this zone and then readers can buy it on a rebound back through $2.70. Our new stop loss will be $2.45. If triggered we're going to target a rebound into the $3.25-3.50 range. Be aware that the 50-dma near $3.35 could be overhead resistance.
Picked on September xx at $xx.xx <-- see TRIGGER
Wyndham Worldwide - WYN - cls: 32.62 change: +0.02 stop: 30.89
Traders continue to buy the dips in WYN but today's intraday decline under short-term support near $32.00 is a warning for the bulls. Readers may want to use a tighter stop loss. We're not suggesting new positions at this time. Our target is the $33.90-35.70 range. One concern is potential resistance at the 100-dma and 200-dma that are near the $34.00 level.
Picked on September 19 at $32.15
Zoltek - ZOLT - cls: 43.72 change: -0.18 stop: 39.95
Shares of ZOLT followed the market and traded sideways. Watch for a dip and bounce near its 10-dma around $43.20 or near the $42.50 level as a potential entry point. More conservative traders may want to consider a tighter stop loss. 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: 51.56 change: +0.37 stop: 53.51*new*
CTV displayed weakness intraday but traders bought the dip near the October 1st low. This could be the beginning of a short-term bullish, double-bottom pattern. Readers might want to tighten their stops. If the markets react positively to Friday's jobs report we would expect CTV to rally with the market. We are adjusting our stop loss to $53.51. Our target is the $47.00-45.00 range but we'll be watching for potential support at the rising 200-dma. The P&F chart points to a $43 target.
Picked on September 24 at $51.75
Microchip - MCHP - cls: 36.53 change: -0.19 stop: 37.36
We do not see any changes from our Wednesday night comments. If MCHP doesn't start moving our direction soon we'll drop it as a potential play. At the moment we're suggesting a trigger for shorts in MCHP at $35.79. If triggered at $35.79 our target is the $33.00-32.50 range. We did note that the P&F chart is still bullish and it will take a new decline under $35.00 to reverse that pattern.
Picked on September xx at $xx.xx <-- see TRIGGER
Supervalu - SVU - cls: 37.16 change: +1.08 stop: 40.01
SVU produced a sharp oversold bounce (+3%) today. Watch for SVU to encounter short-term technical resistance at its 10-dma near $38.00. A failed rally near $38 could be used as a new bearish entry point but if you're launching new positions you may want to use a tighter stop loss. We're aiming for $35.25-35.00.
Picked on September 30 at $38.05 *gap down
Closed Long Plays
Intel - INTC - cls: 25.62 change: -0.19 stop: 25.39
Semiconductor stocks continued to under perform and INTC dipped to an intraday low of $25.37. Our stop loss was at $25.39 so the play is now closed. We would keep an eye on INTC for a bullish breakout over $26.50, which could happen tomorrow if the market decides to interpret tomorrow's jobs report positively.
Picked on October 02 at $26.55
TASER Intl. - TASR - cls: 18.05 change: +1.47 stop: 15.45
Target achieved and exceeded. Shares of TASR soared another 8.8% and on strong volume. This is probably a combination of real buying and a short squeeze since TASR has so much short interest (about 22% of its float). We heard that today's rally was sparked by word that the company might land a bigger contract from French law enforcement agencies. Our target was the $17.75-18.00 range.
Picked on October 01 at $16.20
Closed Short Plays