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trade stock, stock recommendation
Begin part 3 of 3
THE PLAYS:
Upside:
Play Date: 10/19/2009
BGC (General Cable--$40.27; +0.82; optionable): Good old wiring and cables
http://biz.yahoo.com/p/b/bgc.html
EARNINGS: 08/05/2009
STATUS: Triangle. Gapped higher to start May, rallying on solid earnings. It then started moving laterally, forming the current pattern over the past 13 weeks. Pinching off at the end of the base, making a higher low the past week as BGC bumps the top of the triangle and tests modestly lower. Looking for the breakout from here given its show of strength. Very nice setup for a break higher and some good room to run before the next resistance of any sort.
Volume: 491.966K Avg Volume: 1.03M
BUY POINT: $40.72 Volume=1.2M Target=$48.95 Stop=$37.92
POSITION: BGC AH - Jan. $40c (52 delta) &/or Stock
http://www.investmenthouse.com/ci/bgc.html
Play Date: 10/19/2009
BIDU (Baidu.com--$411.02; +15.23; optionable): Chinese search
http://biz.yahoo.com/p/b/bidu.html
After Hours: $415.00
EARNINGS: 07/23/2009
STATUS: ABCD upside. BIDU is still stair-stepping higher, and it just set up a short ABCD pattern as it often does as it makes these climbs higher. Formed the D point today and reversed for a nice gain on volume. The pattern is set up so moving in if BIDU continues higher. If it tests some and holds above the 10 day EMA (404) we can use that to move in and all the better.
Volume: 2.103M Avg Volume: 1.865M
BUY POINT: $411.57 Volume=2M Target=$464.94 Stop=$391.31
POSITION: BPJ AB - Jan. $410c (55 delta)
http://www.investmenthouse.com/ci/bidu.html
Play Date: 10/19/2009
TSRA (Tessera Technologies--$30.22; +0.16; optionable):
http://biz.yahoo.com/p/t/tsra.html
After Hours: $31.40
EARNINGS: 10/29/2009
STATUS: ABCD upside/Flag. Broke out from a 9 week base in early October with a series of upside gaps. It moved a long way from 26 at the bottom of the base to 32 at the peak of the breakout move. Last week TSRA came back to test on lower volume than the strong upside trade that broke it out. Reached down toward the 18 day EMA (29.13) last Friday on low volume and rebounded to hold the early August peak. Monday TSRA tried to make the run but faded to close basically flat on a big volume burts. Good action at near support with that big shadow on the candlestick doji Friday and a hammer doji Monday. Looking for TSRA to bounce up off of this level and give us the buy point. Looking for it to hold the move into the close, but it could take off early so we can look at a partial if it does that and then add if it is still in buy position in the last hour.
Volume: 2.373M Avg Volume: 816.644K
BUY POINT: $30.48 Volume=1.2M Target=$35.94 Stop=$28.92
POSITION: TJQ AF - Jan. $30c (55 delta) &/or Stock
http://www.investmenthouse.com/cd/tsra.html
New Play on a current position:
Play Date: 10/19/2009
TRLG (True Religion Apparel--$27.24; +0.26; optionable): Apparel, etc.
http://biz.yahoo.com/p/t/trlg.html
After Hours: $27.24
EARNINGS: 08/04/2009
STATUS: ABCD upside. Something of an ABCD on ABCD pattern. TRLG broke higher from a similar pattern in early October; we are already enjoying the gains on that position. Now TRLG is pulling back the past two weeks, forming a subtle ABCD pattern once more; you can say it is a flag if you want. Regardless, TRLG started to bounce Monday after its Friday test of the 18 day EMA (26.66) near support. Ready to move in as it continues higher.
