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In Play Updates and Reviews

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Long Play Updates

Stone Energy - SGY - close: 47.30 chg: -0.47 stop: 45.95

Crude oil marked another gain today with a move over $73 a barrel but this strength did not help the oil stocks. The oil sector failed to escape the market-wide sell-off today. SGY has produced a small, bearish-looking failed rally today so we'd be careful here. Our short-term target will be resistance in the $51.25-51.50 range. More aggressive traders may want to aim higher.

Picked on May 07 at $47.41
Change since picked: - 0.11
Earnings Date 05/03/06 (confirmed)
Average Daily Volume: 560 thousand

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Universal Health - UHS - close: 52.12 chg: -0.04 stop: 49.95

Considering the carnage in the markets today we'd consider a 4-cent loss a victory for UHS. However, we're not suggesting new positions and shares could easily dip to the 10-dma or the $51.00 level. Our target is the $56.00-57.00 range.

Picked on May 10 at $52.15
Change since picked: - 0.03
Earnings Date 04/27/06 (confirmed)
Average Daily Volume: 571 thousand
 

Short Play Updates

Broadcom - BRCM - close: 36.63 chg: -2.47 stop: 39.15 *new*

We thought BRCM looked weak but we didn't expect a 6.3% decline today. Volume on the sell-off was pretty strong at about double the daily average, which is bearish. Our target is the $36.00-35.50 range to account for the simple 200-dma (35.83) and we would not hesitate to exit near $36.00. One note of caution, we expect the 200-dma to act as technical support for BRCM. We also expect the 200-dma to act as support for the SOX semiconductor index. Today's 2.2% decline in the SOX left the index pretty close to its rising 200-dma. We're not suggesting new positions and we're lowering our stop loss to $39.15.

Picked on May 10 at $39.10
Change since picked: - 2.47
Earnings Date 07/20/06 (unconfirmed)
Average Daily Volume: 13.7 million

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Blyth Inc. - BTH - close: 20.41 chg: -0.24 stop: 20.55

There is still no change with BTH. The stock is hovering under resistance near $21.00. We're still suggesting a trigger to short the stock at $19.79 under the March low. If triggered we will target a decline into the $18.25-18.00 range since the $18.00 level has been support in the past.

Picked on April xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 05/24/06 (unconfirmed)
Average Daily Volume: 185 thousand

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Coach Inc. - COH - close: 31.27 chg -0.38 stop: 33.51

COH sank to another new six-month low today and shares traded at our trigger to short the stock at $31.45. The play is now open and our target is the $28.25-27.50 range. More aggressive traders may want to aim lower.

Picked on May 11 at $31.45
Change since picked: - 0.18
Earnings Date 04/25/06 (confirmed)
Average Daily Volume: 2.3 million

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Hi-Tech Pharma - HITK - close: 21.44 chg: -1.47 stop: 25.01

Thursday was another rough day for HITK. The stock broke down under potential support at $22.00 and closed with a 6.4% decline. We do not see any changes from our new play description. Our target is the $20.25-20.00 range.

Picked on May 10 at $22.91
Change since picked: - 1.47
Earnings Date 03/09/06 (confirmed)
Average Daily Volume: 154 thousand

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Red Robin - RRGB - close: 43.75 chg: -1.16 stop: 46.01 *new*

Good news. It looks like RRGB has finally made a decisive break downward. The stock has closed under the $45.00 level and its 50 and 100-dma's. Our target is the $40.25-40.00 range. More aggressive traders may want to aim lower. We'll plan to exit ahead of the mid-May earnings report. Please note we're lowering the stop loss to $46.01.

Picked on April 26 at $43.99
Change since picked: - 0.24
Earnings Date 05/18/06 (confirmed)
Average Daily Volume: 355 thousand

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Tiffany & Co. - TIF - close: 33.63 chg: -0.27 stop: 35.51 *new*

Another day, another decline for TIF. We do not see any changes from our previous updates except that we're adjusting the stop loss to $35.51. Our target is the $32.25-31.75 range.

Picked on April 25 at $35.11
Change since picked: - 1.48
Earnings Date 03/28/06 (confirmed)
Average Daily Volume: 1.3 million
 

Closed Long Plays

Phillips Van-Heusen - PVH - cls: 37.18 chg: -0.82 stop: 37.49

PVH's secondary offering induced decline from yesterday just kept right on going today. The stock was weak from the start and we were stopped out at $37.49.

Picked on April 19 at $38.59
Change since picked: - 1.41
Earnings Date 06/19/06 (unconfirmed)
Average Daily Volume: 332 thousand
 

Closed Short Plays

Healthcare Rlty - HR - cls: 32.49 chg: -1.08 stop: 36.26

Target achieved. We can't find the news but something sparked a gap down in shares of HR today. The stock opened at $33.67 and fell sharply this morning to eventually close with a 3.2% loss near the lows of the session. Volume came in above average, which is bearish. Our target was the $32.50-32.00 range so we're closing the play but the move today looks pretty bad and more aggressive traders may want to aim lower.

Picked on May 04 at $35.32
Change since picked: - 2.83
Earnings Date 05/03/06 (confirmed)
Average Daily Volume: 212 thousand
 

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