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Long Play Updates

Alexander & Baldwin - ALEX - cls: 51.30 chg: +0.30 stop: 49.49

We see no change from our weekend update on ALEX. A bounce from the $51 level or the simple 50-dma could be used as a new bullish entry point.

Picked on August 31 at $52.41
Change since picked: - 1.11
Earnings Date 07/27/05 (confirmed)
Average Daily Volume: 310 thousand

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Ryerson Tull - RT - close: 20.90 change: -0.18 stop: 18.99

Was it you? Over the weekend we suggested that our readers look for a dip toward the $20.50 region and use a bounce from there as a new bullish entry point. That's exactly what happened today. RT opened higher but fell to the $20.50 mark only to quickly bounce higher on a new wave of volume. Our target is the $23.50-24.00 range.

Picked on August 31 at $20.54
Change since picked: + 0.36
Earnings Date 07/28/05 (confirmed)
Average Daily Volume: 486 thousand

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Smithfield Foods - SFD - close: 28.05 chg: -0.01 stop: 26.85

No change from our weekend update on SFD. The stock is still coiling for a bullish breakout over technical resistance near $28.25.

Picked on August 25 at $27.61
Change since picked: + 0.44
Earnings Date 08/25/05 (confirmed)
Average Daily Volume: 825 thousand
 

Short Play Updates

Anheuser Busch - BUD - cls: 45.27 chg: +0.18 stop: 46.25

BUD continued higher on Tuesday but closed off its highs for the session. The next level of overhead resistance is the $46.00 mark, bolstered by its simple 100-dma. A failed rally under $46 could be used as a new bearish entry point.

Picked on July 28 at $44.77
Change since picked: + 0.50
Earnings Date 07/27/05 (confirmed)
Average Daily Volume: 2.3 million

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Costco Wholesale - COST - close: 43.20 chg: +0.04 stop: 44.60

The good news here is that COST really did not participate in the broad market rally today. The bad news is that it didn't continue lower either. Shares are consolidating sideways in a narrow range. We would wait for a move under $42.50 before considering new bearish plays.

Picked on August 24 at $43.33
Change since picked: - 0.13
Earnings Date 10/06/05 (unconfirmed)
Average Daily Volume: 2.8 million

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Intl Game Tech. - IGT - cls: 27.20 chg: +0.22 stop: 28.01

This may prove to be another bearish entry point. IGT produced a failed rally under its 50-dma and the $27.50 mark. For more info see our weekend update.

Picked on July 21 at $27.21
Change since picked: - 0.01
Earnings Date 07/21/05 (confirmed)
Average Daily Volume: 2.3 million

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Juniper Networks - JNPR - cls: 23.35 chg: +0.19 stop: 24.01

An upgrade for larger rival CSCO lent the networking sector some strength today. That helped push JNPR towards resistance at its 23.50 level. We're not suggesting new plays at this moment. Wait for a drop back under $23.00.

Picked on July 21 at $23.90
Change since picked: - 0.55
Earnings Date 07/19/05 (confirmed)
Average Daily Volume: 7.5 million

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Royal Caribbean - RCL - cls: 42.30 chg: +0.39 stop: 45.01

RCL continues to under perform the market and its rival CCL. The stock gapped higher and traded to $43.08 before turning lower again. Our target is the $41.25-41.00.

Picked on July 27 at $45.50
Change since picked: - 3.20
Earnings Date 07/27/05 (confirmed)
Average Daily Volume: 1.3 million

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Wal-Mart - WMT - close: 45.69 change: +1.14 stop: 47.01

WMT reaffirmed its 2%-4% same-store sales growth despite still having 18 stores closed from hurricane Katrina. This news along with a drop in crude oil prices helped the stock produce a 2.55% oversold bounce. We've been warning readers to expect an oversold bounce and we think it has begun. We're watching for the oversold bounce to stall in the $46.00-46.50 range. A failed rally under $47 could be used as a new bearish entry point.

Picked on August 24 at $45.95
Change since picked: - 0.26
Earnings Date 08/16/05 (confirmed)
Average Daily Volume: 10.2 million

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Yellow Roadway - YELL - close: 46.61 chg: -0.27 stop: 50.01

YELL under performed the market and its peers in the transportation sector today. The fact that YELL failed to rally with the market as crude oil turned lower is very good news for the bears. Now we don't want to get too excited. If the transports mount a serious rally we expect YELL to eventually follow but right now YELL's relative weakness is a good sign.

Picked on September 04 at $46.88
Change since picked: - 0.27
Earnings Date 10/27/05 (unconfirmed)
Average Daily Volume: 1.2 million

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Yahoo! Inc. - YHOO - close: 33.68 change: +0.51 stop: 34.81

YHOO was caught up with the market's rally today and added 1.5% but volume came in pretty mild. Keep a close eye on the $34.00 level or its exponential 200-dma near 34.15 to act as overhead resistance. A failed rally under $34 could be used as a new bearish entry point.

Picked on August 30 at $33.18
Change since picked: - 0.50
Earnings Date 10/18/05 (unconfirmed)
Average Daily Volume: 17.1 million
 

Closed Long Plays

None
 

Closed Short Plays

None
 

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