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Long Play Updates

Archstone-Smith - ASN - close: 36.00 chg: -0.89 stop: 34.85

ASN was unable to withstand the market's decline today and fell back toward the $36.00 level. We would not suggest new bullish plays at this time. No change from our previous updates on 05/09/05 and 05/08/05.

Picked on May 06 at $36.26
Change since picked: - 0.26
Earnings Date 04/26/05 (confirmed)
Average Daily Volume: 811 thousand

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Brookfield Homes - BHS - close: 45.42 chg: -1.56 stop: 42.45

After hitting a new all-time high on Tuesday a little bit of profit taking during a market-wide decline is not a surprise. The stock pulled back toward broken resistance now new support at the $45.00 level. Watch for a bounce as a new bullish entry point but keep an eye on the DJUSHB home construction index. If the DJUSHB continues sliding then we expect BHS to follow lower. More conservative traders may want to consider tightening their stop losses.

Picked on May 05 at $45.05
Change since picked: + 0.37
Earnings Date 05/02/05 (confirmed)
Average Daily Volume: 100 thousand

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Caremark - CMX - close: 43.53 chg: +0.34 stop: 40.95

CMX displayed relative strength today with a gap higher at the open and a bounce off its midday low. We see no change from our previous update on 05/11/05.

Picked on May 09 at $43.30
Change since picked: + 0.23
Earnings Date 05/03/05 (confirmed)
Average Daily Volume: 2.6 million

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First Bancorp - FBP - close: 39.54 chg: -0.49 stop: 37.95 *new*

We feel that FBP is holding up pretty well considering the weakness today in the major indices and the financial sectors. Yet it might be prudent to consider tightening your stop loss. More conservative traders could even set theirs under the $39.00 level, which seems to be short-term support. We are not suggesting new bullish plays at this time. We are going to raise our stop to $37.95.

Picked on May 05 at $40.37
Change since picked: - 0.83
Earnings Date 04/19/05 (confirmed)
Average Daily Volume: 280 thousand

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Greenhill & Co - GHL - close: 35.21 chg: -0.40 stop: 32.49

GHL has been somewhat resilient considering the market's weakness today. Shares traded higher this morning and then faded back toward the $35.00 level. We see no change from our previous update on 05/10/05.

Picked on May 09 at $34.11
Change since picked: + 1.10
Earnings Date 04/21/05 (confirmed)
Average Daily Volume: 70 thousand

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Humana - HUM - close: 35.89 chg: -0.59 stop: 32.95

We would watch this profit taking in HUM for a new entry point. More specifically a dip toward the 10-dma (35.40) or to the $35.00 level could be used as a new bullish entry.

Picked on May 09 at $36.33
Change since picked: - 0.44
Earnings Date 05/02/05 (confirmed)
Average Daily Volume: 1.3 million
 

Short Play Updates

Ball Corp - BLL - close: 37.40 chg: -1.50 stop: 41.01

That's what bears like to see! BLL spiked higher at the open but the rally failed under the $40.00 level and quickly reversed course. The whole session produced a big bearish engulfing candlestick pattern. Volume was well above average. Plus, the MACD produced a new sell signal. We're lowering the stop loss to $40.05.

Picked on May 05 at $38.98
Change since picked: - 1.58
Earnings Date 04/28/05 (confirmed)
Average Daily Volume: 611 thousand

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Biomet - BMET - close: 36.47 chg: -0.93 stop: 39.51

BMET is right on track with another decline (-2.4 percent) after being triggered on Tuesday. No change from our previous update on 05/10/05. Our target is the $33-32 range. In the news there was a Reuters article discussing a new Senate bill that could seriously impact the medical equipment makers like BMET. The "Hospital Fair Competition Act of 2005", if approved, could drive down prices for a number of medical devices.

Picked on May 10 at $37.45
Change since picked: - 0.98
Earnings Date 03/22/05 (confirmed)
Average Daily Volume: 2.4 million

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Novellus - NVLS - close: 23.86 change: -0.10 stop: 25.01

NVLS rallied toward resistance near the $24.50 region but failed. This may prove to be a new bearish entry point but we suggest waiting for NVLS to trade back under the $23.50 mark.

Picked on April 29 at $23.40
Change since picked: + 0.46
Earnings Date 04/18/05 (confirmed)
Average Daily Volume: 4.0 million

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Catalina Mktg - POS - close: 23.39 chg: -0.25 stop: 25.25

No change from our previous update on 05/11/05.

Picked on April 22 at $23.80
Change since picked: - 0.41
Earnings Date 05/18/05 (unconfirmed)
Average Daily Volume: 468 thousand

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UST Inc - UST - close: 43.68 change: +0.39 stop: 46.01

No change from our previous update on 05/10/05.

Picked on May 10 at $44.12
Change since picked: - 0.44
Earnings Date 04/26/05 (confirmed)
Average Daily Volume: 1.0 million
 

Closed Long Plays

None
 

Closed Short Plays

None

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