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Long Play Updates

Amer. Power Conv. - APCC - cls: 23.88 chg: +0.56 stop: 22.90

APCC displayed some relative strength today. The stock added 2.4% and broke out over resistance at its simple 100-dma and broke out from its two-week trading range. This looks like a new bullish entry point just be aware of additional resistance at its 200-dma near 24.35. Our 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: + 0.31
Earnings Date 02/02/06 (unconfirmed)
Average Daily Volume: 1.5 million

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Bluelinx - BXC - close: 12.52 change: -0.14 stop: 11.90 *new*

BXC is still consolidating lower. The stock might have to dip toward support near the $12.00 level before moving higher again. We would either watch for the bounce from $12.00 or look for a new relative high (maybe $12.80) before initiating new long positions. We are raising our stop loss to $11.90. Our target for BXC is 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: + 0.05
Earnings Date 03/09/06 (unconfirmed)
Average Daily Volume: 142 thousand

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Nexen Inc. - NXY - close: 53.38 change: +1.26 stop: 47.95

Crude oil rose toward $67.00 a barrel boosted by news that a new tape from Osama Bin Laden had surfaced talking about new attacks on the U.S. The oil sector soared with the rise in crude. Shares of NXY added 2.4% to close near its highs. We see this as another new bullish entry point. Our target is the $57.50-58.00 range by mid February. FYI: In the news today NXY and NBL signed a $423 million deal with ESV for ESV to build a new deep water, semi-submersible drilling rig.

Picked on January 11 at $52.11
Change since picked: + 1.27
Earnings Date 02/17/06 (unconfirmed)
Average Daily Volume: 424 thousand

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Patterson-UTI - PTEN - close: 37.74 change: +1.41 stop: 33.85

The oil service sector was the best performing group today. The OSX index added 3.9% and closed at a new high. Shares of PTEN followed suit with its own 3.8% gain and a new high. Volume came in above average on the rally. Our target is the $39.85-40.00 range. We do not want to hold over the earnings report. Unfortunately, we can't find a good date for PTEN's upcoming announcement. Some sources say January 26th other say the 31st, while other suggest PTEN will report earnings in February or even March.

Picked on January 17 at $36.85
Change since picked: + 0.89
Earnings Date 01/26/06 (unconfirmed)
Average Daily Volume: 3.2 million

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Shanda Inter. - SNDA - close: 16.32 change: -0.02 stop: 16.75

We don't see any change from our previous update. We're currently on the sidelines with SNDA with a trigger to go long the stock at $18.10, above technical resistance at its 50-dma. The failure to rally with the markets today is a concern. If triggered we will target a rally into the $19.90-20.00 range.

Picked on January xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 02/02/06 (unconfirmed)
Average Daily Volume: 1.6 million

Short Play Updates

Brunswick - BC - close: 40.82 change: +0.44 stop: 41.01

BC did manage a bounce today but we don't see any change from Wednesday's play description. We have a trigger to short the stock at $39.45, which is under December's support near 39.50. What makes this play somewhat risky is the time frame. BC is due to report earnings before the market open on January 26th. We do not want to hold over the report. That does not give us a lot of time for BC to trigger the play and then trade into our target in the $36.00-35.00 range.

Picked on January xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 01/26/06 (unconfirmed)
Average Daily Volume: 746 thousand

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Landstar System - LSTR - close: 40.51 change: +0.89 stop: 42.01

Be careful here. The transportation sector produced a pretty strong rally today adding 2.5%. The move was fueled by stronger than expected earnings from railroad company UNP, which soared with an 8% gain today. LSTR bounced as well with a 2.2% rally back over the $40.00 mark and its 100-dma. Watch for a failed rally near the $41.00-41.50 region, which should be near its overhead trendline of resistance. Our target is the $36.50-36.00 range above its simple 200-dma. We do not want to hold over the early February earnings report.

Picked on January 18 at $39.95
Change since picked: + 0.56
Earnings Date 02/02/06 (unconfirmed)
Average Daily Volume: 406 thousand

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MedImmune - MEDI - close: 34.16 change: -0.06 stop: 35.41

The good news here is that MEDI failed to rally higher on Thursday after Wednesday's bullish reversal. As bears we're still in danger with the stock above its 100-dma so we hesitate to suggest new shorts right here. Our target is currently the $30.50-30.00 range.

Picked on January 18 at $33.45
Change since picked: + 0.71
Earnings Date 02/02/06 (unconfirmed)
Average Daily Volume: 2.1 million

Closed Long Plays

Advance Auto Parts - AAP - close: 42.18 chg: -1.37 stop: 43.69

AAP continued to show relative weakness today and closed under its simple 50-dma with a 3.1% decline. Volume is rising on the current sell-off and suggests that AAP has further to fall. Our trigger to go long the stock was at $45.05, which was never hit so we're dropping the play unopened.

Picked on January xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 02/02/06 (unconfirmed)
Average Daily Volume: 891 thousand

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Evergreen Solar - ESLR - cls: 13.94 chg: +0.60 stop: 11.85

Target achieved. Another rise in crude oil today only makes solar energy stock ESLR look that much more attractive. The stock rallied at the open and closed with a 4.49% gain on very strong volume. Our target was the $13.90-14.00 range.

Picked on January 10 at $12.25
Change since picked: + 1.67
Earnings Date 02/03/06 (unconfirmed)
Average Daily Volume: 2.4 million

Closed Short Plays

None
 

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