us stock market, stock recommendation

Begin part 3 of 3

THE PLAYS:

A few upside that can still make us money in this first bounce off the low. After some more upside we will look at some downside.

Play Date: 10/13/2008
RIMM (Research in Motion--$63.87; +8.59; optionable): Blackberry PDA's
http://biz.yahoo.com/p/r/rimm.html
EARNINGS: 12-18-08
STATUS: Trend reversal/double bottom. RIMM has put in a very short double bottom as it tries to reverse the downtrend selling that started in August. Gapped sharply lower to end September on earnings as it missed. It was torched and solid down to the early May 2007 point where it broke out from a 6 month consolidation. Jumped higher off a reversal Friday, moving just over the 10 day EMA (63.70) on the close. Looking for a snap back rally to the prior gap down point that is also at the January and February 2008 lows. It could rally much further than that and try to fill that gap down from just over 90. That would be quite a move, and likely won't be accomplished until the market overall makes the test of this last low hit Friday. In the interim we will look at riding RIMM up on this bounce for what it will give and then wait for it to test and then come back in again.
Volume: 29.455M Avg Volume: 24.467M
BUY POINT: $64.32 Volume=30M Target=$76.95 Stop=$61.32
POSITION: RFY AH - Jan. $63.38c (60 delta) &/or Stock
http://www.investmenthouse.com/ci/rimm.html

Play Date: 10/13/2008
SPTN (Spartan Stores--$25.35; +1.81; optionable): Wholesale food
http://biz.yahoo.com/p/s/sptn.html
EARNINGS: 10-15-08 after the close
STATUS: Double bottom w/handle. SPTN came right back from the gap lower to the 200 day SMA, and we are looking at it again. Earnings are Wednesday making this a more aggressive play, but like how SPTN continues to set up a very positive upside base, rallying Monday on the strongest volume since June. If it continues higher we are looking at some positions ahead of earnings given its sector and pattern. Strong money flow continues leading higher.
Volume: 595.697K Avg Volume: 196.409K
BUY POINT: $26.31 Volume=275K Target=$30.45 Stop=$24.47
POSITION: QGH AE - Jan. $25c (62 delta, 50 OI) &/or Stock
http://www.investmenthouse.com/ci/sptn.html

Play Date: 10/13/2008
SVR (Syniverse Technologies--$18.60; +2.55; optionable): Telecom services
http://biz.yahoo.com/p/s/svr.html
EARNINGS: 11-5-08
STATUS: Double bottom. Strong volume the past week and again on Monday as SVR posted a solid advance to start the week. SVR was a new issue in Q1 2006; it is still a neophyte. This current 5 month base is part of a large 3 year cup with handle. Money flow has taken a strong turn upside and SVR is very nicely poised to make the break higher.
Volume: 2.054M Avg Volume: 959.854K
BUY POINT: $18.89 Volume=1.4M Target=$22.35 Stop=$17.57
POSITION: SVR LW - Dec. $17.50c (57 delta, low OI) &/or Stock
http://www.investmenthouse.com/ci/svr.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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