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us stock market, trade stock
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: 06/11/2010
ASH (Ashland--$53.06; +1.14; optionable): Chemicals
http://biz.yahoo.com/p/a/ash.html
After Hours: $53.06
EARNINGS: 07/19/2010
STATUS: Flag. ASH looks ready to make us some more money as it did in its great prior run. This time it has formed a flag. A big flag, but a flag. Strong February to early May run up the 10 and 18 day EMA that peaked and rolled over and sold with the rest of the market in May. Fine. It needed the test. Came close to the 200 day SMA on last week's low and reversed off that level. As it moved higher Friday ASH broke through the upper range of the flag channel. If ASH can continue this move we are ready to move into some positions, let it make the initial move, and then pick some more up after we see how it tests. Very nice action as ASH looks ready for a new upside run.
VIDEO: http://investmenthouse1.com/ihmedia/ASH.wmv
Volume: 980.353K Avg Volume: 1.392M
BUY POINT: $53.28 Volume=2M Target=$62.92 Stop=$49.55
POSITION: ASH 10J50.00 - Oct. $50c (64 delta) &/or Stock
Play Date: 06/11/2010
CAGC (China Agritech--$12.06; +1.07; optionable): China fertilizers
http://biz.yahoo.com/p/c/cagc.html
After Hours: $12.20
EARNINGS: 08/16/2010
STATUS: Rolling. CAGC looks as if it is ready to move up after what could have been a false breakdown it flashed last week. That occurs when a stock hits a prior important support level but breaks below it, looking as if it is heading even lower. Then it reverses over that support and suddenly rallies. After falling below a key level at 11.90ish Tuesday, CAGC reversed Friday, moving back up through the support on the best volume in three weeks. That looks like a false bottom, and if CAGC can continue this move we are ready to move into some positions. Then we can look for the first test to pick up a few more if it holds and starts back up. Plenty of upside to take advantage of and indeed our initial target is pretty conservative as CAGC has a long way to climb after that March through May selloff (that we played on the downside and made great money).
VIDEO: http://investmenthouse1.com/ihmedia/CAGC.wmv
Volume: 968.338K Avg Volume: 1.26M
BUY POINT: $12.18 Volume=1.4M Target=$15.42 Stop=$10.38
POSITION: CAGC 10H10.00 - Aug. $10c (88 delta) &/or Stock
Play Date: 06/11/2010
ICON (Iconix Brand Group--$16.10; +0.31; optionable): Branded apparel, shoes
http://biz.yahoo.com/p/i/icon.html
After Hours: $16.10
EARNINGS: 08/02/2010
STATUS: Taking another look at ICON as it sets back up again, showing resilience after selling back just over a week back. ICON rallied March through late April, then tested in May with the overall market. Nothing new there. It bottomed near the 50% Fibonacci retracement level, tried to bounce, but then sold back yet again. Once more it held that level, slightly undercutting it, and then bounced through Friday. Not a lot of trade at all on the upside, but it is now set up well to make the break higher, and if it does show us some better volume as it moves then we will be ready to enter for a run back up toward its prior high and a nice initial gain for the play.
VIDEO: http://investmenthouse1.com/ihmedia/ICON.wmv
Volume: 430.738K Avg Volume: 740.011K
BUY POINT: $16.24 Volume=950K Target=$18.96 Stop=$15.06
POSITION: ICON 10H15.00 - Aug. $15c (54 delta) &/or Stock
Play Date: 06/11/2010
PAY (VeriFone Holdings--$20.06; +0.82; optionable): Electronic payment issues
http://biz.yahoo.com/p/p/pay.html
After Hours: $20.06
EARNINGS: 08/25/2010
STATUS: Breaking higher Friday on strong volume, clearing the upper down trendline in a large triangle formed from march through the present. Made a higher low the past week and rallied nicely Thursday and Friday. Finished off the Friday high so may try and test to start next week, and if it does we can be patient and let it test and then move in as PAY continues higher. If it continues upside from here, we can move in as well as the move looks very solid at this point.
VIDEO: http://investmenthouse1.com/ihmedia/PAY.wmv
Volume: 2.107M Avg Volume: 1.43M
BUY POINT: $20.18 Volume=2M Target=$23.45 Stop=$18.77
POSITION: PAY 10J20.00 - Oct. $20c (56 delta) &/or Stock
Play Date: 06/11/2010
VIT (Vanceinfo Technologies--$21.56; +0.46; optionable): Business software
http://biz.yahoo.com/p/v/vit.html
After Hours: $21.56
EARNINGS: 08/09/2010
STATUS: VIT has made something of a double bottom at the 200 day SMA over the past month and started to break higher this past week off of that key support level. Now some will see a head and shoulders spanning March to present with the current action forming a right shoulder. Maybe it will turn down, but we like the action it is showing and the risk/reward is good. If VIT makes the break higher through our buy point and can stick we are ready to move in to try and catch a run back up to the prior highs as our initial target and a very nice gain.
