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Call Updates

Chubb Corp - CB - close: 86.86 change: -0.47 stop: 84.99

Readers can start eyeing the exits here. We remain defensive and won't hesitate to exit if CB starts to weaken. Our stop loss is at $84.99 but our mental stop is closer to $86.40. We are not suggesting new plays and plan to exit on Friday afternoon at the close.

Picked on June 10 at $ 85.05
Change since picked: + 1.81
Earnings Date 07/26/05 (confirmed)
Average Daily Volume = 1.2 million

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Pediatrix Med Group - PDX - cls: 77.25 chg: -0.08 stop: 72.34

PDX actually hit a new high midday today but we see no change from our previous update. PDX is holding up pretty well considering the relative weakness in the healthcare stocks. The HMO.X index lost 6.2 percent today alone. Our target is the $80.00-82.00 range but we are not suggesting new bullish positions with the major indices looking vulnerable to more profit taking.

Picked on July 11 at $ 76.10
Change since picked: + 1.15
Earnings Date 08/03/05 (unconfirmed)
Average Daily Volume = 158 thousand

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Reynolds American - RAI - close: 82.99 chg: -0.49 stop: 78.83

No change from our previous update. We are still suggesting that readers strongly consider taking some profits here! We plan to exit ahead of RAI's July 27th earnings report. Our target is the $84-85 range.

Picked on July 10 at $ 78.83
Change since picked: + 4.16
Earnings Date 07/27/05 (confirmed)
Average Daily Volume = 664 thousand
 

Put Updates

Infosys Tech. - INFY - cls: 70.43 chg: +0.51 stop: 75.01

No change from our previous update on Wednesday. The stock did manage to bounce from the first test of its simple 200-dma. Plus, positive revenue numbers from smaller rival Saytam (SAY)'s earnings report today may have influenced INFY's trading. Watch for a failed rally in the $72.00-72.50 region if the bounce continues.

Picked on July 20 at $ 69.92
Change since picked: + 0.51
Earnings Date 07/12/05 (confirmed)
Average Daily Volume = 922 thousand

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Ishares Global Energy - IXC - cls: 88.50 chg: -0.84 stop: 91.61

Crude oil prices continue to slide lower and this is naturally pressuring the oil stocks. Unfortunately, the IXC is still trading above short-term support at the $88.00 level. We remain cautious. Our target is the $85.25-85.00 range.

Picked on July 14 at $ 89.15
Change since picked: - 0.65
Earnings Date 00/00/00
Average Daily Volume = 33 thousand

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3M Co. - MMM - close: 74.55 change: -0.13 stop: 77.51

No change from yesterday's update.

Picked on July 19 at $ 74.29
Change since picked: + 0.26
Earnings Date 07/18/05 (confirmed)
Average Daily Volume = 3.4 million

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Children's Place - PLCE - cls: 45.32 chg: -1.68 stop: 47.51

Ah! Finally some movement! The market weakness today allowed PLCE to show its true colors. The stock lost 3.5 percent to hit a new relative low. More importantly PLCE broke down under technical support at its 100-dma. We are suggesting traders buy puts on a breakdown under the $45.00 mark (our entry point is $44.90) but more aggressive traders may want to open positions now with the stock under its 100-dma. Our target is the 40.50-40.00 range but we plan to exit ahead of its August earnings report.

Picked on July xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 08/11/05 (unconfirmed)
Average Daily Volume = 775 thousand
 

Dropped Calls

None
 

Dropped Puts

Fedex - FDX - close: 84.97 chg: +0.61 stop: 85.01

We are not too surprised to be stopped out today. The Transportation index bucked the general market weakness. Plus FDX's rival UPS reported earnings that came in better than expected. This helped propel FDX above the $85.00 level on an intraday basis. We do note that the rally stalled at the 50-dma before turning lower. Now whether or not this proves to be a failed rally (and new bearish entry point) remains to be seen but we have been stopped out at $85.01.

Picked on July 19 at $ 82.16
Change since picked: + 2.81
Earnings Date 06/23/05 (confirmed)
Average Daily Volume = 2.1 million

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Wellchoice - WC - close: 67.12 chg: -1.83 stop: 72.51

Target achieved. Healthcare stocks got hammered today. The HMO.X index lost 6.28 percent. Shares of WC closed the session with a 2.65 percent loss but managed to peg an intraday low of $65.50. That's the upper edge of our suggested target range of 65.50-65.00 so we are closing the play. If you didn't exit this morning watch out for an oversold bounce potentially back to the $68 maybe $69 levels.

Picked on July 14 at $ 69.46
Change since picked: - 2.34
Earnings Date 08/03/05 (confirmed)
Average Daily Volume = 268 thousand
 

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