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Begin Part 2 of 2
THE PLAYS:
Good movers on Wednesday: Again the downside was active with CEPH; TKTX; LTR; NCOG, etc.
Wednesday plays:
HTLD: Still in the handle on low volume.
PTEK: A tight doji. May be ready.
RML: Trading back a bit harder than we want, but still in the pattern.
Best Plays:
1) CHUX: Ready for a new high.
2) MANT: New issue in a good base.
3) LBIX: Looks ready to move back up.
New Plays
Upside:
CHUX (OCharleys--$24.52; +0.02; no options): Food joint
http://biz.yahoo.com/p/c/chux.html
STATUS: Near an all-time high, pulling back to form a handle to a 9-week cup w/handle base. Excellent money flow leading the price, and accumulation weeks outpace distribution weeks in the base 5 to 1; excellent accumulation. CHUX looks poised to make a new high in another rally.
Volume: 235K Avg Volume: 158.545K
BUY POINT: $26.1 Volume=250K Target=$31.34 Stop=$23.95
POSITION: Stock (no option chain)
http://www.investmenthouse.com/cd/chux.html
MANT (Mantech Intl.--$23.3; +0.2; no options): Business software
http://biz.yahoo.com/p/m/mant.html
STATUS: A new issue in February, MANT has formed a 2.5 month cup and may be trying to form a handle this week. Pretty short handle, however. Nonetheless, there are a lot of things we like about the stock and the pattern. It is in its first base after being issued. We like to let new issues move through their first base and pick them up when they break out. In the base accumulation weeks lead distribution weeks 5 to 1; that is very solid accumulation. We are looking for the breakout.
Volume: 150.5K Avg Volume: 97.227K
BUY POINT: $24.25 Volume=150K Target=$29.25 Stop=$21.92
POSITION: Stock (no option chain)
http://www.investmenthouse.com/cd/mant.html
Revisited:
LBIX (Leading Brands--$2.70; -0.05; no options): Wholesale food
http://biz.yahoo.com/p/l/lbix.html
STATUS: Testing the breakout from 4.5 month flat base, falling to the 18 day MVA on the low (2.65) and showing a shooting star doji. Volume was lower and below average. This looks like a routine pullback after a strong breakout, and we want to capture some more positions on a move back up.
Volume: 89K Avg Volume: 116.863K
BUY POINT: $2.95 Volume=350K Target=$3.55 Stop=$2.50
POSITION: Stock
http://www.investmenthouse.com/cd/lbix.html
TEN (Tenneco Automotive--$7.09; +0.18; no options): Auto parts
http://biz.yahoo.com/p/t/ten.html
STATUS: Bucking the trend in Auto parts, TEN broke out Monday, not giving us a really good buy point as it gapped up and closed near the low. Same Tuesday. We were anticipating a pullback to test 6.50, but then today it started back up on some rising, above average volume. If no test, it is a very strong move, and we will look at new positions on a further gain.
Volume: 276.9K Avg Volume: 198.227K
BUY POINT: $7.15 Volume=250K Target=$9.35 Stop=$6.24
POSITION: Stock (no option chain)
http://www.investmenthouse.com/cd/ten.html
PORTFOLIOS: Due to subscriber requests, we are merging the portfolios into one Member Portfolio controlled by the subscribers with periodic surveys on the stocks desired. We had a big response over the weekend and will be putting the new Member Portfolio together soon. If you have not done so, get your choices in now.
MEMBER PORTFOLIO: We have tallied most of the votes, and the following are the current leaders. We are still compiling the additional votes coming in and will have it all put together this weekend.
EBAY, HOTT; LOW, NOC, PG, QLGC, RCII, SRCL, WM
Continuing/Watchlist: We are giving the staff an early night so the play updates will be resumed on the weekend report.
Stock Date Play Close +/- Pivot Tgt Vol AvgV Stop
ABCW 06/20 A Wedge 23.51 -0.09 23.35 27.55 113K 52K 21.65
