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Long Play Updates

Amer.Phys.Cap. - ACAP - close: 48.86 change: -0.06 stop: 46.75

Volume has essentially vanished in shares of ACAP. We remain on the sidelines. Our plan is to catch a breakout over resistance in the $50.00-50.50 region. We are suggesting a trigger to go long the stock at $50.61. If triggered we'll target a rally into the $54.85-55.00 range. The Point & Figure chart is bullish with an ascending triple-top breakout buy signal and a $91 target.

Picked on February xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 02/16/06 (unconfirmed)
Average Daily Volume: 53 thousand

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Claires Store - CLE - close: 31.81 change: -0.44 stop: 30.89

Disappointing earnings guidance from the Gap (GPS) undermined any strength in the retail sector. Shares of CLE lost 1.3% on Friday. We are not suggesting new bullish positions at this time and considering the lack of direction in the major indices we would be cautious here with CLE. Our target is the $33.90-34.00 range. The P&F chart points to a $42 target.

Picked on February 14 at $32.00
Change since picked: - 0.19
Earnings Date 03/09/06 (unconfirmed)
Average Daily Volume: 697 thousand

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Curtiss Wright - CW - close: 62.72 chg: +0.58 stop: 59.90

CW still looks bullish given its breakout over resistance at $60.00 back on February 16th but we are not suggesting new positions at this time. If the major indices turn south next week then we expect CW to follow suit so make plans to protect yourself. Our target for CW is the $63.95-64.00 range.

Picked on February 16 at $ 60.35
Change since picked: + 2.37
Earnings Date 02/09/06 (confirmed)
Average Daily Volume = 76 thousand

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LM Ericsson - ERICY - close: 34.55 chg: -0.12 stop: 33.93

We have nothing new to report on for ERICY. The stock has been slowly consolidating lower over the past several days. So far support at the $34.50 level is holding but at this point we suspect that ERICY will dip toward $34.00 and its simple 200-dma before moving higher again. Wait for the bounce from the 200-dma before considering new positions. Our target is the $36.75-37.00 range.

Picked on February 14 at $34.61
Change since picked: - 0.06
Earnings Date 01/31/06 (confirmed)
Average Daily Volume: 2.2 million

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Hewlett Packard - HPQ - cls: 32.02 chg: -0.35 stop: 31.75

Watch out! Traders may need to bail out early in HPQ. There was no bounce on Friday and shares look poised to continue lower. There are two reasons we're keeping the play alive and not exiting early right here. First, shares of HPQ managed to close above the $32.00 level in spite of coming within 5-cents of our stop loss. Second, the NASDAQ composite looks like it's coiling for a bullish breakout next week. If the NASDAQ turns lower instead then we expect to be stopped out at $31.75. At this point we are not suggesting new long positions in HPQ although we would keep an eye on any dip toward the simple 50-dma.

Picked on February 22 at $32.94
Change since picked: - 0.92
Earnings Date 02/15/06 (confirmed)
Average Daily Volume: 13.5 million

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Novell Inc. - NOVL - close: 9.67 change: -0.06 stop: 9.10

We are not suggesting new positions in NOVL at this time. We only have four days left before NOVL reports earnings and honestly this looks like a good spot to exit with a minor gain. The stock tested resistance at the $9.80 level on Friday and failed to breakout. Given the weakness in the SOX index it would not surprise us to see NOVL drift back toward $9.40-9.30 before its earnings report. Speaking of earnings we plan to exit on Thursday afternoon to avoid holding over the report due out Thursday night.

Picked on February 14 at $ 9.30
Change since picked: + 0.37
Earnings Date 03/02/06 (confirmed)
Average Daily Volume: 5.6 million

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Unisys - UIS - close: 6.81 change: -0.03 stop: 6.34*new*

UIS has spent the last week consolidating sideways between $6.70 and $7.00. Fortunately, we suspect that UIS is finally ready to breakout over the $7.00 level but success probably depends on what the major indices do next week. We are adjusting our stop to $6.34. More conservative traders may want to tighten their stop losses even higher. Our short-term target is a move into the $7.40-7.50 range.

Picked on February 16 at $ 6.81
Change since picked: + 0.00
Earnings Date 01/26/06 (confirmed)
Average Daily Volume: 2.1 million
 

Short Play Updates

Bed Bath & Beyond - BBBY - cls: 35.72 chg: +0.13 stop: 37.01

We are still on the sidelines with BBBY. Our plan is to catch the next leg down in the stock price. The stock has been consolidating sideways for the last few weeks with a new trend of lower highs. We're suggesting a trigger to short the stock at $34.80. If triggered we'll target a decline into the $30.50-30.00 range. The Point & Figure chart is bearish and points to a $25.00 target.

Picked on February xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 03/29/06 (unconfirmed)
Average Daily Volume: 3.5 million

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Hilton Hotels - HLT - close: 24.31 change: -0.08 stop: 25.01

HLT is still consolidating in a trend of lower highs but the stock remains above support at the $24.00 level. We want to catch any breakdown under $24.00 and we're suggesting a trigger to short the stock at $23.98. If triggered our target is the $22.25-22.00 range.

Picked on February xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 05/02/06 (unconfirmed)
Average Daily Volume: 2.9 million

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Juniper Networks - JNPR - close: 17.67 chg: -0.15 stop: 19.25

JNPR's oversold bounce finally failed about six days ago. This past week the stock has tried to rebound again and failed multiple times at the $18.00 level. We remain bearish and continue to target the $15.25-15.00 range. The P&F chart is very bearish and points to a $9.00 target.

Picked on February 19 at $17.97
Change since picked: - 0.30
Earnings Date 01/25/06 (confirmed)
Average Daily Volume: 11.8 million
 

Closed Long Plays

None
 

Closed Short Plays

None
 

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