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Call Updates

Kerr Mcgee - KMG - close: 86.50 chg: -0.65 stop: 81.99

Oil stocks ended the day fractionally in the red and KMG followed suit with some minor profit taking. We see no changes from our previous updates. Our short-term target is the $89.50-90.00 range.

Picked on August 21 at $ 85.99
Change since picked: + 0.51
Earnings Date 07/27/05 (confirmed)
Average Daily Volume = 2.4 million

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Sierra Health Svs. - SIE - cls: 66.89 chg: -1.16 stop: 66.95

Uh-oh! SIE is breaking out from its recent trading range and it's going the wrong way if you're bullish. Today's 1.7% decline ended with SIE under technical support at its 100-dma. Now we're not going to give up just yet but if SIE doesn't rebound back above its 100-dma tomorrow we're going to drop SIE as a bullish candidate. Currently we're still on the sidelines with a suggested entry price at $70.11.

Picked on August xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 07/25/05 (confirmed)
Average Daily Volume = 426 thousand
 

Put Updates

Carnival Corp - CCL - close: 50.29 chg: -0.04 stop: 52.51

Short-term technicals are turning bearish again and CCL tested round-number support at the $50.00 level midday. Our target is the $47.75-47.00 range.

Picked on August 10 at $ 51.79
Change since picked: - 1.50
Earnings Date 09/15/05 (unconfirmed)
Average Daily Volume = 2.5 million

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Federated Dept. Stores - FD - cls: 70.99 chg: +0.27 stop: 75.75

The early morning rebound in FD failed but strength in the RLX retail sector helped push the stock back into the green by the close. Look for the $72.00-72.50 region to act as resistance. Our target is the $67-65 range.

Picked on August 22 at $ 71.99
Change since picked: - 1.00
Earnings Date 08/10/05 (confirmed)
Average Daily Volume = 2.2 million

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Fedex Corp - FDX - close: 82.45 chg: +0.07 stop: 86.01

There is not much to report on for FDX today. The stock traded in an 80-cent range. All signals suggest the stock is moving lower. Our target is the $76-75 range.

Picked on August 23 at $ 82.99
Change since picked: - 0.54
Earnings Date 09/22/05 (unconfirmed)
Average Daily Volume = 2.0 million

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F5 Networks - FFIV - close: 39.86 chg: +0.31 stop: 40.01

It doesn't get much closer. FFIV came within one cent of our stop loss at $40.01 today. The bulls just couldn't muster enough momentum to push through this round-number, psychological resistance level today. However, that doesn't mean that FFIV doesn't look poised to breakout above the $40 mark tomorrow. We're not suggesting new plays and more conservative traders may want to exit early right here.

Picked on August 03 at $ 38.76
Change since picked: + 1.10
Earnings Date 07/20/05 (confirmed)
Average Daily Volume = 1.4 million

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Google - GOOG - close: 282.59 chg: +0.02 stop: 290.51

After trading in a $4.00 range today shares of GOOG narrowed into a tighter consolidation range and eventually closed almost unchanged on the session. We see no changes from our previous update. We're not suggesting new plays. Our target is the 100-dma now at $264 (use target range $265-264).

Picked on August 11 at $284.50
Change since picked: - 1.91
Earnings Date 07/21/05 (confirmed)
Average Daily Volume = 13.6 million

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Ingersoll Rand - IR - close: 77.34 chg: +0.04 stop: 80.61

IR barely closed in the green today and the overall trend remains bearish. The high today was a failed rally at its simple 200-dma overhead. We will exit on September 1st to avoid holding over its stock split.

Picked on August 24 at $ 77.49
Change since picked: - 0.15
Earnings Date 07/21/05 (confirmed)
Average Daily Volume = 1.1 million

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Illinois Tool Works - ITW - cls: 84.14 chg: -0.40 stop: 87.35

ITW continues to slip lower despite the bounce in the broader markets. Shares are now testing what could be support near $84 and its simple 50-dma. If there was a spot to bounce it would be here. We'd look for a rebound tomorrow toward the $85 region. Our target is the $80.25-80.00 range.

Picked on August 23 at $ 85.05
Change since picked: - 0.91
Earnings Date 07/21/05 (confirmed)
Average Daily Volume = 1.2 million

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KOS Pharma - KOSP - close: 69.76 chg: +0.11 stop: 72.51

KOSP traded in a very narrow range almost the entire day. We find it significant that there was no follow through on yesterday's rebound even though the markets were generally positive today. Plus, KOSP remains under round-number resistance at the $70 level.

Picked on August 22 at $ 68.25
Change since picked: + 1.51
Earnings Date 08/04/05 (confirmed)
Average Daily Volume = 642 thousand

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3M Co. - MMM - close: 71.30 change: -0.02 stop: 74.46

There was no follow through on Wednesday's rebound in MMM. That's good news for the bears. Our target is the $70.00-68.00 range but more conservative traders may want to exit in the $70.50-70.00 region.

Picked on July 19 at $ 74.29
Change since picked: - 2.99
Earnings Date 07/18/05 (confirmed)
Average Daily Volume = 3.4 million

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Simon Prpty Grp - SPG - close: 75.75 chg: +0.07 stop: 77.26

There is little change in SPG. The stock continues to consolidate sideways. We are suggesting that readers watch for a decline under $74.75 before initiating new positions. Our target is the $71.50-70.50 range near the 100-dma.

Picked on August 18 at $ 75.24
Change since picked: + 0.51
Earnings Date 07/28/05 (confirmed)
Average Daily Volume = 946 thousand

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United Parcel Svc - UPS - cls: 71.91 chg: -0.04 stop: 74.21

Unfortunately, we have little to report on for UPS. The stock spent most of the day in a narrow trading range. We see no change from yesterday's update. We'd prefer to see UPS trade under its 50-dma before initiating new positions. Our target is the $68-67 range.

Picked on August 17 at $ 71.99
Change since picked: - 0.08
Earnings Date 07/21/05 (confirmed)
Average Daily Volume = 2.6 million

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Wynn Resorts - WYNN - close: 48.56 chg: +1.18 stop: 54.01

WYNN produced a bit of an oversold bounce on Thursday but the overall trend remains bearish. Our target is the $45.25-45.00 range.

Picked on August 19 at $ 49.95
Change since picked: - 1.29
Earnings Date 08/01/05 (confirmed)
Average Daily Volume = 2.0 million
 

Dropped Calls

None
 

Dropped Puts

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