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Long Play Updates

Alexander & Baldwin - ALEX - cls: 50.80 chg: -0.50 stop: 49.90*new

ALEX's breakout from late August has completely lost momentum. Shares dipped to its simple 50-dma this morning and managed a very meager bounce. The action on the intraday chart does not look healthy and we're expecting ALEX to test support at the $50.00 level soon. More conservative traders may want to exit early if ALEX trades under the $50.50 mark. We are raising our stop loss to $49.90.

Picked on August 31 at $52.41
Change since picked: - 1.61
Earnings Date 07/27/05 (confirmed)
Average Daily Volume: 310 thousand

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Ryerson Tull - RT - close: 21.19 change: +0.29 stop: 19.49*new*

RT gapped higher this morning but spent the rest of the session in a very tight range. The overall trend remains bullish but any stall in its upward momentum might suggest a retest of support near $20.00 in the intermediate future. We are raising the stop loss to $19.49. Our target is the $23.50-24.00 range.

Picked on August 31 at $20.54
Change since picked: + 0.65
Earnings Date 07/28/05 (confirmed)
Average Daily Volume: 486 thousand

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Smithfield Foods - SFD - close: 28.00 chg: -0.05 stop: 26.85

There is virtually no change in SFD. The stock continues to consolidate under technical resistance at its 100-dma and exponential 200-dma near $28.25.

Picked on August 25 at $27.61
Change since picked: + 0.39
Earnings Date 08/25/05 (confirmed)
Average Daily Volume: 825 thousand
 

Short Play Updates

Anheuser Busch - BUD - cls: 45.09 chg: -0.18 stop: 46.25

BUD hit some profit taking this morning but there were bulls there to buy this dip. We suspect that BUD is going to make a run towards resistance near $46.00 and its simple 100-dma. We're not suggesting new positions at this time.

Picked on July 28 at $44.77
Change since picked: + 0.32
Earnings Date 07/27/05 (confirmed)
Average Daily Volume: 2.3 million

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Intl Game Tech. - IGT - cls: 27.33 chg: +0.13 stop: 28.01

Shares of Shuffle Master (SHFL) were up noticeably (+17%) following some positive earnings guidance and that gave the casino-related stocks a very positive bias. Shares of IGT only managed a 13-cent gain and remains under resistance but the overall environment has us feeling cautious.

Picked on July 21 at $27.21
Change since picked: + 0.12
Earnings Date 07/21/05 (confirmed)
Average Daily Volume: 2.3 million

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Juniper Networks - JNPR - cls: 23.80 chg: +0.45 stop: 24.01

Shares of CSCO continued to rally following yesterday's upgrade and the whole networking sector turned in a very strong gain with the NWX index up 2.4%. JNPR paced the move with a 1.9% rally but stalled under resistance at the $24.00 level. We are not suggesting new plays at this time although more aggressive traders might consider shorting JNPR with a failed rally under $24.00.

Picked on July 21 at $23.90
Change since picked: - 0.10
Earnings Date 07/19/05 (confirmed)
Average Daily Volume: 7.5 million

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Royal Caribbean - RCL - cls: 42.45 chg: +0.15 stop: 45.01

RCL continues to under perform the market and its rival CCL. It is interesting to note that volume is rising. The action in RCL is a very tight tug-of-war between the bulls and bears as RCL oscillates between $42 and $43. We are lowering our stop loss to $44.11. Our target is the $41.25-41.00.

Picked on July 27 at $45.50
Change since picked: - 3.05
Earnings Date 07/27/05 (confirmed)
Average Daily Volume: 1.3 million

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Wal-Mart - WMT - close: 45.86 change: +0.17 stop: 47.01

There is no change from our previous update on WMT. We continue to look for the stock to bounce into the $46.00-46.50 range. We would not suggest new plays until we see a failed rally under $47.00. Right now WMT's technicals are starting to turn positive because the stock is so oversold. In the news WMT's CEO told Wall Street that the company plans to be very competitive with steep discounts to lure in customers during the holiday shopping season this year.

Picked on August 24 at $45.95
Change since picked: - 0.09
Earnings Date 08/16/05 (confirmed)
Average Daily Volume: 10.2 million

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Yellow Roadway - YELL - close: 46.56 chg: -0.05 stop: 50.01

There is no change from our previous update on YELL. The stock continues to look weak. YELL actually looks oversold but there has not been much success with the recent oversold bounce. We remain bearish with the stock under $48.00.

Picked on September 04 at $46.88
Change since picked: - 0.32
Earnings Date 10/27/05 (unconfirmed)
Average Daily Volume: 1.2 million

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Yahoo! Inc. - YHOO - close: 34.06 change: +0.38 stop: 34.81

This is an important test for shares of YHOO. The stock rallied higher following a surge in the Internet sector today. YHOO hit an intraday high of $34.25 before turning lower this afternoon. This looks like a failed rally under its simple 50-dma and its exponential 200-dma. However, before readers consider new bearish positions we want to see some confirmation that YHOO will indeed turn lower. Wait for a decline back under $33.30 (today's low) or even $33.00 before initiating new shorts.

Picked on August 30 at $33.18
Change since picked: + 0.88
Earnings Date 10/18/05 (unconfirmed)
Average Daily Volume: 17.1 million
 

Closed Long Plays

None
 

Closed Short Plays

Costco Wholesale - COST - close: 43.31 chg: +0.11 stop: 44.60

We are going to close the COST play early. The stock is not participating in the retail stock rebound but neither is it moving our direction. Considering the current market environment we'd rather exit now and look for new plays elsewhere. More aggressive traders can keep COST on their list of candidates as the P&F chart does point to a $33 target.

Picked on August 24 at $43.33
Change since picked: - 0.02
Earnings Date 10/06/05 (unconfirmed)
Average Daily Volume: 2.8 million
 

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