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Long Play Updates

Credicorp - BAP - close: 82.14 change: -0.52 stop: 79.99 *new*

BAP is quietly trading sideways as investors wait for the company's earnings report out tomorrow night. We plan to exit tomorrow at the close to avoid holding over the announcement. We're also inching up our stop loss to $79.99. Our target is the $84.75-85.00 range.

Picked on April 28 at $80.51 *triggered
Change since picked: + 1.63
Earnings Date 05/07/08 (confirmed)
Average Daily Volume: 327 thousand

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Peabody Energy - BTU - close: 65.81 change: +2.06 stop: 61.49

Strategy change! Coal stocks continue to burn higher and BTU is running away from us. We were trying to buy a dip near $60.50. That's not going to happen. We're changing our suggested entry point to $63.50 and changing our stop loss to $61.49. Our target will be the $69.50-70.00 range.

Picked on May xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 04/22/08 (confirmed)
Average Daily Volume: 6.2 million

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Citigroup - C - close: 25.87 change: +0.12 stop: 24.50

Citigroup spiked lower this morning but traders bought the dip near $25.00 this morning. We had been suggesting that readers buy dips at $25.50 or $25.00. More conservative traders might want to move their stop closer to $25.00. We have two targets. Our first target is the $27.50-28.00 zone. Our second, more aggressive target is the $29.70-30.00 range. The Point & Figure chart is bullish with a $36.00 target.

Picked on April 21 at $24.50 *triggered
Change since picked: + 1.37
Earnings Date 04/24/08 (unconfirmed)
Average Daily Volume: 104 million

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Citi Trends - CTRN - close: 20.96 change: +0.19 stop: 18.99

CTRN spent the session trading sideways. We're still waiting for a dip. Currently our suggested entry point to buy CTRN is the $20.05-19.50 zone. Our stop loss is at $18.99. If triggered we will have two targets. Our first target is the $22.40-22.50 range. Our second target is the $24.00-25.00 range. We do not want to hold over the late May earnings report (still unconfirmed date). The P&F chart is bullish with a $29.00 target.

Picked on April xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 05/22/08 (unconfirmed)
Average Daily Volume: 327 thousand

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Excel Maritime - EXM - cls: 45.06 chg: +1.19 stop: 39.95*new*

Shipping stocks continue higher as shipping rates rose again. EXM added 2.7% on the session. We're raising our stop loss to $39.95.
If you're looking for a new entry point wait for another dip in the 43.50-42.50 zone. Our target is the $49.00-50.00 range. We do not want to hold over the May earnings report. Our challenge is that the report date us unconfirmed. One source suggests that EXM might report as early as May 15th. This could be a very quick play since we will try to avoid holding over earnings.

Picked on May 04 at $43.12
Change since picked: + 1.94
Earnings Date 05/19/08 (confirmed)
Average Daily Volume: 1.1 million

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Kohl's - KSS - close: 48.81 change: +0.61 stop: 48.49

The retailers managed a meager bounce and KSS out performed many of its peers with a 1.2% rebound. We're still waiting for a breakout over resistance. Right now our suggested entry point to buy KSS is at $51.05. This is going to be a short-term play as we don't want to hold over the May 15th earnings report. If triggered at $51.05 we have two targets. Our short-term target is the $54.90 mark. Our secondary target is the $58.00-60.00 zone. The P&F chart looks very bullish with a $67 target.

Picked on May xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 05/15/08 (confirmed)
Average Daily Volume: 5.8 million

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Lowe's Cos. - LOW - close: 25.41 change: -0.04 stop: 24.99

Both LOW and HD under performed the markets today. LOW dipped to the $25.00 level and bounced. This looks like another entry point to buy the stock. Readers may want to look for signs of a bounce first before jumping in. Our four-week target is the $27.90-28.00 range. We do not want to hold over the late May earnings report. The P&F chart is bullish with a $39 target.

Picked on April 27 at $26.02
Change since picked: - 0.61
Earnings Date 05/21/08 (unconfirmed)
Average Daily Volume: 12.7 million

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PowerShares India - PIN - close: 26.68 chg: -0.13 stop: 25.95

PIN actually hit some profit taking this morning but traders stepped in to buy the dip. We see the afternoon bounce as another entry point. Our target is the $27.85-28.00 zone.

Picked on April 24 at $26.39
Change since picked: + 0.29
Earnings Date 00/00/00
Average Daily Volume: 97 thousand

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Terra Ind. - TRA - close: 41.55 change: +0.66 stop: 37.95 *new*

Fertilizer stocks rallied and TRA posted a 1.6% gain. We don't see any real changes from our previous comments. If you don't want to buy it here then look for a pull back to the $40.50-40.00 zone. We are raising our stop loss to $37.95. This can be a volatile group so expect some big swings. Our target is the $47.00-48.00 range. FYI: TRA is holding an analyst conference on May 5th.

Picked on May 04 at $40.03
Change since picked: + 1.52
Earnings Date 04/24/08 (confirmed)
Average Daily Volume: 4.6 million

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S&P SPDR Homebuilders - XHB - cls: 23.00 chg: +0.31 stop: 21.69

The XHB, much like the market, followed shares of Fannie Mae (FNM) lower this morning and then higher as FNM rebounded. This intraday bounce in XHB Looks like another entry point for bullish positions. We have two targets. Our first target is the $24.40-25.00 range. The $25.00 level will probably be resistance. Our second, much more aggressive target is the $27.00-27.50 range. The Point & Figure chart is very bullish with a $35.00 target.

Picked on April 24 at $22.67
Change since picked: + 0.33
Earnings Date 00/00/00
Average Daily Volume: 7.9 million
 

Short Play Updates

None
 

Closed Long Plays

Blue Coat Sys. - BCSI - close: 25.16 chg: +0.86 stop: 21.75

There is nothing wrong with BCSI. The stock has just been too strong for us. We don't want to chase it and BCSI hasn't offer us any real dips to buy. Traders jumped in early this morning at $23.46 and the stock soared back toward resistance near the 100-dma. It does look like BCSI has put the bottom in and we'll keep an eye on it for a bullish entry point down the road. Our suggested entry point to buy the stock was at $22.50 but it never happened.

Picked on May xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 05/29/08 (unconfirmed)
Average Daily Volume: 1.2 million

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Lamar Advertising - LAMR - cls: 40.02 chg: +0.04 stop: 38.49

Time has run out for our play on LAMR. It was our plan to exit tonight at the closing bell to avoid holding over earnings. LAMR had already exceeded our first target near $40.00. Shares came close to $42.00 a few days ago but never made it to our second target at $42.50.

Picked on April 23 at $37.47 *1st target hit
Change since picked: + 2.55
Earnings Date 05/07/08 (confirmed)
Average Daily Volume: 2.0 million
 

Closed Short Plays

None
 

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