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Call Updates

Apache - APA - close: 70.31 change: -0.84 stop: 67.99

Neither crude oil nor stocks really moved much on Friday. The markets were left to drift sideways as many investors took the day off ahead of the upcoming Christmas holiday (don't forget the markets are closed on Monday). We did notice that the OIX oil index dipped to its simple 50-dma and bounced. Meanwhile shares of APA dipped to $68.89, near its 100-dma and bounced. This might be used as a bullish entry point to buy calls but we would be careful. The stock is also bouncing from its eight-week trendline of rising support (a.k.a. higher lows) but today's intraday low actually broke that support on an intraday basis. It might be more prudent to wait for a move over $72.00 before considering new bullish positions. We do not want to hold over APA's late January earnings report. Our current target for APA is the $76.00-77.00 range. The P&F chart for APA points to an $83 target.

Suggested Options:
We are not suggesting new bullish positions in APA at this time. More aggressive traders might want to consider it. If you do initiate call positions we like the February strikes.

Picked on December 08 at $ 70.98
Change since picked: - 0.67
Earnings Date 01/26/06 (unconfirmed)
Average Daily Volume = 3.6 million

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Cytec Ind. - CYT - close: 47.55 chg: +0.21 stop: 44.99

Our relatively new play in CYT is on the right track. The stock rebounded strongly from the bottom of its December trading range on Wednesday. On Thursday the stock broke out over resistance at the top of its trading range (near 46.60) and hit our trigger to go long calls at $47.01. The move on Thursday is also a bullish breakout over the five-month trend of lower highs (see chart). Technicals have turned bullish again and its P&F chart points to a $65.00 target. Our target is a modest move into the $49.85-50.00 range. Readers can choose to initiate new positions here or look for a dip back into the $46.60-47.10 range.

Suggested Options:
We are suggesting the February calls but we do not want to hold over the February earnings report.

BUY CALL FEB 40 CYT-BH open interest= 81 current ask $8.20
BUY CALL FEB 45 CYT-BI open interest= 89 current ask $3.80
BUY CALL FEB 50 CYT-BJ open interest=198 current ask $1.20

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Picked on December 22 at $ 47.01
Change since picked: + 0.54
Earnings Date 02/02/06 (unconfirmed)
Average Daily Volume = 333 thousand

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Femsa Fomento - FMX - close: 72.16 chg: +0.59 stop: 67.75

The Mexican markets were almost as flat as Wall Street's on Friday. That didn't stop FMX from posting another gain (+0.8%). This past week's breakout over resistance in the $70.00-70.50 range is very bullish. Currently the Point & Figure chart for FMX points to an $87 target. We are only looking for a move into the $74.75-75.00 range so it may not be wise to initiate new positions right here. Look for a dip back into the $70.50-71.00 region before considering new call positions.

Suggested Options:
We are not suggesting new positions at this time. If you're looking for a new entry point consider buying the February strikes.

Picked on December 19 at $ 70.65
Change since picked: + 1.51
Earnings Date 02/23/06 (unconfirmed)
Average Daily Volume = 308 thousand

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Gilead Sciences - GILD - close: 54.56 chg: -0.84 stop: 49.99

After three days up in a row and a strong gain for the week shares of GILD finally hit some profit taking ahead of the weekend. The stock dipped to $54.15 before some dedicated traders bought the dip and pushed GILD off its lows into the weekend. We call them dedicated because most investors took the day off or left early to merge with the Christmas holiday traffic. The $54 level was minor resistance last week so it makes sense to see the same level act as short-term support. Therefore this pullback on Friday looks like a new bullish entry point. If you missed the last couple of updates on GILD take note. The stock broke through resistance and its consolidation pattern on Wednesday after German drug company Roche announced that the U.S. had okayed Tamiflu as an approved treatment for children. Shares of GILD rallied because the company invented Tamiflu, sold it to Roche, and now gets paid royalties. The rallied continued on Thursday despite negative news stories from Vietnam reporting on human cases of avian flu where Tamiflu only made the virus more resistant. On a technical basis we remain very bullish on GILD. The daily chart has a new MACD buy signal and the P&F chart points to a $66 target. Our target is the $59.00-60.00 range. We do not want to hold over GILD's mid January earnings report. That doesn't give us much time (maybe three weeks) before we have to exit.

Suggested Options:
We are suggesting the February calls even though we plan to exit in January ahead of GILD's earnings report.

