Eaton Corp - ETN - close: 59.10 chg: +0.59 stop: 56.99
No change from previous update on 04/18/05.
Picked on April 18 at $ 58.51
Ishares Dow Jones Energy - IYE - cls: 72.29 chg: +1.51 stop: 68.84
A big bounce for May crude oil prices helped the IYE ishares added more than two percent today. There is no other change from our previous update on 04/18/05.
Picked on April 18 at $ 70.78
Patterson Cos. - PDCO - close: 50.37 chg: -0.14 stop: 49.45
On Monday we mentioned being a little concerned with the big volume on PDCO's decline. Now we're a little more concerned with PDCO's lack of participation in the market's bounce today. The stock is still in a very bullish up trend. Plus, PDCO is still trading above round-number support at the $50.00 mark and technical support at the 50-dma but we would be cautious. Look for signs of a bounce back over 51.00 or 51.50 before initiating new long positions.
Picked on April 18 at $ 50.75
Red Robin Burger - RRGBE - cls: 52.02 chg: -0.09 stop: 49.49
No change from previous update on 04/17/05.
Picked on March 10 at $ 48.00
Expeditors Intl Was. - EXPD - cls: 49.12 chg: +0.49 stop: 52.51
No surprises here. We were expecting an oversold bounce and that is what EXPD is producing. No change from previous update on 04/17/05.
Picked on April 14 at $ 49.31
Ishares Russ 2000 Val - IWN - cls: 178.80 chg: +2.69 stop: 183.51
Ouch! The IWN is bouncing a bit faster than we expected. More conservative traders may want to seriously consider exiting here to avoid any further losses now that the IWN has closed back above its simple 200-dma. We still expect to see some overhead resistance in the 180-182 region. Traders can always exit here and jump back in later on a new failed rally.
Picked on April 14 at $178.04
Starbucks - SBUX - close: 46.22 chg: -0.78 stop: 51.75
Good news! SBUX continues to show relative weakness on a day that most stocks managed to bounce higher. No change from previous update on 04/17/05. Our target is the $45.00-44.00 range.
Picked on April 10 at $ 48.62