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Long Play Updates

Apria Healthcare - AHG - cls: 31.31 chg: +0.41 stop: 28.99

AHG continued the rally that began with yesterday's rebound from support. We remain bullish and would still consider new positions here. More conservative traders may be tempted to raise their stop loss toward $30.00. Our target is the $33.95-34.00 range. We do not want to hold over the late July earnings report in about three weeks.

Picked on July 08 at $31.12
Change since picked: + 0.19
Earnings Date 07/26/07 (unconfirmed)
Average Daily Volume: 700 thousand

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Columbia Sportswear - COLM - cls: 69.62 chg: +1.55 stop: 65.95

The market's big rally and the better than expected same-store comps from the retailers helped lift COLM to a 2.2% gain. The current move now looks like a bullish reversal/rebound from support near $67 and its rising 50-dma. However, the stock remains under resistance at the $70.00 level. You may want to tighten your stop loss toward $67.00. Our target is the $73.50-75.00 range. The P&F chart is very bullish with an $89 target.

Picked on June 17 at $68.54
Change since picked: + 1.08
Earnings Date 07/26/07 (unconfirmed)
Average Daily Volume: 219 thousand

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GulfMark - GMRK - cls: 55.96 change: +0.99 stop: 49.99

Energy stocks continue to be a big part of the market rally. Shares of GMRK surged 1.8% to a new all-time high. We would still consider new positions. Our target is the $59.50-60.00 range. We don't want to hold over the late July earnings report.

Picked on July 09 at $54.55
Change since picked: + 1.41
Earnings Date 07/26/07 (unconfirmed)
Average Daily Volume: 284 thousand

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Royal Gold - RGLD - cls: 26.63 change: +1.33 stop: 23.99

The rally in gold stocks returned. The GOX index rose 3.2% and the XAU index rose 3.3% to what looks like a new high for the year. Shares of RGLD managed to out perform most of its peers with a 5.2% rally on above average volume. The stock also broke through technical resistance at the 50-dma. Our target is the $27.90-28.00 range. More aggressive traders may want to aim higher. FYI: The P&F chart is still very bearish.

Picked on July 08 at $25.75
Change since picked: + 0.88
Earnings Date 08/16/07 (unconfirmed)
Average Daily Volume: 462 thousand

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Verasun Energy - VSE - cls: 15.66 chg: -0.62 stop: 13.95

Warning! The trading in VSE today looks like a bearish failed rally and reversal pattern. The stock hit an intraday high of $16.93 before giving it all back and losing 3.8% by the closing bell. We would expect a dip back towards $15.00-14.50 range. More conservative traders may want to exit early or at least take some money off the table right here. Our target is the $17.75-18.00 range, just under the simple 200-dma. We'll be watching the 100-dma as potential resistance.

Picked on June 29 at $14.21
Change since picked: + 1.45
Earnings Date 08/07/07 (unconfirmed)
Average Daily Volume: 878 thousand
 

Short Play Updates

Empresa Natl. Elec. - EOC - cls: 45.89 chg: -0.31 stop: 50.05

EOC continues to show relative weakness but odds are good that today's rally in the U.S. markets will fuel strength overseas. If the South American markets rally tomorrow then EOC might bounce. The $48.00-48.50 zone should be resistance. The $45.00 level and the 100-dma could be support. Our target is the $43.00-42.50 range. We do not want to hold over the late July earnings report.

Picked on July 08 at $47.50
Change since picked: - 1.61
Earnings Date 07/25/07 (unconfirmed)
Average Daily Volume: 141 thousand
 

Closed Long Plays

None
 

Closed Short Plays

Staples Inc. - SPLS - cls: 24.81 chg: +0.89 stop: 25.15

We are giving up on SPLS and suggesting an early exit. Today's better than expected retail same-store sales ignited a big relief rally and short-covering. SPLS soared 3.7% and broke through technical resistance at the 50-dma. We don't know if the rally has legs but we'd rather exit now and cut our losses.

Picked on May 27 at $24.40
Change since picked: + 0.41
Earnings Date 07/27/07 (unconfirmed)
Average Daily Volume: 7.0 million
 

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