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Call Updates

Alliance Resource - ARLP - cls: 78.80 chg: -0.95 stop: 74.49

Uh-oh! Readers need to be careful here. ARLP spiked to $80.99 this morning and then promptly sold off. Shares did bounce from their lows but began to fade again this afternoon. The session almost looks like a bearish engulfing candlestick. Now ARLP is due for some rest but readers may still want to consider taking some profits here. We'll look for the $75.00 level to offer support.


 

Picked on February 27 at $ 75.01
Change since picked: + 3.79
Earnings Date 01/27/05 (confirmed)
Average Daily Volume = 95 thousand

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St Joe Co - JOE - close: 75.64 chg: +0.59 stop: 72.49

We did not have to wait very long for JOE to breakout over the $75.00 level and hit our entry point at $75.51. Shares did that today and the MACD is inching closer to a new buy signal.


 

Picked on March 07 at $ 75.51
Change since picked: + 0.13
Earnings Date 05/04/05 (unconfirmed)
Average Daily Volume = 500 thousand

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Progressive - PGR - close: 89.76 change: +1.00 stop: 85.80

PGR is one of our new calls that has quickly passed our trigger to buy calls. The plan was to go long at $89.51 and shares of PGR quickly did that this morning.


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Picked on March 07 at $ 89.51
Change since picked: + 0.25
Earnings Date 04/21/05 (unconfirmed)
Average Daily Volume = 770 thousand

Put Updates

Apollo Group - APOL - close: 77.50 chg: +2.81 stop: 78.01

Danger! Danger! We can't find any news to explain APOL's sudden strength but the 3.76 percent rally was fueled by decent volume. If you check the intraday chart you'll see rallies powered by volume. The stock is testing resistance at the $78.00 level and its descending trendline. Conservative traders may want to exit now. At this point we are expecting APOL to hit our stop loss tomorrow.


 

Picked on January 23 at $ 77.61
Change since picked: - 0.11
Earnings Date 12/16/04 (confirmed)
Average Daily Volume = 2.4 million

Drops

Research In Motion - RIMM - cls: 62.22 chg: -5.10 stop: 70.51

Target achieved! Actually RIMM has surpassed our initial target of $64.00-64.50. The stock lost 7.5 percent on very big volume to breakdown below its January lows. The move was caused by a Piper Jaffray downgrade to "market perform". This kind of drop on a day when the NASDAQ out performs can look pretty negative. We are closing out the play at $64.25 (middle of the range). While we do suggest readers take profits here some may want to consider just significantly tightening stops and targeting the $61-60 area.


 

Picked on February 23 at $ 69.75
Change since picked: - 7.53
Earnings Date 03/22/05 (unconfirmed)
Average Daily Volume = 7.9 million

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