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Long Play Updates

Amer. Power Conv. - APCC - close: 23.19 change: -0.17 stop: 21.69

APCC is still consolidating sideways between minor support at $23.00 and resistance near its 100-dma currently near 23.50. If APCC doesn't trade over $24 by the end of the week we might exit early. We hesitate to suggest new positions at the moment with the major averages poised for more profit taking. Our end of January target is the $26.50-27.00 range. We do not want to hold over the early February earnings report.

Picked on January 08 at $23.57
Change since picked: - 0.38
Earnings Date 02/02/06 (unconfirmed)
Average Daily Volume: 1.5 million

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ATI Tech. - ATYT - close: 17.22 change: -0.41 stop: 15.99

Semiconductor stocks posted their fist loss after a seven-session winning streak. Shares of ATYT were affected by the pull back today and declined 2.3%. If it's any consolation the drop today was on below average volume, which doesn't suggest a big surge in selling pressure but that the buyers took a break. Watch for the $17.00 level to offer some support. A bounce from $17 might be used as a new bullish entry point but keep in mind that the semis might be in for a multi-day pull back to digest their stunning gains for the year thus far. Our six to eight week target is the $19.90-21.00 range. More conservative traders may want to think about using a tighter stop near $16.50.

Picked on January 08 at $17.71
Change since picked: - 0.49
Earnings Date 03/23/06 (unconfirmed)
Average Daily Volume: 4.8 million

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Bluelinx - BXC - close: 12.83 change: -0.12 stop: 11.45

The rally in BXC paused today. Shares pulled back about 0.9%. If the markets see a volatile correction then BXC might actually retest broken resistance and what should be new support at the $12.00 level. Keep that in mind if you're considering a new bullish entry point. Our target will be the $15.00-15.50 range by late February through early March. FYI - the P&F chart points to a $25 target.

Picked on January 10 at $12.47
Change since picked: + 0.36
Earnings Date 03/09/06 (unconfirmed)
Average Daily Volume: 142 thousand

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Evergreen Solar - ESLR - close: 12.47 change: +0.22 stop: 10.99

ESLR was somewhat volatile today. The stock hit an early morning high of $13.75 before suffering some profit taking. Many of the solar-energy stocks were trading higher today in anticipation of the California energy bill being passed. The latest news is reporting that the California solar-power measure did pass tonight. According to an AP article "the plan is the largest solar energy policy ever enacted in the United States: an 11-year $3.2 billion incentive program aimed at spurring installation of solar panels." It will be interesting to see if ESLR see another rally tomorrow or will there be a sell-the-news reaction. Our target is the $13.90-14.00 range. It would be tempting to aim higher but we do not want to hold over the company's earnings February earnings report.

Picked on January 10 at $12.25
Change since picked: + 0.22
Earnings Date 02/03/06 (unconfirmed)
Average Daily Volume: 2.4 million

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LifeCell Corp. - LIFC - close: 20.08 change: -0.21 stop: 19.24

We see no change from yesterday's update on LIFC. Officially the play is open but we would be careful here. The failure to hold its gains over resistance near $20.50 makes us skeptical. We would wait for a new move over $20.75 or $20.86 before initiating new long positions. Our target is the $24.00-25.00 range but we don't want to hold over the January earnings report and that doesn't give us a lot of time.

Picked on January 11 at $20.65
Change since picked: - 0.57
Earnings Date 01/25/06 (unconfirmed)
Average Daily Volume: 598 thousand

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Nexen Inc. - NXY - close: 50.81 change: -1.19 stop: 47.95

Energy stocks could not escape the market wide sell-off today. Shares of NXY lost 2.2% and are headed for a test of the $50.00 level. Conservative traders need to be concerned. Today's move produced a bearish engulfing candlestick pattern, which is usually seen as a bearish reversal. The P&F chart shows a new triple-top breakout buy signal with a $63 target. Our target is the $57.50-58.00 range by mid February.

Picked on January 11 at $52.11
Change since picked: - 1.30
Earnings Date 02/17/06 (unconfirmed)
Average Daily Volume: 424 thousand
 

Short Play Updates

GMX Resources - GMXR - close: 35.65 chg: +0.67 stop: 37.01 *new*

GMXR continues to show a lot of volatility. The stock did continue to bounce following yesterday's intraday reversal. The rally made it to $36.99 and then failed. We are not suggesting new positions at this time. We are inching the stop loss down to $37.01.

Picked on January 01 at $36.00
Change since picked: - 0.35
Earnings Date 01/29/06 (unconfirmed)
Average Daily Volume: 256 thousand

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Landstar System - LSTR - close: 41.03 change: -0.49 stop: 42.01

We remain on the sidelines. Our trigger to short the stock is at $39.95. If triggered we'll target a decline into the $36.50-36.00 zone above its simple 200-dma.

Picked on January xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 02/02/06 (unconfirmed)
Average Daily Volume: 406 thousand

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MedImmune - MEDI - close: 34.59 change: -0.27 stop: 35.41

We don't see any changes from our weekend play description. Our trigger to short the stock is at $33.45. If triggered we'll target a decline into the $30.50-30.00 range above its 200-dma. We do not want to hold over the early February earnings report.

Picked on January 0x at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 02/02/06 (unconfirmed)
Average Daily Volume: 2.1 million

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Mercury Computer - MRCY - close: 19.66 change: +0.15 stop: 20.51

There is not much change in MRCY. The stock is still consolidating sideways. A new relative low under $19.25 could be used as a new entry point for shorts. We are going to target a drop into the $17.70-17.50 range by its January earnings report. We do not want to hold over the report.

Picked on January 05 at $19.34
Change since picked: + 0.32
Earnings Date 01/26/06 (unconfirmed)
Average Daily Volume: 296 thousand
 

Closed Long Plays

Builders FirstSource - BLDR - cls: 23.12 chg: -0.25 stop: 20.89

Target achieved. Shares of BLDR rallied to $23.85 this morning before an afternoon pull back to the $23.00 level. Our target was the $23.50-24.00 range. If you chose not to exit with us be careful. Today's action looks like a failed rally.

Picked on January 03 at $21.75
Change since picked: + 1.37
Earnings Date 01/26/06 (unconfirmed)
Average Daily Volume: 205 thousand

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VCA Antech - WOOF - close: 29.80 chg: +0.50 stop: 27.45

Target achieved. We are surprised by WOOF's relative strength today. The stock bucked the trend in the broader markets and hit our target in the $29.90-30.00 range.

Picked on November 09 at $26.74
Change since picked: + 3.06
Earnings Date 01/24/06 (unconfirmed)
Average Daily Volume: 436 thousand
 

Closed Short Plays

None
 

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