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In Play Updates and Reviews

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Long Play Updates

Health Net. - HNT - close: 41.92 chg: +0.09 stop: 39.95

Two days running traders have bought the dip near HNT's rising 10-dma. That's a positive sign and the stock looks ready to climb higher tomorrow. We continue to target the $44.50-45.00 range.

Picked on May 16 at $41.12
Change since picked: + 0.80
Earnings Date 08/07/06 (unconfirmed)
Average Daily Volume: 1.1 million

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SLM Corp. - SLM - close: 54.82 chg: +0.31 stop: 53.35 *new*

Volume was not very inspiring today but SLM broke out and closed over its 100-dma making this look like a new bullish entry point. Our target is the 57.40-57.50 range. We are going to raise our stop loss to $53.35.

Picked on May 22 at $55.21*gap higher*
Change since picked: - 0.39
Earnings Date 07/20/06 (unconfirmed)
Average Daily Volume: 2.0 million
 

Short Play Updates

Akamai - AKAM - close: 32.32 chg: +2.80 stop: 33.01

Whoa! The rebound in AKAM was pretty sharp today. Maybe it was the big bounce in the INX Internet sector, inspired by strength in Yahoo and Ebay, but it looks like AKAM experienced some serious short covering. We are not suggesting new bearish positions at this time. More importantly, if you look at the rebound in the INX Internet index back through significant moving averages and the rebound in AKAM back over $32.00 and its 50-dma you may want to give some serious thought to jumping out of this play immediately.

Picked on May 23 at $31.15
Change since picked: + 1.17
Earnings Date 07/26/06 (unconfirmed)
Average Daily Volume: 3.2 million

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K-Swiss - KSWS - close: 27.36 chg: +0.36 stop: 28.05 *new*

Short-term technicals are starting to turn bullish with the two-day bounce in KSWS. We are not suggesting new positions at this time. We're expecting a rebound into the $27.75-28.00 region. We'll try and minimize our risk by adjusting our stop loss to $28.05.

Picked on May 12 at $27.45
Change since picked: - 0.09
Earnings Date 04/27/06 (confirmed)
Average Daily Volume: 300 thousand

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Starbucks - SBUX - close: 35.44 chg: +0.23 stop: 36.65

SBUX's initial rally attempt today failed near $36.00 and its descending 10-dma. While that's good news for our bearish play we remain wary given the market-wide rebound on Thursday. We would probably not consider new bearish positions at this time. 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: - 0.15
Earnings Date 08/02/06 (unconfirmed)
Average Daily Volume: 5.7 thousand

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Ryan's Restaurant - RYAN - cls: 12.97 chg: +0.21 stop: 13.01

Double-check your stop loss placement. A late day rally in RYAN pushed the stock to a 1.6% gain. Shares look poised to hit our stop loss tomorrow at $13.01.

Picked on May 22 at $12.29
Change since picked: + 0.68
Earnings Date 04/26/06 (confirmed)
Average Daily Volume: 268 thousand
 

Closed Long Plays

None
 

Closed Short Plays

Comcast - CMCSA - close: 31.86 chg: +0.73 stop: 31.81

We have been stopped out of CMCSA at 31.81. The stock gapped open (31.47) and rallied to $31.90 at its highs. The recent consolidation is starting to look a bit like a bull-flag pattern. If shares clear resistance near $32.35 traders might want to consider going long.

Picked on May 24 at $30.85
Change since picked: + 1.01
Earnings Date 02/16/06 (unconfirmed)
Average Daily Volume: thousand
 

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