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Long Play Updates

Health Net. - HNT - close: 41.59 chg: -0.06 stop: 39.49

HNT is trying to bounce but it's struggling under the $42.00 level. Volume was light on today's sideways session. 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: + 0.47
Earnings Date 08/07/06 (unconfirmed)
Average Daily Volume: 1.1 million

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Universal Health - UHS - close: 52.61 chg: +0.21 stop: 51.45*new*

UHS is still showing relative strength and the stock actually tagged a new nine-month high today. We are going to raise our stop loss to $51.45. 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: + 0.46
Earnings Date 04/27/06 (confirmed)
Average Daily Volume: 571 thousand
 

Short Play Updates

Coach Inc. - COH - close: 30.51 chg +0.56 stop: 32.51

As we expected shares of COH continued to bounce today. The stock added 1.8% on very strong volume! The volume is somewhat worrisome but the good news here is that COH's momentum struggled at the $31.00 level under the 10-dma. This looks like another lower high in a trend of lower highs. 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: - 0.94
Earnings Date 04/25/06 (confirmed)
Average Daily Volume: 2.3 million

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Juniper Networks - JNPR - cls: 16.10 chg: -0.77 stop: 17.55*new*

JNPR lost 4.5% on strong volume today. Shares closed at new multi-year lows. We don't see any change from our previous updates except an adjustment to our stop loss to $17.55. Our target is the $15.10-15.00 range.

Picked on May 12 at $16.89
Change since picked: - 0.79
Earnings Date 07/19/06 (unconfirmed)
Average Daily Volume: 11.2 million

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K-Swiss - KSWS - close: 27.47 chg: -0.08 stop: 29.01

Volume continues to come in pretty low as KSWS slips lower and that does not inspire a lot of confidence in its descent. The pattern remains bearish but we're suggesting caution here. 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: + 0.02
Earnings Date 04/27/06 (confirmed)
Average Daily Volume: 300 thousand

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Yahoo! - YHOO - close: 29.00 chg: -1.11 stop: 31.31 *new*

The situation looks grim for YHOO. The stock has now broken down under potential support in the $29.75-30.00 range and volume on the sell-off was almost double the average. We do not see any obstacles between YHOO and our target in the $27.00-26.00 range. We are lowering our stop loss to $31.31, just above the simple 10-dma.

Picked on May 14 at $30.81
Change since picked: - 1.81
Earnings Date 07/26/06 (unconfirmed)
Average Daily Volume: 20.2 million
 

Closed Long Plays

Crane Co - CR - close: 40.61 change: -0.58 stop: 40.99

We have been stopped out at $40.99. Shares of CR were holding up okay above support at the $41.00 level until the market sell-off in the last two hours. Shares of CR turned south and stopped us out.

Picked on May 16 at $42.64
Change since picked: - 2.03
Earnings Date 07/24/06 (unconfirmed)
Average Daily Volume: 288 thousand
 

Closed Short Plays

None
 

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