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Long Play Updates

Smithfield Foods - SFD - close: 27.85 change: +0.17 stop: 26.35

There is no change from our previous update on SFD. Should shares of SFD pull back further we'd look to the $27.00 level to act as support. A bounce from $27.00 could be used as a new bullish entry point.

Picked on August 25 at $27.61
Change since picked: + 0.24
Earnings Date 08/25/05 (confirmed)
Average Daily Volume: 825 thousand
 

Short Play Updates

Anheuser Busch - BUD - cls: 44.31 chg: -0.15 stop: 46.25

No change from our weekend update on BUD. Our goal is the $40.00 region before its October earnings report.

Picked on July 28 at $44.77
Change since picked: - 0.46
Earnings Date 07/27/05 (confirmed)
Average Daily Volume: 2.3 million

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Costco Wholesale - COST - close: 43.40 chg: +0.36 stop: 44.60

We're going to keep a close eye on the $44.00 level. The intraday action today suggests that COST is going to rally higher tomorrow. If the stock trades over $44.00 we'll probably exit early to cut our losses as quickly as we can.

Picked on August 24 at $43.33
Change since picked: + 0.07
Earnings Date 10/06/05 (unconfirmed)
Average Daily Volume: 2.8 million

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Quest Diagnostic - DGX - close: 49.98 change: +0.06 stop: 50.51

Lack of participation in the market-wide rally today is a good sign for DGX but we are not suggesting new plays at this time. Only aggressive traders may want to consider a short-term entry if DGX trades under $49.40.

Picked on August 28 at $49.65
Change since picked: + 0.33
Earnings Date 07/25/05 (confirmed)
Average Daily Volume: 904 thousand

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Intl Game Tech. - IGT - cls: 27.72 chg: +0.28 stop: 28.01

Today's breakout over the $27.50 level could spell bad news for shorts in IGT. Yes, it's true that the stock does still have overhead resistance at the simple 50-dma (27.85) and again at the $28.00 level. Unfortunately, the technical picture is improving as well and suggests that IGT could rally higher. We are going to let our stop take us out but more conservative traders may want to consider an early exit here.

Picked on July 21 at $27.21
Change since picked: + 0.51
Earnings Date 07/21/05 (confirmed)
Average Daily Volume: 2.3 million

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Juniper Networks - JNPR - cls: 22.74 chg: +0.12 stop: 24.01

JNPR did not participate much in the market-wide rally today. Readers can watch for the $23.00 level to act as short-term overhead resistance. Our target is the $21.50 level.

Picked on July 21 at $23.90
Change since picked: - 1.16
Earnings Date 07/19/05 (confirmed)
Average Daily Volume: 7.5 million

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Jos. A. Bank - JOSB - close: 39.55 change: +0.29 stop: 40.01

There is no change from our previous update (Tuesday) for JOSB. The stock is showing dangerous amounts of strength and is challenging resistance near the $40.00 level and its 100-dma. We are not suggesting new positions.

Picked on August 16 at $39.95
Change since picked: - 0.40
Earnings Date 09/06/05 (confirmed)
Average Daily Volume: 297 thousand

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Maverick Tube - MVK - close: 31.85 chg: +1.41 stop: 32.51

Danger! MVK rallied sharply today and completely erased Tuesday's losses. Yesterday is starting to look like a bear trap and we took the bait. If you entered positions this morning we would strongly consider exiting now to avoid further losses. The stock will probably test resistance near the $32.50 level. We are not suggesting new plays!

Picked on August 30 at $30.44
Change since picked: + 1.41
Earnings Date 10/25/05 (unconfirmed)
Average Daily Volume: 741 thousand

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Royal Caribbean - RCL - cls: 42.72 chg: -0.69 stop: 45.51 *new*

Shares of RCL continue to display relative weakness and failed to join the rest of the market in today's rally. Volume came in above average on today's 1.58% decline, which suggests more weakness ahead. Our target is the $41.25-41.00 range. We are lowering our stop loss to $45.51.

Picked on July 27 at $45.50
Change since picked: - 2.78
Earnings Date 07/27/05 (confirmed)
Average Daily Volume: 1.3 million

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Sonic Corp - SONC - close: 30.59 chg: -0.25 stop: 32.01

SONC displayed relative weakness today by failing to join the market-wide rally. The stock dipped under its exponential 200-dma intraday but bounced from last week's low near $30.30. We see no changes from our previous update (Tuesday).

Picked on August 24 at $30.39
Change since picked: + 0.20
Earnings Date 09/26/05 (unconfirmed)
Average Daily Volume: 537 thousand

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Wal-Mart - WMT - close: 44.96 change: -0.23 stop: 48.01

We are encouraged to see WMT still sinking but we want to warn readers that the stock will bounce and probably sooner rather than later. We'd wait to see how high it bounces before considering new positions. A failed rally at the 10-dma near $46 might work. Our late September target is the $42.25-42.00 range.

Picked on August 24 at $45.95
Change since picked: - 0.99
Earnings Date 08/16/05 (confirmed)
Average Daily Volume: 10.2 million

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Yahoo! Inc. - YHOO - close: 33.32 change: +0.14 stop: 34.81

YHOO continues to under perform the market and its peers. We see no changes from our play description on Tuesday night. Our target is the $30.50 level. More conservative traders may want to wait for a decline under $32.65 before considering positions.

Picked on August 30 at $33.18
Change since picked: + 0.14
Earnings Date 10/18/05 (unconfirmed)
Average Daily Volume: 17.1 million
 

Closed Long Plays

None
 

Closed Short Plays

Freeport Mcmoran - FCX - close: 42.17 chg: +1.01 stop: 42.01

Gold and mining stocks really surged today and FCX was helping lead the way higher. Almost anything commodity related was headed higher. Investors digested news that New Orleans as a city and as a port for the country would likely be shut down for months. Plus, the rebuilding efforts would put new demand on copper, which is already trading near record highs. FCX's breakout over the $42.00 level suggests the stock is headed toward previous resistance in the $43.50 region.

Picked on August 29 at $39.65
Change since picked: + 2.52
Earnings Date 07/19/05 (confirmed)
Average Daily Volume: 2.2 million
 

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