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trend trading stock, stock trading site
Begin part 3 of 3
Now looking for a rebound move to get things started to the upside and we see where it goes from there.
Upside:
Play Date: 10/06/2008
DIA (Diamonds Trust (DJ30 EFT)--$99.90; -3.30; optionable)
STATUS: Trend reversal. Looking for a bounce after the gap lower, 800 point selloff, then rebound into the close. Looking for a bounce up to near the 18 day EMA (108.12) to get things started off.
Volume: 49.88M Avg Volume: 26.788M
BUY POINT: $100.11 Volume=35M Target=$107.45 Stop=$99.24
POSITION: DIA LV - Dec. $100c (52 delta)
http://www.investmenthouse.com/ci/dia.html
Play Date: 10/06/2008
IWM (Ishares Russell 2000--$59.72; -2.98; optionable)
STATUS: Rebound. Another stock that sold unmercifully, breaking it down from its 9 month trading range, gapping lower Monday and selling all the way down to 56.38 before reversing on high volume. Ready to rebound, fill the gap, and test the breakdown from the 65ish level at the bottom of the range.
Volume: 172.302M Avg Volume: 120.938M
BUY POINT: $60.11 Volume=155M Target=$64.88 Stop=$59.21
POSITION: IQX LG - Dec. $59c (44 delta)
http://www.investmenthouse.com/ci/iwm.html
Play Date: 10/06/2008
LMNX (Luminex--$21.43; -0.31; optionable): Medical instruments
http://biz.yahoo.com/p/l/lmnx.html
EARNINGS: Early November
STATUS: Test 200 day SMA. Looking at LMNX again as it tapped the 200 day SMA (20.29) on the low and rebounded on strong, above average volume. It sold off from the top of the channel of its 6 month uptrend on very low, below average volume. Tapped key support and bounced on great volume. Looking to play the bounce back up.
Volume: 647.024K Avg Volume: 375.932K
BUY POINT: $21.89 Volume=500K Target=$25.92 Stop=$20.36
POSITION: UQV AD - Jan. $20c (65 delta, 37 OI) &/or Stock
http://www.investmenthouse.com/ci/lmnx.html
Play Date: 10/06/2008
PNC (PNC Finanical--$75.40; +1.25; optionable): Money center banks
http://biz.yahoo.com/p/p/pnc.html
EARNINGS: 10-16-08
STATUS: Double bottom w/handle. Testing the 50 day EMA (71.82) on the lows in the 9 week handle to the 10 month base. Broke to a new all-time high on the announcement of the bailout proposal but then faded to continue work on the handle. Volume was up Monday as PNC tested the 50 day and rebounded for a gain. Strong money flow leading higher. This is one of the strong, the few big banks.
Volume: 4.827M Avg Volume: 5.448M
BUY POINT: $77.89 Volume=7M Target=$88.95 Stop=$74.92
POSITION: PNC AO - Jan. $75c (53 delta) &/or Stock
http://www.investmenthouse.com/ci/pnc.html
Play Date: 10/06/2008
SPTN (Spartan Stores--$26.14; +0.86; optionable): Food wholesaler
http://biz.yahoo.com/p/s/sptn.html
EARNINGS: 10-15-08
STATUS: Double bottom w/handle. Strong volume the past week as SPTN bounced up off the 50 day EMA (23.94), tested the move last Tuesday through Thursday, and then started higher. Nicely formed 12 week pattern that is part of a 15 month cup base. Strong money flow is leading higher. Very solid. Wish some growth stocks had this kind of pattern.
Volume: 319.773K Avg Volume: 181.395K
BUY POINT: $26.32 Volume=275K Target=$31.84 Stop=$24.48
POSITION: QGH AE - Jan. $25c (62 delta, 50 OI) &/or Stock
http://www.investmenthouse.com/ci/sptn.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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