Long Play Updates
Archstone-Smith - ASN - close: 35.87 chg: -0.10 stop: 34.85
Almost but not quite enough. ASN traded to a high of $36.22 this morning but that was not enough to hit our trigger/entry point at $36.26. We remain on the sidelines waiting for ASN to confirm the bullish breakout. No changes from our previous update on 05/01/05.
Picked on May xx at $xx.xx <-- see TRIGGER
Short Play Updates
Broadcom - BRCM - close: 29.63 chg: -0.27 stop: 31.11
Semiconductor stocks appeared to be a drag on any sort of bounce in the tech sector today. The SOX index closed fractionally in the red with BRCM helping lead the way lower. We see no changes from our previous update on 05/01/05. Our target remains the $27-26 range.
Picked on April 27 at $29.90
Boston Scientific - BSX - cls: 29.36 chg: -0.22 stop: 31.51
No changes from our previous update on 05/01/05.
Picked on April 19 at $29.05
Novellus - NVLS - close: 23.61 change: +0.18 stop: 25.01
NVLS was upgraded to a neutral this morning but any strength failed under the $24.00 level. We remain bearish. No changes from our previous update on 05/01/05.
Picked on April 29 at
Catalina Mktg - POS - close: 24.59 chg: +1.34 stop: 25.25
Wow! It looks like traders overreacted a bit after POS announced it had won an advertising deal with Wal-Greens (WAG). The stock ended the day up 5.7 percent after testing overhead resistance at its exponential 200-dma near $24.85. We remain bearish but the big volume on today's rally is a cause for concern. Thus we're not suggesting new bearish entries at this time. Readers can double-check their stop losses and watch POS carefully for any signs of a breakout above the $25.00 mark.
Picked on April 22 at $23.80
Sina Corp - SINA - close: 27.34 chg: -0.13 stop: 28.52
No change from our previous update on 05/01/05. Remember that time is running out before we exit ahead of SINA's earnings report.
Picked on April 13 at $28.52
Westlake Chem. - WLK - close: 26.54 chg: +0.29 stop: 28.01
No change from our previous update on 05/01/05.
Picked on April 08 at $29.19
Closed Long Plays
Closed Short Plays