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Call Updates

Avalonbay - AVB - close: 71.02 change: -0.40 stop: 67.49

No change from our previous update on 04/26/05 and 04/24/05 although if the markets continues to fall tomorrow we would expect a dip toward the $70.00 level and its 100-dma. Our target remains the $75-76 range.

Picked on April 24 at $ 70.05
Change since picked: + 0.97
Earnings Date 04/21/05 (confirmed)
Average Daily Volume = 345 thousand

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Golden West Fincl - GDW - close: 62.26 chg: -1.40 stop: 59.95

Yuck! GDW has erased all of Wednesday's gain. If the market continues south tomorrow we'd expect GDW to pace the decline. Look for the $60-61 region to act as support. No change from our previous updates.

Picked on April 26 at $ 62.55
Change since picked: - 0.29
Earnings Date 04/20/05 (confirmed)
Average Daily Volume = 1.3 million

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Nucor - NUE - close: 49.77 chg: -0.61 stop: 49.95

Today's GDP numbers could be the turning point we alluded to yesterday. NUE's midday bounce quickly failed and all signs appear to be pointing to another leg lower for NUE. Shares have not quite broken the 200-dma just yet so we're keeping NUE on the play list but our trigger to go long is still at $55.05. Per our comments yesterday readers may want to switch directions and buy puts on NUE if the stock trades into the $49.00-48.50 range.

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

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Websense - WBSN - close: 51.60 chg: -1.25 stop: 49.49

No change from our previous update on 04/27/05. Look for a dip to and bounce from the $50.00 region as a potential bullish entry point.

Picked on April 27 at $ 52.85
Change since picked: - 1.25
Earnings Date 04/26/05 (confirmed)
Average Daily Volume = 751 thousand
 

Put Updates

Adobe Systems - ADBE - close: 58.47 chg: +0.02 stop: 61.51

We're a little surprised by the relative strength in ADBE today but shares struggled under the $59.00 level and the bounce was fading by the afternoon. No change from our previous updates 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

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CDW Corp - CDWC - close: 53.86 chg: -1.65 stop: 58.01

Another tough day for tech stocks hit CDWC pretty hard. Shares lost 2.97 percent to under perform most of its peers. Our target remains the $50.00 region.

Picked on April 24 at $ 55.68
Change since picked: - 1.82
Earnings Date 04/19/05 (confirmed)
Average Daily Volume = 920 thousand

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Infosys Tech. - INFY - close: 57.48 chg: +0.88 stop: 62.51

Hmm... we're a little perplexed by the sudden show of strength in INFY. Granted the stock was oversold and due for a bounce but given the sell-off in tech and software issues today we would have expected INFY to help lead the way lower. It's very possible that INFY was reacting to a late day bounce in the Indian markets today (INFY is based in India). Look for the $60.00 level to act as resistance and use a failed rally under $60.00 as a new bearish entry point.

Picked on April 26 at $ 58.24
Change since picked: - 0.76
Earnings Date 04/14/05 (confirmed)
Average Daily Volume = 504 thousand

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Lehman Brothers - LEH - close: 91.63 chg: -1.73 stop: 92.51

No change from our previous updates on 04/24/05 and 04/27/05. Our trigger to buy puts is at $89.45.

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

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PACCAR Inc - PCAR - close: 66.81 change: -0.46 stop: 70.01

No change from our previous update on 04/27/05.

Picked on April 27 at $ 66.45
Change since picked: + 0.36
Earnings Date 04/26/05 (confirmed)
Average Daily Volume = 1.0 million
 

Dropped Calls

Patterson Cos. - PDCO - close: 50.07 chg: -0.54 stop: 49.75

Early morning weakness on the economic news was enough to send PDCO under support at the $50.00 mark and its 50-dma. Shares did manage to bounce near the lows from last week and rebound back over the $50 level but the damage is done. PDCO hit our stop loss at $49.75 so the play is closed. If PDCO trades under the $49.00 level we might consider bearish positions.

Picked on April 18 at $ 50.75
Change since picked: - 0.68
Earnings Date 05/19/05 (unconfirmed)
Average Daily Volume = 789 million
 

Dropped Puts

None

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