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Long Play Updates

None
 

Short Play Updates

Smith A O Corp. - AOS - close: 39.94 chg: -0.75 stop: 42.26

AOS did see further weakness this morning but it was an illusion. The stock traded sideways in a 79-cent range all session. The overall pattern remains bearish but we're not suggesting new shorts with AOS above $40.00. More conservative types may want to wait for a decline under today's low of $39.50. Our trigger to open shorts was at $39.75 so the play is now open. Our target is the $35.50-35.00 range.

Picked on August 10 at $39.75
Change since picked: + 0.26
Earnings Date 10/18/06 (unconfirmed)
Average Daily Volume: 288 thousand

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Dell Inc. - DELL - close: 20.99 chg: -0.15 stop: 22.55

DELL lost another 0.7% on Thursday and the close under $21.00 is bearish but for the most part shares churned sideways in a narrow range following the morning weakness. We don't see any changes from our new play description from Wednesday. We're suggesting shorts with DELL under $22.00. Our target is the $19.25.00-19.00 range. We do not want to hold over the company's earnings report. FYI: The Point & Figure chart points to a $16 target.

Picked on August 09 at $21.14
Change since picked: - 0.15
Earnings Date 08/17/06 (unconfirmed)
Average Daily Volume: 25.1 million

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Eagle Materials - EXP - close: 35.39 chg: -0.14 stop: 39.26

EXP managed to hit another new low for the year this morning but shares pared their losses and managed to bounce back toward the $36 level. We remain bearish but readers should be ready for a potential oversold bounce toward the 10-dma or the 21-dma near 37.60. Our target is the $31.00-30.00 range.

Picked on August 08 at $36.18
Change since picked: - 0.79
Earnings Date 07/24/06 (confirmed)
Average Daily Volume: 1.7 million

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FMC Corp. - FMC - close: 58.06 chg: +0.53 stop: 60.78

Bears might need to play it cautious here. FMC posted a 0.9% gain and volume came in pretty strong, which is not a good sign. Overall the pattern remains bearish but the stock might rebound and retest overhead resistance near its 10-dma and 200-dma before moving lower again. Our target is the $52.00-51.75 range since the $51.75 area was support last winter.

Picked on August 08 at $57.20
Change since picked: + 0.86
Earnings Date 10/31/06 (unconfirmed)
Average Daily Volume: 298 thousand

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Juniper Networks - JNPR - cls: 12.90 chg: -0.51 stop: 14.01

JNPR displayed some relative weakness today with a 3.8% loss on above average volume. We remain bearish but we're not suggesting new positions at this time. Our target remains the $12.00-10.00 range.

Picked on July 21 at $13.75
Change since picked: - 0.85
Earnings Date 07/19/06 (confirmed)
Average Daily Volume: 13.1 million

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Lamar Adver. - LAMR - close: 47.94 chg: -0.47 stop: 50.05

Our new bearish play in LAMR is open. The stock broke down under support at the $48.00 level and hit our trigger at $47.90. At this time we don't see any changes from our new play description from Wednesday. Our target is the $45.15-45.00 range.

Picked on August 10 at $47.90
Change since picked: + 0.04
Earnings Date 08/08/06 (confirmed)
Average Daily Volume: 862 thousand

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Steel Dynamics - STLD - close: 53.33 chg: -0.46 stop: 56.51

STLD continues to sink as shares hit another new six-week low on Thursday. Studying the intraday chart you'll notice that the afternoon rebound stalled under the $54.00 level, which as broken support should act as new resistance. Our target is the $50.00-49.00 range.

Picked on August 09 at $53.95
Change since picked: - 0.62
Earnings Date 10/19/06 (unconfirmed)
Average Daily Volume: 1.6 million

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Meridian Biosci. - VIVO - cls: 19.64 chg: -0.23 stop: 22.05

The sell-off in VIVO continues. Yesterday the stock closed under support at $20.00 and now shares are hitting new eight-month lows. Volume on today's session was pretty high. 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: - 1.28
Earnings Date 07/20/06 (confirmed)
Average Daily Volume: 175 thousand
 

Closed Long Plays

None
 

Closed Short Plays

UAL Corp. - UAUA - close: 23.52 chg: -0.31 stop: 26.55

Target achieved. Airlines stocks were initially weak on the news that U.K. officials had arrested 21 people in a massive terrorist plot to blow up planes headed for the U.S. Yet the XAL airline index managed to rebound back into the green. Shares of UAUA gapped open lower to open at $22.00 and dip to $21.90 before rebounding. Our target was the $22.00-20.00 range.

Picked on August 01 at $25.70
Change since picked: - 2.18
Earnings Date 07/31/06 (confirmed)
Average Daily Volume: 1.8 million
 

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