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Begin part 2 of 3
NOTE: PART 2 PRECEDES PART 1 THIS EVENING. THE PART 1 VIDEO MARKET & TECHNICAL SUMMARY IS AVAILABLE AT THE FOLLOWING LINK. PART 1 AND THE TRANSCRIPT WILL FOLLOW.
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We have DIVIDED the video into component parts: Market Overview, Technical Summary, Economy, and the Next Session. This allows you to choose the segments you are interested in without having to find the spot in a longer video. Click on the link to the portion you wish to view.
MARKET OVERVIEW
TO VIEW THE MARKET OVERVIEW CLICK THE FOLLOWING LINK:
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TO VIEW THE TECHNICAL SUMMARY VIDEO CLICK THE FOLLOWING LINK:
http://investmenthouse1.com/ihmedia/TechnicalSummary.wmv
TO VIEW THE ECONOMY VIDEO CLICK THE FOLLOWING LINK:
http://investmenthouse1.com/ihmedia/Economy.wmv
TO VIEW THE NEXT SESSION VIDEO CLICK THE FOLLOWING LINK:
http://investmenthouse1.com/ihmedia/NextSession.wmv
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HTML CONTINUING PLAY TABLE. Click the following link to view the Continuing Play Table in HTML format:
http://investmenthouse1.com/ihmedia/SSRTable.htm
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CONTINUING PLAYS TABLE
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LEGEND FOR CONTINUING PLAY TABLE
DATE: date play first appeared on report.
PLAY: Denotes the type of pattern or play.
Upside play types: Asc Tri =Ascending triangle; BO=Breakout; Cup=Cup base; Cup hdl=Cup w/handle; DB hdl=Double bottom w/handle; Dbl btm=Double bottom; Flat=Flat base; FlyPlat=Flying Plateau; Pennant=Pennant; Rv H&S=Reverse head & shoulders; Saucer=Saucer base; Test 18=Testing 18 day MVA; Test 50=Testing 50 day MVA; Test BO=Testing the breakout (could be 10 day MVA test, etc.)
Downside play types: CCall=Covered Call; Dsc Tri=Descending triangle; Dbl Top=Double top; H&S=Head & shoulders; Put (generic downside);
PIVOT=Buy point
Tgt=Target stock price for the play. Applies to stock and options.
Vol=Volume for the most recent session.
TgtV=Target volume to enter the play.
Stop=Stop advisory point. This is advisory and we may or may not exit a play if it hits this level depending upon market conditions.
PLAY STATUS: Buy not hit (stock has not hit buy point); Buy not issued (stock has hit buy point but did not enter due to weak volume, poor intraday action, poor market action); Current (ongoing play already entered); Entered today (entered the play that session); Exited (closed the position); Target hit (play hit initial target; will note if took all or partial gain or let run further); Trailing stop (exited using a trailing stop loss).
Upside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
AAPL 07/08 Rolling 203.40 +3.02 138.55 149.91 19M 23M 207.91
Current. Gapped through the 50 day EMA (200.51) and then pressed higher from there, though volume was down below average Tuesday. Trying really hard to just keep rolling higher at this point, and so far is doing a good job. Do have to keep in mind the resistance from the October (205.20) and November (207.00) peaks with further upside though. Key area to see if AAPL can press forward.
AAPL 04/15 Test 20 203.40 +3.02 119.69 132.77 19M 25M 207.91
Current.
AMED 01/30 ABCD Up 59.80 +1.37 57.05 67.95 493K 1.5M 55.88
Current. Sixth consecutive day higher, but nearing the January high (60.50 open) now. This move was on very low volume, so we have to watch that is AMED moves to the prior peak. After this upside, a test would be normal, but will see what AMED can manage Tuesday.
