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Call Updates

Carpenter Tech - CRS - close: 60.62 chg: -0.96 stop: 59.95

No change from previous update on 04/10/05. Our trigger to go long is $64.05.

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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KB Home - KBH - cls: 121.10 chg: -1.81 stop: 117.00

No change from previous update on 04/12/05.

Picked on April 12 at $122.91
Change since picked: - 1.81
Earnings Date 03/21/05 (confirmed)
Average Daily Volume = 1.4 million

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Red Robin Burger - RRGBE - cls: 51.19 chg: -1.34 stop: 49.49

RRGB began trading today under its old symbol again. The stock dipped toward the $50.00 level before bouncing this afternoon. Readers can use the bounce as a new bullish entry point but we would confirm that market direction is positive before initiating new longs.

Picked on March 10 at $ 48.00
Change since picked: + 3.29
Earnings Date 02/14/05 (confirmed)
Average Daily Volume = 199 thousand

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Research In Motion - RIMM - cls: 74.55 chg: -0.85 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: 100.12 chg: -0.61 stop: 98.99

No change from previous update on 04/10/05. Look for signs of a bounce and move back over $102 or $103 before initiating new long positions.

Picked on April 06 at $104.16
Change since picked: - 3.64
Earnings Date 05/03/05 (unconfirmed)
Average Daily Volume = 956 thousand
 

Put Updates

Allergan - AGN - close: 70.55 chg: -0.28 stop: 72.51

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

Picked on March 13 at $ 73.09
Change since picked: - 2.54
Earnings Date 04/27/05 (confirmed)
Average Daily Volume = 777 thousand

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Beazer Homes - BZH - close: 48.10 chg: -1.58 stop: 51.01

No change from previous update on 04/12/05 and 04/10/05.

Picked on March 17 at $ 51.43
Change since picked: - 3.33
Earnings Date 04/28/05 (confirmed)
Average Daily Volume = 742 thousand

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Pacificare Health - PHS - cls: 56.05 chg: -1.27 stop: 60.05

No change from previous update on 04/10/05. PHS is nearing our profit target in the $55.00-54.00 range.

Picked on March 20 at $ 59.04
Change since picked: - 2.99
Earnings Date 04/28/05 (confirmed)
Average Daily Volume = 1.1 million

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Starbucks - SBUX - close: 47.11 chg: -0.84 stop: 51.75

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

Picked on April 10 at $ 48.62
Change since picked: - 1.51
Earnings Date 04/27/05 (confirmed)
Average Daily Volume = 4.3 million

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Wynn Resorts - WYNN - cls: 64.77 chg: +0.28 stop: 68.05

No change from our previous update on 04/12/05 and 04/10 but it is worth noting that WYNN traded toward its 100-dma overhead and failed. This is the second failed rally at the 100-dma in a week.

Picked on April 03 at $ 66.04
Change since picked: - 1.27
Earnings Date 04/29/05 (unconfirmed)
Average Daily Volume = 1.1 million
 

Dropped Calls

Anadarko Petroleum - APC - cls: 74.25 chg: -1.45 stop: 72.49

We were very tempted to hold on to APC. The stock is holding up better than many of its peers in the oil sector. Unfortunately, with the OIX and OSX sector indices breaking down it seems foolish to hold on to APC even through crude oil prices have fallen back toward what could be strong, psychological support at the $50.00 a barrel level. We would not be surprised to see an oversold bounce in crude and APC soon but we're going to exit here anyway to minimize our losses.

Picked on March 31 at $ 76.10
Change since picked: - 1.85
Earnings Date 04/29/05 (confirmed)
Average Daily Volume = 2.3 million

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Occidental Petrol. - OXY - cls: 68.58 chg: -3.09 stop: 67.99

Uh-oh! This looks like bad news for OXY bulls. The stock is under performing the OIX and OSX oil indices. We were expecting the $70.00 level to act as round-number, psychological support. Barring that the simple 50-dma should have acted as support and OXY has broken through both of these levels on big volume. We're not stopped out yet but it looks like OXY will continue lower tomorrow.

Picked on April 03 at $ 73.64
Change since picked: - 5.06
Earnings Date 04/26/05 (confirmed)
Average Daily Volume = 2.4 million

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Oil Service Holdrs - OIH - cls: 92.56 chg: -2.34 stop: 92.49

The OIH holders also gave up ground with the OSX index losing 2.4 percent. The breakdown in the OIH under the $94 level and its simple 50-dma suggests a deeper correction in the works. We would expect the OIH to trade toward the $90.00 mark and its rising 100-dma.

Picked on April 03 at $ 98.70
Change since picked: - 6.14
Earnings Date 00/00/00 (unconfirmed)
Average Daily Volume = 3.9 million
 

Dropped Puts

None
 

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