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Long Play Updates

LM Ericsson - ERICY - close: 34.41 chg: -0.06 stop: 33.93

So far ERICY is holding on to technical support at the 200-dma. Unfortunately, we suspect that if the major market averages break much lower that ERICY will follow suit. Double-check your stop loss placement. 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: - 0.20
Earnings Date 01/31/06 (confirmed)
Average Daily Volume: 2.2 million

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Hewlett Packard - HPQ - cls: 32.76 chg: +0.08 stop: 31.75

Direction now depends on how investors interpret the jobs data tomorrow. If it's too hot then the markets may turn lower because they expect the Fed to keep raising rates. If it's too low then the economy may be slowing down too much. Conservative traders may just want to exit early and avoid the risk. The month of March doesn't have the greatest track record anyway. Quite honestly we would expect the next move to be down toward the $32.00 level and/or its 50-dma. More aggressive traders may want to widen their stops under the 50-dma.

Picked on February 22 at $32.94
Change since picked: - 0.18
Earnings Date 02/15/06 (confirmed)
Average Daily Volume: 13.5 million

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IAC/InterActive - IACI - close: 29.83 chg: -0.26 stop: 28.75

Uh-oh! IACI just produced a bearish engulfing candlestick pattern. These are usually seen as one-day bearish reversals. We are not suggesting new positions. Conservative traders may just want to exit now and protect your capital. You can always consider a new bullish entry on a new relative high.

Picked on March 03 at $30.31
Change since picked: - 0.48
Earnings Date 02/08/06 (confirmed)
Average Daily Volume: 2.1 million

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Microchip - MCHP - close: 35.25 chg: -0.23 stop: 34.99

The situation with MCHP is not looking good. The stock tried to rebound this morning but failed. Another decline in the SOX index didn't help. Double-check your stop loss placement. If the markets are weak at all tomorrow morning we expect to be stopped out at $34.99.

Picked on March 02 at $36.52
Change since picked: - 1.28
Earnings Date 04/27/06 (unconfirmed)
Average Daily Volume: 1.6 million

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SCS Transportation - SCST - cls: 28.48 chg: +0.73 stop: 26.49 *new*

SCST is showing lots of relative strength. The stock broke out over the $28.00 level with a 2.6% rally on above average volume. We are raising our stop loss to $26.49. 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: + 0.93
Earnings Date 04/25/06 (unconfirmed)
Average Daily Volume: 139 thousand

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Synopsys - SNPS - close: 21.89 change: -0.11 stop: 21.58

SNPS is still hovering around tested, technical support at the rising 50-dma. We suspect that if the major averages are weak tomorrow morning then the stock will breakdown and hit our stop loss at $21.58. However, should the opposite occur then readers can use a move over $22.25 (or 22.50) as a new bullish entry point.

Picked on March 02 at $22.49
Change since picked: - 0.57
Earnings Date 02/15/06 (confirmed)
Average Daily Volume: 1.4 million

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Unisys - UIS - close: 6.63 change: -0.03 stop: 6.58

UIS is still inching closer toward support at $6.60. The stock's next move probably depends on market direction tomorrow morning. We are not suggesting new bullish positions.

Picked on February 16 at $ 6.81
Change since picked: - 0.18
Earnings Date 01/26/06 (confirmed)
Average Daily Volume: 2.1 million

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UST Inc. - UST - close: 41.06 change: -0.20 stop: 39.95

The upward momentum in UST is finally beginning to stall. Shares hit $41.50 and began to fade. Conservative traders may just want to lock in a small gain right here. We're not suggesting new bullish positions. If the markets continue lower tomorrow then we expect UST to pull back toward the $40.50 region. Our exit/target range is $41.65-42.00.

Picked on March 05 at $40.55
Change since picked: + 0.51
Earnings Date 04/27/06 (unconfirmed)
Average Daily Volume: 1.5 million
 

Short Play Updates

Hilton Hotels - HLT - close: 23.48 chg: -0.17 stop: 24.16*new*

HLT dipped again toward the 200-dma and on above average volume but the stock has not yet broken this technical support. We are going to inch our stop loss a little lower to $24.16. 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: - 0.58
Earnings Date 05/02/06 (unconfirmed)
Average Daily Volume: 2.9 million

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Hovnanian - HOV - close: 41.89 change: -0.62 stop: 46.11*new*

Concerns over rising interest rates are still plaguing the homebuilders. The DJUSHB sector index fell 1.99%. HOV lost 1.45% and marked its fifth down day in a row. We are not suggesting new bearish positions. Our target is the $40.50-40.00 range. Please note that we are adjusting our stop loss to $46.11.

Picked on March 05 at $44.85
Change since picked: - 2.96
Earnings Date 03/01/06 (confirmed)
Average Daily Volume: 972 thousand
 

Closed Long Plays

Network Appl. - NTAP - close: 33.14 chg: -0.35 stop: 31.90

We are choosing to abandon ship with NTAP. We'll cut our losses here instead of near $32.00. Should NTAP reverse higher we can always look for a new entry above $34.50 or over $35.00.

Picked on February 27 at $33.50
Change since picked: - 0.36
Earnings Date 02/15/06 (confirmed)
Average Daily Volume: 4.5 million
 

Closed Short Plays

None
 

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