BUY CALL FEB 50 GDQ-BJ open interest=2030 current ask $6.10
BUY CALL FEB 55 GDQ-BK open interest=4185 current ask $2.85
BUY CALL FEB 60 GDQ-BL open interest=3439 current ask $1.15

Picked on December 22 at $ 54.51
Change since picked: + 0.05
Earnings Date 01/17/06 (unconfirmed)
Average Daily Volume = 4.3 million

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Kerr Mcgee - KMG - close: 92.17 chg: -0.29 stop: 88.99

KMG has spent the last couple of weeks consolidating its early December gains. For the most part oil stocks didn't move much on Friday but KMG did produce some intraday volatility. We've been waiting for a dip toward the $90.00 level, which as broken resistance should act as new support. That's what happened on Friday. KMG dipped to $90.20 and quickly rebounded. This looks like a new bullish entry point to buy calls on KMG. However, the oil sector's performance hasn't been that great ever since crude oil fell back below $60 a barrel. If you're not excited about buying calls on KMG right here then consider waiting for a move over $93.50, which should be a breakout from what appears to be a bull flag pattern on KMG's daily chart. We do not want to hold over KMG's January 25th (unconfirmed) earnings report. Our target is the $98.50-100.00 range. The P&F chart points to a $106 target.

Suggested Options:
We are suggesting February calls because we may need to hold them right up to KMG's earnings announcement.

BUY CALL FEB 90 KMG-BR open interest= 40 current ask $5.80
BUY CALL FEB 95 KMG-BS open interest=832 current ask $3.20
BUY CALL FEB100 KMG-BT open interest= 60 current ask $1.55

Picked on December 02 at $ 90.26
Change since picked: + 1.91
Earnings Date 01/25/06 (unconfirmed)
Average Daily Volume = 1.8 million

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Ryland Group - RYL - close: 73.02 change: -1.03 stop: 71.85

Homebuilders were weak on Friday. The sector turned lower shortly after the opening following a negative report on new home sales for November. Oddly the selling didn't see much follow through. RYL dipped to $72.75 and then traded sideways for the rest of the session. The DJUSHB home construction index produced a similar pattern. Investors may not be in a hurry to sell homebuilders since 2006, even with expected declines from 2005, is poised to be the second best year for home sales ever. Currently the DJUSHB index has technical support at its 200-dma near 926 and additional, historical support near 920. Traders will want to keep a close eye on RYL and its rising trendline of support. The stock is currently testing that trendline after what looks like a recent double-top pattern, which is bearish. Plus some of the short-term technical oscillators (like the RSI) have grown bearish as well. We would not consider new bullish positions until RYL traded over $74.70 or even the $75.00 mark.

Suggested Options:
We are not suggesting new plays at this time.

Picked on December 13 at $ 73.96
Change since picked: - 0.74
Earnings Date 01/24/06 (unconfirmed)
Average Daily Volume = 1.3 million

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Questar Corp - STR - close: 78.80 chg: -0.50 stop: 77.85 *new*

Aside from some minor volatility after Friday's opening bell shares of STR traded sideways in a 50-cent range for most of the session. The technical picture is mixed and the stock is trading between technical support at its 50-dma (near 77.80) and short-term resistance at $80.00. Natural gas has been suffering lately as warmer weather and brighter forecasts for January have reduced investor fears over a gas shortage. More conservative traders may just want to exit early right here. You can always consider new entries on a move over $80.00. We are not suggesting new positions at this time and would wait for a new breakout over $80.00. In the meantime we're going to inch our stop loss up to $77.85. FYI: STR is also a current strangle play on the newsletter's play list.

Suggested Options:
We are not suggesting new bullish positions at this time.

Picked on December 13 at $ 80.85
Change since picked: - 2.05
Earnings Date 01/26/06 (unconfirmed)
Average Daily Volume = 752 thousand

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Total S.A. - TOT - close: 127.84 change: -0.19 stop: 126.49

Shares of TOT are going nowhere fast. The stock has traded in a narrow $1.50 range for the last four sessions. We considered just exiting early and cutting our losses but the intraday rebound in the oil-related sector indices on Friday suggests we might see a stronger bounce come next week. We are not suggesting new bullish positions in TOT at this time. More aggressive traders might want to think about buying calls on a move over $128.50. We would wait for a move over $130.00-130.50. Currently our target is the $136.00-137.00 range. The P&F chart points to a $152 target.

