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trend trading stock, trade stock
Begin part 3 of 3
THE PLAYS:
Upside:
Play Date: 03/10/2009
CPRT (Copart--$27.71; +1.39; optionable): Auto salvage yards
http://biz.yahoo.com/p/c/cprt.html
After Hours: $26.32
EARNINGS: 03/04/2009
STATUS: Ascending base. Tough times means more business for the salvage yards. CPRT bottomed in December and has made higher lows since, working up toward the constant top near 28. Nice base setting up the breakout move. Money flow is running higher ahead of price and looking for CPRT to make the break higher. Aggressive can move in on a further gain from here. A breakout over 28 is the breakout buy point as well. After hours it was lower, but that was one trade late.
Volume: 904.828K Avg Volume: 949.857K
BUY POINT: $27.88 Volume=1.3M Target=$33.75 Stop=$26.11
POSITION: KQJ EE - May $25c (66 delta) &/or Stock
http://www.investmenthouse.com/ci/cprt.html
Play Date: 03/10/2009
FXI (FTSE Xinhua China 25 Index ETF--$25.61; +1.93; optionable)
After Hours: $25.85
STATUS: Trend reversal. Strong volume as FXI gapped higher Tuesday, clearing the January/February down trendline on the close. FXI made a double bottom on the January and early March lows, an don a continued break of this trendline FXI is in very good position to rally up toward the December, early January highs.
Volume: 44.366M Avg Volume: 37.284M
BUY POINT: $25.74 Volume=50M Target=$30.95 Stop=$24.44
POSITION: FXI EY - May $25c (68 delta) &/or Stock
http://www.investmenthouse.com/ci/fxi.html
Play Date: 03/10/2009
PCU (Southern Copper--$15.44; +1.53; optionable): Copper
http://biz.yahoo.com/p/p/pcu.html
After Hours: $15.50
EARNINGS: 10/28/2008
STATUS: Double bottom. A double bottom within a double bottom has formed this year. After rallying off the 2008 lows PCU rolled over to start the new year, falling into the current 10 week double bottom. Late February and early March PCU formed a short double bottom to make the right bottom of the large double bottom base. Broke higher last, week, tested through Monday, and then broke over last week's high Tuesday. Strong volume as it made the move. Ready to move in as PCU moves higher.
Volume: 6.937M Avg Volume: 5.681M
BUY POINT: $15.68 Volume=6.5M Target=$18.95 Stop=$14.48
POSITION: PCU FC - June $15c (64 delta) &/or Stock
http://www.investmenthouse.com/ci/pcu.html
Downside:
Play Date: 03/10/2009
NVLS (Novellus Systems--$12.26; +0.71; optionable): Chip equipment
http://biz.yahoo.com/p/n/nvls.html
After Hours: $12.26
EARNINGS: 02/04/2009
STATUS: Head and shoulders. Chips bounced Tuesday and many are in good position to move higher. NVLS, however, has set up a bearish head and shoulders pattern over the past 14 weeks. Strong volume as NVLS sold Friday. It bounced Tuesday, but volume fell back below average. Looking for NVLS to roll over and fall back through the neckline. A move to the target lands a 46%ish gain.
Volume: 2.827M Avg Volume: 2.769M
BUY POINT: $11.74 Volume=3.2M Target=$10.55 Stop=$12.38
POSITION: NLQ PV - Apr. $12.50p (-47 delta)
http://www.investmenthouse.com/ci/nvls.html
Continuing plays in good position:
Play Date: 03/05/2009
QCOM (Qualcom--$35.36; +2.36; optionable): Telecom equipment, cellular circuitry licensing
http://biz.yahoo.com/p/q/qcom.html
After Hours: $34.98
EARNINGS: 01/28/2009
STATUS: Trading range. QCOM looked on the verge of breaking from its 12 week trading range to start March, but then it plunked back down to the bottom of the range Friday and Monday. Bounced right back Tuesday on strong upside volume. Made the highest closing price in three weeks and looks great for a breakout move.
Volume: 33.44M Avg Volume: 21.489M
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
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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