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us stock market, trade stock
Begin part 3 of 3
THE PLAYS:
Upside: Will see if this can deliver at least an oversold bounce.
Play Date: 11/17/2008
EPIQ (Epiq Systems--$14.66; -0.14; optionable): Technology solutions for the legal profession
http://biz.yahoo.com/p/e/epiq.html
EARNINGS: Announced 10-27-08
STATUS: Double bottom w/handle. EPIQ is a stock we buy into from time to time when it sets up. As with most technology based stocks it hit a peak in October 2007 and has been working on a base ever since. It has formed a large 14 month double bottom with handle, the last 8 weeks forming a smaller double bottom with handle. Rallied into the end of October, formed a handle in the first two weeks of November, dipping back to the 18 day EMA (13.68). Volume surged above average Thursday as it surged through the 200 day SMA (13.98) with the rest of the market. Volume was still solid Friday as EPIQ tested the 200 day on the low and rebounded for a slight gain. Very solid action in a weak market. Monday EPIQ held flat on a return to below average volume. Again, very solid.
Volume: 290.241K Avg Volume: 302.512K
BUY POINT: $14.98 Volume=450K Target=$17.95 Stop=$13.93
POSITION: FQU AC - Jan. $15c (52 delta) &/or Stock
http://www.investmenthouse.com/ci/epiq.html
Play Date: 11/17/2008
GXDX (Genoptix--$35.86; +0.43; optionable): Medical labs
http://biz.yahoo.com/p/g/gxdx.html
EARNINGS: Announced 11-6-08
STATUS: Test breakout. GXDX is setting up once more. It surged higher after earnings early in the month, clearing its 3 month cup with handle base. Strong volume on the move. Surged sharply to start last week but then immediately tested back with the market. Held a tap at the 50 day EMA (33.84) and surged on Thursday. Then an immediate fall back to near support at the 18 day EMA (35.15). Volume jumped to the best level in a week Monday as GXDX surged off the 18 day EMA. Didn't hold all the move but shows there is a lot of action in the stock. Looking for a new rise here on decent trade to show us the buy for the next run higher.
Volume: 551.224K Avg Volume: 225.033K
BUY POINT: $36.21 Volume=345K Target=$41.95 Stop=$34.89
POSITION: QGR BG - Feb. $35c (62 delta, low OI) &/or Stock
http://www.investmenthouse.com/ci/gxdx.html
Play Date: 11/17/2008
IWM (Ishares Russell 2000--$45.25; -0.39; optionable)
STATUS: Double bottom. Big reversal Thursday that held the late October bottom. That set the bottom to a potential second bottom in this 7 week pattern. Tight doji Monday shows IWM is trying to stick the landing here on a second bottom. Looking for volume to move back up if the small caps can step up and lead a new bounce higher. Remember, the small caps have been the most aggressive in their upside moves off the October low so we are looking for a potentially sharp move higher to make us some good upside.
Volume: 84.047M Avg Volume: 117.687M
BUY POINT: $45.72 Volume=145M Target=$54.65 Stop=$43.88
POSITION: IWM AS - Jan. $45c (57 delta) &/or Stock
http://www.investmenthouse.com/ci/iwm.html
Play Date: 11/17/2008
PCLN (Priceline.com--$54.73; +0.93; optionable): Online hotels, cars, etc.
http://biz.yahoo.com/p/p/pcln.html
EARNINGS: Announced 11-6-08
STATUS: Trend reversal. After peaking in May 2007 and trending lower into October, PCLN is working laterally in a 5 week base. Showing really good action in a weak market, continuing its consolidation and showing good price/volume action, i.e. rising volume on upside sessions. That shows some accumulation. Showed good price action Monday and looking for some volume to come in and push it higher.
Volume: 1.307M Avg Volume: 1.987M
BUY POINT: $55.32 Volume=3M Target=$64.00 Stop=$53.11
POSITION: PUZ AK - Jan. $55c (54 delta) &/or Stock
http://www.investmenthouse.com/ci/pcln.html
Play Date: 11/17/2008
SMG (Scotts Co.--$28.07; +0.22; optionable): Ag chemicals
http://biz.yahoo.com/p/s/smg.html
EARNINGS: Announced 10-31-08
STATUS: Cup w/handle breakout. SMG trended lower from mid-2007. From mid-September it formed a cup with handle base, breaking out last week when the market rallied and it was announced that SMG's main US competition (Spectracide) was leaving the market. SMG shot higher last Wednesday on strong volume and added to the gains Thursday. Friday it stalled out some, giving back another gain to close flat, holding just over the 200 day SMA (27.66). Same action Monday. It may test some here at the 200 day SMA before it continues the move. Whether it tests or continues, SMG is showing great strength and has plenty of open field to run and spread fertilizer on.
Volume: 947.496K Avg Volume: 832.994K
BUY POINT: $28.31 Volume=1.2M Target=$33.95 Stop=$26.33
POSITION: SMG AE - Jan. $25c (83 delta) &/or Stock
http://www.investmenthouse.com/ci/smg.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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