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Begin part 2 of 3
NOTE: PART 2 PRECEDES PART 1 THIS EVENING. THE VIDEO MARKET SUMMARY OF PART 1 IS AVAILABLE AT THE FOLLOWING LINK:
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VIDEO MARKET SUMMARY
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View the video market summary featuring Jon Johnson talking about the market, the economy, and what is next for investors. We hope you enjoy this added feature to your subscription! We still include the normal Market Summary format so you have both a video to listen to while commuting or multitasking as well as the written report for review.
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CONTINUING PLAY LIST
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LEGEND FOR CONTINUING PLAY TABLE
DATE: date play first appeared on report.
PLAY: Denotes the type of pattern or play.
Upside play types: Asc Tri =Ascending triangle; BO=Breakout; Cup=Cup base; Cup hdl=Cup w/handle; DB hdl=Double bottom w/handle; Dbl btm=Double bottom; Flat=Flat base; FlyPlat=Flying Plateau; Pennant=Pennant; Rv H&S=Reverse head & shoulders; Saucer=Saucer base; Test 18=Testing 18 day MVA; Test 50=Testing 50 day MVA; Test BO=Testing the breakout (could be 10 day MVA test, etc.)
Downside play types: CCall=Covered Call; Dsc Tri=Descending triangle; Dbl Top=Double top; H&S=Head & shoulders; Put (generic downside);
PIVOT=Buy point
Tgt=Target stock price for the play. Applies to stock and options.
Vol=Volume for the most recent session.
TgtV=Target volume to enter the play.
Stop=Stop advisory point. This is advisory and we may or may not exit a play if it hits this level depending upon market conditions.
PLAY STATUS: Buy not hit (stock has not hit buy point); Buy not issued (stock has hit buy point but did not enter due to weak volume, poor intraday action, poor market action); Current (ongoing play already entered); Entered today (entered the play that session); Exited (closed the position); Target hit (play hit initial target; will note if took all or partial gain or let run further); Trailing stop (exited using a trailing stop loss).
Upside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
AAPL 07/08 Rolling 168.42 +3.11 138.55 149.91 16M 23M 160.65
Current. Moderate step high with volume just under average to take the stock to a new high for the year. Not a huge move, but solid action from a strong stock. Going to see if it can add to this to close the week.
AAPL 04/15 Test 20 168.42 +3.11 119.69 132.77 16M 25M 160.65
Current.
AGU 07/23 Rev HS 48.86 +0.29 43.84 50.94 1.8M 5M 46.44
Current. Gapped slightly to a doji that closed well of the intraday high. Still finding resistance at the 50 dollar mark as volume continues to edge lower. May need to rest here a bit longer in this decent lateral consolidation.
AKS 07/23 Test 18 21.49 +0.90 19.65 23.55 7.6M 12M 19.21
Current. Gapped and then pressed for more gains after a quick test to the 10 day EMA (20.57) that bounced. Looking good as it carries along the uptrend.
AKS 07/13 Test 50 21.49 +0.90 17.24 20.58 7.6M 12M 19.21
Current.
AMG 08/12 Flag 68.13 +0.45 68.08 81.89 428K 1M 65.22
Buy Not Issued. Baby step higher to a doji on low volume after recovering off the intraday low. Could not make real headway and hold it so we were not buying. Need stronger movement out of this flag pattern before we move in.
ANR 08/05 Pennant 36.66 +2.90 32.88 39.92 6.6M 6.2M 32.57
Gapped and then shot higher on volume for solid gains. Very solid action and in good shape to continue.
BEN 06/25 Test 50 95.29 +1.09 71.80 79.95 1.5M 3.4M 90.42
Current. Short step higher on the just under average volume as BEN continues to press for gains. Trending along nicely so we are giving it time to play.
BHP 08/10 Flag 65.06 +1.86 63.48 72.94 3.7M 7M 60.89
Current. Nice gap higher and then worked for more gains after a sharp bounce off the 10 day EMA (63.38) as the intraday low. Solid follow through to the Wednesday action and looking good out of the flag pattern.
BIDU 07/29 Flag 347.22 -1.41 355.11 388.45 1.1M 2.5M 335.88
Current. Worked laterally along support at the 10 day EMA (346.73) in this very neat consolidation. Looks good from here.
BIDU 07/08 Test 50 347.22 -1.41 281.68 307.85 1.1M 2.5M 346.88
Current.
