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Call Updates

Vangard Emergy Mkts ETF -VWO- cls: 84.75 chg: -1.88 stop: 83.45

The emerging markets ETF was not immune to Thursday's market-wide profit taking. The VWO slipped 2.1% and closed back under the $85.00 level. The only reason we're not suggesting an early exit is because VWO appears to have a decent chance of bouncing near the $84.00 mark. We're not suggesting new positions at this time.

Picked on May 16 at $ 86.15
Change since picked: - 1.40
Earnings Date 00/00/00 (unconfirmed)
Average Daily Volume = 416 thousand

Put Updates

Essex Property - ESS - cls: 118.77 chg: -2.55 stop: 124.26 *new*

ESS sank to a new relative low of $117.04 late this afternoon. We could not find any news to account for the sudden spike higher in the last 15 minutes of trading. We are adjusting our stop loss to $124.26. More conservative traders may want to start taking profits now. Our target is the $115.50-115.00 range. FYI: The P&F chart points to a $100 target.

Picked on May 16 at $124.65
Change since picked: - 5.88
Earnings Date 05/02/07 (confirmed)
Average Daily Volume = 281 million


Las Vegas - LVS - cls: 77.79 change: -2.31 stop: 82.55

It would appear that investors have already forgotten the excitement in the casino stocks from Tuesday. LVS is sliding again and lost 2.88% on strong volume. This looks like another potential entry point to buy puts but our concern would be potential support at the bottom of the gap near $76. Our target is the $71.50-70.00 range. More conservative traders may want to tighten their stops toward the $81.00 level.

Picked on May 07 at $ 79.85
Change since picked: - 2.06
Earnings Date 05/02/07 (confirmed)
Average Daily Volume = 2.1 million


Vital Images - VTAL - cls: 27.42 chg: -0.74 stop: 30.05

Tech stocks were leading the market lower on Thursday. The GSO software index lost 2.49%. Shares of VTAL slipped 2.6% and closed at a new relative low. This looks like a potential entry point for more puts. Our target is the $25.15-25.00 range.

Picked on May 16 at $ 27.99
Change since picked: - 0.57
Earnings Date 04/26/07 (confirmed)
Average Daily Volume = 191 thousand

Strangle Updates


Dropped Calls

Allegheny Tech - ATI - cls: 108.92 chg: -3.92 stop: 110.95

ATI hit our stop loss at $110.95 before lunchtime. The market's weakness sparked some profit taking in ATI and the stock has produced a bearish breakdown under support at its 50-dma and the $110 level. This might actually be an entry point to consider put positions.

Picked on May 08 at $113.45
Change since picked: - 4.53
Earnings Date 07/25/07 (unconfirmed)
Average Daily Volume = 2.4 million


General Dynamics - GD - cls: 78.61 chg: -1.20 stop: 78.85

The broad-market sell-off helped pull GD lower after the stock produced a bearish failed rally at its 10-dma early this morning. Shares hit our stop at $78.85 late this afternoon. Volume came in pretty strong, suggesting more weakness ahead.

Picked on April 29 at $ 80.27
Change since picked: - 1.66
Earnings Date 04/25/07 (confirmed)
Average Daily Volume = 1.4 million


Goldman Sachs - GS - cls: 225.68 chg: -2.86 stop: 226.45

The XBD broker-dealer index under performed the rest of the financials with a 1.5% decline and another bearish failed rally near resistance near the 260 level. Shares of GS succumbed to some profit taking and broke down under its 10-dma and hit our stop loss at $226.45. There is a chance that GS will bounce from the $225 level but we'd rather wait and watch for a dip toward support near $220. On the other hand a breakdown under $220 might be an entry point for puts with a $200 target.

Picked on May 13 at $227.50
Change since picked: - 1.82
Earnings Date 06/12/07 (unconfirmed)
Average Daily Volume = 7.4 million


W.W.Grainger - GWW - close: 84.81 chg: -1.33 stop: 83.24

Warning! Shares of GWW produced a bearish reversal on Thursday. We strongly suggest that readers exit now to cut their losses. The breakdown under what should have been support near $85.00 is not a good sign.

Picked on May 21 at $ 85.25
Change since picked: - 0.44
Earnings Date 07/16/07 (unconfirmed)
Average Daily Volume = 507 thousand


Monster Worldwide - MNST - cls: 46.30 chg: -0.57 stop: 45.89

An intraday dip toward MNST's 50-dma was enough to stop us out at $45.89. We warned readers yesterday that if the markets turned lower we expected MNST to stop us out.

Picked on May 20 at $ 50.08
Change since picked: - 3.78
Earnings Date 07/27/07 (unconfirmed)
Average Daily Volume = 3.6 million


Sempra Energy - SRE - cls: 62.21 chg: -2.31 stop: 61.45

We are suggesting an early exit in SRE. Utility stocks just got hammered today. The normally calm UTY utility index plunged 2.7% and broke down under its 50-dma. Shares of SRE under performed its peers with a 3.5% decline on very big volume. Even though SRE has not yet hit our stop loss this looks like a turning point for the stock. More nimble traders may want to consider buying puts on a decline under $61.50 or under $60.00.

Picked on May 20 at $ 64.05
Change since picked: - 1.84
Earnings Date 08/01/07 (unconfirmed)
Average Daily Volume = 1.3 million


USEC Inc. - USU - close: 22.98 chg: -1.85 stop: 21.99

It was a very rough day for USU. The stock sank almost 7.5% on strong volume. Technicals took a turn for the worse and the two-day pattern definitely looks like a bearish reversal. There is still a chance that USU will bounce in the $22.00-22.50 zone but we don't want to risk it even though this is a high-risk, speculative play. More aggressive traders might want to stick it out. We are suggesting an immediate exit.

Picked on May 20 at $ 23.56
Change since picked: - 0.58
Earnings Date 05/03/07 (confirmed)
Average Daily Volume = 1.8 million

Dropped Puts


Dropped Strangles


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