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Long Play Updates

Alexander & Baldwin - ALEX - cls: 52.22 chg: -0.19 stop: 49.49

We see no changes from yesterday's play description on ALEX. Readers might want to watch for a dip back toward $51.00 or even $50.50 and buy a bounce. Our target is the $56-57 range.

Picked on August 31 at $52.41
Change since picked: - 0.19
Earnings Date 07/27/05 (confirmed)
Average Daily Volume: 310 thousand

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Ryerson Tull - RT - close: 20.89 change: +0.35 stop: 18.99

RT is off to a strong start with another 1.7% gain today. The rally did stall under the $21.00 level. Readers can choose to go long here or hope for a pull back toward the $20.00-20.50 region and buy a bounce. Our target is the $23.50-24.00 range.

Picked on August 31 at $20.54
Change since picked: + 0.35
Earnings Date 07/28/05 (confirmed)
Average Daily Volume: 486 thousand

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Smithfield Foods - SFD - close: 28.08 change: +0.23 stop: 26.35

The consolidation in shares of SFD appears to be coiling for a breakout over resistance at its exponential 200-dma and 100-dma, which have come together at the 28.25 region. Our target is the $29.25-29.50 range near its simple 200-dma.

Picked on August 25 at $27.61
Change since picked: + 0.47
Earnings Date 08/25/05 (confirmed)
Average Daily Volume: 825 thousand
 

Short Play Updates

Anheuser Busch - BUD - cls: 44.40 chg: +0.09 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: - 0.37
Earnings Date 07/27/05 (confirmed)
Average Daily Volume: 2.3 million

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Costco Wholesale - COST - close: 43.18 chg: -0.22 stop: 44.60

COST displayed some volatility today. The company reported same store sales that came in above analysts' expectations thanks to higher gasoline prices and that sent the stock to a high of $44.18. Fortunately for us the rally quickly stalled and this may prove to be a new bearish entry point for aggressive traders. We would probably wait for a decline under the $42.50 before considering new positions.

Picked on August 24 at $43.33
Change since picked: - 0.15
Earnings Date 10/06/05 (unconfirmed)
Average Daily Volume: 2.8 million

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Quest Diagnostic - DGX - close: 50.20 change: +0.22 stop: 50.51

DGX is still vacillating between the $49.50-50.50 with today's rally stalling near the simple 200-dma. We are not suggesting new positions at this time. Aggressive traders might want to consider shorts if DGX trades under $49.40.

Picked on August 28 at $49.65
Change since picked: + 0.55
Earnings Date 07/25/05 (confirmed)
Average Daily Volume: 904 thousand

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Intl Game Tech. - IGT - cls: 27.30 chg: -0.42 stop: 28.01

Good news! IGT failed to breakout over resistance at the $28.00 level. While we are not suggesting new bearish positions at this time it does look like a new entry point. Our target is the $24.50-24.00 level but IGT has short-term support at $27.00 and again at $26.50.

Picked on July 21 at $27.21
Change since picked: + 0.09
Earnings Date 07/21/05 (confirmed)
Average Daily Volume: 2.3 million

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Juniper Networks - JNPR - cls: 23.02 chg: +0.28 stop: 24.01

JNPR's oversold bounce is now challenging resistance at the $23.00 level. We see no changes from our previous update. Our target is the $21.50 level.

Picked on July 21 at $23.90
Change since picked: - 0.88
Earnings Date 07/19/05 (confirmed)
Average Daily Volume: 7.5 million

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Royal Caribbean - RCL - cls: 41.92 chg: -0.80 stop: 45.01*new*

RCL continues to sink and hit new relative lows on above average volume today. The stock is nearing our target in the $41.25-41.00 range. We are lowering our stop loss to $45.01.

Picked on July 27 at $45.50
Change since picked: - 3.58
Earnings Date 07/27/05 (confirmed)
Average Daily Volume: 1.3 million

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Sonic Corp - SONC - close: 28.99 chg: -1.60 stop: 32.01

Look out below! Shares of SONC lost over 5.2% on very heavy volume today. The stock has now broken down below technical support at its exponential 200-dma and round-number support at the $30.00 mark. We suspect the big sell-off is being fueled by investors worried about the impact of hurricane Katrina will have on SONC's sales. The company said about sixty drive-ins have been shutdown across Alabama, Mississippi and Louisiana. Our target is the $28.00 level.

Picked on August 24 at $30.39
Change since picked: - 1.40
Earnings Date 09/26/05 (unconfirmed)
Average Daily Volume: 537 thousand

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Wal-Mart - WMT - close: 45.00 change: +0.04 stop: 48.01

We see no change from our previous update on WMT. We're still expecting an oversold bounce toward the $46.00 level even through this would push WMT above technical resistance at its 10-dma. Our late September target is the $42.25-42.00 range.

Picked on August 24 at $45.95
Change since picked: - 0.95
Earnings Date 08/16/05 (confirmed)
Average Daily Volume: 10.2 million

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Yahoo! Inc. - YHOO - close: 33.24 change: -0.08 stop: 34.81

We see no changes from our previous updates on YHOO. The stock continues to under perform and the trend remains bearish but more conservative traders might want to wait for a decline under $33.00 before considering new shorts.

Picked on August 30 at $33.18
Change since picked: + 0.06
Earnings Date 10/18/05 (unconfirmed)
Average Daily Volume: 17.1 million
 

Closed Long Plays

None
 

Closed Short Plays

Jos. A. Bank - JOSB - close: 41.57 change: +2.02 stop: 40.01

Ouch! JOSB turned in some very strong August sales numbers today. Same-store sales rose about 12.9% while overall sales surged almost 30%. The news prompted one analyst to upgrade the stock. Shares gapped higher to open at $42.80 immediately stopping us out.

Picked on August 16 at $39.95
Change since picked: + 1.62
Earnings Date 09/06/05 (confirmed)
Average Daily Volume: 297 thousand

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Maverick Tube - MVK - close: 33.08 chg: +1.23 stop: 32.51

Bear trap complete! Looks like we weren't the only one asking the question about why MVK was under performing given the current environment for oil. We suggested shorts on what looked like a major breakdown this Tuesday. The stock quickly reversed and today's gain pushed the stock through our stop loss at $32.51.

Picked on August 30 at $30.44
Change since picked: + 2.64
Earnings Date 10/25/05 (unconfirmed)
Average Daily Volume: 741 thousand
 

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