Option Investor
Play Updates

In Play Updates and Reviews

Printer friendly version

Long Play Updates

Rockwell Collins - COL - close: 51.00 chg: -0.27 stop: 49.25*new*

COL held up better than most during Wednesday's sell-off. The stock only lost 0.5% and kept the majority of Tuesday's gains. We do expect a dip back toward $50.00, which could be used as a new entry point. We are raising our stop loss to $49.25 since tomorrow is our last day. We plan to exit on Thursday at the closing bell. COL is due to report earnings on the morning of Friday, July 11th. We do not want to hold over the announcement.

Picked on July 07 at $49.25 *triggered
Change since picked: + 1.75
Earnings Date 07/11/08 (confirmed)
Average Daily Volume: 1.6 million


DIAMONDS - DIA - close: 111.66 chg: -2.08 stop: 111.69

Yesterday we listed DIA as a new bullish play with a trigger to get long the ETF at $114.30. The intraday high today was only $114.20 so we're still sitting on the sidelines. Given the big reversal lower we're tempted to switch to a short position if DIA hits a new relative low around $111.00. If triggered at $114.30 our target is the $119.00 mark.

Picked on July xx at $xx.xx
Change since picked: + 0.00
Earnings Date 00/00/00
Average Daily Volume: 15.7 million


FLIR Sys. - FLIR - close: 42.88 change: +0.35 stop: 39.49

FLIR is still out performing the market but the rally in FLIR was fading this afternoon. 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: + 1.50
Earnings Date 07/24/08 (unconfirmed)
Average Daily Volume: 2.2 million


Garmin - GRMN - close: 42.67 chg: -1.43 stop: 41.49

Ouch! The bullish "breakout" in GRMN yesterday has been reversed and the stock is back inside its multi-week trading range. Look for a bounce in the $42.00-41.75 zone or a new relative high as a potential entry point to buy the stock. More conservative traders may want to wait for a new rise over $45.15 before initiating positions. Our target is the $49.50 mark.

Picked on July 08 at $44.10
Change since picked: - 1.43
Earnings Date 07/30/08 (confirmed)
Average Daily Volume: 3.0 million


Masimo Corp. - MASI - close: 35.77 chg: +1.37 stop: 32.95

MASI really out performed the market today. Shares rallied 3.9% and broke through resistance at the $35.00 level. Our suggested entry point to buy the stock was at $35.65 so the play is now open. We're a little skeptical of the rally since we can't find any news to account for the unexpected strength on such a down day in the markets. The P&F chart is already positive with a $56 target. As expected the move over $36.00 (today) produced a new P&F chart triple-top breakout buy signal. 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 July 09 at $35.65 *triggered
Change since picked: + 0.12
Earnings Date 07/28/08 (unconfirmed)
Average Daily Volume: 461 thousand


Terra Inds. - TRA - close: 46.74 chg: +1.30 stop: 40.99

The agribusiness and fertilizer/potash stocks got a boost today following some bullish comments out of a Goldman Sachs analyst regarding the extremely strong fundamentals for the group. Shares of TRA added 2.8% but failed to close over its 10-dma. If we see another dip back toward $45 or $44 we'd use it as another entry point. We have two targets. Our first target is $49.75. Our second target is $54.00. We do not want to hold over the late July earnings report.

Picked on July 08 at $45.44
Change since picked: + 1.30
Earnings Date 07/24/08 (confirmed)
Average Daily Volume: 4.6 million


Wyeth - WYE - close: 48.55 change: -0.93 stop: 46.39

WYE was a big winner yesterday and the stock managed to hit $49.80 this morning before succumbing to profit taking. Look for a dip back toward $48.00 as a new bullish entry point. 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: + 0.24
Earnings Date 07/23/08 (unconfirmed)
Average Daily Volume: 8.7 million


Olympic Steel - ZEUS - cls: 56.96 chg: +0.40 stop: 53.49

Warning! The trading in ZEUS today was bearish. The stock produced a failed rally near $60.00 and gave back almost all of its intraday gains. Wait for a new bounce near $55.00 before considering new bullish positions. More conservative traders, if you did open positions this morning, will want to consider an early exit now to cut your losses early. We're setting our target at $62.50.

Picked on July 08 at $56.56
Change since picked: + 0.40
Earnings Date 07/31/08 (unconfirmed)
Average Daily Volume: 319 thousand

Short Play Updates


Closed Long Plays

Trina Solar - TSL - close: 28.59 chg: -1.54 stop: 26.35

We are giving up on TSL. The stock has been trying to find a bottom the last few days but shares can't power through minor resistance at the 10-dma. Today's failed rally at the 10-dma also produced a bearish engulfing candlestick. We are suggesting an early exit here to cut our losses.

Picked on July 03 at $29.50 *gap open entry/exiting early
Change since picked: - 0.91
Earnings Date 08/21/08 (unconfirmed)
Average Daily Volume: 1.6 million


Textron - TXT - close: 47.14 change: -1.73 stop: 46.89

A news article out this morning suggested that the U.S. Army might terminate its $6.2 billion Bell-Textron helicopter development program due to rising costs. Shares of TXT reacted with a gap down to $48.00 and a plunge to $46.70. The stock hit our stop loss at $46.89 closing the play. If TXT trades under $46.50 it may be time to consider new bearish positions.

Picked on July 03 at $47.84 /stopped out 46.89
Change since picked: - 0.70
Earnings Date 07/17/08 (confirmed)
Average Daily Volume: 2.1 million

Closed Short Plays


Premier Investor Play Update Archives