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In Play Updates and Reviews

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Long Play Updates

Forest Labs - FRX - close: 44.24 chg: -0.60 stop: 41.99

We see no changes from our previous update on FRX. Aggressive traders might want to consider longs on a bounce from $44.00. Conservative traders can wait for a new relative high over $45.20.

Picked on September 14 at $45.11
Change since picked: - 0.87
Earnings Date 10/17/05 (unconfirmed)
Average Daily Volume: 1.7 million


Idex Corp - IEX - close: 44.62 change: -0.21 stop: 41.99

IEX dipped toward support at the $44.00 level but bulls were there to buy the dip at its 10-dma. This looks like a new bullish entry point but traders might want to be cautious considering new longs with the major averages acting weak.

Picked on September 11 at $44.43
Change since picked: 0.19
Earnings Date 10/20/05 (unconfirmed)
Average Daily Volume: 232 thousand


Rowan Cos - RDC - close: 36.43 chg: 0.12 stop: 34.95

RDC displayed a little bit of volatility today but we would still consider new bullish positions here above $36.00. Our target is the $39.50-40.00 range.

Picked on September 14 at $36.31
Change since picked: 0.12
Earnings Date 11/01/05 (unconfirmed)
Average Daily Volume: 2.1 million


Radian Group - RDN - close: 52.11 chg: 0.57 stop: 49.99

RDN continued yesterday's afternoon bounce and looks poised to hit new two-week highs. Our early October target is the $54.00-54.25 range.

Picked on September 07 at $51.10
Change since picked: 1.01
Earnings Date 10/19/05 (unconfirmed)
Average Daily Volume: 518 thousand


Ryerson Tull - RT - close: 21.20 change: 0.10 stop: 19.49

Unfortunately RT continues to churn sideways. Should the stock see any profit taking look for the $20.50 region to act as support.

Picked on August 31 at $20.54
Change since picked: 0.66
Earnings Date 07/28/05 (confirmed)
Average Daily Volume: 486 thousand

Short Play Updates

Anheuser Busch - BUD - cls: 45.05 chg: -0.22 stop: 46.25

There is no change from our weekend update on BUD.

Picked on July 28 at $44.77
Change since picked: 0.28
Earnings Date 07/27/05 (confirmed)
Average Daily Volume: 2.3 million


Intl Game Tech. - IGT - cls: 27.21 chg: 0.30 stop: 28.01

We are running low on patience for shares of IGT. The stock continued yesterday's afternoon bounce today. If IGT breaks out over its simple 50-dma near $27.55 we are going to close this play early.

Picked on July 21 at $27.21
Change since picked: - 0.00
Earnings Date 07/21/05 (confirmed)
Average Daily Volume: 2.3 million


Nautilus Inc. - NLS - close: 23.40 chg: -0.40 stop: 26.10

It looks like there was some panic selling this morning as investors noticed that the stock has broken down from its long-term rising channel (and trendline of support). NLS dropped to $21.85 but the stock rebounded sharply erasing most of its losses. Volume was very heavy. We suspect that NLS could produce an oversold bounce tomorrow. The $25.00 level should now act as overhead resistance and readers can use a failed rally under $25.00 as a new bearish entry point. Our target is the $20.50-20.00 range before its late October earnings report.

Picked on September 14 at $23.80
Change since picked: - 0.40
Earnings Date 10/25/05 (unconfirmed)
Average Daily Volume: 363 thousand


Wal-Mart - WMT - close: 44.32 change: -0.38 stop: 46.55

Shares of the world's largest retailer sank to a new 52-week low today. Technicals look increasingly more bearish and the stock might reach our target in the 42.25-42.00 range before the end of the month. Bob Pisani, on CNBC, had some interesting comments today regarding WMT and a S&P rebalancing that would force funds to unload some of their WMT positions.

Picked on August 24 at $45.95
Change since picked: - 1.53
Earnings Date 08/16/05 (confirmed)
Average Daily Volume: 10.2 million


Fincl. Sel. SPDR - XLF - close: 29.70 chg: 0.02 stop: 30.01

XLF didn't move much on Thursday so we see no changes from our previous update.

Picked on September 13 at $29.71
Change since picked: - 0.01
Earnings Date 00/00/00 (unconfirmed)
Average Daily Volume: 5.8 million


YUM Brands - YUM - close: 49.99 change: 0.52 stop: 51.01

YUM is producing a bit of a bounce from its simple 200-dma. A failed rally under $50.25 could be used as a new bearish entry point. Our target is the $48.00 level.

Picked on September 13 at $49.98
Change since picked: 0.01
Earnings Date 10/12/05 (unconfirmed)
Average Daily Volume: 1.2 million

Closed Long Plays

Dow Chemical - DOW - close: 43.52 change: -0.72 stop: 42.79

Today's drop under the $44.00 level was our cue to run for the exits. Investors were not impressed by news that DOW was going to restructure its businesses from three divisions to two divisions. Nor was the market impressed by news that DOW would be raising prices. We're exiting early to minimize our losses. DOW does still have additional support near the $42.80 level but we'd rather jump out now and watch for a new bounce to form later that we can re-evaluate.

Picked on September 07 at $44.60
Change since picked: - 1.08
Earnings Date 10/27/05 (unconfirmed)
Average Daily Volume: 4.1 million

Closed Short Plays


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