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Long Play Updates

Archstone-Smith - ASN - close: 36.28 chg: +0.06 stop: 35.35 

No change from our previous update on 05/25/05.

Picked on May 06 at $36.26
Change since picked: + 0.02
Earnings Date 04/26/05 (confirmed)
Average Daily Volume: 811 thousand

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Brookfield Homes - BHS - close: 47.01 chg: +0.76 stop: 42.95 

We're a little surprised that shares of BHS did not trade more strongly today. The DJUSHB index added more than four percent after Toll Brothers (TOL) turned in a strong earnings report and guided higher. We're still concerned over the momentum indicators on BHS, which are fading into bearish signals. We're not suggesting new bullish positions here.

Picked on May 05 at $45.05
Change since picked: + 1.96
Earnings Date 05/02/05 (confirmed)
Average Daily Volume: 100 thousand

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Caremark - CMX - close: 44.25 chg: +0.45 stop: 40.95

Momentum traders may want to consider new bullish positions here but we're still expecting a potential pull back. No change from our previous update on 05/22/05.

Picked on May 09 at $43.30
Change since picked: + 0.95
Earnings Date 05/03/05 (confirmed)
Average Daily Volume: 2.6 million 

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General Electric - GE - close: 36.94 chg: +0.08 stop: 34.95

No change from our previous update on 05/24/05. Our entry point to go long is a pull back into the $35.50-36.00 range. 

Picked on May xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 07/16/05 (unconfirmed)
Average Daily Volume: 18.7 million 

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Greenhill & Co - GHL - close: 36.10 chg: +0.35 stop: 34.49 

No change from our previous update on 05/24/05. Our target is the $37.00-38.00 range.

Picked on May 09 at $34.11
Change since picked: + 1.99
Earnings Date 04/21/05 (confirmed)
Average Daily Volume: 70 thousand

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Humana - HUM - close: 36.65 chg: +0.47 stop: 32.95

HUM looks poised to breakout over minor resistance near the $37.00 level. Yet we're still not convinced the stock and the major averages won't pull back first. No change from our previous update on 05/22/05. 

Picked on May 09 at $36.33
Change since picked: + 0.32
Earnings Date 05/02/05 (confirmed)
Average Daily Volume: 1.3 million 

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Microsoft - MSFT - close: 25.90 chg: +0.19 stop: 24.60

No change from our previous update on 05/24/05. Our entry point to go long is a pull back into the $25.25-25.00 range. 

Picked on May xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 07/28/05 (unconfirmed)
Average Daily Volume: 70.8 million 

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Sirius Satellite Radio - SIRI - cls: 5.79 chg: +0.15 stop: 5.19

We may have to consider the possibility that the market is only going to get more overbought instead of pulling back first. SIRI's 2.6 percent gain today pushed the stock above technical resistance at its 100-dma. Momentum traders may want to consider new bullish positions. We're still cautious and wary that the market is overbought and due for a correction. 

Picked on May 22 at $ 5.65
Change since picked: + 0.14
Earnings Date 04/28/05 (confirmed)
Average Daily Volume: 40.0 million 

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Yahoo! Inc. - YHOO - close: 37.14 change: +0.87 stop: 33.95

Shares of YHOO were definitely showing some relative strength today with a 2.39 percent bounce from the $36 level and its simple 10-dma. The stock closed at a new four-month high and out performed its peers in the INX Internet index. We're encouraged by YHOO's strength and momentum traders may want to consider new positions. We'd be more inclined to wait for the NASDAQ to correct first. The NASDAQ is up nine out of the last ten sessions and that is an unsustainable pace. Look for the pull back before going long YHOO.

Picked on May 18 at $36.05
Change since picked: + 1.09
Earnings Date 04/19/05 (confirmed)
Average Daily Volume: 20.9 million 

Short Play Updates

Ball Corp - BLL - close: 37.90 chg: +0.38 stop: 39.05 

This is not an easy environment for bearish plays. Thus far BLL remains under resistance at the $38.00 level. However, the stock is building on its short-term trend of higher lows and looks ready to breakout to the upside. Conservative traders may want to exit early or cinch their stop loss down toward the $38.00 level. We're going to leave the play unaltered for now since volume is dwindling and the overall bearish trend remains intact.

Picked on May 05 at $38.98
Change since picked: - 0.92
Earnings Date 04/28/05 (confirmed)
Average Daily Volume: 611 thousand

Closed Long Plays

None

Closed Short Plays

A.S.V.Inc. - ASVI - close: 35.41 change: +0.36 stop: 35.31

We give up. The market is not being kind to the bears. We're closing ASVI as an unopened play. The stock never broke down below support at the $34.00 level and never 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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