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Long Play Updates

Asta Funding - ASFI - close: 37.68 change: +1.57 stop: 33.95

It was a good day for ASFI. The stock broke out over the 50-dma and closed with a 4.3% gain. Our only complaint would have been to see more volume behind the move. Traders can choose to chase ASFI here or wait for a potential pull back toward $36.50-36.00. Our target is the $39.95-40.00 range.

Picked on June 23 at $36.01
Change since picked: + 1.67
Earnings Date 08/08/06 (unconfirmed)
Average Daily Volume: 165 thousand

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A.S.V.Inc. - ASVI - close: 22.19 change: +0.51 stop: 20.45*new*

ASVI has closed back above the $22.00 level with a 2.4% gain but we're worried about potential resistance at its descending 50-dma. We are going to raise our stop loss to $20.45. More conservative traders may want to raise their stop toward $21.00 or higher but keep it under the 10-dma (21.35). Our target is the $23.50-24.00 range (for now).

Picked on June 18 at $21.20
Change since picked: + 0.99
Earnings Date 07/27/06 (unconfirmed)
Average Daily Volume: 463 thousand

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Energy Transfer - ETP - close: 44.91 chg: +0.85 stop: 42.85

Thursday proved to be a very strong day for oil stocks and traders bought the dip in ETP. Shares closed with a 1.9% gain on above average volume. Our target is the $47.50-48.00 range.

Picked on June 18 at $44.25
Change since picked: + 0.66
Earnings Date 07/10/06 (unconfirmed)
Average Daily Volume: 149 thousand

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Ryder Systems - R - close: 58.56 chg: +2.79 stop: 54.99*new*

The post-Fed decision move in R was very strong. The stock closed with a 5% gain on strong volume. Our target is the $59.85-60.00 range. We're going to inch up our stop loss to $54.99 for now.

Picked on June 25 at $56.35
Change since picked: + 2.21
Earnings Date 07/27/06 (unconfirmed)
Average Daily Volume: 644 thousand

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Starbucks - SBUX - close: 37.97 chg: +2.24 stop: 34.98

Our bullish play in SBUX is now open. SBUX was already showing strength ahead of the Fed announcement and afterwards the stock just exploded higher. The breakout over its 50-dma and the $37.00 level is very bullish. Volume on today's 6.2% gain was strong, which is also bullish. Our trigger to go long was at $37.05. Our target is the $39.95-40.00 range.

Picked on June 29 at $37.05
Change since picked: + 0.92
Earnings Date 08/02/06 (unconfirmed)
Average Daily Volume: 6.0 million

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Verizon Comm. - VZ - close: 33.30 change: +0.69 stop: 31.90

VZ was already showing strength ahead of the FOMC announcement and afterwards shares rallied to a new relative high. Our target is the $34.75-35.00 range.

Picked on June 18 at $32.54
Change since picked: + 0.76
Earnings Date 07/25/06 (unconfirmed)
Average Daily Volume: 9.8 million
 

Short Play Updates

Juniper Networks - JNPR - close: 16.02 chg: +0.44 stop: 17.05

The big market rally today definitely puts us on the defensive here with JNPR. We're not suggesting new bearish positions. More conservative traders may want to tighten their stops to $16.50 or $16.25, especially now that the weekly chart's newest candlestick is shaping up to be a bullish reversal-type pattern.

Picked on June 19 at $15.89
Change since picked: + 0.13
Earnings Date 07/19/06 (unconfirmed)
Average Daily Volume: 13.8 million

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4 Kids Enter. - KDE - cls: 15.75 change: +0.57 stop: 16.01 *new*

The post-FOMC reaction in KDE was pretty strong. Shares added 3.75%. Conservative types may want to just exit early right here. We're tightening our stop to $16.01.

Picked on June 19 at $15.45
Change since picked: + 0.30
Earnings Date 08/09/06 (unconfirmed)
Average Daily Volume: 113 thousand

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Medtronic - MDT - close: 47.00 change: +0.01 stop: 50.01*new*

We are surprised by MDT's relative weakness today. The stock failed to participate in the market rally. Weighing on the stock were some less than bullish analyst comments. Our target is the $45.50-45.00 range. We do not want to hold over the August earnings report. Please note that we're adjusting the stop loss to $50.01.

Picked on June 21 at $49.49
Change since picked: - 2.49
Earnings Date 08/22/06 (unconfirmed)
Average Daily Volume: 10.8 million

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NitroMed - NTMD - close: 4.57 change: +0.34 stop: 5.31

Ouch! NTMD just cut our unrealized gains in half. The overall pattern remains bearish but more conservative traders may want to exit early. We're not suggesting new plays.

Picked on June 18 at $ 5.07
Change since picked: - 0.50
Earnings Date 07/31/06 (unconfirmed)
Average Daily Volume: 710 thousand
 

Closed Long Plays

Syneron Med. - ELOS - close: 20.67 change: +0.07 stop: 19.99

ELOS failed to participate in the market-wide rally today. Therefore we're choosing to exit early and cut our losses here. Readers may want to reconsider new bullish positions if ELOS trades over $21.60 or its 50-dma.

Picked on June 21 at $21.51
Change since picked: - 0.84
Earnings Date 08/03/06 (unconfirmed)
Average Daily Volume: 615 thousand
 

Closed Short Plays

General Motors - GM - close: 27.44 chg: +0.78 stop: 27.41

We have been stopped out of GM at $27.41. The market strength was too much or maybe it was end of quarter window dressing. Whatever it was GM continued to bounce after Tuesday's big bearish reversal.

Picked on June 27 at $25.90
Change since picked: + 1.54
Earnings Date 07/26/06 (unconfirmed)
Average Daily Volume: 12.6 million

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Middlesex Water - MSEX - cls: 17.48 chg: +0.38 stop: 17.55

We have been stopped out at $17.55. The post-Fed announcement rally stopped us out right in the last five minutes of trading.

Picked on June 20 at $16.90
Change since picked: + 0.58
Earnings Date 05/08/06 (confirmed)
Average Daily Volume: 28 thousand

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Zebra Tech. - ZBRA - close: 34.05 chg: +0.86 stop: 34.05

ZBRA is another casualty of the market rally. In the last few minutes of trading the stock hit our stop loss at $34.05. The breakout higher from its bearish pattern looks like a new bullish entry point.

Picked on June 27 at $32.91
Change since picked: + 1.14
Earnings Date 07/26/06 (unconfirmed)
Average Daily Volume: 586 thousand
 

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