Long Play Updates
Avis Budget Group - CAR - close: 14.94 chg: -0.26 stop: 13.45
CAR skidded to a 1.7% loss but held up better than expected during a down day in the market. Our strategy is to buy a dip in the $13.85-13.75 zone. We'll use a stop at $13.45. If triggered our target is the $15.50-16.00 range or the 200-dma, which ever comes first. The Point & Figure chart is very bullish with a $22 target.
Picked on May xx at $xx.xx <-- see TRIGGER
Celanese Corp. - CE - close: 48.73 change: +1.16 stop: 45.95 *new*
CE displayed relative strength with an impressive 2.4% gain. Traders bought the dip this morning near CE's rising 10-dma. The stock is within striking distance of our target in the $49.90-50.00 range. More aggressive traders may want to aim higher. The P&F chart is forecasting a long-term target of $74. Note - we are raising our stop loss to $45.95.
Picked on May 11 at $46.35
iShares DJ US Oil & Gas - IEO - cls: 85.66 chg: +2.16 stop: 79.90*new*
Target exceeded. Another new record higher in crude oil powered the IEO to a new high. Shares hit $85.84 intraday. Our first target was the $85.00 mark. We hope readers have taken some money off the table here. We still suspect that crude could see some profit taking this week. Please note we're raising the stop loss to $79.90. Our secondary, more aggressive target is $87.50. This should be considered a high-risk play.
Picked on May 13 at $81.06 /1st target exceeded 85.00
iShares DJ Oil Serv. - IEZ - cls: 76.98 chg: +0.59 stop: 71.90
Oil services enjoyed another gain thanks to strong crude oil prices. The IEZ is still marching higher. The trend is bullish but we're still concerned about a possible sell-off in crude oil this week. Consider taking some money off the table right here. Our target is the $79.50-80.00 range. This should be considered a high-risk play.
Picked on May 13 at $73.74
Lululemon Athletica - LULU - cls: 34.33 chg: -1.27 stop: 33.49
LULU tumbled more than 3.5% lower today after one analyst said the stock was fully valued. Shares slipped to the $34.00 region with investors buying the dip twice near $33.70. We were suggesting that readers buy a dip in the $34.20-34.00 zone so the play is now open. More conservative traders might want to inch up their stop loss closer to today's low (33.69). Our target is the $39.00-40.00 zone. The P&F chart is very bullish with a major buy signal and a $50 target. FYI: The stock is heavily shorted and might see a short squeeze. The most recent data listed short interest at more than 56% of the small 13 million-share float.
Picked on May 20 at $34.20 *triggered
Agribusiness ETF - MOO - close: 62.99 chg: +0.49 stop: 60.45
Many of the agriculture stocks bounced today in spite of the market's weakness. This lifted the MOO to a 1.7% gain. This is short-term bullish and the rebound could be used as a new entry point. 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: 39.91 change: +0.41 stop: 38.99
OSK out performed the S&P 500 but the stock is still stuck in its sideways consolidation. We would not consider new bullish positions until OSK traded above $40.25 again. 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: 59.08 change: -0.86 stop: 54.95
The trend in PDA is still bullish but yesterday's session looks like a bearish reversal. We remain cautious here so we're not suggesting new positions at this time. More conservative traders might want to use a tighter stop loss. Our target is $64.00.
Picked on May 13 at $57.74
Sterlite Ind. - SLT - close: 22.30 chg: -0.13 stop: 20.95
Lack of any real profit taking in SLT is a good sign. Readers could use the dip to $22 as a new entry point. However, more conservative traders might want to use a tighter stop loss. Bear in mind that if the U.S. market continues lower we would expect a correction in SLT back to $21.50-21.00. Our target is the $25.75-26.00 zone. The Point & Figure chart is bullish with a $31 target.
Picked on May 19 at $22.25 *triggered
Short Play Updates
Closed Long Plays
Closed Short Plays