ANN 02/05 Flag 15.19 +0.15 15.12 17.65 1.1M 3.2M 14.06
Current. Short gap up to a doji on below average trade. Really nothing more than continuing the lateral action at the 15 dollar mark that we saw all of last week, so for now just letting it be. Will see if it can start to ride higher with the rising 10 day EMA (14.70).
ASH 01/27 Asc Tri 45.02 +0.96 42.69 49.89 950K 1.5M 41.98
Current. Gapped, tested, and then bounced back to finish the day nicely higher. Really challenging those September highs (44.96 open) with this upside despite the lower volume. At this point will see what else ASH has left in the tank. If it continues, great. If it pauses at 44ish with the earlier February high, that is also ok.
CAGC 02/12 Cup hdl 19.40 +2.10 17.61 21.32 1.7M 1.2M 15.96
Buy Not Hit. Gapped higher and did not come back all session. Really hate gap days for this reason and now will have to see how it tests over the next couple of sessions.
CHK 02/11 Test 20 25.83 +0.87 25.22 29.44 9.1M 18M 23.45
Buy Not Hit. Big gap up that we did not chase Tuesday, but holding at the 50 day EMA (25.85) so it may come back. If it holds the gap up point on a test then with this kind of island reversal (from the gap lower in early Feb then the lateral move followed by this gap up) it is worth a buy. Will see how it starts thing Wednesday.
CMG 01/26 Test BO 103.79 -1.08 98.45 110.00 604K 550K 97.62
Current. Gap higher but then slipped back to finish the day modestly lower. Not too concerned with this downside as it is more just testing that volatile Friday move higher. Could see it test back closer to 100 and still be ok, but would be nice to see continued upside Wednesday. Will see what we get.
CNMD 02/04 ABCD Up 22.48 0.00 22.89 26.45 92K 265K 21.56
Buy Not Hit. Gapped up and then sold right back before bouncing over the 50 day EMA (22.16). Closed with a perfectly lateral move, and for now just letting this one continue to work along. If it can start to run higher we look at entering, but ok to just watch it for now.
CRL 02/09 Cup hdl 36.96 +0.49 36.44 41.94 731K 1.2M 34.77
Buy Not Issued. Gap up, tested to the 10 day EMA (36.33), and then bounced to close nicely higher on the day. Continuing the upside solidly after that Friday move higher, but not ready to jump in yet. Will see if CRL can fade and then bounce with stronger volume to give an entry.
CRS 02/11 ABCD Up 30.37 +2.20 28.38 32.94 574K 675K 25.88
Buy Not Issued. Gapped higher and rallied away from us. Not able to move in with this one, but if it begins to test back we may get the buy. Will see if it can start to fade lower Wednesday and where it holds up.
DNDN 01/21 ABCD Up 32.15 +0.65 29.54 33.48 3.4M 3M 30.31
Current. Finished last week with strong upside on Thursday/Friday with above average volume. Continued the upside Tuesday, but volume continues to fade and finished a short ways off the intraday high. May be showing signs of slowing. Still a strong pattern but a short test back would not hurt it. Will see if DNDN can continue on towards our initial target, or if it starts to pull back before then.
EAT 02/08 Test BO 18.08 +0.27 16.81 19.91 1.8M 2.8M 17.11
Current. Gapped higher, surged further, and then closed back with the doji. Ran higher all of last week, but could not stick any upside past the gap as sellers held their own. This is something to watch as EAT is showing a doji right under that August '09 gap up to a doji (18.33). That move was followed by a gap lower. A better pattern this time around though, so going to let it play out Wednesday.
FCX 02/05 Dbl btm 75.94 +2.26 70.96 84.92 17M 20M 72.52
Current. Gapped higher with the doji, and managed to hold up under the resistance from the 50 day EMA (76.40). Also under the December lows at this level, but holding up for now so letting it run. Will see how FCX can handle this resistance Wednesday, and whether it can hold its ground.
