Long Play Updates
Credicorp - BAP - close: 80.20 change: +0.35 stop: 78.45
BAP shot higher Monday morning with a quick rally to $81.93 and then slowly giving it all back. Our suggested trigger to buy the stock was at $80.51 so the play is now open. Look for a bounce at $80.00 or $79.50 as your next entry point. We do not have a lot of time. BAP is due to report earnings on May 7th and we do not want to hold over the report. Our short-term target is the $84.75-85.00 range. We do think that down the road BAP will trade much higher and we'll probably revisit it after we see the earnings reaction. The Point & Figure chart points to a $95 target.
Picked on April 28 at $80.51 *triggered
Buckle - BKE - close: 49.06 chg: -0.08 stop: 46.75
BKE, like most of the market, oscillated sideways on Monday. Traders bought the dip again this time at $47.84. If you are feeling cautious then wait for a new high over potential round-number resistance at $50.00. Our target is the $54.50-55.00 zone. The Point & Figure chart is bullish with a $65 target. We do not want to hold over the late May earnings report.
Picked on April 23 at $48.80
Citigroup - C - close: 26.81 change: +0.21 stop: 23.90
Citigroup out performed most of its peers in the banking sector with a 0.78% gain. However, the stock is starting to look a little toppy in the short-term charts. Don't be surprised to see a dip in the $26.00 region. We have two targets. Our first target is the $27.50-28.00 zone. Our second, more aggressive target is the $29.70-30.00 range.
Picked on April 21 at $24.50 *triggered
CPFL Energia - CPL - close: 70.71 change: -0.93 stop: 69.24
No deal! Most quote providers are going to list the intraday high for CPL as $72.84. This was a bad tick. They're also going to list it as the opening trade. Yet a quick glance at any intraday chart will show you that CPL did not trade over resistance at $72.00. I went through the entire day's data of time and sales and did not see any trades over $72.00. There were a couple at $71.99 but CPL did not break $72.00. We are suggesting a trigger to buy CPL at $72.15 so we're still on the sidelines. The stock's Point & Figure chart is very bullish with a $100 price target. Earnings are coming up in a couple of weeks and CPL might see a little pre-earnings rally. We don't want to hold over the announcement but that might be tricky since we can't find a solid earnings date yet. Our short-term target is the $78.00-80.00 range.
Picked on April xx at $xx.xx
Citi Trends - CTRN - close: 21.19 change: +0.25 stop: 18.95
We're still on the sidelines with CTRN. The stock dipped to $20.28 and bounced. The stock looks a little bit overdone so we're suggesting readers buy a dip in the $20.10-19.50 zone. If triggered we will have two targets. Our first target is the $22.40-22.50 range. Our second target is the $24.00-25.00 range. We do not want to hold over the late May earnings report (still unconfirmed date). The P&F chart is bullish with a $29.00 target.
Picked on April xx at $xx.xx <-- see TRIGGER
Gerdau S.A. - GGB - close: 37.79 chg: +0.66 stop: 35.45
Steel-related stocks were strong today. GGB rallied with the group adding 1.7%. We remain somewhat concerned over the bearish MACD indicator. More conservative traders may want to raise their stop loss toward $36.50ish. We're not suggesting new plays at this time. Our first target is the $39.75-40.00 zone. Our second, more aggressive target is the $42.00 mark. The P&F chart is bullish with a $57 target. We do not want to hold over the early May earnings report (unconfirmed).
Picked on April 10 at $36.84
iShares Telecom - IYZ - close: 25.03 chg: +0.14 stop: 23.49
IYZ almost hit our target today. The stock opened at $25.00 and spiked to $25.76 before giving back most of its gains. Our initial target has been the $25.85-26.00 zone. We're not suggesting new positions at this time. Our second target is the $27.85-28.00 zone. This is not a very fast moving equity and it could take weeks to hit our second target.
Picked on March 25 at $23.50 *triggered
Lamar Advertising - LAMR - cls: 39.50 chg: +1.49 stop: 36.74 *new*
Target achieved. LAMR out performed the markets on Monday with a 3.9% gain. Shares hit an intraday high of $40.04. Our first target was the $39.90-40.00 zone. We're not suggesting new positions at this time and readers should not be surprised to see a correction back toward $38.50. We are raising the stop loss to $36.74. Our second, more aggressive target is the $42.50-45.00 zone. We do not want to hold over the May 7th earnings report. FYI: The Point & Figure chart is bullish with a $48 target.
Picked on April 23 at $37.47 *1st target hit
Lowe's Cos. - LOW - close: 25.64 change: -0.38 stop: 24.24
LOW ran into a little bit of profit taking after Friday's pop higher. That's okay with us. We would prefer to buy a dip and shares hit $25.47 this morning. Our four-week target is the $27.90-28.00 range. We do not want to hold over the late May earnings report. The P&F chart is bullish with a $39 target but LOW is facing immediate resistance on its Point & Figure chart.
Picked on April 27 at $26.02
PowerShares India - PIN - close: 26.41 chg: -0.30 stop: 25.74
Stocks rarely move in a straight line and the PIN pulled back on Monday giving back most of Friday's gains. This could be used as an entry point but we suggest a little patience. Look for a pull back closer to $26.00 and use that as an entry point to initiate bullish positions. We're trying to keep our stop loss tight at $25.74, under the recent dip. Our target is the $27.85-28.00 zone.
Picked on April 24 at $26.39
S&P SPDR Homebuilders - XHB - cls: 23.17 chg: +0.26 stop: 21.45
Homebuilding stocks were generally higher on Monday. The DJUSHB index added 1.6%. The HGX also posted a gain. The XHB added 1.1% and closed above its exponential 200-dma. The MACD on the daily chart is nearing a new buy signal. We have two targets. Our first target is the $24.40-25.00 range. The $25.00 level will probably be resistance. Our second, much more aggressive target is the $27.00-27.50 range. The Point & Figure chart is very bullish with a $35.00 target.
Picked on April 24 at $22.67
Short Play Updates
Closed Long Plays
Teleflex Inc. - TFX - close: 52.94 chg: +0.83 stop: 50.90
Our time with TFX is up. It was our plan to exit at Monday's close to avoid tomorrow's earnings report. The market expects a profit of 81 cents a share.
Picked on April 16 at $51.05 *triggered
Closed Short Plays