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Long Play Updates

Apria Healthcare - AHG - cls: 33.39 chg: -0.07 stop: 30.95

AHG is still consolidating sideways in the $33-34 range. We remain bullish. Our target is the $35.75-36.00 range. We do not want to hold over the May 1st earnings report.

Picked on March 27 at $32.37
Change since picked: + 1.02
Earnings Date 05/01/07 (confirmed)
Average Daily Volume: 910 thousand

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Arrow Elctr. - ARW - cls: 39.98 chg: -0.18 stop: 37.74

Tuesday failed to produce any significant follow through on Monday's bullish breakout. A lackluster market didn't help. The overall pattern is bullish but short-term we wouldn't be surprised to see a dip back towards $39.00. We would watch for a bounce near $40 or above the 10-dma as a new entry point. Our target is the $43.75-45.00 range. We don't have much time and plan to exit ahead of the April 24th earnings report. FYI: More aggressive traders may want to use a wider stop loss under the 50-dma.

Picked on April 09 at $40.15
Change since picked: - 0.17
Earnings Date 04/24/07 (confirmed)
Average Daily Volume: 896 thousand

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Brookfield Asset Mgmt - BAM - cls: 55.23 chg: -0.31 stop: 52.35

BAM struggled to make it past the $56.00 level and shares drifted lower the rest of the day. Short-term the move today looks bearish. Watch for a dip to (or a bounce near) $54.00 as a new bullish entry point to buy the stock. Our target is the $58.75-59.00 range. We do not want to hold over the early May earnings.

Picked on April 08 at $54.76
Change since picked: + 0.47
Earnings Date 05/02/07 (confirmed)
Average Daily Volume: 675 thousand

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Bristow Group - BRS - close: 36.78 chg: +0.36 stop: 34.99

Entry point alert on BRS. The stock has broken out past its short-term trend of lower highs and is now challenging the 50-dma. Traders bought the dip midday near $36.50. We see today's action as a new entry point to buy the stock. Our target is the February highs in the $38.40-38.50 range. FYI: The P&F chart is bullish and points to a $47 target.

Picked on March 11 at $35.88
Change since picked: + 0.90
Earnings Date 05/07/07 (unconfirmed)
Average Daily Volume: 243 thousand

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Canadan Nat.Res. - CNQ - cls: 56.77 chg: +0.28 stop: 53.05

We don't see any changes from our previous comments on CNQ. The trend is bullish but momentum is stalling and volume is evaporating along with momentum. More conservative traders may want to strongly consider exiting early right here for a gain. We're not suggesting new positions. Our target remains the $58.00-60.00 range. FYI: The P&F chart is bullish and its target has risen from $71 to $74.

Picked on March 21 at $53.05
Change since picked: + 3.72
Earnings Date 03/07/07 (confirmed)
Average Daily Volume: 2.0 million

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eBay Inc. - EBAY - close: 33.99 chg: +0.25 stop: 30.49

Believe it or not, EBAY looks poised to breakout higher. After five days of consolidating near resistance at the $34.00 level shares look ready to breakout. Aggressive traders might want to buy the stock on a rise past $34.35 (new relative high). However, keep in mind that we could not hold over the April 18th earnings report. Our aggressive target in the $37-38 zone might be too optimistic given our time frame.

Picked on March 05 at $30.49
Change since picked: + 3.50
Earnings Date 04/18/07 (confirmed)
Average Daily Volume: 18 million

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Helmerich Payne - HP - cls: 31.33 chg: +0.30 stop: 28.99

A rebound in crude oil and some positive analyst comments on the oil sector helped HP produce a 0.9% gain. The stock looks ready to make a run at the $32 level soon. Our target is the $32.50 mark. More aggressive traders may want to aim higher, especially since the P&F chart points to a $48 target.

Picked on March 19 at $28.77 *gap higher*
Change since picked: + 2.43
Earnings Date 04/26/07 (unconfirmed)
Average Daily Volume: 1.4 million

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James River Coal - JRCC - cls: 8.68 chg: -0.39 stop: 7.89

The M&A excitement in coal stocks deflated a little bit on Tuesday. JRCC lost 4.29% after yesterday's 11.2% gain. Yet this might be a new entry point as JRCC was bouncing from the $8.50 level this afternoon. It remains an aggressive (speculative) play. Our target is the $9.90-10.00 range. We do not want to hold over the early May earnings report.

Picked on April 08 at $ 8.15
Change since picked: + 0.53
Earnings Date 05/01/07 (unconfirmed)
Average Daily Volume: 647 thousand

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KLA-Tencor - KLAC - cls: 56.37 chg: +0.84 stop: 52.75

Some positive analyst comments in the semiconductor sector offered a bullish environment for KLAC to make a new relative high and a breakout past the $56.00 level. Volume came in above average on today's 1.5% gain, which is bullish. Our target is the $59.50-60.00 range. Please note that we do not want to hold over the April earnings report. FYI: The P&F chart is bullish with a $69 target.

Picked on April 04 at $55.15
Change since picked: + 1.22
Earnings Date 04/26/07 (confirmed)
Average Daily Volume: 4.9 million

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Titan Intl - TWI - cls: 27.41 chg: -0.20 stop: 25.45

TWI seemed to run out of air as it sprinted toward the $28 level. Shares slowly drifted toward the $27.40 level and churned sideways the rest of the session. We would not suggest new positions at this time.
Our target is the $27.90-28.00 range. We're adjusting our stop loss to $25.45.

Picked on April 04 at $26.25
Change since picked: + 1.16
Earnings Date 04/23/07 (unconfirmed)
Average Daily Volume: 339 thousand

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UNIT Crp. - UNT - cls: 52.98 chg: +0.96 stop: 49.89

Oil stocks were strong on Tuesday and UNT rallied 1.8% and looks poised to breakout past the $53.00 level and its December 2005 high. This could be another entry point. Our target is the $58.00-60.00 range. We do not want to hold over the late April earnings report.

Picked on April 08 at $51.95
Change since picked: + 1.03
Earnings Date 04/25/07 (unconfirmed)
Average Daily Volume: 407 thousand
 

Short Play Updates

Hovnanian - HOV - cls: 23.56 chg: -0.29 stop: 26.01 *new*

Homebuilders continue to slide. Rival builder DHI reported that sales for the quarter were slow and the spring selling season was not off to a good start. Shares of HOV reacted with a 1.2% decline and a new relative low. We are adjusting our stop loss to $26.01. Our target for HOV is the $20.50-20.00 range. FYI: HOV does have a very high amount of short interest at almost 35% of the 31.3 million-share float. That does raise the risk of a short squeeze should the stock suddenly move higher!

Picked on April 02 at $24.69
Change since picked: - 1.13
Earnings Date 06/07/07 (unconfirmed)
Average Daily Volume: 1.9 million
 

Closed Long Plays

None
 

Closed Short Plays

None
 

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