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Call Updates

AstraZeneca - AZN - close: 63.23 change: +0.24 stop: 59.95

Shares of AZN hit another new high on Monday. We remain bullish and don't see any changes from our weekend play description. Traders might want to wait for a dip towards $62 or even $60 before considering new positions. Our target is the $68.00-69.00 range but our time frame is mid-October.

Picked on August 20 at $ 62.99
Change since picked: + 0.24
Earnings Date 10/26/06 (unconfirmed)
Average Daily Volume = 1.1 million

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Bucyrus - BUCY - close: 51.14 chg: -2.04 stop: 47.69

We warned readers to expect a pull back toward $52 and potentially the $51 level. Shares of BUCY delivered that pull back today. Volume came in pretty light but it was also the lightest volume day of the year for the markets in general. Readers can use a bounce from $51.00 or if the decline continues then a bounce from $50.00 as a new entry point to buy calls. More conservative traders might want to tighten their stops. Our target is the $57.50-60.00 range.

Picked on August 16 at $ 51.87
Change since picked: - 0.73
Earnings Date 10/19/06 (unconfirmed)
Average Daily Volume = 697 thousand

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Carpenter Tech - CRS - close: 97.22 chg: -1.63 stop: 94.99

CRS saw an early morning rally attempt but it failed under round-number resistance at the $100.00 mark. We do not see any changes from our new play description this past weekend. We are suggesting a trigger to buy calls at $100.26. There is potential resistance at its August high near $103.50, which also happens to be near the 50-dma. Traders need to be defensive until CRS clears this level. Our target is the $109.00-110.00 range. It's worth noting that a move over $100 should reverse the P&F chart into a new buy signal.

Picked on August xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 10/25/06 (unconfirmed)
Average Daily Volume = 921 thousand

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Cymer Inc. - CYMI - close: 40.02 chg: -1.13 stop: 39.95

After leading the rally last week the semiconductor stocks were the leaders lower this week as investors locked in some profits. We do not see any changes from our weekend play description on CYMI. We are suggesting a trigger to buy calls at $42.55, which is above the simple 50-dma. If triggered our target is the $47.00-48.00 range. The P&F chart is bullish and points to a $59 target.

Picked on August xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 10/24/06 (unconfirmed)
Average Daily Volume = 1.0 million

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Goldman Sachs - GS - close: 153.83 chg: -0.85 stop: 149.40

The broker stocks experienced some profit taking this morning but traders bought the dip in GS near the stock's short-term trendline of higher lows. This looks like a new entry point to buy calls but more conservative types might want to wait for a new move over $155 before initiating positions. Our conservative target is $160.00. Our secondary target is the $164.50 level. Consider selling half your position at $160 and the rest at $164.50. We do not want to hold over the late September earnings report. FYI: The P&F chart points to a $190 target.

Picked on August 16 at $154.99
Change since picked: - 1.16
Earnings Date 09/21/06 (unconfirmed)
Average Daily Volume = 5.3 million

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MicroStrategy - MSTR - close: 91.10 chg: -2.08 stop: 85.99

MSTR hit some turbulence today. The stock produced a failed rally under its simple 100-dma and closed back under its 200-dma. We would expect a dip toward the $90.00 level and its 10-dma and quite possibly a low as the $87.50 region. Wait for the dip and then a bounce to appear before considering new bullish positions. Our target is the $98.75-99.00 range.

Picked on August 16 at $ 92.05
Change since picked: - 0.95
Earnings Date 10/27/06 (unconfirmed)
Average Daily Volume = 431 thousand

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Piper Jaffray - PJC - close: 55.04 change: -0.66 stop: 49.99

We do not see any changes from our weekend new play description for PJC. We told readers that our preferred entry point would be on a dip and PJC provided one this morning. The pull back may not be over yet but the slight bounce from today's low near the 50-dma does look like an entry point to buy calls. Our short-term target is the $59.90-60.00 range.

Picked on August 20 at $ 55.70
Change since picked: - 0.66
Earnings Date 10/18/06 (unconfirmed)
Average Daily Volume = 300 thousand

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Children's Place - PLCE - cls: 58.37 chg: -1.22 stop: 56.95

Retail stocks were also caught up in the profit taking today. The RLX retail index lost 1.6% and shares of PLCE pulled back with a 2% decline. Aggressive traders might want to consider buying a bounce from $58 or its 50-dma, near 57.00. We're going to wait for a new relative high. Thus we're suggesting a trigger to buy calls at $60.35. If triggered our target is the $64.85-67.00 range. The P&F chart is bullish and points to a $73 target.

Picked on August xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 08/17/06 (confirmed)
Average Daily Volume = 588 thousand

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FreightCar Amer. - RAIL - close: 57.90 chg: -1.23 stop: 53.99

Shares of RAIL dipped toward technical support at its rising 200-dma for the third day in a row and once again traders bought the dip. This looks like a new bullish entry point to buy calls. We don't see any changes from our weekend play description for RAIL. More conservative traders may want to strongly consider waiting for a breakout past the $60.00 level first. Our short-term target is the $64.50-65.00 range.

