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Long Play Updates

Crane Co - CR - close: 41.19 change: -1.45 stop: 40.99

The growing bullish bounce in shares of CR got squashed today during one of the worst sessions the market has seen in months. Shares closed under technical support at its 50-dma but are still holding on to price support near $41.00 for now. More conservative traders will want to consider exiting right now. Odds are really high that if the markets dip at all tomorrow morning we'll be stopped out at $40.99.

Picked on May 16 at $42.64
Change since picked: - 1.45
Earnings Date 07/24/06 (unconfirmed)
Average Daily Volume: 288 thousand

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Health Net. - HNT - close: 41.65 chg: +0.53 stop: 39.49*new*

Healthcare-related issues are normally seen as defensive plays, which do better during times of market turmoil. Shares of HNT lived up to that stereotype today with a 1.2% gain. Volume came in strong, which is bullish for the stock. Even though HNT is showing strength we still hesitate to open new long positions with the markets looking this bearish. We are raising our stop loss to $39.49. The $40.00 level should be short-term support. Our target is the $44.50-45.00 range.

Picked on May 16 at $41.12
Change since picked: + 0.53
Earnings Date 08/07/06 (unconfirmed)
Average Daily Volume: 1.1 million

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Universal Health - UHS - close: 52.40 chg: -0.00 stop: 49.95

Failure to participate in the market's decline today sounds like relative strength to us. Yet while UHS is holding on to its bullish trend, and short-term support at the 10-dma, we hesitate to open new long positions in this environment. 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

Coach Inc. - COH - close: 29.95 chg -0.38 stop: 32.51*new*

COH continued to sink today and shares hit $29.20 before bouncing. What concerns us is the bounce. The candlestick today looks like a bullish reversal and even though volume was very strong on the decline today we're expecting a bounce tomorrow. We are going to lower our stop loss to $32.51. More conservative traders may want to put their stop closer to $32.00. 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: - 1.50
Earnings Date 04/25/06 (confirmed)
Average Daily Volume: 2.3 million

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Juniper Networks - JNPR - cls: 16.87 chg: +0.30 stop: 18.01

Yesterday we expressed concern that JNPR look poised to bounce today. The stock delivered with a 1.8% gain on strong volume. This is a warning sign for the bears. We would expect the bounce to continue tomorrow and we'd watch for the $17.39 (10-dma) or the $17.70 region to act as resistance. Our target is the $15.10-15.00 range.

Picked on May 12 at $16.89
Change since picked: - 0.02
Earnings Date 07/19/06 (unconfirmed)
Average Daily Volume: 11.2 million

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K-Swiss - KSWS - close: 27.55 chg: -0.26 stop: 29.01

Shares of KSWS did lose about 0.9% today but we're starting to sour on the stock as a bearish candidate. Considering the stock's bearish posture today would have been a great excuse to sell. Yet shares actually spent most of the session trading sideways and volume came in below average. 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.

Picked on May 12 at $27.45
Change since picked: + 0.10
Earnings Date 04/27/06 (confirmed)
Average Daily Volume: 300 thousand

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Yahoo! - YHOO - close: 30.10 chg: -0.87 stop: 32.55

Investors were not impressed by YHOO's presentation at its analyst conference today. Shares sold off with the rest of the market and the stock closed down 2.8 on heavy volume. The test now will be to see if shares can breakdown under potential support in the $29.75-30.00 region. The P&F chart points to a $16.00 target. Our target is the $27.00-26.00 range.

Picked on May 14 at $30.81
Change since picked: - 0.71
Earnings Date 07/26/06 (unconfirmed)
Average Daily Volume: 20.2 million
 

Closed Long Plays

None
 

Closed Short Plays

Blyth Inc. - BTH - close: 20.44 chg: +0.07 stop: 20.55

We are running out of time with shares of BTH. The stock did not join the rest of the market in today's sell-off and relative strength is not a great attribute for a bearish candidate. Considering our time frame we're going to drop BTH as a short candidate. Earnings are expected next Wednesday.

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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Red Robin - RRGB - close: 43.84 chg: +0.23 stop: 44.05

It was our plan to exit today near the closing bell to avoid holding over the company's earnings report due out tomorrow. Wall Street is looking for profits of 44 cents a share.

Picked on April 26 at $43.99
Change since picked: - 0.15
Earnings Date 05/18/06 (confirmed)
Average Daily Volume: 355 thousand

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Tiffany & Co. - TIF - close: 32.28 chg: -0.21 stop: 34.65

Target achieved. Shares of TIF gapped open lower at $32.00 this morning. The stock eventually traded back toward the $32.60 region before fading lower again. Our target was $32.25 so we would have closed at the open this morning.

Picked on April 25 at $35.11
Change since picked: - 2.83
Earnings Date 03/28/06 (confirmed)
Average Daily Volume: 1.3 million
 

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