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Call Updates

Amer. Intl Group - AIG - close: 55.89 chg: -0.21 stop: 52.49

The markets stalled ahead of Friday's jobs report and AIG stalled with it. No change from our previous update.

Picked on May 26 at $ 55.05
Change since picked: + 0.96
Earnings Date 02/09/05 (confirmed)
Average Daily Volume = 15.5 million

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Caterpillar - CAT - close: 95.18 chg: -0.29 stop: 89.99

Same story, different stock. CAT, a Dow component, didn't do much with the DJIA only adding 3.6 points on Thursday. We see no change from our previous update.

Picked on May 18 at $ 92.35
Change since picked: + 2.83
Earnings Date 04/20/05 (confirmed)
Average Daily Volume = 2.8 million

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Career Education - CECO - close: 35.44 chg: +0.15 stop: 32.45

CECO still looks poised to breakout to the upside. The stock inched over its simple 100-dma today. No change from our previous update.

Picked on May 23 at $ 35.24
Change since picked: + 0.20
Earnings Date 05/02/05 (confirmed)
Average Daily Volume = 2.5 million

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Rockwell Collins - COL - close: 49.54 chg: +0.01 stop: 44.95

No change from our previous update. We're still suggesting that readers wait for a dip toward the 100-dma before considering new bullish positions. Our suggested entry point is the $46.25-45.50 range although we are eyeing an alternative entry in the $47.50-48.00 region.

Picked on May xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 04/27/05 (confirmed)
Average Daily Volume = 800 thousand

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Federated Dept Stores - FD - cls: 69.09 chg: +1.39 stop: 64.45

FD got a nice pop higher today. Odds are the stock's strength was due to the Citigroup news and not the lackluster May same-store sales data. FD reported that their May same-store sales only rose 0.8 percent. Meanwhile FD also made a deal with Citigroup (C) to let C buy $6.6 billion of credit card assets. Broken down C will buy $4.4 billion in loans from FD and another $2.2 billion from May Department stores once FD and MAY complete their merger. After tax proceeds to FD are expected to be in the $4.5 billion range. We are not suggesting new plays. Our target is the $69.50-70.00 range.

Picked on May 17 at $ 66.60
Change since picked: + 2.49
Earnings Date 05/11/05 (confirmed)
Average Daily Volume = 2.9 million

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Reynolds American - RAI - cls: 82.88 chg: +0.27 stop: 77.95

No change from our previous update on 05/29/05.

Picked on May 16 at $ 81.31
Change since picked: + 1.57
Earnings Date 04/27/05 (confirmed)
Average Daily Volume = 866 thousand

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United Technologies - UTX - cls: 107.09 chg: -0.40 stop: 102.45

UTX, a Dow component, didn't do much with the DJIA only adding 3.6 points on Thursday. We see no change from our previous update. Our target is the $114.00-115.00 range.

Picked on May 23 at $106.25
Change since picked: + 0.84
Earnings Date 04/20/05 (confirmed)
Average Daily Volume = 2.0 million

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Wynn Resorts - WYNN - close: 53.40 chg: +3.45 stop: 44.99

This is looking more and more like a short squeeze in shares of WYNN. The stock added another 6.9 percent on top of Thursday's bullish breakout with volume today more than three times the average. Fueling the move was a report out from WYNN who said results from their new Wynn Las Vegas mega-casino through May 31st (which would be their first 34 days in operation) were much better than expected. WYNN's new casino raked in net gaming revenues of more than $64 million, plus the company's average daily room rate was $308 with a 91 percent occupancy rate. WYNN's press release said that non-gaming revenues were above $76 million. With short interest in the stock at 9.6 percent of the float one could see how a short squeeze might occur. The stock is looking a little bit overbought here so we're expecting some short-term resistance near $55.00 and its 50-dma and exponential 200-dma. Our overall target is the $57-58 range. Traders looking for new positions might do better to wait for a dip.

Picked on June 01 at $ 49.96
Change since picked: + 3.45
Earnings Date 08/03/05 (unconfirmed)
Average Daily Volume = 2.2 million
 

Put Updates

MedcoHealth Sol. - MHS - close: 50.76 change: +0.05 stop: 52.21

MHS remains under its simple 50-dma, which is encouraging but we are still suggesting that traders wait for MHS to trade back under the $49.50 level before considering new bearish positions. No change from our previous update.

Picked on June 01 at $ 49.90
Change since picked: + 0.86
Earnings Date 07/26/05 (unconfirmed)
Average Daily Volume = 2.0 million

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United Thera. - UTHR - close: 50.50 chg: +0.19 stop: 53.38

No change from our previous update. Our target remains the $48.25-47.50 range.

Picked on May 24 at $ 53.38
Change since picked: - 2.88
Earnings Date 05/03/05 (confirmed)
Average Daily Volume = 452 thousand
 

Dropped Calls

None
 

Dropped Puts

None
 

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