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Long Play Updates

Rockwell Collins - COL - close: 51.27 chg: +3.11 stop: 47.45

Defense stocks soared on Tuesday and COL helped lead the way with a 6.4% gain. Volume was more than double the norm on today's rally, which is bullish. Short-term technicals have improved drastically but expect some profit taking after such a big pop. 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: + 2.02
Earnings Date 07/11/08 (confirmed)
Average Daily Volume: 1.6 million

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FLIR Sys. - FLIR - close: 42.53 change: -0.28 stop: 39.49

FLIR continues to consolidate sideways. The stock bounced from its 10-dma this afternoon. After the closing bell FLIR announced a $9 million order from the U.S. Air Force but we didn't see any after hours action. 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: + 1.15
Earnings Date 07/24/08 (unconfirmed)
Average Daily Volume: 2.2 million

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Masimo Corp. - MASI - close: 34.40 chg: +0.91 stop: 32.95

It was a strong day for MASI, which rose 2.7% and rebound from its rising 50-dma. The stock also produced a bullish engulfing candlestick pattern. It would be tempting to try and buy it here but we're going to stick to our plan. 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

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Trina Solar - TSL - close: 30.13 chg: -0.43 stop: 26.35

TSL bounced from its intraday lows. This move looks like a new bullish entry point to buy the stock. If you're feeling cautious then raise your stop loss closer to $27.50. Yesterday we suggested using a bounce near $28 as a new entry point and we got it! 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: + 1.14
Earnings Date 08/21/08 (unconfirmed)
Average Daily Volume: 1.6 million

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Textron - TXT - close: 48.87 change: +0.90 stop: 46.89

The MACD on TXT's daily chart looks like it's ready for a new buy signal. TXT does look like it has been building a bottom over the last two weeks. We would use today's rebound as a new entry point. More conservative traders could wait for a rally over $50.00 to open positions. If you're feeling conservative then raise your stop loss closer to $47.50. Our target is the $53.70 mark.

Picked on July 03 at $47.84
Change since picked: + 1.03
Earnings Date 07/17/08 (confirmed)
Average Daily Volume: 2.1 million

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Wyeth - WYE - close: 49.48 change: +1.90 stop: 46.39

Shares of WYE were actually downgraded this morning before the bell but that did not stop the rally. Shares surged almost 4% and broke out to new multi-month highs. We were suggesting a trigger to buy the stock at $48.31. The play is now open. 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 08 at $48.31 *triggered
Change since picked: + 1.17
Earnings Date 07/23/08 (unconfirmed)
Average Daily Volume: 8.7 million
 

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