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Long Play Updates

Universal Health - UHS - close: 52.40 chg: -0.17 stop: 49.95

UHS is trying to creep higher but the stock is struggling to keep its upward momentum. Normally healthcare-related issues are seen as a defensive play but that didn't seem to help shares of UHS today. The trend remains positive but we'd look for a bounce from $52.00 or its 10-dma as the next potential entry point. Our target is the $56.00-57.00 range. The P&F chart points to a $64 target.

Picked on May 10 at $52.15
Change since picked: + 0.25
Earnings Date 04/27/06 (confirmed)
Average Daily Volume: 571 thousand
 

Short Play Updates

Blyth Inc. - BTH - close: 20.37 chg: -0.01 stop: 20.55

There is still no change for our BTH play. We're still on the sidelines waiting for a breakdown under support. However, chart readers will note that BTH has produced another "lower low" or failed rally today. Aggressive traders might want to consider short positions with a really tight stop. For the rest of us we're suggesting a trigger at $19.79. 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. The May 24th earnings date is still unconfirmed but assuming that's the date we only have one week for this play to open and drop for us. Keep that in mind.

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: 30.33 chg -0.31 stop: 33.01

Shares of COH continue to feel the pain as the stock's early morning rally failed near $31.00. COH closed the session with a 1% loss on another day of very strong volume. More conservative traders may want to tighten their stop loss. Our target is the $28.25-27.50 range. More aggressive traders may want to aim lower since the P&F chart points to a $24 target.

Picked on May 11 at $31.45
Change since picked: - 1.12
Earnings Date 04/25/06 (confirmed)
Average Daily Volume: 2.3 million

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Juniper Networks - JNPR - cls: 16.57 chg: -0.33 stop: 18.01

It was a somewhat volatile session for JNPR today. The stock slipped most of the day to hit a new two-and-a-half year low at $16.17 before a sharp afternoon bounce erased some of the weakness. Volume on the session was above average. We suspect that JNPR will continue to bounce tomorrow. Watch for potential resistance at $17.00 or 17.50-17.75. Our target is the $15.10-15.00 range.

Picked on May 12 at $16.89
Change since picked: - 0.33
Earnings Date 07/19/06 (unconfirmed)
Average Daily Volume: 11.2 million

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K-Swiss - KSWS - close: 27.81 chg: -0.18 stop: 29.01

We have nothing new to report on for KSWS except that we're encouraged by today's weakness. We'd probably wait for a new decline under $27.50 before considering new bearish positions. Our target is the $25.15-25.00 range. More aggressive traders may want to aim lower. The P&F chart points to a $21.00 target. Be advised that the most recent data puts short interest at 5.8% of KSWS' 27 million-share float. That raises the risk of a short squeeze.

Picked on May 12 at $27.45
Change since picked: + 0.36
Earnings Date 04/27/06 (confirmed)
Average Daily Volume: 300 thousand

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Red Robin - RRGB - close: 43.60 chg: +0.45 stop: 44.05*new*

Tomorrow is our last day. We plan to exit near the closing bell to avoid holding over RRGB's earnings report on the 18th. In an effort to reduce our risk we're going to set the stop loss at $44.05.

Picked on April 26 at $43.99
Change since picked: - 0.39
Earnings Date 05/18/06 (confirmed)
Average Daily Volume: 355 thousand

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Tiffany & Co. - TIF - close: 32.49 chg: -0.17 stop: 34.65*new*

TIF continues to show relative weakness but we want to remind readers that the stock looks very short-term oversold and due for a bounce. This is the second day in a row that the stock found support in the $32.33-32.34 region. That could be indicating a new level of support. Our target is the $32.25 mark but traders may want to seriously think about exiting early right here. We are going to lower our stop loss to $34.65.

Picked on April 25 at $35.11
Change since picked: - 2.62
Earnings Date 03/28/06 (confirmed)
Average Daily Volume: 1.3 million

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Yahoo! - YHOO - close: 30.97 chg: -0.06 stop: 32.55

YHOO is still oscillating sideways between $30.50 and $31.25. We suspect that the stock is just churning in place until money managers return from YHOO's analyst day tomorrow. Tomorrow's conference could easily be the spark the stock needs to move (either direction). More conservative traders may want to take a wait-and-see approach instead of opening positions ahead of the meeting. The $32.00 level and the 50-dma should be overhead resistance. Our target is the $27.00-26.00 range. Readers should note that short interest is about 6% of YHOO's 1.2 billion-share float.

Picked on May 14 at $30.81
Change since picked: + 0.16
Earnings Date 07/26/06 (unconfirmed)
Average Daily Volume: 20.2 million
 

Closed Long Plays

None
 

Closed Short Plays

Hi-Tech Pharma - HITK - close: 20.41 chg: -0.75 stop: 24.01

Target achieved. In spite of recent attempts at a bounce, shares of HITK hit new relative lows this morning at $20.13. Our target was the $20.25-20.00 range.

Picked on May 10 at $22.91
Change since picked: - 2.50
Earnings Date 03/09/06 (confirmed)
Average Daily Volume: 154 thousand

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Psychiatric Sol. - PSYS - cls: 30.16 chg: +0.67 stop: 30.25

As we feared, the bounce from Monday continued into Tuesday's session and we've been stopped out at $30.25. If you look at the chart below you'll see that today's session pushed PSYS through two levels of what should have been significant resistance. The close over $30.00 and its simple 10-dma is not good news for the bears and could spark more covering.

Picked on May 15 at $27.75
Change since picked: + 2.41
Earnings Date 07/26/06 (unconfirmed)
Average Daily Volume: 645 thousand
 

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