|
|
us stock market, stock recommendation
Begin part 3 of 3
THE PLAYS:
Upside: Looking to catch a rebound after DJ30, SP500 violate important lows.
Play Date: 11/20/2008
GLD (Gold ETF--$73.45; +1.19; optionable)
STATUS: Double bottom w/handle. After selling off from the July peak and then again after it could not hold the September bounce during all of the financial issues, gold is setting up a bottom over the past 5 weeks. It may not be the bottom to end the downtrend, but it can certainly take GLD up toward intermediate resistance at 80. If the fear remains high, then the hard resistance at 85 would be the next target to shoot for.
Volume: 13.59M Avg Volume: 17.627M
BUY POINT: $73.89 Volume=20M Target=$84.45 Stop=$72.21
POSITION: GVD CU - Mar. $73c (59 delta) &/or Stock
http://www.investmenthouse.com/ci/gld.html
Play Date: 11/20/2008
QQQQ (Nasdaq 100 Trust--$25.56; -1.30; optionable)
STATUS: Trend bounce. A nasty selloff this month as NASDAQ failed to hold the October low (28.09) and crashed lower this week. Very ugly decline but out of this drop we will look to ride a bounce. It may test lower in the morning though it was decent after hours following the DELL earnings. An aggressive upside play, but when it snaps back it can be a furious move. May test further in the morning and if it does we will follow it down and catch it on the reversal.
Volume: 342.471M Avg Volume: 248.368M
BUY POINT: $25.77 Volume=345M Target=$30.65 Stop=$23.97
POSITION: QAV AY - Jan. $25c (61 delta) &/or Stock
http://www.investmenthouse.com/ci/qqqq.html
New buy point on current positions: Ready to bounce, some off support in good patterns, others after a tail kicking.
Play Date: 11/20/2008
DIA (Diamonds Trust (DJ30 EFT)--$76.06; -4.30; optionable)
STATUS: Trend bounce. DJ30 violated its October low Thursday on heavy volume. While the Dow held up better than the other indices it still broke down. It does not have the rubber band stretched as far as the other indices, but SP500 and NASDAQ are ready to surge back up and they are all going to turn back up together. As with QQQQ, DIA may test further in the morning and if it does we will follow it down and catch it on the reversal.
Volume: 77.925M Avg Volume: 36.356M
BUY POINT: $76.55 Volume=50M Target=$85.88 Stop=$75.21
POSITION: DIJ AX - Jan. $76c (54 delta) &/or Stock
http://www.investmenthouse.com/ci/dia.html
Play Date: 11/20/2008
EMS (Emergency Medical Services--$33.34; -1.04; no options): Emergency medical services
http://biz.yahoo.com/p/e/ems.html
EARNINGS: Announced 10-31-08
STATUS: Test 50 day EMA. Tapped the 50 day EMA on the low (32.26) and then bounced, cutting its losses nicely. Low volume so no heavy selling, just taken lower with the market. In position to bounce and give us another good entry point. EMS formed an 8 week cup and gapped to the breakout on the earnings. Nice rally up over 38 and is now testing, setting up the next move in the breakout.
Volume: 155.569K Avg Volume: 235.335K
BUY POINT: $34.22 Volume=350K Target=$39.95 Stop=$32.21
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/ems.html
Play Date: 11/20/2008
PETS (PetMed Express--$17.34; -0.40; optionable): Mail order pet meds
http://biz.yahoo.com/p/p/pets.html
EARNINGS: Announced 10-20-08
STATUS: Breakout test. PETS is ignoring the market selling, moving laterally along the 18 day EMA (17.34) the past week after breaking higher in late October. That move cleared a short 8 week reverse head and shoulders base that was part of a larger 16 month pattern. A very nice foundation for a run higher. Excellent money flow: people will spend on Rover and Fluffy even in bad times.
Volume: 1.059M Avg Volume: 511.897K
BUY POINT: $18.18 Volume=750K Target=$20.95 Stop=$17.11
POSITION: TRQ CW - Mar. $17.50c (48 delta) &/or Stock
http://www.investmenthouse.com/ci/pets.html
Play Date: 11/20/2008
SPY (S&P Depository Receipts--$75.45; -6.05; optionable)
STATUS: Trend bounce. SPY broke below the 2008 lows Wednesday and then the 2002 lows Thursday. It is getting gutted along with SP500. Nasty selloff this week and after this it is ready to bounce. The selloff was so strong it has plenty of upside to bounce. The bounce should be a sharp one given the nasty selloff. As with the QQQQ, it may test lower in the morning and if it does we will follow it down and look for an early reversal.
Volume: 814.18M Avg Volume: 424.2M
BUY POINT: $75.77 Volume=600M Target=$87.00 Stop=$74.68
POSITION: SZC AW - Jan. $75c (59 delta) &/or Stock
http://www.investmenthouse.com/ci/spy.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!
|
us stock market
stock recommendation
|
