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Long Play Updates

Burlington Coat - BCF - close: 38.33 chg: -0.57 stop: 36.45

The afternoon pull back and bounce from the $38.00 level looks like a new bullish entry point for BCF. We see no other changes from our Monday update. Our eight week target is the $43.50-44.00 range.

Picked on October 24 at $38.90
Change since picked: - 0.57
Earnings Date 10/06/05 (confirmed)
Average Daily Volume: 165 thousand


HR Block - HRB - close: 24.02 change: -0.34 stop: 22.99

Hmm... traders might need to turn cautious here with HRB. Today's action produced a bearish engulfing candlestick, which is normally interpreted as a short-term bearish reversal. If HRB turns lower tomorrow we might exit early. Alternatively, a bounce back over $24.25 could be used as a new entry point. We'll aim for the simple 200-dma currently near $25.80. Our time frame is just less than four weeks. We plan to exit ahead of the company's earnings report.

Picked on October 23 at $24.09
Change since picked: - 0.07
Earnings Date 11/17/05 (confirmed)
Average Daily Volume: 2.1 million


Network Appl. - NTAP - close: 26.09 chg: -0.76 stop: 24.49

NTAP finally hit some overdue profit taking but there were some bulls defending the stock near the 100-dma around its low of $25.85. We are not suggesting new plays at this time. Our target is the simple 200-dma currently near 27.50. We will exit in the $27.50-27.65 range.

Picked on October 16 at $25.12
Change since picked: + 0.97
Earnings Date 11/16/05 (unconfirmed)
Average Daily Volume: 5.9 million


Outback Stkhse - OSI - close: 37.25 chg: -0.64 stop: 34.99

After three up days in a row shares of OSI finally hit some profit taking today. The selling stalled near the $37 level. A bounce from here could be used as a new entry point but if the major averages turn lower tomorrow we'd expect OSI to test the $36.75 region. Our target is the $39.90-40.00 range.

Picked on October 23 at $37.21
Change since picked: + 0.04
Earnings Date 10/20/05 (confirmed)
Average Daily Volume: 819 thousand

Short Play Updates

Elkcorp - ELK - close: 31.83 chg: -0.17 stop: 32.75

ELK held its annual shareholders meeting today. Apparently there wasn't any stock-moving news announced at the meeting. We remain on the sidelines with a trigger to short the stock at $30.49. Our target will be the $27.00 level.

Picked on October xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 10/21/05 (confirmed)
Average Daily Volume: 205 thousand


Sanderson Farms - SAFM - close: 34.32 chg: -1.12 stop: 37.51

SAFM under performed the markets today and lost another 3.16% as the stock hit another new one-year low. The drop under $35.00 today was a new bearish entry point to short the stock. Our target is the $32.00-31.00 range.

Picked on October 23 at $35.17
Change since picked: - 0.85
Earnings Date 12/07/05 (unconfirmed)
Average Daily Volume: 257 thousand

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