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Long Play Updates

EMC Corp - EMC - close: 13.12 change: -0.09 stop: 12.95

EMC popped higher at the open this morning and traded back above its simple 200-dma but it could not hold its gains in the face of another market sell-off. The stock looks poised to retest support near the $13.00 level. Readers may want to step back and wait for a bounce from $13 before considering bullish positions.

Picked on October 09 at $13.21
Change since picked: - 0.09
Earnings Date 10/19/05 (confirmed)
Average Daily Volume: 12.8 million
 

Short Play Updates

Career Educ. - CECO - close: 34.20 chg: -0.16 stop: 36.51

CECO did post a loss on the session but Monday's intraday trend looks bullish. We would not be surprised to see CECO rally back towards the $35.00-35.50 level before turning lower again. Readers can use a failed rally under $35.50 as a new bearish entry point. Our target is the $31.00 level.

Picked on October 04 at $34.99
Change since picked: - 0.79
Earnings Date 10/26/05 (unconfirmed)
Average Daily Volume: 1.6 million

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Cost Plus - CPWM - close: 16.92 change: -0.40 stop: 19.01

Almost there! CPWM dipped to $16.60 this morning and shares closed with a 2.3% loss on the session with above average volume on the move. Our target is the $16.50-16.00 range. Readers may want to strongly consider exiting right here. The stock is very oversold and due for a bounce!

Picked on September 20 at $19.78
Change since picked: - 2.85
Earnings Date 11/17/05 (unconfirmed)
Average Daily Volume: 390 thousand

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Cree Inc. - CREE - close: 23.24 chg: -0.14 stop: 24.01

Semiconductor company Xilinx (XLNX) issued an earnings warning today that helped push the SOX semiconductor index through the bottom of its trading range with a 3.2% loss. We are amazed that shares of CREE did not sell-off more sharply today. The stock did hit a new relative low but has not yet hit our trigger to short the stock at $22.99. Thus we remain on the sidelines.

Picked on October xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 10/20/05 (confirmed)
Average Daily Volume: 1.3 million

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Enzo Biochem - ENZ - close: 13.50 chg: -0.27 stop: 15.01

ENZ lost another 1.96% on Monday closing at a new five-month low. Our target is the $12.25-12.00 range but we plan to exit this Thursday at the closing bell to avoid the company's Friday earnings report.

Picked on October 03 at $14.36
Change since picked: - 0.86
Earnings Date 10/14/05 (unconfirmed)
Average Daily Volume: 90 thousand

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Corning Inc. - GLW - close: 18.25 chg: -0.29 stop: 20.01

GLW lost just over 1.5% on Monday but volume came in very low due to the Columbus day holiday where many traders extended their weekend. Don't be surprised to see a bounce from the $18.00 level on the initial test. We see no changes from our weekend update.

Picked on October 09 at $18.54
Change since picked: - 0.29
Earnings Date 10/26/05 (confirmed)
Average Daily Volume: 11.9 million

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99c Only Stores - NDN - close: 9.15 chg: -0.03 stop: 10.01

We see no change from our weekend update. Our target is the $8.60-8.50 range.

Picked on September 27 at $ 9.40
Change since picked: - 0.25
Earnings Date 10/20/05 (unconfirmed)
Average Daily Volume: 581 thousand

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Toll Brothers - TOL - close: 38.19 chg: -1.72 stop: 42.51*new*

Homebuilders continued to sink on Monday and shares of TOL lost another 4.3%. The stock closed at a new four-month low and looks poised for more weakness. Our target is the $36.50-36.00 range. We're going to lower the stop loss to $42.51.

Picked on October 05 at $40.95
Change since picked: - 2.76
Earnings Date 08/25/05 (confirmed)
Average Daily Volume: 4.6 million
 

Closed Long Plays

Mckesson - MCK - close: 44.81 chg: -0.79 stop: 44.85

Yet another decline for the major stock averages was too much for shares of MCK. The stock continued last week's sell-off and broke down under support at the $45.00 level. We've been stopped out at $44.85.

Picked on September 18 at $46.47
Change since picked: - 1.66
Earnings Date 11/08/05 (unconfirmed)
Average Daily Volume: 1.5 million
 

Closed Short Plays

None
 

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