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Long Play Updates

Amer.Phys.Cap. - ACAP - close: 49.29 change: +0.30 stop: 46.75

ACAP produced some relative strength today with a minor gain but we are still just spectators. 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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Arrow Elect. - ARW - close: 34.79 change: -0.80 stop: 33.90

A bearish day for the NASDAQ and a sector-wide pull back in technology sent shares of ARW lower. The stock found some support in the $34.35-34.45 zone and shares were on the rebound before the closing bell. In the news today ARW announced a $100 million stock buyback program. These announcements tend to be bullish for the stock. We would consider a move over $35.00 as a new bullish entry point but we'd be very careful about starting new long positions as long as the major indices are weak.

Picked on February 26 at $35.89
Change since picked: - 1.10
Earnings Date 02/22/06 (confirmed)
Average Daily Volume: 587 thousand

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Claires Store - CLE - close: 32.04 change: -0.28 stop: 30.89

Traders bought the dip near $31.75 and its simple 21-dma this morning. The overall trend in CLE remains bullish but we'd be careful with the market's weakness today. CLE will probably report same-store sales data for February soon and the news could spark a big move either direction. Don't forget that we plan to exit ahead of the earnings around March 9th. 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: + 0.04
Earnings Date 03/09/06 (confirmed)
Average Daily Volume: 697 thousand

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LM Ericsson - ERICY - close: 34.10 chg: -0.43 stop: 33.93

We need to go to red alert here with ERICY. The stock fell quickly this morning and shares bounced along the $34.00 level most of the session. Technically ERICY has broken the simple 200-dma with today's close. Normally we'd expect a bounce from this area with support at $34.00 and technical support at the 200-dma but if the major averages continue lower tomorrow then we expect ERICY to stop us out at $33.93. A move back over $34.50-34.55 could be used as a new bullish entry point. FYI: ERICY trades on the NASDAQ as an A.D.S. or American Depository Shares. Today's sell-off in the U.S. markets could easily spark weakness in the European markets tomorrow morning and shares of ERICY, when they open tomorrow, could actually gap down and then rebound if our markets bounce.

Picked on February 14 at $34.61
Change since picked: - 0.51
Earnings Date 01/31/06 (confirmed)
Average Daily Volume: 2.2 million

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Hewlett Packard - HPQ - cls: 32.81 chg: -0.60 stop: 31.75

Traders bought the dip near $32.42 this morning but be careful here. If the markets continue lower then HPQ will surely retest the $32.00 level. Our target is the $35.00-35.50 range.

Picked on February 22 at $32.94
Change since picked: - 0.13
Earnings Date 02/15/06 (confirmed)
Average Daily Volume: 13.5 million

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Network Appl. - NTAP - close: 33.16 chg: -0.34 stop: 31.90

NTAP held up relatively well today. The stock traded higher this morning before succumbing to the weakness in the NASDAQ. We would hesitate to open new long positions here. If the markets continue south then NTAP may retest support in the $32.00-32.50 region. Our ten-week target is the $39.00-40.00 range.

Picked on February 27 at $33.50
Change since picked: - 0.34
Earnings Date 02/15/06 (confirmed)
Average Daily Volume: 4.5 million

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OptionsXpress - OXPS - close: 30.78 change: -0.24 stop: 29.95

Traders bought the dip near $30.00 this morning but we're not out of the woods yet. More adventurous traders might want to consider new positions if OXPS trades over $31.00 again but due to the market's weakness today we'd probably wait for a move over $31.50 before considering new positions.

Picked on February 26 at $31.95
Change since picked: - 1.17
Earnings Date 04/27/06 (unconfirmed)
Average Daily Volume: 1.0 million

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SCS Transportation - SCST - cls: 27.03 chg: +0.05 stop: 25.99

We don't see any change from our previous update on SCST. We're suggesting that traders go long with a trigger at $27.55. This should allow us to catch a breakout over resistance at $27.50. If triggered we will target a rally into the $29.90-30.00 range. SCST's P&F chart points to a $36.50 target.

Picked on February xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 04/25/06 (unconfirmed)
Average Daily Volume: 139 thousand

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Unisys - UIS - close: 6.68 change: -0.22 stop: 6.34

Watch for a bounce from $6.60. If UIS trades under $6.55 we'll start thinking about an exit. More conservative traders may want to tighten their stops. Our short-term target is a move into the $7.40-7.50 range.

Picked on February 16 at $ 6.81
Change since picked: - 0.13
Earnings Date 01/26/06 (confirmed)
Average Daily Volume: 2.1 million
 

Short Play Updates

Bed Bath & Beyond - BBBY - cls: 36.04 chg: +0.05 stop: 37.01

There is still no change from our weekend update for BBBY. 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: 24.20 change: -0.15 stop: 25.01

There is no change from our weekend update on HLT. 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: 18.39 chg: +0.50 stop: 19.25

Hmm... we definitely didn't expect JNPR to display any relative strength today. It looks like some news this morning about JNPR teaming up with Cox communications may have sparked some short covering and that could have fueled the breakout over short-term resistance at the $18.00 level. We are not suggesting new positions. What we do suggest is that traders double-check their stop loss placement. Make sure you're happy with the amount of risk you're currently facing. The next level of overhead resistance is the $19.00-19.25 region.

Picked on February 19 at $17.97
Change since picked: + 0.42
Earnings Date 01/25/06 (confirmed)
Average Daily Volume: 11.8 million
 

Closed Long Plays

Novell Inc. - NOVL - close: 9.51 change: -0.13 stop: 9.10

It looks like the smart move would have been to exit near $9.80 over the past couple of days. We were already on a short leash with NOVL. The company is due to report earnings soon and we had plans to exit on Thursday afternoon. After today's pull back we're choosing to exit early.

Picked on February 14 at $ 9.30
Change since picked: + 0.21
Earnings Date 03/02/06 (confirmed)
Average Daily Volume: 5.6 million
 

Closed Short Plays

None
 

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