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us stock market, stock recommendation
Begin part 3 of 3
THE PLAYS:
NEW PLAYS:
Upside:
Play Date: 07/29/2008
CSX (CSX Corp.--$64.83; +3.01; optionable): Railroads
http://biz.yahoo.com/p/c/csx.html
EARNINGS: Announced 7-24-08
STATUS: Cup. CSX made us money on the strong run to start 2008, and now that it looks to be completing this 10 week base, it looks ready to make us some money again in the near term. Making a higher low at the 50 day EMA (62.14) the past week, bouncing Tuesday on rising volume. Loving the rails right now and looking for CSX to cover some ground quickly on its break higher.
Volume: 4.501M Avg Volume: 4.958M
BUY POINT: $65.34 Volume=7M Target=$74.95 Stop=$62.15
POSITION: CSX KM - Nov. $65c (56 delta) &/or Stock
http://www.investmenthouse.com/ci/csx.html
Play Date: 07/29/2008
EDU (New Oriental Education & Tech--$74.47; +2.08; optionable): Chinese education and training courses
http://biz.yahoo.com/p/e/edu.html
Announced 7-17-08
STATUS: Cup w/handle. Working on a two week handle to its 10 week base, working laterally on low volume as the 10 day EMA (72.35) rises to meet it. Part of a larger 9 month base, making a higher low here setting up for a new breakout. Volume rose to average Tuesday as EDU made the test of the 10 day and bounced. In great position to make the break higher. A very volatile stock, but a very nice base and it can run like the wind when it gets going.
Volume: 673.242K Avg Volume: 657.128K
BUY POINT: $76.88 Volume=986K Target=$86.95 Stop=$72.22
POSITION: EDU JO - Oct. $75c (52 delta) &/or Stock
http://www.investmenthouse.com/ct/edu.html
Play Date: 07/29/2008
WFC (Wells Fargo--$30.46; +2.53; optionable): Big bank
http://biz.yahoo.com/p/w/wfc.html
EARNINGS: Announced 7-16-08
STATUS: Trend reversal. Announced great earnings to get the financial recovery, at least for the big banks, underway. A solid rally through last week, and a test through Monday to the 50 day EMA (26.77) and then a surge back up Tuesday on strong, above average volume, clearing the down trendline and the 200 day SMA (29.46). Nice action and ready to move in as WFC continues higher.
Volume: 62.309M Avg Volume: 46.979M
BUY POINT: $30.88 Volume=60M Target=$35.95 Stop=$28.72
POSITION: WFC JF - Oct. $30c (59 delta) &/or Stock)
http://www.investmenthouse.com/ci/wfc.html
Play Date: 07/29/2008
WSO (Watsco--$50.42; +1.83; optionable): Wholesale electronics
http://biz.yahoo.com/p/w/wso.html
EARNINGS: Announced 7-17-08
STATUS: Test breakout. Raced higher on strong earnings, clearing an 11 week base that formed using the 200 day SMA (40.33) as support. Spent the past week testing, coming back to the 10 day EMA (48.35) Monday, holding, then breaking higher Tuesday. Tuesday volume was nothing to get all excited about, but really like the pattern and the position for a rapid gain higher. Strong money flow leading the way higher. Ready to move in as WSO continues its move higher.
Volume: 243.401K Avg Volume: 320.312K
BUY POINT: $50.77 Volume=450K Target=$59.95 Stop=$48.22
POSITION: WSO KJ - Nov. $50c (54 delta, 104 OI) &/or Stock
http://www.investmenthouse.com/ci/wso.html
New buy point on a current position:
Play Date: 07/29/2008
BAX (Baxter Intl.--$67.28; +0.24; optionable): Medical instruments
http://biz.yahoo.com/p/b/bax.html
EARNINGS: Announced 7-17-08
STATUS: Test 18 day EMA. Looking to move into BAX as it used the market selling to pullback and consolidate some of its nice gain in July, holding at the 18 day EMA (66.59) on the Tuesday low before rebounding for a gain. Nice breakout from a 6 month base in late June, solid rally. This breakout test is one of our favorite entry points and a great point to move into BAX and take more positions as it continues higher off of the test.
Volume: 2.759M Avg Volume: 3.695M
BUY POINT: $67.77 Volume=4.5M Target=$76.38 Stop=$65.91
POSITION: BAX KM - Nov. $65c (66 delta) &/or Stock
http://www.investmenthouse.com/ci/bax.html
Good Investing!
Jon L. Johnson and your Technical Traders Report Team
All of the foregoing is commentary for informational purposes only. All statements and expressions are the opinion of Online Investment Services, LP. or its paid consultants and are not meant to be a solicitation or recommendation to buy, sell, or hold securities. We are not licensed or registered in the securities industry. The information presented herein and on our related web site has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. The security portfolio of Partners in Online Investment Services, LP. or its paid consultants may, in some instances, include securities mentioned herein and on our web site. Estimates, assumptions and other forward-looking information are subject to the limits of forecasting. Actual future developments may differ materially due to many factors.
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us stock market
stock recommendation
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