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Call Updates

None today.

Put Updates

Apollo Group - APOL - close: 74.02 chg: -2.42 stop: 80.11

Good news for the bears. APOL completely bucked the market's bullish bias today and broke down to new relative lows under technical support at the 100-dma and round-number support at $75.00. Volume was above average on today's decline suggesting more weakness ahead. Remember that our target range is the $72-70 region.

Picked on January 23 at $ 77.61
Change since picked: - 3.59
Earnings Date 12/16/04 (confirmed)
Average Daily Volume = 2.4 million


Amerada Hess - AHC - close: 94.88 change: +2.88 stop: 84.99

Target achieved! Oil stocks continued to charge higher and AHC helped lead the charge. AHC added 3.13 percent to breakout past resistance near $94.00 level and close at new all-time highs. Our target was the $94.00 level and we're closing the play.

Picked on January 31 at $ 86.65
Change since picked: + 8.23
Earnings Date 01/26/05 (confirmed)
Average Daily Volume = 1.2 million

Goldman Sachs - GS - close: 112.77 chg: +1.32 stop: 105.00

GS has been trading inside our $110-115 target range for the last few days. We had been hoping to see GS hit the $114 region before closing the play and shares added another 1.18 percent today. We felt that in spite of today's market rally it would be more prudent to close the play here. Readers willing to keep the play open should strongly consider raising their stop loss. We would suggest somewhere under the 10-dma at about $109.50 as a stop.

Picked on January 30 at $106.12
Change since picked: + 6.65
Earnings Date 03/17/05 (unconfirmed)
Average Daily Volume = 3.4 million

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