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Long Play Updates

ANSYS Inc. - ANSS - close: 43.95 change: -0.26 stop: 40.89

During today's light-volume post-holiday trading session shares of ANSS produced some volatility and on above average volume. The stock did indeed turn lower following Tuesday's bearish engulfing candlestick pattern. Fortunately, there were some bulls ready to buy the dip near $43.00 (really 42.89). This could be used as a new bullish entry point. The bounce back to the $44 region is encouraging but we may not be out of the woods just yet. We would wait for a move over $44.50 (today's high) before considering new bullish positions. More conservative traders may want to put their stop loss under today's low near $42.89. Our target is the $49.00-50.00 range by the end of January. We do not want to hold over the early February earnings report.

Picked on December 22 at $44.05
Change since picked: - 0.10
Earnings Date 02/02/06 (unconfirmed)
Average Daily Volume: 153 thousand

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Anglogold - AU - close: 48.80 change: +1.21 stop: 44.95

Gold posted another gain today and gold stocks followed. The XAU index added 2.4%. Shares of AU gained 2.5% and are nearing our target in the $49.50-50.00 range. More conservative traders may want to exit right here for a gain.

Picked on December 06 at $44.81
Change since picked: + 3.99
Earnings Date 01/27/06 (unconfirmed)
Average Daily Volume: 904 thousand

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BMC Software - BMC - close: 21.08 change: -0.03 stop: 20.74

We have a relatively tight stop on our BMC play so it was a bit alarming to see shares dip back under broken resistance at the $21.00 level. Bulls bought the dip near $20.80 and the stock rebounded back above resistance at the $21 level again. This looks like a new bullish entry point but with the markets looking a bit unstable traders may want to wait for a move over $21.20 or $21.25 before considering new longs here. Our target now is the $21.85-22.00 range.

Picked on December 27 at $21.11
Change since picked: - 0.03
Earnings Date 02/01/06 (unconfirmed)
Average Daily Volume: 1.5 million

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CenturyTel - CTL - close: 33.32 change: -0.01 stop: 32.75

We do not see any change from yesterday's update. CTL continues to oscillate sideways near the $33.50 level. The failed rally under the 100-dma today looks bearish so we're going to raise our stop loss to $32.75 just under the simple 50-dma. We are not suggesting new bullish positions here.

Picked on December 12 at $33.55
Change since picked: - 0.23
Earnings Date 01/26/06 (unconfirmed)
Average Daily Volume: 855 thousand

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D.R.Horton - DHI - close: 36.15 chg: -0.11 stop: 35.75 *new*

We are turning defensive on DHI. The stock is still holding above support near the $36.00 level but shares look poised to breakdown below its two-month trendline of higher lows (support). More conservative traders may want to exit early. We're going to raise our stop loss to $35.75. There is a risk that DHI will dip to the 200-dma and bounce but we can always consider re-entering again later.

Picked on November 21 at $35.85
Change since picked: + 0.30
Earnings Date 11/16/05 (confirmed)
Average Daily Volume: 3.2 million

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Duke Energy - DUK - close: 27.60 change: -0.09 stop: 26.89

We do not see any change from yesterday's update on DUK. Our target is the $27.95-28.00 range. We are not suggesting new positions here.

Picked on December 13 at $26.89
Change since picked: + 0.71
Earnings Date 02/01/06 (unconfirmed)
Average Daily Volume: 3.9 million

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JDS Uniphase - JDSU - close: 2.41 change: -0.08 stop 2.39

There is no change from our weekend update on JDSU. We remain on the sidelines. Our trigger to go long/buy the stock is at $2.65. If triggered we'll target a rally to $2.98. We would qualify this as an aggressive play. If JDSU closes under the simple 50-dma we'll remove the stock as a bullish candidate.