Picked on August 20 at $ 59.13
Change since picked: - 1.23
Earnings Date 10/26/06 (unconfirmed)
Average Daily Volume = 475 thousand

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Ryland Group - RYL - close: 42.29 change: -1.69 stop: 39.95

The homebuilders definitely saw some profit taking today after last week's rally. The strength of the pull back was sharper than we would have expected especially in shares of RYL, which lost over 3.8% today on low volume. Fortunately, we are still on the sidelines waiting for a breakout over resistance near $45.00. We're suggesting a trigger to buy calls on RYL at $45.15. Our short-term target is the $49.90-50.00 range, which might also see resistance at its descending 100-dma. Right now our biggest concern is Toll Brothers (TOL), who is a rival homebuilder and due to report earnings on the morning of August 22nd. TOL's results and their comments could undermine any rally in the builders.

Picked on August xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 10/18/06 (unconfirmed)
Average Daily Volume = 1.7 million

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Valero - VLO - close: 62.70 change: +0.86 stop: 59.99

Oil stocks bounced today. Crude oil futures rebounded on strong rhetoric coming from Iran, which is saying that it will not give in to U.N. demands to stop enriching uranium. Another potential cause for a spike in oil is tomorrow, August 22nd. There has been some commentary that August 22nd this year is an Islamic holy day and the world might see new acts of terrorism. At this time we do not see any changes from our weekend new play description on VLO. Our target is the $66.00-67.00 range.

Picked on August 20 at $ 61.84
Change since picked: + 0.86
Earnings Date 10/31/06 (unconfirmed)
Average Daily Volume = 9.1 million
 

Put Updates

Boeing - BA - close: 76.63 change: -0.99 stop: 80.45

Shares of BA continue to slip lower and the stock lost 1.27% today albeit on low volume. The stock is nearing potential technical support at its simple and exponential 200-dma(s). Aggressive traders may want to open positions here while conservative traders might still want to wait for a breakdown under support at $75.00 first. Our target is the $70.50-70.00 range. The P&F chart currently points to a $70 target. FYI: There were a couple of articles out today about former auditors who worked for BA claiming that the company made the 737-model of planes with defective parts between 1994 and 2002.

Picked on August 10 at $ 75.75
Change since picked: + 0.88
Earnings Date 10/25/06 (unconfirmed)
Average Daily Volume = 4.2 million

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Burlington Nor.SantaFe - BNI - cls: 66.07 chg: -2.38 stop: 70.25

One again it looks like the "trend is your friend" maxim works for us. BNI had rallied back toward resistance but the rally failed and the stock lost 3.47% today. Traders might want to use today's decline as a new entry point to buy puts. Our target remains the $62.50-60.00 range. The P&F chart currently points to a $49 target.

Picked on August 08 at $ 68.06
Change since picked: - 1.99
Earnings Date 10/24/06 (unconfirmed)
Average Daily Volume = 2.7 million

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Chipotle Mex Grill - CMG - close: 51.10 chg: -0.71 stop: 54.01

The bounce continues to fade in CMG. Traders can choose to buy puts here or wait for a new decline under the $50.00 mark. We don't see any changes from our weekend update. The Point & Figure chart points to a $39 target. We are targeting a decline into the $45.50-45.00 range.

Picked on August 09 at $ 50.28
Change since picked: + 0.82
Earnings Date 10/30/06 (unconfirmed)
Average Daily Volume = 414 thousand

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Intuitive Surgical - ISRG - cls: 96.43 chg: -0.33 stop: 101.55

We are growing more surprised at ISRG's lack of volatility. The stock has been trading in a narrow range the last few days and the range is getting tighter. That's a sure sign that we should see a breakout relatively soon. The only problem is that the breakout move could go either direction. At this time we're suggesting that traders wait for another decline under $95.00 before considering new put plays. This remains an aggressive, higher-risk play due to ISRG's volatility. Our target is the $87.75-87.50 range. The P&F chart currently points to a $60 target but a move over $101-102 would produce a new buy signal.

Picked on August 10 at $ 94.90
Change since picked: + 1.53
Earnings Date 10/25/06 (unconfirmed)
Average Daily Volume = 1.1 million

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NII Holdings - NIHD - close: 51.02 chg: -0.18 stop: 52.51

NIHD spent most of Friday's session churning sideways and the sideways pattern continued into today. We do not see any changes from our weekend update on NIHD. We would not consider new put positions in NIHD until shares traded back under $49.90 again. The P&F chart is still bearish and points to a $41 target. Our target is the $45.50-45.00 range.

Picked on August 07 at $ 49.90
Change since picked: + 1.12
Earnings Date 07/27/06 (confirmed)
Average Daily Volume = 2.2 million

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Transocean Inc. - RIG - cls: 68.33 chg: +0.30 stop: 70.25

New rhetoric out of Iran helped fuel was had already begun as an oversold bounce from support in crude oil. The rebound in oil lifted the oil stocks and RIG added 0.44% but volume came in relatively low. We're not suggesting new put plays at this time. The stock has already hit our conservative target at $65.25. Our secondary, aggressive target is the $61 level. Currently the P&F chart points to a $49 target.

Picked on August 07 at $ 69.49
Change since picked: - 1.30
Earnings Date 08/03/06 (confirmed)
Average Daily Volume = 6.4 million
 

Strangle Updates

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Dropped Calls

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Dropped Puts

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Dropped Strangles

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