Fluor Corp. - FLR - close: 48.08 change: -0.11 stop: 43.75
FLR held up reasonably well only suffering a 0.2% loss versus a 1.2% drop in the S&P 500. It looks like FLR might retest the $45.00 region and if it does we would use it as a new entry point to get long the stock. More conservative traders may want to use a stop loss closer to $45.00 instead. We have two targets. Our first target is $49.95. Our second target is $53.85.
Hasbro Inc. - HAS - close: 27.31 change: +0.27 stop: 26.25
HAS actually bucked the trend in the market today and posted a gain but the stock remains under its 50-dma. As we said over the weekend, look for a move over $27.50 as a new bullish entry point. More conservative traders might try inching up their stop loss toward $26.50. We have two targets. Our short-term target is $29.90. Our multi-week target is $32.25.
Hansen Natural - HANS - close: 28.82 change: -0.45 stop: 27.49
HANS rallied midday and actually broke out over resistance at $30.00 and its simple 200-dma but the rally stalled at $30.15. Our suggested entry point to buy HANS is at $30.25 so we're still sitting on the sidelines. More aggressive traders might want to try buying a dip or bounce near $28.00. If triggered at $30.25 our target is $34.90. We are going to list a secondary target at $37.50 but strongly suggest readers take most of their money off the table at $34.90. The Point & Figure chart looks very bullish (see below) with a $45 target.
Juniper Networks - JNPR - close: 16.96 change: -0.50 stop: 16.49
JNPR pulled back today but did not retest its Friday lows. Shares were rebounding late in the session and I see it as a new entry point to buy the stock. More conservative traders may want to wait for a move over $17.50 before initiating positions. Our target is $19.85. FYI: The P&F chart is bullish with a $26 target.
Lam Research - LRCX - close: 21.43 change: -1.59 stop: 20.49
Friday saw shares of LRCX rally 10%. Today the semiconductor stock lost almost 7%. We were expecting a pull back and LRCX exceeded our entry zone to buy the stock in the $22.25-21.75 range. If you're feeling cautious, and in this market you should, then consider waiting for a new rally over $22.00 or $22.25 before initiating positions. Our target is $24.90. More aggressive traders may want to aim higher. The P&F chart is bullish with a $33 target.
N.Amer.Palladium - PAL - close: 1.77 change: +0.23 stop: 1.25
Another day of weakness for the U.S. dollar lifted the commodity stocks. Shares of PAL gapped open higher at $1.67 and soared to $1.87 intraday. The stock closed the session with a 14.9% gain and a new relative high. We don't see any changes from our weekend comments. This is a high-risk, speculative play. Our target is $3.00.
RadioShack - RSH - close: 10.92 change: -0.23 stop: 10.40
RSH came close to erasing Friday's gain but the stock did bounce from its rising 10-dma.
Correction: The weekend comments said "We're not suggesting readers buy..." when we meant to say "We are now suggesting...". Today's pull back is an even better entry point.
We have two targets. Our first target is $12.45. Our second target is $13.75.
Raytheon - RTN - close: 49.94 change: -0.86 stop: 48.45
Defense stocks struggled some on Monday as analysts voiced opinions that defense contractors will see business slowdown under an Obama administration. Shares of RTN dipped toward Friday's lows but managed a late day rebound to pare its losses. More conservative traders may want to raise their stop loss toward today's low near $49.40. Our target is unchanged at $54.50. The P&F chart is bullish with a $61 target.
*We currently do not have any bearish play updates*
Advent Software - ADVS - close: 22.48 change: -1.84 stop: 22.45
It was an ugly day for ADVS. The stock gapped open higher at $24.46 but only made it another 20 cents higher before reversing sharply lower. The stock traded down to $22.13 hitting our stop loss at $22.45 along the way. ADVS closed near its lows and produced a bearish engulfing candlestick to overshadow and reverse Friday's bullish engulfing candlestick. This is just another example of how volatile this market can be. Our estimated loss is 8%.