Volume: 297.38K Avg Volume: 498.273K
BUY POINT: $27.42 Volume=700K Target=$31.65 Stop=$26.22
POSITION: ZJQ AE - Jan. $25c (67 delta) &/or Stock
http://www.investmenthouse.com/ci/trlg.html
CONTINUING PLAYS READY TO MOVE:
Play Date: 10/15/2009
MOT (Motorola--$8.47; +0.62; optionable): Telecom equipment
http://biz.yahoo.com/p/m/mot.html
After Hours: $8.53
EARNINGS: 10/29/2009
STATUS: 61% Fibonacci double bottom. MOT bounced through Monday on rising high volume off of support from its 50 day EMA (8.0) for some impressive gains. If it can keep up this solid, positive action we will enter. To Recap: Another stock surging in September and then testing back the past six weeks, setting up the next break higher. The 50 day EMA (7.95) acted as support for both of the legs and that is coincident with the 61% Fibonacci pullback. Looking for a bounce higher that can hold into the close to give us the entry.
Volume: 44.202M Avg Volume: 28.623M
BUY POINT: $8.36 Volume=35M Target=$9.49 Stop=$7.77
POSITION: MOT AU - Jan. $7.50c (65 delta) &/or Stock
http://www.investmenthouse.com/cd/mot.html
Play Date: 10/17/2009
PAAS (Pan American Silver--$24.05; +0.03; optionable): Silver mining
http://biz.yahoo.com/p/p/paas.html
After Hours: $24.30
EARNINGS: 08/11/2009
STATUS: Breakout test. PAAS moved laterally along the 18 day EMA at 24.0 as support as it finishes up the pullback from last week. It looks good here with the fading trade as the test ends and it readies for the move higher into our buy. To Recap: Silver is enjoying a strong run along with gold. PAAS surged higher two weeks back, clearing a 4 month base, aided by a big gap. Last week all precious metals tested and PAAS came back as well, forming something of a flag pattern. It tested the 18 day EMA (23.99) last Thursday and again Friday. Looking to play a bounce off of this test of the May and September peaks, moving in as it holds a gain into the close.
Volume: 1.723M Avg Volume: 1.605M
BUY POINT: $24.51 Volume=2.4M Target=$29.77 Stop=$23.61
POSITION: USP AO - Jan. $24c (56 delta) &/or Stock
http://www.investmenthouse.com/ci/paas.html
Play Date: 10/17/2009
RTEC (Rudolph Technologies--$7.72; -0.25; optionable): Scientific and technical
http://biz.yahoo.com/p/r/rtec.html
After Hours: $7.72
EARNINGS: 11/02/2009
STATUS: Ascending triangle. Monday RTEC made a move lower to support from its 18 day EMA at 7.7 and held there at the close as it sold on fading, now average volume. Like the lower volume as it stepped to support and if it can hold here and bounce back we are in. To Recap: Nicely formed 10 week pattern, consolidating a nice March to July run. Last week it bumped up against the high in the base and retreated modestly, bouncing off the 18 day EMA on the Friday low (7.73) to hold its move. May test a bit more, but when RTEC starts back up after this test then we move in.
Volume: 98.484K Avg Volume: 105.788K
BUY POINT: $7.87 Volume=150K Target=$9.97 Stop=$7.32
POSITION: UXH BU - Feb. $7.50c (61 delta, low OI) &/or Stock
http://www.investmenthouse.com/cd/rtec.html
Play Date: 10/05/2009
UTSI (Utstarcom--$2.18; +0.05; optionable): Wireless telecom
http://biz.yahoo.com/p/u/utsi.html
After Hours: $2.18
EARNINGS: 08/06/2009
STATUS: Cup w/handle. UTSI moved higher off of the 10 day EMA (2.1) for some light gains Monday on below average volume. Starting to get back on its feet now for the move uphill and if it can keep up the good work we will jump in. To Recap: UTSI broke higher out of a 14 week cup with handle in mid-September but could not hold the move. It formed a pennant as it tested and held the 50 day EMA (1.93) in early October and then it has since been on the move higher off that level. Good hold of the pattern and ready to move in as UTSI continues the recovery off this test of support.
Volume: 303.439K Avg Volume: 673.462K
BUY POINT: $2.19 Volume=950K Target=$3.48 Stop=$1.87
POSITION: UON AZ - Jan. $2.50c (47 delta) &/or Stock
http://www.investmenthouse.com/ci/utsi.html
Good Investing!
Jon L. Johnson and The Daily Staff
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 of 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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