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Call Updates

Anadarko Petroleum - APC - cls: 75.70 chg: -1.13 stop: 72.45

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

Picked on March 31 at $ 76.10
Change since picked: - 0.40
Earnings Date 04/29/05 (confirmed)
Average Daily Volume = 2.3 million

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Carpenter Tech - CRS - close: 61.58 chg: 0.45 stop: 59.95

No change from previous update on 04/10/05. Our trigger to go long is $64.05. More aggressive players may want to consider today's intraday bounce from the $60.00 level as a new bullish entry point.

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: 71.67 chg: -1.10 stop: 67.99

No change from previous update on 04/10/05. We would definitely wait for a bounce before considering new bullish positions.

Picked on April 03 at $ 73.64
Change since picked: - 1.97
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. We would definitely wait for a bounce before considering new bullish positions.

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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Red Robin Burger - RRGBE - cls: 52.53 chg: -0.95 stop: 49.49

RRGBE hit some profit taking this morning but managed to bounce back some by the close. The company announced that it has received a compliance letter from the NASDAQ and shares will begin trading again under the previous symbol of RRGB on Wednesday. We continue to suggest that readers consider exiting now. Our target is at $54.00.

Picked on March 10 at $ 48.00
Change since picked: 4.63
Earnings Date 02/14/05 (confirmed)
Average Daily Volume = 199 thousand

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Research In Motion - RIMM - cls: 75.40 chg: -0.32 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: 0.000
Earnings Date 04/05/05 (confirmed)
Average Daily Volume = 10.1 million

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Whole Foods - WFMI - close: 101.13 chg: 0.35 stop: 98.99

No change from previous update on 04/10/05. As expected WFMI has tested the $100 level and begun to bounce.

Picked on April 06 at $104.16
Change since picked: - 3.03
Earnings Date 05/03/05 (unconfirmed)
Average Daily Volume = 956 thousand
 

Put Updates

Allergan - AGN - close: 70.83 chg: 0.71 stop: 72.51

No change from previous update on 04/10/05. Conservative traders may want to turn defensive here with the BTK biotech index looking stronger.

Picked on March 13 at $ 73.09
Change since picked: - 2.26
Earnings Date 04/27/05 (confirmed)
Average Daily Volume = 777 thousand

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Beazer Homes - BZH - close: 49.68 chg: 1.52 stop: 51.01*new*

Heads up! The DJUSHB home construction index turned in a very strong session adding 2.99 percent on Tuesday. Shares of BZH outpaced the move with a 3.15 percent rebound toward resistance at the $50.00 level. Thus far BZH remains in its bearish trend of lower highs but if the stock breaks out over the $50.00 level readers may want to exit quickly. We're lowering our stop loss to $51.01.

Picked on March 17 at $ 51.43
Change since picked: - 1.75
Earnings Date 04/28/05 (confirmed)
Average Daily Volume = 742 thousand

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Pacificare Health - PHS - cls: 57.32 chg: 0.26 stop: 60.05

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

Picked on March 20 at $ 59.04
Change since picked: - 1.72
Earnings Date 04/28/05 (confirmed)
Average Daily Volume = 1.1 million

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Starbucks - SBUX - close: 47.95 chg: 0.44 stop: 51.75

No change from previous update on 04/11/05.

Picked on April 10 at $ 48.62
Change since picked: - 0.67
Earnings Date 04/27/05 (confirmed)
Average Daily Volume = 4.3 million

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Wynn Resorts - WYNN - cls: 64.49 chg: 1.95 stop: 68.05

Today's bounce took a big bite out of our paper profits. WYNN added 3.1 percent after Legg Mason started coverage on the stock with a "buy" rating and an $80 price target this morning. So far the short-term bearish trend is still in effect but traders should be cautious. If the stock trades over the $66.00 level more conservative traders may want to exit early to minimize any losses.

Picked on April 03 at $ 66.04
Change since picked: - 1.55
Earnings Date 04/29/05 (unconfirmed)
Average Daily Volume = 1.1 million
 

Dropped Calls

Potash Corp. - POT - close: 85.06 chg: -2.14 stop: 85.99

Something happened late Tuesday morning that caused POT to crash through the $86.50 level and its 50-dma near $86.00 on rising volume. Unfortunately, we cannot find any news item to explain what sparked the sell-off. We have been stopped out at $85.99.

Picked on April 05 at $ 90.18
Change since picked: - 5.12
Earnings Date 04/27/05 (unconfirmed)
Average Daily Volume = 504 thousand
 

Dropped Puts

Intl Bus. Mach. - IBM - close: 85.75 chg: -0.45 stop 90.05

IBM produced another high-volume decline and shares came within 17 cents of our target at the $85.00 level this afternoon. We strongly suggest that readers consider exiting here. Even through IBM did not hit our target at the $85.00 level we're going to close the play early. Traders can choose to keep the play open since IBM is showing so much weakness. Bear in mind that shares of IBM are very short-term oversold and due for a bounce. Earnings are expected on April 18th.

Picked on March 17 at $ 89.86
Change since picked: - 4.11
Earnings Date 04/18/05 (confirmed)
Average Daily Volume = 4.8 million

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Mcgraw Hill Cos - MHP - close: 84.84 chg: -0.80 stop: 88.51

Target achieved! It took longer than we expected but MHP finally broke down under the $85.00 level and traded into our target range of $85.00-84.00. The technical breakdown looks like bad news but MHP did manage a meager bounce from the simple 200-dma this afternoon. We are closing the play per our strategy.

Picked on March 15 at $ 88.40
Change since picked: - 3.56
Earnings Date 04/26/05 (unconfirmed)
Average Daily Volume = 751 thousand

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