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Play of the Day (For Monday)
Interactive Chart
Sunday, February 25, 2001

PII - Polaris Industries Inc $48.81 (+1.06)

Sunday's Comment:

The way the NASDAQ has been acting lately, it's easy to forget that there are still pockets of strength to be found. PII is obviously planted square in the middle of one of these pockets, as the stock withstood last weeks selling pressure like a champ. Polaris Industries manufactures and markets numerous types of all-terrain vehicles such as snowmobiles and personal watercraft. On Friday, the Minnesota based company achieved a nearly 3% gain for the day on fantastic volume and came within 23 cents of hitting a new high. Normally the stock trades about 82,000 shares, based on a 3-month trading average but Friday's session saw 193,000 shares changing hands. On Thursday we suggested that if the stock rose through resistance on better than 60K volume traded by midday, it might make a good entry point. We were pleasantly surprised to see the nice volume accompany the move through resistance. In addition, the MACD looks to be rounding out and may be close to issuing another buy signal. For now we will watch to see if support holds at the 10-dma at $47.95 and then the 20-dma at $47.38. Resistance comes in at the present 52-week high of $49.22 and above that, expect a challenge at the half-century mark. Consider opening a position if PII bounces off support or rises through resistance on volume exceeding 75,000 traded by midday. A cooperative market with strength in the S&P 500 (SPX.X) would be a helpful combination when looking to start a new play. We will keep our stop loss at $44.88 for now.

Picked on February 13th @ $48.70
Change since picked +0.11
Stop Loss at $44.88

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