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Long Play Updates

Asta Funding - ASFI - close: 36.35 change: -1.47 stop: 34.95

ASFI has taken a turn for the worse. Shares have closed back under their 50-dma and are resting near short-term technical support at the 10-dma. We are not suggesting new positions at this time. More conservative traders may want to put their stop near $36.00. We suspect that if the market continues lower that ASFI will dip toward potential support near $35.00 and its 100-dma.

Picked on June 23 at $36.01
Change since picked: + 0.34
Earnings Date 08/08/06 (unconfirmed)
Average Daily Volume: 165 thousand

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A.S.V.Inc. - ASVI - close: 22.63 change: -0.77 stop: 20.85

ASVI almost hit our target on Monday. Shares traded to $23.42 near Monday's closing bell. Unfortunately, the stock experienced some heavy profit taking today with a 3.29% loss. There was a bounce from $22 and its 10 and 50-dma(s). We are not suggesting new plays at this time. Our target is the $23.50-24.00 range.

Picked on June 18 at $21.20
Change since picked: + 1.43
Earnings Date 07/27/06 (unconfirmed)
Average Daily Volume: 463 thousand

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Celgene Corp. - CELG - close: 47.21 chg: -0.25 stop: 43.99

Positive analyst comments and a new, higher price target on Monday was not enough to inspire more buying. Shares of CELG have spent the last two sessions consolidating sideways. At the moment we would not be surprised by a dip toward the 10-dma or the $45.00 region. Wait for a bounce before considering new bullish positions. The $50.00 level is probably the next level of resistance but we're going to aim for the $52.40-52.60 region. Readers should expect some give-and-take around the $50 mark. We're setting our initial stop loss at $43.99 but more conservative traders can probably get away with 44.49, which is under last Wednesday's low. The Point & Figure chart shows a triple-top breakout buy signal with a $57 target. We do not want to hold over the late July earnings report.

Picked on June 29 at $47.24
Change since picked: - 0.03
Earnings Date 07/27/06 (unconfirmed)
Average Daily Volume: 3.9 million

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Energy Transfer - ETP - close: 44.72 chg: -0.25 stop: 42.95

Crude oil traded to a new high above $75 a barrel on rising tensions with Iran and the missile tests from N. Korea. Yet the energy stocks failed to make much headway on the commodity's rise. We remain somewhat cautious here with ETP as the technical indicators are flat to bearish. Our target is the $47.50-48.00 range. Please note that we do not have a confirmed earnings date yet for ETP and they might announce as early as July 10th. We do not want to hold over the report.

Picked on June 18 at $44.25
Change since picked: + 0.47
Earnings Date 07/10/06 (unconfirmed)
Average Daily Volume: 149 thousand

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Kenexa - KNXA - close: 32.21 change: -1.00 stop: 29.85

KNXA experienced another big gain on Monday's shortened trading session. Unfortunately, the stock gave a lot of it back with today's 3% decline. Watch for a dip to the 50-dma (near 31.42) or the 10-dma (near 30.50) as another bullish entry point to go long. Our short-term target is the $34.90-35.00 range. FYI: The P&F chart is still bearish and points to a $23 target.

Picked on July 02 at $31.85
Change since picked: + 0.36
Earnings Date 08/07/06 (unconfirmed)
Average Daily Volume: 178 thousand

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Lam Research - LRCX - close: 46.02 chg: -1.24 stop: 44.95*new*

A downgrade for Intel (INTC) this morning did not help the semiconductor sector. Shares of LRCX also experienced new selling pressure this morning and closed with a 2.6% loss. This does not bode well and more conservative types might want to prepare an early exit. We're raising our stop loss to $44.95. We're not suggesting new plays at this time.

Picked on June 30 at $47.25
Change since picked: - 1.23
Earnings Date 07/19/06 (confirmed)
Average Daily Volume: 3.1 million

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Norfolk Southern - NSC - close: 53.73 chg: -0.02 stop: 49.35

NSC weathered the market weakness pretty well. Traders bought the dip this morning near its 50 and 100-dma and shares closed with a very minor loss. We remain bullish. Our target is the $57.35-57.50 range. We do not want to hold over the July earnings report.

