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Long Play Updates

Archstone-Smith - ASN - close: 38.03 chg: +0.12 stop: 36.26

Oh! So close. ASN traded to a high of $38.48, which was almost enough to hit our target range of $38.50-39.00. The move was propelled by some news this morning. ASN announced that it has settled a lawsuit involving accessibility issues and compliance with the Fair Housing Act and the Americans with Disabilities Act. Short-term traders may want to seriously consider exiting here for a profit as ASN does look short-term overbought and due for a dip. We're going to let it ride and see if ASN can hit our target since our stop loss is currently at break even.

Picked on May 06 at $36.26
Change since picked: + 1.77
Earnings Date 04/26/05 (confirmed)
Average Daily Volume: 811 thousand

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Canon - CAJ - close: 55.39 change: +0.59 stop: 52.85

It was a decent session for shares of CAJ, which added more than one percent today. We see no change from our previous updates.

Picked on May 29 at $55.24
Change since picked: + 0.15
Earnings Date 04/27/05 (confirmed)
Average Daily Volume: 157 thousand

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Caremark - CMX - close: 44.40 chg: -0.74 stop: 41.95

There are no surprises here. Yesterday we said that CMX was likely to pull back after its failed rally and that's what happened. Fortunately, the selling stalled near its four-week trendline of support of higher lows.

Picked on May 09 at $43.30
Change since picked: + 1.10
Earnings Date 05/03/05 (confirmed)
Average Daily Volume: 2.6 million

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Greenbrier Co - GBX - close: 28.64 change: -0.33 stop: 25.49

The Dow Transportation index was hit pretty hard today with a two percent decline and a drop below its simple 200-dma, which is normally seen as technical support (or resistance). That lead shares of GBX lower but GBX remains above its own 200-dma. If the TRAN index continues to decline then we would look for GBX to follow. Traders may be best served by standing back and waiting to see how deep GBX dips. We would watch for a bounce in the $27.50-28.00 region as a potential bullish entry point.

Picked on June 01 at $28.67
Change since picked: - 0.03
Earnings Date 06/29/05 (unconfirmed)
Average Daily Volume: 227 thousand

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General Electric - GE - close: 36.80 chg: -0.04 stop: 34.95

No change here. We're still waiting for GE to dip into the $36.00-35.50 range before going long the stock.

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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Georgia Gulf - GGC - close: 34.45 change: -0.19 stop: 30.95

No change from our previous update.

Picked on June 05 at $34.33
Change since picked: + 0.12
Earnings Date 07/28/05 (unconfirmed)
Average Daily Volume: 598 thousand

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Greenhill & Co - GHL - close: 36.64 chg: +0.21 stop: 34.99

GHL made a run for the $37.00 level but the rally failed. No change from our previous update on 06/05/05. Traders may want to consider exiting here for a profit. Our target is the $37.00-38.00 range.

Picked on May 09 at $34.11
Change since picked: + 2.53
Earnings Date 04/21/05 (confirmed)
Average Daily Volume: 70 thousand

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Humana - HUM - close: 37.50 chg: -0.67 stop: 33.99

We've been expecting a pull back. We see no changes from our previous update on 06/07/05.

Picked on May 09 at $36.33
Change since picked: + 1.17
Earnings Date 05/02/05 (confirmed)
Average Daily Volume: 1.3 million

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Microsoft - MSFT - close: 25.40 chg: -0.11 stop: 24.60

No change here either. We're still waiting for MSFT to pull back into the $25.25-25.00 range before going long the stock.

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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Marvel Enterprises - MVL - close: 21.15 change: -0.42 stop: 20.45

MVL has pulled back toward what should be support near the $21.00 level. If it breaks down here it could be headed for the $20 range and through our stop loss. Today marks the one-month countdown for MVL's Fantastic Four movie opening and we would normally expect shares to trend higher into the opening weekend.

