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us stock market, trade stock
Begin part 3 of 3
THE PLAYS
Upside:
Play Date: 08/23/2008
AAPL (Apple Computer--$176.79; +2.50; optionable)
http://biz.yahoo.com/p/a/aapl.html
EARNINGS: Announced 7-21-08
STATUS: Cup w/handle. Working on a two week handle consolidation in an 11 month base, AAPL, despite the market selling last week, showed great relative strength as it sets up for another break higher. This is part of a base on base pattern the past 8 months is setting AAPL up for a run at the old high at 200. That is our initial target on this move.
Volume: 15.706M Avg Volume: 30.094M
BUY POINT: $177.89 Volume=35M Target=$199.75 Stop=$173.89
POSITION: APV AP - Jan. $180c (53 delta) or APV JO - Oct. $175c (57 delta) &/or Stock
http://www.investmenthouse.com/ci/aapl.html
Play Date: 08/23/2008
CCC (Calgon Carbon--$19.03; +0.03; optionable): Chemicals
http://biz.yahoo.com/p/c/ccc.html
EARNINGS: Announced 7-31-08
STATUS: Cup w/handle. Big surge on its earnings announcement sent CCC back up to its June highs, a 15 year high. After that surge it moved laterally through Friday, fighting off the market selling to consolidate the blast higher, refusing to give up any ground. Some strong upside volume last week shows buyers still picking up shares. Looking for the breakout from this 9 week pattern to give us a nice entry point to the play and this strong stock.
Volume: 249.839K Avg Volume: 511.318K
BUY POINT: $19.81 Volume=775K Target=$23.85 Stop=$18.61
POSITION: CCC AW - Jan. $17.50c (58 delta) &/or Stock
http://www.investmenthouse.com/cd/ccc.html
Play Date: 08/23/2008
RTK (Rentech--$2.35; -0.05; no options): Synthetic fuels and chemicals
http://biz.yahoo.com/p/r/rtk.html
EARNINGS: Announced 8-11-08
STATUS: Cup w/handle. Gapped higher in early August on the earnings news, clearing a 9 week base formed using the 200 day SMA (1.61) as support. This base follows a 22 month downtrend and then a reversal in May that broke the downtrend. It then faded to test and form this base. Great break higher and then a lateral move the past two weeks, holding its gains, using the 10 day EMA as support. Excellent action, and looking for RTK to make the next break higher and continue the trend reversal move.
Volume: 1.001M Avg Volume: 1.316M
BUY POINT: $2.49 Volume=2M Target=$3.48 Stop=$2.32
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/rtk.html
Play Date: 08/23/2008
WRC (The Warnaco Group--$49.98; +0.46; optionable): Apparel (swimwear, sportswear, intimate apparel)
http://biz.yahoo.com/p/w/wrc.html
EARNINGS: Announced 8-7-08
STATUS: Double bottom w/handle. Excellent action the past 13 weeks, forming this nice base after a strong April to May run that took WRC to a new high. Strong volume as WRC surged higher with some good earnings, trade then tailing off as WRC tested in the market selling, holding near support at the 10 day EMA (49.44). It is ready to make the next run as volume started moving up, coming in above average Thursday and Friday. Ready for WRC to follow its strong money flow higher and give us the new breakout for a run to a new high and beyond.
Volume: 996.507K Avg Volume: 856.474K
BUY POINT: $51.44 Volume=1.3M Target=$60.95 Stop=$47.98
POSITION: WRC AJ - Jan. $50c (58 delta) &/or Stock
http://www.investmenthouse.com/ci/wrc.html
Play Date: 08/23/2008
XLNX (Xilinx--$26.51; +0.22; optionable): Semiconductors
http://biz.yahoo.com/p/x/xlnx.html
EARNINGS: 10-15-08
STATUS: Cup w/handle. Forming the handle to the current 11 week base, part of a larger13 month reverse head and shoulders base, both accumulation patterns that stocks form before strong runs higher. Chips are a group that is firming up and XLNX is showing early leadership potential. Used the 18 day EMA (26.22) on the low last week as support for its handle, and now ready to move in as XLNX makes the break higher.
Volume: 3.338M Avg Volume: 7.138M
BUY POINT: $27.05 Volume=10M Target=$31.95 Stop=$25.74
POSITION: XLQ LE - Dec. $25c (59 delta) &/or Stock
http://www.investmenthouse.com/ci/xlnx.html
New buy point on current position:
Play Date: 08/23/2008
MANT (Mantech Intl.--$59.29; +1.38; optionable): National security software solutions
http://biz.yahoo.com/p/m/mant.html
EARNINGS: Announced 7-30-08
STATUS: Breakout test. After a great surge in late July through early August as MANT moved out of an 8 week base MANT is now moving laterally, holding positive above the 18 day EMA (57.65) as it works sideways, consolidating and setting up for the next run higher. Excellent relative strength and ready to move in as MANT surges out of this nice consolidation.
Volume: 172.643K Avg Volume: 232.38K
BUY POINT: $60.11 Volume=350K Target=$68.95 Stop=$57.48
POSITION: UUN KL - Nov. $60c (55 delta) &/or Stock
http://www.investmenthouse.com/ci/mant.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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