Suggested Options:
We are not suggesting new bullish positions at this time.

Picked on December 13 at $130.25
Change since picked: - 2.42
Earnings Date 02/15/06 (unconfirmed)
Average Daily Volume = 936 thousand

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Tractor Supply - TSCO - cls: 54.00 chg: -0.11 stop: 52.65 *new*

TSCO has spent the last 2 1/2 weeks consolidating its early December rally. Volume has been pretty mild during this consolidation but the trend has been bearish with a pattern of lower highs. We considered just exiting early right here but the mirage of a possible Santa Claus rally next week is fueling some year-end bullish hopes. To protect ourselves we're raising the stop loss to $52.65. We are not suggesting new bullish positions at this time. Our target is the $57.00-58.00 range. The Point & Figure chart still points to an $87 target.

Suggested Options:
We are not suggesting new bullish positions at this time.

Picked on November 30 at $ 52.75
Change since picked: + 1.25
Earnings Date 01/18/06 (unconfirmed)
Average Daily Volume = 428 thousand

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Valero Energy - VLO - close: 52.83 chg: -0.55 stop: 50.90 *new*

Refining stocks like VLO could not escape the drag on the oil sector this past Friday. VLO lost one percent but traded off its worst levels of the session. The recent bounce from the 50-dma in the Tuesday-Wednesday time frame looks like a bullish entry point but VLO still has overhead resistance in the 55.50-55.60 region. Considering the lack of relative strength in the sector we're not suggesting new bullish positions at this time. We are going to raise our stop loss to $50.90 in an effort to reduce our risk. Our post-stock split target is $58.50. The P&F chart still points to a $70 target. FYI: VLO is also a current strangle play in the strangle section.

Suggested Options:
We are not suggesting new bullish positions at this time.

Picked on December 08 at $ 53.28 (split adjusted)
Change since picked: - 0.45
Earnings Date 01/30/06 (unconfirmed)
Average Daily Volume = 9.8 million

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United States Steel - X - close: 47.50 chg: +0.91 stop: 44.65

Some merger and acquisition news in the steel industry helped inspire a 1.95% rally in shares of X on Friday. The stock's gain is a bullish breakout over its three-week trendline of resistance and its 10-dma. Short-term technical indicators are bullish. The move on Friday also opened the play after hitting our trigger to buy calls at $47.05. Our late January target is the $52.00-52.50 range. The Point & Figure chart for X points to an $86 target. We do not want to hold over the January earnings report.

Suggested Options:
We are suggesting the February calls even though we plan to exit in January ahead of X's earnings report.

BUY CALL FEB 40 X-BH open interest= 90 current ask $8.50
BUY CALL FEB 45 X-BI open interest= 562 current ask $4.90
BUY CALL FEB 50 X-BJ open interest=1093 current ask $2.50

Picked on December 23 at $ 47.05
Change since picked: + 0.45
Earnings Date 01/24/06 (unconfirmed)
Average Daily Volume = 3.8 million
 

Put Updates

PACCAR Inc. - PCAR - close: 70.60 change: +0.35 stop: 72.51

We've been warning readers to look for a failed rally in the $71-72 region but the relative strength in shares of PCAR still makes us uncomfortable. The stock's recent sell signal on its daily chart is starting to look like its been reversed. Short-term technicals have certainly turned higher. We are not suggesting new bearish positions at this time. In fact we're going to tighten our stop loss to $72.05. Our target is the $65.25-65.00 range.

Suggested Options:
We are not suggesting new bearish positions at this time.

Picked on December 20 at $ 69.49
Change since picked: + 1.11
Earnings Date 01/24/06 (unconfirmed)
Average Daily Volume = 838 thousand

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Progressive Corp - PGR - cls: 119.27 chg: +0.52 stop: 121.25

The upward momentum for PGR has stalled and there is a clear zone of resistance in the $124.50-124.65 region. However, there has not been a real rush of selling either. Our biggest challenge to a successful bearish play in PGR may be end-of-quarter window dressing by fund managers. Currently we are on the sidelines. Our strategy involves a trigger to buy puts at $117.45, which is under current support near $118. If triggered we'll target a decline into the $110.50-110.00 range. We do not want to hold over the January earnings report.

Suggested Options:
We are suggesting the February puts so we can hold them right up to PGR's earnings report.

