Option Investor
Play Updates

In Play Updates and Reviews

HAVING TROUBLE PRINTING?
Printer friendly version

Call Updates

Constellation Energy - CEG - cls: 101.85 chg: +1.93 stop: 97.45*new*

A strong day for the markets helped propel CEG to a new 52-week high. Shares rallied 1.9% and closed near its best levels of the day. We are adjusting our stop loss to $97.45. Our target is the $107.50-110.00 range.

Picked on November 20 at $100.56
Change since picked: + 1.29
Earnings Date 01/31/08 (unconfirmed)
Average Daily Volume = 1.3 million

---

Energizer - ENR - close: 116.02 chg: +1.41 stop: 108.95 *new*

The widespread market rally also helped push ENR past potential resistance at the $115 level. We are adjusting our stop loss to $108.95. The P&F chart target is now $157. Our target is the $119.00-120.00 range

Picked on November 26 at $112.75 *triggered
Change since picked: + 3.27
Earnings Date 01/28/08 (unconfirmed)
Average Daily Volume = 511 thousand

---

Flowserve - FLS - cls: 92.39 change: +0.18 stop: 88.45

FLS under performed the market on Wednesday yet at the same time bulls were defending it near $91.00. The intraday bounce could be used as a new entry point for bullish positions. Furthermore, after the closing bell, FLS announced it has won a big contract to provide pumps for the "fully integrated Pearl Gas-to-Liquids (GTL) facility being developed by Qatar Petroleum and Shell on the eastern coast of Qatar" (source: Flowserve). The stock was trading up slightly on this news in after hours. We have our stop loss under the late November low but more conservative traders may want to consider a stop loss closer to $90.00. Our target is the $99.50-100.00 range.

Picked on November 25 at $ 93.04
Change since picked: - 0.65
Earnings Date 02/28/08 (unconfirmed)
Average Daily Volume = 724 thousand

---

Fannie Mae - FNM - close: 36.13 change: +0.95 stop: 29.85*new*

FNM garnered at least three downgrades this morning yet bulls stepped in to buy the stock near $34.00. FNM ended the session up 2.7% and on relatively strong volume. We had been hoping for a dip into the $32.25-30.00 zone but that might be wishful thinking. We are going to adjust our suggested entry point to $33.50-32.50 and adjust our stop loss to $29.85. This way FNM could dip to its 10-dma and hit our trigger to buy calls. If we are triggered then our target is the $39.00-40.00 range.

Picked on December xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 02/08/08 (unconfirmed)
Average Daily Volume = 14.6 million

---

Holly Corp. - HOC - close: 47.89 change: +0.89 stop: 44.95

Oil stocks rallied with the market and HOC added almost 1.9% on strong volume. This looks like a new bullish entry point to buy calls on HOC. Our initial target is the $54.75-55.00 range. FYI: The P&F chart is still very bearish following the November sell-off.

Picked on December 03 at $ 50.58 *bad tick/gap open
Change since picked: - 2.69
Earnings Date 02/12/08 (unconfirmed)
Average Daily Volume = 859 thousand

---

Itron Inc. - ITRI - close: 78.01 change: +0.25 stop: 73.35

In spite of all the market volatility the last three days shares of ITRI continue to trade sideways. We do not see any changes from our weekend comments. We're suggesting a trigger to buy calls on ITRI in the $76.00-74.00 zone (our "official" entry will be $76.00). If ITRI does not pull back our alternative entry point will be the $80.26 mark. If triggered our target is the $86.00-87.00 range near its 100-dma. The P&F chart is more encouraging with a $92 target.

Picked on November xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 02/13/08 (unconfirmed)
Average Daily Volume = 824 thousand

---

JA Solar - JASO - close: 55.22 change: -0.67 stop: 52.49

Many of the solar stocks hit some profit taking today and after their recent run up I'm seeing a lot of short-term bearish reversals. It will be interesting to see if the group continues to go lower or do they join the market rally. Shares of JASO dipped back toward support near $55 after this morning's pop higher. Today's move is bearish but another rebound over $57.50 or $58.00 could be used as a bullish entry point. The stock is volatile and should be considered an aggressive play. More conservative traders might want to adjust their stops toward $54.00. Our target is the $69.00-70.00 range. The P&F chart is very bullish with an $88 target.

Picked on December 03 at $ 56.25 *triggered
Change since picked: - 1.03
Earnings Date 03/31/08 (unconfirmed)
Average Daily Volume = 3.0 million

---

Nat.Oilwell - NOV - close: 71.78 change: +0.72 stop: 64.90

Oil service stocks under performed the OIX oil index but both groups were higher today. NOV added about 1% and closed right at its 50-dma. We remain bullish with shares above $70.00. We're listing a stop loss at $64.90 but more conservative traders might want to put their stop loss near $67.00 instead. Our target is the $79.00-80.00 range. The Point & Figure chart is bullish with an $84 target.

