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stock recommendation, stock market report
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/DailyPlays.htm
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Upside: Now we see the wheat being separated from the chaff. Some strong upside stocks.
Play Date: 09/04/2008
JAS (Jo-Ann Stores--$25.51; -0.64; 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. Thursday in the market selling JAS held its own with just a modest, lower volume pullback. Very good strength. 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: 684.199K Avg Volume: 913.595K
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/cd/jas.html
Play Date: 09/04/2008
PG (Procter & Gamble--$70.44; -0.98; optionable): Consumer personal products
http://biz.yahoo.com/p/p/pg.html
EARNINGS: Announced 8-5-08
STATUS: Double bottom w/handle. While the market burns and NYSE large caps dive, PG is working on a three week handle to its 9 month base. Love how it is scratching out a solid upside base as the market heads toward the 2008 lows. People have to buy what PG sells even in a weak economy, and thus money is moving Proctor's way. This base has formed over time and that sets a very good foundation for a run higher.
Volume: 12.299M Avg Volume: 13.552M
BUY POINT: $72.11 Volume=16M Target=$80.95 Stop=$69.77
POSITION: PG AO - Jan. $70c (55 delta) &/or Stock
http://www.investmenthouse.com/ci/pg.html
New buy point on current position:
Play Date: 09/04/2008
URBN (Urban Outfitters--$35.94; -0.71; optionable): Teen apparel stores
http://biz.yahoo.com/p/u/urbn.html
EARNINGS: 11-13-08
STATUS: Breakout test. After breaking out in early August form a 14 week double bottom with handle base, URBN spiked higher Tuesday on strong volume, breaking to a new high. URBN then tested back Wednesday and Thursday but on lower, below average volume, holding over the 10 day EMA (35.61) on the Thursday low. Nice break higher, nice orderly test. Looking to move in with more positions as URBN makes its next move higher.
Volume: 2.902M Avg Volume: 3.735M
BUY POINT: $36.68 Volume=3.9M Target=$42.75 Stop=$35.42
POSITION: URQ LG - Dec. $35c (55 delta) &/or Stock
http://www.investmenthouse.com/ci/urbn.html
Downside: Still in position to fall even with the drops the past two sessions.
Play Date: 09/04/2008
BRCD (Brocade Communications--$7.03; -0.22; optionable): Data storage
http://biz.yahoo.com/p/b/brcd.html
EARNINGS: Announced 8-13-08
STATUS: Put. Gapped sharply lower in mid-July, losing over a quarter of its value. It fought back in the market rally, but on very low volume. It hit the 200 day SMA (7.43) in mid-August, again the past week. It failed, falling harder Thursday on rising, above average volume. All the while of the recovery, money flow remained in the toilet. It has turned back down and BRCD looks ready to follow it again. A move to the target lands a 65%ish gain.
Volume: 9.13M Avg Volume: 8.167M
BUY POINT: $6.97 Volume=9M Target=$6.00 Stop=$7.29
POSITION: BQB VK - Oct. $8p (-70 delta)
http://www.investmenthouse.com/ci/brcd.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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stock recommendation
stock market report
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