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Call Updates

Las Vegas Sands - LVS - close: 37.99 chg: -1.01 stop: 36.99

The sell-off continues in LVS and its bullish posture is quickly eroding. Shares fell back to its simple 50-dma before attempting any sort of bounce late this afternoon. After two strong days of declines we might begin to look for an oversold bounce. However, the major indices still look poised to move lower and that will probably push LVS below support in the $37.50 region. We would not suggest new plays here and more conservative traders may want to abandon the play now to minimize their losses.

Picked on July 21 at $ 40.31
Change since picked: - 2.32
Earnings Date 08/03/05 (confirmed)
Average Daily Volume = 934 thousand

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Pediatrix Med Group - PDX - cls: 78.01 chg: +0.28 stop: 74.25

No change from our previous update. Our target is the $80-82 range. We would not suggest new plays at this time.

Picked on July 11 at $ 76.10
Change since picked: + 1.91
Earnings Date 08/03/05 (unconfirmed)
Average Daily Volume = 158 thousand
 

Put Updates

AutoZone - AZO - close: 97.61 chg: -0.52 stop: 100.01

So far so good. AZO confirmed yesterday's breakdown below its simple 10-dma and it also broke down under the $98 level and its low from last week. We also notice that the MACD has confirmed its new sell signal as well. This looks like a new entry point to buy puts. Our target is the simple 50-dma currently at 92.88.

Picked on July 25 at $ 98.13
Change since picked: - 0.52
Earnings Date 09/20/05 (unconfirmed)
Average Daily Volume = 748 thousand

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Best Buy Co - BBY - close: 74.89 chg: +1.28 stop: 76.61

Our very aggressive put play in BBY is still currently sitting at the starting line. The stock bounced from yesterday's decline and is challenging the $75 level. This is a decent show of strength considering the negative consumer sentiment numbers. We are suggesting that readers wait for a drop (to or) under our trigger at $73.25 before buying puts. Our target is the 40-dma near $67.00. Please see yesterday's update for more details.

Picked on July xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 06/14/05 (confirmed)
Average Daily Volume = 3.3 million

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Fannie Mae - FNM - close: 57.70 chg: +0.19 stop: 59.51

No change from our previous update. We are suggesting that traders wait for FNM to breakdown under its simple 100-dma before initiating positions. Our trigger to buy puts is at $56.49. Our target will be the $51.50-50.00 range. Please see yesterday's update for more details. FYI: it will be interesting to see if FNM (and FRE) see any movement tomorrow in reaction to news of an alternative senate bill regarding GSE's that came out after the closing bell tonight.

Picked on July xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 00/00/05 (unconfirmed)
Average Daily Volume = 3.3 million

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Infosys Tech. - INFY - cls: 72.55 chg: +1.01 stop: 75.01

More conservative traders may want to start eyeing the exits here. INFY still has technical resistance at the bottom of its gap down near $74.00 but its show of strength is a concern. We suspect it is due to the strength in the Indian stock market, which hit yet another new all-time high today.

Picked on July 20 at $ 69.92
Change since picked: + 2.63
Earnings Date 07/12/05 (confirmed)
Average Daily Volume = 922 thousand

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KB Home - KBH - close: 81.04 chg: +1.04 stop: 82.51

It looks like the bulls are not going to give up on the homebuilders without a fight. Shares of KBH did dip below the $80.00 level and did trade at and below our suggested entry point at $79.85 today but traders bought the dip and pushed the stock back above the $81 level. The MACD may be pointing lower with a new sell signal but KBH could easily bounce from here making this just another head fake for the bears. In our play description we suggested that more conservative traders may want to wait for the DJUSHB index to breakdown under the 1050 level first before considering bearish positions and that may prove to be stronger strategy. The play is officially open but we're not suggesting new positions with KBH above the $80.00 mark.

Picked on July 26 at $ 79.85
Change since picked: + 1.19
Earnings Date 09/15/05 (unconfirmed)
Average Daily Volume = million

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Lehman Brothers - LEH - cls: 105.94 chg: -0.09 stop: 108.01

The XBD broker-dealer index was actually one of the worst performing sectors behind gold and metals today. The move lower was driven by an earnings miss from Legg Mason (LM). Yet shares of LEH showed a lot of relative strength with only a minor decline and a bounce from the $105 region. This remains a very speculative play and traders may want to wait for a decline under the $105 mark before considering new put positions.

Picked on July 21 at $105.13
Change since picked: + 0.81
Earnings Date 06/14/05 (confirmed)
Average Daily Volume = 2.7 million

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3M Co. - MMM - close: 73.78 change: -0.39 stop: 77.51

Good news! The weakness in the DJIA today helped push MMM under short-term support at the $74.00 level. Today's decline looks like another entry point if you didn't already buy puts. Our short-term target is the $70-68 range.

Picked on July 19 at $ 74.29
Change since picked: - 0.51
Earnings Date 07/18/05 (confirmed)
Average Daily Volume = 3.4 million

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Children's Place - PLCE - cls: 46.09 chg: -0.52 stop: 47.51

No change from our previous update. PLCE continues to struggle with any sort of follow through on these bounces. Our strategy is to buy puts on a breakdown below the $45.00 level. Our suggested entry point is $44.90.

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

None
 

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