Long Play Updates
Fresh Del Monte - FDP - cls: 34.72 change: +1.90 stop: 31.75
FDP is finally following our script. The stock rallied sharply and posted a 5.78% gain. The stock hit a new two-month high and is challenging potential resistance near $35.00. Our target is the $37.90-38.00 range.
Picked on January 09 at $32.82
Gilead Sciences - GILD - cls: 48.22 chg: -0.28 stop: 45.45
GILD provided another buy the dip entry point with the intraday low at $47.51. We don't see any changes from our previous comments. The stock continues to look poised to move higher although the BTK biotech index might be nearing some resistance with its trend of lower highs. Next week Genentech (DNA) could move the biotech sector with its earnings report due out on Monday night. Our GILD target is the $53.00-55.00 range. We would be tempted to aim higher but we do not want to hold over the end of January earnings report.
Picked on January 09 at $48.50
Move Inc. - MOVE - cls: 2.29 change: +0.10 stop: 2.14
Once again investors bought the dip near $2.15. Actually the low today was
$2.16. The bounce from its intraday lows was impressive (+6%). If you were going
to buy the dip/bounce this looks like a good spot, however, MOVE still has
resistance near $2.35.
Picked on January 07 at $ 2.32 *triggered
Parexel Intl. - PRXL - cls: 53.30 chg: +0.30 stop: 47.90
Heads up! The rally in PRXL is looking a little tired - at least short-term. We are expecting a pull back toward $50.00. We have adjusting our suggested entry point to $50.25-49.50. 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
Steel Dynamics - STLD - cls: 54.29 chg: +1.44 stop: 49.99
An upgrade for U.S. Steel (X) lifted the metals group. Shares of STLD added 2.7%. We do not see any changes from our previous comments and would still consider new positions here although a dip in the $53.50-53.00 zone would be more attractive. Our target is the $57.50-60.00 range.
Picked on January 09 at $52.85
XTO Energy - XTO - close: 55.41 chg: -0.33 stop: 51.79
Oil and energy stocks under performed on Thursday. However, XTO bounced from short-term support near $54.00. This looks like another bullish entry point. More conservative traders may want to tighten their stops. Our target is the $59.00-60.00 range.
Picked on January 03 at $54.15 *triggered
Short Play Updates
Corning Inc. - GLW - cls: 22.94 change: +0.51 stop: 23.75
GLW has turned positive on us with a 2.2% rally today. The stock is challenging short-term resistance near $23.00 and its 10-dma. 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: 24.02 chg: -0.30 stop: 26.26 *new*
IACI continues to under perform, which is great news for the bears. However, we want to warn you that the stock is short-term oversold and way overdue for a bounce. If you have not done any profit taking yet we suggest you take some money off the table. We are adjusting our stop loss to $26.26. 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: 25.78 chg: -0.12 stop: 27.01
ZOLL still isn't going anywhere. Resistance is holding at $26.00 but we're also seeing a very short-term bullish trend of higher lows. The larger pattern is bearish with the recent failed rally near $27.00. However, that developing pattern of higher lows suggests the stock could be coiling for a move higher. Now that the healthcare conference is over readers can look for a failed rally near $27 as an entry point or nimble traders could try and short it on a break below $25.00 but if you pick this latter entry point you may want to use a tighter stop. We have two targets. Our first target is $24.10. Our second target is $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
ArthroCare - ARTC - close: 49.34 change: -1.79 stop: 48.49
Our nearly perfect bullish entry point in ARTC yesterday turned into a dud. The stock spiked lower this morning after shares were downgraded before the opening bell. ARTC opened at $49.65 and plunged to $48.00 before bouncing this afternoon. The breakdown under $50.00 and its 200-dma is bearish. We would have been stopped out at $48.49. Keep an eye on ARTC for a bounce near $45.00 or a new rally through the $50-52 zone. FYI: If you check out the chart you can see how the top of its previous channel acted as support. Today may have been a one-day fluke, knee-jerk reaction.
Picked on January 09 at $50.50 *triggered
Juniper Networks - JNPR - cls: 30.67 chg: -0.15 stop: 29.39
It looks like our stop loss was just a little too tight. The stock dipped to $29.39 this morning before bouncing back. It just so happens that our suggested stop loss was $29.39. JNPR may have been a little extra weak intraday due to news that the company's COO has resigned and jumped ship to go to Microsoft. We are going to try again and have listed JNPR as a new play tonight to buy the afternoon bounce with a trigger over today's high.
Picked on January 09 at $30.82
Ryland Group - RYL - cls: 23.62 chg: +1.73 stop: 19.49
Target exceeded! RYL continues to bounce or more likely the shorts continued to cover. RYL hit an intraday high of $24.20 and closed with a 7.9% gain at $23.62. Our target was the $23.90-24.00 range. Volume was pretty strong on today's rally, which is good news for the bulls. Aggressive traders could aim for the top of its trading range in the $27-28 zone. The play is closed for us but we'll be watching for another potential entry point. Remember, we would not want to hold over the earnings report.
Picked on January 09 at $20.25 *triggered
Closed Short Plays