BIG 08/03 Flag 23.64 -0.31 23.64 27.95 1.7M 3M 21.99
Current. Short slide back on below average volume to tap the 18 day EMA (23.27) and bounce modestly. Very tidy pullback to in this flag pattern. May need to test back a bit more, but the 18 day EMA and July highs are the level we want to see BIG hold at and bounce up from.
BTU 07/23 Flag 37.10 +2.12 34.18 39.77 8.8M 8M 33.77
Current. Surged higher with rising trade as the dollar weakened. Great move above the June peak (36.78) and going to see what BTU does from here.
BUCY 08/04 DB hdl 33.92 +0.68 31.68 37.94 2M 3.4M 31.03
Current. Short gap to a doji on falling volume for a sluggish day. Closed for a new high for the year, but BUCY looks like it might decide to turn back from here. Solid action overall though and in good shape to let it play a bit for now.
BWLD 07/16 Trnd Rv 39.27 -0.19 34.19 41.95 415K 925K 38.28
Current. Slid laterally on low but rising volume to hold in this nice range from August. Taking things easy here and looking for a boost in volume to pick it back up.
CBEY 08/01 Rolling 15.61 -0.44 14.28 16.94 264K 575K 15.38
Current. Fell back but bounced off the 50 day EMA (15.28) and closed back up at the 200 day SMA (15.58) for support. Want to see a bounce up from here.
CEDC 08/12 Flag 32.60 +1.72 32.15 39.55 826K 1.2M 29.78
Entered today. Solid move out of the flag on rising volume. Held the gains into the close so we picked it up.
CME 07/28 Test TL 285.10 +3.08 269.77 299.74 795K 1.5M 269.91
Current. Short step up to hold the 50 day EMA (282.65) as CME trends slowly higher. Taking things slow here but looks good to let it run.
CMG 06/23 Asc Tri 90.74 -0.37 80.67 90.95 417K 950K 92.64
Current. Lateral move under the 18 day EMA (91.58) as slight resistance now. Still holding the June peak easily as support though so we're leaving it. Want to see a bounce up from here.
CRZO 07/23 Test 50 22.51 +1.21 20.56 24.97 552K 1M 20.11
Current. A quick tap of the 10 day EMA (21.01) as support was enough to spring CRQO much higher on this good day for oil. Working solidly higher in the trend so we're letting it run.
CTRP 06/24 Dbl btm 52.10 +0.45 43.38 49.85 661K 2M 49.78
Current. Lateral move to hold the 10 day EMA (51.23) as support. Light trade and taking things easy until it picks back up with trade.
DRIV 08/05 Rolling 34.55 -0.34 35.77 40.91 771K 640K 33.78
Current. Short fade back on above average volume but still holding nicely at support from the May and July lows at the 34 mark. Holding where it needs to and waiting for the bounce up from here.
ESRX 08/06 Test 50 67.66 +0.11 67.39 74.95 1.9M 3.5M 65.77
Current. Side step to a doji on the low volume to continue holding a the 50 day EMA (66.39) where it needs to. Waiting for things to get going again here but still in good position by holding the support it needs to.
FCS 07/06 Test 50 9.37 +0.60 7.38 9.91 3M 3.4M 8.68
Current. Zipped higher on just over average volume to blast above the late July and early August peaks at the 9 dollar mark. Solid move and not showing a sign of slowing heading into Friday.
FCX 08/10 Flag 66.07 +3.09 63.22 75.95 18M 21M 59.21
Buy Not Issued. Gapped away and then pressed for more gains to leave the buy in the dust. Going to see if it can test back to give us an entry.
FSLR 07/29 Test 50 144.76 -0.23 170.11 198.89 2.9M 4M 160.77
Buy Not Issued. Lateral move to a doji to keep holding in this very tight range just over the July low. Going to wait for a bounce up from here.
FSLR 07/15 Test 20 144.76 -0.23 151.25 170.95 2.9M 4M 162.94
Current.
GIS 08/10 Test BO 57.42 -0.42 58.44 67.42 1.9M 4M 56.48
Buy Not Issued. Short step back to find support at the 50 day EMA (57.10) with the intraday low and bounce into the close. Testing stronger support now so it's time to see if GIS can make anything of it.
GOOG 07/21 Test BO 462.28 +3.70 439.68 459.88 2M 4M 447.11
Current. Very modest gap to a doji as volume fades back. Looks a bit tired here but has held the uptrend splendidly thus far so going to see what it can do with a test if it starts back for one.
GOOG 07/08 Rolling 462.28 +3.70 408.88 444.94 2M 4M 447.11
Current.
GTLS 08/12 Cup hdl 22.14 +0.48 22.08 25.95 215K 450K 20.54
Entered today. Solid move higher on rising volume as it held the gains into the close so we picked it up. First move out of the handle and looks good to continue.
