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Call Updates

AstraZeneca - AZN - close: 63.12 change: +0.12 stop: 59.95

AZN continues to resist any serious profit taking attempts. The stock traded sideways on Wednesday in a 50-cent range. Volume came in pretty low. We don't see any changes from our previous updates and we're still suggesting that traders consider waiting for a dip toward $62 or $60 as a new bullish entry point. Our target is the $68.00-69.00 range but our time frame is mid-October.

Picked on August 20 at $ 62.99
Change since picked: + 0.13
Earnings Date 10/26/06 (unconfirmed)
Average Daily Volume = 1.1 million

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Bucyrus - BUCY - close: 48.66 chg: -2.24 stop: 47.69

Bulls may be in serious trouble with BUCY. We told readers to expect a dip towards $51 or $50 and BUCY delivered but we weren't expecting today's 4.4% decline and breakdown under the $50.00 mark. The stock's recent bullish breakout over resistance is now in trouble and the buy signal created by the breakout from its inverse (bullish) H&S pattern is also looking vulnerable. More conservative traders may want to exit now to cut their losses. We're going to stick it out for now since BUCY might still bounce from its six-week trendline of higher lows.

Picked on August 16 at $ 51.87
Change since picked: - 3.21
Earnings Date 10/19/06 (unconfirmed)
Average Daily Volume = 697 thousand

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Cameco - CCJ - close: 40.30 change: -0.03 stop: 37.95

CCJ was strong off the start this morning but the rally faded and shares fell back toward the $40 level. We do not see any changes from our new play description from Tuesday. The chart has various bullish signals. Monday's rally past the $40 level was a bullish breakout over its trendline of resistance. The recent bounce was a bounce from longer-term support on the weekly chart. The P&F chart is bullish and points to a $55 target. We are suggesting call options with CCJ above the $40 mark. Our time frame is four to six weeks and our target is the $44.50-45.00 range.

Picked on August 22 at $ 40.33
Change since picked: - 0.03
Earnings Date 07/28/06 (confirmed)
Average Daily Volume = 1.9 million

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Carpenter Tech - CRS - close: 94.15 chg: -2.19 stop: 94.99

The bullish bottoming pattern in CRS is fading. Today's existing home sales numbers revived worries about a slowing economy. That led shares of CRS to drop back toward its 200-dma. Readers might want to switch directions and buy puts if CRS breaks down under the $90.00 level. If CRS closes under $94 or its 200-dma soon we'll drop it as a bullish candidate. Currently we're suggesting a trigger to buy calls at $100.26.

Picked on August xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 10/25/06 (unconfirmed)
Average Daily Volume = 921 thousand

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Cymer Inc. - CYMI - close: 38.97 chg: -0.76 stop: 39.95

Semis are still seeing a pull back after last week's big rally. Shares of CYMI dropped under the $40 level and the pull back is turning the technical picture bearish. Traders might want to switch directions and buy puts if CYMI trades under the $38.00 level, which was support in early August. Right now we're suggesting a trigger at $42.55 to buy calls.

Picked on August xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 10/24/06 (unconfirmed)
Average Daily Volume = 1.0 million

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Freeport McMoran - FCX - close: 56.67 chg: -0.23 stop: 52.95

Our new call play in FCX is now open. The stock spiked over short-term resistance at the $57.50 level and hit our trigger to open plays at $57.51. Unfortunately, FCX failed to hold any of its gains and shares were drifting back toward the $56 level by the closing bell. We remain bullish but we're cautious with the failed rally today. More aggressive traders might want to try and catch a bounce from the $55.00-54.00 region. More conservative traders may want to wait for a new relative high over $58.00. Our target is the $62.50-63.00 range. Traders should also note that we do expect some short-term resistance near $60.00 and a retest of the 100-dma, once broken as resistance, should act as support.

Picked on August 23 at $ 57.51
Change since picked: - 0.84
Earnings Date 10/17/06 (unconfirmed)
Average Daily Volume = 5.1 million

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Goldman Sachs - GS - close: 152.70 chg: -1.45 stop: 149.40

GS is still consolidating sideways. Unfortunately after the late July gains this consolidation has the technical indicators fading toward bearish signals. Keep an eye on the XBD index, which might bounce from its simple 200-dma. Readers might want to wait for a new move over $155 before considering new call plays in GS. Our conservative target is $160.00. Our secondary target is the $164.50 level. Consider selling half your position at $160 and the rest at $164.50. We do not want to hold over the late September earnings report. FYI: The P&F chart points to a $190 target.

