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Long Play Updates

St. Jude Medical - STJ - close: 35.80 change: -0.58 stop: 32.99

STJ experienced some profit taking this morning. Yet after the initial pull back shares spent the rest of the session churning sideways in a 50-cent range. We don't see any changes from our previous updates. The next hurdle is potential resistance at its simple 100-dma near $37. Our target is the $39.00-40.00 range. Our time frame is about four to six weeks.

Picked on July 25 at $35.94
Change since picked: - 0.14
Earnings Date 07/19/06 (confirmed)
Average Daily Volume: 3.8 million
 

Short Play Updates

Phazar Corp. - ANTP - close: 9.11 change: +0.39 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 (we're guessing between 8/04-8/11).

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: 37.63 change: +0.32 stop: 36.76

We do not see any changes from our previous updates on CAE. 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: 13.32 chg: -0.09 stop: 14.61

Disappointing earnings guidance from TLAB undermined the whole networking sector. TLAB lost almost 16% while JNPR fell another 0.67% and to a new relative low. Our target for JNPR 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: - 0.44
Earnings Date 07/19/06 (confirmed)
Average Daily Volume: 13.1 million

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Maxim Integrated - MXIM - close: 28.77 chg: +0.39 stop: 30.01

We are still seeing a lot of mixed signals with MXIM. Unfortunately, the stock showed some relative strength today with a 1.3% gain on better than average volume. 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: - 0.98
Earnings Date 08/04/06 (confirmed)
Average Daily Volume: 5.5 million

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Meridian Biosci. - VIVO - cls: 20.40 chg: -0.34 stop: 22.55*new*

VIVO is breaking down from its short-term sideways consolidation. The selling did stall at the $20.00 mark, which is normally round-number resistance. We would not be surprised to see a bounce tomorrow but the overall trend remains negative. The 10-dma overhead, currently near 21.90, should be overhead resistance. We're lowering our stop loss to $22.55. 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: - 0.54
Earnings Date 07/20/06 (confirmed)
Average Daily Volume: 175 thousand

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Watson Wyatt Wld - WW - close: 32.43 chg: -0.44 stop: 34.01

We do not see any changes from our previous updates on WW. The stock continues to look bearish. More conservative traders might want to tighten their stops. 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: - 0.76
Earnings Date 08/10/06 (confirmed)
Average Daily Volume: 216 thousand
 

Closed Long Plays

Carnival Corp. - CCL - close: 39.62 chg: -0.39 stop: 39.75

We have been stopped out of CCL at $39.75. Shoving the stock under the $40.00 level this morning was news of a downgrade. Volume came in above average on the decline.

Picked on July 25 at $40.76
Change since picked: - 0.75
Earnings Date 09/15/06 (unconfirmed)
Average Daily Volume: 4.3 million
 

Closed Short Plays

None
 

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