eBay Inc - EBAY - close: 86.09 chg: +0.69 stop: 81.50*new*
The bounce continues in shares of EBAY and shares are starting to look overbought but they are also nearing our target at $87.50. Readers can prepare to exit anywhere over the $87 level or even now with EBAY up almost five points from our entry. We plan to exit at $87.50 but in the mean time we're raising our stop loss to $81.50. Don't forget that EBAY splits 2-for-1 tomorrow and your option contracts will be altered because of it. Double check with your broker how the symbols may change. For those of you who don't want to do the math it also means that our target will become $43.75 not $87.50 post-split.
Picked on February 10 at $ 81.22
Loews Corp - LTR - close: 72.44 chg: -1.71 stop: 69.95
Here it is. We suggested yesterday that readers look for a pull back toward the $72.00 level and consider buying a bounce. LTR has pulled back just as expected now we just need to see a bounce.
Picked on February 15 at $ 74.15
Invitrogen - IVGN - close: 70.93 chg: -0.71 stop: 69.95
IVGN got close to our target on the gap up early last week but we've run out of time to wait for another rally. The company is expected to report earnings on February 17th after the market's close. Wall Street is looking for $0.77 a share. It may be a good thing that we're exiting now. Lehman Brothers started coverage on IVGN with an "over weight" and a $83 price target today and shares slid lower instead of responding positively.
Picked on January 27 at $ 70.05