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Call Updates

Anadarko Petroleum - APC - cls: 76.83 chg: +0.57 stop: 72.45

No change from previous update on 04/10/05. Oil stocks rebounded today and APC bounced from the $75.50 level. Traders could use this as a new bullish entry point but we would look for confirmation of the bounce with a new move over $78.50 before going long. APC also confirmed its earnings date for April 29th.

Picked on March 31 at $ 76.10
Change since picked: + 0.73
Earnings Date 04/29/05 (confirmed)
Average Daily Volume = 2.3 million

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Carpenter Tech - CRS - close: 61.13 chg: -0.55 stop: 59.95

No change from previous update on 04/10/05. Our trigger to go long is $64.05. CRS confirmed its earnings date as April 25th.

Picked on April xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 04/25/05 (confirmed)
Average Daily Volume = 334 thousand

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Occidental Petrol. - OXY - cls: 72.77 chg: +0.55 stop: 67.99

No change from previous update on 04/10/05.

Picked on April 03 at $ 73.64
Change since picked: - 0.87
Earnings Date 04/26/05 (confirmed)
Average Daily Volume = 2.4 million

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Oil Service Holdrs - OIH - cls: 96.85 chg: +0.85 stop: 92.49

No change from previous update on 04/10/05. The OIH is bouncing from the 50-dma near the $95.00 level as expected.

Picked on April 03 at $ 98.70
Change since picked: - 1.85
Earnings Date 00/00/00 (unconfirmed)
Average Daily Volume = 3.9 million

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Potash Corp. - POT - close: 87.20 chg: -1.19 stop: 85.99

Uh-oh! Bulls need to be careful here. POT has broken down under minor support at the $88.00 level and looks headed for a test of the 50-dma near $86.00. We would not suggest new bullish positions at this time.

Picked on April 05 at $ 90.18
Change since picked: - 2.98
Earnings Date 04/27/05 (unconfirmed)
Average Daily Volume = 504 thousand

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Red Robin Burger - RRGBE - cls: 53.58 chg: +0.99 stop: 49.49

Good news! RRGBE continues to out perform the markets. The stock added another 1.88 percent on above average volume after raising its Q1 outlook this morning. We are suggesting readers consider exiting now. Our profit target is the $54.00 level and we will exit at the $54.00 mark but you, the reader, can beat the crowd and exit now or anywhere near $54.

Picked on March 10 at $ 48.00
Change since picked: + 5.58
Earnings Date 02/14/05 (confirmed)
Average Daily Volume = 199 thousand

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Research In Motion - RIMM - cls: 75.72 chg: -1.50 stop: 72.49

No change from previous update on 04/10/05. Our trigger to go long is $78.25.

Picked on April xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 04/05/05 (confirmed)
Average Daily Volume = 10.1 million

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Whole Foods - WFMI - close: 100.78 chg: -1.30 stop: 98.99

No change from previous update on 04/10/05. WFMI continues to consolidate lower toward the $100 mark and its 50-dma.

Picked on April 06 at $104.16
Change since picked: - 3.38
Earnings Date 05/03/05 (unconfirmed)
Average Daily Volume = 956 thousand
 

Put Updates

Allergan - AGN - close: 70.12 chg: -0.50 stop: 72.51

No change from previous update on 04/10/05.

Picked on March 13 at $ 73.09
Change since picked: - 2.97
Earnings Date 04/27/05 (confirmed)
Average Daily Volume = 777 thousand

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Beazer Homes - BZH - close: 48.16 chg: +0.12 stop: 51.51

No change from previous update on 04/10/05. BZH is still near our target range of 48.00-46.50.

Picked on March 17 at $ 51.43
Change since picked: - 3.27
Earnings Date 04/28/05 (confirmed)
Average Daily Volume = 742 thousand

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Intl Bus. Mach. - IBM - close: 86.20 chg: -1.40 stop 90.05*new*

Cautious comments and a reduction in IBM's Q1 revenue estimates from Prudential helped send IBM to a 1.59 percent decline on volume almost twice the normal on Monday. The stock is looking more and more oversold and due for a bounce. The good news is that IBM is nearing our target in the $85.00 region. Short-term traders, especially any who entered on the failed rally near $92, may actually want to consider exiting now for a quick profit to avoid any bounce. We are lowering our stop loss to $90.05.

Picked on March 17 at $ 89.86
Change since picked: - 3.66
Earnings Date 04/18/05 (confirmed)
Average Daily Volume = 4.8 million

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Mcgraw Hill Cos - MHP - close: 85.64 chg: -0.40 stop: 88.51

No change from previous update on 04/10/05.

Picked on March 15 at $ 88.40
Change since picked: - 2.76
Earnings Date 04/26/05 (unconfirmed)
Average Daily Volume = 751 thousand

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Pacificare Health - PHS - cls: 57.06 chg: -0.44 stop: 60.05

No change from previous update on 04/10/05.

Picked on March 20 at $ 59.04
Change since picked: - 1.98
Earnings Date 04/28/05 (confirmed)
Average Daily Volume = 1.1 million

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Starbucks - SBUX - close: 47.51 chg: -1.11 stop: 51.75

Shares of SBUX produced another high-volume decline on Monday. We do not believe it is related to the news that SBUX purchased privately held Ethos Water today. Instead today's decline merely looks like follow through on Friday's breakdown. It is worth noting that SBUX bounced from its lows near $46.44 and odds are we can thank Goldman Sachs for that. GS came out with positive comments on SBUX suggesting the recent weakness may be a bullish entry point. We remain bearish and target the $45.00-44.00 range.

Picked on April 10 at $ 48.62
Change since picked: - 1.11
Earnings Date 04/27/05 (confirmed)
Average Daily Volume = 4.3 million

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Wynn Resorts - WYNN - cls: 62.54 chg: -0.59 stop: 68.05

No change from previous update on 04/10/05.

Picked on April 03 at $ 66.04
Change since picked: - 3.50
Earnings Date 04/29/05 (unconfirmed)
Average Daily Volume = 1.1 million
 

Dropped Calls

PalmOne - PLMO - close: 24.37 chg: +0.10 stop: 23.85

We are really not surprised here. PLMO has been hinting at a breakdown for the last few days and thus our recent cautious comments. We had been expecting the $24.00 level and the 40 and 50-dma's to act as support. Shares of PLMO pierced all three of these levels intraday and traded to $23.63 before rebounding. We've been stopped out at $23.85.

Picked on March 23 at $ 25.71
Change since picked: - 1.34
Earnings Date 03/17/05 (confirmed)
Average Daily Volume = 3.2 million
 

Dropped Puts

None

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