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Call Updates

Avalonbay - AVB - close: 73.00 change: +0.65 stop: 68.49

AVB continues to show relative strength with another gain in spite of the market's losses today. Shares are only a couple of points away from our $75-76 target range. We see no changes from our previous updates on 05/04/05 and 05/01/05.

Picked on April 24 at $ 70.05
Change since picked: + 2.95
Earnings Date 04/21/05 (confirmed)
Average Daily Volume = 345 thousand

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Chubb Corp - CB - close: 82.86 chg: -1.94 stop: 79.49

No surprise here. Yesterday we warned readers to expect a dip in CB as shares were a little overbought. We see no changes from our previous updates on 05/04/05 and 05/01/05. Our target remains the $88-90 range.

Picked on May 01 at $ 81.78
Change since picked: + 1.08
Earnings Date 04/25/05 (confirmed)
Average Daily Volume = 1.2 million

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Golden West Fincl - GDW - close: 64.13 chg: -0.33 stop: 59.95

GDW experienced a little bit of profit taking today. No change from our previous update on 05/04/05. Our target remains at the $66.50 level.

Picked on April 26 at $ 62.55
Change since picked: + 1.58
Earnings Date 04/20/05 (confirmed)
Average Daily Volume = 1.3 million

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Invitrogen - IVGN - close: 76.52 change: +0.78 stop: 71.49

IVGN is still show relative strength. The stock added another one percent today. We see no change from our previous update on 05/03/05.

Picked on May 03 at $ 75.51
Change since picked: + 1.01
Earnings Date 04/28/05 (confirmed)
Average Daily Volume = 888 thousand

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Eli Lilly - LLY - close: 60.44 change: +0.18 stop: 57.49

LLY is showing a little bit of strength despite a down day for the DRG drug index. There are no changes in strategy from our previous update on 05/03/05.

Picked on May 04 at $ 60.15
Change since picked: + 0.29
Earnings Date 04/18/05 (confirmed)
Average Daily Volume = 4.7 million

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Nucor - NUE - close: 52.31 chg: -0.39 stop: 49.95

We remain on the sidelines waiting for NUE to breakout above resistance near $55.00. Our entry point is $55.05.

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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Reynolds American - RAI - cls: 80.52 chg: +0.28 stop: 77.95

Almost but not quite. Shares of RAI rallied to $81.19 on an intraday basis before paring their gains. Our entry point to go long is at $81.31 so we remain on the sidelines. There is no change from our previous update on 05/04/05.

Picked on May xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 04/27/05 (confirmed)
Average Daily Volume = 866 thousand
 

Put Updates

Adobe Systems - ADBE - close: 56.92 chg: -0.63 stop: 60.01

Thursday was another down day for ADBE who under performed both the NASDAQ and the GSO software index. No change from our previous updates. Our target remains the $55.00 region.

Picked on April 26 at $ 59.12
Change since picked: - 2.20
Earnings Date 06/16/05 (unconfirmed)
Average Daily Volume = 3.3 million

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CDW Corp - CDWC - close: 55.79 chg: +0.29 stop: 58.01

We were a little surprised to see CDWC close in the green today given the red across most of the technology sector. Shares of CDWC remain under resistance and we remain bearish. No change in strategy or from our previous update on 05/01/05.

Picked on April 24 at $ 55.68
Change since picked: + 0.11
Earnings Date 04/19/05 (confirmed)
Average Daily Volume = 920 thousand

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Lehman Brothers - LEH - close: 91.10 chg: +0.60 stop: 94.05

The rally may not be quite yet over for LEH but its momentum is stalling. We would expect shares to encounter resistance in the $92.00-92.50 region near its 50-dma before turning lower again.

Picked on April 29 at $ 89.45
Change since picked: + 1.65
Earnings Date 03/15/05 (confirmed)
Average Daily Volume = 2.3 million

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Marriot - MAR - close: 62.11 chg: +0.01 stop: 65.01

There was no follow through on MAR's Wednesday oversold bounce and that's good news for the bears. Our target remains the $60.00-58.00 range.

Picked on April 28 at $ 63.37
Change since picked: - 1.26
Earnings Date 04/21/05 (confirmed)
Average Daily Volume = 1.2 million

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PACCAR Inc - PCAR - close: 67.09 change: -0.03 stop: 70.01

PCAR spent Thursday's session trading sideways. Thus there is no change from our previous update on 05/03/05.

Picked on April 27 at $ 66.45
Change since picked: + 0.64
Earnings Date 04/26/05 (confirmed)
Average Daily Volume = 1.0 million

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Parker Hannifin - PH - close: 60.09 change: -1.52 stop: 62.01

As we expected shares of PH reversed under resistance near the $62 level. The stock completely erased Wednesday's gains. Readers can use today's weakness as a new bearish entry point although more conservative traders might feel better waiting for PH to trade back under the $59.00 level before initiating positions. After the closing bell PH announced it had signed a new distribution agreement with Aviation Power & Marine but we do not believe this will affect the stock price of PH.

Picked on April 28 at $ 59.08
Change since picked: + 1.01
Earnings Date 04/18/05 (confirmed)
Average Daily Volume = 1.2 million
 

Dropped Calls

None
 

Dropped Puts

Infosys Tech. - INFY - close: 61.19 chg: +1.64 stop: 60.26

It would appear that our caution was warranted. INFY did indeed pop above the $60.00 resistance level and shares ran to an intraday high of $62.32 before fading. The stock does still have technical resistance at its simple and exponential 200-dma's overhead. Meanwhile we were quickly stopped out at $60.26 shortly after the opening bell.

Picked on April 26 at $ 58.24
Change since picked: + 2.95
Earnings Date 04/14/05 (confirmed)
Average Daily Volume = 504 thousand
 

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