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stock recommendation, stock option
Begin part 3 of 3
THE PLAYS:
Upside:
Play Date: 10/21/2009
ORN (Orion Marine Group--$22.83; -0.86; optionable): Heavy construction
http://biz.yahoo.com/p/o/orn.html
After Hours: $22.83
EARNINGS: 08/06/2009
STATUS: ORN rallied to a new high in July and then formed a 12 week base to consolidate the action, a triangle pattern that broke higher Monday on strong trade. It is testing that move now, coming back on much lower, below average volume Wednesday. May come back to test further, down toward the 10 day EMA (22.22) before it starts back up. When it turns we want to be ready to step in. Want to see it turn and then hold the bounce into the close to make the buy.
Volume: 285.721K Avg Volume: 397.662K
BUY POINT: $22.48 Volume=550K Target=$26.95 Stop=$12.11
POSITION: ORN LD - Dec. $20c (86 delta, low OI) &/or Stock
http://www.investmenthouse.com/ci/orn.html
Play Date: 10/21/2009
PNK (Pinnacle Entertainment--$11.62; +0.76; optionable): Gaming
http://biz.yahoo.com/p/p/pnk.html
After Hours: $11.62
EARNINGS: 10/29/2009
STATUS: Cup w/handle. PNK is making the break higher, rallying Wednesday on a strong shot of above average volume, the strongest volume in three months. Excellent strength as it moves out of its 24 week base, its first base after rallying off the March low. Solid pattern that used the 200 day SMA (9.33) as support on the lows. Solid and ready to move in as PNK continues higher.
Volume: 1.644M Avg Volume: 565.477K
BUY POINT: $11.77 Volume=625K Target=$13.95 Stop=$10.95
POSITION: PNK CB - Mar. $10c (73 delta, low OI) &/or Stock
http://www.investmenthouse.com/cd/pnk.html
Play Date: 10/21/2009
QTWW (Quantum Fuel Sys.--$1.12; -0.03; no options): Auto parts, OEM
http://biz.yahoo.com/p/q/qtww.html
After Hours: $1.12
EARNINGS: 03/12/2009
STATUS: ABCD. A very neat 4 week pattern has set up following the explosive move higher in September. QTWW has stair-stepped lower, coming back toward the August peak and the 50 day EMA (1.07). Except it to find support at that level and start the break back to the upside. Want to see it hold the move into the close. Plenty of room to the upside to turn us a nice gain on a low priced but heavily traded stock.
Volume: 1.814M Avg Volume: 3.019M
BUY POINT: $1.21 Volume=4M Target=$1.60 Stop=$1.09
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/qtww.html
New plays on current positions:
Play Date: 10/21/2009
FFIV (F5 Networks--$41.53; -0.60; optionable): PC networking
http://biz.yahoo.com/p/f/ffiv.html
After Hours: $44.50
EARNINGS: 10/21/2009
STATUS: ABCD. After the nice rally out of the September lateral consolidation FFIV is testing, coming back to the 18 day EMA (41.23) the past week. The pattern is a stair-step ABCD and it looks as if FFIV is going to form the D point at the 18 day. Will have to see it hold and start back up from there but the high volume Wednesday indicates there is support at this level as buyers stepped in. Looking to get into new positions as it makes the bounce.
Volume: 2.702M Avg Volume: 1.651M
BUY POINT: $41.81 Volume=2M Target=$44.95 Stop=$41.08
POSITION: FLK AH - Jan. $40c (61 delta)
http://www.investmenthouse.com/ci/ffiv.html
Play Date: 10/21/2009
RTI (RTI Intl. Metal--$22.60; -0.68; optionable): Industrial metals
http://biz.yahoo.com/p/r/rti.html
After Hours: $22.60
EARNINGS: 08/04/2009
STATUS: ABCD. RTI is showing a hammer doji at the 50 day EMA (22.11) that is coincident with the June peak. The rally in September broke it out of its 12 week base and this pattern over the past 4 weeks is testing that move, setting up the next run higher. Ready to move in as RTI makes the break higher from this test and can hold the move into the last hour.
Volume: 890.768K Avg Volume: 747.358K
BUY POINT: $22.32 Volume=925K Target=$29.95 Stop=$21.78
POSITION: RTI CX - Mar. $22.50c (56 delta) &/or Stock
http://www.investmenthouse.com/ci/rti.html
Downside:
Play Date: 10/06/2009
MCHP (Microchip--$25.70; -0.53; optionable): Semiconductors
http://biz.yahoo.com/p/m/mchp.html
After Hours: $25.71
EARNINGS: 11/04/2009
STATUS: MCHP broke sharply lower to end September and begin October. It tested and after a struggle held the May/July up trendline. It bounced but made a lower high last week and turned back over. Again it tried to hold the trendline (now at 26.05), but Wednesday it broke that level on rising, above average volume. Lower high on MACD when MCHP peaked in September, a divergent top that shows the weakness. Ready to move in as MCHP continues lower. A move to the target lands a 57%ish gain.
Volume: 3.645M Avg Volume: 3.232M
BUY POINT: $25.61 Volume=3.5M Target=$23.48 Stop=$26.65
POSITION: QMT ME - Jan. $25p (-41 delta)
http://www.investmenthouse.com/ci/mchp.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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stock recommendation
stock option
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