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Long Play Updates

Catellus Dev. REIT - CDX - close: 27.95 chg: -0.45 stop: 27.15

Be careful here. CDX has broken down (barely) under the $28.00 level and its 50-dma. We would not suggest new bullish positions and current bulls should be defensive with their finger on the exit trigger.

Picked on March 07 at $28.76
Change since picked: - 0.81
Earnings Date 02/25/05 (confirmed)
Average Daily Volume: 397 thousand

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Cox Radio - CXR - close: 16.70 chg: -0.27 stop: 15.99

CXR is pulling back with the major averages. Watch for support near the $16.40-16.50 level.

Picked on March 01 at $16.53
Change since picked: + 0.17
Earnings Date 02/23/05 (confirmed)
Average Daily Volume: 334 thousand

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Valassis Comm. - VCI - close: 35.98 chg: -0.37 stop: 34.75

VCI is testing support at the $36.00 level and technically VCI has actually broken it at $35.98. Be careful here!

Picked on February 23 at $36.12
Gain since picked: - 0.14
Earnings Date 02/22/05 (confirmed)
Average Daily Volume: 337 thousand

Short Play Updates

Anheuser Busch - BUD - close: 47.34 chg: -0.13 stop: 50.11

No change from previous update.

Picked on February 7 at $48.32
Gain since picked: - 0.98
Earnings Date 02/02/05 (confirmed)
Average Daily Volume: 2.4 million

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Countrywide Financial - CFC - close: 32.98 chg: -0.73 stop: 35.01

No change from previous update.

Picked on March 09 at $33.36
Change since picked: - 0.38
Earnings Date 02/02/05 (confirmed)
Average Daily Volume: 3.8 million


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Flextronics - FLEX - close: 12.07 chg: -0.29 stop: 13.01

Another decline in tech stocks and the semiconductor sector helped push FLEX through the $12.00 level and confirm the recent breakdown. Shares fell 2.3 percent on volume well above its average. While we're not excited about FLEX's intraday bounce back above the $12.00 level but we are encouraged to see FLEX's P&F chart produce a new sell signal just as expected. The P&F chart now points to a $9.50 target. FLEX does look a little oversold here so a bounce back toward the $12.50 level would not be uncalled for. Traders can use a failed rally under $12.50 as a new entry point. Otherwise look for shares to turn lower instead.

Picked on March 16 at $11.95
Change since picked: + 0.12
Earnings Date 04/28/05 (unconfirmed)
Average Daily Volume: 5.5 million

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Nabi Biopharma - NABI - close: 12.10 chg: -0.11 stop: 13.11

No change from previous update.

Picked on March 06 at $11.80
Change since picked: + 0.30
Earnings Date 02/15/05 (confirmed)
Average Daily Volume: 436 thousand

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NY Times - NYT - close: 36.26 chg: -0.49 stop: 37.35

No change from previous update. Investors not responding to a press release today stating that NYT's February advertising revenues were up 3.1 percent compared to 2004.

Picked on February 20 at $37.20
Gain since picked: - 0.94
Earnings Date 01/25/05 (confirmed)
Average Daily Volume: 516 thousand


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ScanSource - SCSC - close: 56.23 chg: -0.53 stop: 62.01

No change from previous update.

Picked on March 13 at $ 57.58
Change since picked: - 1.35
Earnings Date 04/28/05 (unconfirmed)
Average Daily Volume = 95 thousand

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Energy Select Spdr - XLE - close: 42.65 chg: +0.14 stop: 45.15

No change from previous update.

Picked on March 09 at $43.33
Change since picked: - 0.68
Earnings Date 00/00/00 (unconfirmed)
Average Daily Volume: 4.1 million

Closed Long Plays

Benchmark Electronic - BHE - cls: 31.07 chg: -0.86 stop: 31.49

We are giving up on BHE. The current market environment is growing more bearish and BHE has broken down below its simple 200-dma. Since BHE never traded at or above our trigger we're closing the play unopened.

Picked on February xx at $xx.xx <-- see TRIGGER
Gain since picked: + 0.00
Earnings Date 02/08/05 (confirmed)
Average Daily Volume: 453 thousand

Closed Short Plays

None today.

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