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PLAY >New Updates Thursday, March 22, 2001
New Split Updates   New Candidate Updates   New Momentum Updates
(We update our stop losses daily at the CURRENT PLAYS page.)

New Split Updates


New Candidate Updates

CEC - CEC Entertainment Inc. $40.45 -0.66 (+0.05)

CEC Entertainment continues to trade in the $40-$42 range despite a generally weak market. On Thursday, shares of CEC fell to an intra-day low of $40.01 before making a recovery late in the day. The stock ended the session at $40.45 on strong volume of 224,000 shares. CEC has dipped back down to its previous downward trend line and it has made two consecutive lower lows coupled with lower highs. On the bright side, daily volume has been increasing over the past three sessions and the stock has not violated the lower end of its trading range. For now, support is Thursday's intra-day low of $40.01 with additional support at $39.50, the March 1st intra-day low. Resistance is the 20-dma at $41.16 and then Tuesday's intra-day high of $42.15. Traders may consider starting new plays on a bounce off of $40.01 or a move above $41.16 on volume of at least 80,000 shares by noon. We are keeping our stops at $39.50 as downside protection.

Picked on March 6th @ $41.81
Change since picked -1.36
Stop Loss @ $39.50
Interactive Chart Quote News First Call on CEC

RDN - Radian Group Incorporated $60.98 -1.41 (-0.02)

Benefiting from highly competitive mortgage rates and a less demanding approval process, Radian Group is looking to improve its annual earnings growth by 15% this year. What's more, interest rates now match their lowest levels since mid-1999 and could create more immediate interest in the stock. On the day, RDN shares were pressured by sector related weakness, which caused the NYSE Financial Index (NF) to fall 11.29 points, or 2.03%, to close at $542.16. The broad industry decline swayed RDN to finish lower by $1.41 and close at $52.94. We need to point out that today's decline was accompanied by volume of 521,900 shares, which is slightly more than the three-month average. This indicates that there is ample selling at present levels and could result in further weakness. Still, the MACD is on the verge of a bullish crossover, which tells us that the recent bump and run off $60 could still be possible. So, with that said, should shares trend higher later in the week, we'll look for resistance to emerge at the 200-dma of $62.91, followed by a harder challenge at the $65 mark. Support will come at $60. Look for entry points when shares bounce off support or break above the 200-dma on volume of at least 250,000 shares traded by midday.

Picked on March 18th @ $61.00
Change since picked -0.02
Stop Loss @ $59.00
Interactive Chart Quote News First Call on RDN

UHS - Universal Health Services $82.05 -2.44 (-2.32)

There was nowhere to run and hide for members of the NYSE this morning. Even UHS, a major owner and operator of hospitals that has been recently attracting the value-oriented crowd, saw share price declines. Despite today's pullback, UHS appears to have put in an important bottom by finding support at its 200-DMA. This highly watched moving average closed today at $80.66. We also like the strong possibility that UHS may be on the verge of announcing a split. Previous splits occurred when the stock was trading at levels substantially below today's closing price. The strong market recovery into the close may help UHS to start moving back up tomorrow. We are encouraged by the fact that the MACD is very close to issuing a buy signal. That said, we are comfortable adding positions if UHS can stay above the 200-DMA, just in case there is some weakness in the early going. Otherwise, momentum traders may be interested in buying UHS if it can climb above the 50-DMA of $85.19, accompanied by volume that approaches 350,000 shares near the close.

Picked on March 15th @ $83.50
Change since picked -1.45
Stop Loss @ $80.00
Interactive Chart Quote News First Call on UHS

New Momentum Updates

MAT - Mattel, Inc. $18.02 -0.78 (+0.32)

Mattel Inc. ran into some selling pressure on Thursday after hitting a 52-week high of $19.05 earlier in the week. Shares of MAT traded to an intra-day low of $17.55, breaching the 20-dma for the first time since March 5th. However, the stock bounced back to a close of $18.02 on volume 2.42 million shares. MAT was not able to close above the $19 mark, so the stock may fall back into its previous $17.50-$18.50 trading range. However, Thursday's action came on weaker volume, so the reversal could end up being nothing more than a quick round of profit taking. Going forward, support has fallen to Tuesday's intra-day low of $17.85 with stronger support at $17.68, the 20-dma. Resistance is now down to Thursday's intra-day high of $18.60 and then Wednesday's intra-day high of $19. A bounce off of $17.85 or a move above $18.60 on midday volume of at least 1.5 million shares may be possible entry points. Our stops remain at $17.

Picked on March 15th @ $18.55
Change since picked -0.53
Stop Loss @ $17.00
Interactive Chart Quote News First Call on MAT

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