IBM 07/08 Rolling 119.58 +0.29 102.98 111.91 5.5M 10M 116.21
Current. Eased laterally on falling volume to hold nicely in this August range. Taking things slow but holding where it needs to.
IDXX 06/08 Test BO 50.70 +0.26 45.64 51.95 167K 700K 48.32
Current. Side step on very low volume but held at the 10 day EMA (50.28) where it needed to. Needs trade to pick up to give it a push higher.
IDXX 05/16 Test 20 50.70 +0.26 41.65 47.55 167K 700K 48.32
ILMN 08/06 Test 50 37.14 +0.77 36.56 42.95 1.3M 2.2M 34.57
Buy Not Issued. Solid step higher to hold gains into the close but we held off from the buy because of the low volume. Going to see if it will test some more and if trade can pick up.
INT 08/12 Flag 44.77 -0.60 45.78 52.95 394K 700K 43.69
Buy Not Issued. Quick step lower after testing down to the 18 day EMA (43.90) and bouncing firmly into the close. Finishing up the flag pattern nicely and getting to support that it needs to hold. Going to wait for the bounce up before moving in.
INT 07/24 DB hdl 44.77 -0.60 42.20 47.95 394K 700K 43.97
Current.
ISRG 06/10 Rev HS 228.15 -1.53 166.54 194.95 402K 2M 220.38
Current. Slid laterally on very low volume to hold solidly at the August levels. Not ready to work higher yet, but holding where it needs to for now.
JOYG 07/28 ABCD Up 42.59 +0.50 38.11 45.95 2.8M 5M 39.97
Gapped to a doji on below average volume to hold right at the previous August peak. Key level here and it needs to decide whether to move through it or test back again.
MON 07/29 Flag 84.03 +1.57 84.52 93.65 7.2M 8M 81.32
Current. Skipped higher with average volume to post modest gains despite closing well off the intraday high. Not the strongest action after giving up a big chunk intraday, but coming off a decent recovery so we are leaving it.
MOS 07/22 Flag 54.65 +1.61 51.85 61.78 4.2M 10M 51.87
Current. Gapped to a doji and the slid higher after a test and bounce off the 10 day EMA (53.06) at the low. MOS did give up a bit off the high after finding resistance at 55 and the previous August peak, but it is holding nicely here so we like the action heading into Friday.
MR 07/01 Test BO 30.90 -0.31 27.62 33.88 1.2M 1.2M 30.22
Current. Slipped lower on falling volume to settle at the 10 day EMA (30.57) and July peak as support. Has calmed down a bit after two volatile days and is at a level we want to see hold.
MR 06/17 Test BO 30.90 -0.31 26.53 31.45 1.2M 1.5M 31.58
Current.
MRVL 05/26 Asc Bse 14.25 +0.47 11.85 14.00 11M 17M 13.11
Current. Nice move up on rising volume to add to the Wednesday gains. Held above the July and previous August highs into the close for a solid session and looking good to keep it going.
NFLX 06/22 DB hdl 46.28 0.00 41.38 49.95 752K 2.9M 43.91
Current. Side step to a doji that found support at the 10 day EMA (45.18) on the low. Pretty decent recovery but looking tired at the July peak so it is time to decide if you want to sell some or all (particularly options) of it. Trending back up, but slowly and on low volume.
NKE 08/11 Cup hdl 57.81 +0.29 57.50 65.95 2.1M 4.5M 55.21
Current. Stepping along just under 58 and the August highs as volume edges lower. Holding solidly here and taking things easy until it can get the next leg up started.
NKTR 08/01 Flag 7.61 -0.16 7.19 8.97 605K 1M 7.11
Current. Short move down on falling volume to find support at the 10 day EMA (7.49). In good shape to keep trending higher.
NOV 08/05 Rev HS 38.29 +1.28 37.14 42.88 4.9M 9M 35.69
Current. Great move higher to add to the Wednesday gains. Held the move into the close to successfully punch through the July and August peaks at the 38 dollar mark. Looking strong here especially if trade can pick up.
NTGR 07/28 Test BO 16.64 -0.17 17.05 19.95 119K 350K 16.07
Current. Short step back but continued to hold the 18 day EMA (16.48) as support. Working laterally very neatly and setting up for another leg higher if it can hold this level.
PH 08/07 DB hdl 49.86 +0.40 48.82 58.77 1.3M 2.6M 46.98
Current. Slight gap to a doji on fading volume to show a little slowing here. Looking tentative over the May, June and July peaks but is in no danger so we are going to give it time to play.
