Option Investor
Play Updates

Updates On Latest Picks

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Long Play Updates

Intel Corp. - INTC - close: 14.51 change: -0.07 stop: 12.45

Tech stocks were hit the hardest today and yet INTC only slipped to $13.90 at its worst levels. We would still be buyers here. More conservative traders might want to use a much tighter stop loss (somewhere in the 13.90-13.45 range). Our target is $16.25.

Picked on October 22 at $14.30 *triggered 10/22/08
Change since picked: + 0.21
Earnings Date 10/14/08 (confirmed)
Average Daily Volume: 74 million

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Nucor - NUE - close: 33.88 change: -0.48 stop: 24.90

NUE didn't do so bad today. The stock only fell to $31.05 before bouncing back. Currently our plan is to buy the stock on a dip in the $27.50-26.00 zone. We might change our mind if it looks like NUE is going to breakout over resistance near $37.50ish. If triggered at 27.50 we have two targets. Our first target is $34.50. Our second target is $39.50.

Picked on October xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 01/22/09 (unconfirmed)
Average Daily Volume: 9.7 million

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Ultra(long)Russ.2000 - UWM - cls: 21.86 chg: -1.34 stop: 19.45

UWM performed almost perfectly for us. The stock dipped toward support near $20.00 (actually the low was 19.65) and started bouncing back. Volume on the day was very big. Our plan was to buy a dip in the $20.65-20.00 zone. Now that the play is open we have 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 23 at $20.65 *triggered
Change since picked: + 1.21
Earnings Date 00/00/00
Average Daily Volume: 3.3 million

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Wal-Mart - WMT - close: 52.76 change: +0.49 stop: 41.95

Investors bought the dip in WMT at the $50.00 mark. The stock could easily re-challenge resistance near $55.00 soon. We don't see any changes from our previous comments. 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

Wal-Mart - WMT - close: 52.76 change: +0.49 stop: 55.55

The bears were in control earlier today but bulls recovered by the day's end. WMT bounced from the $50.00 mark. Today could be a bullish reversal for the markets. More conservative traders will want to tighten their stops on WMT to breakeven or just exit early right here. We're not suggesting new positions at this time. Our target is $48.00.

Picked on October 19 at $53.77
Change since picked: - 1.01
Earnings Date 11/13/08 (confirmed)
Average Daily Volume: 25.5 million
 

Closed Long Plays

U.S. Nat.Gas - UNG - close: 28.20 chg: -1.48 stop: 28.89

It was not a good day for the natural gas ETF. Shares broke down from their sideways consolidation pattern and closed at new relative lows. The UNG traded at our stop loss of $28.89 closing the play.

Picked on October 19 at $30.68 /stopped out 28.89
Change since picked: - 2.48
Earnings Date 00/00/00
Average Daily Volume: 8.5 million
 

Closed Short Plays

Citigroup - C - close: 13.11 change: -0.21 stop: 15.55

Shares of Citigroup continue to under perform. The stock dipped to $12.50 and the meager bounce this afternoon left the stock with a 2.8% loss. The trend is saying stay in this bearish play but given the widespread afternoon bounce in the markets we're running for the exits. It's time to take some profits and get out.

Picked on October 19 at $14.88 /early exit 13.11
Change since picked: - 1.77
Earnings Date 10/16/08 (unconfirmed)
Average Daily Volume: 137 million

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Intrepid Potash - IPI - close: 17.31 change: +0.54 stop: 20.15

The trend is still down for the fertilizer-chemical stocks but after today's test of the lows for the NASDAQ and the Russell 2000 index we're suggesting an early exit. IPI hit our first target yesterday at $16.65.

Picked on October 21 at $18.12 /gap down entry/1st target hit
Change since picked: - 0.81 /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: 21.86 chg: -1.34 stop: 26.51

Target exceeded. Our plan was to exit this bearish play if the UWM hit $20.75. This Ultra-long Russell 2000 ETF hit $19.65 before reversing higher. The newsletter is now long the UWM with an entry point at $20.65 (see above in the play updates).

Picked on October 21 at $24.33 /gap down entry
Change since picked: - 2.47 /originally listed at 25.73
Earnings Date 00/00/00
Average Daily Volume: 3.7 million
 

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