BUY PUT FEB 120 PGR-ND open interest=757 current ask $4.60
BUY PUT FEB 115 PGR-NC open interest=235 current ask $2.70

Picked on December xx at $ xx.xx <-- see Trigger
Change since picked: + 0.00
Earnings Date 01/19/06 (unconfirmed)
Average Daily Volume = 836 thousand
 

Strangle Updates

(What is a strangle? It's when a trader buys an out-of-the-money (OTM) call and an OTM put on the same stock. The strategy is neutral. You do not care what direction the stock moves as long as the move is big enough to make your investment profitable.)

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Amer. Eagle Out. - AEOS - cls: 22.02 chg: +0.32 stop: n/a

The recent action in AEOS does not bode well for our strangle. The stock has been showing relative strength and the action in Thursday and Friday's session produced a short-term bullish breakout over its two-week trend of lower highs. Longer-term AEOS still has a trendline of resistance (see chart) but we only have about four weeks left before January options expire. More conservative traders may have to decide to cut their losses here and move on. We hesitate to exit early because our bias for January is growing more bearish. We're not suggesting new plays. The current strangle has an estimated cost of $2.35 with the January $27.50 calls (AQU-AY) and the January $22.50 puts (AQU-MX). We are targeting a rise to $4.70. FYI: currently the January $22.50 puts are trading at $1.05bid/$1.15ask.

Suggested Options:
We are not suggesting new strangle plays in AEOS.

Picked on November 13 at $ 25.47
Change since picked: - 3.37
Earnings Date 11/15/05 (confirmed)
Average Daily Volume = 3.6 million

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Abercrombie&Fitch - ANF - close: 64.98 chg: +0.60 stop: n/a

ANF is showing some relative strength and finally cracked resistance at the $65.00 level if only on an intraday basis. The technical picture is improving and if the markets do see a Santa Claus rally next week then we certainly expect ANF to participate. The P&F chart for ANF points to an $87 target. Remember, we only have about four weeks left before January options expire. We are not suggesting new strangle positions at this time. The options in our strangle are the January $65 calls (ANF-AM) and the January $55 puts (ANF-MK). Our estimated cost was $5.15. We're looking for a rise to $8.50.

Suggested Options:
We are not suggesting new strangle plays in ANF.

Picked on November 13 at $ 59.67
Change since picked: + 5.31
Earnings Date 11/15/05 (confirmed)
Average Daily Volume = 2.7 million

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Blue Coat Sys. - BCSI - cls: 43.80 chg: +0.45 stop: n/a

The recent technical breakdown in shares of BCSI has struggled to produce any follow through lower. Shares of BCSI have been consolidating sideways along support at the rising 100-dma. Coincidentally this support also lined up with technical support at the bottom of its gap from November 22nd near $42.00. If BCSI were to trade back to the $45.00 level traders might want to consider launching new strangles with February options. At this time we are not suggesting new plays. FYI: currently the Point & Figure chart for BCSI is pretty bearish with a $27 target. Our current play involves the January $50 call and the January $40 put. Our estimated cost is $3.25. We're aiming for a rise to $5.50. Remember we have about four weeks left before January options expire.

Suggested Options:
We are not suggesting new strangle plays in BCSI.

Picked on December 04 at $ 45.43
Change since picked: - 1.63
Earnings Date 02/14/06 (unconfirmed)
Average Daily Volume = 416 thousand

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Building Materials - BMHC - cls: 80.84 chg: -1.45 stop: n/a

BMHC returned to our suggested entry window of $80.50-79.50 on Friday. Traders may want to consider launching new strangles as BMHC continues to coil more tightly inside its wedge-like pattern of lower highs and higher lows. Rest assured a breakout either direction is coming. The options we were suggesting are the March $90 calls (BGU-CR) and the March $70 puts (BGU-ON). Our estimated cost is $8.20. Our target is $12.50 by March expiration.

Suggested Options:
We are suggesting are the March $90 calls (BGU-CR) and the March $70 puts (BGU-ON). Our estimated cost is $8.20. Our target is $12.50 by March expiration.

