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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
Change since picked: + 0.00
Earnings Date 04/26/05 (confirmed)
Average Daily Volume: 811 thousand
 

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
Change since picked: - 0.27
Earnings Date 04/21/05 (confirmed)
Average Daily Volume: 7.9 million

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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
Change since picked: + 0.31
Earnings Date 04/19/05 (confirmed)
Average Daily Volume: 5.4 million

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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 $23.40
Change since picked: + 0.21
Earnings Date 04/18/05 (confirmed)
Average Daily Volume: 4.0 million

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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
Change since picked: + 0.79
Earnings Date 05/18/05 (unconfirmed)
Average Daily Volume: 468 thousand

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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
Change since picked: - 1.18
Earnings Date 05/05/05 (confirmed)
Average Daily Volume: 3.5 million

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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
Change since picked: - 2.65
Earnings Date 05/04/05 (confirmed)
Average Daily Volume: 207 thousand
 

Closed Long Plays

None
 

Closed Short Plays

None

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