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world stock market, us stock market
Begin part 3 of 3
*****
NOTE: PART 2 CONTAINING THE CONTINUING PLAY TABLE WILL BE FORWARDED LATER TODAY.
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THE PLAYS
Upside:
Play Date: 08/30/2008
JRJC (China Finance Online--$18.75; +0.66; optionable): Online financial and listed company data in China
http://biz.yahoo.com/p/j/jrjc.html
EARNINGS: Announced 8-28-08
STATUS: Double bottom w/handle. JRJC gapped higher with the strongest volume in three months as it reported earnings that were well received on a weak market day. This started JRJC on the breakout from its 13 week base. This base is part of a much larger 10 month pattern and this current smaller base is the second bottom in that larger pattern that is a double bottom with handle. Excellent money flow is moving well ahead of price. JRJC can give us a great gain even without topping the May highs at 27ish. Our initial target is just below that, but if it is running well we will let part of the position continue on.
Volume: 2.051M Avg Volume: 677.632K
BUY POINT: $19.31 Volume=850K Target=$23.95 Stop=$17.96
POSITION: JQJ LW - Dec. $17.50c (68 delta, 106 OI) &/or Stock
http://www.investmenthouse.com/cd/jrjc.html
Play Date: 08/30/2008
TESO (Tesco Corp.--$33.97; +0.04; optionable): Oil and gas service company
http://biz.yahoo.com/p/t/teso.html
EARNINGS: Announced 8-7-08
STATUS: Cup w/handle. This is a classic cup with handle base. A 12 week pattern formed using the 90 day SMA as support for the lows, rallying higher mid-August, then sliding laterally the past week over the 10 day EMA (33.49), forming the handle shakeout that sets up the breakout move. A much larger base preceded this one, and after a run to a new high out of that pattern this base quickly formed, giving it a breather to start the next run. Excellent pattern and just waiting for the breakout move out of the handle to pile in. Don't care if it is oil and gas and many of those stocks are down; the pattern shows the stock's strength.
Volume: 152.624K Avg Volume: 265.509K
BUY POINT: $35.32 Volume=400K Target=$40.95 Stop=$33.11
POSITION: QET LG - Dec. $35c (46 delta) &/or Stock
http://www.investmenthouse.com/ci/teso.html
Play Date: 08/30/2008
TKLC (Tekelec--$16.41; -0.26; optionable): Telecom processing systems
http://biz.yahoo.com/p/t/tklc.html
EARNINGS: Announced 8-6-08
STATUS: Cup w/handle. It has been a long road for TKLC, but it bottomed in Q1 and rallied well, reaching some old peaks from 2006. It has formed a new base at that level, the current 12 week cup with handle over the 50 day EMA and the 90 day SMA. Nice volume Wednesday and Thursday as it rallied off the 50 day EMA (15.85) then in the Friday market selling it eased back to the 10 day EMA on low volume. Nice higher low in progress and our entry point is a solid bounce on rising trade off of this test of near support.
Volume: 336.185K Avg Volume: 601.752K
BUY POINT: $17.11 Volume=850K Target=$20.48 Stop=$16.08
POSITION: KQ KC - Nov. $15c (74 delta) &/or Stock
http://www.investmenthouse.com/cd/tklc.html
Downside:
Play Date: 08/30/2008
AMAT (Applied Materials--$17.92; -0.58; optionable): Chip equipment maker
http://biz.yahoo.com/p/a/amat.html
EARNINGS: 11-12-08
STATUS: Put. AMAT suffered Friday after the Dell earnings as investors figured if Dell has trouble selling computers it won't need chips and then the chipmakers won't need what AMAT makes. After retaking the 200 day SMA (18.82) the second week in August, it took less than a week to give it up. Tried to bounce and take it again but that wasn't happening. Friday it rolled over on that stronger trade, undercutting the last low. Ready to move in as AMAT continues lower to test the July low. A move to the target lands a 41%ish gain.
Volume: 19.935M Avg Volume: 22.846M
BUY POINT: $17.81 Volume=23M Target=$16.21 Stop=$18.29
POSITION: ANQ VT - Oct. $19p (-41 delta)
http://www.investmenthouse.com/ci/amat.html
Play Date: 08/30/2008
EWC (Canada Index ETF--$30.38; -0.36; optionable)
http://biz.yahoo.com/p/e/ewc.html
STATUS: Put. EWC peaked in May and trended lower through mid-August. Then it recovered two weeks back, gapping up through the down trendline, but no volume on that move. It managed to bounce with the market and made it to the 50 day EMA (30.96) and started to fade Friday. A stock will trend down the 10 and 18 day EMA for 4 to 5 rotations, then break higher to test the 50 day EMA. EWC has made it to the 50 day EMA, showed a doji, and is starting back down. When it moves through the 10 and 18 day EMA (30.11) that is when we move in. A move to the target lands a 60%ish gain.
Volume: 641.587K Avg Volume: 1.631M
BUY POINT: $30.07 Volume=1.7M Target=$28.35 Stop=$30.46
POSITION: EWC VE - Oct. $31p (-52 delta)
http://www.investmenthouse.com/ci/ewc.html
New buy point on current position:
Play Date: 08/30/2008
EEV (UltraShort Emerging Markets ETF--$93.04; +1.74; optionable)
http://biz.yahoo.com/p/e/eev.html
STATUS: Test 18 day EMA. This is the upside play on a downside move. This ETF rises as a basket of stocks from emerging markets decline. Has already made us some good money on a run higher, and as the markets around the world in general enjoyed a relief bound last week, EEV faded to the 18 day EMA. It is now set to resume the move up as the emerging markets had their bounce.
Volume: 289.696K Avg Volume: 941.63K
BUY POINT: $93.22 Volume=950K Target=$99.85 Stop=$90.77
POSITION: EEV JR - Oct. $90c (60 delta)
http://www.investmenthouse.com/ci/eev.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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