Option Investor
Play Updates

In Play Updates and Reviews

HAVING TROUBLE PRINTING?
Printer friendly version

Long Play Updates

Rockwell Collins - COL - close: 48.16 chg: -0.48 stop: 47.45

Our new bullish play on COL has been triggered. The stock hit our suggested entry point at $49.25 this morning but the rally ran out of steam at $49.50. COL is still trading sideways but today's afternoon bounce failed and looks rather ominous. We would wait for another move over $49.25 or $49.50 before considering new positions. Over the weekend we suggested that more conservative traders may want to wait for a rise over $50.00 first. Our target is the $53.50 mark. This is going to be a very short-term play. COL is due to report earnings on the morning of Friday, July 11th. We do not want to hold over the announcement. We'll plan to exit on Thursday at the closing bell.

Picked on July 07 at $49.25 *triggered
Change since picked: - 1.09
Earnings Date 07/11/08 (confirmed)
Average Daily Volume: 1.6 million

---

FLIR Sys. - FLIR - close: 42.81 change: +0.51 stop: 39.49

FLIR rallied again and has been able to maintain its short-term up trend. We're not suggesting new positions at this time. Our target is the $44.95 mark. The P&F chart points to a $73 target. Please note that we're raising the stop loss to $39.49.

Picked on June 29 at $41.38
Change since picked: + 1.43
Earnings Date 07/24/08 (unconfirmed)
Average Daily Volume: 2.2 million

---

Masimo Corp. - MASI - close: 33.49 chg: -0.15 stop: 32.95

There is no change from our prior comments on MASI. We are still waiting for a breakout over resistance. The P&F chart is already positive with a $56 target. If MASI can trade over $36.00 it will produce a new P&F triple-top breakout buy signal. We are suggesting that readers use a trigger to buy MASI at $35.65, which would be above the May peak. More aggressive traders might want to jump the gun early on a move over $35.10. If triggered at $35.65 our target is the $39.95 mark. More aggressive traders could aim for the highs near $42.00 but we do not want to hold over the late July earnings report.

Picked on June xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 07/28/08 (unconfirmed)
Average Daily Volume: 461 thousand

---

Trina Solar - TSL - close: 30.56 chg: +1.57 stop: 26.35

TSL rallied sharply this morning with a gap open at $29.50 and a spike to $32.96 near its 10-dma. The stock slowly dipped back toward its lows for the day before bouncing again. We've adjusted our entry point to today's open. The failure at the 10-dma is short-term bearish. Readers may want to look for another dip and bounce in the $28.00 region before initiating new positions. We have two targets. Our first target is $32.50. Our second target is $34.90.

Picked on July 03 at $29.50 *gap open entry
Change since picked: + 1.57
Earnings Date 08/21/08 (unconfirmed)
Average Daily Volume: 1.6 million

---

Textron - TXT - close: 47.97 change: +0.13 stop: 46.89

TXT continues to act like it's trying to build a bottom but today's failed rally near its 10-dma is short-term bearish. Remember, we're gambling that TXT has found a bottom but if the broader market indices suddenly collapse we would expect TXT to follow them lower. Our target is the $53.70 mark.

Picked on July 03 at $47.84
Change since picked: + 0.13
Earnings Date 07/17/08 (confirmed)
Average Daily Volume: 2.1 million

---

Wyeth - WYE - close: 47.58 change: +0.59 stop: 46.39

Today's move in WYE is positive. The stock rallied 1.2% and it looks like a bullish breakout from the pennant formation. More aggressive traders may want to jump in now. The high today was only $48.15 so we're still on the sidelines. We're suggesting readers buy WYE at $48.31. If triggered our target is the $52.50 mark. We do not want to hold over the late July earnings report. FYI: The P&F chart has a $61 target.

Picked on July xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 07/23/08 (unconfirmed)
Average Daily Volume: 8.7 million
 

Short Play Updates

None
 

Closed Long Plays

Best Buy - BBY - close: 39.25 chg: -0.34 stop: 38.49

We are giving up on BBY. It's been three days and the stock has been unable to mount a convincing rebound. Today saw the stock's rally fail near its 10-dma. If you wanted to be optimistic you could argue that today's low is a "higher" low than last week but the afternoon rebound was failing. We're cutting our losses here and will watch for a new rise over $40.75.

Picked on July 01 at $39.94 *exiting early 39.25
Change since picked: - 0.56
Earnings Date 09/18/08 (unconfirmed)
Average Daily Volume: 6.6 million
 

Closed Short Plays

None
 

Premier Investor Play Update Archives