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us stock market, trade stock
Begin part 3 of 3
THE PLAYS
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http://www.investmenthouse.com/ihmedia/DailyPlays.htm
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We apologize for the delay this evening. Some of the team had difficulty getting back from the Gustav flight.
Upside:
Play Date: 09/02/2008
IBB (NASDAQ Biotech ETF--$85.18; -0.72; optionable)
http://biz.yahoo.com/p/i/ibb.html
STATUS: Test 50 day EMA. Made us some very nice scratch on its last run in July, and now that it has tested that move with this slide to the 50 day EMA (84.76) it is ripe for a new run and a new buy. Broke out of a 10 month base in July and this move to the 50 day EMA is its first test. Ran to a 7 year high on that move and it needed a rest. Now it is in position to make the next run and when it jumps on more solid trade we are ready to move in.
Volume: 2.199M Avg Volume: 1.314M
BUY POINT: $86.74 Volume=2M Target=$97.55 Stop=$84.65
POSITION: IBB LQ - Dec. $85c (59 delta) &/or Stock
http://www.investmenthouse.com/ci/ibb.html
Play Date: 09/02/2008
RMD (Resmed--$46.38; -0.42; optionable): Medical appliances
http://biz.yahoo.com/p/r/rmd.html
EARNINGS: Announced 8-5-08
STATUS: Double bottom w/handle. Solid trade Tuesday as RMD gapped to the 10 day EMA (45.65) but then rebounded. It has formed an 8 month base, gapping higher on its August earnings to finish the second bottom of the base. Moved laterally in August to consolidate, breaking higher again last week. After this test looking for RMD to bounce again for a new entry point as it moves toward the prior high at 54. That is our initial target.
Volume: 1.378M Avg Volume: 913.666K
BUY POINT: $47.48 Volume=1.2M Target=$53.95 Stop=$45.15
POSITION: RMD AI - Jan. $45c (68 delta, 263 OI) &/or Stock
http://www.investmenthouse.com/ci/rmd.html
Downside:
Play Date: 09/02/2008
BIG (Big Lots--$30.22; +0.65; optionable): Discount, fire sale merchandise
http://biz.yahoo.com/p/b/big.html
EARNINGS: Announced 8-26-08
STATUS: Double top. Twin peaks, one in June, one in August, then tumbling through the 50 day EMA (31.09) last week. It rebounded Tuesday, tapping the 50 day on the high, but then it slid back to close below the 90 day SMA (30.54). Tombstone doji below resistance and under distribution (high volume selling). Looking for it to fill the Tuesday gap on the market hoopla, and when it does we are ready to move in. A moved down to the target lands a 50%ish gain.
Volume: 3.141M Avg Volume: 3.265M
BUY POINT: $29.74 Volume=4M Target=$26.55 Stop=$31.31
POSITION: BIG VZ - Oct. $32.50p (-60 delta)
http://www.investmenthouse.com/ci/big.html
Play Date: 09/02/2008
DE (Deere & Co.--$68.71; -1.86; optionable): Farm, construction machinery
http://biz.yahoo.com/p/d/de.html
EARNINGS: 11-26-08
STATUS: Put. Rallied back over the 50 day EMA (70.22) Thursday, but then reversed the move Tuesday on stronger trade. Lower high and money flow continues to abandon the stock. Looking for a move below the 18 day EMA (68.20) to give us the entry point. A move to the initial target lands a 45%ish gain.
Volume: 5.629M Avg Volume: 5.752M
BUY POINT: $68.12 Volume=6M Target=$64.54 Stop=$69.22
POSITION: DE VN - Oct. $70p (-54 delta)
http://www.investmenthouse.com/ci/de.html
Play Date: 09/02/2008
QID (QQQ Proshares UltraShort ETF--$43.40; +1.09; optionable)
http://biz.yahoo.com/p/q/qid.html
STATUS: With NASDAQ 100 breaking below its recent range we are looking for opportunity to play that breakdown. The QID is nice because it gives us an upside play that many investors prefer to the downside; kind of an upside down play. Nice surge Tuesday as NASDAQ 100 broke lower. Looking to move in as NASDAQ 100 continues the move lower, giving QID a nice rise higher. Looking for a move up near its prior peak in July to start. That gives us a 70%ish gain on our option position.
Volume: 46.867M Avg Volume: 43.451M
BUY POINT: $43.82 Volume=50M Target=$47.92 Stop=$42.11
POSITION: QID JQ - Oct. $43c (56 delta)
http://www.investmenthouse.com/ci/qid.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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us stock market
trade stock
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