FNSR 02/13 DB hdl 11.71 +0.31 11.75 13.97 729K 1.2M 10.66
Entered today. Started nicely higher and held the move to finish over the January high (11.47). Liked this action enough to move in, and it looks ready to start running higher.
GMCR 02/01 Test BO 82.80 -0.91 86.12 99.88 971K 2M 80.91
Current. Gapped up and then sold back to close lower at the 18 day EMA (82.48). Not the greatest action at this level, but holding up at support for now so letting it be. Would be a plus if it can bounce now, but if not, will see how far it tests before holding.
GOOG 02/05 BullRev 541.30 +8.18 539.42 574.45 3.6M 4M 529.77
Current. Stepped higher to start the week, but did close modestly off the intraday high after tapping up to the 18 day EMA (544.53) and fading back. This one still looks ready to roll higher with this upside on stronger volume, but still seeing that resistance come into play. Ok to let it move laterally in this range, though, so going to see how it plays out over the week.
HANS 02/13 Test 50 39.05 -0.18 39.41 44.94 432K 875K 37.68
Buy Not Issued. Soft fade Tuesday to hold up at the 18 day EMA (39.02). Nothing wrong with this move, but just waiting for the upside before buying. Will see if the upside from last week resumes in the next session or two to give the entry.
HOLX 02/04 Test BO 16.09 +0.09 16.41 19.91 5.3M 5M 15.68
Buy Not Hit. Very modest gains, but do like the long shadow lower that tested to the 18 day EMA (15.83) and then bounced right back. As it continues to work laterally at this 16 mark we will continue to watch it, and just looking for the break higher to give us the entry.
HUM 02/05 ABCD Up 46.01 +0.06 47.69 54.55 1.5M 3.5M 45.44
Current. Still hanging in around the 50 day EMA (46.10) with this lateral action, and left it as it is still bouncing up from the intraday low. Not the greatest action last week, but giving HUM a chance to start sticking at this level. If it can start to hold and turn back higher, just going to let it run and see where it can go.
ILMN 02/10 ABCD Up 37.18 +0.17 36.53 40.97 1.1M 4M 34.42
Current. Not able to post much upside Tuesday, but solid action with the test of the 18 day EMA (36.34) that bounced right back up. Still very low volume, but working as it should so will see if upside this week can move ILMN up over the next resistance at 38ish.
IPAR 01/29 Test BO 13.62 +0.40 13.52 16.00 52K 150K 12.48
Buy Not Issued. Started back higher with the pop up Tuesday, but not much trade so held off the buy. Indeed, not much trade with the lateral action last week either so going to wait longer. A fade back and bounce with more strength would be a great indicator to jump in.
ISRG 01/28 Test BO 334.30 +2.48 335.64 374.75 375K 700K 325.68
Current. Held up last week with the lateral action, and not much more than that Tuesday with the modest gains. However, holding where we want it to and doing its job for now so leaving it. Will see if it can begin to run this week, but that will be difficult unless volume can swell and give it a boost.
JOYG 02/13 Test 20 49.17 +1.89 49.05 55.00 3.2M 4M 45.62
Entered today. Moved higher off the 200 day SMA (44.66) last week, and gave the buy Tuesday as it continued to push solidly higher. Volume was higher with the upside and this one is doing everything as it should. JOYG is ready to run.
MJN 02/09 Asc Tri 45.40 +0.35 47.21 54.55 2.1M 6M 45.54
Buy Not Hit. Short hop higher with this doji, and a nice long shadow lower that reversed into the close. Was lower the last two days of last week, and this is a nice way to start getting back on track. Now will see if further upside can retake the 46 mark and will see where MJN moves to from there.
MR 02/02 Test 50 36.59 +0.11 36.94 41.95 362K 1.4M 34.77
Current. Stepped laterally to start the week, but another doji with a nice bounce up from the intraday low. Gave us the buy last week with the break over the 36 mark, and just testing that level with this lateral action. Looks to be in good shape, and now just seeing when MR resumes the upside.
