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Long Play Updates

Anglo-American - AAUK - close: 18.96 chg: +0.23 stop: 17.65

Mining companies displayed strength today. Citigroup released a much publicized reversal on metals today. The analyst firm had been bearish but is now turning bullish on metals. It's about time with gold hitting new highs not seen in decades, silver hitting new twenty-two-year highs, copper hitting all-time highs. AAUK wasn't upgraded by the firm today but the stock added 1.2%, which should confirm Friday's breakout over its trendline of resistance. Our target will be the $19.85-20.00 range. If you look at the chart AAUK appears to have produced a big bull flag pattern and more aggressive traders may want to aim higher than $20.

Picked on March 26 at $18.73
Change since picked: + 0.23
Earnings Date 02/06/06 (confirmed)
Average Daily Volume: 1.6 million

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Denbury Res. - DNR - close: 30.92 change: +0.45 stop: 27.95

The rally continues for DNR. Traders were quick to buy the dip back at the $30.00 mark this morning and then DNR marched to a new high today. We do not see any changes from our weekend play description. The P&F chart points to a $46 target. We are only targeting a move into the $33.50-34.00 range.

Picked on March 26 at $30.47
Change since picked: + 0.45
Earnings Date 05/02/06 (unconfirmed)
Average Daily Volume: 783 thousand

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Glamis Gold - GLG - close: 30.51 chg: +1.15 stop: 26.74

GLG is benefiting from the same news that helped lift AAUK. Gold stocks were the popular place to be following Citigroup's positive spin on metals today. Volume on GLG's 3.9% rally was well above the daily average, which is of course bullish. Our target is the $32.00-32.50 range.

Picked on March 26 at $29.36
Change since picked: + 1.15
Earnings Date 05/15/06 (unconfirmed)
Average Daily Volume: 1.4 million

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IAC/InterActive - IACI - close: 30.23 chg: -0.08 stop: 29.95

IACI is still holding on to support at the $30.00 mark but given its short-term trend of lower highs the forecast is not bullish. We're not suggesting new longs at this time. If IACI manages to turn higher our target is the $32.90 mark.

Picked on March 03 at $30.31
Change since picked: - 0.08
Earnings Date 02/08/06 (confirmed)
Average Daily Volume: 2.1 million

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Oil States Intl. - OIS - close: 35.05 chg: -0.30 stop: 32.24

We do not see any change from our weekend play description for OIS. Aggressive traders may want to open long positions now or look for a dip and bounce near $34. We are going to wait. We're suggesting a trigger to go long at $36.05. If triggered then we will target a rally into the $41-42 range. Please note that we do not want to hold over the late April earnings report.

Picked on March xx at $xx.xx
Change since picked: + 0.00
Earnings Date 04/20/06 (unconfirmed)
Average Daily Volume: 777 thousand

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Smurfit-Stone - SSCC - close: 13.45 chg: +0.07 stop: 12.99

SSCC is still trying to rebound from support near $13.00 and its simple 50-dma. The overall pattern remains bullish but direction will probably depend on how the markets react to the FOMC meeting tomorrow. We would wait for a new move over $13.50 or $13.60 before initiating new longs. We are still targeting the $14.95 mark versus the P&F chart, which points to a $23.50 target.

Picked on March 19 at $13.58
Change since picked: - 0.13
Earnings Date 04/26/06 (unconfirmed)
Average Daily Volume: 3.1 million

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Trident Micro. - TRID - 30.61 chg: +0.11 stop: 27.49

Volume was a bit light today but TRID still managed to close at a new high today. The MACD's new buy signal is looking stronger. We do not see any change from our weekend play description. We are going to suggest long positions with TRID over $29.00. Our target will be the $33.00-33.50 range. We do not want to hold over the mid April earnings report.

Picked on March 26 at $30.50
Change since picked: + 0.11
Earnings Date 04/19/06 (unconfirmed)
Average Daily Volume: 1.6 million
 

Short Play Updates

Crown Castle Intl. - CCI - cls: 29.27 chg: -0.23 stop: 30.31

The markets did not move much ahead of tomorrow's interest rate decision. Shares of CCI traded sideways in a narrow range and volume was light. We do not see any change from our weekend play update. Our target is the $26.25-26.00 range.

Picked on March 15 at $29.36
Change since picked: - 0.09
Earnings Date 05/02/06 (unconfirmed)
Average Daily Volume: 1.1 million

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N.Y.Times - NYT - close: 25.35 change: -0.04 stop: 26.51

We do not see any changes from our weekend play update for NYT. The stock continues to trade inside its bearish, descending channel with overhead resistance at its simple 10-dma. Our target is the $24.00 level. We do not want to hold over the April 13th earnings report.

Picked on March 22 at $25.55
Change since picked: - 0.20
Earnings Date 04/13/06 (confirmed)
Average Daily Volume: 1.1 million

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Tribune Co. - TRB - close: 27.84 change: -0.04 stop: 30.26

There is no change from our weekend update. We think that it's time traders prepared for an oversold bounce, potentially up to the 10-dma (29.38) or maybe even the $30.00 level. We're going to adjust our stop loss to $30.26. We are not suggesting new shorts at this time. Our target is the $26.50-26.00 range. We do not want to hold over the April earnings report.

Picked on March 19 at $29.36
Change since picked: - 1.52
Earnings Date 04/13/06 (confirmed)
Average Daily Volume: 1.6 million
 

Closed Long Plays

Amer. Campus Com. - ACC - cls: 25.74 chg: -0.83 stop: 25.99

We had grown worried with Friday's trading and apparently for good reason. ACC was weak today with a 3% decline. We would have been stopped out at $25.99.

Picked on March 15 at $27.11
Change since picked: - 1.37
Earnings Date 03/01/06 (confirmed)
Average Daily Volume: 70 thousand
 

Closed Short Plays

Baidu.com - BIDU - close: 52.11 change: +1.91 stop: 52.11

We have finally been stopped out of this aggressive, high-risk short-play. It almost did not happen. BIDU rallied back to resistance at the $52.00 level this morning but didn't manage to breakout until later this afternoon. We would have been stopped out at $52.11. If BIDU can close more convincingly above its 50-dma then more aggressive traders might want to consider short-term longs. The $60 level and/or its 100-dma look like a good target for the bulls.

Picked on March 09 at $ 48.32
Change since picked: + 3.79
Earnings Date 05/23/06 (unconfirmed)
Average Daily Volume = 788 thousand
 

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