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Long Play Updates

Cepheid - CPHD - close: 32.23 change: +0.32 stop: 27.45

Shares of CPHD spiked to a new high today. The close over $32.00 is definitely bullish. More aggressive traders may want to jump in here. We are still willing to wait for a pull back. Our suggested entry range to buy the dip is $29.50-28.50. 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: 20.69 change: +0.71 stop: 17.95

The move in INTC today is good news for the bulls. The stock has burst into its window or gap area. There shouldn't be a lot of resistance between $20.00 and our second target at $21.75-22.00. The one place I would look for resistance is the 10-dma, which happens to be just above today's high. Given the big bounce it might be time for INTC to retrench a bit before moving higher. The stock has already hit our early target in the $19.95-20.00 zone.

Picked on January 22 at $18.20 *triggered
Change since picked: + 2.49
Earnings Date 01/15/08 (confirmed)
Average Daily Volume: 70 million

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Merrill Lynch - MER - cls: 57.45 change: -0.60 stop: 53.75

Today was not a very inspiring session from MER. Shares under performed the broader market. However, a pull back toward broken resistance near $56.00 could be used as a new bullish entry point. Actually a dip into the $56.50-56.00 would look great. MER should have short-term support at $56.00, 54.00 and 52.00. We're suggesting a stop loss at $53.75. Our target is the $64.50-65.00 range. Watch out for potential resistance at the 100-dma near $62.50.

Picked on January 23 at $58.05
Change since picked: - 0.60
Earnings Date 04/17/08 (unconfirmed)
Average Daily Volume: 22.2 million
 

Short Play Updates

Avery Dennison - AVY - close: 45.92 change: -0.53 stop: 50.11

The trading in AVY today was encouraging. The stock failed to bounce with the markets and lost 1.1% instead. Lack of follow through on yesterday's bullish reversal is great news for the bears but it does not mean the bounce is over just yet. We are not suggesting new short positions at this time and would still expect the bounce to continue. 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. In the news today AVY declared a quarterly cash dividend of 41 cents per share payable on March 19th, 2008 to shareholders of record on March 5th. 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: - 2.58
Earnings Date 01/29/08 (confirmed)
Average Daily Volume: 1.0 million
 

Closed Long Plays

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Closed Short Plays

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