Long Play Updates
Evergreen Solar - ESLR - cls: 15.63 chg: -0.10 stop: 14.85*new*
Shares of ESLR took a day off to rest. The stock traded sideways and closed virtually unchanged on the session. We don't see any changes from our previous comments. Due to the big intraday swings we're labeling this an aggressive, high-risk play. Bulls have been buying dips near ESLR's rising 10-dma so we're suggesting a stop just under the 10-dma. Please note we're adjusting our stop loss to $14.85. The stock appears to have significant resistance in the $17.50-18.00 range. We're suggesting long positions now and we'll target a move to $17.45. That should be good for an 11% gain. The P&F chart is much more bullish with a $36 target.
Picked on December 18 at $15.70
Coca-Cola - KO - close: 62.28 change: -0.57 stop: 61.45
Uh-oh! There was no follow through on yesterday's bounce. That's not a good sign for the bulls. Readers should turn defensive here. Our target is the $66.00-67.00 range. The bullish P&F chart suggests a $69 target.
Picked on November 15 at $61.95
PC Mall - MALL - close: 10.56 change: +0.10 stop: 9.90
MALL tried to rally again today. Shares made it to $11.24 before paring its gains. We remain cautious on this volatile stock. MALL has already hit our initial target at $12.25. Our second, more aggressive target is the $13.75-14.00 region. FYI: The P&F chart is still bearish following the sharp sell-off. We would consider this an aggressive play given the stock's volatility.
Picked on December 04 at $10.25 *triggered
Short Play Updates
Bob Evans Farms - BOBE - cls: 26.70 chg: -0.39 stop: 30.11
BOBE continues to under perform. The stock hit an intraday low of $26.20. Shares are beginning to look a little short-term oversold. It's probably time to expect a bounce. Look for resistance near $28.00 and then near $29 and its 50 and 10-dma. We're aiming for the $25.25-25.00 zone. FYI: The most recent data puts short interest at 11.6% of the 32.74 million-share float. That is a relatively high amount of short interest and raises the risk of a short squeeze.
Picked on December 16 at $29.01
Mack-Cali Realty - CLI - cls: 33.16 chg: +0.63 stop: 34.51
We don't see any changes from our Wednesday comments. CLI has produced a short-term bullish reversal and we're expecting the stock to bounce back toward what should be resistance near $34.00. More conservative traders may want to use a stop loss closer to $34.00. Our target is the $30.25-30.00 range. The P&F chart is bearish with a $27 target.
Picked on December 16 at $32.74
DELL Inc. - DELL - close: 24.89 change: +0.53 stop: 25.05
A strong earnings report from Oracle (ORCL) helped fuel a rally in technology stocks today. The NASDAQ composite added 1.5%. Shares of DELL rose 2.1% and came close to hitting our stop loss. Technical trades will note that the MACD on DELL's daily chart has produced a new bullish buy signal. A failed rally from here could be used as a new bearish entry point for shorts. Our target is the $22.10-22.00 zone above the March lows. The P&F chart is very bearish with a $17.00 target.
Picked on December 11 at $24.36
Granite Constr. - GVA - close: 37.28 change: -0.27 stop: 42.15
GVA sank to another new relative low (36.14) but managed to recoup a good portion of its losses. Readers can expect a bounce back toward $38.00 and if the market rallies than a potential bounce back toward $40.00. We are adjusting our stop loss toward $41.05. Broken support near $40.00 should be new resistance. Our target is the $34-33 range near its lows for the year. FYI: The most recent date puts short interest at 7.8% of the 34.4 million-share float.
Picked on December 16 at $38.73
IAC Interactive - IACI - cls: 27.18 chg: +0.35 stop: 28.81
Readers need to be cautious here. After three days of trading sideways near support IACI may have put in a short-term bottom. If the market shows any strength we'd expect this stock to rebound toward $28 again. Wait for another failed rally or a new drop under $26.00 as an entry point (although if you're shorting it under $26 we suggest aiming for our second target). We have two targets. Our first target is the $25.50-25.00 range. The H&S pattern, if it follows through, is forecasting a target in the $22 region. Our second, more aggressive target will be the $22.50 level. The P&F chart is still bullish for now but is on the verge of a breakdown. FYI: The latest data puts short interest at about 4% of the 120 million-share float.
Picked on December 11 at $27.60
Medicis Pharma - MRX - close: 26.05 change: +0.34 stop: 28.05
MRX is bouncing again. Shares could rebound toward $26.50 or the 50-dma near $27.00. Wait for a failed rally before considering new positions. Our target is the $23.00-22.50 zone. The P&F chart is bearish with a $19 target. FYI: Any time we play a biotech stock we're dealing with a high-risk situation. MRX seems to be more of a drug company but we're still at risk that some FDA decision or some clinical trial news could send the stock gapping one direction or the other. Furthermore the most recent data puts short interest at more than 23% of MRX's 49.2 million-share float. That is a high-degree of short interest and raises the risk for a short squeeze.
Picked on November 18 at $26.08
Tempur-Pedic Intl. - TPX - cls: 26.95 chg: -0.04 stop: 30.67
It was a quiet session for TPX. The stock traded sideways in a 75-cent range. We don't see any changes from our previous comments. We're not suggesting new positions at this time and more conservative traders may want to take some profits right now. The stock has already exceeded our first target in the $27.25-27.00 range. Our second target is the $25.25-25.00 range. FYI: It's important to note that the most recent data puts short interest at almost 19% of the 68-million share float. That is a high degree of short interest and raises the risk of a short squeeze.
Picked on December 12 at $30.67
Closed Long Plays
Salesforece.com - CRM - close: 64.99 change: +5.04 stop: 55.95
Target achieved. CRM soared today adding more than 8% on strong volume. Our target was the $64.00-65.00 range. We'll keep an eye on CRM for future trading opportunities. Broken resistance near $60 should be new support.
Picked on December 11 at $59.25 *triggered
Closed Short Plays
C.H.Robinson - CHRW - cls: 52.95 chg: +1.27 stop: 54.55
Sound the alarm! It's time to abandon ship with CHRW. After several days of trading sideways the stock is breaking out higher. We are suggesting an early exit now to limit our losses. Truly nimble traders may want to consider switching to long positions with a stop loss under the 200-dma near $51. CHRW should have resistance in the $54.50-56.00 range.
Picked on December 16 at $51.52