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trend trading stock, stock trading site
Begin part 3 of 3
THE PLAYS:
Upside:
Play Date: 08/13/2009
PNC (PNC Finanical--$42.54; +1.38; optionable): Bank
http://biz.yahoo.com/p/p/pnc.html
After Hours: $42.70
EARNINGS: 07/23/2009
STATUS: Trend reversal. PNC showing a strong 3 week Trend Reversal as it broke higher through late June and early August and pierced the key 200 day SMA (41.20). Started the downtrend off its early May high in the low 50s until it hit its low in July at support from its February and March highs to set up for the reversal. Just a classic setup for a great buy as PNC did a great job breaking its key 200 day SMA (41.2) in the early August surge higher and then just kissed the key moving average at 40.0 Wednesday and bounced Thursday for some modest gains. PNC is a buy in the morning as it continues higher.
Volume: 5.751M Avg Volume: 7.28M
BUY POINT: $42.76 Volume=8M Target=$51.95 Stop=$39.77
POSITION: PZH KH - Nov. $40c (62 delta) &/or Stock
http://www.investmenthouse.com/ci/pnc.html
Play Date: 08/13/2009
RS (Reliance Steel--$36.98; +1.54; optionable): Steel fabrication
http://biz.yahoo.com/p/r/rs.html
After Hours: $36.67
EARNINGS: 07/23/2009
STATUS: Double bottom. RS is in a six week Dbl btm base as it rises off the second low in the base through this week now with two solid sessions of back to back gains at the Thursday bell. Set this base up by testing off its high from early June high (42.9) into early July at the key 90 day SMA (33.7) for the first low. Second low set itself up in late July and early August at this level as well and now starting into the break higher this week as it surged Thursday and broke its 50 day EMA (36.27) and 90 day SMA (36.76) resistance and held the move at the close. A bit more volume on the next move and a hold of its gains to the close as it presses uphill will give us the buy.
Volume: 983.032K Avg Volume: 1.146M
BUY POINT: $37.12 Volume=1.2M Target=$42.95 Stop=$35.89
POSITION: RS LG - Dec. $35c (65 delta) &/or Stock
http://www.investmenthouse.com/ci/rs.html
Play Date: 08/13/2009
WFT (Weatherford International--$19.70; +0.96; optionable): Oil and gas service company
http://biz.yahoo.com/p/w/wft.html
After Hours: $19.70
EARNINGS: 10/19/2009
STATUS: Cup. Consolidating in its 7 week trading range between 17.2 and 20.1 setting up a nice Cup base and some strong gains Wednesday and Thursday. WFT worked a strong 8 week Cup hdl base off the February and March lows to surge all the way to early June at 23.4 and set up the test back to 17 and the start of this base. Nearing the top of that trading range again as it approaches the 20.0 mark and has rising below average volume so need to see WFT keep the pressure on and break on through for the buy.
Volume: 11.32M Avg Volume: 14.024M
BUY POINT: $20.08 Volume=15M Target=$23.71 Stop=$18.67
POSITION: WFT KD - Nov. $20c (50 delta) &/or Stock
http://www.investmenthouse.com/ci/wft.html
Downside Plays:
Play Date: 08/13/2009
BDX (Becton Dickinson--$65.79; -1.48; optionable): Medical instruments
http://biz.yahoo.com/p/b/bdx.html
After Hours: $66.04
EARNINGS: 07/30/2009
STATUS: Bear Flag. BDX has formed a Bear Flag the past week after the late July rush of selling. Nice, steady test through early August forming the flag as it bumps resistance at the 200 day SMA (67.31). Broke the key 200 day SMA in late July in the selling and kissed it Thursday to lead into today's hard move lower. Set up very nicely for this selling off key resistance here Thursday as it got the ball rolling downhill BDX is a buy as it continues lower tomorrow. A move to the target lands a 41%ish gain.
Volume: 2.006M Avg Volume: 1.949M
BUY POINT: $65.58 Volume=2M Target=$61.78 Stop=$67.44
POSITION: BDX XM - Dec. $65p (-44 delta)
http://www.investmenthouse.com/ci/bdx.html
Play Date: 08/13/2009
IM (Ingram Micro--$16.32; -0.33; optionable): Computers
http://biz.yahoo.com/p/i/im.html
After Hours: $16.32
EARNINGS: 07/30/2009
STATUS: Bear Gap. IM is working laterally in a 2 week lateral move after gapping lower to end July on its earnings report. Hard gap lower on earnings that broke key support at 17.0 from its July lows, 50 day EMA (17), and most importantly the uptrend line in its March to July run. Major change of character for IM as it jumped over that level in a single day and made no effort to refill it. That sets it up to fall hard toward the 14.0 level with ease. Also worth noting that IM has a considerable MACD divergence going against the highs of June and July which helps stack the deck for some downsides here as well. Consolidating some more along the 16-17 dollar range for early August and today sold hard on higher volume so very high probability of this one heading lower so ready to jump in a continued move downhill. A move to the target lands a 47%ish gain.
Volume: 2.081M Avg Volume: 2.071M
BUY POINT: $16.18 Volume=2M Target=$14.15 Stop=$17.11
POSITION: IM XW - Dec. $17.50p (-50 delta)
http://www.investmenthouse.com/ci/im.html
Play Date: 08/13/2009
PFWD (Phase Forward--$12.80; -0.21; optionable): Business services
http://biz.yahoo.com/p/p/pfwd.html
After Hours: $13.01
EARNINGS: 07/27/2009
STATUS: Descending Triangle. PWFD is working lower in an 8 week Descending Triangle base off its June and July highs (June - 16.4, July - 15.7), but also at a key point here breaking the 13 dollar mark. 13 is critical as it held this level in July, May and January so a big change of character and a great buy as it pierces the support here. Doing great this week breaking its 200 day SMA (13.6), and then the July lows at 13.8 in the move downhill. If it can keep up this solid downside action and post some strong volume in the move we are in. Just a great risk/reward point as it has the deck stacked in favor of breaking back to eleven with ease. A move to the target lands a 42%ish gain.
Volume: 361.57K Avg Volume: 388.858K
BUY POINT: $12.71 Volume=400K Target=$11.91 Stop=$13.65
POSITION: UTO VC - Oct. $15p (-65 delta)
http://www.investmenthouse.com/ci/pfwd.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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