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Call Updates

Anadarko Petrol. - APC - close: 89.40 chg: +0.01 stop: 85.98

A minor pull back in crude oil prices sparked some profit taking in the oil sector and the OIX index lost 1.12% while the OSX services index lost 1.17%. Yet shares of APC managed to cling to positive territory by only the smallest of margins but it remains positive nonetheless. Traders can choose to look for a potential dip toward the 40-dma near 86.60 as a new bullish entry point or wait for another trade back above the $90.50 level. Our target is the $94.75-95.00 range.

Picked on August 11 at $ 90.51
Change since picked: - 1.11
Earnings Date 07/29/05 (confirmed)
Average Daily Volume = 2.0 million

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Danaher - DHR - close: 55.70 chg: -0.22 stop: 53.99

If DHR doesn't break out above its three-week trend of lower highs in the next day or two then bulls may be in trouble. Of course we've been suggesting that readers watch for a dip back toward the $54.50 region near its simple 200-dma for days now. One of our suggestions over the weekend was to exit any open plays to conservative capital and wait for the bounce from the 200-dma as a potential new entry point. We are not suggesting new plays at the moment as DHR does look poised to move lower.

Picked on August 03 at $ 56.67
Change since picked: - 0.97
Earnings Date 07/21/05 (confirmed)
Average Daily Volume = 1.5 million

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Sears Holdings - SHLD - cls: 144.89 chg: -1.03 stop: 139.99

Lack of follow through on Friday's bounce from the bottom of its rising channel should make bulls go "hmmm...". We are still bullish on SHLD but today's relative weakness might suggest another retest of support in the 140.00-141.50 region. If you're nimble enough try to buy a bounce from the exponential 200-dma near 141.25. More conservative traders who might like more momentum on the way up can wait for a new relative high over $145.80 or $146.00. Our target is the 151-152 range.

Picked on August 14 at $145.92
Change since picked: - 1.03
Earnings Date 09/08/05 (confirmed)
Average Daily Volume = 3.2 million
 

Put Updates

Best Buy Co - BBY - close: 50.55 chg: +0.94 stop: 52.51

Bears might need to turn a bit defensive here. BBY has rebounded strongly on Monday adding 1.89%. Our weekend update did predict that BBY would continue to bounce but the move over $50.00 did break BBY's short-term two-week trend of lower highs. We would not suggest new bearish positions until BBY traded back under $49.50. Our target is the $45.50-45.00 range.

Picked on August 08 at $ 49.31
Change since picked: + 1.24
Earnings Date 09/13/05 (unconfirmed)
Average Daily Volume = 5.0 million

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Carnival Corp - CCL - close: 50.23 chg: -0.23 stop: 54.01

We see no change from our weekend update. CCL continues to sink but we'd expect a small bounce from the $50.00 level, which is typically round-number support. Our target is the $47.75-47.00 range.

Picked on August 10 at $ 51.79
Change since picked: - 1.56
Earnings Date 09/15/05 (unconfirmed)
Average Daily Volume = 2.5 million

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Eastman Chemical - EMN - close: 52.40 chg: +0.07 stop: 55.01

There is no change here from our weekend update. EMN continues to look bearish. Our target is the $50.50-50.00 range.

Picked on August 05 at $ 53.90
Change since picked: - 1.50
Earnings Date 07/28/05 (confirmed)
Average Daily Volume = 872 thousand

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Fedex Corp - FDX - close: 85.06 chg: +0.41 stop: 86.01

We remain on the sidelines as we wait for FDX to breakdown from its current consolidation pattern. Our suggested entry point is $82.99 but more aggressive traders may want to buy puts under $84.00.

Picked on August 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: 36.66 chg: -0.59 stop: 40.01

No change from our weekend update. FFIV continues to show weakness with another 1.5% decline on Monday. Our target is the $35-34 range.

Picked on August 03 at $ 38.76
Change since picked: - 2.10
Earnings Date 07/20/05 (confirmed)
Average Daily Volume = 1.4 million

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Google - GOOG - close: 284.00 chg: -5.72 stop: 300.01

Surprise, surprise! The market managed a bounce today but the rebound in GOOG failed to breakout over its simple 50-dma. Looking at the intraday chart there appeared to be three separate rally attempts and each one failed under the $292.80 mark. Then unexpectedly GOOG began to sell-off sharply late this afternoon. The entire day looks like the sort of failed rally entry point bears have been looking for. We certainly see it as a new entry point to buy puts. There was some speculation that the negative afternoon was a reaction to GOOG's 10-Q filing but we also see it as part of the ongoing four-week trend of lower highs. There was also news that Yahoo! (YHOO) claims to have surpassed the number of webpages that GOOG claims its search engine has indexed. Our target is the $260-255 range. Remember, this is an aggressive, high-risk play.

Picked on August 11 at $284.50
Change since picked: - 0.50
Earnings Date 07/21/05 (confirmed)
Average Daily Volume = 13.6 million

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KOS Pharma - KOSP - close: 72.90 chg: -0.22 stop: 72.51

There is no change here from our weekend update. We think the stock has produced a top. The upward momentum has definitely slowed. Our suggestion is to buy puts on a decline below the recent lows to catch some overdue profit taking. Our trigger to buy puts is at $68.25. If opened our target is the $62-60 range.

Picked on August xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 08/04/05 (confirmed)
Average Daily Volume = 642 thousand

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Lehman Brothers - LEH - cls: 105.14 chg: +0.38 stop: 107.01

We have nothing new to report on for LEH. Shares continue to consolidate sideways between $104 and $106. Our target is the $100 level.

Picked on July 21 at $105.13
Change since picked: + 0.01
Earnings Date 06/14/05 (confirmed)
Average Daily Volume = 2.7 million

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3M Co. - MMM - close: 72.18 change: +0.24 stop: 75.11

MMM broke down this morning under support near the $72 level but the stock managed a quick bounce back into the $72-73 range. Shares do look a little short-term oversold and the lows today were near the early July lows. Plus, the low today was near the 200-week moving average we mentioned over the weekend. Thus we're not surprised that a few brave bulls decided to buy the dip this morning. The 50-dma near $75 should act as resistance. Our target is the $70-68 range.

Picked on July 19 at $ 74.29
Change since picked: - 2.11
Earnings Date 07/18/05 (confirmed)
Average Daily Volume = 3.4 million

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Neurocrine Bio. - NBIX - cls: 46.01 chg: +0.90 stop: 48.51

NBIX has finally produced an oversold bounce after testing support at the $45.00 mark for the last four days. We would expect a rebound toward the 10-dma near $47.00 and maybe even the $48 level before NBIX turns lower again. Watch for the rally to fail as a new bearish entry point.

Picked on August 07 at $ 47.30
Change since picked: - 1.29
Earnings Date 08/03/05 (confirmed)
Average Daily Volume = 543 thousand

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United Parcel Svc - UPS - cls: 73.00 chg: -0.06 stop: 74.21

We see no change from our weekend play description discussing UPS as a candidate. Our suggested entry point to buy puts is at $71.99. If triggered our target is the $68.00-67.00 range.

Picked on August xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 07/21/05 (confirmed)
Average Daily Volume = 2.6 million
 

Dropped Calls

None
 

Dropped Puts

None
 

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