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Play Updates

In Play Updates and Reviews

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Long Play Updates

Archstone-Smith - ASN - close: 35.87 chg: -0.10 stop: 34.85

We remain on the sidelines waiting for ASN to confirm the bullish breakout. Our trigger to go long is $36.26. 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

Biomet - BMET - close: 38.155 chg: -0.40 stop: 39.51

There are no changes from our previous update on 05/02/05. Our trigger to go short is at $37.45. More conservative traders may want to wait for a drop under $37.00 instead. Our target is the $33.00-32.00 range. Our time frame is six-to-eight weeks.

Picked on May xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 03/22/05 (confirmed)
Average Daily Volume: 2.4 million

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Broadcom - BRCM - close: 30.15 chg: +0.52 stop: 31.11

BRCM remains under technical resistance at the 200-dma near $30.50. 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: + 0.25
Earnings Date 04/21/05 (confirmed)
Average Daily Volume: 7.9 million

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Boston Scientific - BSX - cls: 29.84 chg: +0.48 stop: 31.51

BSX produced a decent bounce today but the rally failed to breakout over the $30.00 level. Plus, BSX has technical resistance at its 50-dma near $30.20. No changes from our previous update on 05/01/05.

Picked on April 19 at $29.05
Change since picked: + 0.79
Earnings Date 04/19/05 (confirmed)
Average Daily Volume: 5.4 million

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Novellus - NVLS - close: 23.63 change: +0.02 stop: 25.01

The markets went sideways today waiting for the FOMC announcement. Shares of NVLS followed suit with a sideways session. We remain bearish. No changes from our previous update on 05/01/05.

Picked on April 29 at $23.40
Change since picked: + 0.23
Earnings Date 04/18/05 (confirmed)
Average Daily Volume: 4.0 million

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Catalina Mktg - POS - close: 24.43 chg: -0.16 stop: 25.25

There was no follow through on Monday's rally in POS and resistance at the exponential 200-dma is holding. We see no changes from our previous update on 05/02/05.

Picked on April 22 at $23.80
Change since picked: + 0.63
Earnings Date 05/18/05 (unconfirmed)
Average Daily Volume: 468 thousand

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Westlake Chem. - WLK - close: 26.95 chg: +0.41 stop: 28.01

WLK's 1.5 percent rally today looks like an oversold bounce. The stock remains in its downtrend. We would look for short-term resistance near $27.50. The last few days we've been suggesting that more conservative traders exit early for a profit. That suggestion is still valid. In the news WLK filed to sell up to $750 million in debt. We see no change from our previous update on 05/01/05.

Picked on April 08 at $29.19
Change since picked: - 2.24
Earnings Date 05/04/05 (confirmed)
Average Daily Volume: 207 thousand
 

Closed Long Plays

None
 

Closed Short Plays

Sina Corp - SINA - close: 28.95 chg: +1.61 stop: 28.52

Bears appeared to panic yet again on rumors that SINA would be bought by Shanda Interactive (SNDA). The rally today hit our stop loss at $28.52 closing the play. The move also pushed SINA above technical resistance at the 200-dma. We are stopped out at breakeven. Don't forget that SINA is due to report earnings on May 5th and we do not suggest holding over the report.

Picked on April 13 at $28.52
Change since picked: + 0.43
Earnings Date 05/05/05 (confirmed)
Average Daily Volume: 3.5 million
 

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