Picked on December 03 at $ 70.73
Change since picked: + 1.05
Earnings Date 02/06/08 (unconfirmed)
Average Daily Volume = 5.5 million

---

ExxonMobil - XOM - close: 89.92 chg: +1.80 stop: 83.95

Shares of XOM paced the move in the oil index with both adding about 2%. XOM briefly traded above technical resistance at its 50-dma. The stock looks poised for further gains. Our target is the $92.50-95.00 range. More aggressive traders might want to narrow their exit range to the $94-95 zone.

Picked on November 13 at $ 86.75
Change since picked: + 3.17
Earnings Date 01/31/08 (unconfirmed)
Average Daily Volume = 24.2 million
 

Put Updates

Boeing - BA - close: 90.70 change: +0.71 stop: 95.01

We cautioned readers to expect a bounce near $90.00 and that is what BA delivered. However, the bounce was rather anemic and shares reversed from its highs near $92.00. This looks like a bearish failed inside the stock's current bearish trend. While we are encouraged by the move if the major indices continue higher then bears might be hard pressed to keep BA from rebounding. Our target is the $85.50-85.00 region just under the November lows.

Picked on December 04 at $ 91.43 *triggered/gap down
Change since picked: - 0.73
Earnings Date 01/31/08 (unconfirmed)
Average Daily Volume = 7.0 million

---

Celgene - CELG - close: 59.93 change: +1.04 stop: 64.05

CELG reversed a good portion of yesterday's losses with an early spike higher this morning. Yet shares could not close over the $60.00 level, which is a minor victory for the bears. We would watch for a failed rally in the $61-62 region as a new bearish entry point for puts. Our first target is the $55.50-55.00 range. Our second target is the $51.00-50.00 region. More conservative traders will want to consider a tighter stop loss.

Picked on December 04 at $ 59.49 *triggered
Change since picked: + 0.44
Earnings Date 01/31/08 (unconfirmed)
Average Daily Volume = 4.2 million

---

Harley Davidson - HOG - cls: 48.05 change: +0.87 stop: 50.01

Traders will want to turn defensive on HOG. The stock is flirting with a breakout over short-term resistance near $48.00. If the stock market continues to climb we would expect HOG to rally toward overhead resistance near $50.00. If you don't want to endure that sort of move then tighten your stop or exit early! We're not suggesting new positions at this time. Our target is the $41.00-40.00 range. The P&F chart is bearish with a $38 target.

Picked on November 27 at $ 46.48
Change since picked: + 1.57
Earnings Date 01/17/08 (unconfirmed)
Average Daily Volume = 2.1 million
 

Strangle Updates

None
 

Dropped Calls

Fording Candn. Coal - FDG - cls: 33.89 chg: -0.35 stop: 29.95

We are dropping FDG as a bullish candidate. The market produced a very impressive rally today yet shares of FDG ignored it. The stock reversed under resistance near $35.00 again. We had been waiting on a dip into the $32.50-32.00 zone. We'll keep an eye on it and readers can watch for a dip or look for a new relative high over $35.30.

Picked on November xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 02/12/08 (unconfirmed)
Average Daily Volume = 770 thousand

---

Gilead Sciences - GILD - cls: 46.78 change: +1.57 stop: 43.85

Target achieved. Given a bullish market environment today shares of GILD soared to a 3.38% gain. The stock hit an intraday high of $47.05, which was enough to tag our suggested exit in the $47.00-48.00 range. More aggressive traders may want to aim higher.

Picked on November 13 at $ 43.11
Change since picked: + 3.67
Earnings Date 01/31/08 (unconfirmed)
Average Daily Volume = 7.6 million

---

Synaptics Inc. - SYNA - close: 53.38 chg: -0.81 stop: 52.95

The market's widespread rally today was not enough to save SYNA from its recent relative weakness. The stock continued to under perform and hit our stop loss at $52.95. Shares of SYNA are now testing technical support at the rising 50-dma.

Picked on November 26 at $ 56.55 *triggeredd
Change since picked: - 3.17
Earnings Date 01/24/08 (unconfirmed)
Average Daily Volume = 1.1 million
 

Dropped Puts

ESSEX Property - ESS - cls: 102.02 chg: +3.11 stop: 105.55

Shares of ESS can be volatile and the stock rallied over 3% today. ESS continues to have resistance near $105 but we suspect the industry has put in a short-term bottom and investors may be tempted to buy anything real estate related now that the government is working to stop the bleeding in the sub-prime market. We are suggesting an early exit now.

Picked on November 20 at $101.75
Change since picked: + 0.27
Earnings Date 10/31/07 (confirmed)
Average Daily Volume = 272 thousand
 

Dropped Strangless

None
 

Play Update Archives