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
ANN (Ann Taylor--$21.15; +0.98; optionable): Clothing stores
http://biz.yahoo.com/p/a/ann.html
After Hours: $21.12
EARNINGS: 08/16/2010
STATUS: ABCD up. After that solid February to early May run ANN was out of gas. Made us some good money on that run, but now it needs a test. Stair-stepping back the past 5 weeks, making a lower high and this week a lower low. Tuesday ANN tested down hard and reversed, and that momentum has held through the Thursday close as ANN rallied to close at the 50 day EMA. If ANN can continue upside on through the 50 day (21.16) we are ready to move into some positions for a run back up to the pattern high as our initial target.
VIDEO: http://investmenthouse1.com/ihmedia/ANN.wmv
Volume: 2.004M Avg Volume: 2.38M
BUY POINT: $21.44 Volume=2.8M Target=$24.94 Stop=$19.74
POSITION: ANN 10I20.00 - Sept. $20c (63 delta) &/or Stock
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
Good Investing!
Jon L. Johnson and your IH Alerts Team
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 in 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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