Long Play Updates
Short Play Updates
Coca-Cola Enterp. - CCE - cls: 14.17 chg: -0.91 stop: 16.05 *new*
CCE almost hit our first target today. The stock quickly rolled over and ended the session down 6%. The intraday low was $14.08. Our first target is $14.05. Readers may want to claim victory and take some money off the table right here. We're adjusting our stop loss to $16.05. More conservative traders may want to use a tighter stop. We are concerned that the market could see a massive snap-back rally eventually. We do have a secondary target at $12.50. FYI: We do not want to hold over the late October earnings report.
Picked on October 05 at $15.91
MarthaStewardLivingOmni - MSO - cls: 7.04 chg: -0.63 stop: 7.85*new*
Target achieved. Shares of MSO tumbled to new two-month lows. The intraday low was $6.76. Our first target was $7.05. We're dropping our stop loss to $7.85, just above today's high. More aggressive traders may want to keep their stop above $8.00 instead. We're not suggesting new positions and strongly suggest readers take some money off the table if you have not done so already. Our second target is $6.15.
Picked on October 05 at $ 7.78 /1st target hit
Starbucks - SBUX - close: 12.28 change: -0.69 stop: 14.05 *new*
SBUX is quickly approaching our first target at $12.05. Shares have already lost 10% after being added to the newsletter. More conservative traders may want to take some money off the table here. We are adjusting our stop loss to $14.05. Thus far SBUX continues to trade with a pattern of lower lows. We're not suggesting new bearish positions at this time. Our second, multi-week target is $10.25.
Picked on October 05 at $13.66
AT&T Inc. - T - close: 25.74 change: -1.12 stop: 28.12 *new*
AT&T closed at its worst levels of the session and under what could have been short-term support near $26.00. We are adjusting our stop loss to $28.12 (breakeven). We're not suggesting new positions at this time. Our target is $25.05.
Picked on October 05 at $28.12
Closed Long Plays
US Bancorp - USB - close: 31.80 change: -3.00 stop: 32.99
Financials were just getting hammered again today. The BKX banking index lost more than 10%. Shares of USB slipped 8.6%. There is no confidence in the financial system, the recent bailout package, or the markets. USB hit our stop loss at $32.99 closing this play.
Picked on October 01 at $36.68 /stopped out 32.99
Closed Short Plays