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Long Play Updates

Cepheid - CPHD - close: 31.91 change: +0.92 stop: 27.45

Hmmm... we may have missed the entry point in CPHD. The stock has been pretty strong and traders bought the dip at $29.13 today. Yesterday we raised our suggested entry zone to the $28.65-28.00 range. At this point more aggressive traders may want to buy a breakout over $32.00. We're going to adjust our entry range to $29.50-28.50 and raise our stop loss to $27.45. We're going to list two targets. Our first target is the $32.00 mark. Our second target is the $34.00-35.00 range.

Picked on January xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 02/21/08 (unconfirmed)
Average Daily Volume: 1.2 million

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Intel Corp. - INTC - cls: 19.98 change: +1.35 stop: 17.95 *new*

Target exceeded. INTC soared today after investors jumped in at the $18.24 low. Shares posted a 7.25% gain and did so on big volume. Our first target was the $19.95-20.00 range. We have a second, more aggressive target at $21.75-22.00. We do suggest taking some money off the table. A dip and bounce in the $19.00-19.50 region could be used as another entry point for bullish positions. We are readjusting our stop loss to $17.95. Our second target is the $21.75-22.00 zone.

Picked on January 22 at $18.20 *triggered
Change since picked: + 1.78
Earnings Date 01/15/08 (confirmed)
Average Daily Volume: 70 million
 

Short Play Updates

Avery Dennison - AVY - close: 46.45 change: +0.79 stop: 50.11

This is it. We've been warning you about it for days. The bounce in AVY has begun. Really nimble traders could buy this bounce and aim for the $49.50-50.00 region. AVY does appear to have some resistance near $48.00 but we would expect a rebound closer to $50.00. We're not suggesting new shorts at this time. The stock has already hit our early target in the $45.15-45.00 zone. Our second, more aggressive target is the $42.50 mark. The P&F chart is bearish with a triple-bottom breakdown sell signal and a $40 target. FYI: The most recent short interest was listed at 3.2% of the 97.3 million-share float.

Picked on January 13 at $48.50
Change since picked: - 2.05
Earnings Date 01/29/08 (confirmed)
Average Daily Volume: 1.0 million
 

Closed Long Plays

Cameron Intl. - CAM - cls: 42.07 chg: -1.53 stop: 39.90

Oil stocks got hammered again thanks to the one-two punch of the market weakness this morning and a big drop in oil futures. CAM broke down under support at $40.00 and hit an intraday low of $39.13. That was enough to trip our stop loss at $39.90. The big afternoon bounce is another tempting entry point but we're going to look elsewhere.

Picked on January 22 at $42.00 *triggered /stopped 39.90
Change since picked: + 0.07
Earnings Date 01/31/08 (confirmed)
Average Daily Volume: 3.3 million
 

Closed Short Plays

The Hershey Co. - HSY - cls: 36.39 chg: +0.52 stop: 38.05

Target achieved. HSY dipped to $35.10 this morning. Our target was the $35.15-35.00 zone. If HSY had not hit our target today we already had plans to exit at the closing bell to avoid the company's earnings report tomorrow.

Picked on January 13 at $37.46
Change since picked: - 1.07
Earnings Date 01/24/08 (confirmed)
Average Daily Volume: 1.7 million

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Pitney Bowes - PBI - cls: 34.29 chg: +0.23 stop: 36.01

We are suggesting that readers cover their shorts in PBI early. The stock hit an intraday low of $32.64. That was relatively close to our target in the $32.25-32.00 zone. While it's not a "win" for us we would rather exit now and look for a new positions for bearish positions when the rebound fails. Right now we would be watching the $36.00 region to be overhead resistance and a failed rally there may be a new entry for us.

Picked on January 13 at $35.94
Change since picked: - 1.65
Earnings Date 02/07/08 (confirmed)
Average Daily Volume: 1.8 million
 

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