IGT - International Game Technology $37.75 -0.31 (+0.81)

International Game Technology, the world's number 1 supplier of slot machines and computerized casino gaming machines, remains in a firm upward trend. On Thursday, shares of IGT hit a 52-week high of $38.56 before pulling back on news of confirmed acquisition discussions with Silicon Gaming, Inc. (SGIC.OB) in which IGT would pay $45 million for Silicon Gaming. On the positive side, the stock has reached a new 52-week high every day this week. IGT has already announced that it would beat estimates when they formally announce earnings on November 7 after the bell. In the meantime, support is the 5-dma of $37.56, with additional support at the 10-dma of $36.44. Resistance is now at $38.56, Thursday's intra-day high, and then the $40 mark. We would like to see a bounce off of $37.56 or a breakout above $38.56 on midday volume greater than 350,000 shares before we start new plays. We are keeping our stops at $35.50 to protect profits.

Picked on October 10th @ $34.88 Change since picked +2.88

OSIP - OSI Pharmaceuticals Inc. $75.00 -1.13 (+2.94)

Favorable demographics continue to push drug companies to invest heavily in new drug discoveries. This is good news for investors of OSIP, whose core function is pharmaceutical discovery through research and development. Recent estimates show the company is expected to generate earnings growth of roughly 25% over the next five years, which could increase substantially should a favorable political climate prevail. These solid growth prospects have provided a solid foundation for the underlying stock, as witnessed by a long uptrend. Currently, the stock has performed well this week despite an early dip in today's trading. The recent price action is telling us that there may be substantial resistance at the $80 mark. We'll be watching this level carefully for a profit taking opportunity, unless shares can advance sharply through this barrier on good volume (500k shares or better). If the later scenario does unfold, then we'll look for potential entries at $80, with additional resistance to follow at $85. For support, we're only willing to risk retracements back near the 10-dma of $70.95, so set stops just below this level at $70.00. When good volume confirms an advance from support, we'll look for quick entries. Look to the AMEX Pharmaceutical Index (DRG) for hints of strength or weakness in the sector, prior to opening positions.

Picked on October 19th @ $72.25 Change since picked +2.75