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Long Play Updates

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Short Play Updates

Genuine Parts - GPC - cls: 42.05 chg: -0.40 stop: 44.01

GPC rallied to its exponential 200-dma and reversed. Readers can use today's move as a new entry point for shorts or wait for a new decline under $41.50 to open positions. Our target is the $38.50 mark. More aggressive traders may want to aim lower. The P&F chart is bearish with a $28 target. We don't see any significant levels of short interest.

Picked on August 31 at $42.42
Change since picked: - 0.37
Earnings Date 10/17/08 (unconfirmed)
Average Daily Volume: 1.1 million

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Hologic Inc. - HOLX - close: 18.62 chg: -0.76 stop: 20.15 *new*

HOLX sank to a new four-week low and looks poised to hit our first target at $18.15 tomorrow. We are lowering our stop loss to $20.15. We have two targets. Our first target is $18.15 near the August low. Expect a bounce when HOLX nears $18.00. Our second target is the $16.55 mark.

Picked on September 04 at $19.60 *triggered
Change since picked: - 0.98
Earnings Date 11/06/08 (unconfirmed)
Average Daily Volume: 5.5 million

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Merck - MRK - close: 34.34 change: -1.14 stop: 35.90 *new*

MRK showed some volatility today. Shares spiked to $35.85 this morning before reversing to close with a 3% loss. Today's move paints a bearish engulfing candlestick pattern on the daily chart. We are lowering the stop loss to $35.90. Today's move looks like another entry point for shorts. Our target is the $32.00 level. More aggressive traders may want to aim for $30.00. The P&F chart is bearish and points to a $23 target. We don't see any significant amounts of short interest.

Picked on August 31 at $35.67
Change since picked: - 1.34
Earnings Date 10/22/08 (unconfirmed)
Average Daily Volume: 17.8 million
 

Closed Long Plays

Coldwater Creek - CWTR - cls: 7.63 change: -0.29 stop: 7.19

More aggressive traders may want to stick with CWTR. We do not have any faith in this market and today's move in CWTR looks like another failed rally pattern. Shares hit $8.31 and reversed sharply. There is a chance that CWTR will bounce near $7.50 or $7.40 but we don't want to risk it. We'd rather cut our losses now.

Picked on September 08 at $ 8.05 *early exit 7.63
Change since picked: - 0.42
Earnings Date 11/28/08 (unconfirmed)
Average Daily Volume: 1.7 million

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Sigma-Aldrich - SIAL - cls: 52.88 change: -0.83 stop: 52.15

We are suggesting readers abandon ship with SIAL as well. The stock produced another failed rally today and looks poised to hit new lows soon. There is a chance that SIAL will bounce again near $52.00 but we don't want to take that chance. The bounce has failed so we're closing the play.

Picked on September 06 at $53.80
Change since picked: - 0.92
Earnings Date 10/21/08 (unconfirmed)
Average Daily Volume: 1.2 million

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Teradyne - TER - close: 8.75 change: -0.46 stop: 8.75

Tech stocks continued to under perform and the SOX semiconductor index sank to another new low. TER followed the chips lower and shares of TEX gave up almost 5% to hit our stop at $8.75. A breakdown under significant support at $8.70 would look like an entry point for bearish positions.

Picked on September 06 at $ 9.18 /stopped 8.75
Change since picked: - 0.43
Earnings Date 10/16/08 (unconfirmed)
Average Daily Volume: 3.6 million
 

Closed Short Plays

Expedia - EXPE - close: 17.10 change: -0.74 stop: 18.35

EXPE spiked higher this morning and rallied just enough to hit $18.38 before reversing lower. Our stop loss was $18.35. We're going to mark this as a loss but we're re-listing EXPE as a short play again. However, this time we're suggesting readers use a trigger at $16.75 to open positions. Check out the details in our new play section.

Picked on September 03 at $17.25 */stopped out 18.35
Change since picked: - 0.15
Earnings Date 11/06/08 (unconfirmed)
Average Daily Volume: 4.2 million
 

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