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Long Play Updates

Burlington N. Santa F. - BNI - cls: 57.27 chg: -0.22 stop: 53.95

BNI is holding on to its recent gains and remains near all-time highs. If the stock dips watch for the $56 level to act as support. Our target is the $59.75-60.00 range.

Picked on September 20 at $56.75
Change since picked: + 0.52
Earnings Date 10/25/05 (unconfirmed)
Average Daily Volume: 2.0 million

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Quicksilver - KWK - close: 43.64 change: -0.79 stop: 39.99

Profit taking in the oil and energy sectors pulled KWK down to the $42 level near its simple 50-dma but traders were there to buy the dip. We see this afternoon's bounce as a new bullish entry point. Our target is the $49.00-50.00 range.

Picked on September 20 at $43.68
Change since picked: - 0.04
Earnings Date 11/08/05 (unconfirmed)
Average Daily Volume: 844 thousand

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Mckesson - MCK - close: 45.75 chg: +0.14 stop: 44.85

We see no changes from our previous update. At this time we would not suggest new bullish positions.

Picked on September 18 at $46.47
Change since picked: - 0.72
Earnings Date 10/20/05 (unconfirmed)
Average Daily Volume: 1.5 million

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Rowan Cos - RDC - close: 36.55 chg: -0.86 stop: 35.25

News that hurricane Rita had been downgraded to a category four storm prompted some profit taking in the energy sector. Shares of RDC dipped toward its rising trendline of support before bouncing this afternoon. Readers might want to make this a new bullish entry point but more conservative traders can wait for a move over $37.00 or 37.25 to confirm the bounce. Currently RDC is still testing resistance near $38.00. Our target is the $39.50-40.00 range.

Picked on September 14 at $36.31
Change since picked: + 0.24
Earnings Date 11/01/05 (unconfirmed)
Average Daily Volume: 2.1 million
 

Short Play Updates

Arctic Cat - ACAT - close: 20.21 chg: +0.04 stop: 21.11

Thursday's trading was almost identical to Wednesday. 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: 44.03 chg: -0.16 stop: 46.01*new*

BUD did hit new five-week lows but managed to bounce back over the $44.00 level by the close. Technicals are negative but we would watch for a failed rally under $44.50 as a new bearish entry point. We are lowering the stop loss to $46.01.

Picked on July 28 at $44.77
Change since picked: - 0.74
Earnings Date 10/26/05 (confirmed)
Average Daily Volume: 2.3 million

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Cost Plus - CPWM - close: 19.55 change: +0.66 stop: 21.31

A positive earnings report from BBBY helped spark an oversold bounce in the Retail sector. The RLX added 2.6%. Meanwhile shares of CPWM rallied for a 3.49% gain but failed to breakout over the $20.00 level. This looks like a new failed-rally type of entry point for new shorts but we would confirm stock direction first before initiating new positions. The RLX index could rally back toward its 200-dma before turning lower again. That could make initiating new positions in CPWM a bit painful. Our target is the $16.50-16.00 range.

Picked on September 20 at $19.78
Change since picked: - 0.23
Earnings Date 11/17/05 (unconfirmed)
Average Daily Volume: 390 thousand

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Nautilus Inc. - NLS - close: 22.19 chg: -0.22 stop: 25.11

NLS is still displaying relative weakness. The stock failed to participate in the market's or the retail sector's bounce on Thursday. The stock does still have support near the $22 level so we would not initiate new positions here. Our target is the $20.50-20.00 range.

Picked on September 14 at $23.80
Change since picked: - 1.61
Earnings Date 10/25/05 (unconfirmed)
Average Daily Volume: 363 thousand
 

Closed Long Plays

Ryerson Tull - RT - close: 19.95 change: -1.18 stop: 19.75

What happened? RT had been consolidating just fine despite the market's volatility. Yet today the stock plummets lower at the open and breaks support at $20.50 and at the $20.00 mark. The answers is a broker downgrade from J.P.Morgan who cut RT to "neutral" on valuation concerns. The stock did hit our stop loss at $19.75 closing the play.

Picked on August 31 at $20.54
Change since picked: - 0.59
Earnings Date 07/28/05 (confirmed)
Average Daily Volume: 486 thousand

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Steel Dynamics - STLD - close: 31.75 chg: -0.81 stop: 31.49

We are just not having any luck with steel stocks today. Shares of STLD ignored the market's bounce and broke down under technical support at the 50-dma and historical support near $31.50 to hit our stop loss. This breakdown suggests that STLD will consolidate towards the $30.00 level and its 100-dma.

Picked on September 18 at $33.91
Change since picked: - 2.16
Earnings Date 10/18/05 (unconfirmed)
Average Daily Volume: 1.2 million
 

Closed Short Plays

None
 

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