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Long Play Updates

Bluelinx - BXC - close: 13.50 change: +0.02 stop: 11.90

We see no change from our previous updates on BXC. 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: + 1.03
Earnings Date 02/15/06 (confirmed)
Average Daily Volume: 142 thousand

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Nexen Inc. - NXY - close: 54.33 change: -1.28 stop: 49.99

Oil stocks pulled back following a decline in crude futures today. The trend in NXY remains bullish but shares could dip to the $52.00 region before bouncing. We don't see any change from our previous updates on NXY. Our target is the $57.50-58.00 range.

Picked on January 11 at $52.11
Change since picked: + 2.22
Earnings Date 02/17/06 (unconfirmed)
Average Daily Volume: 424 thousand

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Patterson-UTI - PTEN - close: 36.45 change: -1.30 stop: 33.85

Traders were doing some profit taking in the oil services sector today. The OSX index lost 2.8% while shares of PTEN fell 3.4% and closed under the simple 10-dma. We wouldn't be surprised to see PTEN retest support at the $35.00 level before moving higher. A bounce from $35 would be an attractive entry point for new longs. Our target is the $39.85-40.00 range versus the P&F chart's target of $46.50.

Picked on January 17 at $36.85
Change since picked: - 0.40
Earnings Date 03/16/06 (unconfirmed)
Average Daily Volume: 3.2 million
 

Short Play Updates

Ansoft Corp. - ANST - close: 33.30 chg: -0.04 stop: 34.51

We do not see any change from our previous updates on ANST. We are not suggesting new bearish positions at this time and more conservative traders may want to consider exiting early to protect themselves. Our target is the $27.70-28.00 range near its 200-dma.

Picked on January 19 at $32.71
Change since picked: + 0.59
Earnings Date 02/14/06 (unconfirmed)
Average Daily Volume: 104 thousand

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Health Net - HNT - close: 48.30 chg: -0.60 stop: 51.05

HNT turned lower again today and closed with a 1.2% decline. More importantly it closed back under the simple 100-dma. Our target is the $45.00-44.00 range. We do not want to hold over the February 1st earnings report.

Picked on January 23 at $48.95
Change since picked: - 0.65
Earnings Date 02/01/06 (confirmed)
Average Daily Volume: 958 thousand

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MedImmune - MEDI - close: 33.29 change: +0.00 stop: 35.01

MEDI closed unchanged on the session but the action today was bearish. The stock produced a new failed rally near the $34.00 level and its trend of lower highs. This looks like a new entry point for shorts. Our target is the $30.50-30.00 range but we'll adjust it as the simple 200-dma moves higher. We do not want to hold any positions over the early February earnings report.

Picked on January 18 at $33.45
Change since picked: - 0.18
Earnings Date 02/02/06 (unconfirmed)
Average Daily Volume: 2.1 million

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PETsMART - PETM - close: 24.46 change: +0.06 stop: 25.01

We do not see any change from our previous update on PETM. Watch for a failed rally under $25.00 as a new bearish entry point. Our target is the $21.50-21.00 range.

Picked on January 22 at $24.08
Change since picked: + 0.38
Earnings Date 03/01/06 (unconfirmed)
Average Daily Volume: 1.2 million

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Travelzoo - TZOO - close: 20.24 change: +0.19 stop: 22.05 *new*

TZOO is trying to bounce from round-number support at the $20.00 level. We warned readers to expect a bounce near $20 and frankly we're surprised that today's rebound wasn't higher. We would not suggest new shorts here. Watch for a failed rally under the 10-dma near $21.65. We are lowering our stop loss to $22.05. Our target is the $17.25-16.50 range. We do not want to hold over the early February earnings report.

Picked on January 22 at $21.02
Change since picked: - 0.78
Earnings Date 02/02/06 (confirmed)
Average Daily Volume: 309 thousand
 

Closed Long Plays

None
 

Closed Short Plays

Baidu.com - BIDU - close: 52.50 change: -3.92 stop: 62.05

Target achieved. BIDU continues to sell off and shares lost 6.9% today closing at a new all-time low. Our target was the $52.00-50.00 range and BIDU hit the $52.00 mark this morning. More aggressive players may want to hold on and aim for $50 or lower. Don't forget that nothing moves in a straight line and BIDU is looking pretty oversold and due for a bounce.

Picked on January 23 at $59.75
Change since picked: - 7.25
Earnings Date 03/16/06 (unconfirmed)
Average Daily Volume: 1.0 million
 

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