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Long Play Updates

Network Appl. - NTAP - close: 25.78 change: -0.33 stop: 22.99

We were expecting a bit more profit taking in NTAP so we're pleasantly surprised at the stock's relative strength. However, if the major averages continue lower, and they look like they will, then we'd watch for another dip in NTAP. A rebound from the $24.50-25.00 region could be used as a new bullish entry point.

Picked on October 16 at $25.12
Change since picked: + 0.66
Earnings Date 11/16/05 (unconfirmed)
Average Daily Volume: 5.9 million

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Sun Microsystems - SUNW - close: 3.92 chg: -0.02 stop: 3.90

We are shocked that SUNW did not display more weakness today. Tech stocks were some of the session's worst laggards but shares of SUNW did not trade under $3.91. Our stop loss is at $3.90 and if there is any market weakness tomorrow we would expect to be stopped out. Needless to say we're not suggesting new bullish positions here.

Picked on October 17 at $ 4.05
Change since picked: - 0.13
Earnings Date 11/01/05 (unconfirmed)
Average Daily Volume: 40.4 million

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Vertex Pharma - VRTX - close: 22.55 chg: -0.08 stop: 21.90*new*

VRTX spent most of the session trading sideways. Unfortunately, what movement there was appeared bearish as the weakness in the major market indices influenced the stock. We believe that if the DJIA, S&P 500 and the NASDAQ turn lower tomorrow that VRTX will follow suit. Hopefully the $22.00 level will hold up as support once again. Conservative traders may want to seriously think about exiting early (right here) to avoid any losses. We're going to raise our stop loss to $21.90.

Picked on October 13 at $22.13
Change since picked: + 0.42
Earnings Date 10/26/05 (unconfirmed)
Average Daily Volume: 1.4 million
 

Short Play Updates

Corning Inc. - GLW - close: 18.10 chg: -0.01 stop: 20.01

GLW traded in a narrow 35-cent range on Tuesday with most of the session in a 17-cent range. The five-week trend remains bearish. If the major averages turn lower tomorrow we would expect GLW to follow suit.

Picked on October 09 at $18.54
Change since picked: - 0.44
Earnings Date 10/26/05 (confirmed)
Average Daily Volume: 11.9 million

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99c Only Stores - NDN - close: 9.23 chg: -0.10 stop: 9.56

Tomorrow is it! We're planning to exit on Wednesday afternoon at the closing bell to avoid holding over NDN's earnings report. If the stock should tank our target is the $8.60 level.

Picked on September 27 at $ 9.40
Change since picked: - 0.17
Earnings Date 10/20/05 (unconfirmed)
Average Daily Volume: 581 thousand

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Trinity Ind. - TRN - close: 35.75 chg: -0.83 stop: 39.26

TRN under performed the broader markets and the transportation sector with today's 2.2% decline. Today's loss would appear to confirm yesterday's failed rally under the 10-dma. The next challenge for the bears is possible support near the $34 level. Our target is the $32.50-32.00 range above its simple 200-dma.

Picked on October 11 at $36.88
Change since picked: - 1.13
Earnings Date 10/31/05 (unconfirmed)
Average Daily Volume: 385 thousand
 

Closed Long Plays

None
 

Closed Short Plays

None
 

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