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trend trading stock, stock trading site
Begin part 3 of 3
THE PLAYS: Some familiar names are trying to establish some leaders for the market.
Upside: There ARE some leaders setting up . . .
Play Date: 03/05/2009
FCX (Freeport McMoran--$31.65; -0.56; optionable): copper mining
http://biz.yahoo.com/p/f/fcx.html
After Hours: $31.72
EARNINGS: 01/26/2009
STATUS: Flat base. We have a play on FCX and FCX looks ready to move higher again, making a breakout from a 4 week tight lateral range formed just below the early January recovery high off the low. Gapped out of the range Wednesday, then gapped lower Thursday but rebounded for a modest loss. Very strong action and ready to move in as it makes the next break higher.
Volume: 28.299M Avg Volume: 24.397M
BUY POINT: $31.92 Volume=28M Target=$37.95 Stop=$29.69
POSITION: FCX EF - May $30c (63 delta) &/or Stock
http://www.investmenthouse.com/ci/fcx.html
Play Date: 03/05/2009
ISIL (Intersil Holdings--$10.01; -0.13; optionable): Semiconductors
http://biz.yahoo.com/p/i/isil.html
After Hours: $10.31
EARNINGS: 01/28/2009
STATUS: Ascending base. Nice move off the December low into early February. Then another break higher that month. As the market sold off over the past three weeks, ISIL faded, but it held the 50 day SMA (9.68) and worked laterally in a very tight base. While the market is selling ISIL is one of the stocks quietly building a very solid foundation for a strong break higher. Just going to wait for the breakout move to show itself.
Volume: 3.053M Avg Volume: 3.54M
BUY POINT: $10.48 Volume=5M Target=$12.45 Stop=$9.75
POSITION: UPH DB - Apr. $10c (56 delta) &/or Stock
http://www.investmenthouse.com/ci/isil.html
Play Date: 03/05/2009
QCOM (Qualcom--$34.63; -0.11; optionable): Telecom equipment, cellular circuitry licensing
http://biz.yahoo.com/p/q/qcom.html
After Hours: $34.69
EARNINGS: 01/28/2009
STATUS: Trading range. Nice break of the trend in December as QCOM rallied off the bottom of its sharp August to November selloff. Rallied nicely to early January and then fell into the current 9 week lateral base. Bounced off the low this week and rallied up to the 50 day EMA (34.80) near the top of the range, moving on steadily rising above average volume. Money flow is solidly ahead of price, and looking for QCOM to follow the money and make the breakout move.
Volume: 27.301M Avg Volume: 21.279M
BUY POINT: $35.52 Volume=30M Target=$41.45 Stop=$33.91
POSITION: AAO DZ - Apr. $32.50c (68 delta) or AAO GG - July $35c (57 delta) &/or Stock
http://www.investmenthouse.com/ci/qcom.html
Play Date: 03/05/2009
SWHC (Smith & Wesson--$3.79; +0.09; optionable): Firearms
http://biz.yahoo.com/p/s/swhc.html
After Hours: $3.80
EARNINGS: Announced 12/15/2008. Should announce mid-March but not confirmed
STATUS: Cup w/handle. Surged higher the last week and one-half of February, building the right side of its 6 month base. Made it up to the 200 day SMA (3.69) and stalled. Did not tank, however, instead working laterally over the 10 day EMA (3.44), forming the handle and setting up for a breakout move. Strong volume the past two weeks. Volume jumped Thursday as SWHC made a run at the breakout but faded back. Looks solid. Just waiting for the breakout move to enter the play.
Volume: 1.431M Avg Volume: 660.07K
BUY POINT: $3.91 Volume=1.2M Target=$5.35 Stop=$3.55
POSITION: UWJ FZ - June $2.50c (82 delta) &/or Stock
http://www.investmenthouse.com/ci/swhc.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.
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