Option Investor
Play Updates

One Target Hit, Three New Stops

HAVING TROUBLE PRINTING?
Printer friendly version


BULLISH Play Updates

Greif Inc. - GEF - close: 34.45 change: +0.21 stop: 31.25

GEF managed to keep the rally going but shares traded off their highs. More patient traders may want to wait for the possibility of catching a dip in the $33.00-32.50 zone. The P&F chart is bullish with a $50.00 target. I see resistance closer to $40.00. Our target is $39.50.

Picked on December 16 at $34.24 
Change since picked:     + 0.21   			
Earnings Date          02/26/09 (unconfirmed)    
Average Daily Volume:       464 thousand    


Hasbro Inc. - HAS - close: 28.96 change: +0.09 stop: 26.75

HAS out performed the S&P 500 with a minor gain today. The short-term trend is up but if the market rolls over HAS will not be immune. If you're looking for another bullish entry point wait for another dip and bounce in the $28.00-27.50 zone. 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:     + 0.65 /originally listed at $27.84
Earnings Date          02/09/09 (unconfirmed)    
Average Daily Volume:       2.6 million     


Hansen Natural - HANS - close: 32.24 change: +1.83 stop: 28.45 *new*

It looks like we're seeing some short covering in HANS. The stock rallied 6% today following yesterday's breakout over resistance. I'm upping the stop loss to $28.45. We have two targets. Our first 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.

Picked on December 16 at $30.25 *triggered       
Change since picked:     + 1.99   			
Earnings Date          02/26/09 (unconfirmed)    
Average Daily Volume:       1.8 million     


Juniper Networks - JNPR - close: 17.32 change: -0.48 stop: 16.49

JNPR spent the day trading sideways in a 50-cent range. I would wait for a new move over $17.75 before initiating new positions although a sharp bounce from the $17.00 region might convince me to jump in as well. Our target is $19.85. FYI: The P&F chart is bullish with a $26 target.

Picked on December 13 at $17.46 
Change since picked:     - 0.14   			
Earnings Date          01/22/09 (unconfirmed)    
Average Daily Volume:      10.1 million     


Lam Research - LRCX - close: 22.90 change: +0.43 stop: 20.75 *new*

LRCX continues to out perform the market but I will note that some of the short-term technical indicators are beginning to falter. I am inching up our stop loss to $20.75. Our target is $24.90. More aggressive traders may want to aim higher. The P&F chart is bullish with a $33 target.

Picked on December 15 at $22.25 *triggered       
Change since picked:     + 0.65   			
Earnings Date          01/21/09 (unconfirmed)    
Average Daily Volume:       3.1 million     


N.Amer.Palladium - PAL - close: 1.75 change: -0.15 stop: 1.45 *new*

What happened to PAL? Commodity-related stocks should have been moving higher as the U.S. dollar continues to fall. PAL had broken out above the $2.00 level earlier in the day. Then suddenly around 2:30 p.m. the stock just plunged and fell from $2.00 to $1.51 in about 90 minutes. I don't see any news to account for the move. I am raising the stop loss to $1.45. This is a high-risk, speculative play. Our target is $3.00.

Picked on December 13 at $ 1.67 /gap open entry
Change since picked:     + 0.08 /originally listed at $1.54
Earnings Date          11/08/08 (confirmed)    
Average Daily Volume:       593 thousand    


RadioShack - RSH - close: 12.21 change: +0.40 stop: 10.69

Target achieved. Investors continue to buy RSH. The stock rallied another 3.3% out performing the S&P 500. The stock hit an intraday high of $12.48. Our first target was $12.45. The company did have some news today. RSH paid $43 million to pay off its partner in its Mexican joint venture leaving RSH the sole owner of Radio Shack de Mexico. Overall I don't see any changes from our previous comments. More conservative traders may want to tighten their stops further. We have two targets. Our second target is $13.75.

chart:
RSH

Picked on December 13 at $11.15 
Change since picked:     + 1.06   			
Earnings Date          02/12/09 (unconfirmed)    
Average Daily Volume:       4.3 million     


Raytheon - RTN - close: 50.49 change: -0.18 stop: 48.85

RTN's lack of follow through on yesterday's bounce is worrisome. More conservative traders may want to exit early here or tighten their stops. I suspect that RTN will retest the $49.50 region soon. We're not suggesting new positions at this time. 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:     + 0.01 /originally listed at $49.55
Earnings Date          01/29/09 (unconfirmed)    
Average Daily Volume:       4.4 million     


Shaw Group Inc. - SGR - close: 21.64 change: +1.90 stop: 17.75

SGR is off to a strong start. Shares actually gapped open lower providing a better entry point but traders quickly bought the dip. SGR surged to new relative highs and ended the day up 9.6%. The P&F chart is bullish with a $33 target. Our first target is $24.00. We're adding a secondary target at $27.00 but suggest readers take off most of their positions at $24.00.

Picked on December 16 at $19.54 /gap down entry
Change since picked:     + 2.10 /originally listed at $19.74
Earnings Date          01/07/09 (unconfirmed)    
Average Daily Volume:       3.6 million     


BEARISH Play Updates

*We currently do not have any bearish play updates*


CLOSED BULLISH PLAYS

Fluor Corp. - FLR - close: 50.98 change: -0.39 stop: 46.45 *new*

FLR made a run at the 100-dma but didn't quite make it past the early December highs. Shares hit $53.38 today. Our secondary target to exit and take profits was $53.85. I am concerned that FLR could be setting up for another sharp correction. Therefore readers should completely exit here and just keep FLR on your watch list for another opportunity down the road.

chart:
FLR

Picked on December 12 at $46.00 
Change since picked:     + 4.98   			
Earnings Date          02/26/09 (unconfirmed)    
Average Daily Volume:       6.1 million     


Premier Investor Play Update Archives