PMTI 07/25 Test 50 14.53 -0.13 14.63 17.88 148K 400K 14.55
Current. Gapped but then faded back to hold the up trendline from July. Still waiting for the bounce from this level.
PNK 08/01 ABCD Up 10.48 +0.02 10.76 12.95 401K 1.1M 10.02
Current. Side step to a doji after a very nice recover off the low (10.06). Really need to see it hold here.
PNRA 08/11 Cup hdl 54.09 +0.33 54.21 60.95 224K 875K 52.31
Buy Not Issued. Side step to a doji on low volume after recovering nicely off the low at the 50 day EMA (53.20). Setting up nicely here and same store sales did not hurt the pattern.
POT 08/06 Rev HS 97.55 +2.53 99.10 114.88 5.1M 10M 94.32
Current. Worked higher to recover off the Wednesday losses. Solidly holding the July trendline now and going to see if it can resume the upside action from here.
PRFT 07/27 Asc Tri 7.49 -0.04 7.24 8.94 68K 220K 6.73
Buy Not Issued. Moving laterally as volume shrinks to hold nicely in the August range. Looking good but we're not buying until we see a nice move higher so patience its key.
QCOM 07/27 Test 18 46.58 +0.21 47.04 52.65 11M 20M 45.55
Current. Side step to a doji but got a nice intraday test with the low at the 18 day EMA (46.14) that bounced. Took a day off but still in good shape to continue to the upside.
QCOM 06/24 Asc Tri 46.58 +0.21 45.17 52.65 11M 22M 45.55
Current.
RTI 07/30 Trnd Rv 18.65 +0.38 17.71 22.48 268K 800K 16.89
Current. Low volume gap and then surged higher intraday before peeling back a bit. Not the strongest move but still firmly in the uptrend so no worries for now.
SBUX 06/23 Test 50 19.64 +0.41 14.82 17.95 15M 18M 18.08
Current. After making thousands and thousands and thousands from 2007 to 2008 when SBUX sold off (played puts repeatedly), we are starting to make us thousands again with the upside. Not slowing down so we are just letting it run.
SMTC 08/11 Test 50 17.73 +0.32 17.68 20.95 218K 850K 16.52
Entered today. Added to the Wednesday gains and coming off a good test of the 50 day EMA (16.81) and May peak. Moved in with the solid action.
SOHU 08/06 ABCD Up 63.16 +0.59 64.18 74.91 632K 1.3M 60.12
Current. Worked for good gains intraday but peeled back a bit into the close. Trending nicely higher nonetheless and going to let it run as it is not showing signs of stopping.
SOLF 08/06 Pennant 6.77 -0.90 7.94 9.77 2.4M 2.2M 7.38
Buy Not Issued. Sold off on volume to slam into the 50 day EMA (6.75) as support and stay there. Going to drop it and watch to see if it recovers.
SWHC 08/10 Cup hdl 5.91 +0.10 6.13 7.48 1.3M 2M 5.71
Buy Not Hit. Short step higher after testing down to the 50 day SMA (5.71) and bouncing. Looking ready to make the break higher as volume picks up so we are going to watch it closely.
TEX 07/30 Trnd Rv 15.95 -0.15 15.17 18.48 2.1M 4.2M 15.14
Current. Gapped but faded back with the low volume to close at the 10 day EMA (15.67) for support. In good shape to keep trending higher.
TKC 08/07 Test BO 16.19 +0.13 16.10 19.64 1.4M 1M 15.41
Current. Gapped higher but then peeled back a bit before bouncing off the low. Not the strongest action, but still holding this level easily so we're not going to question it.
TYC 07/10 Test 50 32.10 +0.47 26.75 31.95 3.2M 5.5M 29.92
Current. Gap to a doji to follow up the solid Wednesday gains. Trying to fill a slight gap now from October '08 though, so there may be a bit of resistance as TYC tries for more gains.
UTHR 08/07 Flag 91.75 +0.68 92.38 103.94 150K 875K 88.82
Buy Not Issued. Dipped down to the 18 day EMA (90.14) and bounced for a great test of support. Finishing up the flag pattern in very good form and waiting for a solid step higher from here to give us a buy.
V 08/03 DB hdl 68.68 +0.23 69.31 79.95 3.7M 10M 64.91
Buy Not Issued. Stepped laterally along support at the 10 day EMA (68.29) to hold in the nice August range. Taking things slow and resting before moving out of here and giving us an entry.
