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us stock market, stock watch
Begin part 3 of 3
THE PLAYS:
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Each play contains an additional link to a VIDEO that discusses the play in terms of the CHART PATTERN it is currently showing. Patterns, buy points, and targets are discussed along with other points that make the play a good one as well as what areas to watch for. We hope you enjoy this new addition.
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Upside:
New Post-Split Play:
Play Date: 02/08/2010
EAT (Brinker Intl.--$16.30; 0.00; optionable): Casual restaurants
http://biz.yahoo.com/p/e/eat.html
After Hours: $16.30
EARNINGS: 04/20/2010
STATUS: Gap test. EAT gapped higher on earnings, gapping through the 200 day SMA and over the September and October peaks. The gap also took it over a down trendline from April. Over the past three weeks it has tested, filling part of the gap but holding the bulk of the earnings surge. The past two sessions EAT has shown doji on the candlestick chart right at the 18 day EMA and the 38% Fibonacci retracement. We are going to let it show us it has finished this test by bouncing and holding the gain into the last hour.
VIDEO: http://investmenthouse1.com/ihmedia/EAT.wmv
Volume: 1.29M Avg Volume: 2.108M
BUY POINT: $16.49 Volume=2.8M Target=$19.91 Stop=$15.88
POSITION: EAT 10D15.00 - Apr. $15c (88 delta) &/or Stock
Leader Play:
Play Date: 02/08/2010
OSIS (OSI Systems--$26.33; +0.54; optionable): Chip equipment
http://biz.yahoo.com/p/o/osis.html
After Hours: $26.20
EARNINGS: 01/27/2010
STATUS: ABCD. As noted in the Market Summary, SOX is trying to hold the line after being the first to sell in this correction. OSIS is one of the semiconductors that is showing this kind of stickiness as it holds the 50 day EMA and in so doing has formed the D point in an ABCD pattern that started with that strong move from last December to early January. Nice test back, good hold at the 50 day EMA, and a solid bounce Monday. Looking for a continued move higher to give us the entry point.
VIDEO: http://investmenthouse1.com/ihmedia/OSIS.wmv
Volume: 402.974K Avg Volume: 561.903K
BUY POINT: $26.54 Volume=750K Target=$31.94 Stop=$25.11
POSITION: OSIS 10G25.00 - July $25c (63 delta) &/or Stock
Downside:
Play Date: 02/08/2010
AMZN (Amazon.com--$116.83; -0.56; optionable)
http://biz.yahoo.com/p/a/amzn.html
After Hours: $116.67
EARNINGS: 01/28/2010
STATUS: AMZN has formed a broad top the past four months. It gapped higher in October on earnings and rallied well. When it made a new rally high in December, however, MACD failed to make a high with it: divergent top showing a loss of momentum. It sold back but rallied back to end January, bouncing ahead of earnings. AMZN posted strong earnings but it sold on the news. It has held the line at the early November low, working laterally the past week. Gapped higher Monday but failed at the 10 day EMA and rolled back down. Looking for AMZN to continue the rollover and work on filling that gap. Our initial target is not as ambitious as a full gap fill, but it is a good start with a 42%ish gain.
VIDEO: http://investmenthouse1.com/ihmedia/AMZN.wmv
Volume: 9.898M Avg Volume: 10.563M
BUY POINT: $116.47 Volume=12M Target=$108.55 Stop=$120.68
POSITION: AMZN 10P120.00 - Apr. $120p (-53 delta)
Play Date: 02/08/2010
CAL (Continental Airlines--$17.36; -0.02; optionable): Airlines
http://biz.yahoo.com/p/c/cal.html
After Hours: $17.27
EARNINGS: 01/21/2010
STATUS: Gap. CAL rallied to a new rally high in January. As it announced earnings it hit that high, but it could not hold it. CAL sold back to test some of those gains, but it held above the 50 day EMA (18.02) and bounced. Last Thursday CAL gapped lower, moving through the December consolidation. It bounced and tested the 50 day EMA on the Monday high and faded back, giving all the gain up. A gap tends to continue in the direction of the gap, and as CAL could not break back up into the gap zone and indeed fell away from it after testing it we are looking for CAL to continue selling. As it continues lower we will move in and ride it to our initial target for a 55%ish gain.
VIDEO: http://investmenthouse1.com/ihmedia/CAL.wmv
Volume: 4.247M Avg Volume: 6.836M
BUY POINT: $17.15 Volume=9M Target=$15.08 Stop=$18.28
POSITION: CAL 10O18.00 - Mar. $18p (-50 delta)
Play Date: 02/08/2010
QID (QQQ Proshares UltraShort ETF--$21.58; +0.28; optionable)
After Hours: $21.58
STATUS: Taking another look at as NASDAQ 100 failed to follow through on the Friday reversal, sagging back Monday as it gave away an early gain. We are ready to move in as QID moves higher (as NASDAQ 100 moves lower) and ride QID as NASDAQ moves to its next support. A move to the target lands a 75%ish gain.
VIDEO: http://investmenthouse1.com/ihmedia/QID.wmv
Volume: 21.167M Avg Volume: 15.296M
BUY POINT: $21.65 Volume=20M Target=$24.21 Stop=$20.66
POSITION: QID 10D21.00 - Apr. $21c (59 delta) &/or Stock
Play Date: 02/08/2010
SLG (SI Green Realty--$44.18; -1.36; optionable): Retail REIT
http://biz.yahoo.com/p/s/slg.html
After Hours: $44.18
EARNINGS: 01/25/2010
STATUS: Rollover. SLG is another stock we are playing again as it starts to break to the downside. It peaked in late December but MACD failed to do the same. It has made two lower highs since. Friday SLG tried to reverse and made some upside progress, but it could not punch back over the 50 day EMA after falling back through it last Thursday. Monday was the classic gap and rollover, making a new closing low this year, closing just below the range formed since late January. Looking to move in as SLG continues lower. A move to our initial target lands a 41%ish gain.
VIDEO: http://investmenthouse1.com/ihmedia/SLG.wmv
Volume: 1.489M Avg Volume: 1.869M
BUY POINT: $44.04 Volume=2.5M Target=$40.03 Stop=$46.41
POSITION: SLG 10Q45.00 - May $45p (-50 delta)
Good Investing!
Jon L. Johnson and the Stock Split Report 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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