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Call Updates

Amerada Hess - AHC - close: 91.80 chg: +0.65 stop: 86.25

Another bounce in crude futures and a positive session for the oil indices helped AHC add another 0.7 percent. The stock looks poised to breakout over the $92.00 level, which looks like short-term resistance. We see no change from our previous updates. Our target is the $93.50-94.00 range. 

Picked on May 17 at $ 89.41
Change since picked: + 2.39
Earnings Date 07/27/05 (unconfirmed)
Average Daily Volume = 1.6 million 

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Amer. Intl Group - AIG - close: 53.80 chg: +0.35 stop: 52.49

AIG spent most of the session trading lower but a late-day rally helped spur the stock into the green. We remain on the sidelines waiting for shares to breakout over resistance at the $55.00 level and hit our entry point at $55.05. 

Picked on May xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 02/09/05 (confirmed)
Average Daily Volume = 15.5 million 

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Caterpillar - CAT - close: 93.83 chg: -0.21 stop: 89.00

CAT is still in limbo here. The DJIA is short-term overbought and due for a dip. Until we see that dip, which we expect to weigh on shares of CAT as well, we would not suggest new bullish positions. 

Picked on May 18 at $ 92.35
Change since picked: + 1.48
Earnings Date 04/20/05 (confirmed)
Average Daily Volume = 2.8 million 

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Career Education - CECO - close: 34.99 chg: -0.15 stop: 32.45

No change from our previous update on 05/23/05. We're expecting the market to dip and CECO should dip with it. Wait for the pull back before considering new bullish positions. 

Picked on May 23 at $ 35.24
Change since picked: - 0.25
Earnings Date 05/02/05 (confirmed)
Average Daily Volume = 2.5 million 

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Federated Dept Stores - FD - cls: 69.02 chg: -0.46 stop: 64.45 

Rival retailer Dillards (DDS) reported earnings today and missed results by 8 cents a share. The stock (DDS) lost more than eight percent. This weighed on the retail sector and shares of FD as well. We're not suggesting new positions at this time. More conservative traders can plan an exit in the 69.50-70.00 range. We're targeting a move into the 69.95-70.00 range. If the market pulls back we expect FD to pull back with it. The 10-dma near 66.50 is the next likely form of support.

Picked on May 17 at $ 66.60
Change since picked: + 2.42
Earnings Date 05/11/05 (confirmed)
Average Daily Volume = 2.9 million 

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Reynolds American - RAI - cls: 82.69 chg: -0.18 stop: 77.95

No change from our previous update on 05/22/05. We're still suggesting that readers look for a dip (probably in the $81-80 range) before considering new bullish positions.

Picked on May 16 at $ 81.31
Change since picked: + 1.38
Earnings Date 04/27/05 (confirmed)
Average Daily Volume = 866 thousand 

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United Technologies - UTX - cls: 107.00 chg: -0.64 stop: 102.45

No surprises here. After Monday's big gain a little bit of profit taking was in order. It's encouraging to see the $106 level hold as support but if the Dow finally seems some profit taking UTX could trade even lower. Don't be surprised to see a dip to the $105 level. 

Picked on May 23 at $106.25
Change since picked: + 0.75
Earnings Date 04/20/05 (confirmed)
Average Daily Volume = 2.0 million 

Put Updates

Precision Castparts - PCP - cls: 75.84 chg: +0.11 stop: 75.05

No change from our previous update. We are still waiting for PCP to breakdown under support and hit our entry point at $71.95.

Picked on May xx at $ xx.xx <-- see TRIGGER
Change since picked: - 0.00
Earnings Date 05/03/05 (confirmed)
Average Daily Volume = 492 thousand

Dropped Calls

Eli Lilly - LLY - close: 58.62 change: -0.10 stop: 57.99 

It was somewhat of a volatile day for shares of LLY. The stock opened lower but support at the $58.00 level held. Traders bought the dip but the rally stalled again this time near $59.30. We don't like the relative weakness and would rather find another bullish candidate to focus on. We're exiting early for a loss. 

Picked on May 04 at $ 60.15
Change since picked: - 1.53
Earnings Date 04/18/05 (confirmed)
Average Daily Volume = 4.7 million 

Dropped Puts

None

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