us stock market, stock recommendation

Begin part 3 of 3

THE PLAYS:

Upside:

Play Date: 07/16/2009
BWLD (Buffalo Wild Wings--$33.38; -0.69; optionable): Restaurants
http://biz.yahoo.com/p/b/bwld.html
After Hours: $33.38
EARNINGS: 07/27/2009
STATUS: Trend reversal. BWLD held the line and we bailed on our downside play and then it surged higher Monday on solid volume, cracking through its 10 week descending triangle to the upside. That can be as powerful a move as a break lower from such a pattern. It has tested back the past couple of sessions, holding its modest gain on much stronger, above average volume. After this test BWLD will be ready to move. Looking for it to make the break higher to give us the entry.
Volume: 931.225K Avg Volume: 623.992K
BUY POINT: $34.08 Volume=925K Target=$41.95 Stop=$31.69
POSITION: BQU IF - Sept. $30c (70 delta) or BQU LG - Dec. $35c (47 delta) &/or Stock
http://www.investmenthouse.com/ci/bwld.html

Play Date: 07/16/2009
TK (Teekay Shipping--$19.09; -0.01; optionable): Shipping
http://biz.yahoo.com/p/t/tk.html
After Hours: $19.09
EARNINGS: 06/04/2009
STATUS: TK is testing the 50 day EMA (18.45) in its 5 week ABCD pattern. Very nice setup and it gapped higher Wednesday on strong, above average volume. Tested the move Thursday, coming back to the 50 day on the low and rebounding to flat. Looks set to make the move higher and we are ready to move in as it does.
Volume: 638.812K Avg Volume: 1.034M
BUY POINT: $19.31 Volume=1.2M Target=$23.45 Stop=$17.96
POSITION: TK JW - Oct. $17.50c (71 delta) &/or Stock
http://www.investmenthouse.com/ci/tk.html

Downside:

Play Date: 07/16/2009
ICE (Intercontinental Exchange--$90.03; -1.27; optionable)
http://biz.yahoo.com/p/i/ice.html
After Hours: $89.50
EARNINGS: 08/04/2009
STATUS: Bear flag. Made us a lot of money on its runs higher but ICE is going through a correction. Tumbled lower the first week of July and found some support in the April lateral consolidation. Bounced higher with the market this week, but ran into the May interim low that is roughly coincident with the 10 day EMA (93.36), closing well off its high Wednesday and showing a doji Thursday. MACD remains weak and was divergent. Looking for a turn back down to run toward the 200 day SMA down at 80. A move to our target lands a 45%ish gain.
Volume: 2.516M Avg Volume: 2.47M
BUY POINT: $89.77 Volume=2.8M Target=$81.45 Stop=$93.55
POSITION: ICE UR - Sept. $90p (-47 delta)
http://www.investmenthouse.com/ci/ice.html

Play Date: 07/16/2009
VRX (Valeant Pharma--$23.60; +0.18; optionable): Drugs
http://biz.yahoo.com/p/v/vrx.html
After Hours: $23.60
EARNINGS: 05/05/2009
STATUS: Bear flag. VRX is setting up one of those head and shoulders patterns discussed so often of late on the financial stations. It tumbled down the first week of July to the 50 day EMA (22.75) and held, bouncing back up with the market this week though on lower, below average volume. It stalled out at the early June peak, showing a gravestone doji Wednesday and holding flat Thursday. Nice bear flag. Looking for a move down toward the bottom of the May and February range as our initial target. That move lands us a 45%ish gain.
Volume: 1.556M Avg Volume: 1.575M
BUY POINT: $23.44 Volume=1.8M Target=$21.02 Stop=$24.02
POSITION: VRX UE - Sept. $35p (-51 delta)
http://www.investmenthouse.com/ci/vrx.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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