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trade stock, stock recommendation
Begin part 3 of 3
THE PLAYS:
Upside:
Play Date: 06/09/2009
BNI (Burlington Northern--$76.32; -0.57; optionable): Railroads
http://biz.yahoo.com/p/b/bni.html
After Hours: $76.50
EARNINGS: 07/23/2009
STATUS: Flat/flying plateau. BNI broke over a key resistance level at 75 to start June. That was a key move for us; we toyed with putting the stock on the report toward the end of May when it was at 70ish and that resistance was close at hand. After that burst higher through that resistance and the 200 day SMA (74.67) it has held the move, working laterally in a nice tight flat range since. Tuesday it showed a tight doji on the best volume in a week though it was still below average. It is not giving up the move and we are just letting it show us the break higher to move in.
Volume: 2.812M Avg Volume: 3.204M
BUY POINT: $77.11 Volume=4.5M Target=$88.95 Stop=$73.05
POSITION: BNI JO - Oct. $75c (51 delta) &/or Stock
http://www.investmenthouse.com/ci/bni.html
Play Date: 06/09/2009
EBAY (Ebay--$17.71; +0.07; optionable): Online auctions, etc.
http://biz.yahoo.com/p/e/ebay.html
After Hours: $18.00
EARNINGS: 07/22/2009
STATUS: Flag. EBAY gapped higher the second half April on its earnings, clearing significant resistance on the move from October 2008 and January 2009. When a stock makes a significant gap such as that we look for opportunity to get in. EBAY chopped around for over a month but it did not give up the gap. It finally moved higher to start June and has turned back to test the move, filling that small gap higher to start summer. Tested the 18 day EMA (17.49) on the Monday low and rebounded, holding flat Tuesday. Good position to move higher and that is basically what we are looking at to enter the play. One of the guys here says Cramer was talking about it on his show; thus it was up after hours. If it gaps up we will see if it comes back in the first half hour and then move in.
Volume: 12.512M Avg Volume: 17.177M
BUY POINT: $18.04 Volume=22M Target=$24.48 Stop=$16.78
POSITION: QXB JP - Oct. $17c (62 delta) &/or Stock
http://www.investmenthouse.com/ci/ebay.html
Play Date: 06/09/2009
EOG (EOG Resources--$74.65; +0.95; optionable): Independent oil and gas
http://biz.yahoo.com/p/e/eog.html
After Hours: $75.10
EARNINGS: 08/06/2009
STATUS: Double bottom w/handle. Another one of the energy/commodities stocks that broke out from a five month base in early May and then formed a nice crisp 5 week pattern over the 200 day SMA (71). Testing back the past week to hold the 200 day on the lows, forming the handle. Money flow is surging and looking for EOG to make the break higher.
Volume: 3.294M Avg Volume: 3.829M
BUY POINT: $74.89 Volume=5M Target=$86.95 Stop=$69.74
POSITION: EOG JO - Oct. $75c (55 delta) &/or Stock
http://www.investmenthouse.com/ci/eog.html
Play Date: 06/09/2009
TTEK (Tetra Tech--$27.25; 0.00; optionable): Technical services (consulting, engineering, construction)
http://biz.yahoo.com/p/t/ttek.html
After Hours: $27.25
EARNINGS: 04/29/2009
STATUS: Flag. TTEK broke out from a 4 month cup with handle base to start June. We had the play in our sites . . . and missed it. TTEK is giving us another shot as is often the case, coming back to test the breakout, forming a flag pattern over the rising 10 day EMA (26.71). Nice low, below average volume pullback to near support, and that rising 10 day is often what triggers the next move back up. Everything looks solid for TTEK. There is some resistance from 29 to 30 at last summer's high that will cause it a pause, but we are actually looking for a new high from TTEK on this move, an all-time new high.
Volume: 432.266K Avg Volume: 566.063K
BUY POINT: $27.66 Volume=600K Target=$31.94 Stop=$25.72
POSITION: TQI IE - Sept. $25c (70 delta) &/or Stock
http://www.investmenthouse.com/ci/ttek.html
Play Date: 06/09/2009
VSEA (Varian Semiconductor--$25.65; +0.96; optionable): Chip equipment
http://biz.yahoo.com/p/v/vsea.html
After Hours: $25.65
EARNINGS: 04/30/2009
STATUS: Double bottom w/handle. Chip equipment stocks are lagging the other chips by a bit, but VSEA was moving higher on stronger volume Tuesday, moving over the high in the June handle to the 5 week consolidation base. That short base is consolidating the March to May run that broke VSEA out of the 6 month base formed on the lows; seen this a lot, huh? Want to see some continuing good trade on the move.
Volume: 979.701K Avg Volume: 1.134M
BUY POINT: $25.82 Volume=1.4M Target=$29.88 Stop=$24.01
POSITION: UES HE - Aug. $25c (59 delta) &/or Stock
http://www.investmenthouse.com/ci/vsea.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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trade stock
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