NETL 02/05 Test BO 54.12 +2.37 50.68 56.94 1.6M 750K 49.98
Current. Fourth session of gains, and still moving very strongly. Volume actually increasing still as it is above average, and NETL closed right near the intraday high. With this action we are just seeing how far it can run; another push or two like this would hit our initial target, but will see how this upside can hold out Wednesday.
NFLX 02/05 Test BO 64.86 +1.68 61.42 69.97 1.4M 2.2M 61.66
Current. Volume was just under average as NFLX ran higher to start this week. A new high with the move as it bumps against that 65 mark. After bumping higher off the 10 day EMA (61.80) last week, NFLX is beginning to run. Now we see if it continues.
NKTR 01/29 Test BO 12.12 +0.20 11.88 13.97 438K 1M 11.22
Current. Stepped higher to meet the January highs (12.19) and then paused there. Volume was below average on the day, but that has been the case over the last week so nothing unusual there. Would like to see the punch through the prior peak with further upside, but will see if we get that Wednesday. At a good level and will see what it can manage over the next couple sessions.
PCLN 02/11 Dbl btm 211.21 +3.43 210.99 229.91 843K 13M 199.77
Entered today. Finished up last week working over the 50 day EMA (206.52), and gave the buy Tuesday as it started to pump higher. Moving out of a nice, short double bottom, and just seeing how it continues to run to finish up the week.
PDCO 02/13 Test 50 29.61 +0.85 29.57 33.89 2M 1.3M 28.32
Entered today. Has tested along the 50 day EMA (28.49) since the beginning of February, but finally made the bigger thump higher Tuesday to give the buy. A strong jump with strong, above average volume to show strength. Will see where it takes us.
PLXS 02/02 Test BO 34.66 +1.24 32.22 39.94 418K 425K 31.82
Current. Splashed higher for the third session of solid upside. Really like the volume that held just over average, and also how it closed right at the intraday high. Nearing an important level with the January peak (35.02) now, but showing strength. Will see if it continues to break through that level with further upside, or if it tests first.
PNRA 01/26 Test BO 73.87 +0.29 71.97 79.50 738K 650K 70.77
Current. Gapped up, sold back, and then finished the day flat with a bounce up from the intraday low. Still trying to stabilize after last week's move on earnings and doing a decent job thus far. Want to see a hold in this range just under the 74 mark, and then we can see if it will break past to start a new leg higher.
RIMM 01/13 Pennant 70.25 -1.08 66.11 79.94 17M 22M 65.32
Current. Nice three day run higher last week, and now just testing with this fade to the 200 day SMA (70.09). Really not bad at all with the lower volume downside after higher volume upside. As it is working solidly we will just let RIMM play out Wednesday and see what it can manage.
RMD 02/10 Test BO 55.45 -0.53 55.08 61.89 607K 6.2M 53.41
Current. Not great as it stepped lower on an upside market day, but a bounce off the intraday low to keep things in check. Will see if this one tries to test back to the 10 day EMA (54.39) before bouncing, or if it can resume the upside right away on Wednesday.
SHLD 02/04 Test 50 92.68 +2.21 91.31 104.89 678K 2.4M 87.68
Current. Mixed signals with this action: broke higher out of the lateral action at the 50 day EMA (88.52), but did so with very low volume. If it can pick up momentum and start to move with volume that would be great. If it continues the sharper upside with no volume though it is likely not a sustained move. Will see if it comes back Wednesday to reload at the 50 day or if it tries to continue.
SJT 02/09 ABCD Up 21.73 +0.63 21.33 24.94 257K 350K 20.23
Current. Gapped up to the prior February high, filled, and then bounced back to finish with a doji. Stronger volume with the move and if it continues to push higher that is fine. If it tests back from this move we let it, but will see where it can hold up.
