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Long Play Updates

Columbia Sportswear - COLM - cls: 68.01 chg: +0.39 stop: 66.99

COLM dipped toward support and actually bounced off the $67.00 mark a few times. That's very close to our stop loss at $66.99. We are repeating our previous comments that more conservative traders may want to exit early. We are planning to exit at the closing bell on Thursday, July 26th, to avoid holding over earnings. We're not suggesting new positions at this time.

Picked on June 17 at $68.54
Change since picked: - 0.53
Earnings Date 07/26/07 (confirmed)
Average Daily Volume: 219 thousand
 

Short Play Updates

Boston Scientific - BSX - cls: 14.07 change: -0.30 stop: 15.51

Target achieved. BSX continues to plummet. The stock lost another 2% and hit an intraday low of $14.05. We have two targets listed. Our conservative target is the $14.05-14.00 range since BSX could have support near the March 2007 lows. Our more aggressive target is the $13.55-13.50 zone.

Picked on July 22 at $14.79
Change since picked: - 0.72
Earnings Date 07/20/07 (confirmed)
Average Daily Volume: 9.0 million

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Group 1 Automotive - GPI - cls: 37.27 change: -0.23 stop: 40.26

GPI continues to slowly drift lower. Volume has been rising on the sell-off, which is usually good news for the bears. The trend continues to look negative here. We only have three trading days since we plan to exit ahead of the earnings report on July 31st. Our target is the $35.15-35.00 range. More aggressive traders may want to aim lower. The Point & Figure chart has a relatively new triple-bottom breakdown sell signal with a $33 target.

Picked on July 22 at $38.22
Change since picked: - 0.95
Earnings Date 07/31/07 (confirmed)
Average Daily Volume: 512 thousand

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Mattel - MAT - cls: 24.26 change: -0.07 stop: 26.15

MAT hit a new relative low but shares managed a decent intraday rebound. The stock looks ready to bounce again. Broken support near $25.00 should be new resistance. Our target is the $22.05-22.00 range.

Picked on July 22 at $24.68
Change since picked: - 0.42
Earnings Date 07/16/07 (confirmed)
Average Daily Volume: 3.1 thousand

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UnitedHealth - UNH - cls: 51.21 change: +0.21 stop: 52.05

There is no change from our previous comments on UNH. We are waiting for a breakdown under support at $50.00. We're suggesting a trigger to short the stock at $49.95. If triggered our target is the $45.25-45.00 range. The P&F chart is already bearish and points to a $46 target.

Picked on July xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 07/19/07 (confirmed)
Average Daily Volume: 6.5 million

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Energy Sector SPDR - XLE - cls: 73.30 chg: +1.15 stop: 75.01

There is no change from our previous comments on the XLE. Energy stocks managed a nice intraday rebound thanks to a big short squeeze in crude oil today. We don't really expect a correction in oil and oil stocks for another couple of weeks but if it starts early we're ready. Right now we're suggesting a trigger to short the XLE at $69.75. We honestly don't expect to be triggered until early August so we'll make adjustments to our entry point and stop loss as necessary.

Picked on July xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 00/00/00 (unconfirmed)
Average Daily Volume: 19.1 million
 

Closed Long Plays

FreightCar America - RAIL - cls: 52.15 chg: -0.31 stop: 51.95

Yesterday we raised our stop loss to limit our risk. Unfortunately, RAIL experienced enough profit taking to trade under support near $52.00 and its simple 200-dma. A 1.7% sell-off in the railroad index did not help the bulls. Our stop loss was at $51.95.

Picked on July 15 at $52.73
Change since picked: - 0.58
Earnings Date 07/26/07 (confirmed)
Average Daily Volume: 381 thousand
 

Closed Short Plays

None
 

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