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Long Play Updates

Kerzner Intl - KZL - close: 60.15 chg: -0.10 stop: 57.99

KZL did crack round-number support at the $60.00 mark today but managed a small bounce from its 100-dma to close right at $60.00. We would not be surprised to see KZL actually dip to the $59.00 level, which should be a secondary level of support, before turning higher. So far we still have not been able to confirm the company's earnings date. If it is August 1st we would not suggest new positions here as we don't want to hold over the report.

Picked on July 22 at $61.01
Change since picked: - 0.86
Earnings Date 08/01/05 (unconfirmed)
Average Daily Volume: 154 thousand

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Steel Dynamics - STLD - cls: 31.80 chg: -0.30 stop: 28.99

We suspect that STLD could be poised to dip back toward the $30.00 support level in the next few days. Even though we have a suggested entry point at 30.50-30.00 that doesn't mean you have to jump at the first dip into that region. Feel free to wait and watch for the rebound to begin. We are going to raise the stop loss to $28.99.

Picked on July xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 07/19/05 (confirmed)
Average Daily Volume: 1.4 million

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Vital Images - VTAL - close: 19.68 change: -0.06 stop: 17.99

No change from our previous update. We plan to exit on Friday afternoon to avoid the company's earnings report next week.

Picked on July 19 at $18.93
Change since picked: + 0.75
Earnings Date 08/02/05 (confirmed)
Average Daily Volume: 107 thousand
 

Short Play Updates

ATI Tech. - ATYT - close: 12.75 change: -0.27 stop: 13.41

So far so good. ATYT lost just over two percent today as it continues to suffer under a trend of lower highs with pressure being applied (short-term) at the simple 40-dma. This looks like a new bearish entry point for shorts. Our target for ATYT is the $11.50-11.20 range.

Picked on July 17 at $12.83
Change since picked: - 0.08
Earnings Date 09/22/05 (unconfirmed)
Average Daily Volume: 5.9 million

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Intl Game Tech. - IGT - cls: 27.98 chg: +0.69 stop: 29.01

Investors responded positively to news that IGT was buying online gambling and gaming company WagerWorks for $90 million. Considering the boom in online poker rooms this is probably a strategic move. Fortunately for short-term bears like us the rally stalled near short-term resistance in the $28.25 region. This may prove to be another entry point for shorts but watch for a dip back under $27.50 before initiating new plays. Our target is the $24.50-24.00 range.

Picked on July 21 at $27.21
Change since picked: + 0.77
Earnings Date 07/21/05 (confirmed)
Average Daily Volume: 2.3 million

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Juniper Networks - JNPR - cls: 24.13 chg: +1.03 stop: 25.61

JNPR spent the first half of the day stumbling around the $23.00 region. It wasn't until the afternoon market rally began that JNPR really began to take off. This looks like short-covering. Fortunately, JNPR still has overhead resistance at its exponential 200-dma near $24.17, plus more overhead resistance near $24.50, which would be the neckline to hits H&S pattern. Watch for a decline back below the $24.00 mark as a new bearish entry point.

Picked on July 21 at $23.90
Change since picked: + 0.23
Earnings Date 07/19/05 (confirmed)
Average Daily Volume: 7.5 million

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NS Group - NSS - close: 40.21 change: +2.26 stop: 40.01

No confirmation! Yesterday NSS produced a big bearish reversal pattern but there was no confirmation today. This puts our strategy in jeopardy. Fortunately, we remain on the sidelines without risk since we used a trigger to go short at $37.20. We'll leave the play open as a potential candidate for another day or two just to see if this bounce has any legs too it.

Picked on July xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 07/25/05 (confirmed)
Average Daily Volume: 353 thousand

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Sina.com - SINA - close: 27.30 change: -0.01 stop: 28.51

There was very little change in SINA today. The stock traded in a narrow 30-cent range (for two days in a row now). Our target is the $25.75-25.50 range (April lows).

Picked on June 30 at $27.90
Change since picked: - 0.60
Earnings Date 08/03/05 (unconfirmed)
Average Daily Volume: 1.4 million

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Triad Hosp. - TRI - close: 49.70 chg: +0.20 stop: 52.31

No change from our previous update on 7/25/05. As long as TRI trades under $50.00 we would be short the stock. Our target is the $45.50-45.00 range.

Picked on July 25 at $49.20
Change since picked: + 0.50
Earnings Date 07/25/05 (confirmed)
Average Daily Volume: 967 thousand
 

Closed Long Plays

None
 

Closed Short Plays

Amer. Axl & Mfg - AXL - close: 25.98 chg: +0.27 stop: 26.26

Time is up. We are closing the play in AXL to avoid holding over the company's earnings report due out tomorrow.

Picked on July 21 at $25.60
Change since picked: + 0.38
Earnings Date 07/28/05 (unconfirmed)
Average Daily Volume: 1.1 million

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FirstFed Financial - FED - cls: 62.89 chg: -0.56 stop: 65.05

Time has run out for our FED play too. The company is due to report earnings tomorrow and there are too many unknown variables that make it too dangerous to hold over the report. We're closing the play per our strategy.

Picked on July 21 at $62.60
Change since picked: + 0.29
Earnings Date 07/28/05 (confirmed)
Average Daily Volume: 118 thousand

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Par Pharma. - PRX - close: 28.00 chg: -0.22 stop: 29.01

Time has run out. PRX is expected to report earnings tomorrow and per our strategy we are exiting the play to avoid holding over the report. The stock did manage a surprising bounce this morning but the rally failed under the $29.00 level and shares were accelerating lower on rising volume into the close. This of course sets up for a painful reversal higher if the company manages to surprise the street.

Picked on July 14 at $29.96
Change since picked: - 1.96
Earnings Date 07/28/05 (confirmed)
Average Daily Volume: 661 thousand
 

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