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Long Play Updates

LM Ericsson - ERICY - close: 34.47 chg: +0.09 stop: 33.93

ERICY is still bouncing from its simple 200-dma. Wait for another move over $35.25 before considering new bullish positions. Our target is the $36.75-37.00 range.

Picked on February 14 at $34.61
Change since picked: - 0.14
Earnings Date 01/31/06 (confirmed)
Average Daily Volume: 2.2 million

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Hewlett Packard - HPQ - cls: 32.68 chg: -0.28 stop: 31.75

We are starting to grow more concerned over the pull back in shares of HPQ. More conservative traders may just want to exit early right here and protect their capital. You can always re-enter again later. If HPQ doesn't trade back over $33.20 soon we'll probably opt to abandon this play and just wait to see if shares bounce from the 50-dma again.

Picked on February 22 at $32.94
Change since picked: - 0.26
Earnings Date 02/15/06 (confirmed)
Average Daily Volume: 13.5 million

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IAC/InterActive - IACI - close: 30.09 chg: +0.04 stop: 28.75

Internet stocks were mostly lower today thanks in part to weakness in GOOG. Shares of IACI are hanging in there but given the market environment we hesitate to open new bullish positions.

Picked on March 03 at $30.31
Change since picked: - 0.22
Earnings Date 02/08/06 (confirmed)
Average Daily Volume: 2.1 million

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Microchip - MCHP - close: 35.48 chg: -0.30 stop: 34.99

MCHP broke down under its 50-dma on an intraday basis but the rebound in the SOX this afternoon helped fuel a bounce in shares of MCHP as well. Today's session saw MCHP also test round-number support at the $35.00 level. One might be inclined to believe that today's session looks like a short-term bullish reversal in the SOX (and MCHP) but that might just be wishful thinking. More conservative traders should still be considering an early exit to protect their capital. We are not suggesting new bullish positions at this time.

Picked on March 02 at $36.52
Change since picked: - 1.05
Earnings Date 04/27/06 (unconfirmed)
Average Daily Volume: 1.6 million

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Network Appl. - NTAP - close: 33.49 chg: +0.18 stop: 31.90

Networking stocks managed to bounce back into the green late this afternoon and shares of NTAP followed suit. We are not suggesting new bullish positions at this time.

Picked on February 27 at $33.50
Change since picked: - 0.19
Earnings Date 02/15/06 (confirmed)
Average Daily Volume: 4.5 million

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SCS Transportation - SCST - cls: 27.75 chg: -0.01 stop: 25.99

We don't see any change from our previous updates on SCST. Our target is the $29.90-30.00 range. SCST's P&F chart points to a $36.50 target.

Picked on March 01 at $27.55
Change since picked: + 0.20
Earnings Date 04/25/06 (unconfirmed)
Average Daily Volume: 139 thousand

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Synopsys - SNPS - close: 22.00 change: -0.03 stop: 21.58

Traders bought the dip near SNPS' simple 50-dma this morning. The move might be considered a new bullish entry point but there wasn't much follow through to the upside. We would not suggest new bullish positions at this time.

Picked on March 02 at $22.49
Change since picked: - 0.46
Earnings Date 02/15/06 (confirmed)
Average Daily Volume: 1.4 million

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Unisys - UIS - close: 6.66 change: -0.06 stop: 6.58

UIS is slipping toward minor support at the $6.60 level. We are not suggesting new bullish positions.

Picked on February 16 at $ 6.81
Change since picked: - 0.15
Earnings Date 01/26/06 (confirmed)
Average Daily Volume: 2.1 million

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UST Inc. - UST - close: 41.26 change: +0.36 stop: 39.95

UST continues to show relative strength posting its sixth gain in a row. Our target has been the 200-dma but we've been using a target in the $41.75-42.00 range. Currently the 200-dma is at $41.78. We need to adjust our target (exit) range to $41.65-42.00. We are not suggesting new bullish positions.

Picked on March 05 at $40.55
Change since picked: + 0.71
Earnings Date 04/27/06 (unconfirmed)
Average Daily Volume: 1.5 million
 

Short Play Updates

Hilton Hotels - HLT - close: 23.65 chg: -0.04 stop: 24.27

We do not see any changes from our previous updates on HLT. We are not suggesting new bearish positions at this time. We're aiming for a decline into the $22.25-22.00 range.

Picked on March 02 at $23.98
Change since picked: - 0.41
Earnings Date 05/02/06 (unconfirmed)
Average Daily Volume: 2.9 million

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Hovnanian - HOV - close: 42.51 change: -0.70 stop: 48.01

The homebuilders declined again today although many stocks in the sector are starting to produce oversold bounces. We would not be surprised to see HOV produce a bounce soon. Be ready for one. A failed rally near $45.00 might be used as a new bearish entry point. Our target is the $40.50-40.00 range.

Picked on March 05 at $44.85
Change since picked: - 2.34
Earnings Date 03/01/06 (confirmed)
Average Daily Volume: 972 thousand
 

Closed Long Plays

None
 

Closed Short Plays

Bed Bath & Beyond - BBBY - cls: 36.51 chg: +0.34 stop: 37.01

BBBY has broken out above its simple 50-dma. We're choosing to drop the stock as a bearish candidate. Our plan suggested shorting the stock at $34.80 but we were never triggered.

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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