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us stock market, trade stock
Begin part 3 of 3
THE PLAYS
Upside:
Play Date: 08/05/2008
AAP (Advance Auto Parts--$43.02; +1.67; optionable): Auto parts stores
http://biz.yahoo.com/p/a/aap.html
EARNINGS: 8-6-08 after the close
STATUS: Double bottom w/handle. AAP is starting the breakout move, rallying on above average volume Tuesday as it clears a 5.5 month base. Got the dips in early July with the market selling, but then rebounded, holding the pattern on some good volume as it recovered. Earnings are out after the close Wednesday so there is some risk at getting in on a continued break higher Wednesday. It has set up a nice base, however, just below a new high, indicating the market anticipates good results. Thus we are looking at taking at least a few positions ahead of the results if it continues.
Volume: 2.842M Avg Volume: 1.764M
BUY POINT: $43.24 Volume=1.8M Target=$51.95 Stop=$41.31
POSITION: AAP LH - Dec. $40c (67 delta) &/or Stock
http://www.investmenthouse.com/ci/aap.html
Play Date: 08/05/2008
CHT (Chunghwa Telecom--$25.91; +0.52; optionable): Chinese telecom
http://biz.yahoo.com/p/c/cht.html
EARNINGS: No date provided yet
STATUS: Cup w/handle. Formed a 4 month shallow cup, fading back late last week to test and make a higher low on the Monday bounce off the 90 day SMA. Tuesday it continued higher though volume did not climb with it. Looking for more trade as CHT continues the break higher. This base formed after CHT rallied January to late March for a 30% gain. This current base is consolidating the gain and laying the lines for the next breakout and run higher.
Volume: 825.767K Avg Volume: 1.106M
BUY POINT: $26.08 Volume=1.5M Target=$30.95 Stop=$24.91
POSITION: CHT LE - Dec. $25c (56 delta, 135 OI) &/or Stock
http://www.investmenthouse.com/ci/cht.html
Play Date: 08/05/2008
GTXI (GTX--$18.78; +1.05; optionable): Biotechnology
http://biz.yahoo.com/p/g/gtxi.html
EARNINGS: Announced 8-5-08 before the open
STATUS: Double bottom with handle. After testing back to the 18 day EMA Monday ahead of earnings, GTXI reported good results and surged Tuesday on a strong shot of volume. That move put it in position to make the breakout from a nice 12 week base that is part of a much larger 16 month pattern. Money flow is strong and GTXI and all we need to see is GTXI show us the breakout on continued solid trade.
Volume: 612.793K Avg Volume: 300.537K
BUY POINT: $19.11 Volume=400K Target=$22.95 Stop=$17.72
POSITION: GQH KW - Nov. $17.50c (66 delta) &/or Stock
http://www.investmenthouse.com/ci/gtxi.html
Play Date: 08/05/2008
URBN (Urban Outfitters--$33.49; +1.67; optionable): Apparel stores
http://biz.yahoo.com/p/u/urbn.html
EARNINGS: 8-14-08 before the open
STATUS: Double bottom with handle. URBN is one of the few retailers in good patterns in position to make the break higher. TJX made its break higher Tuesday. Looking for URBN to do the same out of this 12 week base that formed using the 200 day SMA key support to make the second low in July. Rallied up off that level and has put in a lateral move the past week above the 50 and 90 day MA, showing solid price/volume action with volume spikes on the upside sessions. Money flow is screaming higher ahead of price and URBN looks loaded to and ready to follow it.
Volume: 3.997M Avg Volume: 3.82M
BUY POINT: $34.48 Volume=5.7M Target=$39.95 Stop=$32.07
POSITION: URQ LG - Dec. $35c (55 delta) &/or Stock
http://www.investmenthouse.com/ci/urbn.html
Good Investing!
Jon L. Johnson and The Daily Staff
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 of 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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