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Long Play Updates

None
 

Short Play Updates

Phazar Corp. - ANTP - close: 8.76 change: -0.10 stop: 9.27

There is no change from our previous updates on ANTP. We remain on the sidelines. Our trigger to short the stock is at $8.49. If triggered our target will be the $7.00-6.75 range. We want to remind readers that this is an aggressive play. ANTP can be volatile and the most recent data puts short interest at over 10% of the 2.1 million-share float. That's a relatively high degree of shorts and a very, very small float. To make this play even higher risk we cannot find the company's next earnings report. Last year they reported in August so it stands to reason that they might report again in early August.

Picked on July xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 08/04/06 (unconfirmed)
Average Daily Volume: 89 thousand

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Cascade - CAE - close: 37.90 change: +0.86 stop: 36.76

CAE continued to bounce on Tuesday, like most of the market, but the stock's strength did stall under its 50-dma. We are going to keep CAE on the play list for now but if shares close over $38.50 we're dropping it as a bearish candidate. Our plan is to use a trigger at $34.90 to catch any breakdown under support in the $35 region. If triggered our target is the $31.50-31.00 range. The Point & Figure chart is more bearish with a $22.00 target. We do not want to hold over its earnings report in September.

Picked on July xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 09/07/06 (unconfirmed)
Average Daily Volume: 87 thousand

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Juniper Networks - JNPR - cls: 13.70 change: -0.07 stop: 15.01

JNPR is still showing relative weakness. The stock failed to participate in the market's rally today but it's worth noting that JNPR did rebound off its lows of the session. Considering the market's bullish turnaround in the last couple of sessions we're not suggesting new bearish plays in JNPR. More conservative traders may want to tighten their stops. Our target is the $12.00-10.00 range. Conservative traders can exit near $12 with us and more aggressive traders can aim lower. The P&F chart is still very bearish with an $8.50 target.

Picked on July 21 at $13.75
Change since picked: - 0.05
Earnings Date 07/19/06 (confirmed)
Average Daily Volume: 13.1 million

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MTS Systems - MTSC - close: 34.44 change: -0.02 stop: 35.09*new*

Volume continues to come in light for MTSC. The stock tried to rally this morning but it failed at $35.09. We are concerned that if the markets continue to rebound then MTSC will follow and we'll be stopped out. Thus we're not suggesting new bearish positions at this time. Currently it is our plan to exit on Wednesday afternoon near the close to avoid holding over the company's earnings report. Please note we're adjusting our stop loss to $35.09.

Picked on July 17 at $34.19
Change since picked: - 1.17
Earnings Date 07/26/06 (confirmed)
Average Daily Volume: 105 thousand

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Maxim Integrated - MXIM - close: 28.62 chg: +0.52 stop: 30.01

The semiconductor stocks continue to bounce and MXIM out performed its peers with a 1.8% gain today. The technical picture is still mixed but chart readers will notice that the daily chart's MACD is nearing a new buy signal. We are not suggesting new plays at this time. More conservative traders may want to exit early or tighten their stops toward $29.50 or even the $29 region. The longer-term trend in the SOX and in MXIM remains bearish.

Picked on July 09 at $29.75
Change since picked: - 1.13
Earnings Date 08/04/06 (confirmed)
Average Daily Volume: 5.5 million

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Teva Pharma. - TEVA - close: 30.85 change: +0.36 stop: 31.65

We are still in danger mode with TEVA. The stock's initial rally this morning failed at $31.31 but shares had a bullish pattern of higher lows all day long. More conservative traders may want to strongly consider cutting their losses now with an early exit. We are not suggesting new bearish plays.

Picked on July 21 at $29.79
Change since picked: + 1.06
Earnings Date 08/01/06 (unconfirmed)
Average Daily Volume: 7.4 million

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Meridian Biosci. - VIVO - close: 21.01 chg: -0.11 stop: 23.05

VIVO displayed relative weakness today by failing to participate in the market's rally. Volume came in above average yet shares churned sideways in a narrow range. This weakness is good news for the bears but with the markets showing strength we hesitate to suggest new positions here. Our target is the $18.15-18.00 range since the $18.00 level was support last year.

Picked on July 23 at $20.94
Change since picked: + 0.07
Earnings Date 07/20/06 (confirmed)
Average Daily Volume: 175 thousand

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Watson Wyatt Wld - WW - close: 33.10 chg: +0.20 stop: 34.01

WW is still bouncing but the stock remains in its bearish pattern of lower highs and lower lows. We're not suggesting new plays at the moment. Our target is the $31.10-31.00 range. We do not want to hold over the early August earnings report. FYI: the most recent data put short interest at 6.9% of WW's 41 million-share float.

Picked on July 16 at $33.19
Change since picked: - 0.09
Earnings Date 08/10/06 (confirmed)
Average Daily Volume: 216 thousand

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XM Sat.Radio - XMSR - close: 10.88 change: -0.32 stop: 13.01*new*

XMSR continues to look very weak and the stock lost another 2.8% today on above average volume. The stock is now down more than 10% from our picked price. Traders might want to lock in some profits here. We're not suggesting new positions. The stock is looking oversold and is quickly approaching our target in the $10.50-10.00 range. We are dropping the stop loss to $13.01.

Picked on July 14 at $12.95
Change since picked: - 2.07
Earnings Date 07/27/06 (confirmed)
Average Daily Volume: 7.7 million
 

Closed Long Plays

None
 

Closed Short Plays

Coach Inc. - COH - close: 27.93 change: +0.70 stop: 28.01

We've been stopped out of COH at $28.01. Retail stocks continued to bounce today and shares of COH traded above the $28 level on an intraday basis. The stock's 2.5% gain on Tuesday helped the MACD produce a new buy signal. We would hesitate to consider bullish positions until COH managed to breakout past its descending 50-dma.

Picked on July 16 at $26.43
Change since picked: + 1.50
Earnings Date 08/01/06 (confirmed)
Average Daily Volume: 4.1 million
 

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