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In Play Updates and Reviews

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Long Play Updates

Archstone-Smith - ASN - close: 36.82 chg: +0.37 stop: 35.35

It's very encouraging to see ASN showing relative strength today with a one percent gain on above average volume but we remain wary now that the market is finally pulling back a bit. Our target remains the $38.50-39.00 range.

Picked on May 06 at $36.26
Change since picked: + 0.56
Earnings Date 04/26/05 (confirmed)
Average Daily Volume: 811 thousand

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Brookfield Homes - BHS - close: 45.86 chg: -1.04 stop: 43.49

Hmm... now BHS is beginning to under perform its peers. The DJUSHB home construction index closed in the green today but shares of BHS lost more than 2.2 percent. We suspect this consolidation in BHS could reach the $45.00 or even the $44.00 levels. We are not suggesting new bullish positions and more conservative traders may want to exit early to avoid any losses. A traders can always jump back in at a later date.

Picked on May 05 at $45.05
Change since picked: + 0.81
Earnings Date 05/02/05 (confirmed)
Average Daily Volume: 100 thousand

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Canon - CAJ - close: 54.25 change: -0.99 stop: 52.85

We suggested that readers look for a pull back in shares of CAJ but today's 1.8 percent decline was a little bit steeper than we expected. Odds are today's weakness has more to do with the sudden drop in the euro (thanks to the "no" vote by the French on the EU constitution) than any weakness in CAJ. We would watch for a bounce from the $53.50 level and use a rebound as an entry point for new bullish positions although more conservative trader may want to wait for CAJ to trade back over the $55.00 level before initiating new positions.

Picked on May 29 at $55.24
Change since picked: - 0.99
Earnings Date 04/27/05 (confirmed)
Average Daily Volume: 157 thousand

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Caremark - CMX - close: 44.66 chg: +0.45 stop: 40.95

No change from our previous update on 05/29/05.

Picked on May 09 at $43.30
Change since picked: + 1.36
Earnings Date 05/03/05 (confirmed)
Average Daily Volume: 2.6 million

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General Electric - GE - close: 36.48 chg: -0.40 stop: 34.95

The pull back in GE is actually good news. We've been expecting a dip and our trigger to go long the stock is for GE to pull back into the $36.00-35.50 range. Please see our previous update on 05/29/05 for more details about strategy and entry points.

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: 35.68 chg: -1.01 stop: 34.99

Ouch! GHL took a 2.75 percent hit today with volume coming in above average - that's seldom a good sign. The stock should have support near the $35.00 level but more conservative traders may want to exit early.

Picked on May 09 at $34.11
Change since picked: + 1.57
Earnings Date 04/21/05 (confirmed)
Average Daily Volume: 70 thousand

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Humana - HUM - close: 36.36 chg: -0.53 stop: 32.95

No change from our previous update on 05/29/05.

Picked on May 09 at $36.33
Change since picked: + 0.03
Earnings Date 05/02/05 (confirmed)
Average Daily Volume: 1.3 million

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Microsoft - MSFT - close: 25.80 chg: -0.27 stop: 24.60

No change from our previous update on 05/29/05. Our entry point to go long the stock is for MSFT to 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: 6.01 chg: +0.04 stop: 5.28

We are impressed with the relative strength in shares of SIRI (and rival XMSR) today. The breakout over the $6.00 mark is good news but we remain wary about initiating new long positions here with the broader market beginning to pull back. No change from our previous update on 05/29/05.

Picked on May 22 at $ 5.65
Change since picked: + 0.36
Earnings Date 04/28/05 (confirmed)
Average Daily Volume: 40.0 million

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Yahoo! Inc. - YHOO - close: 37.20 change: -0.07 stop: 33.95

The Internet bubble is back - at least if you're long shares of Google (GOOG). Shares of GOOG added another $11.00 to $277 after Piper Jaffray raised their price target to $300 this morning. The analyst firm also issued positive comments on YHOO saying the stock is undervalued here. This gave YHOO enough strength to resist most of the profit taking in the NASDAQ today. We remain wary about initiating new longs here and would prefer to buy a pull back toward the $36 region. The ramp up in shares of GOOG looks way unsustainable and the stock will eventually correct, which could help pull YHOO back toward support.

Picked on May 18 at $36.05
Change since picked: + 1.15
Earnings Date 04/19/05 (confirmed)
Average Daily Volume: 20.9 million
 

Short Play Updates

Ball Corp - BLL - close: 37.60 chg: -0.41 stop: 39.05

Good news! The market weakness finally cracked BLL's short-term trend of higher lows. There was a late day rally but it failed at $37.80. This looks like a new bearish entry point although traders might want to consider a tighter stop loss near the $38.00 level. Our target remains the $35.00-34.00 range.

Picked on May 05 at $38.98
Change since picked: - 1.37
Earnings Date 04/28/05 (confirmed)
Average Daily Volume: 611 thousand
 

Closed Long Plays

None
 

Closed Short Plays

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