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Call Updates

PalmOne - PLMO - close: 26.14 chg: -0.46 stop: 22.99

PLMO is showing a little bit of profit taking today. Look for shares to pull back to the $25.00 level, which should be support. A bounce from $25.00 could be used as a new bullish entry point.

Picked on March 23 at $ 25.71
Change since picked: + 0.43
Earnings Date 03/17/05 (confirmed)
Average Daily Volume = 3.2 million

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Red Robin Burger - RRGB - cls: 50.23 chg: +0.43 stop: 44.99

RRGB continues to show strength and the stock climbed back over the $50.00 level in the last hour of trading. The company did have some news after the closing bell. Management announced it was still reviewing its accounting policies regarding leases with its accounting firm and RRGB would delay its 10-K filing. The stock was trading lower about $49.75 after hours.

Picked on March 10 at $ 48.00
Change since picked: + 2.23
Earnings Date 02/14/05 (confirmed)
Average Daily Volume = 199 thousand
 

Put Updates

Allergan - AGN - close: 70.76 chg: -0.04 stop: 76.05

No change from previous update.

Picked on March 13 at $ 73.09
Change since picked: - 2.33
Earnings Date 04/29/05 (unconfirmed)
Average Daily Volume = 777 thousand

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Beazer Homes - BZH - close: 52.20 chg: -0.07 stop: 54.01

If you watched CNBC today then you probably heard the bull-bear debate on the homebuilders. Both analysts offered some interesting points but we find the lack of strength in the housing sector as a clue that there is more consolidation ahead. Still we remain cautious as BZH is not seeing much follow through to the downside either. Look for a move under $51.00 before considering new positions. We may still exit this play early if BZH doesn't get moving soon.

Picked on March 17 at $ 51.43
Change since picked: + 0.77
Earnings Date 04/21/05 (unconfirmed)
Average Daily Volume = 742 thousand

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Fedex Corp - FDX - close: 94.60 chg: +0.71 stop: 96.01

FDX and the Dow Transports slowly drifted higher on Monday but both began to fade in the last hour. Shares of FDX were unable to hold its gains over the $95.00 level. A drop back under $94.00 could be used as a bearish entry point.

Picked on March 27 at $ 93.89
Change since picked: + 0.71
Earnings Date 03/17/05 (confirmed)
Average Daily Volume = 1.8 million

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Google Inc - GOOG - close: 181.42 chg: +2.17 stop: 185.01

GOOG finally gave us some excitement this morning. Shares shot higher after the open following positive comments from Goldman Sachs. The GS analyst following YHOO and GOOG issued positive comments on both Internet stocks suggesting traders buy them ahead of their April earnings reports (source: CBSMW). We were happy to see that the $185.00 level, bolstered by its 100-dma, acted as overhead resistance. The failure to hold most of its gains is probably good news for GOOG bears but we would be careful here. Today's rally did push GOOG above its two-month trendline of resistance (see chart). Look for a move back under $177 before considering new bearish positions.

Picked on March 10 at $179.49
Change since picked: + 1.93
Earnings Date 02/01/05 (confirmed)
Average Daily Volume = 10.9 million

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Cheniere Energy - LNG - close: 66.30 chg: -1.06 stop: 72.01

LNG is still drifting lower but keep a close eye on the 100-dma, which could be support near the $64 level.

Picked on March 11 at $ 69.49
Change since picked: - 3.19
Earnings Date 03/10/05 (confirmed)
Average Daily Volume = 517 thousand

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Intl Bus. Mach. - IBM - close: 91.04 chg: +0.34 stop 92.15

IBM failed again at the $92.00 level and its exponential 200-dma. We would still wait and watch for another drop below the $90.00 mark before considering new bearish positions. Don't forget that our time is growing short since we plan to exit before IBM's April earnings report.

Picked on March 17 at $ 89.86
Change since picked: + 1.18
Earnings Date 04/14/05 (unconfirmed)
Average Daily Volume = 4.8 million

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Mcgraw Hill Cos - MHP - close: 88.36 chg: +0.57 stop: 90.21

We're not making much progress on MHP and plan to close it relatively soon if we don't see any follow through to the downside.

Picked on March 15 at $ 88.40
Change since picked: - 0.04
Earnings Date 04/26/05 (unconfirmed)
Average Daily Volume = 751 thousand

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Millipore - MIL - close: 44.48 chg: -0.22 stop: 46.05

No change from previous update. MIL still under the 50-dma.

Picked on March 16 at $ 43.95
Change since picked: + 0.53
Earnings Date 04/19/05 (unconfirmed)
Average Daily Volume = 358 thousand

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Pacificare Health - PHS - close: 59.03 chg: +0.60 stop: 62.01

No change from previous update.

Picked on March 20 at $ 59.04
Change since picked: - 0.01
Earnings Date 04/28/05 (unconfirmed)
Average Daily Volume = 1.1 million

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Toll Brothers - TOL - close: 77.19 chg: -0.08 stop: 81.50

Wow! TOL gapped higher at the open but could not hold on to its gains despite a broker upgrade this morning. Banc of America upgraded TOL to a "buy" this morning with a $100 price target. The lack of reaction to the upgrade could be really good news for bears. We had been expecting an oversold bounce toward the $80.00 level and it's still a possibility but today's weakness or better yet, lack of strength, could be a clue to the rest of the week.

Picked on March 17 at $ 76.81
Change since picked: + 0.36
Earnings Date 02/23/05 (confirmed)
Average Daily Volume = 2.1 million
 

Dropped Calls

Cleveland Cliffs - CLF - cls: 74.56 chg: -2.69 stop: 74.49

CLF tried to bounce this morning but failed at the $78.00 level and then fell quickly from there. The stock broke support at the $75.00 mark and hit our stop loss at $74.49 closing the play. There is still a possibility that CLF could bounce from its 40-dma but we would be careful considering new bullish positions.

Picked on March 21 at $ 77.06
Change since picked: - 2.50
Earnings Date 02/16/05 (confirmed)
Average Daily Volume = 1.2 million

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Parker-Hannifin - PH - close: 59.66 change: -7.89 stop: 63.99

Once again we are reminded about the importance of stop losses! There was no way to know that the company would lower its earnings guidance this morning and the market did not respond kindly. The company lowered estimates from $1.10-1.30 to $1.05-1.15 per share. At least one analyst downgraded the stock on the news and shares fell 11.6 percent. The stock actually gapped lower to open at $65.86 and then proceeded to break support at its simple and exponential 200-dma's, the $65.00 level and its two-month trend of higher lows. We have been stopped out at $63.99.

Picked on March 03 at $ 68.11
Change since picked: - 8.45
Earnings Date 01/18/05 (confirmed)
Average Daily Volume = 1.0 million
 

Dropped Puts

None

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