Picked on June 29 at $52.57
Change since picked: + 1.16
Earnings Date 07/26/06 (unconfirmed)
Average Daily Volume: 2.2 million

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Starbucks - SBUX - close: 37.56 chg: -0.46 stop: 34.98

We remain bullish on SBUX with the stock above $37.00 but we're not suggesting new plays. Looking at the intraday charts it looks like the stock could see more consolidating tomorrow. Traders can try and buy a bounce near $37 and/or the rising 10-dma if they're feeling nimble. Our target is the $39.95-40.00 range.

Picked on June 29 at $37.05
Change since picked: + 0.51
Earnings Date 08/02/06 (unconfirmed)
Average Daily Volume: 6.0 million

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Verizon Comm. - VZ - close: 33.29 change: -0.26 stop: 32.45*new*

After the initial drop on the market weakness this morning VZ traded sideways in a narrow channel. We're not suggesting new long positions at this time. Please note that we are raising our stop loss to $32.45. Our target is the $34.75-35.00 range.

Picked on June 18 at $32.54
Change since picked: + 0.75
Earnings Date 07/25/06 (unconfirmed)
Average Daily Volume: 9.8 million

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Zoltek - ZOLT - close: 29.89 change: +1.27 stop: 27.49

There is no change from our new play description from this weekend. We remain on the sidelines. Our trigger to go long ZOLT is at $30.81. More conservative traders may want to wait for a move over $31.00 before initiating positions. Our target will be the $34.75-35.00 range.

Picked on June xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 08/09/06 (unconfirmed)
Average Daily Volume: 810 thousand
 

Short Play Updates

Juniper Networks - JNPR - cls: 15.91 chg: -0.27 stop: 16.71

Daily and weekly technicals, at least most of them, continue to look bearish. We're suggesting that readers wait for a decline under $15.75 (or even $15.50) before considering new shorts. Our target is unchanged in the $14.10-14.00 range. The P&F chart points to an $8.50 target.

Picked on June 19 at $15.89
Change since picked: + 0.02
Earnings Date 07/19/06 (unconfirmed)
Average Daily Volume: 13.8 million

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Medtronic - MDT - close: 47.05 change: +0.30 stop: 48.75*new*

MDT did hit a new relative low this morning but the bounce back was pretty strong. We're not suggesting new plays at this time. Instead we're lowering our stop loss to $48.75 and more conservative traders might want to adjust their stop toward $48.00 or consider just locking in some profits right here. MDT is oversold and we've been warning readers to expect a bounce for days now. In the news today MDT announced that it had received FDA approval for its InterStim II device for bladder problems. 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: - 2.44
Earnings Date 08/22/06 (unconfirmed)
Average Daily Volume: 10.8 million

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NitroMed - NTMD - close: 4.66 change: -0.08 stop: 5.07 *new*

NTMD has produced another failed rally under $5.00 and its descending 50-dma but we're not suggesting new plays at this time. Readers should note that we are lowering the stop loss to $5.07 (breakeven). Our target is the $4.10-4.00 range.

Picked on June 18 at $ 5.07
Change since picked: - 0.41
Earnings Date 07/31/06 (unconfirmed)
Average Daily Volume: 710 thousand
 

Closed Long Plays

Adobe Systems - ADBE - close: 29.86 chg: -0.78 stop: 29.69

We have been stopped out of ADBE at $29.69. The stock was very weak this morning as the market dropped after the open. The afternoon bounce in ADBE failed near the $30.00 level and the technical indicators are deteriorating. If ADBE trades under $29.50 or $29.00 traders might want to consider bearish plays.

Picked on June 29 at $30.40
Change since picked: - 0.54
Earnings Date 06/16/06 (confirmed)
Average Daily Volume: 7.1 million
 

Closed Short Plays

None
 

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