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Long Play Updates

Asta Funding - ASFI - close: 36.11 change: +0.62 stop: 33.95

ASFI displayed some relative strength today with a 1.7% gain. Unfortunately, volume was very low as investors wait for the FOMC decision on interest rates tomorrow afternoon. The move over $36.00 looks like an entry point but we would hesitate to open new plays before the Fed announcement. Our target is the $39.95-40.00 range.

Picked on June 23 at $36.01
Change since picked: + 0.10
Earnings Date 08/08/06 (unconfirmed)
Average Daily Volume: 165 thousand

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A.S.V.Inc. - ASVI - close: 21.68 change: -0.01 stop: 19.99

There is no change from our previous updates. Traders sat in a holding pattern with ASVI as we wait for the Fed decision. We would not consider new bullish positions at this time. Our target is the $23.50-24.00 range (for now).

Picked on June 18 at $21.20
Change since picked: + 0.48
Earnings Date 07/27/06 (unconfirmed)
Average Daily Volume: 463 thousand

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Syneron Med. - ELOS - close: 20.60 change: +0.02 stop: 19.99

Same story, different stock. ELOS traded sideways as the market waits for the FOMC decision. The technical picture for ELOS continues to decay. We are not suggesting new bullish positions at this time. More conservative traders may want to consider cutting their losses here or near $20.50.

Picked on June 21 at $21.51
Change since picked: - 0.91
Earnings Date 08/03/06 (unconfirmed)
Average Daily Volume: 615 thousand

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Energy Transfer - ETP - close: 44.06 chg: -0.90 stop: 42.85*new*

We don't know what happened to ETP today. Shares lost 2% on no news compared to gains in the rest of the oil sector. We were expecting a pull back as ETP neared resistance in the $45.80-46.00 region. This could be it. We're going to raise our stop loss to $42.85, just under the rising 50-dma. We're not suggesting new plays at this time with the Fed decision tomorrow.

Picked on June 18 at $44.25
Change since picked: - 0.19
Earnings Date 07/10/06 (unconfirmed)
Average Daily Volume: 149 thousand

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Ryder Systems - R - close: 55.77 chg: +0.14 stop: 54.75

Traders bought the dip near $55.00 this morning. That's a good sign. However, we would hesitate to open new positions ahead of the FOMC decision tomorrow.

Picked on June 25 at $56.35
Change since picked: - 0.58
Earnings Date 07/27/06 (unconfirmed)
Average Daily Volume: 644 thousand

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Starbucks - SBUX - close: 35.73 chg: -0.01 stop: 34.98

We see no changes from our weekend update on SBUX. Our trigger to go long the stock is at $37.05 so we remain on the sidelines for now. More conservative traders may want to raise their trigger to $37.15 or $37.25 just to make sure that we're catching a real breakout past resistance. 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: 32.61 change: +0.17 stop: 31.90

VZ is bouncing sideways as investors wait for the Fed decision tomorrow. We are not suggesting new positions at this time nor do we see any changes from our previous updates.

Picked on June 18 at $32.54
Change since picked: + 0.07
Earnings Date 07/25/06 (unconfirmed)
Average Daily Volume: 9.8 million
 

Short Play Updates

General Motors - GM - close: 26.66 chg: +0.76 stop: 27.41

GM produced a big bounce today adding 2.9% on above average volume. This is obviously a tough start for our new short play but it looks like the rally stalled this afternoon near $27.00. We are not suggesting new short positions in GM ahead of the Fed decision tomorrow although traders might want to use a drop under $25.90 as a new entry point anyway.

Picked on June 27 at $25.90
Change since picked: + 0.76
Earnings Date 07/26/06 (unconfirmed)
Average Daily Volume: 12.6 million

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Juniper Networks - JNPR - close: 15.58 chg: +0.16 stop: 17.05

There is no change from our previous updates for JNPR. The stock is trading sideways as the markets wait for the interest-rate decision. 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: - 0.31
Earnings Date 07/19/06 (unconfirmed)
Average Daily Volume: 13.8 million

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4 Kids Enter. - KDE - close: 15.18 change: -0.25 stop: 16.05

The relative weakness in KDE on Wednesday is encouraging. Shares lost 1.6% on above average volume. We are not suggesting new plays tomorrow. Our target is the $12.60-12.50 range. The P&F chart sports a triple-bottom breakdown sell signal with an $11.50 target.

Picked on June 19 at $15.45
Change since picked: - 0.27
Earnings Date 08/09/06 (unconfirmed)
Average Daily Volume: 113 thousand

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Medtronic - MDT - close: 46.99 change: -0.25 stop: 51.01

There are no changes from yesterday's update. MDT is oversold and due for a bounce. Conservative traders might want to do some profit taking before the FOMC announcement. 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: - 2.50
Earnings Date 08/22/06 (unconfirmed)
Average Daily Volume: 10.8 million

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Middlesex Water - MSEX - cls: 17.10 chg: +0.08 stop: 17.55*new*

MSEX bounced around today as investors wait for the Fed announcement tomorrow. We're not suggesting new plays at this time. Please note we are adjusting the stop loss to $17.55.

Picked on June 20 at $16.90
Change since picked: + 0.20
Earnings Date 05/08/06 (confirmed)
Average Daily Volume: 28 thousand

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NitroMed - NTMD - close: 4.23 change: -0.14 stop: 5.31

NTMD lost another 3.2% and the MACD on its daily chart finally produced a new sell signal. More conservative traders may want to lock in some gains right here, ahead of the FOMC announcement, since NTMD is down 16.5% from our picked price. Traders might also want to consider tightening their stops. Our target is the $3.70-3.60 range but we are thinking about adjusting it to the $4.05-4.00 range.

Picked on June 18 at $ 5.07
Change since picked: - 0.84
Earnings Date 07/31/06 (unconfirmed)
Average Daily Volume: 710 thousand

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Zebra Tech. - ZBRA - close: 33.19 chg: +0.28 stop: 34.05

There are no changes from our new play description from Tuesday night. ZBRA churned sideways on Wednesday as investors wait for the interest-rate announcement. We'd hesitate to open new plays before the Fed meeting is over. The P&F chart looks very bearish with an $18 target. We are aiming for a decline into the $30.25-30.00 range. We do not want to hold over the July earnings report.

Picked on June 27 at $32.91
Change since picked: + 0.28
Earnings Date 07/26/06 (unconfirmed)
Average Daily Volume: 586 thousand
 

Closed Long Plays

None
 

Closed Short Plays

The Geo Group Inc. - GGI - cls: 34.23 chg: +1.80 stop: 35.05

We are suggesting that traders exit early in GGI. We could not find any news to explain the stock's strength on Wednesday. Shares added 5.5% on above average volume. It could be a short squeeze but we don't know. Our conservative target at $32.25 had already been hit.

Picked on June 11 at $34.14
Change since picked: + 0.09
Earnings Date 05/04/06 (confirmed)
Average Daily Volume: 135 thousand
 

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