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Long Play Updates

Asta Funding - ASFI - close: 36.23 change: -0.11 stop: 34.95

We don't see any changes from yesterday's update. ASFI still looks weak and shares dipped to the $36.00 level late Thursday afternoon. Tomorrow's jobs report will probably determine direction. 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: + 0.22
Earnings Date 08/08/06 (unconfirmed)
Average Daily Volume: 165 thousand

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A.S.V.Inc. - ASVI - close: 22.78 change: +0.15 stop: 21.20*new*

ASVI spent Thursday churning sideways as traders wait for tomorrow's jobs report. Please note that we're adjusting the stop loss to $21.20. More conservative traders may want to put their stop under $22.00. 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: + 1.58
Earnings Date 07/27/06 (unconfirmed)
Average Daily Volume: 463 thousand

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Celgene Corp. - CELG - close: 47.30 chg: +0.09 stop: 43.99

CELG is yet another stock that traded sideways on Thursday as investors wait for the jobs report tomorrow. A move over $48.00 could be used as a new entry point or a bounce from the simple 10-dma (46.50). 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: + 0.06
Earnings Date 07/27/06 (unconfirmed)
Average Daily Volume: 3.9 million

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Energy Transfer - ETP - close: 44.99 chg: +0.27 stop: 43.25*new*

We do not see any changes from yesterday's update but we are going to raise our stop loss to 43.25, which is still under the simple 50-dma (43.35). 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: + 0.74
Earnings Date 07/10/06 (unconfirmed)
Average Daily Volume: 149 thousand

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Kenexa - KNXA - close: 32.00 change: -0.21 stop: 29.85

KNXA dipped toward its 50-dma and managed a minor bounce but essentially the stock traded sideways. The jobs report tomorrow will probably determine direction. More conservative traders might want to raise their stop toward today's low. 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: + 0.15
Earnings Date 08/07/06 (unconfirmed)
Average Daily Volume: 178 thousand

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Lam Research - LRCX - close: 45.60 chg: -0.42 stop: 44.95

Semiconductor stocks are still sinking. This does not bode well and more conservative types might want to prepare an early exit. We're not suggesting new plays at this time.

Picked on June 30 at $47.25
Change since picked: - 1.65
Earnings Date 07/19/06 (confirmed)
Average Daily Volume: 3.1 million

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Norfolk Southern - NSC - close: 52.26 chg: -1.47 stop: 49.35

We cannot find any news to explain it but all of the railroad stocks were hit with significant profit taking today. NSX lost 2.7% and closed under its 50 and 100-dma. A bounce back over the $52.50 or $52.75 levels could be used as a new entry point to go long. 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: - 0.31
Earnings Date 07/26/06 (unconfirmed)
Average Daily Volume: 2.2 million

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Starbucks - SBUX - close: 37.88 chg: +0.32 stop: 34.98

Watch out! Tomorrow could be rough for SBUX. After the closing bell the company reported June same-store sales figures. SBUX was forecasting a gain between + 3%-7%, while Wall Street was looking for a gain between +6% and +8%. The company reported +6% and the stock sold off after hours (trading around $36.55). That's bad news because the $37.00 level should be acting as support. Of course market reaction to the jobs report tomorrow morning could help alleviate or exacerbate the reaction. We're not suggesting new plays at this time and more conservative traders may want to adjust their stops toward $36.00.

Picked on June 29 at $37.05
Change since picked: + 0.83
Earnings Date 08/02/06 (unconfirmed)
Average Daily Volume: 6.0 million

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Verizon Comm. - VZ - close: 33.02 change: +0.13 stop: 32.45

Something is not right with VZ. All of the data sources we checked show VZ closing at $33.02 up 13.5 cents. Yet if you look at the historical prices for VZ the stock closed at $33.29 yesterday. That should be a loss of 27 cents. Looking at the intraday chart we see a dip to and bounce from the $32.50 region. Normally we'd suggest longs on the bounce but we're not going to suggest any new plays here. Our target is the $34.75-35.00 range.

Picked on June 18 at $32.54
Change since picked: + 0.48
Earnings Date 07/25/06 (unconfirmed)
Average Daily Volume: 9.8 million

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Zoltek - ZOLT - close: 29.28 change: -0.54 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: 16.01 chg: +0.10 stop: 16.26*new*

There is no change from our previous updates on JNPR. The stock has been trading sideways the last few days and the market's reaction to the jobs report tomorrow could set a new direction for JNPR. We are going to lower our stop loss to $16.26. More aggressive traders may want to leave their stop north of the 50-dma (16.58). 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: + 0.12
Earnings Date 07/19/06 (unconfirmed)
Average Daily Volume: 13.8 million

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Medtronic - MDT - close: 47.43 change: +0.38 stop: 48.75

There are no surprises here. We've been warning that MDT was ready to bounce for days. More conservative traders might want to do some profit taking. 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: - 2.06
Earnings Date 08/22/06 (unconfirmed)
Average Daily Volume: 10.8 million

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NitroMed - NTMD - close: 4.68 change: +0.02 stop: 5.07

NTMD is yet another stock that traded sideways ahead of tomorrow's jobs report. We're not suggesting new plays at this time. Our target is the $4.10-4.00 range.

Picked on June 18 at $ 5.07
Change since picked: - 0.39
Earnings Date 07/31/06 (unconfirmed)
Average Daily Volume: 710 thousand
 

Closed Long Plays

None
 

Closed Short Plays

None
 

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