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Long Play Updates

Burlington N. Santa F. - BNI - cls: 57.49 chg: +0.74 stop: 53.95

BNI continues to show amazing relative strength in spite of the market's weakness. The stock added 1.3$ on rising volume almost twice its daily average. If BNI does see any profit taking we'd look for the $56 level to act as support and readers could use a bounce from $56 as a new entry point. Our target is the $59.75-60.00 range.

Picked on September 20 at $56.75
Change since picked: + 0.74
Earnings Date 10/25/05 (unconfirmed)
Average Daily Volume: 2.0 million

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Quicksilver - KWK - close: 44.43 change: +0.75 stop: 39.99

Wall Street is growing more and more worried that hurricane Rita, which was just upgraded to a category five storm, will produce more shutdowns and more damage to the oil industry when it hits the Texas coastline. This gave the energy sector a lift and shares of KWK gapped higher before pulling back to almost fill the gap. We would still consider new bullish positions here. Our target is the $49.00-50.00 range.

Picked on September 20 at $43.68
Change since picked: + 0.75
Earnings Date 11/08/05 (unconfirmed)
Average Daily Volume: 844 thousand

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Mckesson - MCK - close: 45.61 chg: -0.08 stop: 44.85

MCK is holding up relatively well considering the weakness in the markets. However, the very short-term trend does look down and we expect the stock to retest support at the $45.00 level soon. At this time we would not suggest new bullish positions.

Picked on September 18 at $46.47
Change since picked: - 0.86
Earnings Date 10/20/05 (unconfirmed)
Average Daily Volume: 1.5 million

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Rowan Cos - RDC - close: 37.41 chg: +0.13 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: + 1.10
Earnings Date 11/01/05 (unconfirmed)
Average Daily Volume: 2.1 million

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Ryerson Tull - RT - close: 21.13 change: +0.32 stop: 19.75

We see no change from our previous update. The $20.50-20.00 levels should act as support. Our target is the $23.50 level.

Picked on August 31 at $20.54
Change since picked: + 0.69
Earnings Date 07/28/05 (confirmed)
Average Daily Volume: 486 thousand

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Steel Dynamics - STLD - close: 32.56 chg: +0.24 stop: 31.49

STLD did manage to buck the trend on Wednesday and close in the green but we remain very cautious here. Shares are trading between the 50-dma and its 200-dma. We're not suggesting new plays. More conservative traders may want to tighten their stops.

Picked on September 18 at $33.91
Change since picked: - 1.35
Earnings Date 10/18/05 (unconfirmed)
Average Daily Volume: 1.2 million
 

Short Play Updates

Arctic Cat - ACAT - close: 20.17 chg: +0.09 stop: 21.11

ACAT did breakdown under the $20.00 mark intraday but the stock did not hit our trigger to short it at $19.79. We remain on the sidelines. If triggered our target is the $18.25-18.00 range.

Picked on September xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 10/20/05 (unconfirmed)
Average Daily Volume: 107 thousand

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Anheuser Busch - BUD - cls: 44.19 chg: -0.73 stop: 46.25

BUD is finally starting to see some weakness with the stock falling under its simple 50-dma on heavy volume. The move helped produce a new MACD sell signal. The next level of support is the $44.00 mark. Our target is the $40.00 region before its October earnings report. We will not hold over BUD's earnings.

Picked on July 28 at $44.77
Change since picked: - 0.58
Earnings Date 10/26/05 (confirmed)
Average Daily Volume: 2.3 million

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Cost Plus - CPWM - close: 18.89 change: -0.89 stop: 21.31

Retailers continue to lead the way lower. Shares of CPWM lost another 4.49% following Tuesday's breakdown under the $20.00 mark. Our target is the $16.50-16.00 range.

Picked on September 20 at $19.78
Change since picked: - 0.89
Earnings Date 11/17/05 (unconfirmed)
Average Daily Volume: 390 thousand

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Nautilus Inc. - NLS - close: 22.41 chg: -0.88 stop: 25.11

NLS is also showing a lot of weakness. The stock lost 3.77% on relatively heavy volume. The next test is the $22.00 region, where it bounced last week. Our target is the $20.50-20.00 range.

Picked on September 14 at $23.80
Change since picked: - 1.39
Earnings Date 10/25/05 (unconfirmed)
Average Daily Volume: 363 thousand
 

Closed Long Plays

Idex Corp - IEX - close: 42.44 change: -1.28 stop: 41.99

Ouch! Today's follow through on yesterday's breakdown was painful. The stock lost almost three percent and cut through technical support at its 50-dma like soft butter. IEX should find additional support at the $42.00 level but we're not going to stick around to find out.

Picked on September 11 at $44.43
Change since picked: - 1.99
Earnings Date 10/20/05 (unconfirmed)
Average Daily Volume: 232 thousand

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Radian Group - RDN - close: 51.28 chg: -0.80 stop: 49.99

We are choosing to exit early here in RDN. The stock's weakness is not a surprise considering the sell-off in the markets. However, the breakdown under its simple 50-dma is a clue that shares are probably due for more weakness. We'll watch it for a bounce from the $50.00 level again.

Picked on September 07 at $51.10
Change since picked: + 0.18
Earnings Date 10/19/05 (unconfirmed)
Average Daily Volume: 518 thousand
 

Closed Short Plays

Wal-Mart - WMT - close: 42.49 change: -0.72 stop: 46.05

Target achieved. Wall Street continues to worry what hurricanes Katrina and Rita will do to consumer sentiment in addition to the impact that higher gas prices will have on consumer spending. This is pushing WMT to new three-year lows. Today's decline was enough to hit our target at $42.50. Aggressive traders might want to consider tightening their stops and letting WMT run but keep in mind the stock is getting very oversold and due for an oversold bounce (which could happen any day now).

Picked on August 24 at $45.95
Change since picked: - 3.46
Earnings Date 08/16/05 (confirmed)
Average Daily Volume: 10.2 million

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YUM Brands - YUM - close: 48.31 change: -1.19 stop: 51.01

Target achieved. The market's sell-off hit the hardest in retailers and restaurants. Shares of YUM dipped to $47.91 and filled the gap from early September. Our target was the $48.00 level. More aggressive traders may want to let the stock run as the MACD is nearing a new sell signal.

Picked on September 13 at $49.98
Change since picked: - 1.67
Earnings Date 10/12/05 (unconfirmed)
Average Daily Volume: 1.2 million
 

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