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Long Play Updates

Buckle Inc. - BKE - close: 50.43 change: -0.31 stop: 47.69

BKE is still showing relative strength. The stock posted a minor loss and traders bought the dip at $49.41 this morning. If the market trades down again tomorrow then look for a dip in BKE near $49.00 or its 10-dma as a potential entry point for bullish positions. Our target is the $57.50-60.00 zone. FYI: The Point & Figure chart is bullish with a $66 target. BKE has a high amount of short interest about 21% of the 15.5 million-share float. If BKE keeps inching higher it could see a short covering rally.

Picked on July 22 at $51.69
Change since picked: - 1.26
Earnings Date 08/21/08 (unconfirmed)
Average Daily Volume: 456 thousand

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Pacer Intl. - PACR - close: 23.61 change: -0.66 stop: 22.95

The DJIA dropped almost 300 points on Thursday so it's not surprising to see some profit taking in PACR. Look for broken resistance near $23.00 to act as short-term support. We're not suggesting new positions at this time. Our target is the $25.85 mark. We do not want to hold over the early August earnings report. FYI: PACR also has a high amount of short interest around 19% of the float. We could be seeing a shorts squeeze.

Picked on July 16 at $22.71
Change since picked: + 0.90
Earnings Date 08/05/08 (confirmed)
Average Daily Volume: 531 thousand

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Pediatrix Medical - PDX - cls: 51.42 change: +0.09 stop: 48.99

PDX out performed the market with a gain but it's worth noting that the rally reversed near PDX's 50-dma. A dip back to the $51-50 region may be on the schedule for tomorrow. Wait for signs of a bounce before considering new bullish positions. We have two targets. Take some money off the table at $54.75. Then we'll exit completely at $57.00.

Picked on July 22 at $51.14
Change since picked: + 0.23
Earnings Date 08/07/08 (unconfirmed)
Average Daily Volume: 636 thousand

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Sanofi-Aventis - SNY - cls: 36.29 change: +0.28 stop: 34.95

SNY also out performed the market and its peers with a minor gain. It is encouraging to see a bullish trend of higher lows but we would hesitate to open new long positions in this environment. Our short-term target is $39.50. We don't have a lot of time. Our plan is to exit ahead of the July 31st earnings report.

Picked on July 22 at $36.55 *triggered
Change since picked: - 0.26
Earnings Date 07/31/08 (unconfirmed)
Average Daily Volume: 1.7 million
 

Short Play Updates

Genoptix - GXDX - close: 29.18 change: +0.01 stop: 30.75

The relative strength in GXDX today is a bit worrisome. We are going to tighten our stop loss to $30.10. Wait for a new decline under $28.75 or $28.50 before considering new shorts. This remains an aggressive, higher-risk play. Biotechs tend to be more aggressive plays in general. Investors are always at risk for a negative or positive headline about the latest clinical trial or FDA decision that could send the stock gapping open. We have two targets. Our first target is $25.50. Our second target is $22.75.

FYI: It has come to my attention that borrowing shares of GXDX to short may be a challenge!

Picked on July 20 at $28.06
Change since picked: + 1.12
Earnings Date 07/31/08 (confirmed)
Average Daily Volume: 146 thousand
 

Closed Long Plays

None
 

Closed Short Plays

None
 

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