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Long Play Updates

Black Hills - BKH - close: 38.62 change: +0.88 stop: 36.85

Ding! We have been triggered. Today's market-wide rally helped spur BKH to new relative highs. The stock broke through resistance in the $38.00-38.15 region on big volume about three times its average. We suggested a trigger to go long at $38.20 so the play is now open. Our target is the $39.85-40.00 range before BKH reports earnings in early August.

Picked on July 11 at $38.20
Change since picked: + 0.42
Earnings Date 08/05/05 (unconfirmed)
Average Daily Volume: 232 thousand

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Berry Petrol. - BRY - close: 58.42 change: +0.71 stop: 53.49*new*

BRY almost made it! Our target is the $59.50-60.00 range and BRY hit a high of $59.24 this morning. Volume was well above the average suggesting more strength ahead. We suggest traders prepare to exit. More conservative traders may want to take some profits right here. We are raising our stop loss to $53.49.

Picked on July 03 at $55.23
Change since picked: + 3.19
Earnings Date 08/02/05 (unconfirmed)
Average Daily Volume: 192 thousand

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Dynamic Materials - BOOM - close: 44.00 chg: +4.11 stop: 37.95

Ka-Boom! The market-wide rally on Monday helped fuel another short squeeze in shares of BOOM and the stock added 10.3 percent on volume well above the average. We were suggesting a trigger to go long at $42.01 so the play is now open. The next challenge for the bulls is the all time highs, which have formed some level of resistance near the $45.00 level. There's no way of predicting if BOOM will keep rocketing higher but traders who don't feel like chasing it might watch for a pull back. The major market indices do look a little overbought and due for a dip. Any such market dip would probably be exaggerated in BOOM. A dip to the $42.00 level might work but we'd prefer to buy on the bounce. We do see that the MACD indicator is closer to a new buy signal. Our target is the $48.00-50.00 range. This is a high-risk, aggressive play.

Picked on July 11 at $ 42.01
Change since picked: + 1.99
Earnings Date 05/05/05 (confirmed)
Average Daily Volume = 2.0 million

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Cameco - CCJ - close: 45.30 chg: +0.19 stop: 41.47

On Friday we were disappointed with CCJ's lack of strength and participation in the rally. Today we're growing concerned as the stock under-performed the market again and dare we say looks poised to trade under the $44.00 level. Traders need to be careful initiating positions here.

Picked on June 27 at $44.14
Change since picked: + 1.16
Earnings Date 07/28/05 (unconfirmed)
Average Daily Volume: 989 thousand

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Caremark - CMX - close: 43.55 chg: +0.08 stop: 42.85

CMX's lack of participation in the market's rally over the last three sessions is a big red flag to us. If we don't see a bounce very soon we're closing this play early. More conservative traders may want to close it now!

Picked on May 09 at $43.30
Change since picked: + 0.25
Earnings Date 07/28/05 (unconfirmed)
Average Daily Volume: 2.6 million

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Deckers Outdoor - DECK - cls: 25.77 chg: -0.04 stop: 24.49*new*

Hmm... interesting. Resistance near the $26.00 level is apparently tougher than we imagined. We would have expected today's market rally to spark more short covering in shares of DECK. We remain bullish as long as DECK remains north of the $25.00 mark. We are going to raise the stop loss to 24.49.

Picked on June 22 at $25.88
Change since picked: - 0.11
Earnings Date 07/21/05 (unconfirmed)
Average Daily Volume: 753 thousand

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Diodes Inc. - DIOD - close: 34.14 change: +0.66 stop: 30.95*new*

We have good news to report on here. The SOX semiconductor index broke out over major resistance at the 450 level. This helped promote a breakout over resistance in DIOD over the $34.00 level. If the SOX sees some follow through to the upside tomorrow then we'll watch for the same in DOID. Our target is the $36.50 mark. We are raising our stop loss to $30.95, under the 50-dma.

Picked on July 05 at $32.48
Change since picked: + 1.66
Earnings Date 07/27/05 (unconfirmed)
Average Daily Volume: 249 thousand

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Forest Oil - FST - close: 44.37 change: +0.37 stop: 41.25

No change from our weekend update. We remain bullish but more conservative traders might want to wait for a move over $45.00 before going long. Our target is the $47.50-48.00 range.

Picked on July 05 at $44.15
Change since picked: + 0.22
Earnings Date 08/01/05 (unconfirmed)
Average Daily Volume: 790 thousand

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GulfMark Offshore - GMRK - close: 28.48 chg: +0.11 stop: 26.49

The rebound from the simple 10-dma today looks like a new bullish entry point. We are targeting a move into the $31.50-32.00 range. Volume was pretty heavy today.

Picked on July 07 at $28.65
Change since picked: - 0.17
Earnings Date 08/01/05 (unconfirmed)
Average Daily Volume: 92 thousand

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Hologic - HOLX - close: 41.09 change: -1.37 stop: 38.69.

Given the market rally today, Monday's decline in HOLX might be disappointing but we see the dip toward the $40.50 level as a new bullish entry point. Our target is the $47-49 range.

Picked on July 10 at $42.46
Change since picked: - 1.37
Earnings Date 07/27/05 (unconfirmed)
Average Daily Volume: 220 thousand

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Nextel Comm. - NXTL - close: 32.99 change: +0.06 stop: 31.49

NXTL managed to briefly trade over the $33.00 level today but shares failed to trade at or above our suggested entry point to go long at $33.10. We remain untriggered. The stock does look poised to breakout soon. We see no changes from our weekend update.

Picked on July xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 07/21/05 (unconfirmed)
Average Daily Volume: 9.9 million

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TurboChef Tech. - OVEN - close: 18.26 chg: -0.84 stop: 17.49

Hmm... today's action in OVEN doesn't look very appetizing. There was no follow through on Friday's breakout. Instead this looks like what candlestick traders might call "dark cloud cover", which could be a bearish reversal in progress. We would turn cautious here and hesitate to begin new bullish plays. Watch for a bounce from the $18.00 level.

Picked on July 10 at $19.10
Change since picked: - 0.84
Earnings Date 08/08/05 (unconfirmed)
Average Daily Volume: 632 thousand
 

Short Play Updates

Sina.com - SINA - close: 27.85 change: +0.45 stop: 29.31

Today's market rally may have spooked some bears in SINA but we see that the rally stalled near the $28.50 level and under its simple 50-dma. We remain bearish on the stock but would not consider new plays unless SINA traded back under $27.50. Our target remains the $25.50-25.75 range.

Picked on June 30 at $27.90
Change since picked: - 0.05
Earnings Date 07/26/05 (unconfirmed)
Average Daily Volume: 1.4 million
 

Closed Long Plays

None
 

Closed Short Plays

Amazon.com - AMZN - close: 35.59 chg: +0.85 stop: 34.81

No surprises here. As we predicted over the weekend AMZN continued to rally and hit our stop loss at $34.81 closing the play.

Picked on June 29 at $33.35
Change since picked: + 2.24
Earnings Date 07/21/05 (unconfirmed)
Average Daily Volume: 6.0 million
 

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