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Call Updates

Cleveland Cliffs - CLF - cls: 77.25 chg: -1.02 stop: 74.49

Traders should be careful here. The major indices continue to look weak and with Thursday's failed rally stocks could see trouble next week. If that's the case then CLF is likely to retest the $75.00 level as support. We would not suggest new bullish positions until CLF traded back over the $80.00 mark.

Picked on March 21 at $ 77.06
Change since picked: + 0.19
Earnings Date 02/16/05 (confirmed)
Average Daily Volume = 1.2 million

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PalmOne - PLMO - close: 26.64 chg: +0.93 stop: 22.99

Good news! PLMO continued to show strength on Thursday and the stock added another 3.6 percent on decent volume. Thursday's gain also produced a new buy signal on the P&F chart with a $35.00 target. We are only targeting a move into the $29-30 range. There are no changes to our strategy outlined yesterday.

Picked on March 23 at $ 25.71
Change since picked: + 0.93
Earnings Date 03/17/05 (confirmed)
Average Daily Volume = 3.2 million

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Parker-Hannifin - PH - close: 67.55 change: +1.06 stop: 63.99

PH is providing us some good news as well. The stock bounced from the dip to $66.50 and is back over the 50-dma. However, we would remain cautious until PH traded back above the $68.50-69.00 level, which would suggest there is more strength behind the current bounce.

Picked on March 03 at $ 68.11
Change since picked: - 0.56
Earnings Date 01/18/05 (confirmed)
Average Daily Volume = 1.0 million

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Red Robin Burger - RRGB - cls: 49.80 chg: +0.52 stop: 44.99

No change from previous update.

Picked on March 10 at $ 48.00
Change since picked: + 1.80
Earnings Date 02/14/05 (confirmed)
Average Daily Volume = 199 thousand
 

Put Updates

Allergan - AGN - close: 70.80 chg: -0.15 stop: 76.05

No change from previous update.

Picked on March 13 at $ 73.09
Change since picked: - 2.29
Earnings Date 04/29/05 (unconfirmed)
Average Daily Volume = 777 thousand

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Beazer Homes - BZH - close: 52.27 chg: +0.46 stop: 54.01

The Commerce Dept. announced that new home sales soared again in February to a very strong pace. Yet the positive news only produced a short-term blip higher in shares of BZH. However, if we don't see some follow through to the downside in the next few days we'll probably exit BZH early.

Picked on March 17 at $ 51.43
Change since picked: + 0.84
Earnings Date 01/27/05 (confirmed)
Average Daily Volume = 742 thousand

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Google Inc - GOOG - close: 179.25 chg: +0.27 stop: 185.01

No change from previous update.

Picked on March 10 at $179.49
Change since picked: - 0.24
Earnings Date 02/01/05 (confirmed)
Average Daily Volume = 10.9 million

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Cheniere Energy - LNG - close: 67.36 chg: +0.66 stop: 72.01

LNG managed a bounce on yesterday's potential (bullish) reversal but the bounce began to fail as well with LNG turning lower in the afternoon. We remain bearish and expect the $70.00 level to act as overhead resistance.

Picked on March 11 at $ 69.49
Change since picked: - 2.13
Earnings Date 03/10/05 (confirmed)
Average Daily Volume = 517 thousand

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Intl Bus. Mach. - IBM - close: 90.70 chg: +0.18 stop 92.15

IBM continued to rise with its oversold bounce but the rally began to fail near the $91.50 level this afternoon. This could be a new bearish entry point but we would want to see IBM confirm the failed rally with a drop back under the $90.00 mark.

Picked on March 17 at $ 89.86
Change since picked: + 0.84
Earnings Date 04/14/05 (unconfirmed)
Average Daily Volume = 4.8 million

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Mcgraw Hill Cos - MHP - close: 87.79 chg: -0.60 stop: 90.21

No change from previous update.

Picked on March 15 at $ 88.40
Change since picked: - 0.61
Earnings Date 04/26/05 (unconfirmed)
Average Daily Volume = 751 thousand

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Millipore - MIL - close: 44.70 chg: +0.24 stop: 46.05

Keep an eye on the 50-dma near $45.00. If MIL breaks out over this level we'll probably close this play early.

Picked on March 16 at $ 43.95
Change since picked: + 0.75
Earnings Date 04/19/05 (unconfirmed)
Average Daily Volume = 358 thousand

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Pacificare Health - PHS - close: 58.43 chg: +0.33 stop: 62.01

No change from previous update.

Picked on March 20 at $ 59.04
Change since picked: - 0.61
Earnings Date 04/28/05 (unconfirmed)
Average Daily Volume = 1.1 million

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Toll Brothers - TOL - close: 77.27 chg: +1.27 stop: 81.50

TOL bounced a bit after the Commerce Dept. announced strong new home sales for February. The lack of a bigger, more positive reaction could be taken as confirmation that the group is getting tired and in need of more consolidation. No change in our strategy. The $80.00 mark should be overhead resistance.

Picked on March 17 at $ 76.81
Change since picked: + 0.46
Earnings Date 02/23/05 (confirmed)
Average Daily Volume = 2.1 million
 

Dropped Calls

None
 

Dropped Puts

Apollo Group - APOL - close: 72.01 chg: -1.12 stop: 76.75

Finally! It took long enough but APOL is finally seeing some follow through to the downside. Shares lost another 1.5 percent and broke through support in the $73.00 region. The MACD has produced a new sell signal. Our original target was the $72.00-70.00 range but in recent updates we stated that we'd be happy to close the play at $72.00, which APOL happened to hit late in Thursday's session. Readers should note that considering the new breakdown in APOL below the $73 level and the current weakness in the major indices we would consider keeping the play open and targeting an exit in the $70.50-70.00 range. The Option Investor Daily newsletter is going to stick to the published game plan and exit here at $72.00.

Picked on January 23 at $ 77.61
Change since picked: - 5.60
Earnings Date 03/29/05 (confirmed)
Average Daily Volume = 2.4 million
 

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