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Play Updates

Stocks Slide but Not Enough

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BULLISH Play Updates

Emergent BioSolutions - EBS - close: 23.45 change: -1.66 stop: 19.45

EBS delivered yet another bearish topping pattern. This time the stock produced a bearish engulfing candlestick pattern and a 6.6% drop. I do see potential support near $22.00 but we're expecting a dip towards $20.00. 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: 50.69 change: -1.45 stop: 42.49

FLR performed a lot better than rival JEC. Shares of JEC plunged more than 10%. FLR only lost 2.7% today. We are still waiting for an entry point. 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: 27.37 change: -0.70 stop: 26.25

I have been expecting a dip toward $27.50-27.00 and we got that pull back today. The stock did close on its lows, which is bearish for tomorrow. Wait for a bounce before considering new positions and then tighten your stop. 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:     - 0.94 /originally listed at $27.84
Earnings Date          02/09/09 (unconfirmed)    
Average Daily Volume:       2.6 million     


ProLogis - PLD - close: 5.60 change: -1.82 stop: 3.99

The high-flying REITs hit some turbulence today. Shares of PLD crashed to a 24.5% decline on above average volume. I still expect the stock to dip toward $5.00. Our suggested entry point to buy the stock is the $5.00-4.50 zone. Our new targets are $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: 10.90 change: -0.47 stop: 9.49

RSH dropped 4% on Thursday but we're still waiting for a dip toward round-number support at $10.00. 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: 50.23 change: -1.51 stop: 46.65

RTN slipped back toward round-number support at $50.00. If the market continues lower I would look for RTN to trade toward $49 or $48. We are raising our stop loss to $47.49, which is a good 70 cents under the 50-dma. Wait for the bounce before considering new bullish 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:     - 0.25 /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

Best Buy Co. Inc. - BBY - close: 24.10 change: -0.72 stop: 20.75

We are pulling BBY from the play list. The company reports earnings on the morning of December 16th and we're running out of time. Shares have still not hit our suggested entry point to get long the stock. We'll remove it from the play list and see what happens after the earnings report. Our recently adjusted suggested entry point was a dip to $22.50.

chart:
BBY

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     


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