SOA 01/28 Rev HS 14.30 +0.20 14.16 17.94 532K 1.8M 12.96
Current. Clawed its way higher with very low trade to start the week. Holding up near the prior February highs and at 14ishs support so will see if SOA can hold with lateral action now. If it can, it could start to break higher from there. Going to see how the next few sessions pan out, but it looks ok for now.
TEVA 01/29 Test 50 58.14 -0.72 57.59 64.32 6.5M 6M 56.96
Current. Tapped higher intraday before rolling back to finish lower. Not great as volume was up with the move, but TEVA is holding support with the early February high at 58ish. Will see how it sticks to this level Wednesday and if it starts to turn back higher to continue along its uptrend.
TEX 02/11 Rolling 19.86 +1.08 19.34 23.77 2.2M 2.8M 17.77
Entered today. Worked laterally last week over the 200 day SMA (17.81) before bouncing late in the week. Resumed the upside right away Tuesday to give the buy. A solid mover and looking for that to continue.
TSL 02/13 Test 50 26.05 +1.72 24.68 29.91 3.6M 4M 22.54
Buy Not Issued. Gapped and held the move and is bumping the 26ish mark now. Still room to the upside though, and if it tests back and then starts back up we are really interested in it. Will see if it retreats any Wednesday and where it holds.
WBSN 01/21 DB hdl 20.15 +0.24 19.36 23.44 327K 450K 19.24
Current. Moved higher Tuesday to continue the consistent upside so far in February. There is that intraday high from January (20.22) at this level, but if WBSN continues it should be able to take that light resistance out. Showing it can keep running so at this point leaving it alone.
XTEX 01/29 Pennant 9.50 +0.12 10.01 11.95 125K 525K 9.31
Current. Short gap higher, tested back to the 18 day EMA (9.34), and then bounced to close with a doji. Continuing to the upside still, but doing so with very low trade. Going to have to see if it can continue up to that resistance level at 10, but at the moment it is not showing the strength to move through there.
Downside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
AMZN 02/08 Rollove 117.53 -2.13 117.44 108.55 8.9M 12M 120.68
Buy Not Issued. Interesting weakness on an upside market day with this turn down away from the 18 day EMA (120.64). Acting just as we want it to, and if it can continue lower it is an obvious buy.
BCSI 02/04 BearFla 27.16 +0.54 24.21 22.18 465K 700K 26.44
Current. Gapped over the 50 day EMA (26.83) but it closed well off the intraday high and showed a doji. Decided to see how it tested this gap before deciding to close. If it holds then likely going to close it, but if it can reverse lower Wednesday we can give it more time.
BTU 02/02 BearFla 46.43 +1.98 44.18 40.55 6.9M 7M 42.55
Exited. Was under resistance on Friday, but gapped higher to move through that level Tuesday so we had to shut it down.
CHKP 02/10 BearFla 32.79 +0.05 32.57 30.52 1.8M 2.5M 33.21
Buy Not Issued. Not able to make any headway as it holds under the 50 day EMA (32.85), but not buying as it is still bouncing up off the intraday low. Showing there are still buyers out there. Still at a good level to move in, so will look for the fall lower that sticks before we pick it up.
COH 01/26 BearFla 36.18 +0.71 34.85 32.05 3.5M 5.5M 35.88
Exited. Held under important resistance Friday, but zipped right through it Tuesday so had to bag this one.
CRR 02/09 BearFla 65.80 +0.82 63.38 58.32 126K 450K 66.08
Buy Not Issued. Gapped up over the 50 day EMA (65.48) and closed there with a doji after bouncing up from the intraday low. Still under the early February levels though so there is resistance keeping this one down. Giving it more time to fall back, but waiting to buy until it can really show weakness.
EGOV 02/13 BearRev 7.31 -0.03 7.21 6.04 160K 400K 7.62
Buy Not Issued. Tried to recover late last week, but not able to do anything more than side step Tuesday. Under serious resistance at 7.50 from old lows, and looks primed to tumble lower from this level. Going to see how it plays out over the next couple of sessions, but ready to jump in if EGOV breaks down.
