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world stock market, us stock market
Begin part 3 of 3
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NOTE: PART 2 CONTAINING CONTINUING PLAY TABLE WILL BE FORWARDED LATER TODAY.
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THE PLAYS:
Upside:
Play Date: 08/30/2008
IIVI (Ii-Vi, Inc.--$43.91; -0.27; optionable): Precision instruments for use by medical, military, security, aerospace industries
http://biz.yahoo.com/p/i/iivi.html
EARNINGS: Announced 8-5-08
STATUS: Test breakout. After a 4 month trading range between 34 and 40, the early August earnings blasted IIVI out of the range. Strongest volume in two months accompanied that move and sent IIVI to 48 on the high. IIVI was up early in the August move higher, and as stocks settled back some it was ready for a rest. Came back to near support at the 18 day EMA (44.02), just where it should test and find support when testing a breakout. Found that level Monday and then moved laterally all week at that level, showing a very tight trading range on below average volume. It has found support and it is holding there. Now it is set to make the next break higher and continue the breakout move. The first test of the breakout is one of our favorite entry points and with a nice doji with tail at the 18 day EMA support Friday, IIVI looks ready to make the next run higher. Beautiful.
Volume: 149.944K Avg Volume: 248.488K
BUY POINT: $44.48 Volume=375K Target=$52.95 Stop=$42.77
POSITION: JIU AI - Jan. $45c (48 delta) &/or Stock
http://www.investmenthouse.com/ci/iivi.html
Play Date: 08/30/2008
NETL (Netlogic Microsystems--$34.73; -0.10; optionable): Semiconductors
http://biz.yahoo.com/p/n/netl.html
EARNINGS: Announced 7-24-08
STATUS: Double bottom w/handle. Amazingly unscathed in the Friday chip selling. All NETL did was tap the 90 day SMA on the low (34.15) and rebound to flat, holding the 10 day EMA on the close. Nice tight flat move over the 18 day EMA (34.45) has formed the handle to NETL's 12 week base. This is the final shakeout before it makes the break higher. Nice pattern, using the 200 day SMA (29.68) as support for the two bottoms, bouncing crisply off that level the first week of August. This pattern is acting as the handle to a large 2.5 year double bottom with handle base. Nice set up for the break higher, and we just wait for NETL to continue its handle formation; we buy when it breaks higher on a jump in volume.
Volume: 318.548K Avg Volume: 948.438K
BUY POINT: $35.88 Volume=1.4M Target=$41.95 Stop=$33.95
POSITION: LKT AG - Jan. $35c (57 delta) &/or Stock
http://www.investmenthouse.com/ci/netl.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
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 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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world stock market
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