stock recommendation, stock investment information

Begin part 3 of 3

THE PLAYS:

NEW PLAYS:

Upside:

Play Date: 08/07/2008
ACN (Accenture--$41.67; +0.38; optionable): Management consulting services
http://biz.yahoo.com/p/a/acn.html
EARNINGS: Announced 6-26-08
STATUS: Ascending base. Surging volume Thursday as ACN makes a higher low over near support at the 18 day EMA (40.84), ready to make the breakout from its 9 week base. Solid action using the 50 day EMA (39.94) as support in the higher lows with a top at 42. Part of a larger 14 month cup with handle base, a great foundation for a breakout and strong run higher, making a new high along the way.
Volume: 4.475M Avg Volume: 3.223M
BUY POINT: $42.11 Volume=4M Target=$48.45 Stop=$40.69
POSITION: ACN KH - Nov. $40c (57 delta) &/or Stock
http://www.investmenthouse.com/ci/acn.html

New buy point on a current position:

Play Date: 08/07/2008
RIMM (Research in Motion--$127.25; -0.05; optionable): PDA's
http://biz.yahoo.com/p/r/rimm.html
EARNINGS: 9-25-08
STATUS: Reverse head and shoulders. Made the strong break higher Wednesday on strong, above average volume, definitively clearing its 6 week base that often marks the bottom of a correction. Paused Thursday on lower, average trade, setting up to make the next move and fill that gap way up at 140ish. If it gets going similar to the action it showed Wednesday, we are looking for RIMM to challenge the June high up at 147 or so and really give us a nice ride. Very solid.
Volume: 18.472M Avg Volume: 18.703M
BUY POINT: $129.08 Volume=25M Target=$144.95 Stop=$123.77
POSITION: RUL IE - Sept. $125c (59 delta) or RUL LV - Dec. $130c (52 delta) &/or Stock
http://www.investmenthouse.com/ci/rimm.html

Downside:

Play Date: 08/07/2008
FCX (Freeport McMoran--$87.26; -0.41; optionable): Copper
http://biz.yahoo.com/p/f/fcx.html
EARNINGS: Announced 7-22-08
STATUS: Put. Double topped in May and June then rode the 18 day EMA (94.68) lower before falling off the table hard to start August. Bottomed just over 75 and bounced on good volume, but on Thursday as it tried to move through near resistance at the 10 day EMA (90.29) it turned and slipped back down, running out of volume. It is a bit oversold overall, but this 15 point rebound up to near resistance and the close well off the intraday high suggests FCX is going to head back down again. A move to the target lands a 47%ish gain.
Volume: 15.736M Avg Volume: 10.698M
BUY POINT: $86.77 Volume=16M Target=$78.76 Stop=$89.22
POSITION: FCX UR - Sept. $90p (-58 delta)
http://www.investmenthouse.com/ci/fcx.html

Play Date: 08/07/2008
OSG (Overseas Shipholding--$68.33; -5.46; optionable): Shipping
http://biz.yahoo.com/p/o/osg.html
EARNINGS: Announced 7-29-08
STATUS: Head and shoulders. Set up a 12 week head and shoulders then collapsed hard to start August, tumbling on strong volume. Bounced Tuesday and Wednesday on lower trade, then rolled back over Thursday on another strong volume surge, falling back through the 200 day SMA it broke on the Wednesday bounce higher (71.85). It came back up for air, but it now nose down, tail up, heading for the ocean floor with money flow dragging it down toward Davey Jones' locker. A move to the bottom lands a 43%ish gain.
Volume: 1.441M Avg Volume: 782.877K
BUY POINT: $67.78 Volume=1M Target=$62.65 Stop=$70.11
POSITION: OSG UN - Sept. $70p (-48 delta)
http://www.investmenthouse.com/ci/osg.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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