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Long Play Updates

Archstone-Smith - ASN - close: 37.10 chg: +0.28 stop: 35.35

The situation with ASN definitely seems to be improving. Technical oscillators look positive again and this might prove to be another bullish entry point. Our target remains the $38.50-39.00 range.

Picked on May 06 at $36.26
Change since picked: + 0.83
Earnings Date 04/26/05 (confirmed)
Average Daily Volume: 811 thousand

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Canon - CAJ - close: 54.82 change: +0.57 stop: 52.85

Today's rebound in shares of CAJ was encouraged as traders stepped in to buy the dip toward the $54 region. We would use today's bounce as a new bullish entry point. Our target is the $58.00-59.00 range.

Picked on May 29 at $55.24
Change since picked: - 0.42
Earnings Date 04/27/05 (confirmed)
Average Daily Volume: 157 thousand

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Caremark - CMX - close: 44.13 chg: -0.53 stop: 40.95

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

Picked on May 09 at $43.30
Change since picked: + 0.83
Earnings Date 05/03/05 (confirmed)
Average Daily Volume: 2.6 million

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General Electric - GE - close: 36.93 chg: +0.45 stop: 34.95

Uh-oh! Today's rebound in GE could be a problem for our play. Yesterday's decline and today's rebound almost looks like a tweezer type bottom, which is normally seen as a bullish reversal signal. The market's show of strength today is a definite monkey wrench in our plan to buy the big dip. We're not going to change our strategy just yet. Currently our plan is to go long shares of GE on a dip into the $36.00-35.50 range but more aggressive traders may want to consider bullish positions here.

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: 35.87 chg: +0.19 stop: 34.99

There is no change in our strategy. GHL bounced from the $35.00 level again. Hopefully this time the rebound can push into our target range of $37.00-38.00.

Picked on May 09 at $34.11
Change since picked: + 1.76
Earnings Date 04/21/05 (confirmed)
Average Daily Volume: 70 thousand

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Humana - HUM - close: 37.22 chg: +0.86 stop: 32.95

We may have to consider the possibility that HUM will not dip toward support near the $35.00 level. Traders may want to consider bullish positions with today's breakout over the $37 level.

Picked on May 09 at $36.33
Change since picked: + 0.89
Earnings Date 05/02/05 (confirmed)
Average Daily Volume: 1.3 million

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Microsoft - MSFT - close: 25.81 chg: +0.01 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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Ship Fincl Intl - SFL - close: 19.65 change: +0.31 stop: 18.19

SFL experienced some volatility today. The stock gapped lower after the Wall Street Journal published comments about short traders expecting the oil tanker stocks to continue trading lower this spring/summer. Fortunately, the weakness reversed after crude oil prices surged to $54 a barrel and breaking out over its simple 50-dma. The next challenge for SLF is the May 6th highs near $19.80.

Picked on May 31 at $19.34
Change since picked: + 0.31
Earnings Date 05/31/05 (confirmed)
Average Daily Volume: 344 thousand

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Sirius Satellite Radio - SIRI - cls: 5.93 chg: -0.08 stop: 5.45*new*

SIRI's lack of participation in today's market rally may be suggesting it's time to start looking for a dip. We would watch for a dip toward the simple 10-dma near $5.70. A bounce from $5.70 could be used as a new bullish entry point. We are going to raise our stop loss to $5.45. Our target is the $6.50-6.75 range.

Picked on May 22 at $ 5.65
Change since picked: + 0.28
Earnings Date 04/28/05 (confirmed)
Average Daily Volume: 40.0 million

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Yahoo! Inc. - YHOO - close: 38.42 change: +1.22 stop: 35.99*new*

It was another strong day for Internet stocks and this time YHOO helped lead the way. Shares of YHOO surged 3.27 percent on above average volume to come within 10 cents of our target at the $39.00 level. This close to our target we're certainly not suggesting new bullish positions. However, we are raising our stop loss to $35.99.

Picked on May 18 at $36.05
Change since picked: + 2.37
Earnings Date 04/19/05 (confirmed)
Average Daily Volume: 20.9 million
 

Short Play Updates

Ball Corp - BLL - close: 37.58 chg: +0.03 stop: 38.15*new*

Yesterday's failed rally appears to have been short-circuited by today's market rally. We remain bearish but are wary about initiating new short positions with the market showing strength. We are going to tighten our stop loss to $38.15, above BLL's 21-dma and the recent highs for the past two weeks.

Picked on May 05 at $38.98
Change since picked: - 1.34
Earnings Date 04/28/05 (confirmed)
Average Daily Volume: 611 thousand
 

Closed Long Plays

Brookfield Homes - BHS - close: 45.35 chg: -0.51 stop: 43.49

Wow! It was a very volatile day for shares of BHS. It looks like last night's HOV earnings warning for the third quarter impacted investors in BHS. Shares of BHS gapped a bit lower and then quickly dipped to $43.25 before rebounding. Volume was very heavy at about seven times the norm. We were stopped out at $43.49. It is interesting to see that shares of HOV were not as volatile as BHS and the home sector as a group remains strong. We'll be sure to keep our eyes on the industry for future bullish candidates.

Picked on May 05 at $45.05
Change since picked: + 0.30
Earnings Date 05/02/05 (confirmed)
Average Daily Volume: 100 thousand
 

Closed Short Plays

None
 

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