Long NTGR, PHM (Today AH), STRA, MSTR into earnings! Drivers for each call: NTGR 22% Short float, beat last QTR and spiked 22%, analyst research, technical picture (double top breakout). July 18 announcement of 70% growth in Asia in 05 PHM, "Bubbelhead CNBC shorts" soaked into the stock and housing is still hot, earnings trend for builders is still bullish! Looking for 100 handle to act as a magnet with potential to follow TOL' s footsteps and announce split. STRA Insider Buys, stock has been bullied and beaten to a pulp (selling overdone) Director insider buy on May 25 Senior VP Insider Buy on June 9 MSTR Low expectations, 30%+ short float, and following deals announced in QTR. Also, COGN announced they were not able to close big deals, I assume if the deals were on the table (open, not closed) someone had to close them. Believe MST may have got some of this business from COGN. Deals announced this QTR: (1) Cingular Deal announced April 26 (2)Container Store, announced May 5 (3) Finan Bank May 17 (4) JAL CARD June 1 (5) Transportation Security Administration June 22 (6) Turkish Airlines June 22 From analyst at JMP: July 15 JMP Securities believes that MSTR may have repurchased about 2.2 mln shares of its common stock on the open market between March 31 and May 31, representing about 13% of its basic shares outstanding and 12% of its diluted shares outstanding. Firm says this repurchase is a positive signal for two main reasons: 1) it suggests the people with the best information about MSTR consider it to be significantly undervalued between $46-$55, and 2) the buyback is accretitive to earnings. Firm raises their 2005 est to $4.13 from $4.10 ($0.38 above consensus). Maintains Outperform and $75 tgt The street and shorts are lining up massively against MSTR with Barney and a low tier broker downgrading today and the 30%+ short float soaked into the stock. I see the favorable risk reward here is a long and have slapped a long on into earnings.