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WATCH LIST UPDATE - APRIL

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SBAC, ELN OFF THE WATCH LIST AND THEN THERE WAS ONE (TOPT)

SBAC closes well above $23.50 and ELN closes above $14.50 so both are removed froom the currnet WATCH LIST


CURRENT APRIL WATCH - LIST

TOPT ( remains on the WATCH LIST ). Eventhough TOPT remains on WATCH LIST with close under $8.00 ( close at $7.99 gives me a lot better feeling regarding this strinking violet.
Hopefully see can hold on for 2 more trading sessions.

CURRENT WATCH LIST - APRIL 19, 2006

TOPT -only issue


ISSUES OF NOTE:

Once again, in as much as I do not like to hold positions over annoucement. I have to believe that BOTH CAL and RMBS are in pretty good positions. I am actually more concerned about RMBS as it is 21points!!! out of the money and STILL the APRIl 25 PUT has a $0.15 PREMIUM....and still activity in the contract. I can't believe that the earning, even if they are bad and they should be 25% less than last year...However to loss 40% on a earningreport in two days..I just can not believe, however the premium iof $0.15 still amazes me.

As for CAL who sill annouce tomorrow, the drop from $28 over the last week and the big drop 2 days ago, unquestionably was from the High oil prices which translates into higher Fuel prices. That has probably now been discounted enough. In addition, for later quarters the flying customer will ultimately pay the price in higher airfares.

Very unusual to hold one (1), yet two stocks over earnings reports.
Okay let's see what the next 2 trading days and earnings reports bring

Don't forget more MAY PLAYS coming this weekend to add to our two current MAY RECOMMENDED positions

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