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Call Updates

Apache - APA - close: 77.26 change: +1.66 stop: 72.49 *new*

Energy stocks continue to set new highs. Wall Street is worried that hurricane Rita may cause additional refinery shutdowns and damage to oil platforms in the gulf of Mexico. This sentiment pushed shares of APA to a 2.19% gain and another new all-time high. Our target is the $79.00-80.00 range. We are raising our stop loss to $72.49.

Picked on September 18 at $ 73.42
Change since picked: + 3.84
Earnings Date 10/27/05 (unconfirmed)
Average Daily Volume = 2.6 million

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Cameco Corp - CCJ - close: 54.24 chg: +1.34 stop: 49.49

The higher crude oil climbs the more CCJ looks attractive as an alternative. We see no changes from our previous update. The 51.50-52.00 range should act as short-term support. Our target is the $58-60 range.

Picked on September 18 at $ 53.30
Change since picked: + 0.94
Earnings Date 11/01/05 (unconfirmed)
Average Daily Volume = 862 thousand

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Altria Group - MO - close: 71.63 change: -1.23 stop: 69.90

Three days of heavy losses on the DJIA are finally taking its toll on this Dow component. Shares of MO lost 1.68% and looks poised to trade lower. Readers can watch for the stock to find its next level of support at $71.00 or the $70.00 level. We are not suggesting new plays at this time. We'll watch for a bounce from support first.

Picked on September 18 at $ 73.14
Change since picked: - 1.51
Earnings Date 10/19/05 (unconfirmed)
Average Daily Volume = 6.7 million

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Noble Energy - NBL - close: 46.59 chg: +1.17 stop: 43.24

Another day, another new high for NBL. We are raising our stop loss to $43.24. Our target is the $49.00-50.00 range.

Picked on September 11 at $ 44.90 *post-split price
Change since picked: + 1.69
Earnings Date 11/02/05 (unconfirmed)
Average Daily Volume = 796 thousand

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Noble Corp - NE - close: 70.99 change: -0.17 stop: 67.85

Oddly enough shares of NE are not participating in the energy-sector rally. Investors might be worried about the company's exposure to hurricane Rita, which just became a dangerous category five storm. While we're not going to exit the play just yet we would not suggest new bullish positions until we see a new relative high in the $72.50-72.75 region. Our target is the $78-80 range.

Picked on August 31 at $ 71.30
Change since picked: - 0.31
Earnings Date 10/17/05 (unconfirmed)
Average Daily Volume = 1.8 million
 

Put Updates

Adobe Sys. - ADBE - close: 27.87 chg: +0.13 stop: n/a

We see no change from our previous update. This is a strangle play on ADBE's recent earnings report and we're in wait mode to see how far the post-earnings reaction will run. We are not suggesting new entries.

Picked on September 13 at $ 26.82
Change since picked: + 1.05
Earnings Date 09/15/05 (confirmed)
Average Daily Volume = 6.2 million

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Black & Decker - BDK - close: 80.62 chg: -1.69 stop: 85.05

BDK is performing on cue. We warned readers to watch for a bounce from the $80.00 level. That's what the stock did today. Wait for the failed rally under the $84 level before considering new bearish positions. Our target is the $78-77 range.

Picked on September 14 at $ 83.31
Change since picked: - 2.69
Earnings Date 10/25/05 (unconfirmed)
Average Daily Volume = 636 thousand

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Hovnanian - HOV - close: 50.38 chg: -0.81 stop: 55.01*new*

Homebuilders continue to look weak and shares of HOV lost another 1.58% today. The stock came within five cents of our target 50.25-50.00 range. We are not suggesting new plays. Instead we're suggesting that our readers exit at will. There's no need to wait for that extra five cents and we would expect an oversold bounce from round-number support at the $50.00 mark. We are lowering the stop loss to $55.01.

Picked on September 18 at $ 54.75
Change since picked: - 4.19
Earnings Date 09/07/05 (confirmed)
Average Daily Volume = 1.2 million

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Hershey Co. - HSY - close: 55.48 change: -1.60 stop: 58.01*new*

The sell-off in shares of HSY is really picking up speed now that the stock has broken down from its recent trading range. We are lowering the stop loss to $58.01. Our target is the $54.00-53.50 range.

Picked on September 14 at $ 57.90
Change since picked: - 2.42
Earnings Date 10/20/05 (unconfirmed)
Average Daily Volume = 760 thousand

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MBIA Inc. - MBI - close: 55.75 chg: -1.63 stop: 59.01

The financial sector was hammered lower following yesterday's FOMC decision on interest rates. Shares of MBI gapped lower and closed near their lows of the session. Our target is the $54.25 mark.

Picked on September 13 at $ 57.75
Change since picked: - 1.72
Earnings Date 11/01/05 (unconfirmed)
Average Daily Volume = 1.2 million
 

Dropped Calls

Amer. Intl Group - AIG - cls: 59.40 chg: -1.11 stop: 58.99

Another broad market sell-off and a triple-digit loss in the DJIA sent this Dow component to a 1.8% decline. The breakdown under round-number, psychological support at the $60.00 level and technical support at the simple 200-dma looks like bad news. We are choosing to exit early here. We'll keep an eye on AIG to see if shares rebound from their 100-dma, which is nearing the late August lows.

Picked on September 11 at $ 61.23
Change since picked: - 1.83
Earnings Date 11/08/05 (unconfirmed)
Average Daily Volume = 7.2 million
 

Dropped Puts

None
 

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