Long Play Updates
DIAMONDS - DIA - close: 112.22 chg: +0.56 stop: 111.69
Aggressive traders may want to consider buying today's afternoon bounce with a stop loss under today's low (110.87) but we are sticking to our plan. Our suggested trigger to buy the DIA is at $114.30. If triggered at $114.30 our target is the $119.00 mark.
Picked on July xx at $xx.xx
FLIR Sys. - FLIR - close: 42.74 change: -0.14 stop: 39.49
FLIR continues to consolidate sideways. The stock has been able to maintain its gains in spite of the market's volatility, which is a sign of strength. 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
Garmin - GRMN - close: 43.67 chg: +1.00 stop: 41.49
Traders bought the dip near $42.00 and the bounce looks like a potential entry point. However, readers may want to consider raising their stop loss toward today's low (41.90). 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
Masimo Corp. - MASI - close: 37.24 chg: +1.47 stop: 32.95
MASI continues to rally. What we are seeing is probably a short squeeze. The most recent data listed short interest at more than 11% of the 43-million share float, which is more than two weeks worth of short interest. We're not suggesting new positions at this time. The P&F chart is already positive with a $56 target. 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
Terra Inds. - TRA - close: 47.25 chg: +0.51 stop: 40.99
TRA is still inching higher. We suggested using a dip toward $45 as an entry point and TRA hit $45.32 this morning. 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
Wyeth - WYE - close: 48.81 change: +0.26 stop: 46.39
WYE provided us another entry point today with the dip near $48.00. We don't see any changes from our prior comments. 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
Olympic Steel - ZEUS - cls: 59.83 chg: +2.87 stop: 53.49
ZEUS spent most of Thursday trading sideways until the late day rally took hold. Volume surged on the spike higher, which is normally bullish. The stock is challenging resistance near $60.00 again. We're setting our target at $62.50.
Picked on July 08 at $56.56
Short Play Updates
Closed Long Plays
Rockwell Collins - COL - close: 51.46 chg: +0.46 stop: 49.25
COL actually looks poised to rally higher from here but we have run out of time. The company is due to report earnings tomorrow morning. We don't want to hold over the announcement. It was our plan to exit today at the closing bell.
Picked on July 07 at $49.25 */exiting early 51.46
Closed Short Plays