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stock watch, stock recommendation
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. *********** *************
New Pre-Announcement Play:
Play Date: 03/08/2010
TJX (TJ Max--$41.54; +0.01; optionable): Discount stores
http://biz.yahoo.com/p/t/tjx.html
After Hours: $41.80
EARNINGS: 05/18/2010
STATUS: Flag. TJX blasted higher on earnings to end February, clearing a 16 week base on strong volume and great price moves. The breakout pushed TJX to a new all-time high. A nice surge upside then a slide laterally the past week, holding onto the gains. Really like it when a stock refuses to give up gains. On the Thursday low last week it tapped the 10 day EMA on the low and shot back up, holding well above the 38% Fibonacci retracement. Nice flag has formed. Just looking for TJX to make the break higher out of the flag to give us the buy.
VIDEO: http://investmenthouse1.com/ihmedia/TJX.wmv
Volume: 2.784M Avg Volume: 4.516M
BUY POINT: $41.69 Volume=5.5M Target=$46.95 Stop=$39.98
POSITION: TJX 10G40.00 - July $40c (65 delta) &/or Stock
Play Date: 03/08/2010
UPL (Ultra Petroleum--$46.28; +0.21; optionable): Independent oil and gas
http://biz.yahoo.com/p/u/upl.html
After Hours: $46.28
EARNINGS: 02/12/2010
STATUS: Rolling. UPL has rallied but as with many energy stocks it has not put in the huge moves. Good rally off the July low on into October, hitting a rally high, but then it fell right back into the same range it has traded in since August. It is holding the 45 level as support the past month as it did in August and again in November. Those consolidations at this level preceded nice upside runs. Volume spiked last Thursday as UPL sold, but it also held the 45 level and rebounded the next day on even stronger volume. Monday UPL tested last week's intraday highs and tested back but still closed positive. If this lateral move is going to yield another bounce it is likely to do it soon, so as UPL makes a break higher through the recent intraday peaks and can hold it into the close we are ready to move in.
VIDEO: http://investmenthouse1.com/ihmedia/UPL.wmv
Volume: 1.777M Avg Volume: 1.499M
BUY POINT: $46.94 Volume=2M Target=$53.94 Stop=$44.77
POSITION: UPL 10F46.00 - June $46c (52 delta) &/or Stock
New Play on a current position:
Play Date: 03/08/2010
PDCO (Patterson Dental--$30.66; -0.11; optionable): Equipment for dentists
http://biz.yahoo.com/p/p/pdco.html
After Hours: $30.66
EARNINGS: 05/17/2010
STATUS: Flag. Looking for some more positions on PDCO as it tests gap higher last week that broke it out of a nicely formed cup with handle. Moving laterally the past three sessions over the 10 day EMA, tightening the range in the flag pattern. On the next break higher that holds we are ready to add some more positions. Also a good position for a new buy: that first test of the breakout.
VIDEO: http://investmenthouse1.com/ihmedia/PDCO.wmv
Volume: 903.083K Avg Volume: 1.244M
BUY POINT: $30.84 Volume=1.3M Target=$35.94 Stop=$29.96
POSITION: PDCO 10G30.00 - July $30c (57 delta) &/or Stock
Downside:
Play Date: 03/08/2010
ATHN (Athenahealth--$38.96; -0.24; optionable): Healthcare software
http://biz.yahoo.com/p/a/athn.html
After Hours: $38.95
EARNINGS: Delayed announcement from late February on accounting issues
STATUS: Gap/Bear flag. ATHNA is in the computerized healthcare records business, but that did not help it with its own records. It had to delay its earnings on the dreaded 'accounting issues' kiss of death. ATHN gapped lower on the news, gapping through the 200 day SMA and the February low double bottom point. Over the past week ATHN has rebounded, but only to the 200 day SMA (39.31) and those February lows. It is struggling at that level but has not turned over yet. Looks ready to do so, however, and if ATHN falls and holds a loss in the last hour we will look to move in. A move to the initial target lands a 41%ish gain.
VIDEO: http://investmenthouse1.com/ihmedia/ATHN.wmv
Volume: 504.365K Avg Volume: 691.297K
BUY POINT: $38.82 Volume=1M Target=$35.31 Stop=$39.77
POSITION: ATHN 10R40.00 - June $40p (-50 delta)
Play Date: 03/08/2010
KOL (Coal ETF--$37.79; -0.11; optionable)
After Hours: $37.90
STATUS: ABCD Downside. Looking at this ETF again as the components of the coal sector continue to show some bearish action despite the gains. Another gain Friday but then a gap higher Monday and a reversal to close negative. Volume was up a bit. That caught our interest and the pattern is still a good one. So we are willing to take some positions if KOL heads lower from here and holds the loss into the last hour. Some more of this increasing volume on the downside would be a good indication for that move as well. A run to the initial target lands a 70%ish gain.
VIDEO: http://investmenthouse1.com/ihmedia/KOL.wmv
Volume: 580.251K Avg Volume: 601.756K
BUY POINT: $37.57 Volume=800K Target=$34.04 Stop=$38.61
POSITION: KOL 10P39.00 - Apr. $39p (-54 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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stock watch
stock recommendation
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