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stock recommendation, stock pick
Begin part 3 of 3
THE PLAYS
Upside: Looking upside after the big dive makes it harder to short here and there are still many early cycle stocks looking great.
Play Date: 09/15/2008
AGN (Allergan--$58.54; -1.20; optionable): Drugs and drug products
http://biz.yahoo.com/p/a/agn.html
EARNINGS: Announced 7-30-08
STATUS: Test breakout. Surged higher last Thursday on huge volume then tested Friday and Monday on much lower trade, holding the 200 day SMA (58.32) on the low. Nice strong breakout from a 7.5 month double bottom with handle base, reversing the trend with that move. Nice base after a strong 1.5 year rally. Ready to pick it up after AGN completes this test.
Volume: 2.972M Avg Volume: 2.487M
BUY POINT: $59.88 Volume=3.5M Target=$68.95 Stop=$57.96
POSITION: AGN AL - Jan. $60c (51 delta) &/or Stock
http://www.investmenthouse.com/ci/agn.html
Play Date: 09/15/2008
CHTT (Chattem--$73.32; -0.07; optionable): Consumer products, personal care
http://biz.yahoo.com/p/c/chtt.html
EARNINGS: Second week of October
STATUS: Double bottom w/handle. Used the market selling to form a nice handle to its 7.5 month base. Broke higher to start the month, showing some good volume. Tested into August and is now moving up its 10 day EMA (72.34). Nice pullback to that level this past week and now it is ready to move higher.
Volume: 459.863K Avg Volume: 423.968K
BUY POINT: $74.36 Volume=450K Target=$84.75 Stop=$71.38
POSITION: HQT LN - Dec. $70c 67 delta, 134 OI) &/or Stock
http://www.investmenthouse.com/cd/chtt.html
Play Date: 09/15/2008
FDO (Family Dollar Stores--$26.98; -0.29; optionable): Discount retail stores
http://biz.yahoo.com/p/f/fdo.html
EARNINGS: 10-3-08 before the open
STATUS: Breakout test. Broke out just over a week back from a 13 month cup with handle pattern. Strong volume on the move shows the buyers were there. Nice lower volume test the past week, tapping at the 18 day EMA (26.05) on the Monday low, then rebounding to hold the 10 day EMA on the close. Excellent position to make the continued breakout move. very solid.
Volume: 3.372M Avg Volume: 4.073M
BUY POINT: $27.55 Volume=6M Target=$34.35 Stop=$25.91
POSITION: FDO AE - Jan. $25c (65 delta) &/or Stock
http://www.investmenthouse.com/ci/fdo.html
Play Date: 09/16/2008
MCD (McDonalds--$63.72; -0.34; optionable): Burgers
http://biz.yahoo.com/p/m/mcd.html
EARNINGS: 10-22-08
STATUS: Breakout test. Looking at MCD again as it holds over the 10 day EMA (63.08) after an impressive recovery off of the early August selling. This follows the early August breakout from an 8 month ascending triangle on strong volume. MCD continues producing strong sales growth, and after this lateral move looking to move into the stock as MCD breaks higher once aain.
Volume: 11.333M Avg Volume: 9.156M
BUY POINT: $65.08 Volume=13M Target=$72.95 Stop=$62.55
POSITION: MCD LM - Dec. $65c (51 delta) &/or Stock
http://www.investmenthouse.com/ci/mcd.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 pick
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