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Long Play Updates

Archstone - ASN - close: 49.38 chg: -0.51 stop: 47.75

ASN is holding up pretty well considering the market sell-off. However, this sideways consolidation is weighing on the technical indicators and some are starting to turn bearish. We are not suggesting new plays at this time. Our target is the $53.85-54.00 range. The Point & Figure chart for ASN has produced a triple-top breakout buy signal with a $70.00 target. More conservative traders may want to use a tighter stop (maybe around $48.50).

Picked on June 05 at $50.21
Change since picked: - 0.83
Earnings Date 07/26/06 (unconfirmed)
Average Daily Volume: 989 thousand

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Potlatch - PCH - close: 38.00 chg: -0.13 stop: 36.99

Shares of PCH are also holding up relatively well considering the widespread market weakness. However, today's session was more bearish than the final numbers might suggest. The stock produced another failed rally at its 50-dma and volume came in above average. We are not suggesting new plays at this time.

Picked on June 04 at $39.39
Change since picked: - 1.39
Earnings Date 07/17/06 (unconfirmed)
Average Daily Volume: 362 thousand

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Ryanair - RYAAY - close: 52.26 change: -0.24 stop: 49.95

RYAAY out performed its peers in the airline sector. The XAL index lost 2.88% while RYAAY only fell 0.4%. Shares of RYAAY spent the session consolidating sideways above the $52.00 level but we're worried that if the major market indices continue lower then RYAAY will eventually succumb. If you're looking for a new entry point keep an eye out for a dip and bounce near the $51.00 region. Our target is the $53.90-54.00 range.

Picked on June 08 at $51.34
Change since picked: + 0.92
Earnings Date 07/31/06 (unconfirmed)
Average Daily Volume: 304 thousand

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UST Inc. - UST - close: 45.03 chg: +0.05 stop: 42.99

UST displayed some relative strength today but we'd still wait to open new plays. Look for a dip toward the $44.50-44.00 region and buy a bounce there. The P&F chart points to $53.00. Our target is the $47.50-48.00 range. More conservative types may want to use a tighter stop near $43.50. We do not want to hold over the July earnings report.

Picked on June 08 at $44.71
Change since picked: + 0.32
Earnings Date 07/20/06 (unconfirmed)
Average Daily Volume: 1.2 million
 

Short Play Updates

Autodesk - ADSK - close: 34.74 change: +0.29 stop: 36.65

We do not see any changes from our weekend update. However, today's relative strength in ADSK does make us more cautious. The $36.00 level should be short-term overhead resistance. Our exit strategy is to sell part of your position in the $32.60-32.50 range and the rest in the $30.75-30.50 range. The P&F chart currently points to a $26.00 target.

Picked on June 06 at $34.89
Change since picked: - 0.15
Earnings Date 08/01/06 (unconfirmed)
Average Daily Volume: 3.2 million

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Avid Tech. - AVID - close: 36.56 change: -0.79 stop: 39.41

AVID lost 2.11%, which helped the MACD indicator confirm the new sell signal. We do not see any changes from our new play description this past weekend. Our target is the $32.50 mark but readers should be prepared for a bounce near $35.50-36.00. Traders can open positions here or use a failed rally under the 50-dma.

Picked on June 11 at $37.35
Change since picked: - 0.79
Earnings Date 08/03/06 (unconfirmed)
Average Daily Volume: 763 thousand

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Drew Industry - DW - close: 28.54 chg: -1.10 stop: 30.75

The selling pressure in DW is picking up steam. Shares low another 3.7% following Friday's failed rally near its 200-dma. Our target is the $27.55-27.45 range. The Point & Figure chart points to a $19 target.

Picked on June 07 at $29.67
Change since picked: - 1.13
Earnings Date 05/01/06 (confirmed)
Average Daily Volume: 129 thousand

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Flowserve - FLS - close: 49.12 chg: -1.70 stop: 52.25

Our bearish play with FLS is now open. The stock broke down under support near $50.00 to hit our trigger at $49.90. Volume wasn't that strong, which should wave a caution flag for traders. Our target is the $45.75-45.50 range. The Point & Figure chart is bearish with a $40.00 target.

Picked on June 12 at $49.90
Change since picked: - 0.78
Earnings Date 07/21/06 (unconfirmed)
Average Daily Volume: 579 thousand

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The Geo Group Inc. - GGI - cls: 33.05 chg: -1.09 stop: 36.65

GGI continues to sell off and shares lost 3.19% on Monday. At this time we do not see any changes from our new play description this past weekend. We're suggesting that readers sell/cover part of their positions at $32.25 and then exit any remainder at $30.25. Due to GGI's volatility this is an aggressive, higher-risk play.

Picked on June 11 at $34.14
Change since picked: - 1.09
Earnings Date 05/04/06 (confirmed)
Average Daily Volume: 135 thousand

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Blue Nile - NILE - close: 29.34 chg: -0.78 stop: 32.01

NILE is once again under the $30.00 level. This is an aggressive short play and more conservative traders may want to pass on it or wait for a decline below the $29.27 level (under the February lows) or the $29.00 mark. NILE does have very high short interest, which increases the risk of a short squeeze. Our target is the $25.50-25.00 range. The P&F chart points to a $15 target.

Picked on June 08 at $29.45
Change since picked: - 0.11
Earnings Date 08/01/06 (unconfirmed)
Average Daily Volume: 212 thousand
 

Closed Long Plays

None
 

Closed Short Plays

None
 

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