Long Play Updates
Short Play Updates
Coca-Cola Enterp. - CCE - cls: 13.45 chg: -0.72 stop: 15.01 *new*
Target exceeded! CCE continued to sink and shares lost another 5% to breakdown under the $14.00 level on big volume. The intraday low was $13.23. CCE traded under its September 2001 low of $13.46 and hit levels not seen since September 1996. We are very concerned that the market could see a snap back rally at any time. Thus we're dropping our stop loss to $15.01. If you haven't done any profit taking we strongly suggest you cash in on 50% to 75% of your position. 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 /1st target exceeded 14.05
MarthaStewardLivingOmni - MSO - cls: 6.38 chg: -0.66 stop: 7.05*new*
Shares of MSO continue to plummet. The stock lost another 9.3% today. MSO is down almost 18% from our picked price. We strongly suggest readers consider a complete exit right here. However, since the trend is still strongly lower we are going to instead adjust our stop loss to $7.05. MSO hit our first target yesterday. We're currently aiming for our second target at $6.15.
Picked on October 05 at $ 7.78 /1st target hit
Starbucks - SBUX - close: 11.53 change: -0.75 stop: 12.85 *new*
Target exceeded. SBUX slipped to new multi-year lows and quickly sank past our first target at $12.05. The intraday low was $11.50. We are adjusting our stop loss to $12.85, just above today's high. SBUX is now testing a long-term trendline of lower lows and thus we should be expecting a bounce very soon. We're not suggesting new bearish positions. Our second, multi-week target is $10.25.
Picked on October 05 at $13.66 /1st target hit $12.05
Closed Long Plays
Closed Short Plays
AT&T Inc. - T - close: 24.73 change: -0.61 stop: 28.12
Shares of T continued to hit new multi-year lows. The stock sank to $23.95 intraday. Our target was $25.05. The play is closed for us but more aggressive traders might be tempted to let it run. Our biggest concern now would be a sudden, snap-back rally in the markets.
Picked on October 05 at $28.12 /target hit 25.05