Picked on June 01 at $21.86
Change since picked: - 0.71
Earnings Date 07/28/05 (unconfirmed)
Average Daily Volume: 911 thousand

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Nova Chemicals - NCX - close: 30.75 change: -0.56 stop: 29.99

We are still in red alert mode with NCX. Ever since the bearish reversal on June 2nd we've been suggesting that traders hesitate on any bullish positions. Currently NCX is drifting lower toward the $30.50 level, which is last ditch support before shares hit what could be round-number support at the $30.00 mark. Yet if NCX trades under $30.50 we'd probably look for the stock to retest the May lows near $29.00. We are not suggesting new bullish plays at this time.

Picked on June 01 at $33.03
Change since picked: - 2.28
Earnings Date 07/20/05 (unconfirmed)
Average Daily Volume: 660 thousand

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Sirius Satellite Radio - SIRI - cls: 5.83 chg: -0.01 stop: 5.45

No change from our previous update on 06/07/05.

Picked on May 22 at $ 5.65
Change since picked: + 0.18
Earnings Date 04/28/05 (confirmed)
Average Daily Volume: 40.0 million

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Yahoo! Inc. - YHOO - close: 36.63 change: -0.81 stop: 35.99

Ouch! Internet and search-engine related stocks like YHOO and GOOG were hit today after CNBC reported that May prices for key-word searches actually declined. Analysts were expecting prices to rise. This sent both YHOO and GOOG lower. The selling in YHOO paused near its 21-dma but this doesn't look good following yesterday's failed rally. More conservative traders may want to exit now to avoid any or further losses. We'll hold on to the play to see if YHOO bounces from what should be support at the $36.00 level. Considering the new MACD sell signal in YHOO and the NASDAQ Composite we don't have much hope and would expect to be stopped out. This has been quite a reversal after YHOO came within five cents of our target.

Picked on May 18 at $36.05
Change since picked: + 0.58
Earnings Date 04/19/05 (confirmed)
Average Daily Volume: 20.9 million
 

Short Play Updates

Ball Corp - BLL - close: 37.55 chg: -0.04 stop: 38.15

No change from our previous update.

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

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ManTech Intl - MANT - close: 28.25 change: -0.17 stop: 30.05

This morning MANT opened up weak and continued to decline following yesterday's failed rally pattern. The stock dropped to a low of $27.09 before bouncing. The rebound took it all the way back toward previous support in the $28.50-28.60 region before fading lower again. This sort of volatility can be gut wrenching. We would probably wait and watch for MANT to trade back below the $28.00 level before considering new bearish positions. Our target is the $25.50-25.00 range.

Picked on June 07 at $28.42
Change since picked: - 0.17
Earnings Date 08/15/05 (unconfirmed)
Average Daily Volume: 165 thousand
 

Closed Long Plays

Ship Fincl Intl - SFL - close: 19.10 change: -0.40 stop: 18.95

We don't know what happened but according to our records SFL just lost 40 cents today yet most of the quote services show a 10-cent gain. Looking at the intraday chart SFL gapped down to $18.98 and then shot to a low of $18.43 before rebounding higher. That would have stopped us out at $18.95. We're closing the play per our stop loss.

Picked on May 31 at $19.34
Change since picked: - 0.24
Earnings Date 05/31/05 (confirmed)
Average Daily Volume: 344 thousand
 

Closed Short Plays

Interoil Corp - IOC - close: 21.79 change: -1.45 stop: 25.55

Whoa! IOC dropped a lot faster than we expected. Shares opened at $23.24 and within minutes promptly dropped straight toward our target in the $20.50-20.00 range on very heavy volume. The intraday low was $20.07. We're not claiming that any of our readers were able to catch this play but we have to close it out at our target ($20.50). Given the intraday bounce we'll keep an eye on IOC for another failed rally under the $24.50 level.

Picked on June 07 at $23.24
Change since picked: - 1.45
Earnings Date 00/00/00 (unconfirmed)
Average Daily Volume: 352 thousand
 

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