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stock recommendation, stock pick
Begin part 3 of 3
THE PLAYS:
Upside: Seeing some good upside set ups so going that way while we let our downside run.
Play Date: 06/23/2009
CMG (Chipotle Mexican Grill--$78.71; -2.31; optionable): Casual restaurants
http://biz.yahoo.com/p/c/cmg.html
After Hours: $78.73
EARNINGS: 04/22/2009
STATUS: Ascending triangle. Going back for another meal at CMG. It is in a 10 week base using the 50 day EMA (78.08) on the lows as support. After a scintillating run March through April that made us some nice returns it consolidated and is setting up now for a new move higher. It has come back to test the 50 day again on low, below average volume. Looking to pick this one up on a solid bounce off this test that it holds into the close. This gives us a nice entry point and a solid risk/reward position.
Volume: 369.722K Avg Volume: 701.46K
BUY POINT: $79.48 Volume=950K Target=$90.95 Stop=$76.97
POSITION: CMG IO - Sept. $75c (54 delta) &/or Stock
http://www.investmenthouse.com/ci/cmg.html
Play Date: 06/23/2009
HWCC (Houston Wire & Cable Co.--$11.47; +0.11; optionable): Wholesale electronics
http://biz.yahoo.com/p/h/hwcc.html
After Hours: $11.47
EARNINGS: 05/11/2009
STATUS: Test 50 day EMA. Seeing a lot of this kind of test. After a good run from March the stock has sold back the past three weeks, hitting the 50 day EMA (11.23) last Wednesday and working laterally since. Tried a big move Friday on some volume but faded in the Monday selling, but on low trade. Nice tight doji Tuesday. Looking for a break off this level to give us the entry for a run back up.
Volume: 143.114K Avg Volume: 138.262K
BUY POINT: $11.71 Volume=205K Target=$14.88 Stop=$11.08
POSITION: UKL IB - Sept. $10c (71 delta, low OI) &/or Stock
http://www.investmenthouse.com/ci/hwcc.html
Play Date: 06/23/2009
PKE (Park Electrochemical--$20.54; -0.23; optionable): Printed circuit boards
http://biz.yahoo.com/p/p/pke.html
After Hours: $20.54
EARNINGS: 06/30/2009
STATUS: Test 50 day EMA. A nice surge in late May/early June off a similar pattern. May come on back and test the 50 day (20.22) and then turn. No issue with that; it is the same play as we look for a rebound and a holding the move to the close.
Volume: 48.691K Avg Volume: 108K
BUY POINT: $20.68 Volume=150K Target=$24.95 Stop=$19.92
POSITION: PKE ID - Sept. $20c (52 delta, 59 OI) &/or Stock
http://www.investmenthouse.com/ci/pke.html
Play Date: 06/23/2009
SBUX (Starbucks--$14.16; +0.45; optionable): High-priced coffee
http://biz.yahoo.com/p/s/sbux.html
After Hours: $14.08
EARNINGS: 07/29/2009
STATUS: Test 50 day EMA. You can tell what we were looking at tonight: tests of the 50 day. SBUX made us a lot of money on the downside when it was burning back in 2008; every time it bounced to the 50 day EMA we bought puts. It has turned the page now and is riding up the 50 day EMA (13.54) with nice stair-step bounces. Showing solid upside volume of late with a nice volume surge Wednesday on an upside day and a very solid volume surge Tuesday as it moved off the 50 day. We are looking for a continued move off of this Tuesday bounce to give us the entry point.
Volume: 15.469M Avg Volume: 13.797M
BUY POINT: $14.69 Volume=18M Target=$17.95 Stop=$13.52
POSITION: SQX JJ - Oct. $13c (68 delta) &/or Stock
http://www.investmenthouse.com/ci/sbux.html
Play Date: 06/23/2009
XXIA (Ixia--$6.70; +0.28; optionable): Chip equipment
http://biz.yahoo.com/p/x/xxia.html
After Hours: $6.70
EARNINGS: 04/23/2009
STATUS: This one is a bit different from the others tonight, showing a nice 7 month cup and then here in June a short Double bottom w/handle over the 50 day EMA (5.94). Broke higher Thursday, tested Friday and Monday, and was heading back up Tuesday. Nice action and looking to move in as XXIA continues higher.
Volume: 153.334K Avg Volume: 151.708K
BUY POINT: $6.77 Volume=165K Target=$8.48 Stop=$6.21
POSITION: UJC KA - Nov. $5c (80 delta, 20 OI) &/or Stock
http://www.investmenthouse.com/ci/xxia.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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stock recommendation
stock pick
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