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Long Play Updates

Health Net. - HNT - close: 41.83 chg: -0.00 stop: 39.95

We do not see any changes from our previous updates on HNT. Our target remains the $44.50-45.00 range for now but we'll adjust it lower as potential overhead resistance at the 50-dma (44.55) continues to descend.

Picked on May 16 at $41.12
Change since picked: + 0.71
Earnings Date 08/07/06 (unconfirmed)
Average Daily Volume: 1.1 million

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SLM Corp. - SLM - close: 54.51 chg: +0.80 stop: 52.85

SLM displayed some relative strength today with a 1.48% gain. Shares traded over $54.75 on an intraday basis. This was our suggested entry point to go long although more conservative traders may want to wait for a move over $55.00. Our target is the 57.40-57.50 range.

Picked on May 22 at $55.21*gap higher*
Change since picked: - 0.70
Earnings Date 07/20/06 (unconfirmed)
Average Daily Volume: 2.0 million
 

Short Play Updates

Akamai - AKAM - close: 29.52 chg: -1.63 stop: 33.01 *new*

So far so good. AKAM is off to a good start with a 5.2% decline on big volume today. The close under support at the $30.00 level is bearish. More conservative traders might want to tighten their stops toward $32.00. We're going to set our stop loss at $33.01. Our target is the $27.75-27.00 range. More aggressive traders may want to aim lower toward the $25.00 level, which is also support.

Picked on May 23 at $31.15
Change since picked: - 1.63
Earnings Date 07/26/06 (unconfirmed)
Average Daily Volume: 3.2 million

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Comcast - CMCSA - close: 31.13 chg: +0.02 stop: 31.81

Shares of CMCSA turned weak after 2:00 PM today and fell to a new two-week low. The stock hit our trigger to short it at $30.85. The play is open but we have a problem with the bounce back over the $31.00 level. We are not suggesting new plays at this time. Wait for another decline under $30.85. More aggressive traders might want to consider shorts on a failed rally below the simple 10-dma. Our target is the $29.85 mark.

Picked on May 24 at $29.85
Change since picked: + 0.28
Earnings Date 02/16/06 (unconfirmed)
Average Daily Volume: thousand

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K-Swiss - KSWS - close: 27.00 chg: +0.27 stop: 28.51

KSWS produced an oversold bounce today. What concerns us is that volume came in above average. We are not suggesting new positions and more conservative types might want to tighten their stops (suggests are the 28.26 or 28.05 levels). Our target is the $25.15-25.00 range. More aggressive traders may want to aim lower.

Picked on May 12 at $27.45
Change since picked: - 0.69
Earnings Date 04/27/06 (confirmed)
Average Daily Volume: 300 thousand

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Starbucks - SBUX - close: 35.21 chg: -0.38 stop: 36.65

SBUX continues to look weak and today's 1% loss put it under technical support at the 100-dma. We do not see any changes from our new play description on Tuesday. We are going to target the top of its February gap (33.00) with an exit range of $33.15-33.00.

Picked on May 23 at $35.59
Change since picked: - 0.38
Earnings Date 08/02/06 (unconfirmed)
Average Daily Volume: 5.7 thousand

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Ryan's Restaurant - RYAN - cls: 12.76 chg: +0.06 stop: 13.01

Another bounce in shares of RYAN does not look good for the bears. Traders might want to consider an early exit right here to minimize their losses. We are not suggesting new plays.

Picked on May 22 at $12.29
Change since picked: + 0.47
Earnings Date 04/26/06 (confirmed)
Average Daily Volume: 268 thousand
 

Closed Long Plays

Iconix Brand - ICON - close: 15.29 chg: -1.10 stop: 15.99

It looks like yesterday's session was nothing but a speed bump on the way down. ICON continued to sell off this morning and we would have been stopped out at $15.99. Volume on the sell-off was pretty strong suggesting more weakness ahead. The next level of support looks like the $14.50-14.00 range, bolstered by the 100-dma.

Picked on May 21 at $17.38
Change since picked: - 2.09
Earnings Date 07/27/06 (unconfirmed)
Average Daily Volume: 498 thousand
 

Closed Short Plays

Coach Inc. - COH - close: 28.43 chg -1.04 stop: 31.55

Target achieved. COH's recent sell-off has finally come to fruition with a dip toward support near $28.00. Our target was the $28.25-27.50 range. The low today was $27.91.

Picked on May 11 at $31.45
Change since picked: - 3.02
Earnings Date 04/25/06 (confirmed)
Average Daily Volume: 2.3 million
 

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