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Long Play Updates

Vital Images - VTAL - close: 19.69 change: +0.76 stop: 17.49

No change from our previous update. VTAL added another four percent on Wednesday with volume coming in very strong at more than three times the average. This is very bullish but traders may want to consider waiting for a dip before evaluating an entry now. Our target is the $21-22 range. Our biggest concern is that the NASDAQ reverses at resistance in the 2190-2200 region and it is a significant possibility.

Picked on July 19 at $18.93
Change since picked: + 0.76
Earnings Date 08/02/05 (confirmed)
Average Daily Volume: 107 thousand
 

Short Play Updates

ATI Tech. - ATYT - close: 13.19 change: -0.11 stop: 13.41

As we expected investors sold the news on Intel's earnings report and shares of INTC lost 4.4 percent. Surprisingly the SOX semiconductor index managed to power higher to a 1.7 percent gain in spite of INTC's loss. The net affect on ATYT was a small decline. This display of relative weakness in ATYT is encouraging but traders should use caution opening new positions. A reversal in the NASDAQ under the 2200 level would be good news for shorts. Our target for ATYT is the $11.50-11.20 range.

Picked on July 17 at $12.83
Change since picked: + 0.36
Earnings Date 09/22/05 (unconfirmed)
Average Daily Volume: 5.9 million

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Par Pharma. - PRX - close: 29.57 chg: -0.24 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: - 0.39
Earnings Date 07/28/05 (unconfirmed)
Average Daily Volume: 661 thousand

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Sina.com - SINA - close: 26.91 change: -0.38 stop: 28.51*new*

Good news! SINA hit a new two-month low this morning and closed under the $27.00 level. This relative weakness in the face of such strength in technology sector is encouraging. We are lowering our stop loss to $28.51.

Picked on June 30 at $27.90
Change since picked: - 0.99
Earnings Date 08/03/05 (unconfirmed)
Average Daily Volume: 1.4 million
 

Closed Long Plays

Cameco - CCJ - close: 48.32 chg: -0.27 stop: 44.95

Target achieved. It looks like we didn't have to adjust our target after all. CCJ hit an intraday high of $50.46 this morning before fading lower again. The weakness is probably due to an analyst downgrade to sector perform. Our previous target was the $49.50-50.00 range but we're closing the play at $49.00 - our new target from last night.

Picked on June 27 at $44.14
Change since picked: + 4.18
Earnings Date 07/28/05 (unconfirmed)
Average Daily Volume: 989 thousand

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Home Depot - HD - close: 43.95 chg: +0.75 stop: 38.75

The rally in the home improvement stocks like HD and LOW is just on fire. Our strategy to wait for the dip proved to be a dud this time. The stock is looking pretty overbought here and shares have hit our suggested target even though we never got a chance to enter it. We're closing the play unopened but will keep an eye on HD for future opportunities.

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
 

Closed Short Plays

None
 

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