Cameron - CAM - close: 93.64 chg: +1.91 stop: 89.90
As we expected traders are buying the dip in CAM near $90 and its rising 100-dma. The move over $93.00 looks like another entry point for bullish positions. If CAM is going to have any trouble it's probably going to be in the $95-96 zone and then the 50-dma, just north of $96. On the positive side the short-term technical oscillators are improving and starting to suggest bullish buy signals from oversold conditions. Our target is the $99.00-100.00 range. More aggressive traders could aim for $105 but the stock does have pretty clear resistance near $100. Since we're fighting the "trend" in the technical picture we're going to list this as an aggressive, higher-risk play. FYI: CAM is due to split 2-for-1 on December 31st, 2007.
Picked on December 18 at $ 91.85
China Security - CSR - close: 21.72 change: -0.54 stop: 19.99
Shares of CSR can't seem to gain any traction. The stock is on the verge of breaking its bullish trend of higher lows. If shares don't see a convincing bounce tomorrow we might just drop it and wait for a breakout over $23.50 or $24.00. This is an aggressive play due to the stock's volatility. We're using a very wide stop loss at $19.99. More conservative traders may want to use a stop closer to today's low. We have two targets. Our first target is the $26.00 level. Our second target is the $29.00 level. The P&F chart is bullish with a $34 target.
Picked on December 16 at $ 23.25
Energen - EGN - close: 66.10 change: +0.51 stop: 62.75
Investors continue to buy the bounce from EGN's test of support at the bottom of its rising channel. The close over $65 these past two days is a good sign. The stock is about to test potential short-term resistance at its 10-dma near 66.46. Our target is the $69.50-70.00 range. We're suggesting a stop under the 50-dma. The P&F chart is bullish with a $74 target.
Picked on December 18 at $ 65.32
Energizer - ENR - close: 113.54 chg: -1.40 stop: 109.95
ENR's bullish trend is in jeopardy! The long-term bullish trend is still in good shape but short-term the technicals are deteriorating. Furthermore today's session produced a failed rally at the 10-dma and a bearish engulfing (reversal) candlestick pattern. We are not suggesting new positions and more conservative traders will want to consider an early exit now to limit losses. We would also seriously consider a tighter stop near $111.50 or $112.00. If ENR continues to trade lower tomorrow we'll probably drop it. Our target has been the $119.00-120.00 range and shares hit $118.88 on Wednesday last week. FYI: The P&F chart has a very bullish pattern called a bullish triangle breakout and it is forecasting a $157 target.
Picked on November 26 at $112.75 *triggered
Holly Corp. - HOC - close: 52.30 change: +1.03 stop: 47.45*new*
Shares of HOC out performed the market on Thursday with a 2% gain. Driving the move was an analyst upgrade to a "buy" rating. We are adjusting our stop loss to $47.45. Our target on HOC is the $54.75-55.00 range but readers will want to keep an eye on the descending 50-dma currently near $55.00 since it will probably be overhead resistance. We may end up adjusting our target to the 50-dma in the next couple of days. FYI: It does look like HOC has put in a bottom and the P&F chart now points to a $65 target. More aggressive traders may want to aim for the $58-60 zone.
Picked on December 03 at $ 50.58 *bad tick/gap open
Hologic - HOLX - close: 69.50 chg: +1.98 stop: 63.75
Target achieved! The rally continues in HOLX and the stock hit an intraday high of $69.75. We set our first target in the $69.50-70.00 range. This is a new all-time high for the stock. The $70.00 level should be round-number psychological resistance and normally we would expect some profit taking, especially after the three-day rally. However, there is the possibility that with HOLX being added to the NASDAQ-100 index on Monday, December 24th that the stock may continue to see buying pressure tomorrow and Monday. We're not suggesting new positions at this time. Our more aggressive target is the $74.00-75.00 range. FYI: The P&F chart is bullish and points to an $84 target.
Picked on December 18 at $ 66.22
Noble Energy - NBL - close: 79.64 chg: +1.67 stop: 74.75
NBL out performed the market with a 2.1% gain and set another new relative high. Shares popped higher this morning at $78.54 and dipped back to fill the gap before taking off again. This new high above resistance at $78.00 looks like another entry point to buy calls. However, given NBL's proximity to potential round-number resistance at $80.00, readers may want to wait for a rise over $80.00 or another dip near $78 as their next entry point. Our target is the $84.50-85.00 range. The P&F chart is bullish with an $86 target.
