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. *********** *************
Upside:
Play Date: 06/10/2010
BIDU (Baidu.com--$72.63; +5.23; optionable): Chinese search
http://biz.yahoo.com/p/b/bidu.html
After Hours: $72.46
EARNINGS: 07/19/2010
STATUS: Test 50 day EMA. Taking another look at BIDU ahead of its split as it bounces off the 50 day EMA. Tough prior week for the stock, but Wednesday BIDU sold to the 50 day EMA, managing to rebound to hold that level on the close. Thursday BIDU gapped upside on stronger, above average volume. Posted a solid gain, closing out near the session high. Ready to start some positions as BIDU continues to the upside.
VIDEO: http://investmenthouse1.com/ihmedia/BIDU.wmv
Volume: 15.017M Avg Volume: 16.664M
BUY POINT: $73.04 Volume=18M Target=$83.94 Stop=$69.88
POSITION: BIDU 10I71.00 - Sept. $71c (58 delta) &/or Stock
Play Date: 06/10/2010
CMI (Cummins--$70.48; +4.59; optionable): Industrial machinery, engines
http://biz.yahoo.com/p/c/cmi.html
After Hours: $70.30
EARNINGS: 07/27/2010
STATUS: Pennant. Strong February to April run needed a consolidation, and the past six weeks CMI has bounced up and down in a narrowing range around the 50 day EMA. Making higher lows as the tops fade; that is the narrowing range I am talking about. After making a higher low Tuesday, CMI is on the move, gapping higher Thursday and rallying nicely on a good shot of rising, above average volume, breaking a short down trendline. Nice strength and looking to pick up some positions as CMI continues the move upside.
VIDEO: http://investmenthouse1.com/ihmedia/CMI.wmv
Volume: 3.983M Avg Volume: 3.354M
BUY POINT: $70.69 Volume=4M Target=$81.44 Stop=$66.44
POSITION: CMI 10I70.00 - Sept. $70c (54 delta) &/or Stock
Play Date: 06/10/2010
EMS (Emergency Medical Services--$54.45; -0.03; optionable): Medical services (ambulance)
http://biz.yahoo.com/p/e/ems.html
After Hours: $54.45
EARNINGS: 07/30/2010
STATUS: EMS is making a series of higher lows above the rising 200 day SMA as its range narrows over the past four weeks. Bounced off a higher low Tuesday, and on Thursday EMS gapped over the 50 day EMA. Could not hold the move and gave up the 50 day, but still rebounded nicely off the low. Nice test, and as EMS resumes the move we are ready to step in for a run up to the March high as our initial target.
VIDEO: http://investmenthouse1.com/ihmedia/EMS.wmv
Volume: 198.038K Avg Volume: 258.814K
BUY POINT: $55.05 Volume=388K Target=$61.78 Stop=$52.44
POSITION: EMS 10I55.00 - Sept. $55c (52 delta) &/or Stock
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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