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Call Updates

Danaher - DHR - close: 55.48 chg: -0.73 stop: 53.99

Heads up! DHR's relative weakness today on a session that most of the market rebounded higher is not a good sign. The breakdown under its 10-dma was expected as we've been watching for a pull back toward what should be support near the $54.50 region. We are not suggesting new plays and more conservative traders may want to exit early right here and just wait to see if and where DHR bounces.

Picked on August 03 at $ 56.67
Change since picked: - 1.19
Earnings Date 07/21/05 (confirmed)
Average Daily Volume = 1.5 million
 

Put Updates

Aetna - AET - close: 76.99 chg: +2.11 stop: 79.01

Whoa! AET turned in a big rebound today adding 2.8% to break its week long trend of lower highs. This has the short-term oscillators looking bearish and its MACD suggesting a new buy signal in its near future. The key will be if AET can produce any sort of follow through on this bounce. More conservative traders may want to seriously consider exiting early if AET trades over the 100-dma near $77.40-77.60. We are not suggesting new plays here.

Picked on August 07 at $ 75.55
Change since picked: + 1.44
Earnings Date 07/28/05 (confirmed)
Average Daily Volume = 2.0 million

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Best Buy Co - BBY - close: 49.80 chg: +0.49 stop: 52.51

BBY did manage a minor bounce this morning but gave back most of it by the close. We remain bearish on the stock but given the market's rebound today traders might want to wait for a new decline under $49.49 or even $49.00 before opening new positions. It is interesting to note that one analyst firm dropped coverage on BBY today. Many times a firm will choose to drop coverage on a stock instead of issuing a "sell" rating.

Picked on August 08 at $ 49.31
Change since picked: + 0.49
Earnings Date 09/13/05 (unconfirmed)
Average Daily Volume = 5.0 million

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CR Bard - BCR - close: 63.20 chg: -0.05 stop: 66.05

BCR's relative weakness today during today's market bounce is a good sign for the bears. No change from our weekend update.

Picked on August 03 at $ 64.45
Change since picked: - 1.25
Earnings Date 07/19/05 (confirmed)
Average Daily Volume = 553 thousand

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Eastman Chemical - EMN - close: 53.45 chg: +0.16 stop: 56.01

EMN produced a minor bounce today but the trend remains bearish. If shares produce a failed rally under resistance at the $54.00 level we'd use it as a new entry point to buy puts. Our target is the $50.50-50.00 range.

Picked on August 05 at $ 53.90
Change since picked: - 0.45
Earnings Date 07/28/05 (confirmed)
Average Daily Volume = 872 thousand

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Fedex Corp - FDX - close: 84.63 chg: -0.02 stop: 86.01

It is very interesting that FDX did not participate in today's market rally. The stock continues to narrow its consolidation between $84.00 and its simple 50-dma overhead. 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: 38.00 chg: -0.05 stop: 41.01

CSCO turned in earnings after the bell today. The report was positive but investors are responding by selling the news. After hours markets have CSCO trading lower. This is also pushing FFIV lower, which was trading near $37.60 in after hours. We see no change in our strategy. Any failed rally under $40.00 or its 10-dma can be used as a new entry point but FFIV may not bounce at all. Our target is the $35-34 range.

Picked on August 03 at $ 38.76
Change since picked: - 0.76
Earnings Date 07/20/05 (confirmed)
Average Daily Volume = 1.4 million

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Fannie Mae - FNM - close: 54.83 chg: +0.63 stop: 57.01

No surprises here. FNM did bounce but the rebound failed at $55.28. FNM continues to trade with a steady trend of lower highs. Our target is the 51.50-50.00 range.

Picked on July 27 at $ 56.49
Change since picked: - 1.66
Earnings Date 00/00/05 (unconfirmed)
Average Daily Volume = 3.3 million

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Google - GOOG - close: 291.57 chg: +0.32 stop: 300.01

Hmmm.. a 32-cent gain does not look like much of rally today. We remain on the sidelines but it's noteworthy that GOOG has now broken below its simple 50-dma. We are suggesting that traders consider high-risk put plays if GOOG trades at or below our trigger of $284.50.

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: 103.96 chg: +1.40 stop: 107.01

The XBD broker-dealer index rallied strongly today and LEH followed suit. We are not suggesting new positions but readers can watch for a failed rally under $105 or $106 as a new entry point.

Picked on July 21 at $105.13
Change since picked: - 1.17
Earnings Date 06/14/05 (confirmed)
Average Daily Volume = 2.7 million

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3M Co. - MMM - close: 72.00 change: -0.34 stop: 76.01

MMM tried to bounce this morning but couldn't hold it. Today marks the sixth decline in a row. We like today's relative weakness but MMM is probably due for a minor bounce. Our target is the $70-68 range.

Picked on July 19 at $ 74.29
Change since picked: - 2.29
Earnings Date 07/18/05 (confirmed)
Average Daily Volume = 3.4 million

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MicroStrategy - MSTR - close: 73.36 chg: +0.70 stop: 77.51

MSTR tried to rally twice today and both times the rally ran out of steam. That sounds like good news for bearish traders. We see no change from our previous update. Our target is the $70.50-70.00 range.

Picked on August 05 at $ 74.95
Change since picked: - 1.59
Earnings Date 07/28/05 (confirmed)
Average Daily Volume = 570 thousand

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Neurocrine Bio. - NBIX - cls: 46.18 chg: +0.32 stop: 50.01

Biotech stocks rallied today thanks in part to a positive safety report from Elan (ELN) on its Tysabri multiple-sclerosis drug. Shares of NBIX rallied this morning but failed to hold its gains. We see no change from yesterday's update.

Picked on August 07 at $ 47.30
Change since picked: - 1.12
Earnings Date 08/03/05 (confirmed)
Average Daily Volume = 543 thousand
 

Dropped Calls

None
 

Dropped Puts

None
 

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