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trend trading stock, stock trading site
Begin part 3 of 3
THE PLAYS:
Upside:
Play Date: 10/30/2008
MU (Micron Technology--$4.43; +0.55; optionable): Semiconductor memory chips
http://biz.yahoo.com/p/m/mu.html
EARNINGS: Announced 10-1-08
STATUS: Trend reversal. MU is back on the report as it showed a strong volume surge Wednesday and moved up just through the 50 day EMA (4.37) on the close for the first time since June. After a 6 week up and down trading range we are looking for this rotation to take MU up and out of this consolidation and reverse the recent trend while giving us a nice gain along the way.
Volume: 15.431M Avg Volume: 22.952M
BUY POINT: $4.57 Volume=30M Target=$7.94 Stop=$4.25
POSITION: MU AH - Jan. $4.00 (73 delta) &/or Stock
http://www.investmenthouse.com/ci/mu.html
Play Date: 10/30/2008
TFSL (TFS Financial--$13.01; +0.34; optionable): Regional banks
http://biz.yahoo.com/p/t/tfsl.html
STATUS: Back on the report as TFSL shows good action on strong, above average volume the past three sessions as it bounces off support at the 200 day SMA (12.05). TFSL was a new issue in April 2007. It broke out of a bit 12 month base in mid-September, blasting out of the base in mid-September. This 6 week lateral move is consolidating that move and we are looking for another break higher on strong volume to show us it is time to buy.
Volume: 847.99K Avg Volume: 660.255K
BUY POINT: $13.48 Volume=1M Target=$16.31 Stop=$12.54
POSITION: UJJ AV - Jan. $12.50c (63 delta) &/or Stock
http://www.investmenthouse.com/ci/tfsl.html
Play Date: 10/30/2008
TJX (TJ Max--$26.70; +0.11; optionable): Discount department stores
http://biz.yahoo.com/p/t/tjx.html
EARNINGS: 11-11-08
STATUS: Double bottom w/handle. Nice surge Tuesday and Wednesday on some good volume, then came back to flat Thursday after gapping higher through the 18 day EMA (26.60). It looks as if it can form a handle over the next few sessions, setting up a breakout from its short 6 week base. It has rallied up to the middle of the hump in the pattern and is pausing. Looking for a handle to form, but if it goes ahead on and breaks higher from here on volume we will look to move in with some positions as it makes the break.
Volume: 7.637M Avg Volume: 8.474M
BUY POINT: $27.48 Volume=12M Target=$31.87 Stop=$25.78
POSITION: TJX AE - Jan. $25c (69 delta) &/or Stock
http://www.investmenthouse.com/ci/tjx.html
New buy point on current position:
Play Date: 10/30/2008
DDM (DJ30 Ultra ETF--$36.50; +1.81; optionable)
STATUS: Double bottom w/handle. DDM looks to be forming something of a handle to its 4 week pattern, tapping at the 10 day EMA on the low and the 18 day EMA on the high. It has already made us money on the initial run off the low and now after it sets up a handle here we are looking to move in as it breaks higher to ride DDM upside with more positions as DJ30 tries a run to 10,000.
Volume: 14.688M Avg Volume: 7.378M
BUY POINT: $37.32 Volume=15M Target=$46.25 Stop=$34.71
POSITION: HXD LK - Dec. $37c (57 delta) &/or Stock
http://www.investmenthouse.com/ci/ddm.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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