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trade stock, stock recommendation
Begin part 3 of 3
THE PLAYS:
Looked all across the market to find some additional plays in position to bounce on a market rebound rally.
Upside:
Play Date: 10/10/2008
AGU (Agrium--$37.62; -0.65; optionable): Agriculture chemicals
http://biz.yahoo.com/p/a/agu.html
EARNINGS: 11-5-08
STATUS: Trend reversal. Working laterally this week after the bit late September to early October drop that took AGU out of a decent 13 week base. Good upside volume and lower on the downside as it works laterally. In great position to make a bounce higher on a market bounce. Rather modest initial target, but with these market conditions that would be a great start.
Volume: 11.49M Avg Volume: 5.876M
BUY POINT: $40.21 Volume=10M Target=$49.75 Stop=$37.40
POSITION: AGU AH - Jan. $40c (48 delta) &/or Stock
http://www.investmenthouse.com/ci/agu.html
Play Date: 10/10/2008
MANT (Mantech Intl.--$49.07; -3.38; optionable): Business software
http://biz.yahoo.com/p/m/mant.html
EARNINGS: 10-29-08
STATUS: Test 200 day SMA. Held up very well in the selling and it finally gave in this week, but in doing so MANT tapped the 200 day SMA (48.92) on the Wednesday low and bounced though Thursday it dumped back down. It did close at the 200 day SMA again so no further breakdown. This is the point where the big money steps in or steps out of the stock. Still in very good shape, especially when you consider the market.
Volume: 348.271K Avg Volume: 254.514K
BUY POINT: $51.36 Volume=385K Target=$58.88 Stop=$48.77
POSITION: UUN BJ - Feb. $50c (50 delta, low OI) &/or Stock
http://www.investmenthouse.com/ci/mant.html
Play Date: 10/10/2008
MOS (Mosaic Company--$36.52; +0.77; optionable): Ag chemicals
http://biz.yahoo.com/p/m/mos.html
EARNINGS: No confirmed date
STATUS: Trend reversal. Another stock that plunged lower in late September and early October, turning a pullback into a major selloff. It found support this week and is working laterally in a rather narrow range. With the market sold out we are looking for rips higher from these stocks and MOS is another one in position to make such a move. Look at all of that volume as it works laterally in a tight range. That is an indication of buyers stepping in as fast as the sellers are selling, indicating the momentum on this stock has changed.
Volume: 24.689M Avg Volume: 9.926M
BUY POINT: $39.65 Volume=20M Target=$49.31 Stop=$36.87
POSITION: MOS AH - Jan. $40c (48 delta) &/or Stock
http://www.investmenthouse.com/ci/mos.html
Play Date: 10/10/2008
USNA (Usana Health Science--$40.50; -0.37; optionable): Drug products
http://biz.yahoo.com/p/u/usna.html
EARNINGS: 10-14-08
STATUS: Cup w/handle. Earnings are next week and USNA is set up pretty well going into the number with this 10 month cup with handle base. USNA has come back to end September and thus far in October, but it found and held the 50 day EMA (37.34) this week, holding that level as support on the lows and bouncing off of that level intraday. Was flat Thursday on low trade as USNA ignored the market selling. In excellent shape to break higher, and ready to move in as it does.
Volume: 149.593K Avg Volume: 259.159K
BUY POINT: $42.11 Volume=400K Target=$48.48 Stop=$39.16
POSITION: UNX AH - Jan. $40c (54 delta, 141 OI) &/or Stock
http://www.investmenthouse.com/ci/usna.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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trade stock
stock recommendation
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