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Long Play Updates

Archstone-Smith - ASN - close: 35.98 chg: +0.19 stop: 34.85

Shares of ASN continue to inch higher and the stock looks poised to produce a bullish breakout over resistance. Our trigger to go long is at $36.26.

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

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Brookfield Homes - BHS - close: 46.20 chg: +1.46 stop: 42.45

Ding! We have been triggered in BHS. Shares of BHS gapped higher to open at $45.00 and the stock very quickly traded at our entry point of $45.05. Shares traded to a high of $47.60 before pulling back toward the $46 level this afternoon. Volume was very heavy at over three times the average day volume and this suggests more strength ahead. It's not uncommon for a stock to pull back and retest broken resistance as new support. Therefore if you missed today's entry point one could wait for a pull back toward the $45.00-45.50 range and buy a bounce. Our target is the $50.00 level.

Picked on May 05 at $45.05
Change since picked: + 1.41
Earnings Date 05/02/05 (confirmed)
Average Daily Volume: 100 thousand
 

Short Play Updates

Biomet - BMET - close: 38.58 chg: -0.63 stop: 39.51

Good news! There was no follow through on BMET's rally yesterday and the stock remains in its descending channel. Our entry point to short the stock is at $37.45.

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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Boston Scientific - BSX - cls: 29.50 chg: +0.14 stop: 31.51

BSX continues to consolidate sideways under its trend of lower highs. No changes from our previous update on 05/01/05.

Picked on April 19 at $29.05
Change since picked: + 0.45
Earnings Date 04/19/05 (confirmed)
Average Daily Volume: 5.4 million

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Novellus - NVLS - close: 23.90 change: -0.29 stop: 25.01

It was a very sideways session for the SOX semiconductor index but that didn't stop NVLS from trading lower near the opening bell on Thursday. No changes from our previous updates on 05/04/05 and 05/01/05.

Picked on April 29 at $23.40
Change since picked: + 0.50
Earnings Date 04/18/05 (confirmed)
Average Daily Volume: 4.0 million

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Catalina Mktg - POS - close: 24.17 chg: -0.62 stop: 25.25

POS is beginning to show weakness again after failing to breakout over the $25.00 level. A drop back under today's low near $24.90 could be used as a new bearish entry point.

Picked on April 22 at $23.80
Change since picked: + 0.37
Earnings Date 05/18/05 (unconfirmed)
Average Daily Volume: 468 thousand
 

Closed Long Plays

None
 

Closed Short Plays

None

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