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Long Play Updates

Asta Funding - ASFI - close: 35.06 change: -0.05 stop: 33.95

We do not see any changes from our previous updates on ASFI. The stock is still consolidating in such a way that it looks like the next move will be a breakout higher. The MACD is very close to a new buy signal. Aggressive traders might want to consider new positions here over $35.00. We're going to stock to our plan with a trigger at $36.01.

Picked on June xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 08/08/06 (unconfirmed)
Average Daily Volume: 165 thousand

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A.S.V.Inc. - ASVI - close: 21.24 change: -0.16 stop: 19.99*new*

The bounce in stocks has stalled and shares of ASVI failed to breakout past the $22 level. We are raising our stop loss to $19.99 and we're not suggesting new bullish positions at this time. We do not want to hold over the company's earnings report in late July.

Picked on June 18 at $21.20
Change since picked: + 0.04
Earnings Date 07/27/06 (unconfirmed)
Average Daily Volume: 463 thousand

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Archstone - ASN - close: 49.89 chg: -0.60 stop: 48.99

Bad news! There was no follow through on ASN's bullish breakout yesterday. The MACD is creeping closer to a new sell signal. We are not suggesting new long positions.

Picked on June 05 at $50.21
Change since picked: - 0.32
Earnings Date 07/26/06 (unconfirmed)
Average Daily Volume: 989 thousand

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Syneron Med. - ELOS - close: 21.00 change: -0.42 stop: 19.99

The bounce from the intraday low near $20.60 is a positive but we're starting to worry about ELOS' upward momentum, especially if the market's turn lower again tomorrow. We would not suggest new bullish positions at this time.

Picked on June 21 at $21.51
Change since picked: - 0.51
Earnings Date 08/03/06 (unconfirmed)
Average Daily Volume: 615 thousand

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Energy Transfer - ETP - close: 44.67 chg: +0.47 stop: 42.49

Energy was the only major sector to close in the green today. This helped propel ETP to a new two-week high. Technicals look more positive. We would still consider new bullish positions here. Our target is the $47.50-48.00 range.

Picked on June 18 at $44.25
Change since picked: + 0.42
Earnings Date 07/10/06 (unconfirmed)
Average Daily Volume: 149 thousand

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Potlatch - PCH - close: 37.32 chg: -0.62 stop: 36.99

Uh-oh! PCH has fallen back toward the bottom of its trading range and support near $37.00. This doesn't look good for us. If the major indices are weak tomorrow it wouldn't surprised us to be stopped out of PCH at $36.99.

Picked on June 04 at $39.39
Change since picked: - 2.07
Earnings Date 07/17/06 (unconfirmed)
Average Daily Volume: 362 thousand

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Ryanair - RYAAY - close: 52.59 change: -0.37 stop: 51.34*new*

That's two days in a row that RYAAY has failed near the $53.45 level. The next move for the stock would appear to be a decline towards $52.00 and its 10-dma and 100-dma. We are raising the stop loss to breakeven at $51.34. We're not suggesting new plays. Our goal is the $53.90-54.00 range, where we expect RYAAY to have resistance at its trendline of lower highs.

Picked on June 08 at $51.34
Change since picked: + 1.55
Earnings Date 07/31/06 (unconfirmed)
Average Daily Volume: 304 thousand

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Starbucks - SBUX - close: 36.09 chg: -0.33 stop: 34.98

We see no changes from our previous updates for SBUX. We are going to stick to our plan with a trigger to go long at $37.05. If triggered we'll target a rally into the $39.95-40.00 range.

Picked on June xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 08/02/06 (unconfirmed)
Average Daily Volume: 6.0 million

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Verizon Comm. - VZ - close: 32.74 change: -0.13 stop: 31.90 *new*

VZ erased yesterday's gain and more importantly appears to have produced a short-term (bearish) top near $33.25. The next move looks like it will be lower toward the 200-dma around $32.00. We are raising our stop loss to $31.90.

Picked on June 18 at $32.54
Change since picked: + 0.20
Earnings Date 07/25/06 (unconfirmed)
Average Daily Volume: 9.8 million
 

Short Play Updates

Avid Tech. - AVID - close: 33.45 change: -0.75 stop: 37.35*new*

AVID continues to sell off. The stock lost another 2.19% on above average volume. We are lowering our stop loss to $37.35. More conservative traders may want to lock in some profits now. Our target is the $32.50 mark.

Picked on June 11 at $37.35
Change since picked: - 3.90
Earnings Date 08/03/06 (unconfirmed)
Average Daily Volume: 763 thousand

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Cntrl Vermont Pub.Srv - CV - cls: 17.17 chg: +0.52 stop: 17.51 *new*

CV continued to bounce today and shares rallied right up to their three-week trend line of resistance (lower highs). We would use a decline back under $16.90 as a new entry point for shorts. Please note we're adjusting our stop loss to $17.51. Our target is the $15.50 level.

