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Begin part 3 of 3
THE PLAYS:
Upside: Testing but also showing continued bids.
Play Date: 06/08/2009
CMED (China Medical Technologies--$24.09; -0.71; optionable): Medical instruments
http://biz.yahoo.com/p/c/cmed.html
After Hours: $24.50
EARNINGS: 03/02/2009
STATUS: Test breakout. CMED surged higher to start June, clearing a six week lateral move that was part of a larger 5 month cup with handle base formed at the bottom of the selloff. Nice volume on the breakout move, clearing the 200 day SMA (22.74) as it made the break. Rallied over 25 and is coming back to test now, moving back toward the 200 day and the 10 day EMA that are now coincident. Bounced off the low Monday, but anticipating that CMED could come back a bit more to test the 200 day fully. If so we pick it up on the rebound.
Volume: 515.202K Avg Volume: 535.423K
BUY POINT: Test 22.75 to 23, then $23.04 on the rebound. Volume=750K Target=$28.85 Stop=$22.32
POSITION: QCY IX - Sept. $22.50c (64 delta) &/or Stock
http://www.investmenthouse.com/ci/cmed.html
Play Date: 06/08/2009
EDU (New Oriental Education & Tech--$57.41; -0.61; optionable): Chinese education and training
http://biz.yahoo.com/p/e/edu.html
After Hours: $57.31
EARNINGS: 04/21/2009
STATUS: Ascending pennant. Broke sharply higher to start June, clearing the January and February peaks that stalled the stock twice in May. Solid break higher and now testing on lower trade, tapping the 18 day EMA on the Monday low (56.50) and rebounding to hold right over the January and February highs on the close. Waiting for the next solid move up off this test to show it is ready to continue the break higher.
Volume: 376.887K Avg Volume: 593.583K
BUY POINT: $58.22 Volume=850K Target=$66.95 Stop=$55.97
POSITION: EDU JK - Oct. $55c (56 delta) &/or Stock
http://www.investmenthouse.com/ci/edu.html
New buy point on current positions:
Play Date: 06/08/2009
IDXX (Idexx Labs--$44.46; -0.61; optionable): Drugs
http://biz.yahoo.com/p/i/idxx.html
After Hours: $44.46
EARNINGS: 07/24/2009
STATUS: Test breakout. IDXX cleared the May peak (43.78 closing) to start June, rallying to 47. It is now testing, fading the past three sessions on low trade, showing a nice tight doji Monday at the 10 day EMA (44.11). Good test of the breakout from the 6 month base formed at the lows. It consolidated with a short three week cup and this test leaves IDXX in very good position to make a new break higher.
Volume: 413.445K Avg Volume: 532.903K
BUY POINT: $45.14 Volume=700K Target=$51.95 Stop=$42.94
POSITION: UID JI - Oct. $45c (49 delta) &/or Stock
http://www.investmenthouse.com/ci/idxx.html
Play Date: 06/08/2009
MBT (Mobile Telesys--$41.18; -1.40; optionable): Russian wireless
http://biz.yahoo.com/p/m/mbt.html
After Hours: $41.18
EARNINGS: 05/26/2009
STATUS: Test breakout. MBT broke out in late May, clearing an 8 week trading range spanning April and May. That move consolidated the early April breakout from a 3 month pattern formed around the February low. Good volume on the break and now a nice lower volume tap at the 10 day EMA (40.50) on Monday. Looking for a higher close on some better trade to give us the buy signal for new positions.
Volume: 1.471M Avg Volume: 2.131M
BUY POINT: $41.65 Volume=2.7M Target=$48.55 Stop=$38.92
POSITION: MBT IH - Sept. $40c (57 delta) &/or Stock
http://www.investmenthouse.com/ci/mbt.html
Play Date: 06/08/2009
NETL (Netlogic Microsystems--$36.67; -0.04; optionable): Semiconductors
http://biz.yahoo.com/p/n/netl.html
After Hours: $36.67
EARNINGS: 04/30/2009
STATUS: Cup w/handle. After a great run through April, NETL went wild late in the month, exploding higher. It came back to test, but it never broke down, holding in the prior channel on the lows in May and then building back up through the start of June, forming a 4 week cup. It is now working on the handle the past week, moving laterally in a flat, tight range on low trade. Refuses to give up any ground so if NETL makes the next break higher we are going to move into some more positions.
Volume: 240.211K Avg Volume: 650.428K
BUY POINT: $37.11 Volume=975K Target=$42.95 Stop=$34.87
POSITION: LKT JG - Oct. $35c (62 delta) &/or Stock
http://www.investmenthouse.com/ci/netl.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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