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Long Play Updates

Northfield Labs - NFLD - close: 14.60 chg: -0.42 stop: 14.14

It's time to go to yellow alert. NFLD did not participate in the market bounce today. Furthermore the technical oscillators are starting to look vulnerable. The lack of a bounce in the BTK biotech index doesn't help. We realize that we labeled NFLD a higher-risk aggressive play but traders may want to consider exiting early right here. We certainly would not be considering new bullish positions. Yesterday we suggested that an aggressive player might consider going long on a bounce from the $14.50 level. That's exactly where NFLD dipped to today but the bounce was very anemic.

Picked on April 25 at $15.39
Change since picked: - 0.79
Earnings Date 04/11/05 (confirmed)
Average Daily Volume: 471 thousand
 

Short Play Updates

Boston Scientific - BSX - cls: 29.37 chg: +0.26 stop: 31.51

There was a small press release today about BSX's carotid stent trial meeting its goals but we don't see it affecting the stock price any further. No change from our previous update on 04/26/05 and 04/24/05.

Picked on April 19 at $29.05
Change since picked: + 0.32
Earnings Date 04/19/05 (confirmed)
Average Daily Volume: 5.4 million

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Greenbrier Co - GBX - close: 30.91 chg: -0.59 stop: 34.25

More good news. GBX has continued to sink and closed under what looked like minor support at the $31.00 level today. Shares are under their 40 and 100-dma's but testing the 50-dma. Our target remains the $30.00-28.00 range so prepare to exit.

Picked on April 11 at $33.20
Change since picked: - 2.29
Earnings Date 03/30/05 (confirmed)
Average Daily Volume: 123 thousand

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Lowes Companies - LOW - cls: 52.28 change: +0.18 stop: 54.01

Shares of LOW continue to struggle with resistance near $53.00. At the moment we can't tell if LOW is trying to build a base of support or a faintly sloping bear flag pattern. The technical oscillators are helping at the moment but we remain bearish and continue to target the $51.00-50.00 range. We would probably not consider new positions at this time.

Picked on April 10 at $54.81
Change since picked: - 2.53
Earnings Date 05/16/05 (unconfirmed)
Average Daily Volume: 3.0 million

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Catalina Mktg - POS - close: 23.16 chg: -0.19 stop: 25.25

No change from our previous update on 04/24/05 although the stock does look a bit oversold and due for a bounce. Look for the $24 level to act as new short-term resistance. Our target remains $21.25-21.00.

Picked on April 22 at $23.80
Change since picked: - 0.64
Earnings Date 05/18/05 (unconfirmed)
Average Daily Volume: 468 thousand

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Sina Corp - SINA - close: 26.08 chg: +0.27 stop: 28.61

SINA did manage a minor bounce today. The positive earnings news from NTES must have overpowered the negative earnings news from AMZN. We remain bearish and continue to target the $25 level. However, if SINA does produce an oversold bounce then look for resistance near $28.00.

Picked on April 13 at $28.52
Change since picked: - 2.44
Earnings Date 05/05/05 (confirmed)
Average Daily Volume: 3.5 million

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Westlake Chem. - WLK - close: 27.00 chg: -0.55 stop: 30.01

No change from our previous update on 04/25/05. WLK continues to sink and has closed at a new relative low. Our target is $25.50-25.00.

Picked on April 08 at $29.19
Change since picked: - 2.19
Earnings Date 05/04/05 (confirmed)
Average Daily Volume: 207 thousand
 

Closed Long Plays

None
 

Closed Short Plays

BEA Systems - BEAS - close: 7.05 chg: -0.17 stop: 7.71

Target achieved. It was another tough day for shares of BEAS. The stock dipped to the $7.00 level and then traded to $6.99 before bouncing. Our target was the $7.00 level so we are closing the play. The move was probably fueled partly by news that a broker-analyst firm had dropped coverage on BEAS. Some firms will choose to just drop coverage on a stock instead of issuing a sell rating.

Picked on April 15 at $ 7.68
Change since picked: - 0.63
Earnings Date 05/18/05 (unconfirmed)
Average Daily Volume: 7.6 million

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Flextronics - FLEX - close: 10.94 chg: -0.12 stop: 11.76

Semiconductor stocks struggled a bit today after one company's lackluster earnings report. Shares of FLEX lost another 1.08 percent to close under the $11.00 level. We are closing the play per our previous instructions to avoid holding over FLEX's earnings report due out tomorrow. Wall Street is looking for earnings of 16 cents a share.

Picked on March 16 at $11.95
Change since picked: - 1.01
Earnings Date 04/28/05 (confirmed)
Average Daily Volume: 5.5 million

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West Marine - WMAR - close: 19.40 chg: -0.48 stop: 20.75

Target achieved. Investors appeared to lose confidence in WMAR just one day ahead of its earnings report due out tomorrow. We had planned to close the play this afternoon to avoid holding over the report. However, today's weakness sent WMAR past our target/exit point at $19.50.

Picked on March 17 at $21.20
Change since picked: - 1.80
Earnings Date 04/28/05 (confirmed)
Average Daily Volume: 155 thousand
 

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