AGCO Corp. - AG - close: 58.36 change: -0.79 stop: 57.75
Shares of AG are still consolidating sideways under the $60.00 mark. More aggressive traders might want to consider buying a bounce from its 200-dma near $57.35 (obviously adjust your stop). We are waiting for a breakout higher. Our suggested entry point to buy calls is at $60.40. If triggered at $60.40 our short-term target is the $64.90-65.00 range. FYI: The P&F chart is bullish with a $71 target.
Picked on May xx at $ xx.xx <-- see TRIGGER
Aracruz Celulose - ARA - cls: 86.62 chg: +5.11 stop: 79.45
ARA soared more than 6.2% to new highs on Monday. Investors jumped on board following news that the Brazilian government was launching a $13 billion stimulus plan. ARA has exceeded our target in the $84.50 zone and is nearing our second target at $88.50-90.00. The intraday high today was $87.16. Volume came in above average on the rally, which is bullish. We would seriously consider an early exit just to lock in gains on this big pop.
Picked on April 28 at $ 80.25 *1st target hit $84.50
CNOOC - CEO - close: 180.36 change: -0.62 stop: 174.75
A much needed pull back in crude oil weighed on the energy stocks. Shares of CEO essentially traded sideways but investors bought the dip near $177. We remain bullish and would still consider new positions now but the stock has developed short-term resistance near $181.50. Readers may want to wait for a rally past $181.75 or $182.00 before initiating new positions. Our target is the $199.00-200.00 range. FYI: We have to label this a more aggressive play because the option spreads are so wide!
Picked on May 06 at $183.47
CF Ind. - CF - close: 139.45 chg: +2.62 stop: 129.90
It was a quiet rally for the fertilizer stocks today. The group didn't see much attention but stocks continued to march higher. CF rose 1.9% and is poised to breakout over $140.00. More conservative traders might want to raise their stop toward $132 since last week's low was $132.35. Our target is the $155.00-160.00 range. FYI: CF announced that its annual shareholder meeting will be held on Tuesday, May 13th.
Picked on May 05 at $137.50 *triggered
Carbo Ceramics - CRR - close: 48.00 change: +0.55 stop: 44.89
There is no change from our weekend comments on CRR. The stock continues to bounce and posted another gain. Traders bought the dip this morning near its 10-dma, which is bullish. There is some resistance near $50.00 but we're aiming for the $52.00-52.50 zone.
Picked on May 11 at $ 47.45
Cytec Ind. - CYT - close: 61.66 change: +1.22 stop: 58.45
CYT turned in a strong session. The stock rallied 2% and broke through resistance at its 200-dma. This looks like another entry point to buy calls. More conservative traders could inch up their stops even further. We're listing two targets. Our first target is the $64.75-65.00 range. Our second target is the $68.00-70.00 zone. We have to label this a more aggressive play because the spreads on the options are pretty wide. There isn't much we as traders can do about that except try to minimize its impact with good entry and exit strategy.
Picked on April 27 at $ 60.64
Deere & Co. - DE - close: 89.37 change: +3.06 stop: 86.45 *new*
Almost! DE traded to an intraday high of $89.89 and closed with a 3.5% gain. Our short-term target is $89.95. Tomorrow is our last day. We plan to exit at Tuesday's closing bell to avoid earnings on Wednesday. It's up to you if you want to exit tomorrow morning in an effort to avoid any pull back from today's rally or hold on and exit at the close. We are raising our stop loss to $86.45.
Picked on May 06 at $ 86.08
Express Scipts - ESRX - close: 71.46 chg: +0.67 stop: 68.19
Today's performance in ESRX looks like another bullish entry point to buy calls. Overall we don't see any changes from our prior comments. We do expect some resistance at $74.25 but our target is the $77.00-80.00 range. More conservative traders will want to consider taking some profits off the table near $75.00. The Point & Figure chart is bullish with a $81 target.
Picked on May 08 at $ 70.96
Fortune Brands - FO - close: 69.84 change: +1.30 stop: 67.95
FO is still consolidating sideways but today's performance was bullish. The stock added 1.8% and is once again set to breakout over $70.00. We are tempted to buy calls again right here but we'll stick to our previous comments and suggest readers wait for a rise past $70.00 or $70.15. Our target is the $74.00-75.00 range. The 200-dma is technical resistance near $75.00. The P&F chart is bullish with a $95 target.
Picked on May 07 at $ 70.05 *triggered
Foster Wheeler - FWLT - close: 68.90 change: -0.07 stop: 65.99
FWLT under performed the market on Monday. It looks like the stock was asleep all day. Shares just meandered sideways in a tight range. We are suggesting a trigger to buy calls at $70.51, which is above last week's high. If triggered we have two targets. Our short-term target is $74.90-75.00. Our secondary target is the $79.50-80.00 range. We're starting the play with a relatively wide (aggressive) stop loss. You may want to use a tighter stop! The P&F chart is bullish with an $84 target.
