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Long Play Updates

Amer. Home Mtg Invest. - AHM - cls: 36.45 chg: -0.11 stop: 34.95

There is still no change from our weekend update. AHM is bouncing around its $35.50-37.00 trading range. Readers can choose to buy a bounce from the bottom of the range or wait for a breakout.

Picked on June 19 at $36.34
Change since picked: + 0.11
Earnings Date 07/25/05 (unconfirmed)
Average Daily Volume: 445 thousand

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Canon - CAJ - close: 54.86 change: +0.56 stop: 53.45 

CAJ is starting to show a little life again. Today's one-percent gain is encouraging but we're still not suggesting new bullish positions until CAJ trades over the $55.00 level. 

Picked on May 29 at $55.24
Change since picked: - 0.38
Earnings Date 04/27/05 (confirmed)
Average Daily Volume: 157 thousand

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CB Rich. Ellis Grp - CBG - close: 40.81 chg: -0.59 stop: 38.49

So far so good. We wanted a dip back toward the $40.00 level and that's where CBG appears to be heading. No change from our previous update on 06/20/05.

Picked on June 20 at $41.40
Change since picked: - 0.59
Earnings Date 08/01/05 (unconfirmed)
Average Daily Volume: 466 thousand

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Caremark - CMX - close: 44.07 chg: -0.66 stop: 42.45 

Hmm... news that CSFB started coverage on CMX with an "out perform" rating today didn't help the stock any. CMX also announced that it is promoting its CFO to its COO spot. 

Picked on May 09 at $43.30
Change since picked: + 0.77
Earnings Date 05/03/05 (confirmed)
Average Daily Volume: 2.6 million 

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Greenbrier Co - GBX - close: 29.30 change: +0.25 stop: 27.99 

We remain somewhat cautious on GBX here. The stock did bounce back over the $29.50 level intraday but couldn't hold it. We do not like how the MACD indicator is beginning to curl towards a new sell signal. Other technical oscillators are mixed. As long as GBX stays above the $28 level or its 200-dma bulls should be okay but we hesitate to suggest new positions here. 

Picked on June 01 at $28.67
Change since picked: + 0.63
Earnings Date 06/29/05 (unconfirmed)
Average Daily Volume: 227 thousand

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General Electric - GE - close: 36.15 chg: -0.13 stop: 34.95

Please see our weekend update for strategy details on GE. We are currently suggesting a bullish entry on a dip into the $36.00-35.50 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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Georgia Gulf - GGC - close: 34.72 change: -1.13 stop: 33.95*new* 

More conservative traders may want to start eyeing the exits here. GGC has been unable to breakout over its simple 50-dma and now shares are breaking down under its 10-dma and the $35.00 level. Tuesday's 3.15 percent decline definitely under performed the wider market. We are not suggesting new bullish positions at this time. Instead we are raising our stop loss to $33.95 to reduce our risk. The action over the last couple of days has not been good to the technical indicators. 

Picked on June 05 at $34.33
Change since picked: + 0.39
Earnings Date 07/28/05 (unconfirmed)
Average Daily Volume: 598 thousand

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ExxonMobil - XOM - close: 59.51 change: -1.34 stop: 56.99 *new*

XOM hit some profit taking today pulling the stock back below the $60.00 level. A dip in crude oil may be the cause but then again both oil and oil stocks look a overbought and extended. We suspect that XOM's decline may also be partially fueled by comments from the company's CEO Lee Raymond today. Lee said that conditions for investing across the globe's more energy-rich countries are declining (source: Reuters). We would watch for a bounce in the $58.00-58.50 region in XOM's stock price. We are also raising our stop loss to $56.99. 

Picked on June 09 at $58.44
Change since picked: + 1.07
Earnings Date 07/28/05 (unconfirmed)
Average Daily Volume: 20.9 million 

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M/I Homes Inc - MHO - close: 54.25 chg: +0.17 stop: 50.98 

No change from our weekend update. More conservative traders may want to consider taking some profits here. Our target is the $54.90-55.20 range.

Picked on June 14 at $50.98
Change since picked: + 3.27
Earnings Date 07/25/05 (unconfirmed)
Average Daily Volume: 143 thousand

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Smurfit-Stone Cont. - SSCC - close: 11.41 chg: -0.17 stop: 10.99

If you were one of the traders looking for our suggested alternative entry point in the $11.20-11.40 range you got it today. The low was $11.25 and SSCC obviously bounced back toward $11.40. The rest of us might want to wait for SSCC to breakout over the $12.00 level or even its 50-dma before considering new bullish positions. 

Picked on June 19 at $11.68
Change since picked: - 0.28
Earnings Date 07/22/05 (unconfirmed)
Average Daily Volume: 2.4 million 

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Sirius Satellite Radio - SIRI - cls: 5.96 chg: -0.05 stop: 5.59 

No change from our weekend update. SIRI continues to coil under resistance in the $6.10 region. 

Picked on May 22 at $ 5.65
Change since picked: + 0.31
Earnings Date 04/28/05 (confirmed)
Average Daily Volume: 40.0 million 

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Sohu.com - SOHU - close: 22.92 change: +0.62 stop: 20.99 *new*

It was a strong day for the Chinese Internet-related stocks and SOHU added another 2.78 percent on decent volume. Don't be surprised to see SOHU dip back toward the $22.00 level before continuing higher. Our target is the $24.00 level or above. We are raising our stop loss to $20.99. 

Picked on June 13 at $21.25
Change since picked: + 1.66
Earnings Date 07/28/05 (unconfirmed)
Average Daily Volume: 924 thousand

Short Play Updates

Rogers Corp - ROG - close: 42.40 change: -0.00 stop: 45.01

The lack of a bounce today in ROG might be considered good news for the bears. We would still prefer to short a failed rally up near the $44.00 level but we're not afraid to open new bearish positions here. It's up to you if you want to wait for a possible bounce fill-the-gap type of move before initiating positions. Please see our previous update on 06/20/05 for more details. 

Picked on June 20 at $42.40
Change since picked: - 0.00
Earnings Date 07/18/05 (unconfirmed)
Average Daily Volume: 94 thousand

Closed Long Plays

Nova Chemicals - NCX - cls: 31.09 chg: -1.00 stop: 31.95 

NCX continues to show a lot of volatility. This morning the stock was downgraded by Lehman Brothers to an "under weight". The broker lowered their price target to $21.00. This had shares of NCX gapping lower to open at $31.50, which is below our stop loss at $31.95 so we would have been immediately stopped out. Readers may want to consider bearish positions in NCX if the stock breaks down under the $30.00 level. 

Picked on June 01 at $33.03
Change since picked: - 1.94
Earnings Date 07/20/05 (unconfirmed)
Average Daily Volume: 660 thousand

Closed Short Plays

None

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