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Call Updates

AmerisourceBergen - ABC - close: 68.02 change: +0.81 stop: 63.85

A positive day in the markets and news that ABC was selling its Bridge Medical subsidiary for $11 million to Cerner helped push ABC's stock to another new high. ABC is nearing our target in the $69.50-70.00 range.

Picked on June 13 at $ 65.57
Change since picked: + 2.45
Earnings Date 07/21/05 (unconfirmed)
Average Daily Volume = 1.3 million

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Amer. Intl Group - AIG - close: 55.23 chg: -0.18 stop: 54.49 *new*

Dow-component AIG continues to under perform and we are leaning more and more towards an early exit. At this time we are not suggesting new bullish plays although readers may want to reconsider if AIG can breakout over the $56.00 level. We are going to raise our stop loss to $54.49 since AIG hasn't traded under $54.58 in three weeks. If the Dow can breakout over the 10,600 level then AIG might finally turn higher. If not we'll probably be closing this play soon.

Picked on May 26 at $ 55.05
Change since picked: + 0.18
Earnings Date 02/09/05 (confirmed)
Average Daily Volume = 15.5 million

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Ashland Inc - ASH - close: 70.14 chg: +0.52 stop: 66.99

Ding! ASH has traded at our trigger/entry point at $70.05 to open the play. The stock continues to look strong and today's breakout over resistance at the $70.00 mark is a new bullish entry point. Our short-term target is the $74.75-75.25 range.

Picked on June 16 at $ 70.05
Change since picked: + 0.09
Earnings Date 07/25/05 (unconfirmed)
Average Daily Volume = 1.1 million

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Caterpillar - CAT - close: 98.31 chg: -0.27 stop: 95.85 *new*

Hmm... CAT appears to be struggling with resistance in the $99.00-99.05 region. This close to our target we continue to suggest that more conservative traders exit now. We are going to re-adjust our target range to $99.00-100.00 so that any spike to $99.00 is our chance to exit this play. We are also raising our stop loss to $95.85.

Picked on May 18 at $ 92.35
Change since picked: + 5.96
Earnings Date 04/20/05 (confirmed)
Average Daily Volume = 2.8 million

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Chubb Corp - CB - close: 85.24 change: +0.37 stop: 82.49

Not much change here. CB continues to creep higher. Another insurance stock in the same sector as CB is Hartford (HIG). Readers may also want to look at HIG as a potential bullish candidate.

Picked on June 10 at $ 85.05
Change since picked: + 0.19
Earnings Date 07/25/05 (unconfirmed)
Average Daily Volume = 1.2 million

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Rockwell Collins - COL - close: 48.46 chg: +0.43 stop: 44.95

Thus far we remain untriggered and on the sidelines with COL. Our plan was to buy a dip toward the simple 100-dma where investors have been supporting the stock for months. Yet today's bounce and up turn in COL's technical indicators suggest that the stock might not dip low enough to hit our entry point. We're going to stick to our plan for now and wait for COL to dip into the $46.75-46.00 range before buying calls. More aggressive traders may want to seriously consider going long here with today's bounce. If the Dow Industrials can breakout over the 10,600 level we may end up changing our strategy and moving up our entry price in COL.

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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Eagle Materials - EXP - close: 94.70 chg: +0.99 stop: 89.49*new*

Another day, another gain for shares of EXP. Today's positive economic news on the homebuilding front was just more fuel for the fire in EXP's rally. The stock is starting to look a bit extended again. We would not suggest new positions here. Short-term or more conservative traders may want to consider taking some profits here. Currently our target is the $97.00-99.00 range. We are going to raise our stop loss to $89.49.

Picked on June 09 at $ 90.45
Change since picked: + 4.25
Earnings Date 08/03/05 (unconfirmed)
Average Daily Volume = 134 thousand

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Netease.com - NTES - close: 58.90 chg: +2.89 stop: 53.95

Thursday proved to be a strong day for techs and the Internet stocks. Shares of NTES added more than five percent on volume more than double the average. Anyone who bought the recent dip toward the 10-dma should be in a good position. This breakout over the $58.00 level is also a positive technical development. Our target is the $62.00-63.00 range.