Picked on August 16 at $154.99
Change since picked: - 2.29
Earnings Date 09/21/06 (unconfirmed)
Average Daily Volume = 5.3 million

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MicroStrategy - MSTR - close: 90.85 chg: -1.01 stop: 85.99

Shares of MSTR dipped to short-term support near $90.00 and its 10-dma before traders finally bought the dip. Today's move shouldn't be a surprise. We told readers to look for a pull back toward $90. A bounce from here could be used as a new entry point to buy calls but more conservative types may want to wait for a breakout over its 100-dma first (currently near $94). More conservative traders may also want to tighten their stops. Our target is the $98.75-99.00 range.

Picked on August 16 at $ 92.05
Change since picked: - 1.20
Earnings Date 10/27/06 (unconfirmed)
Average Daily Volume = 431 thousand

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Piper Jaffray - PJC - close: 55.15 change: +0.49 stop: 49.99

There is still no change in PJC. The stock is bouncing around the $54-56 trading range. Traders can try and time an entry point on a dip toward $54.00 or just wait for a breakout over $56.00. Our short-term target is the $59.90-60.00 range.

Picked on August 20 at $ 55.70
Change since picked: - 0.55
Earnings Date 10/18/06 (unconfirmed)
Average Daily Volume = 300 thousand

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Children's Place - PLCE - cls: 56.09 chg: -1.45 stop: 56.95

This is the third down day in a row for PLCE. Shares lost 2.5% and closed under potential technical support at its 10 and 50-dma(s). If PLCE doesn't produce a bounce soon we're going to drop it as a bullish candidate. Currently our plan suggests that readers use a trigger at $60.35 to buy calls. If triggered our target is the $64.85-67.00 range. The P&F chart is bullish and points to a $73 target.

Picked on August xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 08/17/06 (confirmed)
Average Daily Volume = 588 thousand

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FreightCar Amer. - RAIL - close: 56.95 chg: -0.49 stop: 53.99

The oversold bounce in the transports and the railroads has failed and now shares of RAIL are starting to succumb to profit taking. Shares closed near the low end of their trading range and the stock closed under its simple 200-dma, which is a negative technical signal. Short-term oscillators are also turning more bearish. More conservative types may want to raise their stops. We're not suggesting new plays at this time unless RAIL suddenly breaks out over the $60 level soon.

Picked on August 20 at $ 59.13
Change since picked: - 2.18
Earnings Date 10/26/06 (unconfirmed)
Average Daily Volume = 475 thousand

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Ryland Group - RYL - close: 41.29 change: -1.12 stop: 39.95

There is still no change from our previous updates on RYL. The bounce in the homebuilders is fading. Today's data about a big slow down in existing home sales spurred more profit taking in the group. Traders might want to switch directions and buy puts if RYL breaks down under $40.00 or $39.00. At the moment we're suggesting a trigger to buy calls on RYL at $45.15. Our short-term target is the $49.90-50.00 range, which might also see resistance at its descending 100-dma.

Picked on August xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 10/18/06 (unconfirmed)
Average Daily Volume = 1.7 million

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United Ind. - UIC - close: 51.44 change: +0.17 stop: 47.49

Hmm... traders have a choice to make. UIC pulled back but it did not hit our suggested trigger to buy calls at $50.25. Bulls stepped in around $50.58. Yet at the same time buyers were unable to push the stock past its 100-dma and hold it there. More aggressive traders might want to buy calls now. We're going to stick to our plan with a trigger at $50.25 and a suggested entry range in the $50.25-50.00 region. A dip back toward the 200-dma, just under $50 could also be used as an entry point. If triggered our target is the $54.75-55.00 range. More aggressive traders might want to aim higher. The bullish P&F chart points to a $64 target.

Picked on August xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 08/01/06 (confirmed)
Average Daily Volume = 198 thousand

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VF Corp. - VFC - close: 68.39 change: -1.64 stop: 68.45

The slow down in home sales brought back fears of a slow down in the economy. This sent shares of VFC lower with a 2.3% decline yet bulls bought the dip near its 40-dma just under $68 and the afternoon bounce pared its losses. We are waiting for a breakout over resistance at $70.00. We are suggesting a trigger to buy calls at $70.25. If triggered we're targeting a short-term rally into the $74.00-75.00 range. More aggressive traders may want to aim higher.