VSEA 07/10 Asc Tri 31.03 +0.27 25.91 31.45 592K 1.1M 29.91
Very slight step higher to continue the move out of the neat August pullback. Still liking the action.
VWO 07/13 Pennant 36.03 +0.60 31.14 35.95 5.9M 7M 34.89
Current. Nice little gap to a doji that tested to the 10 day EMA (35.54) as support for a quick bounce. Nice action coming out of the tidy August pullback.
Downside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
AMMD 08/11 BearFla 14.98 -0.01 14.64 12.62 552K 1.2M 15.44
Buy Not Hit. Lateral move to a doji just under the 10 day EMA (15.04) as resistance while volume dries up. Looking great to fall from here.
AVAV 08/01 BearFla 29.65 +0.14 28.04 25.11 56K 250K 29.78
Current. Side step to a doji to remain under the 200 day SMA (30.13) as resistance. Not falling yet like we want, but holding under resistance so we are leaving it. Mind your stops here.
BKE 08/10 Put 26.80 +0.15 26.66 24.08 1.2M 1.8M 28.44
Buy Not Issued. Slid to the side with a doji at this gap down level. Looking for it to selloff from here still to give us the buy.
BRCM 08/05 Dbl Top 27.57 +0.61 27.84 26.04 7.1M 12M 27.41
Current. Not liking the bounce up from the intraday low as it posted gains. Chips were stronger today though and if it cannot turn down from here we close it.
DGX 08/11 BearFla 53.97 +0.35 53.13 50.05 844K 2.1M 54.28
Buy Not Issued. Recovered off the intraday low to post slight gains and close just under resistance at the 18 day EMA (54.05) and mid July lows. Volume remains low and this is where we want it to turn back from.
ICE 07/16 Put 91.07 -0.08 89.65 81.45 1.1M 2.8M 92.02
Current. Stepping laterally still in the tight August range. Volume continued to fade back and ICE looks ready to break lower.
IOC 08/10 Rollove 29.83 +1.80 28.04 25.00 366K 650K 28.11
Rallied with volume to post serious gains and remove the downside play. Time to leave this one alone and we are doing so.
LMT 08/05 Put 75.40 -0.25 74.98 70.31 1.9M 3.6M 77.39
Buy Not Issued. Side step under resistance at the 10 day EMA (75.64) and looking increasingly weak. Waiting for it to selloff before we move in.
MHK 08/11 Dbl Top 49.69 -0.60 49.21 44.11 735K 1.4M 51.77
Buy Not Hit. Slipped back on fading volume but recovered off the low to close at the 10 day EMA (48.51) for support. This will be good support to see MHK take out.
MPWR 08/07 Rollove 22.69 +0.83 21.55 19.77 227K 650K 22.46
Buy Not Issued. Solid gains with chips stronger and found support from the 50 day EMA so we are dropping it.
PG 08/11 BearFla 52.30 +0.22 51.81 49.55 10M 12M 53.31
Buy Not Issued. Side step to a doji on below average volume. Not ready to fall yet and may still take a test to resistance overhead before breaking lower.
RHB 08/12 BearFla 22.28 +0.52 21.65 18.12 139K 285K 22.94
Buy Not Issued. Looking for RHB to rollover from here, though it may bounce up to the 50 day EMA (22.78). If it does move up to the 50 day EMA and fails we will move up our buy to take advantage of the better entry.
RS 08/06 Put 36.98 +1.54 34.11 30.08 983K 1.4M 35.99
Buy Not Hit. Solid gains and held onto them into the close. Going to drop it and move it to the upside.
SDS 06/20 Dbl Top 44.62 -0.72 57.88 61.35 35M 50M 59.11
Current. Short step lower after finding a bit of resistance with the 10 day EMA (46.02) intraday. Nothing new here and just waiting for the test and bounce of the SP500 before exiting.
SVNT 08/07 Put 13.33 +0.49 12.64 10.00 2.2M 5M 13.68
Buy Not Hit. Climbed higher to close with the 18 day EMA (13.36) as resistance. Moved up the buy point and if it stalls and turns over here we will pick it up.
VCLK 08/12 BearFla 10.42 -0.42 10.55 8.45 2.1M 1.4M 11.11
Entered today. Gapped over recent resistance at the 50 day EMA (10.89) but rolled and sold off on volume so we picked it up. Great first step down.
ZRAN 08/12 BearRev 11.49 +0.54 10.76 9.04 1.3M 900K 11.32
Buy Not Hit. Chips were stronger and ZRAN shot higher to take away a downside play so we dropped it.
End part 2 of 3
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