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Call Updates

Patterson Cos. - PDCO - close: 50.51 chg: -1.17 stop: 49.45

We have been triggered in PDCO and the play is now open. PDCO is a relative strength play with a strong bullish trend but we suspected the stock could trade lower this week and pull back toward support near $50.00 and its simple 50-dma. Our strategy was to go long (buy calls) on a pull back to $50.75 or lower. That's exactly what happened today. Shares slipped to $50.39 this afternoon and the play was triggered at $50.75. Technically speaking we're a little concerned over the big volume on today's decline and the MACD indicator doesn't look so good. Conservative traders may want to wait for signs of a bounce back over $51.00 or $51.50 before initiating new long positions. Our short-term target is the $55 level.

Picked on April 18 at $ 50.75
Change since picked: - 0.24
Earnings Date 05/19/05 (unconfirmed)
Average Daily Volume = 789 million

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Red Robin Burger - RRGBE - cls: 52.11 chg: +0.11 stop: 49.49

No change from previous update on 04/17/05.

Picked on March 10 at $ 48.00
Change since picked: + 4.11
Earnings Date 02/14/05 (confirmed)
Average Daily Volume = 199 thousand
 

Put Updates

Expeditors Intl Was. - EXPD - cls: 48.63 chg: +0.46 stop: 52.51

No change from previous update on 04/17/05.

Picked on April 14 at $ 49.31
Change since picked: - 0.68
Earnings Date 05/04/05 (unconfirmed)
Average Daily Volume = 748 thousand

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Ishares Russ 2000 Val - IWN - cls: 176.11 chg: +0.98 stop: 183.51

No change from previous update on 04/17/05.

Picked on April 14 at $178.04
Change since picked: - 1.93
Earnings Date 00/00/00 (unconfirmed)
Average Daily Volume = 324 thousand

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Starbucks - SBUX - close: 47.00 chg: -0.34 stop: 51.75

No change from previous update on 04/17/05.

Picked on April 10 at $ 48.62
Change since picked: - 1.62
Earnings Date 04/27/05 (confirmed)
Average Daily Volume = 4.3 million
 

Dropped Calls

None
 

Dropped Puts

None

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