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Long Play Updates

Anglo-American - AAUK - close: 19.01 chg: +0.29 stop: 17.65

Gold, metal and mining stocks turned in a good day. The widespread market rally and some weakness in the U.S. dollar really fueled a rally in the metals sector. The XAU gold & silver index rose 3.4%. Shares of AAUK added 1.5%. Our target is the $19.85-20.00 range.

Picked on March 26 at $18.73
Change since picked: + 0.28
Earnings Date 02/06/06 (confirmed)
Average Daily Volume: 1.6 million

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Denbury Res. - DNR - close: 32.23 change: +0.42 stop: 27.95

DNR continues to show relative strength. The stock added 1.3% on a day the oil sectors helped lead the market rally. The stock is starting to look a little short-term overbought so we'd look for a dip if considering a new entry. 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: + 1.76
Earnings Date 05/02/06 (unconfirmed)
Average Daily Volume: 783 thousand

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Glamis Gold - GLG - close: 31.18 chg: +1.41 stop: 27.95*new*

A strong market, a weak dollar, and another rise in gold futures helped send GLG to a 4.7% gain today. The stock is challenging potential resistance at the $31.00 level. Our target is the $32.00-32.50 range. We are going to raise our stop loss to $27.95.

Picked on March 26 at $29.36
Change since picked: + 1.82
Earnings Date 05/15/06 (unconfirmed)
Average Daily Volume: 1.4 million

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Oil States Intl. - OIS - close: 36.54 chg: +0.98 stop: 32.24

Breakout! Investors ignored new data today that showed a build up in crude inventories and chose to focus on the big draw down in gasoline. The news helped send the oil services sector higher. OIS out performed many of its peers with a 2.75% gain on above average volume. Shares broke out over the $36.00 level and its simple 50-dma. We had a trigger to go long at $36.05 so the play is now open. Our target is the $41.00-42 range Please note that we do not want to hold over the early May earnings report.

Picked on March 29 at $36.05
Change since picked: + 0.49
Earnings Date 05/04/06 (confirmed)
Average Daily Volume: 777 thousand

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Smurfit-Stone - SSCC - close: 13.52 chg: +0.36 stop: 12.99

SSCC reversed course yet again. The stock added 2.7% and rallied back toward the top of its very short-term trading range near $13.60. We would wait for a move over $13.60 as a new bullish entry point. Our target is the $14.95-15.50 range. We do not want to hold over the late April earnings report.

Picked on March 19 at $13.58
Change since picked: - 0.06
Earnings Date 04/26/06 (unconfirmed)
Average Daily Volume: 3.1 million

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Trident Micro. - TRID - 29.96 chg: -0.27 stop: 27.49

Hmm... TRID displayed some relative weakness today. That could be bad news. The SOX was one of the best performers with a 2.4% gain that helped lead the rally in the tech sectors. Watch for a dip back toward $29.50, maybe $29.00, and use a bounce as a new entry point for longs. 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: - 0.54
Earnings Date 04/19/06 (unconfirmed)
Average Daily Volume: 1.6 million
 

Short Play Updates

Crown Castle Intl. - CCI - cls: 28.42 chg: -0.16 stop: 30.31

CCI continues to show relative weakness with a dip toward the $28 level. Volume came in very strong today and we can't find any news or catalyst to account for the rise in volume. Given the current pattern of a narrow, descending channel we would expect CCI to bounce back toward the $29.00-29.25 region next. Our target is the $26.25-26.00 range.

Picked on March 15 at $29.36
Change since picked: - 0.94
Earnings Date 05/02/06 (unconfirmed)
Average Daily Volume: 1.1 million

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N.Y.Times - NYT - close: 25.36 change: +0.05 stop: 26.16 *new*

NYT is not seeing any follow through with its bearish channel but neither is the stock participating in the market rally. The trend remains bearish but we would hesitate to open new positions here. The 10-dma is acting as short-term resistance and the stock is close to testing it soon. We are going to lower our stop loss to $26.16. 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: - 0.19
Earnings Date 04/13/06 (confirmed)
Average Daily Volume: 1.1 million

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Tribune Co. - TRB - close: 27.51 change: -0.00 stop: 30.01*new*

The good news here is that TRB did not participate in the market rally. We still expect the stock to produce an oversold bounce soon. 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. Please note that we're inching our stop loss down to $30.01.

Picked on March 19 at $29.36
Change since picked: - 1.85
Earnings Date 04/13/06 (confirmed)
Average Daily Volume: 1.6 million
 

Closed Long Plays

None
 

Closed Short Plays

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