ACN 05/11 Put 17.5 +0.6 19.7 15.65 3.6M 3.4M 21.30
AVY 06/22 Put 61.03 +0.16 63.49 59 408K 410K 66
AXP 05/08 cup hdl 36.19 -0.64 43.53 52 5.6M 4.9M 40.48
BLI 06/11 Test BO 17.64 -0.47 18.5 22 1.6M 681K 17.30
BWA 06/08 Put 57.32 -0.9 59.99 55 335K 351K 63
BZH 06/18 Put 76.81 -0.09 75.95 72 562K 519K 81
BZH 06/03 Put 76.81 -0.09 74.45 70.45 562K 519K 77
CEPH 06/25 Put 40.15 +1.39 43.2 38 3.3M 2.2M 49.50
CHGO 05/28 Test 18 10.1 -0.1 7.75 10 508K 285K 7.21
CHGO 05/09 Test 50 10.1 -0.1 7.3 10 508K 285K 7.02
CHUX 07/03 cup hdl 24.52 +0.02 26.1 31.34 235K 159K 23.95
CLF 05/15 Test BO 25.81 -0.74 28.2 34 43K 82K 26.90
CNI 06/26 cup hdl 51.05 -0.12 52.9 63.25 646K 434K 49.55
COH 06/03 Put 50.43 -0.73 49.65 45 601K 520K 52
DESI 05/29 Test 18 5.93 -0.12 7.25 11 80K 136K 6.74
DGX 01/31 cup hdl 78.32 +3.31 68.9 100 1.5M 1M 84
DLTR 05/09 Flat 35.15 -1.32 38.95 33 1.8M 1.2M 36.22
DROOY 05/21 A Wedge 3.73 -0.05 4.85 7 5.5M 4.5M 4.30
ELK 06/01 DB hdl 27.13 -0.11 27.46 34.96 108K 101K 24.95
ENC 05/06 Rv H&S 8.64 -0.14 7.3 9.5 72K 36K 6.79
EXAS 06/15 cup hdl 13.04 -0.93 15.3 18.5 256K 128K 12
FDP 06/26 Test 18 25.22 +0.14 27.1 32.5 257K 261K 25.25
FDP 05/21 A Wedge 25.22 +0.14 24.75 29.7 257K 261K 23.02
FHCC 06/11 cup hdl 27.31 +0.54 29.85 36 542K 943K 27.76
FORG 06/15 Test BO 4.22 -0.59 5.15 6.85 273K 148K 4.20
FRX 06/10 Put 69.6 +0.58 72.45 68 1.5M 1.3M 75
HARB 06/22 BO 23.56 -0.3 24.11 29 41K 51K 21.75
HLT 05/06 Put 12.64 -0.32 14.3 12 3M 1.9M 15.80
HLYW 05/29 Test 18 19 +0.32 19.25 27 974K 731K 17.9
HOTT 06/12 Test BO 24.34 -0.51 27.05 32 721K 700K 24.64
HOTT 05/29 Test BO 24.34 -0.51 26.5 32 721K 700K 24.64
HTLD 07/02 cup hdl 22 -0.61 24.19 29 152K 245K 22
IMH 03/26 A Wedge 11.35 -0.58 8.95 11.2 941K 434K 9.50
IVGN 07/01 Put 29.98 +0.58 28.65 23.55 4.4M 1.1M 32.55
KMI 06/19 Put 37.92 +0.32 40.75 37 477K 707K 43.25
KMI 05/25 Put 37.92 +0.32 44.75 40.25 477K 707K 41.62
LBIX 05/06 Flat 2.7 -0.05 2.95 3.5 89K 117K 2.50
LLL 06/10 Put 49.32 -2.16 59.1 54 2.8M 1.5M 62.50
LTR 06/15 Put 50.6 -0.77 54.95 50.25 787K 483K 57
MANT 07/03 Cup 23.3 +0.2 24.25 29.25 150K 97K 21.92
MBAY 06/25 Dbl btm 4.52 -0.07 5.25 8 43K 162K 4.45
NCC 04/30 cup hdl 32 -0.47 31.42 37.25 1.2M 1.1M 29.75
NCOG 06/22 Put 19.25 -1.45 21.3 18.04 1.6M 216K 24
NWRE 06/26 cup hdl 10.5 -0.27 11.2 13.55 248K 157K 10.35
ORB 06/04 cup hdl 7.43 +0.15 8.02 11.94 126K 341K 7.25
PEET 06/18 A Wedge 17.03 +0.62 18.35 22 177K 241K 16.75
PHLY 07/01 Test BO 42.99 -0.29 46.25 52.25 36K 87K 42.50
PTEK 07/02 Test BO 5.59 -0.02 5.76 7.99 243K 291K 5.24
PTSI 06/24 Flat 25.7 +0.1 26.65 31.98 61K 62K 24.20
RITA 05/28 Cup 9.49 +0.26 10.1 13.9 156K 106K 9.39
RML 07/02 Flat 18.04 -0.49 19.37 23.25 102K 162K 18.01
SAM 06/12 cup hdl 15.75 +0.02 16.85 20.5 30K 36K 15.45
SIE 06/11 Test 18 19.32 -0.78 21.1 25.45 498K 256K 19.62
SNIC 05/30 A Wedge 7.4 +0.05 8.2 11 257K 316K 6.95
SNS 04/12 Test BO 13.89 -0.12 14.8 18 148K 109K 13.76
SNS 04/10 Dbl btm 13.89 -0.12 14.65 18 148K 109K 13.76
SRCL 06/22 Test BO 32.25 -1.8 38.5 45 1.8M 346K 35.8
STT 05/20 Put 42.43 -0.99 47.35 42.5 1.8M 1.5M 51.50
TEN 06/29 BO 7.09 +0.18 7.15 9.35 277K 198K 6.24
TKTX 06/29 Put 32.69 +0.69 34.31 31.25 561K 410K 36.25
TSN 05/22 Test BO 13.48 -0.31 15.15 18 2M 980K 14.50
TSN 05/11 Test BO 13.48 -0.31 14.5 17.5 2M 980K 13.48
UNP 06/22 Cup 62.78 -0.61 64.9 73 1.2M 1.2M 60.36
UNP 06/12 Cup 62.78 -0.61 64.08 73 1.2M 1.2M 61
USPH 06/19 cup hdl 18.08 -1.48 20.05 25 169K 102K 18.65
USPH 06/08 Flat 18.08 -1.48 19.1 24.85 169K 102K 17.25
WTW 05/23 Test BO 42.35 +0.36 43.7 50 342K 272K 40.64
YCC 06/27 Test BO 25.64 +0.34 27.3 32.75 293K 404K 25
ZNT 05/23 A Wedge 29.2 -0.43 31.6 37.94 52K 38K 30
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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