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Long Play Updates

LM Ericsson - ERICY - close: 34.65 chg: -0.54 stop: 32.99

We see no change from our previous update on Wednesday. ERICY dipped with the market. Traders may want to sit back and wait for a dip toward the $34.00 region. A bounce from $34.00 could be used as a new bullish entry point.

Picked on August 03 at $35.19
Change since picked: - 0.54
Earnings Date 07/21/05 (confirmed)
Average Daily Volume: 1.9 million

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Kerzner Intl - KZL - close: 60.30 chg: -0.68 stop: 58.99

We only have a couple of trading days left before we exit KZL ahead of its earnings report. Today's action doesn't bode well for the bulls. More conservative traders may want to strongly consider exiting now given the weakness in the major indices. Or consider raising their stop loss to $59.49.

Picked on July 22 at $61.01
Change since picked: - 0.71
Earnings Date 08/09/05 (confirmed)
Average Daily Volume: 154 thousand
 

Short Play Updates

Adobe Systems - ADBE - close: 27.03 change: -1.07 stop: 30.41

ADBE continues to look weak. Today's 3.8 percent drop was fueled by heavy volume about twice the daily average. Thursday's decline also helped confirm the recent MACD sell signal. We do believe ADBE is going to move lower but we don't feel like chasing it right here. We're going to watch for a bounce back into the $28.00-28.50 region as a potential entry point to open new short positions. FYI: if ADBE trades under the $26 mark it will produce a new triple-bottom breakdown sell signal on its P&F chart, which already points to a $19 target. Currently we are not suggesting an entry just yet but more aggressive traders may want to consider positions now given the high-volume sell-off.

Picked on July xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 09/15/05 (unconfirmed)
Average Daily Volume: 6.8 million

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Air T, Inc. - AIRT - close: 13.99 change: +0.15 stop: 15.01

AIRT bounced back toward the $14.50 level today but couldn't hold its gains. This looks like a new entry point for bearish positions. We are targeting the January lows (12.10-12.00).

Picked on August 03 at $13.84
Change since picked: + 0.15
Earnings Date 06/17/05 (confirmed)
Average Daily Volume: 289 thousand

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A.S.V.Inc - ASVI - close: 48.02 chg: -0.54 stop: 49.01

There is no change from our previous update. We are not suggesting new positions at this time although aggressive traders may want to consider it on a decline under today's low (47.34).

Picked on July 28 at $45.87
Change since picked: + 2.15
Earnings Date 07/28/05 (confirmed)
Average Daily Volume: 120 thousand

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ATI Tech. - ATYT - close: 12.55 change: -0.21 stop: 13.41

The SOX semiconductor index is finally showing some profit taking and that helped ATYT to another 1.6% loss. Our target is the $11.50-11.20 range.

Picked on July 17 at $12.83
Change since picked: - 0.28
Earnings Date 09/22/05 (unconfirmed)
Average Daily Volume: 5.9 million

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Biogen Idec - BIIB - close: 39.48 chg: -1.21 stop: 40.01

The BTK biotech index is finally seeing some profit taking. This helped BIIB to a 2.9% loss today. The move back under the $40.00 level, which should have acted as support, has revived our interest in the stock as a bearish candidate. We're sticking to our plan to only short the stock on a drop below $38.00 (entry 37.99) but more aggressive traders may want to consider positions here or under $39.00.

Picked on July xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 07/26/05 (confirmed)
Average Daily Volume: 4.6 million

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Anheuser Busch - BUD - cls: 44.40 chg: +0.08 stop: 46.25

Remember, BUD does not move very fast so there is not going to be a lot of updates on this play. See our weekend update for more details. Our ten-to-twelve week target is the $40.25-40.00 range.

Picked on July 28 at $44.77
Change since picked: - 0.37
Earnings Date 07/27/05 (confirmed)
Average Daily Volume: 2.3 million

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Intl Game Tech. - IGT - cls: 27.28 chg: -0.26 stop: 29.01

If you look at the intraday chart it looks like the high for the day was only $27.58 but the daily stats show a bad tick at $27.92. Whichever price you choose to believe they both look like a new opportunity for traders to short the stock. More conservative traders may want to lower their stops to just over the $28.00 level. Our target is the $24.50-24.00 range.

Picked on July 21 at $27.21
Change since picked: + 0.07
Earnings Date 07/21/05 (confirmed)
Average Daily Volume: 2.3 million

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Juniper Networks - JNPR - cls: 23.79 chg: -0.69 stop: 25.61

Today's 2.8% decline looks like a nice bearish reversal under resistance. Plus, JNPR has traded back under the $24.00 level and our suggested entry point for new plays at $23.90. We repeat, this is a new entry point to short the stock but remember the upcoming risk is any unexpected positive news from CSCO's earnings report on August 9th. Our target for JNPR is $21.50-21.00.

Picked on July 21 at $23.90
Change since picked: - 0.11
Earnings Date 07/19/05 (confirmed)
Average Daily Volume: 7.5 million

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Royal Caribbean - RCL - cls: 45.74 chg: +0.54 stop: 48.01

Heads up! RCL displayed some unusual strength today. The stock dipped to a new relative low this afternoon and then immediately surged higher on a flood of volume in the last hour or so. This is warning sign for bears. Watch the $46.00 level carefully where RCL should have technical resistance at its 10-dma and the exponential 200-dma.

Picked on July 27 at $45.50
Change since picked: + 0.24
Earnings Date 07/27/05 (confirmed)
Average Daily Volume: 1.3 million

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Triad Hosp. - TRI - close: 49.57 chg: -0.25 stop: 52.01

No change here. TRI continues to consolidate sideways and spent the session in a relatively tight 50-cent range. However, it's worth noting that TRI slid lower most of the day and is very close to our suggested entry for new positions at $49.50 (actually under $49.50). Our target is the $45.50-45.00 range or the simple 200-dma.

Picked on July 25 at $49.20
Change since picked: + 0.37
Earnings Date 07/25/05 (confirmed)
Average Daily Volume: 967 thousand
 

Closed Long Plays

None
 

Closed Short Plays

None
 

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