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Call Updates

Cleveland Cliffs - CLF - cls: 80.84 chg: 2.02 stop: 74.49*new*

CLF is showing more relative strength today. The stock added another 2.5 percent on big volume after announcing that it had raised its stake in Australian iron-ore producer Portman Ltd to 60 percent of the outstanding shares. CLF is trying to buy the entire company and has extended its offer for another 14 days for the remaining shares. We are raising our stop loss to $74.49.

Picked on March 21 at $ 77.06
Change since picked: 3.78
Earnings Date 02/16/05 (confirmed)
Average Daily Volume = 1.2 million

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Parker-Hannifin - PH - close: 67.42 change: -0.10 stop: 63.99

No change from previous update. PH is holding up pretty well considering the weakness in the broader market. We would not suggest new bullish entries until PH traded back above the $69 level.

Picked on March 03 at $ 68.11
Change since picked: - 0.69
Earnings Date 01/18/05 (confirmed)
Average Daily Volume = 1.0 million

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Red Robin Burger - RRGB - cls: 48.87 chg: -0.38 stop: 44.99

No change from previous update. RRGB is holding up well considering the market weakness today.

Picked on March 10 at $ 48.00
Change since picked: 0.87
Earnings Date 02/14/05 (confirmed)
Average Daily Volume = 199 thousand
 

Put Updates

Allergan - AGN - close: 70.89 chg: 0.21 stop: 76.05

AGN has bounced back toward the top of its narrow, descending channel. This looks like a new entry point for bears but look for AGN to confirm it.

Picked on March 13 at $ 73.09
Change since picked: - 2.20
Earnings Date 04/29/05 (unconfirmed)
Average Daily Volume = 777 thousand

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Apollo Group - APOL - close: 74.26 chg: -0.81 stop: 76.75

No change from previous update.

Picked on January 23 at $ 77.61
Change since picked: - 3.83
Earnings Date 03/29/05 (confirmed)
Average Daily Volume = 2.4 million

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Beazer Homes - BZH - close: 155.29 chg: -0.10 stop: 162.01

Positive earnings news from Lennar (LEN) and KB Home (KBH) gave the sector a lift this morning but BZH failed near the $160.00 level and its 40-dma. This looks like a new bearish entry point. Don't forget that the 3-for-1 split takes effect tomorrow.

Picked on March 17 at $154.30
Change since picked: 0.99
Earnings Date 01/27/05 (confirmed)
Average Daily Volume = 742 thousand

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Google Inc - GOOG - close: 178.60 chg: -2.28 stop: 185.01

We would have expected a bigger decline in GOOG seeing the NASDAQ break support at the 2000 level and its simple 200-dma. However, it is worth noting that GOOG is rolling over at the new seven-week trendline of overhead resistance. Readers could use this as a new entry point or wait for confirmation with another decline tomorrow.

Picked on March 10 at $179.49
Change since picked: - 0.89
Earnings Date 02/01/05 (confirmed)
Average Daily Volume = 10.9 million

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Cheniere Energy - LNG - close: 68.09 chg: -2.61 stop: 75.01

Readers can use today's breakdown as a new bearish entry point.

Picked on March 11 at $ 69.49
Change since picked: - 1.40
Earnings Date 03/10/05 (confirmed)
Average Daily Volume = 517 thousand

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Intl Bus. Mach. - IBM - close: 89.50 chg: -0.01 stop 92.15

No change from previous update. There is no reaction to the news that IBM and Compuware have settled their antitrust complaints.

Picked on March 17 at $ 89.86
Change since picked: - 0.36
Earnings Date 04/14/05 (unconfirmed)
Average Daily Volume = 4.8 million

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Mcgraw Hill Cos - MHP - close: 87.80 chg: -0.28 stop: 90.21

No change from previous update.

Picked on March 15 at $ 88.40
Change since picked: - 0.50
Earnings Date 04/26/05 (unconfirmed)
Average Daily Volume = 751 thousand

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Millipore - MIL - close: 43.65 chg: 0.13 stop: 46.05

No change from previous update.

Picked on March 16 at $ 43.95
Change since picked: - 0.30
Earnings Date 04/19/05 (unconfirmed)
Average Daily Volume = 358 thousand

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Pacificare Health - PHS - close: 58.76 chg: -0.40 stop: 62.01

No change from previous update.

Picked on March 20 at $ 59.04
Change since picked: - 0.28
Earnings Date 04/28/05 (unconfirmed)
Average Daily Volume = 1.1 million

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Toll Brothers - TOL - close: 76.85 chg: 0.68 stop: 81.50

Positive earnings news from Lennar (LEN) and KB Home (KBH) lifted the sector earlier today but TOL failed near its 10-dma under the $80.00 level this afternoon when the market rolled over.

Picked on March 17 at $ 76.81
Change since picked: 0.04
Earnings Date 02/23/05 (confirmed)
Average Daily Volume = 2.1 million
 

Dropped Calls

Progressive - PGR - close: 87.99 change: -1.14 stop: 88.49

Yesterday we raised our stop loss to $88.49 to protect us from a breakdown of PGR's rising channel. That breakdown occurred today. Shares failed near the $90.00 level and turned south with the rest of the market Tuesday afternoon. PGR closed under technical support at the 21-dma and the 100-dma while its MACD has now produced a new sell signal. We are stopped out at $88.49.

Picked on March 07 at $ 89.51
Change since picked: - 1.52
Earnings Date 04/21/05 (unconfirmed)
Average Daily Volume = 770 thousand
 

Dropped Puts

None

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