Long Play Updates
Coldwater Creek - CWTR - cls: 7.92 change: +0.15 stop: 7.19
Retail stocks were big performers in the market today. The RLX index added 4.3%. Shares of CWTR spiked to $8.13 this morning before setting with a 2% gain. Our suggested trigger to buy CWTR was $8.05. The play is now open. We are listing two targets. Our first target is $9.00. Our second target is $9.95. The Point & Figure chart has turned bullish with a bullish triangle breakout buy signal and a $13.00 target.
Picked on September 08 at $ 8.05 *triggered
Sigma-Aldrich - SIAL - cls: 53.71 change: -0.09 stop: 52.15
Warning! The action in SIAL today does not look healthy. The early morning rally paled in comparison to the rest of the market and SIAL ended the day poised to move lower. We are not suggesting new positions at this time and more conservative traders may want to jump out now. At this point I'm expecting a dip back toward $52.50. Our target is $58.00.
Picked on September 06 at $53.80
Teradyne - TER - close: 9.21 change: +0.03 stop: 8.75
The bounce in tech stocks was pretty anemic. The SOX semiconductor index actually closed in the red. TER was barely positive. The intraday bounce from $9.00 is encouraging but today's session increases concern for us. More conservative traders might want to raise their stop loss toward the $9.00 mark. We're listing two targets. Our first target is $10.00. Our second target is $10.60.
Picked on September 06 at $ 9.18
Short Play Updates
Expedia - EXPE - close: 17.84 change: +0.20 stop: 18.35
EXPE spent the session trading sideways but the late day bounce pushed shares into the green. The stock is now above its 10-dma. Wait for a new dip under $17.50 before initiating new bearish positions. We have two targets. Our first target is $15.10. Our second target is $13.50. Be sure to take some money off the table at our first target since the $15.00 level might be round-number support. The Point & Figure chart is bearish and forecasts a $9.00 target. FYI: The latest data listed short interest at 5% of the 205 million-share float. That is just under three days worth of short interest.
Picked on September 03 at $17.25 *triggered
Genuine Parts - GPC - cls: 42.45 chg: +0.85 stop: 44.01
The market's morning bounce lifted GPC above the $42.00 level and shares were able to maintain their gains all day. Look for a failed rally under $43.00 as a potential entry point for bearish positions. Our target is the $38.50 mark. More aggressive traders may want to aim lower. The P&F chart is bearish with a $28 target. We don't see any significant levels of short interest.
Picked on August 31 at $42.42
Hologic Inc. - HOLX - close: 19.38 chg: -0.43 stop: 21.05
The bounce in HOLX failed near $20.00 resistance. Today's move looks like another bearish entry point. We have two targets. Our first target is $18.15 near the August low. Expect a bounce when HOLX nears $18.00. Our second target is the $16.55 mark.
Picked on September 04 at $19.60 *triggered
Merck - MRK - close: 35.48 change: +1.18 stop: 36.05
MRK out performed the markets with a 3% rally. Furthermore shares broke through a cloud of moving averages including its 50-dma. This move is short-term bullish. MRK has potential resistance near $36.00 and then again in the $36.60-36.70 zone. We're not suggesting new positions at this time. Wait for the bounce to fail before considering new shorts. Our target is the $32.00 level. More aggressive traders may want to aim for $30.00. The P&F chart is bearish and points to a $23 target. We don't see any significant amounts of short interest.
Picked on August 31 at $35.67
Closed Long Plays
Alcoa - AA - close: 27.54 change: -0.76 stop: 27.19
AA popped higher at the open like most of the market but shares quickly reversed. A rising U.S. dollar put pressure on all the commodity stocks. Shares of AA dipped to an intraday low of $27.12, which was enough to hit our stop loss. Volume has been very strong the last five days in a row, which is bearish.
Picked on September 06 at $28.30 *stopped 27.19
SunTrust Banks - STI - close: 50.93 change: +5.51 stop: 42.49
We would like to call this one a win but the gap open this morning ruined our entry point. As expected, STI, a banking stock, rallied higher on Monday. Unfortunately, the stock gapped open at $48.37 and then rallied to $51.57 before paring its gains. Shares ended the day up 12%. Volume was strong and the close over $50.00 is bullish. Our target was $49.95. We're dropping it as a bullish candidate.
Picked on September 06 at $45.42 /target hit, gap open entry
Titanium Metals - TIE - close: 12.19 change: -0.75 stop: 11.99
Ouch! Just about anything related to commodities got hammered today. A big surge in the U.S. dollar was the main culprit. Shares of TIE spiked to $13.53 this morning and then sank to $11.88 before bouncing. Our stop loss was hit at $11.99. The intraday decline was more than 12%. Today's move also marks a failed rally at its 10-dma.
Picked on September 06 at $13.02 /stopped out 11.99
Closed Short Plays