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Call Updates

Cleveland Cliffs - CLF - cls: 78.82 chg: +2.76 stop: 72.49*new*

Investors responded positively to the news that CLF had acquired 48.4 million shares of Portman Ltd, an Australian iron ore producer. CLF has been trying to buy the company and today's announcement brings CLF's ownership up to 27.6 percent of Portman's outstanding shares. Bulls can be happy with today's 3.6 percent rally in the face of a down day in the markets. We had a TRIGGER to go long at $77.05 so the play is now open. Actually CLF opened at $77.06 so our entry point has been adjusted to today's open. Our short-term target remains the $85.00-87.50 range. We are going to raise the stop loss to 72.49.

Picked on March 21 at $ 77.06
Change since picked: + 1.76
Earnings Date 02/16/05 (confirmed)
Average Daily Volume = 1.2 million

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Parker-Hannifin - PH - close: 67.52 change: -0.60 stop: 63.99

No change from previous update.

Picked on March 03 at $ 68.11
Change since picked: - 0.59
Earnings Date 01/18/05 (confirmed)
Average Daily Volume = 1.0 million

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Progressive - PGR - close: 89.13 change: -1.08 stop: 88.49 *new*

Another big down day for the IUX insurance sector is really starting to weigh on PGR's bullish trend. The lack of follow through on Friday's bounce makes us cautious. We are raising our stop loss to $88.49.

Picked on March 07 at $ 89.51
Change since picked: - 0.38
Earnings Date 04/21/05 (unconfirmed)
Average Daily Volume = 770 thousand

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Red Robin Burger - RRGB - cls: 49.25 chg: +0.05 stop: 44.99

No change from previous update.

Picked on March 10 at $ 48.00
Change since picked: + 1.25
Earnings Date 02/14/05 (confirmed)
Average Daily Volume = 199 thousand
 

Put Updates

Allergan - AGN - close: 70.68 chg: -1.03 stop: 76.05

Good news! AGN has broken down below the February low. The stock did manage a bounce from today's low but we would look for any rebound to struggle under the $72 level.

Picked on March 13 at $ 73.09
Change since picked: - 2.41
Earnings Date 04/29/05 (unconfirmed)
Average Daily Volume = 777 thousand

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Apollo Group - APOL - close: 75.07 chg: +0.48 stop: 76.75

No change from previous update. We will plan to exit before APOL's March 29th earnings report.

Picked on January 23 at $ 77.61
Change since picked: - 3.02
Earnings Date 03/29/05 (confirmed)
Average Daily Volume = 2.4 million

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Beazer Homes - BZH - close: 155.39 chg: +0.48 stop: 162.01

No change from previous update. Don't forget that BZH splits 3-for-1 on Wednesday. Option symbols and values will change. Check with your broker for new symbols. Meanwhile a negative Barron's article suggesting the homebuilders are in a bubble that's about to burst certainly helps our bearish sentiment.

Picked on March 17 at $154.30
Change since picked: + 1.09
Earnings Date 01/27/05 (confirmed)
Average Daily Volume = 742 thousand

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Google Inc - GOOG - close: 180.88 chg: +0.84 stop: 185.01

The IACI-ASKJ merger news today put a bid under Internet-related stocks today. GOOG managed to close over the $180.00 mark, which should put bears on the defensive. Some analysts are concerned that the IACI-ASKJ deal puts GOOG's relationship with ASKJ in jeopardy but the ASKJ-GOOG contract doesn't expire until 2007. Short-term some believe it could be a positive for GOOG since IACI will likely bring more traffic to ASKJ's search features and thus GOOG will share in the higher traffic and paid search results. GOOG remains very high risk for both bulls and bears here. We continue to watch the $185 level for resistance but would not suggest new shorts/puts until GOOG traded under $178.

Picked on March 10 at $179.49
Change since picked: + 1.39
Earnings Date 02/01/05 (confirmed)
Average Daily Volume = 10.9 million

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Cheniere Energy - LNG - close: 70.70 chg: -0.05 stop: 75.01

No change from previous update.

Picked on March 11 at $ 69.49
Change since picked: + 1.21
Earnings Date 03/10/05 (confirmed)
Average Daily Volume = 517 thousand

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Intl Bus. Mach. - IBM - close: 89.51 chg: +0.23 stop 92.15

Big Blue managed to slowly climb throughout most of the session only to collapse in the last half hour after testing the 200-dma. This looks like a new bearish entry point.

Picked on March 17 at $ 89.86
Change since picked: - 0.35
Earnings Date 04/14/05 (unconfirmed)
Average Daily Volume = 4.8 million

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Mcgraw Hill Cos - MHP - close: 88.08 chg: -0.62 stop: 90.21

No change from previous update.

Picked on March 15 at $ 88.40
Change since picked: - 0.32
Earnings Date 04/26/05 (unconfirmed)
Average Daily Volume = 751 thousand

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Millipore - MIL - close: 43.52 chg: -0.35 stop: 46.05

No change from previous update.

Picked on March 16 at $ 43.95
Change since picked: - 0.43
Earnings Date 04/19/05 (unconfirmed)
Average Daily Volume = 358 thousand

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Pacificare Health - PHS - close: 59.16 chg: +0.12 stop: 62.01

No change from previous update.

Picked on March 20 at $ 59.04
Change since picked: + 0.12
Earnings Date 04/28/05 (unconfirmed)
Average Daily Volume = 1.1 million

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Toll Brothers - TOL - close: 76.17 chg: -0.96 stop: 81.50

No change from previous update. A negative Barron's article suggesting the homebuilders are in a bubble that's about to burst certainly helps our bearish sentiment.

Picked on March 17 at $ 76.81
Change since picked: - 0.64
Earnings Date 02/23/05 (confirmed)
Average Daily Volume = 2.1 million


Dropped Calls

None today.
 

Dropped Puts

None today.

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