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Vertex Pharma - VRTX - close: 22.13 change: +1.34 stop: 20.29

Company Description:
Vertex Pharmaceuticals Incorporated is a global biotechnology company committed to the discovery and development of breakthrough small molecule drugs for serious diseases. The Company's strategy is to commercialize its products both independently and in collaboration with major pharmaceutical companies. Vertex's product pipeline is principally focused on viral diseases, inflammation, autoimmune diseases and cancer. In collaboration with GlaxoSmithKline, Vertex co-promotes the HIV protease inhibitor, Lexiva. (source: company press release or website)

Why We Like It:
If you're looking for a little excitement from your bullish candidates then VRTX might fit the bill. The stock has been very volatile over the last couple of weeks but the bullish trend remains intact. The company has garnered a lot of positive analysts comments over the last few weeks after releasing some positive press for some of its drugs in their pipeline. We see the bounce from the $20.00 level as a new bullish but aggressive entry point. Volume on today's rebound came in way above normal. We'll suggest new plays here above the $22 mark. However, if VRTX fails to produce any follow through on today's bullish rebound we may choose to quickly exit the play. Don't get married to your position. Our target is the $25.50-26.00 range. We plan to exit ahead of the company's October 26th earnings report.

Picked on October 13 at $22.13
Change since picked: + 0.00
Earnings Date 10/26/05 (unconfirmed)
Average Daily Volume: 1.4 million
 

New Short Plays

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In Play Updates and Reviews

Long Play Updates

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Short Play Updates

Career Educ. - CECO - close: 33.84 chg: +0.35 stop: 36.51

CECO is testing resistance at its descending simple 10-dma (again). We see no changes from our previous update. However, if CECO trades above the $35.00 level more conservative traders may want to exit early! Our target is the $31.00 level.

Picked on October 04 at $34.99
Change since picked: - 1.15
Earnings Date 10/26/05 (unconfirmed)
Average Daily Volume: 1.6 million

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Cree Inc. - CREE - close: 22.15 chg: +0.07 stop: 24.01

The SOX semiconductor index managed a strong bounce from its 200-dma today. This helped power the NASDAQ into the green. Oddly enough shares of CREE failed to truly participate with the bounce in the sector. Watch for the $23 level to act as resistance. Don't forget that we plan to exit ahead of its October 20th earnings report.

Picked on October 11 at $22.99
Change since picked: - 0.84
Earnings Date 10/20/05 (confirmed)
Average Daily Volume: 1.3 million

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Corning Inc. - GLW - close: 17.70 chg: +0.16 stop: 20.01

GLW produced a bit of an oversold bounce today and tested short-term resistance near the $18.00 level today. We do not see any changes from our previous updates. Our target is the $16.50 level.

Picked on October 09 at $18.54
Change since picked: - 0.84
Earnings Date 10/26/05 (confirmed)
Average Daily Volume: 11.9 million

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99c Only Stores - NDN - close: 9.40 chg: +0.23 stop: 9.61

Heads up! This is a pivotal point for our play in NDN. The stock has bounced back to breakeven at the $9.40 level. Some of the short-term technical indicators are positive. If the markets and the RLX retail index rally tomorrow we would expect NDN to hit our stop loss at $9.61. More conservative traders may want to exit now or set their stop near the $9.50 mark.

Picked on September 27 at $ 9.40
Change since picked: - 0.00
Earnings Date 10/20/05 (unconfirmed)
Average Daily Volume: 581 thousand

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Trinity Ind. - TRN - close: 35.52 chg: +0.02 stop: 39.26

TRN dipped under its simple 100-dma today but it rebounded back into the green before the closing bell. Today's action looks like a short-term bottom. We expect the stock to bounce higher tomorrow and probably test the $37.00 level. It's certainly possible that TRN could rally back to resistance at its 50-dma near $38 before turning lower again. Our target is the $32.50-32.00 level near the simple 200-dma.

Picked on October 11 at $36.88
Change since picked: - 1.29
Earnings Date 10/31/05 (unconfirmed)
Average Daily Volume: 385 thousand
 

Closed Long Plays

None
 

Closed Short Plays

Toll Brothers - TOL - close: 37.50 chg: -0.09 stop: 42.51

Target achieved! Shares of TOL under performed many of its peers in the homebuilding sector. The stock dipped to $36.10 this morning before rebounding this afternoon. Our target was the $36.50-36.00 range.

Picked on October 05 at $40.95
Change since picked: - 3.45
Earnings Date 08/25/05 (confirmed)
Average Daily Volume: 4.6 million
 

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