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Long Play Updates

Idex Corp - IEX - close: 43.72 change: -0.89 stop: 41.99

Uh-oh! This does not look good. The post Fed-decision sell-off pulled shares of IEX under support at the $44.00 level. Technicals were already weakening and have now turned south and its MACD has produced a new sell signal. This is where more conservative traders may want to exit early to minimize any losses. We still like the longer-term trend for IEX and will watch to see if the stock rebounds from technical support at its simple 50-dma. We are not suggesting new plays.

Picked on September 11 at $44.43
Change since picked: - 0.71
Earnings Date 10/20/05 (unconfirmed)
Average Daily Volume: 232 thousand

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Mckesson - MCK - close: 45.69 chg: -0.47 stop: 44.85

An analyst reiterated their "buy" rating on MCK but it was not enough to help MCK buck the trend. Instead shares sold off with the rest of the market following the decision on interest rates. Volume continues to come in low on the recent weakness and that's a good thing but we remain cautious. Watch for a bounce from the $45.00 level as a potential bullish entry point but keep in mind we would not initiate new long positions if the major indices are declining. More conservative traders can wait for a new relative high over $46.60 before considering new positions.

Picked on September 18 at $46.47
Change since picked: - 0.78
Earnings Date 10/20/05 (unconfirmed)
Average Daily Volume: 1.5 million

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Rowan Cos - RDC - close: 37.28 chg: -0.21 stop: 35.25

We see no changes from our previous update on RDC. The 36.50-37.00 range should offer new support. Our target is the $39.50-40.00 range.

Picked on September 14 at $36.31
Change since picked: + 0.97
Earnings Date 11/01/05 (unconfirmed)
Average Daily Volume: 2.1 million

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Radian Group - RDN - close: 52.08 chg: +0.26 stop: 49.99

RDN tried to buck the market's weakness today with an early morning rally. Shares did manage to close in the green but also closed near their lows for the session. Watch the 50-dma to act as short-term support. We would not suggest new plays at the moment.

Picked on September 07 at $51.10
Change since picked: + 0.98
Earnings Date 10/19/05 (unconfirmed)
Average Daily Volume: 518 thousand


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Ryerson Tull - RT - close: 20.81 change: -0.36 stop: 19.75*new*

We are finally starting to see some profit taking in RT. Shares sold off with the rest of the market this afternoon and broke support at the $21.00 level. Watch for a bounce near $20.50 or worse case near $20.00. We are raising our stop loss to $19.75.

Picked on August 31 at $20.54
Change since picked: + 0.37
Earnings Date 07/28/05 (confirmed)
Average Daily Volume: 486 thousand

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Steel Dynamics - STLD - close: 32.32 chg: -0.87 stop: 31.49

STLD tried to rally this morning but ran out of strength at the $34.00 level. The close back under the simple 200-dma is not a good sign. Watch for support at the 50-dma (32.11) or at the exponential 200-dma (31.77). Aggressive traders could use a bounce from either as a new bullish entry point. We would not suggest new bullish positions at this time with the major market averages turning lower.

Picked on September 18 at $33.91
Change since picked: - 1.59
Earnings Date 10/18/05 (unconfirmed)
Average Daily Volume: 1.2 million
 

Short Play Updates

Anheuser Busch - BUD - cls: 44.92 chg: -0.05 stop: 46.25

We see no change from our weekend update on BUD.

Picked on July 28 at $44.77
Change since picked: + 0.15
Earnings Date 10/26/05 (confirmed)
Average Daily Volume: 2.3 million

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Nautilus Inc. - NLS - close: 23.29 chg: -0.63 stop: 25.11

Thus far NLS as performed as we expected. Previous support at $25.00 and its 200-dma are now acting as overhead resistance. Our target is the $20.50-20.00 range.

Picked on September 14 at $23.80
Change since picked: - 0.51
Earnings Date 10/25/05 (unconfirmed)
Average Daily Volume: 363 thousand

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Wal-Mart - WMT - close: 43.21 change: -0.80 stop: 46.05

Shares of WMT sank to new three-year lows on Tuesday. The stock lost a sharp 1.8% on volume that was more than twice its average. We continue to target the $42.50 mark.

Picked on August 24 at $45.95
Change since picked: - 2.74
Earnings Date 08/16/05 (confirmed)
Average Daily Volume: 10.2 million

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YUM Brands - YUM - close: 49.50 change: -0.37 stop: 51.01

YUM sinks back toward the top of its gap and technical support at the 200-dma. Looking at the technicals the stock looks poised to move lower. Our target is the $48.00 level.

Picked on September 13 at $49.98
Change since picked: - 0.48
Earnings Date 10/12/05 (unconfirmed)
Average Daily Volume: 1.2 million
 

Closed Long Plays

None
 

Closed Short Plays

None
 

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