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Long Play Updates

Amer. Campus Comm. - ACC - close: 27.81 chg: +0.70 stop: 25.49

ACC continued to rally today and shares hit another high over last week's surge. We don't see any change from yesterday's new play description. Our target is the $29.75-30.00 range. Our time frame is about eight weeks.

Picked on March 15 at $27.11
Change since picked: + 0.70
Earnings Date 03/01/06 (confirmed)
Average Daily Volume: 70 thousand

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Aeropostale - ARO - close: 30.60 change: +0.37 stop: 29.99

ARO is still creeping higher toward resistance near $31.00 at the top of its trading range. We're suggesting a trigger at $31.21 to open long positions. If triggered then we'll target a rally into the $33.95-34.50 range.

Picked on March xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 03/09/06 (confirmed)
Average Daily Volume: 1.1 million

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BE Aerospace - BEAV - close: 24.57 change: -0.05 stop: 22.95

BEAV still seems to be under performing but so far the bullish trend remains intact. We're not suggesting new bullish positions at this time. Look for a bounce from $24.00 or a move over $25.00. Our target is the $26.00-26.50 range but more aggressive traders may want to aim higher.

Picked on March 12 at $24.25
Change since picked: + 0.32
Earnings Date 05/05/06 (unconfirmed)
Average Daily Volume: 800 thousand

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Hewlett Packard - HPQ - cls: 33.86 chg: -0.03 stop: 32.45

Weakness in the semiconductors sapped the strength in the rest of the tech sector and HPQ's own rally stalled today. We are targeting a move into the $35.00-35.50 range.

Picked on February 22 at $32.94
Change since picked: + 0.69
Earnings Date 02/15/06 (confirmed)
Average Daily Volume: 13.5 million

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IAC/InterActive - IACI - close: 31.24 chg: +0.09 stop: 28.99

IACI did post another gain today in spite of a down day for the INX Internet index. We are not suggesting new positions at this time. Watch for a bounce from its rising 10-dma. Our target for IACI is the $32.90-33.00 range.

Picked on March 03 at $30.31
Change since picked: + 0.93
Earnings Date 02/08/06 (confirmed)
Average Daily Volume: 2.1 million

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Synopsys - SNPS - close: 22.24 change: -0.50 stop: 21.74*new*

Uh-oh! SNPS has reversed course after yesterday's bullish breakout. The lack of follow through could be bad news. We are not suggesting new long positions. Hopefully SNPS will bounce from the $22.00 level. If not shares do have technical support at the rising 50-dma, currently near $21.85. We're going to raise our stop loss to $21.74. Our target is the $24.40-24.50 range.

Picked on March 02 at $22.49
Change since picked: - 0.25
Earnings Date 02/15/06 (confirmed)
Average Daily Volume: 1.4 million
 

Short Play Updates

Baidu.com - BIDU - close: 48.32 change: -0.18 stop: 52.11

We don't see any change from our previous updates. BIDU continues to show relative weakness. This remains a risky play and given the market environment we're not suggesting new positions. We are going to target the $41.00-40.00 range. More conservative traders might want to exit near the February lows (around $44).

Picked on March 09 at $ 48.32
Change since picked: + 0.00
Earnings Date 05/23/06 (unconfirmed)
Average Daily Volume = 788 thousand

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Crown Castle Intl. - CCI - close: 29.25 chg: -0.11 stop: 31.01

CCI has produced a failed rally at the $30.00 level today. That's a good start for our new short play. We don't see any changes from our new play description from Wednesday. Our target is the $26.25-26.00 range.

Picked on March 15 at $29.36
Change since picked: - 0.11
Earnings Date 05/02/06 (unconfirmed)
Average Daily Volume: 1.1 million

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Hilton Hotels - HLT - close: 23.54 chg: +0.32 stop: 24.06

Be alert! The bounce in HLT continued today and shares broke out and closed above its simple 10-dma for the first time in several weeks. More conservative traders may want to exit now to lock in a small gain. We're not suggesting new bearish positions. Our target is the $22.25-22.00 range.

Picked on March 02 at $23.98
Change since picked: - 0.45
Earnings Date 05/02/06 (unconfirmed)
Average Daily Volume: 2.9 million

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Hovnanian - HOV - close: 45.67 change: +1.13 stop: 46.11

A rally in bonds pushed interest rates lower and the homebuilders rallied on the move. We're not suggesting new bearish positions. If the homebuilders continue to rally tomorrow odds are good we'll be stopped out at $46.11.

Picked on March 05 at $44.85
Change since picked: + 0.82
Earnings Date 03/01/06 (confirmed)
Average Daily Volume: 972 thousand

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Officemax - OMX - close: 29.22 chg: +0.20 stop: 29.41

This doesn't look good for the bears. It looks like we were caught on an intraday spike lower and OMX has now reversed course. More conservative traders may want to exit early to limit their losses before we are stopped out at $29.41.

Picked on March 14 at $28.69
Change since picked: + 0.53
Earnings Date 05/04/06 (unconfirmed)
Average Daily Volume: 1.0 million
 

Closed Long Plays

None
 

Closed Short Plays

Amkor Tech. - AMKR - close: 7.64 change: -1.31 stop: 9.01

Wow! We are pleasantly surprised by today's action in AMKR. Chip company Kulicke and Soffa (KLIC) issued some negative comments today that sank the semiconductor sector. Shares of KLIC lost 20% while the SOX fell 3.2%. AMKR reacted negatively and reversed course to close with a 14.6% loss. We had expected to be stopped out at $9.01. Instead AMKR hit our target in the $7.55-7.45 range.

Picked on March 09 at $ 8.50
Change since picked: - 0.86
Earnings Date 05/10/06 (unconfirmed)
Average Daily Volume: 3.2 million
 

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