Picked on December 18 at $ 80.95
Change since picked: - 0.11
Earnings Date 01/24/06 (unconfirmed)
Average Daily Volume = 527 thousand

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Chicago Merc. Exchg. - CME - cls: 379.75 chg: +3.54 stop: n/a

CME continues to give mixed signals. Technicals on the daily chart have turned bullish while some of the weekly indicators and the P&F chart are still bearish. We do see that if CME can trade over $380.00 it will produce a new triple-top breakout buy signal on the P&F chart. Friday's action had CME coiling for a bullish breakout over the $380 level. The stock might make another run at the $400 level sooner than expected. We only have four weeks left before January options expire. Our current play involves the January $400 calls (CMJ-AK) and the January $350 puts (CMJ-MA). Our estimated cost was $26.70. We're aiming for a rise to $40.00 in the strangle before January options expire.

Suggested Options:
We are not suggesting new strangle plays in CME.

Picked on November 20 at $375.90
Change since picked: + 3.85
Earnings Date 01/24/06 (unconfirmed)
Average Daily Volume = 879 thousand

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D.R.Horton - DHI - close: 36.21 chg: -0.64 stop: n/a

The forecast for DHI is starting to look a bit cloudy. On Friday the homebuilding stocks turned lower after a negative new home sales report for November. Investors may want to remember that November and December are two of the slowest months of the year for home sales and this may be why the sell-off in the sector was not more severe. Even so we remain very cautious here. Friday's decline, while it did stop at short-term support near $36.00, still looks like a breakdown below its eight-week trendline of rising support. Following the mid-December failed rally near $38.50 this could be a trend-changing move. If DHI closes under the $36.00 level then more conservative traders may want to think about exiting early and trying to salvage some of their trading capital. We only have four weeks left before January options expire. We are not suggesting new strangles in DHI at this time. Our current play involves the January $35 calls (DHI-AG) and the January $30 puts (DHI-MF). Our estimated cost was $3.15. We're aiming for a rise to $6.00. FYI: the DHI-AG calls are currently trading at $2.05bid/$2.15ask.

Suggested Options:
We are not suggesting new strangle plays in DHI.

Picked on November 13 at $ 32.56
Change since picked: + 3.65
Earnings Date 02/15/06 (unconfirmed)
Average Daily Volume = 3.2 million

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Four Seasons - FS - close: 49.92 chg: +0.54 stop: n/a

FS is still trying to rebound back above the $50.00 level. So far it isn't having much success but if the market's rally into New Year's then FS may be successful. If FS does close over the $50.00 level then more conservative traders may want to think about exiting early and cutting their losses. We only have four weeks left before January options expire and if FS oscillates sideways for any additional length of time it will negatively impact the option values in our strangle. We are not suggesting new strangles at this time. The options in our strangle were the January $60 calls (FS-AL) and the January $50 puts (FS-MJ). Our estimated cost was about $2.60. We're aiming for a rise to $5.00 or more. FYI: the FS-MJ puts are trading at $1.40bid/$1.60ask.

Suggested Options:
We are not suggesting new strangle plays in FS.

Picked on November 08 at $ 55.37
Change since picked: - 5.45
Earnings Date 11/10/05 (confirmed)
Average Daily Volume = 319 thousand

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Lear Corp - LEA - close: 28.53 chg: +0.62 stop: n/a

Our strangle play in LEA is not working out! The stock's downward momentum has stalled and shares have consolidated sideways for the last few weeks. While the stock is still stuck under technical resistance at the 50-dma the technical indicators on its daily chart are turning bullish again. We are not suggesting new positions and more conservative traders may want to exit early even though the options values have diminished significantly. We are no longer suggesting new strangle positions. The options in our strangle are the January $35 calls (LEA-AG) and the January $25 puts (LEA-ME). Our estimated cost was $1.60. We are lowering our target to $1.60. We have about four weeks left before January options expire.

Suggested Options:
We are not suggesting new strangle plays in LEA.

Picked on November 06 at $ 30.24
Change since picked: - 1.71
Earnings Date 01/25/06 (confirmed)
Average Daily Volume = 1.8 million

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Verifone Holdings - PAY - cls: 26.77 chg: +2.44 stop: n/a

Bulls can all send a Merry Christmas card to the Wall Street analyst who upgraded shares of PAY on Friday. The stock was upgraded to a "buy" with a $31 price target. Shares of PAY responded with a 10% gain on volume that was more than seven times the daily average. Friday's move is also a very bullish breakout over resistance at the $25.00 level. The January $22.50 calls (PAY-AX) high a high of $4.00 and are trading at $3.50bid/$5.50 ask. More conservative traders may want to exit as soon as possible before PAY sees any profit taking. We have less than four weeks before January options expire. We're not suggesting new positions. Our current strangle involves the January $22.50 calls (PAY-AX) and the January $17.50 puts (PAY-MW). Our estimated cost was $2.60 and we're aiming for a rise to $4.50 or more.

