New Split Drops
No New Split Drops
New Candidate Drops
| PFGC - Performance Food Group $47.13 -4.13 |
The holiday season ended abruptly for this major food distributor. Our suspicion is that PFGC was a beneficiary of late December window dressing. Unfortunately, that momentum did not carry over to the first day of this year. Longer term, PFGC still looks very good both technically and fundamentally. The early days of the new year may be dominated by value investors. Rest assured, momentum investors will likely reemerge some time this quarter.
| RDN - Radian Group $71.63 -3.44 |
The first several hours of the new trading year were marked by profit taking. Consequently, we were stopped on this play with a slight loss. The FOMC meeting two weeks ago provided some short-term momentum for financial stocks. However, the market is still dominated by fear. Any profits, even tiny profits, appear to be irresistibly tempting for traders. Radian still has the possibility to recover quickly. The stock possesses one of the best charts on the NYSE. We will continue to monitor the stock to look for another buying opportunity.
| RKY - Adolph Coors Company $78.25 -2.06 |
It looks like RKY may have encountered the top of its recent rally with resistance near the $80 mark. Although light selling accompanied today's slide, the actual fall was very sharp. This could indicate that most of the volume was on the sell-side and that buyers are no longer willing to purchase shares at current prices. Additionally, a swift pullback in the Standard and Poor's 500 Index created selling pressure on many defensive stocks. With this in mind, our stop of $78 looked to be well positioned.
| XL - XL Capital Limited $87.50 +0.13 (+0.13) |
On Tuesday, the broad markets sold off in a big way with both the Dow Jones Industrial Average (INDU) and the NASDAQ Composite Index (COMPX) down triple digits. During the flood of this selling, our stop on XL Capital Limited was hit at $85.00. After nearly a month, we are out of this play with a $4.75 profit. We will continue to watch XL for better opportunities and a possible split announcement in the near future.
New Momentum Drops
| RHB - RehabCare Group $43.00 -8.38 |
RHB has done very well recently, but it looks like many stocks in the healthcare sector could be on the verge of a near-term reversal. Today's sharp drop through two intermediate highs could be a good indication of reversal. Protecting us against today's dramatic fall was our stop of $47.
Drops Index
