Stockscom Alert

 There is serious weakness in equities with today's sharp move down. The Dow Jones and S&P cash indexes managed gains however their contracts in the futures markets remained lower plus overnight trading has Nasdaq and the S&P almost certainly gapping down in the morning. With that in mind, we would like to repeat and modify some of the stops currently on recommended shares. Explanations follow.

   

Date of Entry	Name	Symbol	Entry Price	Current Price	Stop	Action Rating
09/29/03	AES	AES	7.50	8.03		H
10/06/03	Align Tech	ALGN	13.46	15.21	12.00	H
08/25/03	Bema Gold	BGO #	2.15	2.93	unstopped	B
09/29/03	China Unicom	CHU	8.18	9.17	7.60	H
10/06/03	Citrix	CTXS	24.31	25.76	23.17 *	H
05/12/03	Cott Corp	COT #	20.02	26.50	22.98	H
10/06/03	CP Ships	TEU #	21.49	22.27	20.00	H
10/06/03	Digital River	DRIV	29.88	31.65	28.97 *	SOLD
09/08/03	Sapient	SAPE	3.72	5.14	4.75	H
04/28/03	TransCanada Pipe	TRP #	15.85	19.67	19.42	B

 

·       Stop on a closing basis

 

ALGN - seems to have used this drop to retrace recent gains however the 25-day moving avg currently just above $12.00 has held support in the past and the 40-day moving avg is too far below to use at $6.23

CHU - serious gap down today however there is solid resistance at the $7.60 level which should provide support.

CTXS - strong support around $20 via the 40-week moving avg. We prefer to keep the stop "as is" though and re-initiate the trade later if we are exited.

TEU - initiate stop at 20.00 but wouldn't expect it to be taken out.

DRIV - Sold today

SAPE - at the open there was a large gap down and after hours, they released their financial results. Though they managed to make a profit, it was due to extraordinary items and revenues are hardly growing so the only profits they're managing are through cost cutting. We move the stop in tight as a consequence since we see no reason why the selling won't continue tomorrow.

TRP - changed stop to reflect new reality