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Call Updates

AmerisourceBergen - ABC - close: 68.60 change: +0.58 stop: 64.95 

ABC almost made it to our target today. The stock rallied to a new high of $69.15 before a small afternoon pull back. Our target is the $69.50-70.00 range. We are not suggesting new plays here and more conservative traders may want to take profits now.

Picked on June 13 at $ 65.57
Change since picked: + 3.03 
Earnings Date 07/21/05 (unconfirmed)
Average Daily Volume = 1.3 million 

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Ashland Inc - ASH - close: 71.31 chg: +0.82 stop: 67.95 *new*

After two days of consolidating above what should be round-number support at the $70.00 level shares of ASH rallied higher to close near all-time highs. Positive comments from an analyst firm didn't hurt the stock either. Meanwhile at the company's shareholder meeting investors voted to approve the company's sale of its minority stake in Marathon Ashland Petroleum LLC to partner Marathon Oil for $3.7 billion in cash and stock (source: AP). This marks the end of ASH's participation in any oil refining business. We remain bullish on the stock and we're raising the stop loss to $67.95. 

Picked on June 16 at $ 70.05
Change since picked: + 1.26
Earnings Date 07/25/05 (unconfirmed)
Average Daily Volume = 1.1 million 

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Chubb Corp - CB - close: 85.69 change: -0.59 stop: 82.49

No change from our previous update. In the news CB confirmed that it would report earnings on July 26th. We do not plan on holding over the event.

Picked on June 10 at $ 85.05 
Change since picked: + 0.64
Earnings Date 07/26/05 (confirmed)
Average Daily Volume = 1.2 million 

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Rockwell Collins - COL - close: 47.77 chg: -0.56 stop: 46.49 

No change from our previous update. The MACD is nearing a new buy signal on the daily chart.

Picked on June 27 at $ 46.75
Change since picked: + 1.02
Earnings Date 07/26/05 (unconfirmed)
Average Daily Volume = 800 thousand 

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Cummins Inc - CMI - close: 75.19 change: -0.34 stop: 70.95

CMI looks pretty good here with only a minor decline following yesterday's surge higher. No change from our previous update. Our target is the $77.50-80.00 range. 

Picked on June 19 at $ 74.03
Change since picked: + 1.16
Earnings Date 07/21/05 (unconfirmed)
Average Daily Volume = 970 thousand 

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Fording Candn Coal - FDG - cls: 91.80 chg: +0.77 stop: 88.49 

Looks like traders bought the dip near the $91.00 level above its simple 100-dma. We remain bullish on the stock here.

Picked on June 19 at $ 90.30
Change since picked: + 1.50
Earnings Date 07/25/05 (unconfirmed)
Average Daily Volume = 384 thousand 

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Goldman Sachs - GS - close: 102.79 chg: -1.17 stop: 101.89

The action in GS today was disappointing. The stock has slipped back under its 200-dma and the technical oscillators are deteriorating. We have our stop loss under the bottom of the recent trading range. If GS doesn't bounce soon we'll be stopped out. Currently shares are just above their exponential 200-dma. More aggressive traders may want to buy a bounce from here. The rest of us can probably wait for another move over the $104.00 level. 

Picked on June 28 at $104.35
Change since picked: - 1.56
Earnings Date 06/16/05 (confirmed)
Average Daily Volume = 4.8 million 

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Rio Tinto - RTP - close: 123.81 chg: -0.49 stop: 119.99

No change from our previous update.

Picked on June 27 at $123.33
Change since picked: + 0.48
Earnings Date 08/03/05 (unconfirmed)
Average Daily Volume = 160 thousand 

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SLM Corp - SLM - close: 50.24 change: -0.53 stop: 48.95

Lack of follow through on yesterday's rebound is discouraging but we would remain bullish on SLM with the stock above $50.00. 

Picked on June 20 at $ 50.92
Change since picked: - 0.68
Earnings Date 07/14/05 (unconfirmed)
Average Daily Volume = 1.8 million 

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Wellpoint Inc - WLP - close: 69.66 chg: +1.17 stop: 65.90 

Healthcare stocks were higher today and WLP added 1.7 percent. We suspect that today's rally might be window-dressing related. Our target is the $74.00-75.00 range.

Picked on June 05 at $ 68.40
Change since picked: + 1.26 
Earnings Date 07/27/05 (unconfirmed)
Average Daily Volume = 3.5 million

Put Updates

BodyAmbac Fincl. - ABK - close: 70.66 chg: +0.01 stop: 71.51

Wednesday morning saw some follow through on ABK's Tuesday rebound but the buying powered stalled near the $71.00 region and its trend of lower highs. This might be consider a new bearish entry point but we would suggest readers wait for a move back under $70.00 or even $69.50 before considering new positions. 

Picked on June 26 at $ 69.62
Change since picked: + 1.04
Earnings Date 07/20/05 (unconfirmed)
Average Daily Volume = 992 thousand 

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ESCO Tech. - ESE - close: 101.00 chg: -0.49 stop: 102.51

We remain very guarded here with ESE. The stock found support at the $100.00 level today and that does not bode well for any bearish positions. We're not suggesting any new plays until ESE trades back under $99 or $98. 

Picked on June 26 at $ 97.80
Change since picked: + 3.20
Earnings Date 08/10/05 (unconfirmed)
Average Daily Volume = 102 thousand

Dropped Calls

None

Dropped Puts

Netease.com - NTES - close: 57.39 chg: -0.58 stop: 55.95 

The action in NTES doesn't bode well for the future and while the stock is still above technical support at its 21-dma we are choosing to exit early. More aggressive traders may want to consider keeping the play open. There is a possibility for some last minute window dressing tomorrow before the quarter ends. 

Picked on June 13 at $ 57.29
Change since picked: + 0.10
Earnings Date 07/26/05 (unconfirmed)
Average Daily Volume = 752 thousand 

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