Suggested Options:
We are not suggesting new strangle plays in PAY.

Picked on October 12 at $ 19.98
Change since picked: + 6.79
Earnings Date 12/01/05 (confirmed)
Average Daily Volume = 259 thousand

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Questar Corp. - STR - close: 78.80 chg: -0.50 stop: n/a

STR has spent the last couple of days consolidating sideways between support near $78.00 and its simple 50-dma and resistance at the $80.00 level. Technical signals are mixed with the P&F chart pointing to a $105 target but the short-term trend looking bearish. We are no longer suggesting strangle positions in the stock. Our strangle involves the January $80 calls (STR-AP) and the January $70 puts (STR-MN). Our estimated cost was $5.10 and we're aiming for a rise to $9.50 or more. We only have four weeks left before January options expire. More conservative traders may need to be planning an early exit to try and salvage some trading capital, especially if STR breaks down under the 50-dma (since we doubt it will break support at the 200-dma near $70 before our options expire).

Suggested Options:
We are not suggesting new strangle plays in STR.

Picked on November 20 at $ 76.25
Change since picked: + 2.55
Earnings Date 01/26/05 (unconfirmed)
Average Daily Volume = 716 thousand

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Texas Ind. - TXI - close: 51.00 chg: +0.30 stop: n/a

Unfortunately we have nothing new to report on for TXI. The stock is still a lame duck with shares churning sideways between $45 and $53 over the last ten weeks. Hopefully the earnings report expected on January 5th will produce enough volatility for us to exit near breakeven or even score a potential gain. We are not suggesting new strangle positions. The options in our strangle are the January $55 calls (TXI-AK) and the January $45 puts (TXI-MI). Our estimated cost is $2.70. We're looking for a rise to $5.00 or more.

Suggested Options:
We are not suggesting new strangle plays in TXI.

Picked on November 27 at $ 49.57
Change since picked: + 1.43
Earnings Date 01/05/06 (confirmed)
Average Daily Volume = 354 thousand

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Valero Energy - VLO - close: 52.83 chg: -0.55 stop: n/a

Unfortunately, VLO is still consolidating sideways with no Friday follow through on the Wednesday-Thursday rebound from the 50-dma. We are starting to worry that if VLO fails to turn higher and breakout over resistance in the $55.50-56.00 range that it will be stuck in a range between $56 and $45 near its 200-dma. If this occurs then the options in our strangle will quickly deteriorate. We only have about four weeks left before January options expire. More conservative traders may want to think about exiting early to cut their losses. We are not suggesting new strangle plays. Our current play involves the January $110 calls (VLO-AB) and the January $90 puts (VLO-MR). Our adjusted cost is $2.93. Our adjusted target is $4.75.

Suggested Options:
We are not suggesting new strangle plays in VLO.

Picked on November 21 at $ 50.50
Change since picked: + 2.33
Earnings Date 01/30/06 (unconfirmed)
Average Daily Volume = 10.7 million
 

Dropped Calls

Garmin ltd - GRMN - close: 68.57 change: +0.27 stop: 61.99

We are choosing to exit early on GRMN. We still haven't found any news to explain Thursday's high-volume rally in the stock. The early morning dip on Friday was quickly bought and shares look poised to make a run toward the $70.00 level. While we are choosing to exit early it doesn't mean you have to. There is still a very good chance that GRMN will indeed trade into the $69.50-70.00 range (fyi: our target was the 69.00-70.00 range). We do suggest you significantly tighten your stop if you don't exit.

Picked on December 13 at $ 63.54
Change since picked: + 5.03
Earnings Date 01/25/06 (unconfirmed)
Average Daily Volume = 1.1 million

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Kinder Morgan - KMI - close: 93.09 chg: -0.04 stop: 91.90

KMI dipped low on Friday morning only to recover and close almost unchanged on the session. The morning low was below support at the bottom of its $92.00-95.00 trading range and under technical support at the 100-dma. The stock hit our stop loss at $91.90. Watch for a breakout over $95.00 as a new bullish entry point.

Picked on December 02 at $ 92.75
Change since picked: + 0.34
Earnings Date 01/18/06 (unconfirmed)
Average Daily Volume = 749 thousand
 

Dropped Puts

None
 

Dropped Strangles

None
 

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