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Play Updates

Waiting for the next entry point

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BULLISH Play Updates

Best Buy Co. Inc. - BBY - close: 24.82 change: +1.07 stop: 20.75*new*

Investors bought the dip in BBY very early this morning and the stock closed up 4.5% by the closing bell. BBY is still struggling with round-number resistance at $25.00 but it did managed to close over its 50-dma, which is bullish. Unfortunately, we are still waiting for an entry point. Due to the relative strength we are adjusting our entry point to buy BBY from $22.00-20.00 to $22.50-21.00. We're raising our stop loss to $20.75. If triggered we're listing two targets. Our first target is $24.90. Our second target is $27.00. However, don't get too focused on the second target. BBY is due to report earnings on December 16th and we do not want to hold over the report!

Picked on December xx at $xx.xx <-- see TRIGGER  
Change since picked:     + 0.00   			
Earnings Date          12/16/08 (confirmed)    
Average Daily Volume:      10.3 million     


Emergent BioSolutions - EBS - close: 25.11 change: +1.34 stop: 19.45

In spite of the bearish tops EBS has produced in the last couple of weeks shares have been resistant to any serious profit taking. I still believe the stock will see a sharp correction. We are sticking to our plan. Our suggested entry point to buy the stock is the $20.50-20.00 zone.

If triggered we have two targets. Our first target is $22.50. Our second target is $24.50. FYI: The Point & Figure chart is bullish with a $35 target.

Picked on November xx at $xx.xx <-- see TRIGGER  
Change since picked:     + 0.00   			
Earnings Date          03/05/09 (unconfirmed)    
Average Daily Volume:       626 thousand    


Fluor Corp. - FLR - close: 52.14 change: +3.40 stop: 42.49

FLR, like its rival JEC, continues to soar higher on the Obama-infrastructure news. More aggressive traders might want to consider upping their entry point to buy the stock. We're going to stick to our plan. FLR can still fill the gap. We are suggesting readers buy a dip into the $46.00-44.00 zone with a stop loss at $42.49. If triggered we have two targets. Our first target is $49.95. Our second target is $53.85.

Picked on December xx at $xx.xx <-- see TRIGGER  
Change since picked:     + 0.00   			
Earnings Date          02/26/09 (unconfirmed)    
Average Daily Volume:       6.1 million     


Hasbro Inc. - HAS - close: 28.07 change: +0.00 stop: 26.25

Wednesday proved to be a quiet day for HAS. The stock consolidated sideways and closed unchanged on the session. We don't see any changes from our prior comments. I would expect a dip toward $27.50 or maybe $27.00. Wait for a bounce before jumping in. We have two targets. Our short-term target is $29.90. Our multi-week target is $32.25.

Picked on December 06 at $28.31 /gap higher entry
Change since picked:     - 0.24 /originally listed at $27.84
Earnings Date          02/09/09 (unconfirmed)    
Average Daily Volume:       2.6 million     


ProLogis - PLD - close: 7.42 change: +1.03 stop: 3.99

We may have missed the boat on PLD. Instead of buying the breakout on last Friday we wanted to buy a dip. Shares of PLD have exploded higher instead with a 40% gain on Monday and another 16% gain today. We are adjusting our suggested entry point to buy the stock to $5.00-4.50. Our new stop loss is $3.99. Our new targets will be $7.00 and $9.00 if triggered. FYI: The Point & Figure chart has turned bullish and the upside target has risen from $10 to almost $18. I have to label this an aggressive play because the stock can make some huge percentage moves throughout the day.

Picked on December xx at $xx.xx <-- see TRIGGER  
Change since picked:     + 0.00   			
Earnings Date          02/05/09 (unconfirmed)    
Average Daily Volume:      10.9 million     


RadioShack - RSH - close: 11.37 change: +0.44 stop: 9.49

RSH managed a 4% gain, which out performed the S&P 500. The move is encouraging but we're going to stick to the plan. We are suggesting readers buy a dip in the $10.25-10.00 zone with a stop loss at $9.49. More conservative traders may want to use a stop loss close to the $10.00 mark. If triggered we are listing two targets. Our first target is $11.25. Our second target is $12.75.

Picked on December xx at $xx.xx <-- see TRIGGER  
Change since picked:     + 0.00   			
Earnings Date          02/12/09 (unconfirmed)    
Average Daily Volume:       4.3 million     


Raytheon - RTN - close: 51.74 change: +0.43 stop: 46.65

RTN consolidated sideways in a $1.25 range but the general trend was up. We would still wait for a dip either near $50.00 or possibly $49.00 before initiating new positions. Our target is unchanged at $54.50. The P&F chart is bullish with a $61 target.

Picked on December 06 at $50.48 /gap higher entry
Change since picked:     + 1.26 /originally listed at $49.55
Earnings Date          01/29/09 (unconfirmed)    
Average Daily Volume:       4.4 million     


BEARISH Play Updates

*We currently do not have any bearish play updates*


CLOSED BULLISH PLAYS

Expedia Inc. - EXPE - close: 8.15 change: +0.02 stop: 7.59

Before the opening bell shares of EXPE were downgraded and the stock gapped open lower on the news. Shares opened at $7.83 and plunged to $7.49 before bouncing back to unchanged. Our stop loss was hit at $7.59 closing the play. EXPE had hit our first target at $8.45 a couple of days ago. More aggressive traders may want to reopen positions since odds are still good that EXPE will hit our secondary target at $9.75 before the year is over. We're going to wait since the broad-market indices are due for a dip.

chart:
EXPE

Picked on December 02 at $ 7.50 *triggered       
Change since picked:     + 0.65   			
Earnings Date          02/05/09 (unconfirmed)    
Average Daily Volume:       4.7 million     


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