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In Play Updates and Reviews

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Long Play Updates

Brookfield Asset Mgt. - BAM - cls: 44.57 chg: -0.67 stop: 42.95

We told readers to expect a dip toward $44 and BAM came close to delivering. Shares slipped to an intraday low of $44.33. We're not suggesting new plays at this time. Our target is the $49.00-50.00 range.

Picked on August 22 at $44.82
Change since picked: - 0.25
Earnings Date 08/03/06 (confirmed)
Average Daily Volume: 393 thousand

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eBay Inc. - EBAY - close: 27.53 chg: -0.68 stop: 25.95

Internet stocks took another beating on Thursday. The INX Internet index was one of the worst performing sectors. Shares of EBAY under performed its peers with a 2.4% loss. The technical picture is decaying so we're not suggesting new bullish positions at this time. Right now we're expecting a dip to $27.00 and possibly the $26.50 level. If you don't want to weather that kind of pull back consider exiting early. Our target is the $29.25-29.50 range.

Picked on August 24 at $26.25
Change since picked: + 1.28
Earnings Date 10/18/06 (unconfirmed)
Average Daily Volume: 19.6 million

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Elk Corp. - ELK - close: 27.84 change: -0.03 stop: 25.80

ELK produced a relatively volatile session. We could not find any specific reason but shares gapped lower at the opening bell. Then ELK rallied back into the green before fading again. Overall the session has a bearish feel to it. More conservative traders may want to tighten their stop loss! We're not suggesting new plays.

Picked on August 22 at $27.10
Change since picked: + 0.74
Earnings Date 08/17/06 (confirmed)
Average Daily Volume: 245 thousand

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Mittal Steel - MT - close: 33.50 chg: -0.41 stop: 32.49

There is no change from our previous updates on MT. We are still sitting out on the sidelines waiting for a breakout over resistance near $35.00. Our suggested trigger to go long the stock is at $35.26. If triggered our target is the $39.50-40.00 range. We do not want to hold over the early November earnings report. FYI: The Point & Figure chart is bullish with a $47 target.

Picked on September xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 11/01/06 (unconfirmed)
Average Daily Volume: 3.2 million

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Maxim Integrated - MXIM - close: 29.20 chg: -0.16 stop: 27.95

There is no change from our previous updates on MXIM. The stock tried to rally but failed at the $30.00 level again. Our suggested trigger to go long the stock is at $30.15. Our target is the $33.00-34.00 range.

Picked on August xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 11/03/06 (unconfirmed)
Average Daily Volume: 6.0 million

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Knight Cap. Grp - NITE - cls: 17.05 chg: -0.52 stop: 15.95

Shares of NITE continue to see strong profit taking. The stock lost almost 3% and broke down under its 10-dma. We are not suggesting new positions at this time. The only reason we're not suggesting an early exit is that NITE still has a two-month trendline of support near $16.00. Our target is the $19.85-20.00 range. Currently the P&F chart points to a $25 target.

Picked on August 22 at $17.36
Change since picked: - 0.31
Earnings Date 07/18/06 (confirmed)
Average Daily Volume: 1.5 million

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Steel Dynamics - STLD - close: 53.83 change: -0.67 stop: 49.99

Bingo! We suggested that readers wait and watch for a bounce near $52.50 and STLD delivered. The dip and bounce was another entry point to go long the stock. More conservative traders may want to tighten their stops toward $52. Our target is the $59.00-60.00 range. We do not want to hold over the October earnings report.

Picked on September 03 at $54.48
Change since picked: - 0.65
Earnings Date 10/19/06 (unconfirmed)
Average Daily Volume: 1.5 million
 

Short Play Updates

Black Box - BBOX - close: 36.92 change: -0.52 stop: 40.06

BBOX continues to sink hitting new relative lows. Shares lost 1.38% today but volume came in relatively low. We're not suggesting new positions at this time. Our target is the $35.25-35.00 range.

Picked on August 27 at $38.25
Change since picked: - 1.33
Earnings Date 10/31/06 (unconfirmed)
Average Daily Volume: 243 thousand

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BCE Inc. - BCE - close: 24.63 change: +0.05 stop: 25.26

The bulls and bears seem to be fighting for every inch in shares of BCE. The stock dipped to $24.32 before bouncing back into the green. Volume on the session was very strong. The move looks like a short-term bullish reversal. We would expect the bounce to continue and hit its 10-dma near $24.90 soon. Remember, we're trying to play the trading range in BCE. Our target is not the far edge of its trading range (22.25) but what looks like intermediate support at $23.25. We'll actually use a target range of $23.35-23.25.

Picked on September 03 at $24.73
Change since picked: - 0.10
Earnings Date 11/01/06 (unconfirmed)
Average Daily Volume: 225 thousand

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Brookefield Homes- BHS - close: 23.35 chg: +0.65 stop: 24.05*new*

Believe it or not but the homebuilders managed to rally in spite of not one but two builders issuing an earnings warning today. Shares of BHS bounced back into its $23-24 trading range with a 2.8% gain. We are not suggesting new plays and we're adjusting the stop loss to $24.05. Please note that the latest (August) data puts short interest at 27.8% (up from 20% in July) of BHS' 26.2 million-share float. That is a high degree of short interest and increases the risk of a short-squeeze!

Picked on August 25 at $22.99
Change since picked: + 0.36
Earnings Date 07/20/06 (confirmed)
Average Daily Volume: 497 thousand

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Hormel Foods - HRL - close: 36.04 chg: -0.11 stop: 37.05 *new*

HRL is slowing sinking lower. We noticed that volume is slowly sinking lower as well. We would prefer to see strong volume on the sell-off. Today's session was rather ho-hum and shares seem to be trying to find support at its rising 100-dma. We are lowering our stop loss to $37.05. Our target is the $35.00-34.50 range.

Picked on August 31 at $36.65
Change since picked: - 0.61
Earnings Date 11/23/06 (unconfirmed)
Average Daily Volume: 331 thousand

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Portfol.Recov.Assoc. - PRAA - cls: 39.18 chg: -0.06 stop: 41.65

We do not see any changes from our previous updates on PRAA. The drop under $40 looks like a new entry point. More conservative traders might want to adjust their stop toward $41. Currently our target is the $36.00 level.

Picked on August 24 at $39.49
Change since picked: - 0.31
Earnings Date 08/02/06 (confirmed)
Average Daily Volume: 166 thousand
 

Closed Long Plays

Stereotaxis - STXS - cls: 10.55 change: +0.01 stop: 10.29

We have been stopped out of STXS at $10.29. Last night we raised our stop loss to $10.29 and this morning the stock spikes lower, right at the open, to $10.28 and then quickly recovers. What frustrates us the most is that STXS came pretty close to hitting our target on August 23rd's high at $11.71. Our target was $11.85.

Picked on August 21 at $10.31
Change since picked: + 0.24
Earnings Date 08/09/06 (confirmed)
Average Daily Volume: 272 thousand
 

Closed Short Plays

None
 

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