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Long Play Updates

Cameco - CCJ - close: 48.59 chg: +1.55 stop: 44.95 *new*

CCJ showed a lot of strength today with a 3.29 percent rally toward the top of its rising channel. Upon closer inspection of its rising channel we're going to adjust our target toward the upper edge of that channel in the $49.00-49.50 range. More conservative traders may want to seriously consider taking profits right here. We are raising the stop loss to $44.95.

Picked on June 27 at $44.14
Change since picked: + 4.45
Earnings Date 07/28/05 (unconfirmed)
Average Daily Volume: 989 thousand

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Home Depot - HD - close: 43.20 chg: +0.75 stop: 38.75

Yup, it's definitely looking like we missed the boat here. HD never pulled back into our suggested entry point and shares have shot up to hit a series of new four-month highs. Today's gain was fueled by news that HD is buying National Waterworks and news that an analyst firm reiterated their "buy" rating on the stock. At this point in the game we're just watching to see when and where HD finally rests. Nothing goes up in a straight line. We'll evaluate any potential new entry point on HD's next pull back. Right now we are watching the $42.00 level or maybe its simple 10-dma near $41.00.

Picked on July xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 08/16/05 (unconfirmed)
Average Daily Volume: 7.4 million
 

Short Play Updates

ATI Tech. - ATYT - close: 13.30 change: +0.44 stop: 13.41

Buckle your seat belt. We've been waiting for Intel to report earnings and the chip titan did so tonight after the closing bell. Earnings came in better than expected and that's good news for the sector. Yet the question remains. Will investors continue to chase INTC and the rest of the chip sector higher? Or will the "sell the news", which is so common during earnings season. ATYT soared today during the market's rally and the 1.7 percent jump in the SOX. Yet looking at the after hours trading we already see ATYT trading lower (around 13.20). We would not open new bearish positions until ATYT traded back under the $13.00 level. Current shorts should double-check their stop loss placement. While it would stop us out we wouldn't be surprised to see a spike to ATYT's 50-dma near 13.70 before turning lower again. Our target for ATYT is the $11.50-11.20 range.

Picked on July 17 at $12.83
Change since picked: + 0.03
Earnings Date 09/22/05 (unconfirmed)
Average Daily Volume: 5.9 million

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Par Pharma. - PRX - close: 29.81 chg: +0.33 stop: 32.01

No change from our previous update. PRX remains under round-number resistance at the $30.00 mark. Our target is the $27.00-26.50 range.

Picked on July 14 at $29.96
Change since picked: - 0.15
Earnings Date 07/28/05 (unconfirmed)
Average Daily Volume: 661 thousand

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Sina.com - SINA - close: 27.29 change: +0.09 stop: 29.01

We have relatively good news to report here. SINA continues to display relative weakness. The INX Internet index soared with a 2.8 percent rally today but SINA failed to participate. The stock looks poised to breakdown under the $27.00 level. Our target is the $25.75-25.50 range.

Picked on June 30 at $27.90
Change since picked: - 0.61
Earnings Date 08/03/05 (unconfirmed)
Average Daily Volume: 1.4 million
 

Closed Long Plays

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Closed Short Plays

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