Option Investor
Play Updates

Updates On Latest Picks

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Long Play Updates

Intel Corp. - INTC - close: 14.58 change: -0.67 stop: 12.45*new*

Our bullish play on INTC has been triggered. The intraday low this afternoon was $14.25. We were suggesting readers buy the dip in the $14.30-14.00 zone. Now that the play is open our target is $16.75, although after some further study we are adjusting that to $16.25 and adjusting our stop loss to $12.45. The October 9th, 2002 low was $12.95. FYI: More conservative traders might want to use a very tight stop close to $14.00 just in case the sector continues to crash.

Picked on October 22 at $14.30 *triggered 10/22/08
Change since picked: + 0.28
Earnings Date 10/14/08 (confirmed)
Average Daily Volume: 74 million

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U.S. Nat.Gas - UNG - close: 29.68 chg: -0.74 stop: 28.89

A huge sell-off in oil and energy stocks is starting to weigh on natural gas, which has been out performing its brethren. At the moment we would consider buying a dip or better yet buying a bounce near the $29.00 level. If UNG breaks under $28.75 it might be a good idea to switch to bearish strategies and aiming for the 26.00-25.00 zone. Currently our upside target is $34.00-34.50.

Picked on October 19 at $30.68
Change since picked: - 1.00
Earnings Date 00/00/00
Average Daily Volume: 8.5 million

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Ultra(long)Russ.2000 - UWM - cls: 23.20 chg: -2.52 stop: 19.45

The small cap sector continues to sink and the UWM lost 9.8% today. This is the double long of the Russell 2000 so when the RUT finally decides to bounce the UWM should scream higher. Right now the plan is to buy a dip into the $20.65-20.00 zone. If triggered we're setting two targets. Our first target is $26.00. Our second target is $33.00. The first target could be hit in a few days. The second target might take a few weeks.

Picked on October xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 00/00/00
Average Daily Volume: 3.3 million

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Wal-Mart - WMT - close: 52.27 change: -1.40 stop: 41.95

WMT is slowly sinking after its recent failed rally under resistance. It's possible that investors could see WMT as some sort of safe haven but shares were not immune to the panic selling we saw earlier in October. We are sticking to our two different entry points.

Entry point #1 is to buy a dip in the $44.50-44.00 zone. If triggered at $44.50 we will have two targets. Our first target is $49.50. Our second target is $54.00.

Entry points #2 is to buy a breakout at $56.25. If triggered at $56.25 our stop will be $52.35. Our first target will be $59.95. Our second target will be $63.00.

Picked on October xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 11/13/08 (unconfirmed)
Average Daily Volume: 25 million
 

Short Play Updates

Citigroup - C - close: 13.32 change: -0.86 stop: 15.55*new*

Citigroup continues to sink and lost another 6% on Wednesday. More conservative traders may want to take some money off the table with shares down more than 10% from our picked price. We are adjusting the stop loss to $15.55. Right now our target is $12.15. More aggressive traders could try to squeeze a little more out and aim for $11.50-11.00. FYI: The most recent data listed short interest at 2.4% of the float.

Picked on October 19 at $14.88
Change since picked: - 1.56
Earnings Date 10/16/08 (unconfirmed)
Average Daily Volume: 137 million

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Intrepid Potash - IPI - close: 16.77 change: -2.34 stop: 20.15*new*

Target exceeded. Our first target on IPI was $16.65. The stock plunged to new lows of $14.00 this afternoon. Unfortunately, our entry point wasn't as good as it could have been when IPI gapped open lower at $18.12. We're adjusting our stop loss to $20.15. Our secondary target is unchanged at $13.00. We're not suggesting new positions at this time. Readers need to be aware that some of IPI's rivals report earnings this week, like POT on Thursday, and the news could move shares of IPI.

Picked on October 21 at $18.12 /gap down entry
Change since picked: + 0.00 /originally listed at 19.11
Earnings Date 11/11/08 (confirmed)
Average Daily Volume: 2.3 million

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Ultra Russell2000 ProShares - UWM - cls: 23.20 chg: -2.53 stop: 26.51

The UWM gave up almost 10% today. Sadly we didn't get the best entry point when shares gapped open lower at $24.33. We remain bearish but we're adjusting the stop loss to $26.51. Our target to exit is $20.75. This is also our target to switch directions and buy the UWM is the $20.65-20.00 zone.

Picked on October 21 at $24.33 /gap down entry
Change since picked: - 2.53 /originally listed at 25.73
Earnings Date 00/00/00
Average Daily Volume: 3.7 million

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Wal-Mart - WMT - close: 52.27 change: -1.40 stop: 55.55

WMT out performed the broader market on Wednesday. The S&P 500 gave up 6% while WMT only lost 2.6%. The trend is still bearish. We don't see any changes from our previous comments. Our target is $48.00.

Picked on October 19 at $53.77
Change since picked: - 1.50
Earnings Date 11/13/08 (confirmed)
Average Daily Volume: 25.5 million
 

Closed Long Plays

None
 

Closed Short Plays

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