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Long Play Updates

Northfield Labs - NFLD - close: 15.02 chg: -0.37 stop: 14.14

NFLD tried to rally this morning but by lunchtime the momentum had reversed. It didn't help that one broker started coverage on NFLD with a "neutral" rating and a $12 target. The bearish-reversal looking action in the BTK biotech index is also discouraging. Bullish traders in NFLD should be careful. The stock closed back under its simple 200-dma. At this time we would hesitate to open any new bullish positions although a bounce at the $14.50 level might work for more aggressive players.

Picked on April 25 at $15.39
Change since picked: - 0.37
Earnings Date 04/11/05 (confirmed)
Average Daily Volume: 471 thousand
 

Short Play Updates

BEA Systems - BEAS - close: 7.22 chg: +0.02 stop: 7.71

No change from our previous update on 04/24/05. Our target remains the $7.00 level. Keep an eye on the GSO software index which is failing under its 200-dma.

Picked on April 15 at $ 7.68
Change since picked: - 0.46
Earnings Date 05/18/05 (unconfirmed)
Average Daily Volume: 7.6 million

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Boston Scientific - BSX - cls: 29.11 chg: -0.49 stop: 31.51

After three days of an oversold bounce shares of BSX are beginning to roll over under the $30.00 level. Today's decline looks like a new bearish entry point.

Picked on April 19 at $29.05
Change since picked: + 0.06
Earnings Date 04/19/05 (confirmed)
Average Daily Volume: 5.4 million

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Flextronics - FLEX - close: 11.06 chg: -0.23 stop: 11.76

Prepare to exit. Per our previously discussed strategy we plan to close this bearish play on FLEX tomorrow (Wednesday) afternoon at the close. This will allow us to avoid any surprises from FLEX's earnings report due out on Thursday.

Picked on March 16 at $11.95
Change since picked: - 0.89
Earnings Date 04/28/05 (confirmed)
Average Daily Volume: 5.5 million

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Greenbrier Co - GBX - close: 31.50 chg: -1.30 stop: 34.25

Good news! GBX lost 3.96 percent today to completely erase Monday's gains. Weakness in the broader indices and a rollover in the Dow Transportation index helped out the bears today. It also helped that GBX issued plans to sell $175 million in notes. Our target remains the $30.00-28.00 range.

Picked on April 11 at $33.20
Change since picked: - 1.70
Earnings Date 03/30/05 (confirmed)
Average Daily Volume: 123 thousand

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Lowes Companies - LOW - cls: 52.10 change: +0.07 stop: 54.01

No change from our previous update on 04/24/05. Our target remains $51.00-50.00.

Picked on April 10 at $54.81
Change since picked: - 2.71
Earnings Date 05/16/05 (unconfirmed)
Average Daily Volume: 3.0 million

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Catalina Mktg - POS - close: 23.35 chg: -0.63 stop: 25.25

No change from our previous update on 04/24/05. Our target remains $21.25-21.00.

Picked on April 22 at $23.80
Change since picked: - 0.45
Earnings Date 05/18/05 (unconfirmed)
Average Daily Volume: 468 thousand

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Sina Corp - SINA - close: 25.81 chg: -0.62 stop: 28.61

SINA continues to sink and the stock is nearing our target at the $25.00 level. More conservative traders may want to exit early. After the bell NetEase (NTES) turned in a better than expected earnings report. This sent shares of SINA higher after hours but the stock (SINA) was trading around $25.94 at the time of this update.

Picked on April 13 at $28.52
Change since picked: - 2.71
Earnings Date 05/05/05 (confirmed)
Average Daily Volume: 3.5 million

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Westlake Chem. - WLK - close: 27.55 chg: -0.48 stop: 30.01

No change from our previous update on 04/25/05.

Picked on April 08 at $29.19
Change since picked: - 1.64
Earnings Date 05/04/05 (confirmed)
Average Daily Volume: 207 thousand

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West Marine - WMAR - close: 19.88 chg: -0.30 stop: 20.75

Prepare to exit. Per our previously discussed strategy we plan to close this bearish play on WMAR tomorrow (Wednesday) afternoon at the close. This will allow us to avoid any surprises from WMAR's earnings report due out on Thursday. Don't forget that our current target is only $19.50 and if WMAR trades to $19.50 tomorrow that's where we'll exit instead of at the close. The stock almost hit our target today.

Picked on March 17 at $21.20
Change since picked: - 1.32
Earnings Date 04/28/05 (confirmed)
Average Daily Volume: 155 thousand
 

Closed Long Plays

Electro Sci. Ind. - ESIO - close: 16.84 chg: -0.41 stop: 16.79

Our bounce-from-support play has lost its bounce. The failed rally at the $18.00 level has turned into a true reversal. Today's market weakness helped pull ESIO under its recent lows and the stock hit our stop loss at $16.79. Looking at the major averages today it could be tough going for bulls this week.

Picked on April 21 at $17.93
Change since picked: - 1.09
Earnings Date 03/22/05 (confirmed)
Average Daily Volume: 181 thousand

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The South Fincl Group - TSFG - cls: 26.51 chg: -0.54 stop: 26.05

Yesterday we listed TSFG as a new bullish candidate but suggested that if the bounce falters too much we'll jump ship. That's exactly what we're doing. There was no follow through to Monday's bullish engulfing bullish reversal pattern. Instead TSFG lost almost two percent during today's session. The action in the broader indices doesn't help matters here if you're a bull. We're closing the play early.

Picked on April 25 at $27.05
Change since picked: - 0.54
Earnings Date 04/18/05 (confirmed)
Average Daily Volume: 291 thousand
 

Closed Short Plays

XM Satellite Radio - XMSR - cls: 27.60 chg: +0.20 stop: 30.01

Time has run out. Per our previous update (April 17th) we are closing XMSR ahead of its April 27th earnings report. Wall Street is looking for a net loss of 69 cents a share. For anyone brave enough to hold over the report expect some volatility tomorrow. This morning Goldman Sachs cautioned investors on XMSR suggesting that the company's subscriber estimates are too high. Another analysts was focused on subscriber acquisition costs and worried that these costs may be rising faster than expected for XMSR.

Picked on April 10 at $30.67
Change since picked: - 3.07
Earnings Date 04/27/05 (confirmed)
Average Daily Volume: 5.2 million
 

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