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trade stock, stock recommendation
Begin part 3 of 3
Full report issues Wednesday.
THE PLAYS:
NEW PLAYS:
Upside:
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
STJ (St. Jude Medical--$47.50; +1.17; optionable): Medical appliances, equipment
http://biz.yahoo.com/p/s/stj.html
EARNINGS: Announced 7-16-08
STATUS: Test breakout. STJ gapped higher on earnings, moving just over 48 as it rallied out of a 14 week cup base, part of a larger 10 month pattern. Big move taking it to the mid-2007 peak, the jumping off point before it takes on the all-time higher near 55. After that break higher it took a break to end July, coming back to the 10 day EMA (46.57) on lower trade. Nice test. Tuesday STJ broke higher on the best volume in three weeks with trade well above average. Excellent money flow. Ready to move in as STJ continues its move higher.
Volume: 5.555M Avg Volume: 3.525M
BUY POINT: $47.77 Volume=3.8M Target=$54.95 Stop=$45.77
POSITION: STJ JI - Oct. $45c (69 delta) &/or Stock
http://www.investmenthouse.com/ct/stj.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 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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trade stock
stock recommendation
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