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Long Play Updates

CB Richard Ellis - CBG - cls: 36.90 chg: -0.10 stop: 35.39

We didn't have to wait very long for CBG to breakout over the $37.00 level. The stock quickly hit our entry point at $37.11 this morning. Actually, the stock gapped open ABOVE our entry point to $37.15 so we have to adjust our entry to this morning's open. While it's unfortunate that CBG didn't maintain its midday gains the trend remains intact.


 

Picked on March 07 at $37.15
Change since picked: - 0.21
Earnings Date 02/02/05 (confirmed)
Average Daily Volume: 466 thousand

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Catellus Dev. REIT - CDX - close: 28.79 chg: +0.34 stop: 27.15

Our new play in CDX also quickly hit our trigger to go long at $28.76. We are suggesting bullish positions here and out target is $30.50-31.00.


 

Picked on March 07 at $28.76
Change since picked: + 0.03
Earnings Date 02/25/05 (confirmed)
Average Daily Volume: 397 thousand

Short Play Updates

None today

Closed Long PLays

Agilysys - AGYS - close: 19.95 chg: +0.12 stop: 18.49

Target achieved. This morning AGYS experienced enough strength to trade over the $20.00 level but then faded into the early afternoon. Then surprisingly the stock shot up again late in the afternoon and hit a new higher high at $20.08 on rising volume. We're going to close the play out at the bottom edge of our target at $20.00 but more aggressive players might want to consider tightening their stops and letting the stock keep running.


 

Picked on February 16 at $18.39
Change since picked: + 1.56
Earnings Date 02/09/05 (confirmed)
Average Daily Volume: 197 thousand

Closed Short Plays

Cisco Systems - CSCO - close: 18.24 chg: +0.20 stop: 18.26

The rebound continues for CSCO and the stock has broken out above technical resistance at its 50-dma but not above price resistance at $18.50. Today's spike higher was boosted by a Barron's article suggesting that CSCO could almost be considered a "value" play in the technology sector. Our stop loss was $18.26 but CSCO opened at $18.28 immediately closing our play.


 

Picked on February 20 at $17.30
Gain since picked: + 0.94
Earnings Date 01/27/05 (confirmed)
Average Daily Volume: 61.1 million

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IAC/InterActiveCorp - IACI - close: 23.31 chg: +1.03 stop: 24.51

Reversal alert! We are cutting our losses here in IACI. The stock has not yet broken through resistance at the $24.00 level nor has the NASDAQ broken through resistance at the 2100 level. However, if the NASDAQ does decide to catch up to the Industrials and S&P 500 then IACI could become a target for tech investors looking to do some bargain shopping. We'll exit here.


 

Picked on February 22 at $21.95
Change since picked: + 1.36
Earnings Date 02/16/05 (unconfirmed)
Average Daily Volume: 4.4 million

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