Option Investor
Play Updates

In Play Updates and Reviews

HAVING TROUBLE PRINTING?
Printer friendly version

Call Updates

Avalonbay - AVB - close: 71.42 change: +0.90 stop: 67.49

Traders bought the dip toward $70.00 this morning. Today's bounce looks like another bullish entry point. No change from our previous update on 04/26/05 and 04/24/05. Our target remains the $75-76 range.

Picked on April 24 at $ 70.05
Change since picked: + 1.37
Earnings Date 04/21/05 (confirmed)
Average Daily Volume = 345 thousand

---

Golden West Fincl - GDW - close: 63.66 chg: +1.31 stop: 59.95

Banking stocks bounced pretty well today and helped lead the market's advance. Shares of GDW outperformed most of its peers with a 2.1 percent climb. More importantly GDW helped confirm the recent breakout over resistance. The company also announced a quarterly cash dividend of 6 cents per share payable on June 10th.

Picked on April 26 at $ 62.55
Change since picked: + 1.11
Earnings Date 04/20/05 (confirmed)
Average Daily Volume = 1.3 million

---

Nucor - NUE - close: 50.38 chg: -1.22 stop: 49.95

Commodity-related stocks are having trouble lately as investors worry about a slow down in the economy. Tomorrow morning's GDP report could prove to be a turning point for NUE. How investors respond to the GDP number could send NUE bouncing from support at the $50.00 level and its 200-dma or it could send NUE breaking down. We are still on the sidelines waiting for NUE to trade at our trigger of $55.05. More aggressive traders may want to consider going long here on a bounce from $50.00. If the GDP number is bad then nimble traders could open put plays on a breakdown below $49.00-48.50.

Picked on April xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 04/21/05 (confirmed)
Average Daily Volume = 3.3 million

---

Patterson Cos. - PDCO - close: 50.61 chg: +0.16 stop: 49.75

No change from our previous update on 04/26/05.

Picked on April 18 at $ 50.75
Change since picked: - 0.14
Earnings Date 05/19/05 (unconfirmed)
Average Daily Volume = 789 million
 

Put Updates

Adobe Systems - ADBE - close: 58.45 chg: -0.67 stop: 61.51

A couple of press releases and a new "out perform" rating were not enough to lift shares of ADBE today. The company announced that its Creative Suite 2 and its Photoshop CS2 are now shipping. Meanwhile CIBC started coverage on ADBE with an "out perform". We see no change from our previous update on 04/26/05.

Picked on April 26 at $ 59.12
Change since picked: - 0.67
Earnings Date 06/16/05 (unconfirmed)
Average Daily Volume = 3.3 million

---

CDW Corp - CDWC - close: 55.51 chg: -0.37 stop: 58.01

CDWC continues to show relative weakness. No change from our previous updates on 04/26/05 and 04/24/05.

Picked on April 24 at $ 55.68
Change since picked: - 0.17
Earnings Date 04/19/05 (confirmed)
Average Daily Volume = 920 thousand

---

Infosys Tech. - INFY - close: 56.60 chg: -1.64 stop: 62.51

INFY continues to show relative weakness and lost another 2.8 percent today on big volume. Traders should prepare for a possible oversold bounce at the $55.00 level but we would only see it as a speed bump on the way down. No change from our previous update on 04/26/05.

Picked on April 26 at $ 58.24
Change since picked: - 1.64
Earnings Date 04/14/05 (confirmed)
Average Daily Volume = 504 thousand

---

Lehman Brothers - LEH - close: 93.36 chg: +1.25 stop: 92.51

The financials rallied pretty broadly today and shares of LEH bounced from its 100-dma near $91. We are still on the sidelines waiting for LEH to breakdown and hit our trigger at $89.45. Until then we're just spectators. If LEH trades over $94 we'll probably drop this play. If LEH trades over resistance at $96 readers may want to consider bullish positions.

Picked on April xx at $ xx.xx <-- see TRIGGER
Change since picked: - 0.00
Earnings Date 03/15/05 (confirmed)
Average Daily Volume = 2.3 million

---

PACCAR Inc - PCAR - close: 67.27 change: +0.09 stop: 70.01

Ding! PCAR has hit our trigger/entry point to buy puts. The stock continued trading lower this morning and dipped to $66.12 before traders bought the dip. The stock got a boost from an analyst who upgraded PCAR to a "buy" with an $85 target. Fortunately the rally began to fade under the $68 level this afternoon. We are still bearish and traders who missed this morning's entry can look for another drop under $66.50 or $66.00 as a new bearish entry point.

Picked on April 27 at $ 66.45
Change since picked: + 0.82
Earnings Date 04/26/05 (confirmed)
Average Daily Volume = 1.0 million
 

Dropped Calls

None
 

Dropped Puts

None

Play Update Archives