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us stock market, stock watch
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:
Continuing plays ready to move:
Play Date: 06/07/2010
CNC (Centene--$23.34; +0.23; optionable): Health care plans
http://biz.yahoo.com/p/c/cnc.html
After Hours: $23.34
EARNINGS: 07/27/2010
STATUS: Double bottom w/handle. Short step higher Thursday, starting to move up from the 10 day EMA. Doing a pretty good job, but now needs stronger volume with continued upside to give us the buy. Close to hitting out mark, and now we wait and see if it can. 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: 234.032K Avg Volume: 688.852K
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: 06/14/2010
DLM (Del Monte Foods--$14.96; -0.20; optionable): Processed and packaged food
http://biz.yahoo.com/p/d/dlm.html
After Hours: $14.84
EARNINGS: 08/30/2010
STATUS: Flag. Slid back Thursday, tapping the 50 day EMA on the low and then reversing to hold the 18 day EMA. Did finish lower with this test, but after checking up at the 50 day EMA, it may be ready. Could start up for us Friday, so will keep a close eye on it. To recap: You have to eat no matter what the economic conditions. After a solid March through late April surge that tested toward a 10 year high, DLM tested back through early last week, bracketing the 50 day EMA as it tested. Surged higher starting Tuesday, picking up some big volume Thursday as it gapped to the April peak. Testing back Friday and Monday, holding over the 10 day EMA as it does. Might take another day or two to test, but a very nice setup to make the next break higher. Want to see a move through the buy point on more solid trade.
Volume: 3.611M Avg Volume: 1.884M
VIDEO: http://investmenthouse1.com/ihmedia/DLM.wmv
BUY POINT: $15.44 Volume=2.2M Target=$18.55 Stop=$14.39
POSITION: DLM 10I15.00 - Sept. $15c (59 delta) &/or Stock
Play Date: 06/16/2010
JPM (JP Morgan--$38.44; -0.08; optionable): Major bank
http://biz.yahoo.com/p/j/jpm.html
After Hours: $38.30
EARNINGS: 07/15/2010
STATUS: Rolling. Nice sidestep after an upside break Tuesday. JPM remains in good shape to start that new roll up in its range, moving off the bottom support. To recap: JPM continues to show resilience at the February low. Bounced off that level in late May but then failed, coming back again to the February low, undercutting it but then immediately recovering that level. A lateral move above that level and then a break higher Tuesday, followed by a Wednesday break over the top of that lateral move. Watching MACD make a higher low as the stock made a lower low last week, and that shows a positive divergence in the bottom, i.e. that it is gaining momentum. If JPM can make the break through the buy point and hold it, we are looking to move in with the intention of playing a roll back up in its range. The initial target is the January peak.
VIDEO: http://investmenthouse1.com/ihmedia/JPM.wmv
Volume: 34.723M Avg Volume: 46.049M
BUY POINT: $38.73 Volume=50M Target=$44.77 Stop=$37.12
POSITION: JPM 10I38.00 - Sept. $38c (56 delta) &/or Stock
Play Date: 06/15/2010
NETL (Netlogic Microsystems--$29.99; +0.15; optionable): Semiconductors
http://biz.yahoo.com/p/n/netl.html
After Hours: $29.99
EARNINGS: 07/28/2010
STATUS: Reverse head and shoulders. As with many stocks, a bit of side-step Thursday as NETL pauses after some solid upside that moved it past the early June peak. If it catches fire upside we can start some more positions. To recap: Looking at adding some positions on our current play as NETL has morphed its pattern into a bit of a reverse head and shoulders, forming the right shoulder the past two weeks. Tuesday NETL broke through the neckline resistance on the best volume in over a week, clearing the 50 day EMA on the way and holding just about all of the gain on the session. Solid upside break and ready to move into more positions as NETL continues this new move.
VIDEO: http://investmenthouse1.com/ihmedia/NETL.wmv
Volume: 1.146M Avg Volume: 1.591M
BUY POINT: $29.88 Volume=2M Target=$34.89 Stop=$27.79
POSITION: NETL 10J27.50 - Oct. $27.55c (67 delta) &/or Stock
Play Date: 06/16/2010
PII (Polaris--$61.58; +0.69; optionable): ATV's, PWC's
http://biz.yahoo.com/p/p/pii.html
After Hours: $60.83
EARNINGS: 07/12/2010
STATUS: Flag. Sweet pullback with a tap at the 10 day EMA on the low and a rebound for a modest gain. Locked and loaded, and if it continues higher through the buy we like it. To recap: After a good run through Friday with a gap higher Monday, PII is pausing, moving laterally, holding the modest Monday upside gap. This last move occurred off the second test of the 50% Fibonacci retracement of the February to April run higher. A nice double bottom at that 50% level and the break higher over the 'hump' in the double bottom Now it is testing, and while it may take another day or two to finish (or it may jump back up Thursday), when PII makes the break higher we are looking to move in for a run up to the 127% Fibonacci extension just over 71.
VIDEO: http://investmenthouse1.com/ihmedia/PII.wmv
Volume: 395.769K Avg Volume: 476.032K
BUY POINT: $62.31 Volume=650K Target=$71.00 Stop=$58.78
POSITION: PII 10I60.00 - Sept. $10c (57 delta) &/or Stock
Play Date: 06/15/2010
URI (United Rentals--$12.52; -0.11; optionable): Rental and leasing service
http://biz.yahoo.com/p/u/uri.html
After Hours: $12.52
EARNINGS: 07/26/2010
STATUS: Pennant/Flag. Reached down to the coinciding 10 and 18 day EMA Thursday with the lows, but bounced right back to form a doji. Nice, light volume test, and URI is ready if it can start up with stronger trade. A great set up, and now just have to wait for it to start working. To recap: URI rents construction and industrial equipment. It spent a lot of 2010 moving lower, but as of late March it finally caught fire. It rallied nicely and exploded higher in late April on its earnings report. That move built the strong rally that is the foundation for the current 6 week test. URI has come back to fully test the move from when it turned ballistic, i.e. on the April earnings, but it is still holding a lot of the gain off the February low where it bottomed in 2010. Indeed, it is holding the Fibonacci 50% retracement on the twin bottoms in May and early June, just the kind of pattern you want to see at that level. Monday URI gapped over the 50 day EMA but could not do anything with the move. Tuesday URI was on the move on some strong volume. Very solid and ready to move in as URI continues this upside break.
VIDEO: http://investmenthouse1.com/ihmedia/URI.wmv
Volume: 812.337K Avg Volume: 1.95M
BUY POINT: $12.72 Volume=2.1M Target=$14.69 Stop=$11.64
POSITION: URI 10I10.00 - Sept. $10c (69 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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