Long Play Updates
ArthroCare - ARTC - close: 51.13 change: -1.16 stop: 48.49
ARTC provided a nearly perfect entry point today. Shares pulled back toward support near $50. The actual intraday low was $49.77. Traders were stepping in to buy the dip this afternoon. We were suggesting a trigger to buy the stock in the $50.50-49.50 range. Now that the play is open our target is the $54.50-55.00 range.
Picked on January 09 at $50.50 *triggered
Move Inc. - MOVE - cls: 2.19 change: -0.02 stop: 2.14
It was a very close call. MOVE dipped to an intraday low of $2.15. Our suggested stop loss is at $2.14. The sad news is that the afternoon bounce was not very impressive. We hesitate to buy the stock at this point although a move over $2.35 might change our mind. Our target is the $2.65-2.75 range.
Picked on January 07 at $ 2.32 *triggered
Parexel Intl. - PRXL - cls: 53.00 chg: +2.60 stop: 47.90
Wow! PRXL turned in a very impressive day. Shares rallied more than 5% and closed at new highs. Unfortunately, we were looking for a dip into the $49.50-48.50 zone. The stock never traded under $50.20 today. At this point we're adjusting our suggested entry point to $50.25-49.50. Plus, we're adjusting our stop loss to $47.90.. FYI: We don't have a lot of time. PRXL is due to report earnings on January 23rd and we do not want to hold over the report.
Picked on January xx at $xx.xx <-- see TRIGGER
Ryland Group - RYL - cls: 21.89 chg: +0.78 stop: 19.49
Our bullish play in RYL is now open. Our suggested entry point was the $20.25-20.00 zone and shares hit $20.25 intraday. The big afternoon bounce means we're already up a hypothetical 8%. Now that the play is open our target is the $23.90-24.00 range. We won't have a lot of time since we plan to exit ahead of the late January earnings report.
Picked on January 09 at $20.25 *triggered
XTO Energy - XTO - close: 55.74 chg: +2.63 stop: 51.79
XTO is showing some real strength today. The stock rallied almost 5% and broke through the $54 and $55 levels on strong volume. This is a new all-time high. If you are looking for an entry point watch for a dip near $54.50. Our target is the $59.00-60.00 range.
Picked on January 03 at $54.15 *triggered
Short Play Updates
Corning Inc. - GLW - cls: 22.43 change: +0.75 stop: 23.75
Hmm... Bears need to be on the alert here. GLW was bucking the trend today. The market didn't rebound until the last couple of hours. Yet shares of GLW were showing strength right from the open. Watch for the $23.00 level to offer some short-term resistance. We're not suggesting new positions at this time. Our target is the $21.25-21.00 range. We do not want to hold over the late January earnings report. FYI: The P&F chart is bearish with a $15.00 target. There was virtually zero short interest listed for GLW.
Picked on January 04 at $22.91 *triggered/gap down entry
IAC Interactive - IACI - cls: 24.32 chg: -0.26 stop: 26.55
Shorts should be feeling somewhat relieved with IACI. The stock failed to truly bounce higher with the market this afternoon. The stock closed with another 1% loss. That doesn't mean that IACI won't rebound. It is oversold and due for a correction higher. The stock has already hit our initial target in the $25.50-25.00 range. We are not suggesting new positions at this time. The Head & Shoulders 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
Zoll Medical - ZOLL - close: 25.85 chg: +0.33 stop: 27.01
There is nothing new to report on for ZOLL. The tug of war continues. If the market continues higher then we would expect ZOLL to rally toward resistance near $27.00. At this time we would hesitate to open new bearish positions. We suggest taking profits at $24.10 and then again at $22.25. FYI: The P&F chart is bearish with a $17 target. The most recent short interest is at 8% of the stock's small 20 million-share float. That does raise the risk of a short squeeze, especially if ZOLL trades over $27.00.
Picked on January 03 at $25.86
Closed Long Plays
Fresh Del Monte - FDP - cls: 32.82 change: -1.21 stop: 31.85
The pull back was sharper than expected. We suggested buying a dip into the $33.00-32.00 range. FDP plunged this morning and hit an intraday low of $31.77. That was enough to hit our stop loss at $31.85. We are suggesting readers buy this bounce so we're reposting FDP as a new play tonight.
Picked on January 09 at $33.00 *triggered
Invest.Tech.Group - ITG - cls: 46.01 chg: -3.20 stop: 45.90
Shares of ITG were crippled today after the company released their recent trading volumes. The stock had been trading at a new one-year high yesterday but shares gapped open lower at $47.10 and then plunged to $44.14 before bouncing back. Our stop loss was at $45.90. ITG reported that December volume was 3.4 billion shares versus November's 4.8 billion. That doesn't bode well for earnings now does it?
Picked on January 06 at $47.99
Closed Short Plays
Fist Community Bancorp - FCBP - cls: 36.20 chg: +0.48 stop: 40.05
Target exceeded! FCBP dipped to an intraday low of $34.84. We were suggesting an exit in the $35.50-35.00 range. We are altering our strategy here. We did have a second, more aggressive target at $32.00-30.00. We still think financials and FCBP are going lower but the market turned in a reversal day today. Therefore we'd rather exit now and look for a new entry point for shorts again on a failed rally in the $39.00-40.00 range. It's not too late if you did not exit this morning.
Picked on December 30 at $40.80
Medicis Pharma - MRX - close: 26.44 change: +0.19 stop: 26.81
We are giving up on MRX. Honestly, we're surprised the stock did not hit our stop loss today given the market's big bounce. Shares continue to have a bearish pattern of lower highs. However, given the market's rebound we suspect that MRX will challenge its 50-dma soon, maybe higher. We are electing to exit early before we get squeezed.
Picked on November 18 at $26.08