Picked on August xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 10/18/06 (unconfirmed)
Average Daily Volume = 567 thousand

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Valero - VLO - close: 61.78 change: -1.67 stop: 59.99

An unexpected rise in fuel inventories sent shares of VLO lower. The stock produced a failed rally under its 10-dma and shares closed with a 2.6% loss. More conservative traders might just want to exit right now to cut any losses in the bud. We still suspect that the nuclear-Iran issue will keep oil prices strong, which should filter into the oil stocks. A bounce back over $62.00 or $62.50 could be used a new entry point. Our target is the $66.00-67.00 range.

Picked on August 20 at $ 61.84
Change since picked: - 0.06
Earnings Date 10/31/06 (unconfirmed)
Average Daily Volume = 9.1 million
 

Put Updates

Boeing - BA - close: 76.36 change: -0.59 stop: 80.45

BA isn't making in big moves but the stock is still trending lower and today's decline is a technical breakdown under its 200-dma. More conservative traders may still want to wait for a breakdown under the $75.00 mark before buying new put positions. Our target is the $70.50-70.00 range. The P&F chart currently points to a $70 target.

Picked on August 10 at $ 75.75
Change since picked: + 0.61
Earnings Date 10/25/06 (unconfirmed)
Average Daily Volume = 4.2 million

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Burlington Nor.SantaFe - BNI - cls: 65.89 chg: -0.80 stop: 70.25

BNI is still trading inside its bearish channel and today's failed rally at $67.50 looks like a new entry point to buy puts. Our target remains the $62.50-60.00 range. The P&F chart currently points to a $49 target.

Picked on August 08 at $ 68.06
Change since picked: - 2.17
Earnings Date 10/24/06 (unconfirmed)
Average Daily Volume = 2.7 million

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Chipotle Mex Grill - CMG - close: 50.16 chg: -0.42 stop: 54.01

CMG is still flirting with a breakdown under the $50.00 level but after five days of declines the stock might be ready for a bounce. Look for a move under today's low (49.70) before considering new plays. The Point & Figure chart points to a $39 target. We are targeting a decline into the $45.50-45.00 range.

Picked on August 09 at $ 50.28
Change since picked: - 0.12
Earnings Date 10/30/06 (unconfirmed)
Average Daily Volume = 414 thousand

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Intuitive Surgical - ISRG - cls: 91.90 chg: -2.74 stop: 101.55

ISRG is showing relative weakness with a 2.89% decline following yesterday's breakdown under the $95 level. The stock is trading in a pivotal area near support in the $92-91 region. A breakdown from here and we should be clear for a drop into the mid-80s. However, we wouldn't be surprised by a bounce back toward the $95 region. Remember that this is an aggressive, higher-risk play due to ISRG's volatility. Our target is the $87.75-87.50 range.

Picked on August 10 at $ 94.90
Change since picked: - 3.00
Earnings Date 10/25/06 (unconfirmed)
Average Daily Volume = 1.1 million

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Johnson Controls - JCI - close: 71.99 chg: -0.97 stop: 76.51

JCI continued to breakdown and shares hit a new five-week low on Wednesday. We do not see any changes from our new play description published on Tuesday night. Technicals have turned bearish and the P&F chart has produced a triple-bottom breakdown sell signal. Currently the P&F target is at $67 but that number could fall further. We are suggesting puts with JCI under $74.00. Our target is the $68.50-67.50 range.

Picked on August 22 at $ 72.96
Change since picked: - 0.97
Earnings Date 10/19/06 (unconfirmed)
Average Daily Volume = 1.3 million

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NII Holdings - NIHD - close: 51.12 chg: -0.06 stop: 52.51

There is no change from our previous updates on NIHD. The stock is still consolidating sideways in the $50-52 range. We'd probably wait for a new decline under $49.90 before considering new put plays. The P&F chart is bearish and points to a $41 target. Our target is the $45.50-45.00 range.

Picked on August 07 at $ 49.90
Change since picked: + 1.21
Earnings Date 07/27/06 (confirmed)
Average Daily Volume = 2.2 million

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Transocean Inc. - RIG - cls: 67.04 chg: -1.50 stop: 70.25

Oil stocks were unable to avoid today's market-wide sell-off. Shares of RIG posted a 2.1% decline and the stock almost produced a new bearish engulfing candlestick pattern. This might be a new entry point to buy puts. The stock has already hit our conservative target at $65.25. Our secondary, aggressive target is the $61 level. Currently the P&F chart points to a $49 target.

Picked on August 07 at $ 69.49
Change since picked: - 2.59
Earnings Date 08/03/06 (confirmed)
Average Daily Volume = 6.4 million
 

Strangle Updates

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Dropped Calls

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Dropped Puts

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Dropped Strangles

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