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Call Updates

Amer. Intl Group - AIG - cls: 60.35 chg: -0.95 stop: 58.99

As a Dow component shares of AIG definitely struggled as the DJIA index reversed Friday's rally. AIG appears to have broken its short-term two-week trend of higher lows. Currently the stock is testing support near $60.00 and its simple 200-dma. Now that crude oil is spiking higher again the DJIA looks vulnerable so we would not suggest new bullish plays in AIG at the moment. A move over $62.00 might inspire new confidence. More conservative traders may want to adjust their stops closer to the $60 level.

Picked on September 11 at $ 61.23
Change since picked: - 0.88
Earnings Date 11/08/05 (unconfirmed)
Average Daily Volume = 7.2 million

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Apache - APA - close: 76.60 change: +3.18 stop: 69.49

Potential hurricane Rita has sparked new concerns over supplies shortages and shutdowns for the oil and natural gas industries. This fueled a huge move in crude oil and natural gas prices today, which in turned helped power some pretty strong gains in the oil and energy stocks. APA, with exposure to both oil and natural gas, gapped higher to open at $75.10 and then spiked to $77.30 before paring its gains. Traders looking for new bullish entries might want to wait for a pull back toward $74.00 (or 73.50) in an attempt to fill the gap but there is no guarantee that APA will do so. Our short-term target is the $79-80 range.

Picked on September 18 at $ 73.42
Change since picked: + 3.18
Earnings Date 10/27/05 (unconfirmed)
Average Daily Volume = 2.6 million

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Cameco Corp - CCJ - close: 54.70 chg: +1.40 stop: 49.49

CCJ turned in a strong session by adding 2.6% on above average volume. The higher oil rises the more interest there will be in alternative sources like nuclear power. Our target is the $58-60 range.

Picked on September 18 at $ 53.30
Change since picked: + 1.40
Earnings Date 11/01/05 (unconfirmed)
Average Daily Volume = 862 thousand

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Altria Group - MO - close: 72.98 change: -0.16 stop: 69.90

Shares of MO actually managed to hit new all-time highs before sliding backwards under the weight of a negative DJIA. A minor 16-cent gain might be interpreted as a show of relative strength considering that MO could have seen a lot more profit taking. If the broader markets continue to slide we would watch MO for a pull back toward the $71.50 region and buy a bounce there. Our target is the $78.00-79.00 range.

Picked on September 18 at $ 73.14
Change since picked: - 0.16
Earnings Date 10/19/05 (unconfirmed)
Average Daily Volume = 6.7 million

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Noble Energy - NBL - close: 45.65 chg: +0.91 stop: 42.49

The rally in energy stocks helped push NBL to a new all-time high above the $45.00 level ($90 pre-split). Volume was pretty strong. Our target is the $49.00-50.00 range.

Picked on September 11 at $ 44.90 *post-split price
Change since picked: + 0.75
Earnings Date 11/02/05 (unconfirmed)
Average Daily Volume = 796 thousand

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Noble Corp - NE - close: 72.38 change: +2.23 stop: 67.85

Same story, different stock. Fears that tropical storm, soon to be hurricane, Rita will damage and shut down oil and refining operations along the gulf coast has sent crude oil and natural gas prices soaring. This lifted energy stocks and shares of NE have broken out to a new all-time high. We see today's move over $72 as a new bullish entry point. Our target is the $78-80 range.

Picked on August 31 at $ 71.30
Change since picked: + 1.08
Earnings Date 10/17/05 (unconfirmed)
Average Daily Volume = 1.8 million
 

Put Updates

Adobe Sys. - ADBE - close: 28.72 chg: -0.71 stop: n/a

Monday's weakness in tech stocks, driven by rising oil prices, proved to be an excuse to take profits in ADBE. We continue to target the $30.00 level and its simple 200-dma. (Remember, this is a strangle play. We are not suggesting new entries.)

Picked on September 13 at $ 26.82
Change since picked: + 1.98
Earnings Date 09/15/05 (confirmed)
Average Daily Volume = 6.2 million

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Black & Decker - BDK - close: 82.31 chg: -0.89 stop: 87.75

Given the broad market sell-off we honestly would have expected BDK to display more weakness. We see no change from our weekend update. Our target is the $78-77 range.

Picked on September 14 at $ 83.31
Change since picked: - 1.00
Earnings Date 10/25/05 (unconfirmed)
Average Daily Volume = 636 thousand

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Fedex Corp - FDX - close: 77.93 chg: -2.26 stop: 82.01

My, my... amazing what changes in a day's time. As of Friday the transport sector, and shares of FDX, looked poised to bounce higher. The spike in energy prices has sent the transportation sector lower and FDX lost 2.8% to breakdown under support to hit new yearly lows. The stock is nearing our target in the $76-75 range but traders may want to strongly consider taking some profits now and exiting early.

Picked on August 23 at $ 82.99
Change since picked: - 5.06
Earnings Date 09/22/05 (unconfirmed)
Average Daily Volume = 2.0 million

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Hovnanian - HOV - close: 52.87 chg: -1.70 stp: 57.81

Monday's decline of more than three percent certainly looks like a strong follow through on Friday's technical breakdown under support. The stock actually dipped to $51.55 before bouncing. Volume was very heavy. If there is any oversold bounce we would watch for a failed rally under the $55.00 level as a new bearish entry point. Our target is the $50.25-50.00 range.

Picked on September 18 at $ 54.75
Change since picked: - 1.70
Earnings Date 09/07/05 (confirmed)
Average Daily Volume = 1.2 million

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Hershey Co. - HSY - close: 57.65 change: -0.31 stop: 59.51

HSY is still struggling to breakdown under its three-week trading range. More conservative traders may want to wait for a decline under 57.35 before considering new bearish positions. Our target is the $54.00-53.50 range.

Picked on September 14 at $ 57.90
Change since picked: - 0.25
Earnings Date 10/20/05 (unconfirmed)
Average Daily Volume = 760 thousand

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MBIA Inc. - MBI - close: 58.28 chg: +0.08 stop: 59.01

MBI's lack of participation in the market's (and financial sector's) weakness today is certainly an unusual show of strength. The stock remains under resistance at the simple 200-dma (58.50) and the top of its descending channel. Yet we are feeling rather cautious here and more conservative traders may want to exit early just to protect themselves. We are not suggesting new plays at this time.

Picked on September 13 at $ 57.75
Change since picked: + 0.53
Earnings Date 11/01/05 (unconfirmed)
Average Daily Volume = 1.2 million
 

Dropped Calls

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Dropped Puts

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