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Call Updates

AmerisourceBergen - ABC - close: 66.81 change: -0.24 stop: 63.85

As we expected ABC dipped toward the $66.00 level and managed a bounce from there. Volume came in above average today. This might be a new bullish entry point but ABC needs to break the short-term four-day trend of lower highs. Our target is the $69.50-70.00 range. 

Picked on June 13 at $ 65.57
Change since picked: + 1.24
Earnings Date 07/21/05 (unconfirmed)
Average Daily Volume = 1.3 million 

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Ashland Inc - ASH - close: 70.20 chg: -0.25 stop: 66.99

No change from our weekend update.

Picked on June 16 at $ 70.05
Change since picked: + 0.15
Earnings Date 07/25/05 (unconfirmed)
Average Daily Volume = 1.1 million 

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Chubb Corp - CB - close: 86.18 change: +1.48 stop: 82.49

Relative strength continues for shares of CB today. The stock added 1.74 percent to close near its recent highs. We see no changes from our previous update.

Picked on June 10 at $ 85.05 
Change since picked: + 1.13
Earnings Date 07/25/05 (unconfirmed)
Average Daily Volume = 1.2 million 

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Rockwell Collins - COL - close: 47.38 chg: +0.10 stop: 44.95

Ding! COL dipped to exactly $46.75 today and hit the top edge of our suggested entry point to buy calls so the play is now open. While we are bullish on the stock and believe that this dip to its simple 100-dma is a new entry point we suggest that more conservative traders may want to wait for signs of a bounce first. A move over $48.00 or $48.50 might be sufficient. Our initial target was resistance at the $50.00 level but now we're adjusting our target to the $52.50 region (52.25-52.50). The P&F chart points to a $69 target. Remember, we do not plan on holding over COL's earnings report in late July. 

Picked on June 27 at $ 46.75
Change since picked: + 0.63
Earnings Date 07/26/05 (unconfirmed)
Average Daily Volume = 800 thousand 

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Cummins Inc - CMI - close: 73.21 change: +0.91 stop: 70.95

CMI produced a decent bounce today from the $72.00 level and shares are challenging the 200-dma again. Our weekend update suggested waiting for a move over the 200-dma or the $74.00 level before considering new bullish positions. More aggressive traders may want to buy today's gain over the $73.00 level. 

Picked on June 19 at $ 74.03
Change since picked: - 0.82
Earnings Date 07/21/05 (unconfirmed)
Average Daily Volume = 970 thousand 

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Fording Candn Coal - FDG - cls: 94.40 chg: +0.57 stop: 87.49 

No change from our weekend update. More conservative traders may want to consider taking some profits here. 

Picked on June 19 at $ 90.30
Change since picked: + 4.10
Earnings Date 07/25/05 (unconfirmed)
Average Daily Volume = 384 thousand 

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Goldman Sachs - GS - close: 103.20 chg: -0.47 stop: 101.89

No change from our weekend update. We are waiting for a breakout over the $104.00 level. Our suggested entry point to buy calls is $104.35. 

Picked on June xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 06/16/05 (confirmed)
Average Daily Volume = 4.8 million 

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Netease.com - NTES - close: 56.67 chg: -1.78 stop: 55.95 

Uh-oh! Today's three percent decline in NTES could spell trouble. The stock's drop below the $58 level and its simple 10-dma suggests the short-term rising channel has been broken. A pull back to the $55.00 level or even $54.00 may be in order here. We're not suggesting new bullish positions and more conservative traders may want to exit early here to avoid further losses. 

Picked on June 13 at $ 57.29
Change since picked: - 0.62
Earnings Date 07/26/05 (unconfirmed)
Average Daily Volume = 752 thousand 

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SLM Corp - SLM - close: 49.65 change: -1.23 stop: 48.95

Hmm...we can't see any specific event to account for SLM's relative weakness today and its 2.4 percent decline. It's possible that investors reacted negatively to news that Federal student loans rates are going to rise this coming Friday. It is noteworthy that the selling stalled at previous resistance near $49.50. Readers can use a bounce back over the $50.00 level as a new bullish entry point. 

Picked on June 20 at $ 50.92
Change since picked: - 1.27
Earnings Date 07/14/05 (unconfirmed)
Average Daily Volume = 1.8 million 

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Wellpoint Inc - WLP - close: 67.57 chg: -0.62 stop: 65.90 

Negative earnings news from the likes of Cardinal health (CAH) may have weighed on WLP today. The stock broke down under the $68.00 level and could be headed toward support near $66.00. We would not suggest new bullish positions at this time.

Picked on June 05 at $ 68.40
Change since picked: - 0.83 
Earnings Date 07/27/05 (unconfirmed)
Average Daily Volume = 3.5 million 

Put Updates

Ambac Fincl. - ABK - close: 69.32 chg: -0.30 stop: 71.51

No change from our weekend update.

Picked on June 26 at $ 69.62
Change since picked: - 0.30
Earnings Date 07/20/05 (unconfirmed)
Average Daily Volume = 992 thousand 

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ESCO Tech. - ESE - close: 99.97 chg: +2.17 stop: 102.51

Our new aggressive bearish play in ESE is showing why we labeled it higher-risk. The stock produced an oversold bounce back toward the $100 level today. If ESE breaks out over the 100 level (or 100.50 or 101.00 depending on your risk profile) then traders may want to exit early. 

Picked on June 26 at $ 97.80
Change since picked: + 2.17
Earnings Date 08/10/05 (unconfirmed)
Average Daily Volume = 102 thousand 

Dropped Calls

None

Dropped Puts

Quality Systems - QSII - cls: 48.43 chg: +3.54 stop: 48.01 

Looks like the bears panicked today after an analyst upgraded shares of QSII to an "above average". Volume was pretty heavy on the spike and the stock pushed back above the 10-dma and its 100-dma. We were stopped out at $48.01. 

Picked on June 15 at $ 47.75
Change since picked: + 0.68
Earnings Date 06/13/05 (confirmed)
Average Daily Volume = 330 thousand 

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