HAL 02/13 BearFla 31.05 +1.03 29.65 26.55 15M 18M 30.44
Buy Not Hit. Gapped up through serious resistance and never came back. Not a set up for the downside now so dropping it.
IYT 02/09 BearFla 72.11 +1.31 71.11 68.08 328K 1.2M 72.48
Buy Not Issued. Gapped higher and then ran, but did close at the 50 day EMA (72.11) so leaving this one on. Also very low volume upside so the downside is still in play. Will see if it fails at this resistance, though.
MA 02/13 BearFla 225.30 -0.18 224.42 212.00 1.8M 2M 230.11
Buy Not Hit. Eased laterally Tuesday to continue the two week horizontal action between 220-230. Still in a position to roll lower, but could possibly continue laterally until bumping the 10 day EMA (230.88). If it does that, it could get shoved lower. A break down before then is also very possible. Will have to see if it shows weakness in the coming days.
MFLX 01/23 Put 21.77 +0.37 24.22 22.00 111K 175K 21.71
Current. Stepped moderately higher Tuesday, but holding easily under the 10 day EMA (22.00) with the low volume action. Still looks like a test higher after the strong fall, so letting it play. This is the area we want to see it hold, though, so want to see topping signs soon.
MON 02/04 BearFla 77.29 +1.47 75.56 70.15 3.1M 6M 76.78
Current. Gapped higher, but on very low volume and could not move through the 18 day EMA (77.30). Ok to see if MON can fade back from this level so leaving it on. If it does not fade back we close it.
MSTR 02/11 BearFla 86.14 +1.34 84.77 77.48 145K 200K 86.82
Buy Not Hit. Bounced higher again, but a low volume move to near resistance with the 10 day EMA (86.22). Moved the buy point as it holds under resistance and is set to break down. Will see if it can fall in the next session or two to give us the buy.
QID 02/09 Rollove 19.97 -0.49 21.21 24.21 12M 20M 20.66
Exited. Gapped lower as the quad Q's got bumped higher. As it was not able to hold the 50 day EMA (20.41) support it was time to shut it down.
SDS 02/08 Rollove 35.71 -1.18 37.21 41.45 34M 45M 35.95
Buy Not Issued. Gave up the 50 day EMA (36.15) as the SP500 jumped so time to drop this one.
SLAB 01/23 BearFla 45.92 +0.68 43.87 40.77 566K 850K 42.88
Exited. Held near resistance at the 50 day EMA (45.03) with that Friday jump higher, but had to give this one the axe as it continued on up Tuesday. Not going to hang onto it at this level.
SLG 02/08 Rollove 47.94 +1.98 44.04 40.03 1.5M 2.5M 46.41
Buy Not Issued. This on surged with better volume up through the important resistance points. Dropping it for now but will see if it can set back up.
SNDK 02/04 BearFla 27.34 +0.36 26.10 23.22 9.2M 12M 27.48
Current. Gapped up to a doji, but holding that January post gap level (27.23 open) so leaving it. Getting treacherous at this level, but if it can hold we will leave it on. Downside Wednesday would be great, but if it continues to bounce we do not want to see it close too much higher.
SSD 02/13 BearFla 24.95 +0.28 24.35 21.32 128K 300K 25.21
Buy Not Hit. Jumped up over the 200 day SMA (24.69), but still holding under great resistance with the low volume move. Like this bear flag set up a lot, and going to see if it breaks back down to give us the buy.
TRLG 01/23 Rollove 19.27 +0.12 19.54 17.54 180K 750K 19.72
Current. Very slight upside Tuesday, and looking less promising with the bounce off the intraday low at 19. Key level to give up at 19 and not doing that with this action. This is one that needs to show weakness very soon or it may be safer to just shut it down.
End part 2 of 3
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