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us stock market, stock recommendation
Begin part 3 of 3
THE PLAYS:
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NEW: To view the HTML REPORT click the following link:
http://www.investmenthouse.com/ihmedia/AlertsPlays.htm
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Upside: Some excellent upside plays holding against and moving up in spite of the market weakness.
Play Date: 09/03/2008
ABI (Applera Corp-Appliaed Biosystems--$36.46; +0.03; optionable): Scientific, technical instruments
http://biz.yahoo.com/p/a/abi.html
EARNINGS: Announced 7-24-08
STATUS: Test breakout. ABI broke out from an 8.5 month double bottom with handle base in mid-July, pushed by some strong earnings. Rallied to 37 on the move and then slipped into a month-long lateral consolidation, holding the 18 day EMA (36.30) as it tested near support in a very up and down market. Not bad action at all, just sliding laterally, waiting out the indecision. Set up very well to make the move, and with volume starting to edge into it on Tuesday, we want to be ready when it makes the next break and continues higher, moving to a new 7-year high.
Volume: 1.752M Avg Volume: 2.476M
BUY POINT: $37.24 Volume=3M Target=$42.95 Stop=$35.77
POSITION: ABI LG - Dec. $35c (69 delta) &/or Stock
http://www.investmenthouse.com/ci/abi.html
Play Date: 09/03/2008
CHTT (Chattem--$73.34; +3.09; optionable): Consumer products, personal care
http://biz.yahoo.com/p/c/chtt.html
EARNINGS: Announced 7-10-08
STATUS: Double bottom w/handle. Strong volume Wednesday as CHTT started the breakout from its 7 month base formed after CHTT hit a new all-time high in February. Nice run to that point and it needed to consolidate and build a new foundation for a new run. Strong start to the move and looking to start the position as it continues the move and then when it makes the test and holds we will add to that position.
Volume: 612.608K Avg Volume: 448.671K
BUY POINT: $73.54 Volume=450K Target=$84.75 Stop=$70.21
POSITION: HQT LN - Dec. $70c 67 delta, 134 OI) &/or Stock
http://www.investmenthouse.com/ci/chtt.html
Play Date: 09/03/2008
JAS (Jo-Ann Stores--$26.15; +1.55; optionable): Retail
http://biz.yahoo.com/p/j/jas.html
EARNINGS: Announced 8-27-08
STATUS: Ascending base. Got a gap higher on volume last week as JAS announced earnings. It came back and tested the 10 day EMA on the Wednesday low (24.36) and then shot higher on stronger trade. That move takes it out of a 12 week base that finished off a larger 15 month pattern. Excellent run off the low and then this base to consolidate it, and now breaking higher once more. Strong money flow is ready to lead JAS higher.
Volume: 1.034M Avg Volume: 908.488K
BUY POINT: $26.31 Volume=1M Target=$31.45 Stop=$24.11
POSITION: JAS AE - Jan. $25c (58 delta) &/or Stock
http://www.investmenthouse.com/ci/jas.html
Play Date: 09/03/2008
VVUS (Vivus--$9.08; +0.51; optionable): Medical instruments
http://biz.yahoo.com/p/v/vvus.html
EARNINGS: Announced 8-4-08
STATUS: Reverse head and shoulders. Strong volume surge Wednesday as VVUS starts the breakout from a short 5 week base that formed after a good move from May to July. This takes VVUS past the 2004 high and moving to take on the 2002 high. It is in the right sector, has had a good base form under it, and is starting its next leg.
Volume: 1.65M Avg Volume: 847.438K
BUY POINT: $9.18 Volume=1M Target=$11.00 Stop=$8.54
POSITION: QJS LB - Dec. $10c (39 delta) &/or Stock
http://www.investmenthouse.com/ci/vvus.html
Downside:
Play Date: 09/03/2008
ROP (Roper Industries--$58.19; -1.02; optionable): Industrial equipment
http://biz.yahoo.com/p/r/rop.html
EARNINGS: Announced 7-24-08
STATUS: Put. ROP has made us downside money before back in July, and it is set up now to sell some more and make us more money. Made a lower high in mid-August and sold through the 200 day SMA (60.37). Bounced back up to the 200 day to test it Tuesday and turned. Wednesday it was down again. Ready to move in as it continues lower and looking for ROP to makes us around 50% with a run to the target.
Volume: 567.776K Avg Volume: 665.148K
BUY POINT: $57.91 Volume=685K Target=$54.45 Stop=$59.65
POSITION: ROP VL - Oct. $60p (-50 delta)
http://www.investmenthouse.com/ci/rop.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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us stock market
stock recommendation
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