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Call Updates

Avalonbay - AVB - close: 74.40 change: +0.18 stop: 71.99

AVB continues to inch closer to our target in the $75-76 range. Prepare to exit. More conservative traders can seriously consider exiting now.

Picked on April 24 at $ 70.05
Change since picked: + 4.35
Earnings Date 04/21/05 (confirmed)
Average Daily Volume = 345 thousand

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Chubb Corp - CB - close: 82.87 chg: +0.22 stop: 79.99*new*

Hmm... CB gapped lower this morning after announcing that it had received a subpoena from a U.S. attorney for an investigation into finite risk insurance. The stock did rally back to close positive but traders should be cautious here. We are raising our stop loss to $79.99.

Picked on May 01 at $ 81.78
Change since picked: + 1.09
Earnings Date 04/25/05 (confirmed)
Average Daily Volume = 1.2 million

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Coventry Hlth Care - CVH - close: 68.20 chg: -0.53 stop: 66.99

No change. CVH drifted lower toward technical support at its 50-dma on Wednesday. We remain on the sidelines waiting for shares to breakout over the $70.00 level and hit our trigger at $70.51.

Picked on May xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 05/03/05 (confirmed)
Average Daily Volume = 973 thousand

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Golden West Fincl - GDW - close: 63.06 chg: -0.10 stop: 60.95

We remain concerned over the short-term direction for the financial stocks. Yes, most of them managed a rebound from Wednesday's earlier losses but the very short-term trend is discouraging. We're not suggesting new bullish plays in GDW even through the stock did bounce from the $62 level.

Picked on April 26 at $ 62.55
Change since picked: + 0.57
Earnings Date 04/20/05 (confirmed)
Average Daily Volume = 1.3 million

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Hovnanian - HOV - close: 53.98 chg: +0.56 stop: 49.99

The housing sector was one of the better performing sectors today and HOV paced the intraday rebound as well. We see no change from our previous update on 05/10/05 and 05/08/05.

Picked on May 06 at $ 54.26
Change since picked: - 0.28
Earnings Date 03/02/05 (confirmed)
Average Daily Volume = 1.2 million

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Invitrogen - IVGN - close: 76.97 change: +0.45 stop: 71.49

No change in strategy for IVGN. The stock notched another new relative high today. Our target is the $80.00 level.

Picked on May 03 at $ 75.51
Change since picked: + 1.46
Earnings Date 04/28/05 (confirmed)
Average Daily Volume = 888 thousand

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Eli Lilly - LLY - close: 58.75 change: -0.38 stop: 57.49

No surprises yet. We've been expecting a pull back toward the $59-58 levels and LLY traded to $58.23 this morning before bouncing. Today's low was very close to the exponential 200-dma. Its simple 200-dma is closer to the $57.50 level. More aggressive types might want to consider new bullish positions on a move over $59.00. We would suggest waiting for a new move above the $60.00 mark before initiating new positions.

Picked on May 04 at $ 60.15
Change since picked: - 1.40
Earnings Date 04/18/05 (confirmed)
Average Daily Volume = 4.7 million

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Reynolds American - RAI - cls: 78.82 chg: -0.30 stop: 77.95

We're still in limbo here. RAI is oscillating around the $79 level. We are waiting for shares to trade at $81.31 before going long.

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

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Research In Motion - RIMM - cls: 71.14 chg: +0.42 stop: 66.85

RIMM continues to show relative strength. We see no change from our previous update on 05/10/05.

Picked on May 10 at $ 70.51
Change since picked: + 0.63
Earnings Date 04/05/05 (confirmed)
Average Daily Volume = 1.7 million
 

Put Updates

L-3 Comm. - LLL - close: 67.84 chg: -0.17 stop: 70.55

LLL produced a small oversold bounce this morning but it quickly failed under the 200-dma. This continues to look like a bearish entry point. We see no changes from our previous update on 05/10/05.

Picked on May 10 at $ 68.01
Change since picked: - 0.17
Earnings Date 04/26/05 (confirmed)
Average Daily Volume = 855 thousand

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Lehman Brothers - LEH - close: 89.00 chg: +0.17 stop: 92.80

No change from our previous update on 05/10/05. Our target remains the $86-85 range.

Picked on April 29 at $ 89.45
Change since picked: - 0.45
Earnings Date 03/15/05 (confirmed)
Average Daily Volume = 2.3 million

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Marriot - MAR - close: 61.96 chg: +0.31 stop: 64.21

MAR bounced back toward its simple 10-dma but did not break it. There is no change from our previous update. Our target is the $60.00-58.00 range.

Picked on April 28 at $ 63.37
Change since picked: - 1.41
Earnings Date 04/21/05 (confirmed)
Average Daily Volume = 1.2 million

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Parker Hannifin - PH - close: 59.53 change: +0.47 stop: 62.01

No change from previous update on 05/08/05.

Picked on April 28 at $ 59.08
Change since picked: + 0.45
Earnings Date 04/18/05 (confirmed)
Average Daily Volume = 1.2 million
 

Dropped Calls

None
 

Dropped Puts

None

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