Option Investor
Play Updates

In Play Updates and Reviews

HAVING TROUBLE PRINTING?
Printer friendly version

Call Updates

Alliance Resource - ARLP - cls: 79.75 chg: +1.73 stop: 74.49

ARLP is pulling back with the market's decline but then we expect ARLP to consolidate some. We were looking for the stock to find support near the $75.00 level but it looks like the $76 mark might hold. We're not suggesting new bullish positions until we see a bounce.


 

Picked on February 27 at $ 75.01
Change since picked: + 1.69
Earnings Date 01/27/05 (confirmed)
Average Daily Volume = 95 thousand

---

Hartford Financial - HIG - cls: 71.76 chg: -0.62 stop: 69.95

Traders need to be cautious here. The market decline is weighing on the IUX insurance index and shares of HIG are following suit. The stock has broken below its simple 21-dma and we would expect it to pull back toward support near the $70.00 level and its rising 40 and 50-dma's. We would not suggest new bullish positions until we see a significant bounce. We'll be watching for a bounce near $70.25.


 

Picked on February 06 at $ 71.17
Change since picked: + 0.59
Earnings Date 01/26/05 (confirmed)
Average Daily Volume = 1.2 million

---

Ingersoll-Rand - IR - cls: 84.60 chg: -1.55 stop: 82.49

When the Dow starts to produce triple-digit declines traders start to profit take in their recent winners. IR certainly qualifies as a winner given the previous two-week rally. We are watching for the stock to find support in the $83-84 range. We would not suggest new bullish positions until we see a significant bounce.


Picked on February 27 at $ 83.00
Change since picked: + 1.60
Earnings Date 02/01/05 (confirmed)
Average Daily Volume = 1.1 million

---

St Joe Co - JOE - close: 73.90 chg: -1.75 stop: 72.49

This afternoon JOE's management reaffirmed their full-year earnings outlook. We do not believe this was the cause for this morning's sudden decline but we do note that volume was a little above average. Our stop loss may be a little tight here at $72.49. More aggressive traders who believe in JOE's bullish trend may want to consider putting their stop under the 40-dma near $71.00 or even under round-number support at the $70.00 mark.


 

Picked on March 07 at $ 75.51
Change since picked: - 1.61
Earnings Date 05/04/05 (unconfirmed)
Average Daily Volume = 500 thousand

---

Nova Chemicals - NCX - close: 50.84 chg: -0.79 stop: 47.95

After two days of trying to push past the $52.20 level NCX finally succumbed to a little bit of profit taking. Fortunately, the stock has found minor support at the simple 10-dma. However, it would not surprise us to see NCX test the $50.00 level as support. Yesterday the company announced it would present at the upcoming Merrill conference on March 15th.


 

Picked on February 22 at $ 48.01
Change since picked: + 2.86
Earnings Date 01/26/05 (confirmed)
Average Daily Volume = 383 thousand

---

Parker-Hannifin - PH - close: 67.15 change: -1.27 stop: 63.99

It's time to turn cautious on PH as well. The stock gapped down this morning under the $68.00 level (possible support) and under the simple 50-dma (what should have been technical support). Normally that's bad news if you're bullish. We would not suggest new bullish positions at this time. Readers should double-check to see they are happy with their stop loss placement. Wait for a significant bounce before considering new positions.


 

Picked on March 03 at $ 68.11
Change since picked: - 0.96
Earnings Date 01/18/05 (confirmed)
Average Daily Volume = 1.0 million

---

PACCAR - PCAR - close: 76.23 chg: -0.91 stop: 71.9

PCAR has pulled back to its simple 10-dma but we suspect it could slip lower. Watch for a drop to the $75.00 level, which should be round-number, psychological support. Readers can use a bounce from $75.00 as a new bullish entry point.


 

Picked on February 28 at $ 75.25
Change since picked: + 0.98
Earnings Date 02/01/05 (confirmed)
Average Daily Volume = 1.0 million

---

Texas Industries - TXI - cls: 66.05 chg: -0.45 stop: 63.49

TXI has pulled back toward new support at the $66.00-65.00 level, which is normal since broken resistance tends to become support. We are not suggesting new bullish positions but readers could use a bounce from the $65.00 level as a new entry point.


 

Picked on January 09 at $ 60.18
Change since picked: + 5.87
Earnings Date 12/16/04 (confirmed)
Average Daily Volume = 238 thousand

Put Updates

Apollo Group - APOL - close: 75.91 chg: -0.53 stop: 78.01

We are surprised to see that our APOL put play is still open. A couple of days ago the stock looked poised to breakout and hit our stop loss. At this point we would not suggest new bearish positions unless the stock hit a new relative low and by that time shares would be near our target range.


 

Picked on January 23 at $ 77.61
Change since picked: - 1.70
Earnings Date 12/16/04 (confirmed)
Average Daily Volume = 2.4 million

Dropped Calls

Spectrasite Inc - SSI - close: 61.63 chg: -1.31 stop: 59.25

Heads up! SSI is pulling back with the market's decline but we're also running out of time before the company's earnings announcement next Monday. Instead of watching SSI pull back toward support at the $60.00 level and its rising 50-dma we're going to exit now to minimize our losses. We do not suggest holding over the earnings report but it might be worth speculating (a.k.a. gambling) on a straddle or strangle should there be a big investor reaction.


 

Picked on February 16 at $ 61.80
Change since picked: - 0.17
Earnings Date 03/14/05 (confirmed)
Average Daily Volume = 391 thousand

Play Update Archives