Picked on June 13 at $ 57.29
Change since picked: + 1.61
Earnings Date 07/26/05 (unconfirmed)
Average Daily Volume = 752 thousand

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Occidental Petrol. - OXY - close: 79.12 chg: +0.78 stop: 74.50*new*

Another day, another gain for the oil sector. The OIX index is nearing its highs and the OSX oil services index has broken out to new all-time highs. Shares of OXY are also setting new all-time highs. We have to apologize. Yesterday we mistakenly listed our target as the $78.75-80.50 range. Our original play listed our target as the $79.75-80.50 range. Today's gain in OXY would have put the stock into the lower target range. Actually exiting here may not be a bad idea. The sector indices are starting to look a bit overbought and extended. We're going to keep the play open and target the $79.75+ range as originally planned. More conservative traders may want to seriously consider taking some money off the table here. We are going to raise our stop loss to $74.50.

Picked on June 09 at $ 75.51
Change since picked: + 3.61
Earnings Date 07/26/05 (unconfirmed)
Average Daily Volume = 2.7 million

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Pulte Homes - PHM - close: 82.25 chg: +1.09 stop: 76.95 *new*

Homebuilders continue to surge following yesterday's bullish breakout and today's healthy housing data. We are raising our stop loss to $76.95. Traders looking for a new entry point can hope for a pull back toward the $80.00 region. Our short-term target is the $84.75-85.00 range.

Picked on June 15 at $ 80.25
Change since picked: + 2.00
Earnings Date 07/25/05 (unconfirmed)
Average Daily Volume = 1.7 million

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Teekay Shipping - TK - close: 43.82 chg: +0.43 stop: 42.45

No change here. We remain untriggered in TK. We are strongly considering just closing this play unopened but we'll give it one more day and re-evaluate. Our trigger to buy calls is $45.05.

Picked on June xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 07/20/05 (unconfirmed)
Average Daily Volume = 681 thousand

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Total S.A. - TOT - close: 116.25 chg: +0.88 stop: 111.95 *new*

Oil stocks continue to be very strong and TOT has produced another relative high. We are raising our stop loss to $111.95. Our target is the $119.50-120.00 range.

Picked on June 09 at $114.00
Change since picked: + 2.35
Earnings Date 08/04/05 (unconfirmed)
Average Daily Volume = 857 thousand

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United Technologies - UTX - cls: 52.53 chg: +0.17 stop: 51.25

We continue to be surprised by UTX's relative weakness. Currently we are altering our strategy and plan to exit the play at tomorrow's close.

Picked on May 23 at $ 53.12
Change since picked: - 0.59
Earnings Date 04/20/05 (confirmed)
Average Daily Volume = 4.0 million

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Wellpoint Inc - WLP - close: 68.69 chg: -0.51 stop: 64.90

No change from our previous update.

Picked on June 05 at $ 68.40
Change since picked: + 0.29
Earnings Date 07/27/05 (unconfirmed)
Average Daily Volume = 3.5 million
 

Put Updates

ITT Industries - ITT - close: 95.16 chg: +0.35 stop: 96.01

We remain very cautious here. If the DJIA can breakout over the 10,600 level then we expect ITT to make a run for the $96.00 level and probably stop us out. We are not suggesting new bearish positions and more conservative types may want to exit early to avoid further losses.

Picked on June 08 at $ 93.85
Change since picked: + 1.41
Earnings Date 07/22/05 (unconfirmed)
Average Daily Volume = 581 thousand

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Quality Systems - QSII - cls: 49.08 chg: +0.22 stop: 51.51

Thankfully QSII failed to truly participate in the market's strength today. We remain bearish but are not suggesting new put positions until QSII trades under $47.75 again.

Picked on June 15 at $ 47.75
Change since picked: + 1.33
Earnings Date 06/13/05 (confirmed)
Average Daily Volume = 330 thousand

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Semiconductor Holders - SMH - cls: 34.45 chg: +0.20 stop: 35.05

The rally in the NASDAQ today was more impressive than the gains in the SMH. We remain bearish but are not suggesting new put positions until SMH trades back under the $34.00 level.

Picked on June 15 at $ 33.95
Change since picked: + 0.50
Earnings Date 00/00/00 (unconfirmed)
Average Daily Volume = 26.3 million
 

Dropped Calls

None
 

Dropped Puts

MedcoHealth Sol. - MHS - close: 52.13 change: +0.18 stop: 52.21

Another positive day in the markets was enough to fuel a rise to $52.23 in shares of MHS. This stopped us out of the play at $52.21.

Picked on June 01 at $ 49.90
Change since picked: + 2.23
Earnings Date 07/26/05 (unconfirmed)
Average Daily Volume = 2.0 million
 

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