Long Play Updates
Celanese Corp. - CE - close: 47.17 change: +0.03 stop: 44.45
Traders bought the dip in CE near its rising 10-dma. While the intraday bounce looks like a potential entry point a dip near $46.00 would be a more attractive entry. Meanwhile for the second time in two days CE announced it was raising prices on some of its products. Our target is the $49.90-50.00 zone.
Picked on May 11 at $46.35
IAC/Interactive Corp. - IACI - cls: 23.71 chg: -0.02 stop: 21.49
If you see the glass as being half full then the good news today is that IACI did not see any profit taking after a week's worth of gains. The stock continues to look short-term overbought. We're altering our strategy. We're moving the target down from $24.50 to $24.00 and if IACI doesn't hit $24.00 tomorrow we're going to exit at Friday's closing bell anyway. We'd rather lock in a gain now and look for a new entry down the road than see IACI give back all of its gains.
Picked on May 12 at $21.90 *triggered
iShares DJ US Oil & Gas - IEO - cls: 80.55 chg: +0.58 stop: 77.99
There was some volatility in oil around option expiration and some "loophole" that the U.S. government supposedly closed in energy speculation today. Overall oil and the sector bounced back this afternoon. Today's move in IEO looks like a new entry point. We had suggested readers buy a bounce from $79.00 and that's what IEO delivered today. Our short-term target is $85.00. Our secondary, more aggressive target is $87.50. This should be considered a high-risk play.
Picked on May 13 at $81.06
iShares DJ Oil Serv. - IEZ - cls: 74.11 chg: +1.62 stop: 69.90
Traders didn't hesitate to buy the dip in IEZ near its rising 10-dma. We suggested buying a bounce from $72.00 and that's what IEZ gave us. We'd still consider new positions now. Our target is the $79.50-80.00 range. This should be considered a high-risk play.
Picked on May 13 at $73.74
Agribusiness ETF - MOO - close: 61.90 chg: +0.15 stop: 59.49
The fertilizer and ag stocks look poised to rally so MOO should be poised to move soon. We would still buy it right here. We have two targets. Our first target is the $65.50 level near its old highs. Our second target is the $68.00-70.00 range.
Picked on May 08 at $61.79
Oshkosh Corp. - OSK - close: 39.67 change: +0.21 stop: 38.75
Remain patient on OSK. We didn't really get a bounce near $39.00 nor did the stock rally past $40.00. Wait for one or the other as an entry point. More conservative traders might want to wait for a move past the 100-dma near $40.61. Our eight-week target is the $44.50-45.00 range. We would expect some resistance near $42.00. The Point & Figure chart is bullish with a $57 target.
Picked on May 13 at $39.90
Perdigao - PDA - close: 59.55 change: +2.36 stop: 54.35
PDA displayed relative strength. The stock bounced from the $58.00 level and closed with a 4.1% gain. Our only complaint would be the lack of volume on this move, which is a warning sign. Our target is the $64.50-65.00 range. The P&F chart is bullish with a $69 target.
Picked on May 13 at $57.74
Terra Ind. - TRA - close: 46.15 change: +2.46 stop: 41.99 *new*
The fertilizer stocks look poised to rally again and TRA is leading the way. Shares are up 5.6% today. The stock could hit our secondary target at $47.00 tomorrow. We're raising our stop loss to $41.99.
Picked on May 04 at $40.03 /1st target hit 44.00
Short Play Updates
Closed Long Plays
Citi Trends - CTRN - close: 20.85 change: -0.39 stop: 19.75
There were some nervous investors in CTRN today. The stock dipped to $19.75 and bounced. Our stop loss was $19.75 so the play is closed. It will be interesting to see if the retailers can rally past their earnings reports. CTRN is due to report next week.
Picked on May 08 at $20.05 * stopped out 19.75
SanDisk - SNDK - close: 33.10 change: +1.68 stop: 28.24
That's good enough for us. We were aiming for the $34.00 level but SNDK has soared this past week a lot faster than we expected. The stock was up 5.3% just today after being upgraded this morning. The exponential 200-dma near $33.60 is likely resistance. We're suggesting readers exit immediately and lock in a profit. You could choose to just let it run but raise your stop loss and monitor it closely. We'll definitely keep an eye on SNDK for another opportunity.
Picked on May 11 at $29.18
SolarFun Power - SOLF - close: 18.47 change: +1.06 stop: 14.85
SOLF continues to shine. The stock added another 6.2% today. The stock is up more than 24% from our picked price. We did have a second, more aggressive target at $19.00 and SOLF hit $18.79 intraday. That's good enough for now. We're suggesting readers exit immediately and lock in a gain. We'll definitely keep an eye on SOLF for another opportunity down the road. More aggressive traders could let it run and just raise your stop loss significantly. the $20.00 level would be round-number resistance.
Picked on May 11 at $14.85 /1st target exceeded
Closed Short Plays