Picked on December xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 01/25/06 (unconfirmed)
Average Daily Volume: 50.0 million

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Levitt - LEV - close: 23.51 chg: +0.59 stop: 21.95

LEV continues to show relative strength. The stock added more than 2.5% today and confirmed yesterday's bullish breakout over the 100-dma. The stock is now challenging its three-month highs near 23.69. Our target is the $24.90-25.00 range.

Picked on December 01 at $22.27
Change since picked: + 1.24
Earnings Date 02/02/06 (unconfirmed)
Average Daily Volume: 161 thousand

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LifeCell Corp. - LIFC - close: 19.21 change: -0.35 stop: 19.24

We do not see any change from our weekend update on LIFC. Currently we are on the sidelines. Our trigger to go long the stock is at $20.65. If triggered we'll target a rally into the $24-25 range.

Picked on December xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 01/25/06 (unconfirmed)
Average Daily Volume: 598 thousand

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Norfolk So. Corp. - NSC - close: 44.95 chg: +0.14 stop: 42.34

The transportation sector bounced higher today despite a significant rise in crude oil prices. Technically we remain bullish on NSC but if you remember Jim's wrap from a few days ago we don't have a bullish bias for transports in January. A bounce from the $44.00 level would look like a new bullish entry point but do so cautiously and watch your stops! The stock remains a candidate to benefit from any end-of-quarter window dressing. Our end of January target is the $48.50-49.00 range. The Point & Figure chart for NSC currently points to a $64 target. We do not want to hold over the late January earnings report.

Picked on December 22 at $44.35
Change since picked: + 0.60
Earnings Date 01/25/06 (unconfirmed)
Average Daily Volume: 2.2 million

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Outback Steakhouse - OSI - close: 41.49 chg: +0.49 stop: 40.49

OSI bounced back above its exponential 200-dma today. We would wait for a move over $41.70 before considering new bullish positions. More conservative traders may want to wait for a move over the 200-dma before considering new long positions.

Picked on December 23 at $41.55
Change since picked: - 0.06
Earnings Date 02/09/06 (unconfirmed)
Average Daily Volume: 789 thousand

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VCA Antech - WOOF - close: 28.13 chg: +0.28 stop: 26.74

WOOF is showing some strength today and its technical picture is certainly improving. A move over resistance near $28.50 would be a new all-time high. We will plan to exit ahead of the late January earnings report. Our target is the $29.90-30.00 range.

Picked on November 09 at $26.74
Change since picked: + 1.39
Earnings Date 01/24/06 (unconfirmed)
Average Daily Volume: 436 thousand

Short Play Updates

Danaher - DHR - close: 55.46 change: +0.18 stop: 57.35

We do not see any change from our previous update on DHR. The stock is still trading inside its short-term range between $55 and $56. More conservative traders may want to wait for DHR to trade under short-term support near $55.00 before considering new short positions. Our target for DHR is the $51.25-51.00 range.

Picked on December 18 at $55.79
Change since picked: - 0.31
Earnings Date 02/16/05 (unconfirmed)
Average Daily Volume: 1.5 million

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NeuroMetrix - NURO - close: 27.16 chg: +0.25 stop: 31.05

NURO produced a bit of an oversold bounce today. We don't see any change from our weekend update on NURO. Our target is $25.25. We are not suggesting new plays at this time.

Picked on December 06 at $29.59
Change since picked: - 2.43
Earnings Date 01/27/06 (unconfirmed)
Average Daily Volume: 210 thousand

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Waters Corp. - WAT - close: 38.23 chg: +0.33 stop: 39.25

WAT also bounced today but the stock remains under its multi-month trendline of resistance. More conservative traders may want to wait for a new decline under the December 20th low near $37.55 before initiating positions. Our target is the $35.25-35.00 range. We do not want to hold over the late January earnings report.

Picked on December 18 at $38.60
Change since picked: - 0.37
Earnings Date 01/24/06 (unconfirmed)
Average Daily Volume: 901 thousand

Closed Long Plays

None
 

Closed Short Plays

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