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In Play Updates and Reviews

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Long Play Updates

E*Trade - ET - close: 23.42 change: -0.16 stop: 21.90

There is no change from our weekend update on ET. The stock traded in a 38-cent range on Monday as investors waited for Tuesday's FOMC meeting. We're not suggesting new bullish positions in ET at this time although we may change our minds if ET can breakout past $24.00 and its simple 100-dma. Our target is the $25.90-26.00 range.

Picked on August 04 at $23.61 *gap higher*
Change since picked: - 0.19
Earnings Date 07/19/06 (confirmed)
Average Daily Volume: 5.3 million


Highland Hospitality - HIH - cls: 13.74 chg: -0.15 stop: 13.25

As expected HIH delivered a dip on Monday. We don't see any changes from our weekend update on the stock. Our market bias is growing bearish but a move over $13.80 or $13.85 might be used as a bullish entry point in HIH. Our target is the $14.90-15.00 range.

Picked on August 04 at $13.85
Change since picked: - 0.11
Earnings Date 07/27/06 (confirmed)
Average Daily Volume: 388 thousand

Short Play Updates

Juniper Networks - JNPR - cls: 13.00 chg: -0.13 stop: 14.01

JNPR lost another 1% today and we don't see any changes from our weekend update. Don't be surprised if JNPR produces some volatility following the FOMC meeting tomorrow afternoon. We're not suggesting new shorts at this time. 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: - 0.75
Earnings Date 07/19/06 (confirmed)
Average Daily Volume: 13.1 million


UAL Corp. - UAUA - close: 24.95 chg: +0.34 stop: 27.01

Most of the airline stocks were negative on Monday since fuel is such a huge expense for the industry and crude oil surged to 3% near $77 a barrel. Yet UAUA bucked the trend and added 1.3% after a positive review in Barron's over the weekend. We would watch for a bounce towards the $26.00 level, which as broken support should act as near-term overhead resistance. Our target is the $22.00-20.00 range.

Picked on August 01 at $25.70
Change since picked: - 0.75
Earnings Date 07/31/06 (confirmed)
Average Daily Volume: 1.8 million


Meridian Biosci. - VIVO - cls: 20.30 chg: -0.20 stop: 22.05

We do not see any changes from our weekend update on VIVO. The stock is holding above support near $20.00 as investors wait for the FOMC meeting tomorrow. Look for a decline under $20.00 or last week's low at $19.78 before considering new bearish short positions. Our target is the $18.15-18.00 range since the $18.00 level was support last year. FYI: the P&F chart shows a triple-bottom breakdown sell signal with a $16 target.

Picked on July 23 at $20.94
Change since picked: - 0.64
Earnings Date 07/20/06 (confirmed)
Average Daily Volume: 175 thousand


Watson Wyatt Wld - WW - close: 32.46 chg: +0.04 stop: 33.51

There are no changes from our weekend update on WW. The stock looks like it wants to bounce and it could rally toward the $33.50 region before hitting the top of its descending channel. We're not suggesting new plays and more conservative traders may want to tighten their stops toward $33.00. Our target is the $31.50-31.00 range. Please note that we plan to exit on Wednesday, August 9th at the closing bell to avoid holding over the company's earnings report due out August 10th.

Picked on July 16 at $33.19
Change since picked: - 0.73
Earnings Date 08/10/06 (confirmed)
Average Daily Volume: 216 thousand

Closed Long Plays


Closed Short Plays

NCI Bldg - NCS - close: 50.34 chg: +0.44 stop: 50.15

We have been stopped out of NCS at $50.15. Shares dipped to $49.00 before traders bought the dip and pushed the stock back through round-number resistance at the $50.00 mark. Volume on today's gain was above average. This is a breakout over its five-week trendline of resistance but NCS still has technical resistance at its 50-dma and 200-dma overhead.

Picked on July 27 at $47.65
Change since picked: + 2.69
Earnings Date 08/31/06 (unconfirmed)
Average Daily Volume: 383 thousand

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