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Call Updates

Danaher - DHR - close: 56.21 chg: +0.19 stop: 53.99

DHR is trying to resist the market's recent weakness. So far it is holding up near the $56.00 level and its simple 10-dma. Yet we're not convinced that this is the best place to buy calls. We are not suggesting new plays at this time. Readers can watch for a potential dip into the $54.00-54.50 region.

Picked on August 03 at $ 56.67
Change since picked: - 0.46
Earnings Date 07/21/05 (confirmed)
Average Daily Volume = 1.5 million
 

Put Updates

Aetna - AET - close: 74.88 chg: -0.67 stop: 79.01

AET hits a new two-month low this afternoon before producing a meager bounce. We see no change from our weekend update. Our target is the $70.50-70.00 range.

Picked on August 07 at $ 75.55
Change since picked: - 0.67
Earnings Date 07/28/05 (confirmed)
Average Daily Volume = 2.0 million

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CR Bard - BCR - close: 63.25 chg: -0.30 stop: 66.05

No change from our weekend update.

Picked on August 03 at $ 64.45
Change since picked: - 1.20
Earnings Date 07/19/05 (confirmed)
Average Daily Volume = 553 thousand

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Eastman Chemical - EMN - close: 53.29 chg: -0.20 stop: 56.01

EMN hit another new three-month low today. We see no changes from our weekend update. Our target is the $50.50-50.00 range.

Picked on August 05 at $ 53.90
Change since picked: - 0.61
Earnings Date 07/28/05 (confirmed)
Average Daily Volume = 872 thousand

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Fedex Corp - FDX - close: 84.65 chg: +0.05 stop: 86.01

The consolidation in shares of FDX appears to be narrowing. We expecting a breakout soon - either up through resistance at its 50-dma or down below short-term support at the $84.00 level. Aggressive traders may want to buy puts on a decline under $84.00. Our suggested entry point is $82.99.

Picked on July xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 09/22/05 (unconfirmed)
Average Daily Volume = 2.0 million

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F5 Networks - FFIV - close: 38.05 chg: +0.88 stop: 41.01

FFIV bucked the downtrend in technology today. Shares added 2.3% to erase Friday's decline. The move higher was sparked by an upgrade and a new $49 price target by Kaufman Bros. We noticed that the rally appeared to reverse late Monday afternoon and this may prove to be a new bearish entry point. Our weekend update did suggest that readers look for an oversold bounce back toward the $39 or $40 levels as a new entry point to buy puts. The high today was $39.17. Remember, that the biggest risk here is unexpected news out of CSCO tomorrow after the company reports earnings.

Picked on August 03 at $ 38.76
Change since picked: - 0.71
Earnings Date 07/20/05 (confirmed)
Average Daily Volume = 1.4 million

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Fannie Mae - FNM - close: 54.20 chg: -0.76 stop: 57.01

So far so good. FNM lost another 1.38% today and confirmed the breakdown under the $55.00 level. Investors were probably not happy to hear that J.P.Morgan had taken FNM off their Focus List. A brief CBSMW article quoted JPM as saying FNM's weakness pushed it below their internal guidelines to stay on the list. Sounds good to us! We are targeting a decline into the $51.50-50.00 range. If FNM bounces look for short-term resistance near $55.00.

Picked on July 27 at $ 56.49
Change since picked: - 2.29
Earnings Date 00/00/05 (unconfirmed)
Average Daily Volume = 3.3 million

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Google - GOOG - close: 291.25 chg: -1.10 stop: 300.01

We remain on the sidelines waiting for GOOG to breakdown. Shares are struggling with its simple 50-dma at the moment near $291 but we're waiting for GOOG to hit $284.50 as our suggested entry point. It is worth noting that one analyst today told their investors to buy GOOG on weakness and bolstered their argument that GOOG would likely be added to the S&P 500 within the next year. We want to remind readers that this is a very high risk play and should only be considered with risk capital.

Picked on July xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 07/21/05 (confirmed)
Average Daily Volume = 13.6 million

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Lehman Brothers - LEH - cls: 102.56 chg: -0.83 stop: 107.01

LEH continues to show weakness despite a bounce in the XBD broker-dealer index. The intraday chart shows LEH poised for more declines tomorrow. Our target is the $100.50-100.00 range. We are lowering the stop loss to $107.01. More conservative traders might want to consider the $106 region.

Picked on July 21 at $105.13
Change since picked: - 2.53
Earnings Date 06/14/05 (confirmed)
Average Daily Volume = 2.7 million

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3M Co. - MMM - close: 72.34 change: -0.65 stop: 76.01

We see no changes from our weekend update. Our target is the $70.00-68.00 range.

Picked on July 19 at $ 74.29
Change since picked: - 1.95
Earnings Date 07/18/05 (confirmed)
Average Daily Volume = 3.4 million

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MicroStrategy - MSTR - close: 72.66 chg: -0.73 stop: 77.51

MSTR tried to bounce this morning but it quickly failed. That's good news for the bears as is today's breakdown under the simple 10-dma. We see no changes from our weekend update. Our target is the $70.50-70.00 range.

Picked on August 05 at $ 74.95
Change since picked: - 2.29
Earnings Date 07/28/05 (confirmed)
Average Daily Volume = 570 thousand

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Neurocrine Bio. - NBIX - cls: 45.86 chg: -1.44 stop: 50.01

The biotech sector was hit pretty hard with some profit taking today and the BTK biotech index touched new three-week lows, which should confirm the recent bearish reversal. NBIX under performed its peers with a 3% decline on above average volume. This is good news for the bears but take note. The intraday chart shows a lot of volume on the very small bounce near the closing bell. We would not be surprised to see an oversold bounce in NBIX back twoard the $48.00 level. More patient traders can watch for a failed rally as a new bearish entry point. Our target is the $43.00-42.00 range.

Picked on August 07 at $ 47.30
Change since picked: - 1.44
Earnings Date 08/03/05 (confirmed)
Average Daily Volume = 543 thousand
 

Dropped Calls

None
 

Dropped Puts

KB Home - KBH - close: 72.45 chg: -2.05 stop: 82.01

The profit taking has been fast and fierce in the homebuilding sector. The DJUSHB home construction index lost another 3.3 percent today as investors worried over rising interest rates and its affect on the housing industry. Shares of KBH continued to drop and hit an intraday low of $71.50, which is the top end of our target range. We're closing the play per our game plan. The stock is looking a bit short-term oversold so traders still holding positions need to be ready for a bounce.

Picked on August 04 at $ 78.36
Change since picked: - 5.91
Earnings Date 09/15/05 (unconfirmed)
Average Daily Volume = 2.4 million

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Panera Bread - PNRA - close: 55.99 chg: -0.31 stop: 57.51

Time is up. We have been warning readers for days that our plan is to exit on Monday afternoon at the close to avoid holding over earnings due out Tuesday morning. Wall Street is looking for 33 cents a share.

Picked on August 1 at $ 57.49
Change since picked: - 1.50
Earnings Date 08/09/05 (confirmed)
Average Daily Volume = 601 thousand
 

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