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Begin part 3 of 3
THE PLAYS:
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Each play contains a 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. *********** *************
Upside:
New Post-Split Plays:
Play Date: 02/24/2010
BWA (Borg Warner--$38.14; +0.67; optionable): Auto parts
http://biz.yahoo.com/p/b/bwa.html
After Hours: $38.14
EARNINGS: 02/11/2010
STATUS: Triangle. BWA broke from a 7 month trading range to start January, and has trended higher since, forming a triangle. Nice upside break Monday, a test Tuesday, but it held on and was back up Wednesday. The move Wednesday is holding the break and we are looking for BWA to continue higher for our entry and a continued upside run on this breakout move.
VIDEO: http://investmenthouse1.com/ihmedia/BWA.wmv
Volume: 1.189M Avg Volume: 1.21M
BUY POINT: $38.62 Volume=1.8M Target=$44.88 Stop=$36.31
POSITION: BWA 10G35.00 - July $35c (78 delta, wide sprd) &/or Stock
Play Date: 02/24/2010
CMI (Cummins--$55.95; +0.31; optionable): Industrial machinery
http://biz.yahoo.com/p/c/cmi.html
After Hours: $55.98
EARNINGS: 04/27/2010
STATUS: Flag. CMI has led the industrial sector higher with a strong surge to start February, gapping higher and rallying through last week, moving to a new rally high from the March 2009 low. This week CMI is testing back, forming a flag pattern that has found support at the 10 day EMA the past two sessions, right at the January peak as well as holding over the 38% Fibonacci retracement. Nice doji Wednesday, and we are watching for CMI's bounce off this level to give us a buy.
VIDEO: http://investmenthouse1.com/ihmedia/CMI.wmv
Volume: 2.429M Avg Volume: 2.457M
BUY POINT: $56.31 Volume=3M Target=$64.85 Stop=$53.88
POSITION: CMI 10F55.00 - June $55c (58 delta) &/or Stock
Leader Plays:
Play Date: 02/24/2010
CRL (Charles River Labs--$37.73; +0.94; optionable): Biotech (live animal services)
http://biz.yahoo.com/p/c/crl.html
After Hours: $37.73
EARNINGS: 02/08/2010
STATUS: Cup w/handle. CRL is back on the table as it holds the 18 day EMA on a three day pullback, then blasts higher Wednesday on strong, above average volume, the best volume in three weeks. Nice comeback Charles. Broke over the February peak with that Wednesday move and we are looking to move in ourselves as CRL continues this break higher.
VIDEO: http://investmenthouse1.com/ihmedia/CRL.wmv
Volume: 1.028M Avg Volume: 719.453K
BUY POINT: $37.84 Volume=1.2M Target=$43.88 Stop=$35.67
POSITION: CRL 10E35.00 - May $35c (72 delta, low OI) &/or Stock
New play on a current position:
Play Date: 02/24/2010
PCLN (Priceline.com--$225.02; -0.07; optionable): Online hotels, travel
http://biz.yahoo.com/p/p/pcln.html
After Hours: $224.51
EARNINGS: 02/17/2010
STATUS: Flag. PCLN gapped higher on its strong earnings, making us some nice coin. We said at the time we would watch for how the gap filled for our next entry point. Well, the past four sessions PCLN has tested, coming back to the 10 day EMA on the Wednesday low, tapping that level and then reversing to close flat with a nice hammer doji. Excellent action and we are looking to move into more positions as PCLN makes the continued bounce higher. Nice.
VIDEO: http://investmenthouse1.com/ihmedia/PCLN.wmv
Volume: 898.482K Avg Volume: 989.036K
BUY POINT: $226.92 Volume=1.2M Target=$247.22 Stop=$219.54
POSITION: PCLN 10G220.00 - July $220c (59 delta)
Downside:
Play Date: 02/24/2010
KOL (Coal ETF--$34.56; +0.70; optionable): Coal ETF
After Hours: $34.41
STATUS: Head and shoulders. Not a perfectly symmetrical pattern but you can see the left shoulder, the head, the right shoulder. Indeed, KOL is in the process of rolling over in the right shoulder of the 2.5 month pattern. Tuesday KOL sold sharply on rising volume though it was still below average volume. Gapped higher Wednesday, but after trading up close to the Tuesday high it faded to give back much of the gain. Volume was lower, not providing any upside push. At the end of the day KOL showed a hammer doji. Looking for KOL to fail here and head lower. That is when we move in for a run down near the February low. There is support at 30 from the October low, late September consolidation, some August peaks . . . you get the idea. A move to that level lands a 65%ish gain on our put options.
VIDEO: http://investmenthouse1.com/ihmedia/KOL.wmv
Volume: 363.458K Avg Volume: 605.337K
BUY POINT: $34.27 Volume=725K Target=$30.76 Stop=$35.78
POSITION: KOL 10P35.00 - Apr. $35p (-45 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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