Option Investor
Play Updates

In Play Updates and Reviews

HAVING TROUBLE PRINTING?
Printer friendly version

Long Play Updates

Broadcom - BRCM - close: 29.74 change: +0.80 stop: 27.49

BRCM produced a nice rise today but it didn't breakout over resistance at $30.00 yet. We're suggesting readers buy BRCM at $30.05. If triggered our short-term target is $34.75. This is going to be a short-term trade since BRCM is due to report earnings on July 22nd after the closing bell. We do not want to hold over the announcement so that gives us five trading days to be triggered and see the stock rally. The P&F chart is negative but a move over $30.00 would reverse that into a new triple-top breakout buy signal.

Picked on July xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 07/22/08 (confirmed)
Average Daily Volume: 13.8 million

---

FLIR Sys. - FLIR - close: 42.45 change: +0.50 stop: 40.85 *new*

We are a little disappointed in FLIR today. The market has a big bounce and FLIR under performs. The trend is still bullish and generally speaking FLIR is doing a lot better than the market. Volume was very low today. We're not suggesting new positions at this time. Please note that we're raising our stop loss to $40.85. Our target is the $44.95 mark. The P&F chart points to a $73 target. We do not want to hold over the July 24th earnings report.

Picked on June 29 at $41.38
Change since picked: + 1.07
Earnings Date 07/24/08 (confirmed)
Average Daily Volume: 2.2 million

---

Garmin - GRMN - close: 46.49 chg: +3.32 stop: 41.49

Some positive analyst comments helped boost GRMN and shares broke through the $45.00 level and its 50-dma. Volume was a little above average, which is bullish. Our target is the $49.50 mark. We do not want to hold over the July 30th earnings report.

Picked on July 08 at $44.10
Change since picked: + 2.39
Earnings Date 07/30/08 (confirmed)
Average Daily Volume: 3.0 million

---

Helmerich-Payne - HP - cls: 64.05 chg: -2.00 stop: 62.39

Weakness in crude oil is weighing on the energy sector. Shares of HP lost 3% and closed under its 50-dma. We are suggesting that more conservative traders use today's move as a signal to exit. We would wait for a new rally over $65.00 before considering new bullish positions. We have two targets. Our first target is $69.90. Our second target is $74.00. We do not want to hold over the late July earnings report.

Picked on July 10 at $66.40
Change since picked: - 2.35
Earnings Date 07/31/08 (unconfirmed)
Average Daily Volume: 1.6 million

---

Masimo Corp. - MASI - close: 36.10 chg: +1.18 stop: 34.45

MASI delivered a nice bounce (+3.1%) but pared its gains. We're bullish with the stock above $35.00 but the intraday pull back this afternoon leaves us feeling cautious. MASI might dip to $35.00 again. More conservative traders may want to tighten their stops. The P&F chart is 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
Change since picked: + 0.45
Earnings Date 07/28/08 (unconfirmed)
Average Daily Volume: 461 thousand

---

Terra Inds. - TRA - close: 46.44 chg: -1.25 stop: 44.45

A lot of the commodity-related stocks did not perform very well. Everyone's attention was on tech and financials. Shares of TRA dipped to $45.00 and bounced. We warned readers to expect this pullback. More conservative traders may want to raise their stop loss closer to $44.90 (today's low). 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: + 1.00
Earnings Date 07/24/08 (confirmed)
Average Daily Volume: 4.6 million

---

Wyeth - WYE - close: 48.29 change: -0.27 stop: 47.19 *new*

WYE had some news today. The U.S. courts approved a settlement deal between WYE and rival Impax Labs over a patent lawsuit. The news didn't do much for the stock price. The technical pattern is decaying and WYE's relative weakness today may be a warning. We are raising the stop loss to $47.19. We're not suggesting new positions at this time. This week WYE may have some news as the company presents at a conference on July 17th. 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: - 0.02
Earnings Date 07/23/08 (unconfirmed)
Average Daily Volume: 8.7 million
 

Short Play Updates

ICICI Bank - IBN - close: 26.51 chg: +2.09 stop: 30.15

The U.S. financial sector rallied sharply today and the foreign bank stocks followed. Shares of IBN surged 8.5% but they remain in their down trend. We're not suggesting new positions at this time. More conservative traders may want to lower their stop. Our target is the $21.50 mark. Our original play description suggested an alternative strategy of buying an out-of-the-money call as a little bit of insurance just in case the financial sector explodes higher on some unexpected news. We had suggested the August $30 call, which was $1.20 as of last Friday night. FYI: It is up to you when you sell the call if IBN rallies. You could sell it when the value covers our loss on the stock or let it run and potentially make a profit if IBN breaks out over $30.00.

Picked on July 13 at $26.61
Change since picked: - 0.10
Earnings Date 07/20/08 (unconfirmed)
Average Daily Volume: 3.6 million

---

UBS Ag - UBS - close: 19.83 change: +1.87 stop: 20.75

UBS is another overseas bank that is rising on the rebound in the U.S. financial sector. UBS added 10% and is back to challenging round-number resistance at the $20.00 region. We're not suggesting new shorts at this time. Our original play description suggested that readers might want to buy a little insurance with an out-of-the-money call on UBS. It's not guaranteed to work but if the financial sector unexpectedly rebounds higher it could help protect us from serious losses. We had listed the July $22.50 call or the August $22.50 call with our suggestion to use the August $22.50 call. Our estimated cost was $0.80 ($80 per contract). You may have pay more or less for it depending on when you opened the trade.

Picked on July 13 at $19.49
Change since picked: + 0.34
Earnings Date 08/12/08 (unconfirmed)
Average Daily Volume: 7.3 million
 

Closed Long Plays

None
 

Closed Short Plays

None
 

Premier Investor Play Update Archives