stock recommendation, stock market recommendation

Begin part 3 of 3

THE PLAYS:

Upside:

Play Date: 08/21/2008
AMZN (Amazon.com--$83.26; +1.13; optionable)
http://biz.yahoo.com/p/a/amzn.html
EARNINGS: 10-22-08
STATUS: Double bottom w/handle. Tremendous surge two weeks back pushed AMZN above the 'hump' in its pattern at 85. During the market selling this week it stumbled, but it came back to the 18 day EMA (81.40) and held, falling on low volume after a high volume surge. Started to bounce Thursday, and looking to move in as it continues higher.
Volume: 6.159M Avg Volume: 8.211M
BUY POINT: $84.68 Volume=1.2M Target=$99.65 Stop=$80.88
POSITION: ZQN AQ - Jan. $85c (55 delta) &/or Stock
http://www.investmenthouse.com/ci/amzn.html

Play Date: 08/21/2008
JNY (Jones Apparel Group--$18.68; +0.19; optionable): Apparel
http://biz.yahoo.com/p/j/jny.html
EARNINGS: Announced 7-30-08
STATUS: Double bottom w/handle. Working on the handle shakeout to a 10 month base, holding at the 10 day EMA (18.25) as it makes that shakeout this week. Like how it is holding above the hump at 17.68 on the test, showing solid support at that point to bounce it back up. Huge money flow is leading higher and looking for JNY to surge off this support and follow it.
Volume: 1.485M Avg Volume: 1.674M
BUY POINT: $19.18 Volume=2.5M Target=$23.00 Stop=$17.84
POSITION: JNY AW - Jan. $17.50c (62 delta) &/or Stock
http://www.investmenthouse.com/ci/jny.html

Play Date: 08/21/2008
NSC (Norfolk Southern--$69.54; +1.65; optionable): Railroads
http://biz.yahoo.com/p/n/nsc.html
EARNINGS: Announced 7-22-08
STATUS: Test 50 day EMA. NSC broke out from a 7 week base in late July but it got derailed in August, giving up the breakout. It did fill the late July gap and held the 50 day EMA (67) and started to bounce Thursday. All in all this is where it should hold and continue on higher, maintaining its overall strong uptrend after a big breakout in April. This is its second test of the 50 day EMA since that breakout, indicating NSC still has plenty of upside left ahead of it.
Volume: 2.746M Avg Volume: 3.967M
BUY POINT: $70.68 Volume=5M Target=$84.85 Stop=$66.77
POSITION: NSC LN - Dec. $70c (55 delta) &/or Stock
http://www.investmenthouse.com/ci/nsc.html

Good Investing!
Jon L. Johnson and your IH Alerts 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. Good Investing!

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