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Call Updates

Anadarko Petroleum - APC - cls: 78.72 chg: +0.52 stop: 72.45

Another new all-time high for crude oil helped push APC to an early lead this morning. Unfortunately, APC couldn't hold on to most of its gains but the stock was bouncing higher by the afternoon. Technicals remain positive. Yet there is some talk that oil could pull back this week. If that does occur we'd look for APC to retreat to the $75-76 levels, which should act as short-term support. A bounce from $75-76 could be used as a new bullish entry point.

Picked on March 31 at $ 76.10
Change since picked: + 2.62
Earnings Date 04/29/05 (unconfirmed)
Average Daily Volume = 2.3 million

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Occidental Petrol. - OXY - cls: 73.64 chg: +0.00 stop: 67.99

OXY didn't move much today as shares tested the $75.00 level as overhead resistance. It is worth nothing that volume was pretty strong. That's actually a negative. Big volume without any movement could mean some investors are liquidating their positions. Be on the look out for a dip back toward the $70-71 levels, which should act as support.

Picked on April 03 at $ 73.64
Change since picked: + 0.00
Earnings Date 04/26/05 (confirmed)
Average Daily Volume = 2.4 million

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Oil Service Holdrs - OIH - cls: 97.85 chg: -0.85 stop: 92.49

A new all-time high for crude oil this morning helped push the OIH up over the $100 level. Unfortunately for crude it couldn't hold its gains and the OIH followed crude lower. If the OIH does dip we'll look for a bounce from the $95 level. We do note that the MACD buy signal looks stronger today.

Picked on April 03 at $ 98.70
Change since picked: - 0.85
Earnings Date 00/00/00 (unconfirmed)
Average Daily Volume = 3.9 million

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PalmOne - PLMO - close: 25.39 chg: +0.25 stop: 23.25

No change from previous update dated (04/03/05).

Picked on March 23 at $ 25.71
Change since picked: - 0.32
Earnings Date 03/17/05 (confirmed)
Average Daily Volume = 3.2 million

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Red Robin Burger - RRGB - cls: 49.46 chg: -0.11 stop: 47.85

No change from previous update dated (04/03/05).

Picked on March 10 at $ 48.00
Change since picked: + 1.46
Earnings Date 02/14/05 (confirmed)
Average Daily Volume = 199 thousand
 

Put Updates

Allergan - AGN - close: 69.07 chg: -0.40 stop: 72.51

AGN continues to sink. We are prepared to exit at $67.50.

Picked on March 13 at $ 73.09
Change since picked: - 4.02
Earnings Date 04/29/05 (unconfirmed)
Average Daily Volume = 777 thousand

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Beazer Homes - BZH - close: 50.90 chg: +0.51 stop: 53.01

BZH did manage a bounce today pacing the rebound in the home construction sector index. However, the rally in BZH was beginning to fade in the late afternoon, which keeps the stock within the current trend of lower highs.

Picked on March 17 at $ 51.43
Change since picked: - 0.53
Earnings Date 04/28/05 (confirmed)
Average Daily Volume = 742 thousand

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Intl Bus. Mach. - IBM - close: 90.32 chg: -0.12 stop 92.15

No change from previous update dated (04/03/05).

Picked on March 17 at $ 89.86
Change since picked: + 0.46
Earnings Date 04/14/05 (unconfirmed)
Average Daily Volume = 4.8 million

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Invitrogen - IVGN - close: 68.80 chg: +1.16 stop: 70.15

We would use today's bounce as a new entry point for puts.
No change from previous update dated (04/03/05).

Picked on April 03 at $ 67.64
Change since picked: + 1.16
Earnings Date 04/21/05 (unconfirmed)
Average Daily Volume = 848 thousand

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MGM Mirage - MGG - close: 70.38 chg: -0.44 stop: 72.51

MGG began to breakdown this morning but had rallied back above the $70.00 level by late afternoon. It appears that we can thank JP Morgan for MGG's strength. The broker came out with positive comments defending the stock suggesting investors buy MGG on any weakness. We're going to stick by our strategy for now and if MGG trades at $68.75 or lower we would buy puts with a $62.00-62.50 target for MGG. However, the company just announced today that its earnings date would be April 19th and that gives us much less time than anticipated. More conservative traders may want to sit this one out.

Picked on March xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 04/19/05 (confirmed)
Average Daily Volume = 997 thousand

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Mcgraw Hill Cos - MHP - close: 86.69 chg: +0.66 stop: 88.51

No change from previous update dated (04/03/05).

Picked on March 15 at $ 88.40
Change since picked: - 1.71
Earnings Date 04/26/05 (unconfirmed)
Average Daily Volume = 751 thousand

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Millipore - MIL - close: 42.60 chg: -0.24 stop: 45.05

No change from previous update dated (04/03/05).

Picked on March 16 at $ 43.95
Change since picked: - 1.36
Earnings Date 04/21/05 (confirmed)
Average Daily Volume = 358 thousand

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Pacificare Health - PHS - cls: 56.40 chg: +0.05 stop: 60.05

No change from previous update dated (04/03/05).

Picked on March 20 at $ 59.04
Change since picked: - 2.64
Earnings Date 04/28/05 (confirmed)
Average Daily Volume = 1.1 million

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Retail Holdrs - RTH - close: 92.01 chg: +0.88 stop: 96.51

Red Alert! We're getting some weird readings on our Qcharts for the RTH. The stock appears to have gapped down but the change for the day is plus 88 cents. Double-checking with stockcharts we see the same chart with all the values about $1.50 less. This looks like there was some sort of adjustment made to the RTH values but the HOLDRS.com website doesn't have any news on it. We suggest that traders step back and not initiate any new positions for the time being.

Picked on April 03 at $ 94.13** Needs to be adjusted.
Change since picked: + 0.88
Earnings Date 00/00/00 (unconfirmed)
Average Daily Volume = 1.6 million

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Wynn Resorts - WYNN - cls: 63.67 chg: -2.37 stop: 70.05

Good news! WYNN is continuing to breakdown with another 3.58 percent decline today in spite of a broker starting coverage on the stock with an "out perform" rating. Volume was very strong on today's decline suggesting more weakness ahead.

Picked on April 03 at $ 66.04
Change since picked: - 2.37
Earnings Date 04/29/05 (unconfirmed)
Average Daily Volume = 1.1 million
 

Dropped Calls

None
 

Dropped Puts

Google Inc - GOOG - close: 185.29 chg: +5.25 stop: 185.01

The INX Internet index put in a strong session adding 1.7 percent. The move was partially fueled by a big rebound in GOOG. Shares of GOOG climbed 2.9 percent to breakout over the $185.00 level and its simple 100-dma. We cannot find any specific news to account for the bounce but it could be traders trying to positions themselves ahead of GOOG's April earnings report. Our high-risk, aggressive play is stopped out at $185.01.

Picked on March 10 at $179.49
Change since picked: + 5.80
Earnings Date 04/21/05 (unconfirmed)
Average Daily Volume = 10.9 million
 

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