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Call Updates

Cymer Inc. - CYMI - close: 43.95 chg: +0.06 stop: 39.95

The rally in tech stocks paused for a second day on Thursday but the NASDAQ, the SOX and CYMI all managed to squeak out a very minor gain. CYMI is still struggling with technical resistance at its 100-dma, directly overhead. We would probably wait for a pull back toward the 10-dma before considering new bullish positions. Our target is the $47.00-48.00 range.

Picked on September 06 at $ 42.55
Change since picked: + 1.43
Earnings Date 10/24/06 (unconfirmed)
Average Daily Volume = 1.0 million

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Hartford Finc. - HIG - close: 85.88 chg: -0.92 stop: 82.99

After four days of gains HIG is seeing a little bit of profit taking. A bounce near $85.00 and its 200-dma can be used as a new entry point but we'd prefer to wait for another move over $86 before considering new positions. Our target is the $91.50-92.00 range, near its May highs. However, we do expect some resistance in the $89-90 region. We do not want to hold over the early November earnings report.

Picked on September 12 at $ 86.29
Change since picked: - 0.41
Earnings Date 11/02/06 (unconfirmed)
Average Daily Volume = 1.4 million

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Manpower - MAN - close: 61.52 chg: -0.86 stop: 57.99

Shares of MAN also experienced some profit taking on Thursday following two days of strong gains. A dip to or bounce near the $60.00 level, which should now act as support, can be used as a new entry point to buy calls. Our target is the $65.00-66.00 range.

Picked on September 12 at $ 60.28
Change since picked: + 1.24
Earnings Date 10/18/06 (unconfirmed)
Average Daily Volume = 900 thousand

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Mettler Toledo - MTD - close: 64.68 chg: +1.02 stop: 59.99

MTD continues to show relative strength. The stock added another 1.6% following the recent bullish breakout. The rising in volume today is another bullish sign. We do not see any changes from our new play description from Wednesday. Our target is the $68.00-69.00 range. Please note that we normally try to avoid playing stocks with average volume this low so traders may want to consider this a higher-risk play. We do not want to hold over the late October earnings report.

Picked on September 13 at $ 63.66
Change since picked: + 1.02
Earnings Date 10/26/06 (unconfirmed)
Average Daily Volume = 169 thousand

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Omnicom - OMC - close: 92.37 chg: -1.07 stop: 88.84

OMC received some positive analyst comments today with a new "out perform" rating but that didn't stop traders from profit taking after six days of gains. Don't be surprised if OMC dips back toward the rising 10-dma (unfortunately, near $90). We would wait for any dip towards $91-90 before considering new positions. Our target is the $96.00-96.50 range. The Point & Figure chart for OMC is very optimistic with a $131 target.

Picked on September 10 at $ 90.97
Change since picked: + 1.40
Earnings Date 10/24/06 (unconfirmed)
Average Daily Volume = 1.1 million

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United Ind. - UIC - close: 53.76 change: +0.21 stop: 49.99

UIC is still creeping higher in spite of some profit taking in the defense sector on Thursday. Volume came in relatively low. We don't see any changes from our previous updates. The stock has already hit our primary target in the $54.75-55.00 range. Our secondary target is the $57.50 level.

Picked on August 27 at $ 51.77
Change since picked: + 1.99
Earnings Date 08/01/06 (confirmed)
Average Daily Volume = 198 thousand
 

Put Updates

EOG Resources - EOG - close: 58.72 chg: -2.06 stop: 64.15 *new*

Yet another decline for crude oil and natural gas futures undermined the energy sector today. Shares of EOG fell 3.38% and closed at a new two-month low. EOG is nearing our target in the $57.50-55.00 range. We are lowering our stop loss to $64.15. More conservative traders may want to take profits right now!

Picked on September 06 at $ 63.85
Change since picked: - 5.13
Earnings Date 10/31/06 (unconfirmed)
Average Daily Volume = 3.3 million

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Express Scripts - ESRX - close: 82.87 chg: -0.65 stop: 82.51

ESRX is slipping lower from the recent test of resistance near the top of its trading range. We're still sitting on the sidelines waiting for a breakdown under support near $80.00. Our suggested trigger to buy puts is at $79.85. If instead shares of ESRX breakout higher then nimble traders might want to consider calls on a move past the $85 level.

Picked on September xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 10/25/06 (unconfirmed)
Average Daily Volume = 1.6 million

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Fluor - FLR - close: 78.99 change: -2.09 stop: 84.05 *new*

Yesterday's failed rally near $82.50 got some follow through today. The stock broke down under the $80.00 level again, which is a new entry point to buy puts. This is a new six-month low and the next level of support appears to be the $75 region. Our target is the $75.50-75.00 range. Please note that we're adjusting our stop loss to $84.05.

Picked on September 10 at $ 81.74
Change since picked: - 2.75
Earnings Date 11/06/06 (unconfirmed)
Average Daily Volume = 863 thousand

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Johnson Controls - JCI - close: 72.95 chg: +0.04 stop: 74.16

There is no change from our previous update on JCI. The stock is trying to creep higher but the bounce seems to be running out of steam. We're not suggesting new positions at this time. If we do not get stopped out tomorrow this week's bounce has still produced a bullish engulfing candlestick pattern on the weekly chart and that's bad news for the bears. More conservative traders might want to think about cutting their losses early right here.

Picked on August 22 at $ 72.96
Change since picked: - 0.01
Earnings Date 10/19/06 (unconfirmed)
Average Daily Volume = 1.3 million
 

Strangle Updates

None
 

Dropped Calls

None
 

Dropped Puts

Radian Group - RDN - close: 60.95 chg: +0.05 stop: 61.16

There was not much of a rally today in RDN but the intraday high was enough to stop us out at $61.16. This might be a case of us having our stop loss too tight since shares are still trading near their six-week trendline of resistance (lower highs). Keep an eye on RDN for another decline under $60-59-58 as a potential entry point for more put plays.

Picked on September 06 at $ 58.99
Change since picked: + 1.96
Earnings Date 10/18/06 (unconfirmed)
Average Daily Volume = 722 thousand
 

Dropped Strangles

None
 

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