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Begin part 3 of 3
THE PLAYS:
Upside:
Play Date: 10/26/2009
HWD (Harry Winston Diamond--$9.60; -0.18; optionable): Diamond mining
http://biz.yahoo.com/p/h/hwd.html
After Hours: $9.60
EARNINGS: 11/08/2002
STATUS: ABCD. HWD is testing last week's breakout from a 5 week base that consolidated the September surge higher. Second base off the March low leaves it plenty of room to run. Great break higher and now stair-stepping back down, forming a short ABCD pattern. Looks as if it will make the D point at the 18 day EMA (9.37) as it tapped that level and bounced Monday on rising volume. Looking for a move back up that holds to the close to give us the buy.
Volume: 337.193K Avg Volume: 340.942K
BUY POINT: $9.79 Volume=450K Target=$11.45 Stop=$9.18
POSITION: HWD BU - Feb. $7.50c (77 delta, wide sprd) &/or Stock
http://www.investmenthouse.com/ci/hwd.html
Play Date: 10/26/2009
ININ (Interactive Intelligence--$22.08; +0.08; optionable): Business software
http://biz.yahoo.com/p/i/inin.html
After Hours: $22.10
EARNINGS: 10/26/2009
STATUS: Flag/38% test. Strong surge two weeks back as ININ cleared a 6 week flat base. It makes a lot of these then breaks higher. This time it has made a quick double test of the 38% Fibonacci retracement. That is a signal we can use to enter of ININ starts higher and can hold the move to the close.
Volume: 160.555K Avg Volume: 137.423K
BUY POINT: $22.44 Volume=200K Target=$25.95 Stop=$20.91
POSITION: NQX CD - Mar. $20c (67 delta) &/or Stock
http://www.investmenthouse.com/cd/inin.html
Play Date: 10/26/2009
ITRI (Itron--$57.79; -0.36; optionable): Technical instruments
http://biz.yahoo.com/p/i/itri.html
After Hours: $57.45
EARNINGS: 10/28/2009
STATUS: ABCD. A larger pattern formed the past 6 weeks. Strong move in September and then started the stepping back to test into last week. Held and bounced, gapping Friday. Stalled just below the 50 day EMA (59.07) both Friday and Monday. Can wait for a break over the 50 day but if ITRI turns back up from this general area of the Monday close we will look to take at least a partial position.
Volume: 870.665K Avg Volume: 601.802K
BUY POINT: $58.11 Volume=900K Target=$67.65 Stop=$56.77
POSITION: IUP AK - Jan. $55c (64 delta) &/or Stock
http://www.investmenthouse.com/ci/itri.html
Play Date: 10/26/2009
POT (Potash--$98.61; -2.04; optionable): Fertilizer
http://biz.yahoo.com/p/p/pot.html
After Hours: $98.30
EARNINGS: 10/22/2009
STATUS: Gap test. After an 18 week trading range POT made the break higher last Monday, gapping out of the range. Significant gap in that it cleared the resistance of the range and it did so on the strongest volume in three months. That shows plenty of support from the buyers. The rest of the week it tested but POT has not given up any ground on the gap, making intraday lows just above the gap up point right at 100. Monday it could not hold the gap, but instead filled it on the low. Then it rebounded sharply to close at the 10 day EMA. That morphed the pattern into a short ABCD. Nice. Looking for a bounce back up that holds into the close to start taking positions.
Volume: 10.349M Avg Volume: 6.677M
BUY POINT: $100.11 Volume=9M Target=$114.88 Stop=$96.22
POSITION: PYP AT - Jan. $100c (55 delta) &/or Stock
http://www.investmenthouse.com/cd/pot.html
Downside:
Play Date: 10/26/2009
FUQI (Fuqi International--$25.28; -0.89; optionable): Recreational goods
http://biz.yahoo.com/p/f/fuqi.html
After Hours: $24.55
EARNINGS: 08/06/2009
STATUS: Descending triangle. FUQI has dropped to the bottom point of its 7 week triangle. Hit that level three times this month. Now we see if it can break the support level. Two ways to play: on the initial break or on the rebound to test. We will likely look at a combination, i.e. a partial on the break and then another buy as it tests and fails. A move to the target lands a 45%ish gain.
Volume: 1.092M Avg Volume: 1.781M
BUY POINT: $24.98 Volume=2.3M Target=$22.09 Stop=$26.89
POSITION: QSF XK - Dec. $25p (-49 delta)
http://www.investmenthouse.com/ci/fuqi.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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