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Long Play Updates

Bluelinx - BXC - close: 13.55 change: +0.05 stop: 11.90

We are a little bit disappointed that BXC didn't show more strength during Thursday's widespread market rally. Volume came in below average. 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: + 1.08
Earnings Date 02/15/06 (confirmed)
Average Daily Volume: 142 thousand

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Helen of Troy - HELE - close: 19.19 chg: +0.15 stop: 17.49

HELE posted another gain following yesterday's bullish breakout over the simple 100-dma. There was an initial decline toward the $18.75 region this morning but traders bought the dip. We don't see any changes from our play description from Wednesday. We do expect some trouble with the top of the October gap down but it seems like HELE is reversing course and moving higher after a three-month base-building consolidation. We are going to target the $22.00-22.50 range with a ten-week time frame.

Picked on January 25 at $19.04
Change since picked: + 0.15
Earnings Date 01/09/06 (confirmed)
Average Daily Volume: 285 thousand

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Mens Wearhouse - MW - close: 33.01 change: +0.39 stop: 30.45

MW continued to rally on Thursday adding about 1.19% but tomorrow could be strong as well. Right at the closing bell MW issued a press release. The company has decided to issue a cash dividend of 5 cents per share payable on March 31st. Plus, the company has announced a $100 million stock buy back program. The P&F chart is bullish and points to a $49 target. We think shares could rally toward their July 2005 highs near $37.00 before the company reports earnings in February. Our target is the $36.00-37.00 range. We do not want to hold over the earnings report.

Picked on January 25 at $32.62
Change since picked: + 0.39
Earnings Date 02/15/06 (unconfirmed)
Average Daily Volume: 625 thousand

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Nordic Am. Tankers - NAT - close: 31.38 chg: -0.18 stop: 29.95

Thursday was a disappointing start to our new long play in NAT. The stock ignored the market-wide rally and instead traded sideways between $31 and $32. We would watch for a bounce from $31.00 or its 50-dma (30.85) as a new bullish entry point. More conservative traders may want to reduce their risk by using a trigger to go long over $32.00 and a tight stop loss under $31.00. Our target is the $34.50-35.00 range.

Picked on January 25 at $31.56
Change since picked: - 0.18
Earnings Date 02/07/06 (confirmed)
Average Daily Volume: 191 thousand

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Nexen Inc. - NXY - close: 54.72 change: +0.39 stop: 49.99

Oil stocks were a mixed bag on Thursday with some equities succumbing to profit taking. NXY dipped to $52.44 and rebounded sharply. Today's session looks like a new bullish entry point. Our target is the $57.50-58.00 range.

Picked on January 11 at $52.11
Change since picked: + 2.61
Earnings Date 02/17/06 (unconfirmed)
Average Daily Volume: 424 thousand

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Pan Am. Silver - PAAS - close: 21.85 chg: +1.88 stop: 19.95 *new*

Whoa! We are bullish on PAAS but we certainly didn't expect a 9.4% rally in one day. Volume was very strong 2.5 times the daily average. PAAS has broken out over significant resistance and closed at new record highs. Driving the move was a rally in silver. The March silver contract rose to $9.605 an ounce to hit new 18-year highs. Our plan was to go long at $20.26 but PAAS opened at $20.44. We have adjusted our entry point to $20.44. Our target is the $22.00-22.50 range but more conservative traders may just want to exit right here. PAAS makes a big target for profit taking tomorrow. We are raising our stop loss to $19.95.

Picked on January 26 at $20.44
Change since picked: + 1.41
Earnings Date 02/23/06 (confirmed)
Average Daily Volume: 1.0 million

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Patterson-UTI - PTEN - close: 36.57 change: +0.12 stop: 33.85

We warned readers to watch for a dip toward the $35.00 level. That's what PTEN delivered today. More importantly traders bought the dip and the current bounce looks like an attractive entry point to initiate new long positions. 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: - 0.28
Earnings Date 03/16/06 (unconfirmed)
Average Daily Volume: 3.2 million
 

Short Play Updates

Ansoft Corp. - ANST - close: 33.34 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: + 0.63
Earnings Date 02/14/06 (unconfirmed)
Average Daily Volume: 104 thousand

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Health Net - HNT - close: 48.72 chg: +0.42 stop: 51.05

HNT did produce a bit of an oversold bounce today but the rebound looked pretty meager. We remain bearish but be prepared for a potential bounce toward the $50.00 level. 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: - 0.23
Earnings Date 02/01/06 (confirmed)
Average Daily Volume: 958 thousand

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MedImmune - MEDI - close: 33.83 change: +0.54 stop: 35.01

MEDI tried to breakout over the $34.00 level today but failed three times during Thursday's session. While the failed rally is good news we're concerned that if the markets continue to bounce tomorrow then MEDI may indeed break through its trendline of resistance. More conservative traders may want to tighten their stops. 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: + 0.38
Earnings Date 02/02/06 (unconfirmed)
Average Daily Volume: 2.1 million

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Travelzoo - TZOO - close: 20.12 change: -0.12 stop: 22.05

We were pleasantly surprised by TZOO today. The stock failed to rally with the rest of the market. Shares drifted lower instead but remain stuck near the $20.00 level. Play defensive and expect a bounce back toward the $22.00 level. 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: - 0.90
Earnings Date 02/02/06 (confirmed)
Average Daily Volume: 309 thousand
 

Closed Long Plays

None
 

Closed Short Plays

PETsMART - PETM - close: 25.34 change: +0.88 stop: 25.01

We have been stopped out at $25.01. PETM rallied pretty strong today with a 3.59% rise on above average volume.

Picked on January 22 at $24.08
Change since picked: + 1.26
Earnings Date 03/01/06 (unconfirmed)
Average Daily Volume: 1.2 million
 

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