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Call Updates

Avalonbay - AVB - close: 71.98 change: -0.02 stop: 67.49

No change from our previous update on 05/01/05.

Picked on April 24 at $ 70.05
Change since picked: 1.93
Earnings Date 04/21/05 (confirmed)
Average Daily Volume = 345 thousand

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Chubb Corp - CB - close: 81.47 chg: -0.31 stop: 77.49

No change from our previous update on 05/01/05.

Picked on May 01 at $ 81.78
Change since picked: - 0.31
Earnings Date 04/25/05 (confirmed)
Average Daily Volume = 1.2 million

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Golden West Fincl - GDW - close: 63.17 chg: 0.84 stop: 59.95

No change from our previous update on 05/01/05.

Picked on April 26 at $ 62.55
Change since picked: 0.62
Earnings Date 04/20/05 (confirmed)
Average Daily Volume = 1.3 million

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Nucor - NUE - close: 51.10 chg: 1.33 stop: 49.95

No change from our previous update on 05/01/05. Our current trigger to go long is at $55.05 but more aggressive traders might want to consider longs if NUE pushes above the $52.50 level.

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: 52.85 chg: -0.20 stop: 49.49

No change from our previous update on 05/01/05. Shares of WBSN tested overhead resistance at the $54.00 level early this morning. Our target is the $59.00-60.00 range.

Picked on April 27 at $ 52.85
Change since picked: 0.00
Earnings Date 04/26/05 (confirmed)
Average Daily Volume = 751 thousand
 

Put Updates

Adobe Systems - ADBE - close: 57.15 chg: -2.32 stop: 60.26*new*

Shares of ADBE produced some excitement on Monday. The stock started the day higher and traded above the $60.00 mark before quickly turning around. Shares sank toward a new two-week low as investors sold ADBE in a knee-jerk reaction to news of competition from Microsoft. Evidently MSFT's next operating system will have certain features that will compete with Adobe's Acrobat and PDF e-paper products. More than one analyst came out midday to defend ADBE suggesting it will take years before MSFT will become serious competition in this space. ADBE managed to stem the bleeding today near its simple 200-dma. We are lowering the stop loss to $60.26.

Picked on April 26 at $ 59.12
Change since picked: - 1.97
Earnings Date 06/16/05 (unconfirmed)
Average Daily Volume = 3.3 million

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CDW Corp - CDWC - close: 54.86 chg: 0.17 stop: 58.01

No change from our previous update on 05/01/05.

Picked on April 24 at $ 55.68
Change since picked: - 0.82
Earnings Date 04/19/05 (confirmed)
Average Daily Volume = 920 thousand

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Infosys Tech. - INFY - close: 58.42 chg: -0.78 stop: 62.51

INFY displayed some relative weakness today with another 1.3 percent decline. The move is probably somewhat fueled by a two percent drop in Indian markets today. In the news there was a note that INFY raised its current year earnings forecast by a small amount but the adjustment is only due to a change in accounting procedure. We see no changes from our previous update on 05/01/05. Readers can still expect INFY to make a run towards the $60.00 level before turning lower.

Picked on April 26 at $ 58.24
Change since picked: 0.18
Earnings Date 04/14/05 (confirmed)
Average Daily Volume = 504 thousand

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Lehman Brothers - LEH - close: 88.45 chg: -3.27 stop: 94.05

The XBD broker-dealer index was one of the worst performers on Monday with a 1.9 percent decline after UBS downgraded the sector from a "buy" to a "neutral". UBS is concerned about the brokerage sector's prospects over the next three to six months where they see "limited upside for stocks" (-CBSMW). UBS also downgraded Goldman Sachs, Merrill Lynch and Lehman Brothers from "buy" to "neutral". Meanwhile Morgan Stanley also downgraded Goldman Sachs and Lehman Brothers from "over weight" to "equal weight". Volume on LEH's 3.5 percent decline was very strong at almost three times the norm, which suggests more weakness ahead. Our target is the $86-85 level.

Picked on April 29 at $ 89.45
Change since picked: - 1.00
Earnings Date 03/15/05 (confirmed)
Average Daily Volume = 2.3 million

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Marriot - MAR - close: 61.30 chg: -1.45 stop: 65.01 *new*

MAR displayed even more relative weakness on Monday with a fresh 2.3 percent decline on volume even higher than Friday's. The stock is now at a new three-month low. We are lowering our stop loss to $65.01. Our target is the $60-58 range.

Picked on April 28 at $ 63.37
Change since picked: - 2.07
Earnings Date 04/21/05 (confirmed)
Average Daily Volume = 1.2 million

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PACCAR Inc - PCAR - close: 69.14 change: 1.24 stop: 70.01

Red alert! PCAR produced a 1.8 percent rally on Monday and closed over its exponential 200-dma. The stock is very close to overhead resistance at the $70.00 mark and its simple 200-dma. In the news today PCAR announced that its Board of Directors had approved the repatriation of $1.5 billion in profits. Bears need to see resistance at the $70 level hold. We are concerned because PCAR has closed above its two-month trendline of resistance. We are not suggesting new bearish positions and more conservative traders may want to exit now to avoid further losses. More aggressive traders may want to adjust their stop loss above the minor resistance level at $70.40.

Picked on April 27 at $ 66.45
Change since picked: 2.69
Earnings Date 04/26/05 (confirmed)
Average Daily Volume = 1.0 million

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Parker Hannifin - PH - close: 60.08 change: 0.14 stop: 62.01

As expected shares of PH failed to breakout over resistance in the $61.50-62.00 range. We see no other changes from our previous update on 05/01/05.

Picked on April 28 at $ 59.08
Change since picked: 1.00
Earnings Date 04/18/05 (confirmed)
Average Daily Volume = 1.2 million
 

Dropped Calls

None
 

Dropped Puts

None

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