Picked on December 19 at $ 78.25
Amazon.com - AMZN - cls: 90.58 chg: +1.20 stop: 92.55
AMZN continues to bounce. Yesterday's and today's close over $90.00 is a warning sign for the bears. Plus, today's close over the 10-dma is another caution sign for the bears. We're not suggesting new bearish positions at this time but a new decline under $89.00 might change our minds. AMZN has already hit our initial target in the $85.25-85.00 range. Currently we're aiming for the $81.50-80.00 zone. The P&F chart is bearish with a $74 target.
Picked on December 16 at $ 89.08
Boeing - BA - close: 87.19 change: +0.57 stop: 93.26
The downward momentum in BA is slowing. It looks like the stock is trying to find a bottom even though shares continue to trade with a bearish trend of lower highs. Readers might want to do some profit taking right here. Another failed rally under $90.00 would be a good sign but a failed rally under the 10-dma near $88.65 would be better. We're not suggesting new positions at this time. We have two targets. Our first target is the $85.55-85.00 range. Our second target is the $81.50-80.00 zone. The P&F chart is bearish with a $75 target.
Picked on December 04 at $ 91.43 *triggered/gap down
Genentech - DNA - close: 67.96 chg: +0.63 stop: 70.85
DNA produced an oversold bounce on Thursday. Furthermore after three days of trading sideways this almost looks like a short-term bottom. We would be careful here and expected a rebound back toward the $70.00 region. Wait for a failed rally under $70.00 before considering new bearish positions. Our target is the $62.50-60.00 range. The main hurdle for the bears is support near $65.50. More conservative traders could do some profit taking near $65.00. FYI: In the news today DNA said it came to an agreement with a couple of doctor groups over the use of DNA's Avastin drug but we did not see any after market reaction to the news. Nor was the report very clear on how the "agreement" would affect Avastin sales or the much more expensive Lucentis treatment also created by DNA.
Picked on December 16 at $ 68.43
Garmin - GRMN - close: 100.11 chg: +3.15 stop: 107.25
There was some positive news out midday about soaring GPS unit sales this holiday season. We warned readers from the beginning that there was a big camp of bullish investors with positive expectations for GRMN's holiday sales. Overall today's bounce is just a rebound inside its new short-term bearish trend. The stock is testing resistance near $100 and the stock has additional overhead resistance with the 50 and 100-dma both near $103.50. A failed rally here near $100 would be a new entry point but the stock is so volatile it might be a hard to identify the actual entry point. GRMN has already exceeded our first target in the $96.00-95.00 range. We're currently aiming for the $91.00-90.00 zone. More conservative traders may want to lower their stop.
Picked on December 11 at $104.78
Ralph Lauren Polo - RL - cls: 62.19 change: -0.92 stop: 66.26
RL is off to a good start. The stock provided another failed rally near $64 this morning and shares closed near new 52-week lows on above average volume. We don't see any changes from yesterday's comments. The Point & Figure chart produced a quadruple bottom breakdown sell signal and points to a $55 target. We are suggesting puts with RL under $64.00. Our target is the $58.00-57.00 range although odds are good the stock will see an oversold bounce near $60.00.
Picked on December 19 at $ 63.11
Sears Holding - SHLD - cls: 102.48 chg: -2.37 stop: 110.55*new*
Picked on December 11 at $110.28
Shire Plc - SHPGY - close: 67.72 change: +0.07 stop: 71.01*new*
SHPGY has spent the last five days trading sideways. It is encouraging to see resistance near $68.50 hold up so we're adjusting our stop loss to $71.01 and more conservative traders may want to put their stop closer to $70.00. Our initial target is the $65.25-65.00 range and we have decided to add a second, more aggressive target in the $62.00-60.00 zone. FYI: Any time we play a biotech or even a drug stock we're dealing with a higher-risk situation. We are at risk that some FDA decision or some clinical trial news could send the stock gapping one direction or the other.
Picked on December 13 at $ 68.07 *triggered/gap down entry