VIDEO: http://investmenthouse1.com/ihmedia/VIT.wmv
Volume: 335.494K Avg Volume: 721.745K
BUY POINT: $22.02 Volume=700K Target=$25.95 Stop=$20.11
POSITION: VIT 10H20.00 - Aug. $20c (78 delta) &/or Stock
CONTINUING PLAYS READY TO MOVE:
Play Date: 06/10/2010
BIDU (Baidu.com--$72.85; +0.22; optionable): Chinese search
http://biz.yahoo.com/p/b/bidu.html
After Hours: $72.63
EARNINGS: 07/19/2010
STATUS: Test 50 day EMA. Not able to take the big step forward we were looking for, but bounced up from the 18 day EMA and then held nicely into the closing bell. As it looked solid into the close, we picked up a partial position just a hair below our buy point, and now looking for it to continue higher Monday as our cue to pick up more. To recap: 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: 8.56M Avg Volume: 16.664M
BUY POINT: $72.46 Volume=18M Target=$83.94 Stop=$69.88
POSITION: BIDU 10I71.00 - Sept. $71c (58 delta) &/or Stock
Play Date: 06/08/2010
CNC (Centene--$22.91; +0.14; optionable): Health care plans
http://biz.yahoo.com/p/c/cnc.html
After Hours: $22.91
EARNINGS: 07/27/2010
STATUS: Double bottom w/handle. Pulled back for two sessions to the 50 day EMA, then held that point Thursday, showing a doji. Positioned to bounce and did that Friday, just not quite enough to reach our buy. Great setup, and now if it keeps running in this direction early next week we can look at moving in. To recap: A little bit defensive here. Strong, very strong surge in March as CNC went ballistic. It rallied a bit further into mid-April and then sold off into the May pullback. Tested twice, forming something of a double bottom near the late December 2009 peak. Nice bounce, then a handle formed last week just below the 'hump.' Friday as the market sold off CNC broke out. Monday it sold intraday then rebounded to flat. Great strength and plenty of room upside to make us some good money. If it continues this move higher, that is our trigger to move into positions.
VIDEO: http://investmenthouse1.com/ihmedia/CNC.wmv
Volume: 208.757K Avg Volume: 702.792K
BUY POINT: $23.88 Volume=950K Target=$27.94 Stop=$22.41
POSITION: CNC 10I22.50 - Sept. $22.50c (60 delta) &/or Stock
Play Date: 06/10/2010
DTG (Dollar Thrifty Auto Group--$45.23; +0.19; optionable): Auto rentals
http://biz.yahoo.com/p/d/dtg.html
After Hours: $45.23
EARNINGS: 08/04/2010
STATUS: Pennant. Inched higher Friday to finish out the week snugged right up against the 18 day EMA. This one is ready to move, but first it has to take out the moving average. So we watch it Monday to see if it can bounce with stronger volume, and if it sticks that is our signal to jump on it. DTG made us some excellent coin this year. Over the past 5 weeks it has formed series of lower highs but has constant lows at the late April gap up point, now coincident with the rising 50 day EMA. Very solid pattern and a very nice test is setting up the next move. If that move is a break upside on some volume, moving through the 18 day EMA, we are ready to enter for a continued rally after this very nice consolidation.
VIDEO: http://investmenthouse1.com/ihmedia/DTG.wmv
Volume: 361.696K Avg Volume: 1.302M
BUY POINT: $45.57 Volume=1.7M Target=$52.24 Stop=$42.54
POSITION: DTG 10J45.00 - Oct. $45c (56 delta) &/or Stock
Play Date: 06/05/2010
ORBK (Orbotech--$11.59; -0.04; optionable): Electronics parts and products
http://biz.yahoo.com/p/o/orbk.html
EARNINGS: 08/02/2010
STATUS: Double bottom w/handle. ORBK tested early in the week to hold the 50 day EMA, and then bounced firmly up from there Thursday. Was not able to continue the upside Friday, but with a nice reversal off the intraday low at the 50 day EMA, the stock still looks ready to move. Now if it can start back up off this doji, we consider picking it up. To recap: Familiar story: started the last rally in February, surged through late April, then selling back in May in the flash crash and subsequent test. The selling formed a pair of lows at the 200 day SMA, prompting a nice rally last week. ORBK made it to the 'hump' in the pattern midweek, then slipped back Thursday and Friday to close the week. No heavy selling, however, as seen in the market overall. Indeed ORBK tested lower toward the 10 day EMA and rebounded on a very strong volume surge. It may test a couple more days to finish the handle, but we are going to be patient and let it set up and then show us the breakout. Our initial target is somewhat conservative, but given the market we will be a bit conservative, taking part of the gain when it presents itself, saving some positions for further rallying.
VIDEO: http://investmenthouse1.com/ihmedia/ORBK.wmv
Volume: 83.191K Avg Volume: 91.769K
BUY POINT: $12.02 Volume=125K Target=$13.94 Stop=$11.18
POSITION: Stock - (No option chain)
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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