Picked on June 18 at $17.02
Change since picked: + 0.15
Earnings Date 08/07/06 (unconfirmed)
Average Daily Volume: 46 thousand

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The Geo Group Inc. - GGI - cls: 33.45 chg: -0.36 stop: 35.05

We are not suggesting new short plays at this time. Our conservative target was the $32.25 level and our aggressive target is the $30.25 level. More conservative traders may want to tighten their stop losses.

Picked on June 11 at $34.14
Change since picked: - 0.69
Earnings Date 05/04/06 (confirmed)
Average Daily Volume: 135 thousand

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Juniper Networks - JNPR - close: 15.80 chg: -0.03 stop: 17.05

JNPR is still not moving much but the pattern remains bearish. We're suggesting shorts with JNPR under $16.00. More conservative traders may want to see a new relative low under $15.65 first. Our target is the $14.10-14.00 range. We do not want to hold over the mid July earnings report. The P&F chart looks very bearish with an $8.50 target.

Picked on June 19 at $15.89
Change since picked: - 0.09
Earnings Date 07/19/06 (unconfirmed)
Average Daily Volume: 13.8 million

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4 Kids Enter. - KDE - close: 15.42 change: -0.18 stop: 16.05

It looks like KDE has produced a failed rally under its 10-dma. Traders can use this as a new entry point for shorts. Our target is the $12.60-12.50 range.

Picked on June 19 at $15.45
Change since picked: - 0.03
Earnings Date 08/09/06 (unconfirmed)
Average Daily Volume: 113 thousand

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Medtronic - MDT - close: 48.95 change: -0.43 stop: 51.01

MDT raises its quarterly dividend by 14% but that news doesn't stop the selling pressure. Shares drop another 0.8%. We do expect a bounce near the $48.00 level. Be ready for it. Our target is the $45.50-45.00 range. We do not want to hold over the August earnings report.

Picked on June 21 at $49.49
Change since picked: - 0.54
Earnings Date 08/22/06 (unconfirmed)
Average Daily Volume: 10.8 million

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Middlesex Water - MSEX - close: 17.38 change: +0.88 stop: 17.75

MSEX actually experienced some volume today with a lot of action in the last couple of hours. Shares bounced around between $17.05 and $17.60. We would wait for a new decline under $16.90 before considering new shorts. Our target is the $15.15-15.00 range. The P&F chart points to a $12.00 target.

Picked on June 20 at $16.90
Change since picked: + 0.48
Earnings Date 05/08/06 (confirmed)
Average Daily Volume: 28 thousand

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NitroMed - NTMD - close: 4.84 change: -0.18 stop: 5.71

The technicals on NTMD continue to grow more bearish. More conservative traders might want to tighten their stops toward the 50-dma (5.47). Our target is the $3.70-3.60 range.

Picked on June 18 at $ 5.07
Change since picked: - 0.23
Earnings Date 07/31/06 (unconfirmed)
Average Daily Volume: 710 thousand

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Sun Hydraulics - SNHY - cls: 18.02 chg: -0.11 stop: 18.51

We remain very cautious here. SNHY hit our trigger on a spike down this Wednesday. While the lack of follow through on Wednesday's bounce is good we're not out of danger yet. We are not suggesting new bearish plays at this time.

Picked on June 21 at $17.45
Change since picked: + 0.57
Earnings Date 08/08/06 (unconfirmed)
Average Daily Volume: 89 thousand

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Tellabs - TLAB - close: 14.19 change: -0.22 stop: 15.01

We are not suggesting new shorts and the takeover rumors significantly raises the risk level for being short this stock. Our target is the $12.50 mark just above the simple 200-dma. We do not want to hold over the company's July earnings report.

Picked on June 18 at $14.32
Change since picked: - 0.13
Earnings Date 07/25/06 (unconfirmed)
Average Daily Volume: 5.9 million
 

Closed Long Plays

None
 

Closed Short Plays

Blue Nile - NILE - close: 31.71 chg: +1.40 stop: 31.01

It looks like we should have taken our own suggestion to exit early. This morning before the opening bell Lehman Brothers upgraded NILE. The market reacted (shorts panicked) and NILE gapped open at $31.72 and closed with a 4.6% gain. We should have been closed at the open for a wider loss than planned.

Picked on June 08 at $29.45
Change since picked: + 2.26
Earnings Date 08/01/06 (unconfirmed)
Average Daily Volume: 212 thousand

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Redback Networks - RBAK - cls: 21.00 chg: +0.34 stop: 21.01

We have been stopped out of RBAK. Shares traded over the $21.00 level today and closed over technical resistance at its 100-dma. Our stop loss was at $21.01. We would keep an eye on RBAK. The stock could be building a bear-flag pattern. Watch for a breakdown below its short-term pattern of higher lows.

Picked on June 19 at $19.75
Change since picked: + 1.25
Earnings Date 07/19/06 (unconfirmed)
Average Daily Volume: 1.8 million
 

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