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Long Play Updates

Archstone-Smith - ASN - close: 35.92 chg: +0.17 stop: 34.85

No change from our previous update on 05/16/05. We would not consider new bullish positions until ASN traded above $36.00 or $36.25. More conservative traders may want to consider a stop loss under Friday's low.

Picked on May 06 at $36.26
Change since picked: - 0.34
Earnings Date 04/26/05 (confirmed)
Average Daily Volume: 811 thousand

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Brookfield Homes - BHS - close: 46.10 chg: +0.18 stop: 42.95*new*

A report out today stated that construction of new homes rose 11 percent in April. This was above economists' expectations. Considering the news we're surprised that the home building sector did not rally more strongly. Earlier in the session BHS saw some profit taking after Monday's big rally but traders stepped in to buy the dip near the $45.00 level. We still see this as a new bullish entry point. Our target is the $50 region. We're going to raise the stop loss to $42.95.

Picked on May 05 at $45.05
Change since picked: + 1.05
Earnings Date 05/02/05 (confirmed)
Average Daily Volume: 100 thousand

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Caremark - CMX - close: 44.62 chg: +0.43 stop: 40.95

CMX produced some headlines today with a $500 million increase in its stock buy back program. Management has now set the limit to $1.25 billion. The stock responded with another new high. Looking at the intraday chart readers can see that traders were buying dips toward the $44.00 level. Our target is the $47-48 range. 

Picked on May 09 at $43.30
Change since picked: + 1.32
Earnings Date 05/03/05 (confirmed)
Average Daily Volume: 2.6 million 

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First Bancorp - FBP - close: 40.64 chg: -0.41 stop: 38.49 

No change from our previous update on 05/16/05.

Picked on May 05 at $40.37
Change since picked: + 0.27
Earnings Date 04/19/05 (confirmed)
Average Daily Volume: 280 thousand

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Greenhill & Co - GHL - close: 35.09 chg: -0.16 stop: 33.40 

GHL's lack of participation in today's broad market rally could be a concern. If GHL surprises us with a decline we would watch for shares to bounce from support in the $34.00-34.25 region. 

Picked on May 09 at $34.11
Change since picked: + 0.98
Earnings Date 04/21/05 (confirmed)
Average Daily Volume: 70 thousand

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Humana - HUM - close: 35.78 chg: +0.31 stop: 32.95

Traders were buying the dips toward the $35.00 level all day in HUM. We see HUM at these (current) levels as a new bullish entry point.

Picked on May 09 at $36.33
Change since picked: - 0.55
Earnings Date 05/02/05 (confirmed)
Average Daily Volume: 1.3 million 

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Motorola - MOT - close: 16.42 change: +0.18 stop: 15.45

MOT got some positive press today. One analyst upgraded the stock to an out perform while another reiterated their out perform and raised their earnings estimates for MOT. The second analyst also expects MOT to announce stock buy backs in the near future. We like how traders bought the dip toward the $16 level today and continue to see MOT at current levels as offering a bullish entry point.

Picked on May 15 at $16.21
Change since picked: + 0.21
Earnings Date 04/20/05 (confirmed)
Average Daily Volume: 13.2 million 

Short Play Updates

A.S.V.Inc. - ASVI - close: 34.30 change: -0.49 stop: 35.31

ASVI's relative weakness today is good news and the stock looks poised to breakdown under the $34.00 level. We are still waiting for ASVI to trade under short-term support at the $34.00 level and hit our trigger at $33.99. 

Picked on May xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 04/28/05 (confirmed)
Average Daily Volume: 122 thousand

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Ball Corp - BLL - close: 37.15 chg: -0.10 stop: 40.05 

No change from previous update on 05/15/05. We are expecting a bounce back toward the $38 level, which should act as resistance.

Picked on May 05 at $38.98
Change since picked: - 1.83
Earnings Date 04/28/05 (confirmed)
Average Daily Volume: 611 thousand

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Biomet - BMET - close: 37.85 chg: +0.36 stop: 39.01 

BMET is bumping up against the top of its descending channel. No change from previous update on 05/15/05. Watch for a failed rally under $38.00 as a new bearish entry point.

Picked on May 10 at $37.45
Change since picked: + 0.40
Earnings Date 03/22/05 (confirmed)
Average Daily Volume: 2.4 million 

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Liz Claiborne - LIZ - close: 37.79 change: +0.49 stop: 38.25

A strong day for the retail sector, spurred by a string of strong earnings reports, helped fuel a bounce in LIZ. The stock is now testing what should be resistance in the $38.00 region. We would not suggest new bearish entry points until LIZ trades under the $37.00 level but more aggressive traders can watch for a failed rally under $38.00.

Picked on May 15 at $37.14
Change since picked: + 0.65
Earnings Date 04/28/05 (confirmed)
Average Daily Volume: 718 thousand

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Mylan Labs - MYL - close: 15.50 change: -0.23 stop: 16.51

The sell-off in MYL is picking up speed. This is good news since we were worried that MYL's decline would be a very slow one. Shares lost 1.4 percent on volume about double the average today, which normally suggests more weakness ahead. Short-term don't be surprised to see an oversold bounce before MYL trades lower. Traders can use a failed rally under $16.00 as a new bearish entry point. 

Picked on May 16 at $15.85
Change since picked: - 0.35
Earnings Date 05/12/05 (confirmed)
Average Daily Volume: 1.6 million

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Catalina Mktg - POS - close: 24.43 chg: +0.02 stop: 24.85 

No change from our previous update on 05/16/05.

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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UST Inc - UST - close: 43.87 change: -0.14 stop: 46.01

No change from our previous update on 05/15/05.

Picked on May 10 at $44.12
Change since picked: - 0.25
Earnings Date 04/26/05 (confirmed)
Average Daily Volume: 1.0 million 

Closed Long Plays

None

Closed Short Plays

None

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