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Long Play Updates

None
 

Short Play Updates

Assured Guaranty - AGO - close: 22.07 chg: +0.20 stop: 23.26

No big surprises here. AGO bounced from the bottom of its trading range. Yet it appears to have produced a new lower high with this afternoon's roll over. Our target is the $20.50-20.00 range.

Picked on August 10 at $22.39
Change since picked: - 0.32
Earnings Date 08/04/05 (confirmed)
Average Daily Volume: 229 thousand

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Anheuser Busch - BUD - cls: 44.25 chg: +0.05 stop: 46.25

We're thinking about nicknaming this the "patience of Job" play. BUD continues to consolidate sideways between $44.00 and $45.00. Longer-term trends are bearish and we're targeting a decline toward $40 before its October earnings report.

Picked on July 28 at $44.77
Change since picked: - 0.52
Earnings Date 07/27/05 (confirmed)
Average Daily Volume: 2.3 million

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Costco Wholesale - COST - close: 43.41 chg: +0.08 stop: 44.60

COST is a new play from the Wednesday newsletter. We see no changes in our strategy with today's 8-cent gain. Our target is the $40.50-40.00 range. Remember, we're trying to keep a relatively tight stop loss.

Picked on August 24 at $43.33
Change since picked: + 0.08
Earnings Date 10/06/05 (unconfirmed)
Average Daily Volume: 2.8 million

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Hansen Natural - HANS - close: 45.16 chg: +1.98 stop: 47.51

HANS is producing more volatility. The stock gapped higher this morning and rallied toward the $46 level. The move was fueled by news out this morning. Standard and Poors has announced that HANS will replace Argosy Gaming Co. (AGY) in the S&P SmallCap 600 index. Unfortunately, the date the switch will be made has not yet been announced. This is bad news for the bears and traders trying to capture some much overdue profit taking. We're inclined to exit here and just cut our losses. However, we're going to give HANS one more day to see if there is any follow through on this news since the stock failed to push past Tuesday's high.

Picked on August 10 at $43.37
Change since picked: + 1.79
Earnings Date 08/09/05 (confirmed)
Average Daily Volume: 1.1 million

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Intl Game Tech. - IGT - cls: 26.62 chg: -0.12 stop: 28.51

There is nothing new to report for IGT. The multi-week trend of lower highs remains intact. Our target is the $24.50-24.00 range.

Picked on July 21 at $27.21
Change since picked: - 0.59
Earnings Date 07/21/05 (confirmed)
Average Daily Volume: 2.3 million

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Juniper Networks - JNPR - cls: 23.34 chg: -0.22 stop: 24.70

JNPR is still churning sideways in its three-week trading range. We're not suggesting new plays at this time. More conservative traders may want to adjust their stops toward the $24.00 level.

Picked on July 21 at $23.90
Change since picked: - 0.56
Earnings Date 07/19/05 (confirmed)
Average Daily Volume: 7.5 million

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Jos. A. Bank - JOSB - close: 39.02 change: +1.24 stop: 40.01

Hmm... JOSB is not cooperating. The stock surged higher and hit $39.87 this morning after the company issued a press release early this morning about its plans to open 46 new stores this year. JOSB has a lot of short interest (about 30% of the float) and this press release appears to have spooked some of the bears into covering. The rally did stall at round-number, psychological resistance at the $40.00 level but the intraday action does not look positive if you're bearish. We are not suggesting new plays here. More conservative types may want to exit right here to avoid any future losses. We're going to give JOSB one more day to see if there is any follow through on this rebound.

Picked on August 16 at $39.95
Change since picked: - 0.93
Earnings Date 09/06/05 (confirmed)
Average Daily Volume: 297 thousand

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O M I Corp - OMM - close: 17.21 change: -0.21 stop: 18.01

The good news today is that there was not any follow through on yesterday's bullish breakout. Readers might want to consider new bearish positions only if OMM trades back under the $17.00 level.

Picked on August 14 at $17.20
Change since picked: + 0.01
Earnings Date 07/25/05 (confirmed)
Average Daily Volume: 1.4 million

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Royal Caribbean - RCL - cls: 44.02 chg: -0.46 stop: 47.01

RCL continues to turn lower after Tuesday's failed rally. Our target is the $41.25-41.00 range.

Picked on July 27 at $45.50
Change since picked: - 1.48
Earnings Date 07/27/05 (confirmed)
Average Daily Volume: 1.3 million

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Sonic Corp - SONC - close: 31.15 chg: +0.76 stop: 32.01

Traders may want to take a step back here. SONC surged higher adding 2.5% on above average volume. This morning the company issued a press release saying it plans to buy 15 restaurants from a franchisee. Plus, the company reaffirmed its 2005 guidance. This news appears to have prompted one analyst firm to upgrade SONC to a "buy" rating. The stock does remain under resistance at the top of its descending channel and under resistance at its 200-dma. Yet we're not suggesting new plays. Wait for the rally to fail or look for a drop below $30.25 before considering new short positions.

Picked on August 24 at $30.39
Change since picked: + 0.76
Earnings Date 09/26/05 (unconfirmed)
Average Daily Volume: 537 thousand

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Wal-Mart - WMT - close: 45.29 change: -0.26 stop: 48.01

No bounce yet! WMT continues to sink after yesterday's breakdown below support at the $46.00 level. We do believe the Dow-component will eventually bounce and traders who prefer to short a failed rally can watch for a rebound toward the $46.50 region. Our target is the $42.25-42.00 range.

Picked on August 24 at $45.95
Change since picked: - 0.66
Earnings Date 08/16/05 (confirmed)
Average Daily Volume: 10.2 million

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Xilinx - XLNX - close: 27.26 chg: +0.07 stop: 28.01

We see no change from our previous update. We're not suggesting new plays. Our target is the $26.10-26.00 range.

Picked on August 04 at $27.91
Change since picked: - 0.65
Earnings Date 07/21/05 (confirmed)
Average Daily Volume: 6.1 million
 

Closed Long Plays

LM Ericsson - ERICY - close: 33.83 chg: -0.38 stop: 33.75

We are stopped out. The recent weakness in ERICY continued on Thursday and the stock has now broken support at the $34.00 level, its simple 50-dma and the bottom of its rising channel. We have been stopped out at $33.75. Today's decline might be viewed as a bearish entry point.

Picked on August 03 at $35.19
Change since picked: - 1.36
Earnings Date 07/21/05 (confirmed)
Average Daily Volume: 1.9 million
 

Closed Short Plays

None
 

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