Picked on May xx at $ xx.xx <-- see TRIGGER
Gilead Sciences - GILD - close: 54.48 chg: +0.84 stop: 49.99
GILD out performed its peers in the biotech sector. The BTK index rose 0.89% and GILD added 1.5% as traders bought the dip at its rising 10-dma. Our target is the $57.50-60.00 range. Don't forget that any time we play a biotech company it should be considered an aggressive, higher-risk trade. There is always risk of some FDA decision or clinical trial result surprising the market and sending the stock gapping one direction or the other. FYI: GILD is due to present at a conference on May 13th.
Picked on May 04 at $ 53.63
Harsco - HSC - close: 62.00 change: +1.08 stop: 59.85 *new*
It looks like the trend of higher lows is overpowering the potential double-top pattern. Traders bought the dip near round-number support at $60.00 today. HSC added 1.7% by the closing bell. We see today's move as a new entry point to buy calls. We're raising the stop loss to $59.85. Our four-week target is the $64.50-65.00 range.
Picked on May 01 at $ 60.38
Intl.Bus.Mach. - IBM - cls: 125.24 chg: +1.18 stop: 119.75
Tech stocks were the market leaders today and IBM was doing its part. Shares rallied past resistance at the $125.00 level after traders bought the dip near its 10-dma. IBM did pare its gains from $126 but still closed up 0.9%. This looks like another entry point to buy calls. IBM has already hit our early target at $124.90. We are altering our secondary target from $128.00-130.00 to $129.50-130.00.
Picked on April 30 at $120.75 */1st target achieved 124.90
iShares Russ.2000 - IWM - cls: 73.07 chg: +1.57 stop: 69.85
It was a strong day for the small caps. The IWM added almost 2.2% and is challenging its recent highs and its exponential 200-dma. More conservative traders might want to raise their stop loss closer to $71.00. Our multi-week target is the $77.50-80.00 zone. The P&F chart is bullish with an $87 target.
Picked on April 28 at $ 72.55 *triggered
Joy Global - JOYG - close: 79.96 chg: +0.97 stop: 74.99
Target exceeded! JOYG displayed relative strength and surged to a new high at $80.35. Our first target was the $79.50-80.00 range. We strongly suggest that readers take some money off the table right here. Our secondary, more aggressive target is the $84.00-85.00 range. We will plan to exit ahead of the late May earnings report. The P&F chart is already bullish with an $88 target.
Picked on April 16 at $ 72.55 */ fist target exceeded
Mosaic - MOS - close: 126.99 change: +0.57 stop: 119.75
MOS under performed some of its peers and the S&P 500 but shares continue to look staged for a rally higher. We don't see any changes from our weekend comments. More aggressive traders will want to keep their stop loss under the 50-dma (115.71). More conservative traders could tighten their stop toward last week's low (121.15). Our first target is the $138.00-140.00 range. We are still suggesting bullish positions here but if you prefer to buy on momentum wait for a rise past $130.00.
Picked on May 05 at $126.75 *triggered/gap higher entry
Arcelor Mittal - MT - close: 95.89 chg: +1.32 stop: 92.45*new*
This is it. Tuesday is our last day. We plan to exit at the closing bell to avoid Wednesday's earnings report. Our target is $96.50. However, we strongly suggest that readers consider an early exit first thing tomorrow to lock in a gain. We're raising our stop loss to $92.45.
Picked on May 05 at $ 90.25 *triggered
Nucor - NUE - close: 81.34 change: +2.93 stop: 75.95
NUE was a strong out performer on Monday. The stock rallied 3.7% and almost erased Friday's decline. The stock has already surpassed our target in the $79.50-80.00 range. If you haven't done any profit taking yet we suggest you do so now. Our second target remains the $84.00-85.00 range.
Picked on April 22 at $ 74.63 /1st target exceeded 79.50
POSCO - PKX - close: 129.82 change: +2.23 stop: 119.75
PKX is still inching higher. The stock is nearing potential resistance at its 100-dma near $130.80. If PKX sees any profit taking we'd buy a dip in the $127-125 zone. Our target is the $139.00-140.00 range. More conservative traders may want to raise their stop loss toward $122.25 under last week's low. NOTE: We would consider this a slightly more aggressive play for two reasons. First, PKX is prone to gap openings as the U.S. traded shares adjust to trading overseas the night before. Second, the spreads on the options are pretty wide and that immediately puts us, as option traders, at a disadvantage.
Picked on May 05 at $125.55 *triggered