The market ended little changed on Tuesday, paring gains after the Dow topped 13,000 for the first time since May 2008, and as higher oil prices damped prospects for the economy. The Dow finished up 15.82 points, or 0.12 percent, at 12,965.69. The S&P 500 was up 0.98 point, or 0.07 percent, at 1,362.21, and the Nasdaq fell 3.21 points, or 0.11 percent, to 2,948.57
February 16th! Dave Dispenette with The Stock Playbook giving you a small sample of what we do on a nightly basis for our subscribers.
DOW Jones closed up 123 points – .9%. NASDAQ composite closed up 44 points- 1.5%. S&P 500 up 14 points – 1.1%
We’re a little extended, and I feel we’re due for a pull back, but nothing major at this point in time. So we continue to have our long positions that we hold on to, and we’re starting to establish some shorts to hedge ourself.
One of our long positions, AEA (Advanced America) they provide payday cash advance services, got bought out today at $10.50. Nice solid 32% bounce for the day. We’ve told our subscribers that it was finding support at the 200 day moving average twice in the last month, today they were rewarded with a real nice gain.
GNC, another one of our holdings in the Hedge Fund, broke out today after a great quarter! 17% revenue growth, continuing to see accelerating revenue growth, accelerating earnings growth, great projections going forward. If you look at the weekly chart here, you can see the institutional sponsorship continues to tick up… they love this company and they’re coming for it! 149 funds, 202, 260.. any weakness in GNC bringing it down to that $28/29 level, I think could be bought. This is one of our core holdings in the fund.
Another stock that we’ve established a full position in, Tango! They develop on-demand lifecycle management software. They broke out on heavy volume two days ago, pulled back a little bit yesterday, giving some of us an opportunity to get long after missing the initial breakout. We’ve been in this stock since $12/share. Continue to hold it… but going into their earnings, we thought this pullback was providing an opportunity, stock moved up, and hit a new all time high today.
CJES, another name we continue to like. Oil and gas field services, hydraulic fracturing and coil tubing services, focusing on complex well completion. Sold off on what I thought was a great revenue and earnings number, 156% revenue growth, 233% earnings growth. Pulled back, dropped down to $18/share, we immediately sent out an intra-day alert (these are the types of things you get as a subscriber to our service) telling our subscribers to get long at 18.25/18.5 this morning. They’re already up 10%, we like this stock, we think it goes much higher.
Invensense (INVN), another one of our long term holdings. Two days in a row pulling back, I’d like to see it come in a little more. We added a little bit more today, but that’s to a position that we already own at $10/share. So we’re cost-averaging up, which is what we prefer to do, as opposed to throwing good money after bad by cost-averaging down.
On the short side, Tesla (TSLA), if the market is open I think you could short this stock. I like the $35 level as a stop, if you need to give it some room you know you could go to $36. Heavy volume, but Tesla short right here with a stop on the other side of $35, or $36 depending on your risk tolerance. I think is setting up for a great short opportunity.
Green Mountain Coffee Roasters (GMCR), bouncing again, back to where it was, its high after they came out with their earnings beat. I think you could get short here at 69, put a tight stop, $72, $73/share. And Decker’s Outdoor (DECK), also bouncing up to to the upper end of its range. As it comes into that $90 level, call it $92, I think you get short. Use the 200 day as your stop loss level.
That’s it for the Playbook, I hope you have a good night, and I will talk to you soon!
Short Radar: I feel the market is due for a pullback and any of the following could serve as a good short candidate… AAPL, GOOG, BIDU, TSLA GMCR, DECK, FOSL, LNKD, AMZN, NFLX and a few more that we discuss in tonights video with entry and exit points.
Earnings Radar: Accretive Health (AH) is expected to announce on 2/29 and we like this one into their earnings report…listen to tonights video to see our Playbook.
New to Radar: Roadrunner Trans Systems (RRTS) provides non-asset based transportation and logistics services, and intermodal brokerage throughout North America. Volume has been heavy in this stock over the last month. We prefer Echo Global Logistics(ECHO) in the spacebutwould be interested in RRTS on a pullback toward the $16.50 level with a stop set on the other side of the 50 day moving average.
The market slumped Wednesday in one of its worst showings this year as Greece, slogging through negotiations with other countries over a bailout, once again cast a long shadow over the financial markets. The Dow dropped 97.33 points to close at 12,780.95. The S&P 500 fell 7.27 points to 1,343, and the Nasdaq lost 16 points to
2,915.
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The market finally got a deal in Greece, but it didn’t produce much of a rally. The Dow finished up 6.51 points at 12,890.46. The S&P 500 rose 1.99 to 1,351.95, and the Nasdaq climbed 11.37 to 2,927.23.
The market resumed its slow but steady climb Tuesday as Greece appeared close to announcing a deal with creditors to cut its debt. The Dow rose 33.07 points, or 0.3 percent, to close at 12,878.20. The S&P 500 gained 2.72 points, or 0.2 percent, to 1,347.05, and the Nasdaq rose 2.09 points, or less than 0.1 percent, to 2,904.08.
The market coasted on Thursday, leaving stocks unchanged while they looked ahead to Friday for a major jobs report. U.S. government bonds hardly moved, and neither did European stocks. The Dow closed down 11.05 points at 12,705.41. The S&P 500 rose 1.45, or 0.1 percent, to 1,325.54, and the Nasdaq climbed 11.41 points, or 0.4 percent, to 2,859.68.
The market fell slightly Tuesday on concerns that a deal to prevent a default by Greece might fall through. A slew of earnings also did little to bolster investors’ confidence. The Dow closed down 33 points at 12,676. It has risen or fallen less than 100 points in 13 trading sessions, the longest calm stretch since March and April of last year. The S&P 500 lost a point to close at 1,315, and the Nasdaq added 2 points to close at 2,787.
