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stock recommendation, stock investment information
Begin Part 3 of 3
Current plays Watchlist: These are plays that have hit the buy point and we are currently monitoring.
Puts:
GCI (Gannett Co--$75.38; +2.10; optionable): Media
STATUS: Put. Did not complete the drop after the "kiss good-bye" fall from the 50 day MVA (74.92). GCI turned back up today, closing back over the 50 day and short-term down trendline, as volume increased but remained below average (847k; avg. 1.1m). It stopped just short of our stop point of 75.50
GNTA (Genta--$11.49; +0.25; optionable): Biotechnology
STATUS: Put after 200 day MVA breach. Still holding 11, but at its high GNTA pulled back again from the 10 day MVA (11.92). A hold for buys at 11.75, looking for continued rising volume for the fall. Target=9 (initial), then 8. Stop=13.25.
BRCD (Brocade--$21.78; +0.37; optionable): Communication equipment
STATUS: Descending wedge. After the strong rebound last Wednesday, BRCD dropped back as expected. Today it held in the rally, showing a doji on reduced volume (19.6m; avg. 17.4m). We could see a bounce off of the doji, with the recent resistance at the 50 day MVA ahead at 25.30. Looking again for the bounce to fail. A continued hold for buys at 21.50. Target=15. Stop=24
UVN (Univision--$39.90; -0.10; optionable): Broadcast TV
STATUS: Kiss goodbye. UVN is back down at support from recent lows at 40, having dropped back on big volume last week from its down trendline. Could try another bounce here, but on continued selling can make the move down to 35.50 (target). Looking for new positions on a move below 39.50. Stop=42.80
ARW (Arrow Electronics--$25.92; +1.21; optionable): Wholesale electronics
STATUS: Put on kiss good-bye from the 200 day. ARW bounced again today, moving back up to the resistance of its 18 day MVA (25.97). Volume was higher than on the selling of the last two sessions, but still below average at 438k (avg. 556k). Looking for another failure on this move. A hold for buys at 25.55 and 25.25. Target=22 (initial), then 20. Stop=27.50.
GWW (W.W. Grainger--$52.70; +0.35; optionable): Wholesale Electronics
STATUS: Put: Breach of 50 day MVA. Holding recent support at 52 as volume falls off below average. Today it took a slight bounce but not strong.
BUY POINT: A hold for put buys at 53.70; new buy point 51.90 on strong volume. Target=50 (initial); then 48. Stop=55.75.
POSITION: July 60p to buy (GWW SL; low OI, Delta -74)
AAPL (Apple Computer--$23.94; +0.62; optionable): Personal computers
STATUS: Put. Again challenging the 50 day MVA (23.95), moving back up today on increased volume (4.74m; avg. 5.22m) in the rally. Has been posting higher lows since December, and the up trendline connecting those lows is at 23. A cautious hold for put buys at 23.25. Target=20. Stop=24.50.
TROW (T. Rowe Price--$36.84; +1.10; optionable): Asset Management
STATUS: Put. Still trying to challenge its 50 day MVA (37), closing just under that point today as volume rose on the move up (682k; avg. 603k). Had solid volume on the recent upside moves, so with any remaining positions we will not ride a strong break of resistance.
INTC (Intel--$28.52; +1.51; optionable): Semiconductors
STATUS: Put. Bounced again today in the rally, but not very strong as volume was down at 40.7m (avg. 45.8m). It faces resistance at its down trendline just below 29 (last week's high in the rally was 29), and the 50 & 200 day MVA's (29.54). We can still hold the positions on a continued weak move that cannot take out the resistance. Target=24.
CUM (Cummins--$40.10; -1.71; optionable): Big engines
STATUS: Put. Continued down for the third straight day after a relief bounce took the stock to a test of the 10 day MVA (now 41.54). Holding for the drop to the target at 39.
NAV (Navistar--$37.27; -0.79; optionable): Trucks
STATUS: Continued the drop on low volume, but hit our target on the put play. It is now just above the 200 day MVA (37.08), and could test back up from here.
WL (Wilmington Trust--$64.40; +0.97; optionable): Regional bank
STATUS: Put. Bounced back up today, but on weak volume (down to 51,700; avg. 78k), and it is again just under the resistance of its 18 day MVA (64.60). Still looking for it to turn back and complete the move to the 200 day MVA (62.61). A hold for buys at 65.50.
Upside:
CLHB (Clean Harbors--$13.94; +1.55; optionable): Waste management
STATUS: Great move today! CLHB has picked up steam on a move that started slowly at its 50 day MVA (then 9, now 9.80). Today's move took it to a new high, with strong volume behind it (524k; avg. 276k).
BUY POINT: A hold. Target=17. Stop=10.70 (18 day MVA currently at 11.30).
RAH (Ralcorp--$28.60; +0.60; no options): Processed foods
STATUS: 18 day MVA bounce. After a quick pullback from its bounce from the 18 day (28.06) last week, RAH held and started up again today on increased volume (102k). An ascending wedge, and we can look at new or additional positions on a move over 29.19 on volume of 125k, with stock. Target=35. Stop=27
KROL (Kroll, Inc.--$20.64; -0.81; optionable): Security services
STATUS: All-time high. As suspected, KROL topped out after its nice run, dropping back today, testing its 18 day at the low of 19.65 before rebounding a bit to close. Looking for a hold of the 10 day MVA range (20.34). A hold for buys at 20.20. Target=24. Stop=18.75.
JILL (J. Jill Group--$33.17; +0.32; optionable): Catalog sales
STATUS: Flat base post breakout of cup w/handle. Has become somewhat volatile recently, showing high volume but pulling back off of its intraday highs. Today it held steady on lighter volume (257k; avg. 252k). We will see if it can hold and move up from here. A hold for buys at 33.70. Target=36. Stop=29.95.
GMP (Green Mountain Power--$19.10; -0.15; no options): Electric utility
STATUS: Test of breakout. Made a promising move up Friday, but reversed a bit today, moving back on rising volume (11,700; avg. 7K). Still holding and could turn back up, but would have preferred lower volume on the drop. A hold for buys at 18.85; target is 22.62.
ULAB (Unilab--$29.70. -0.65; optionable): Healthcare software & services
STATUS: Test breakout. Still holding on the test of the double bottom breakout (18 day MVA at 29.47). Volume remains low as it was on the breakout, so will have to see that really come on for a move up from here. A hold for buys at 29.25; target=35.
Good Investing!
Jon L. Johnson and your Technical Traders Report 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 investment information
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