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Call Updates

Apache - APA - close: 76.23 change: +0.88 stop: 72.49

Another strong day for crude oil and a very strong day for natural gas prices helped push APA over the $76 level with a 1.16% gain. Short-term oscillators are looking bullish again after its recent consolidation sideways above the $73 level. Our target is the $79-80 range.

Picked on September 18 at $ 73.42
Change since picked: + 2.81
Earnings Date 10/27/05 (unconfirmed)
Average Daily Volume = 2.6 million

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Apollo Group - APOL - close: 66.64 chg: -0.17 stop: 64.99 *new*

Heads up! APOL's oversold bounce paused today. This was a speculative oversold bounce play to begin with and we'll be very cautious with any signs of weakness. The goal was to catch a quick oversold bounce back toward the $70 region but the intraday chart s looking vulnerable to more selling. We would not suggest new positions. We are raising our stop loss to $64.99. More conservative traders may want to raise their stops even tighter. If APOL closes under $66 we may exit early!

Picked on September 25 at $ 66.09
Change since picked: + 0.55
Earnings Date 10/04/05 (confirmed)
Average Daily Volume = 1.8 million

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Broadcom - BRCM - close: 45.27 chg: +0.18 stop: 42.85

Traders need to be alert here. BRCM is showing more weakness despite today's close in the green. The stock is struggling with its short-term three-week trend of lower highs. Looking at the intraday chart suggests that BRCM will test the $44 level and/or the 50-dma before continuing higher. We would not suggest new plays at this time. Either wait for a bounce from $44 or 50-dma or wait for a new relative high.

Picked on September 25 at $ 45.05
Change since picked: + 0.22
Earnings Date 10/21/05 (unconfirmed)
Average Daily Volume = 7.0 million

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Cardinal Health - CAH - close: 63.09 chg: +0.95 stop: 59.85

The rally in CAH continues and shares added 1.5% on Wednesday with volume rising just above its daily average. The next challenge is the recent high near $63.50. Our target is the $66-67 range.

Picked on September 25 at $ 61.95
Change since picked: + 1.20
Earnings Date 11/04/05 (unconfirmed)
Average Daily Volume = 2.0 million

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Cameco Corp - CCJ - close: 52.75 chg: +0.05 stop: 49.49

The sideways consolidation in CCJ between $50 and $55 seems to be narrowing. We would expect a more decisive move relatively soon. A move over $53.50 or $54 could be used as a new bullish entry point. Our target is the $58-60 range.

Picked on September 18 at $ 53.30
Change since picked: - 0.55
Earnings Date 11/01/05 (unconfirmed)
Average Daily Volume = 862 thousand

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Intuitive Surg. - ISRG - close: 74.45 chg: +0.17 stop: 71.99

The play has been triggered. ISRG continued yesterday's rally and hit a new three-week high at $75.74 today. This triggered the play at $75.11 and helped produce a new MACD buy signal. While the play is officially open we would not initiate positions until ISRG traded back above the $75.00 mark. Our target is the $79.50-80.00 range.

Picked on September 28 at $ 75.11
Change since picked: - 0.66
Earnings Date 10/24/05 (unconfirmed)
Average Daily Volume = 962 thousand

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Altria Group - MO - close: 73.47 change: -0.02 stop: 69.90

MO tagged another new all-time high today but couldn't hold it. The trend remains bullish. We see no changes from our previous updates. Our target is the $78-79 range.

Picked on September 18 at $ 73.14
Change since picked: + 0.33
Earnings Date 10/19/05 (unconfirmed)
Average Daily Volume = 6.7 million

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Noble Energy - NBL - close: 46.60 chg: +0.44 stop: 44.49*new*

Wednesday witnessed another day of gains for energy and shares of NBL followed suit with a gain of 0.95%. We are raising the stop loss to $44.49. Our target is the $49-50 range.

Picked on September 11 at $ 44.90 *post-split price
Change since picked: + 1.70
Earnings Date 11/02/05 (unconfirmed)
Average Daily Volume = 796 thousand
 

Put Updates

Adobe Sys. - ADBE - close: 29.02 chg: +0.62 stop: n/a

ADBE continues to show relative strength and out performed the markets and its peers today. Shares added more than two percent with volume coming in above average. The stock also broke through technical resistance at the exponential 200-dma near $28.65 but failed to breakout over the mid-September peak near $29.50. We want to remind readers that there are two targets to watch. The first target is the options. Our strangle play started with the October $25 put and the October $27.50 call for an investment of $1.55. The initial goal was to exit if we could get a $1.00 or $1.50 profit. Currently the October $27.50 call is trading in the $1.80/1.90 range. Today's high was $1.95 for the call. If the October $27.50 call can trade into the $2.35-2.50 region we would exit. This will probably coincide with our secondary target on ADBE's stock price. If the stock trades in the $29.85-30.00 range we'll exit anyway no matter what the value of the options. This was a strangle play on ADBE's 9/15 earnings report so we're not suggesting new positions.

Picked on September 13 at $ 26.82
Change since picked: + 2.20
Earnings Date 09/15/05 (confirmed)
Average Daily Volume = 6.2 million

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Black & Decker - BDK - close: 81.32 chg: -0.18 stop: 85.05

BDK continues to sink back toward support near $80.00. We see no changes from our previous update. Our target is the $78-77 range.

Picked on September 14 at $ 83.31
Change since picked: - 1.99
Earnings Date 10/25/05 (unconfirmed)
Average Daily Volume = 636 thousand

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Hershey Co. - HSY - close: 56.26 change: -0.06 stop: 58.01

Good news! It looks like the oversold bounce in HSY has failed at the $57.00 level today. This can be used as a new bearish entry point. Just remember that we're targeting a move into the $54.00-53.50 range.

Picked on September 14 at $ 57.90
Change since picked: - 1.64
Earnings Date 10/20/05 (unconfirmed)
Average Daily Volume = 760 thousand

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MBIA Inc. - MBI - close: 58.02 chg: +0.20 stop: 58.75

Shares of MBI continue to show way too much relative strength for our liking. The financial indices were down today but MBI pushed higher and challenged technical resistance at its 200-dma near 58.32 and its 50-dma near 58.44. The high was actually 58.51. The good news is that MBI remains under resistance and its current trend of lower highs. The bad news is this current rally hasn't shown any signs of slowing down. We are not suggesting new plays.

Picked on September 13 at $ 57.75
Change since picked: + 0.27
Earnings Date 11/01/05 (unconfirmed)
Average Daily Volume = 1.2 million
 

Dropped Calls

None
 

Dropped Puts

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