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Long Play Updates

ACADIA - ACAD - close: 9.51 chg: +0.24 stop: 8.49 *new*

The rally in ACAD continues. Shares rose another 2.58% and managed to breakout over its exponential 200-dma at $9.46. There should be nothing stopping ACAD from making a run toward our target in the $9.95-10.00 range. We're going to inch up our stop loss to $8.49. FYI: The P&F chart remains bearish and looks like it will be for a while.

Picked on October 05 at $ 8.85
Change since picked: + 0.66
Earnings Date 11/10/06 (unconfirmed)
Average Daily Volume: 225 thousand

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TD Ameritrade - AMTD - close: 19.10 change: -0.03 stop: 18.23

AMTD spent a second session consolidating sideways between $19.00 and $19.50. The lack of upward movement is pulling the momentum indicators toward bearish signals but so far AMTD is holding above its 200-dma. More conservative traders may want to tighten their stops (suggestion $18.45-18.49). Our target is the $21.00 mark. We do expect some resistance near $20.00, at least on the initial test. We don't want to hold over the October 24th earnings report. FYI: The P&F chart is bullish with a $29 target.

Picked on October 04 at $19.26
Change since picked: - 0.16
Earnings Date 10/24/06 (confirmed)
Average Daily Volume: 5.3 million

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Anheuser-Busch - BUD - close: 47.98 change: +0.99 stop: 46.85

Be careful here. We may be the victim of a false start. BUD was initially weak this morning but shares rebounded very quickly from the $46.40 level and spiked above resistance in the $48.00-48.20 range. The high today was $48.79. The rally was fueled by rumors that BUD was a takeover/buyout target. Unfortunately, the strength in BUD faded from its highs and left the stock back in its previous trading range and under resistance at the $48 level. Our trigger to go long the stock was at $48.21 so the play is now open and our target is the $49.90-51.00 range. We are not suggesting new positions with BUD under $48.20.

Picked on October 10 at $48.21
Change since picked: - 0.23
Earnings Date 10/25/06 (unconfirmed)
Average Daily Volume: 2.6 million

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IAC/InterActive - IACI - close: 29.05 change: -0.40 stop: 28.69

We have been warning readers to prepare for a pull back toward the $29.00 level, which we suspected would act as support. However, the lack of a bounce today from the $29.00 level is a warning sign! Volume came in a little bit above average and that might suggest there is more downside to come. We'd wait for a bounce back over $29.25 or $29.50 before considering new long positions. More conservative traders might want to tighten their stop loss. Our target is the $31.40-31.50 range. We do not want to hold over the late October earnings report.

Picked on October 04 at $29.73
Change since picked: - 0.68
Earnings Date 10/31/06 (unconfirmed)
Average Daily Volume: 2.2 million

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Intl. Game Tech. - IGT - close: 42.83 chg: +0.08 stop: 39.95

IGT is still creeping higher. The stock bounced from a dip near $42.00 this afternoon and the stock looks poised to move higher. Our target is the $44.00-45.00 range. We do not want to hold over the early November earnings report.

Picked on September 17 at $40.26
Change since picked: + 2.57
Earnings Date 11/02/06 (unconfirmed)
Average Daily Volume: 2.2 million

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Ingersoll-Rand - IR - close: 40.46 chg: +0.23 stop: 37.99

Volume on IR's rally has faded over the last couple of days but the trend is still up. Today the company announced it was buying Geith International for an undisclosed sum. We remain bullish and readers can choose to go long the stock now or look for a dip back towards the $39.50 region. We do not want to hold over the October 27th earnings report so our short-term target is the $43.00-43.50 range. We'll raise our stop loss once we see IR push past potential overhead resistance at its 200-dma near 40.75.

Picked on October 08 at $40.20
Change since picked: + 0.26
Earnings Date 10/27/06 (confirmed)
Average Daily Volume: 2.8 million

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Kinetic Concepts - KCI - cls: 33.45 chg: +0.57 stop: 30.99

KCI continued to rally and closed with a 1.7% gain but we noted that volume came in very low today. The only news potentially moving the stock was an announcement that KCI's CEO plans to retire once the Board of Directors finds a replacement. Our target is the $37.50-38.00 range. Be advised that the $35.00 mark might offer some resistance as well at least on the initial test of that level. We do not want to hold over the late October earnings report.

Picked on October 08 at $33.35
Change since picked: + 0.10
Earnings Date 10/30/06 (unconfirmed)
Average Daily Volume: 1.4 million

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Acc. Home Lenders - LEND - cls: 36.49 chg: -0.39 stop: 34.95

LEND is still consolidating sideways under resistance near $37.00. The only good news today was that traders bought the dip near LEND's 50-dma this afternoon. More aggressive traders may want to open positions right here. We want to see the breakout over resistance first. That's why we're suggesting a trigger to go long at $37.16. If triggered our target is the $42.00-42.50 range. Please note that there is potential resistance at the bottom of its gap down at $38.71, and potential resistance at $40.00. The P&F chart is positive with a $50 target. We do not want to hold over the late October earnings report.

Picked on October xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 10/31/06 (unconfirmed)
Average Daily Volume: 759 thousand

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McAfee - MFE - close: 25.79 chg: +0.25 stop: 23.99

MFE continued to creep higher. The stock added almost 1% although volume came in below average on the move. We note that the GSO software index was the only technology sector index to close in the green today. We remain bullish. Our target is the $27.25-27.50 range. We do not want to hold over the late October earnings report.

Picked on October 05 at $25.20
Change since picked: + 0.59
Earnings Date 10/26/06 (unconfirmed)
Average Daily Volume: 1.9 million

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PDL BioPharma - PDLI - close: 20.33 chg: -0.12 stop: 18.69

Biotech stocks traded flat to down on Tuesday and PDLI was no exception. Shares have shown a lot of strength recently so a pause is only natural. Readers can watch for a bounce from the $20 level as a new entry point to go long. More conservative traders might want to consider tightening their stop loss. Our target is the $22.25-22.50 range. We do not want to hold over the early November earnings report.

Picked on October 05 at $20.11
Change since picked: + 0.22
Earnings Date 11/02/06 (unconfirmed)
Average Daily Volume: 1.3 million
 

Short Play Updates

None
 

Closed Long Plays

Swift Transport. - SWFT - cls: 27.19 chg: +1.53 stop: 23.88

Target exceeded. Late last night SWFT upped its earnings guidance for the third quarter. The market reacted strongly. Shares of SWFT gapped open higher at $27.16 and a rally to $28.50 very early this morning. Our target was the $26.75-27.00 range so we would have closed the play at the open. We would suggest caution if you did not exit since the rally faded right back to where the stock opened this morning. The big pull back from its intraday high tends to be bearish.

Picked on October 03 at $23.88
Change since picked: + 3.31
Earnings Date 10/25/06 (confirmed)
Average Daily Volume: 1.4 million
 

Closed Short Plays

None
 

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