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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. *********** *************
TODAY THE VIDEO IS LIMITED TO A GRAPH OF THE STOCK CHART DUE TO THE ISSUES REGARDING JON JOHNSON'S FAMILY MEDICAL ISSUE. WE APOLOGIZE FOR THIS BUT THE WRITE-UPS ARE DETAILED AND WE WILL RETURN WITH THE VIDEOS. THANK YOU FOR YOUR UNDERSTANDING.
Upside:
Play Date: 06/23/2010
DECK (Deckers Outdoor--$156.97; -3.36; optionable): Shoes, accessories. Splits 3:1 on 7-6-10
http://biz.yahoo.com/p/d/deck.html
After Hours: $160.39
EARNINGS: 07/21/2010
STATUS: Breakout test. Looking for another shot at DECK, and after a great surge higher after the first week of June it is pulling back to test. That surge broke DECK out of an 8 week double bottom w/handle base, sending it to a new high. When that happens you typically get a test of the move and we always look at that as an opportunity for a play. DECK started to stall some last week, and this week it has come back both sessions, now approaching the early June peak (154.12 closing). We are looking for a test in that general 154 area and then a rebound to give us the entry as it moves back up through our buy point after the test. If it doesn't make it that far then we see where it lands and then move in as it rebounds and shows it is holding the move to the close.
VIDEO: http://investmenthouse1.com/ihmedia/DECK.wmv
Volume: 573.329K Avg Volume: 487.946K
BUY POINT: $154.44 Volume=700K Target=$174.91 Stop=$149.38
POSITION: DECK 10I155.00 - Sept. $155c (59 delta) &/or Stock
Play Date: 06/23/2010
KLIC (Kulicke & Soffa--$7.66; -0.28; optionable): Chip equipment
http://biz.yahoo.com/p/k/klic.html
After Hours: $7.66
EARNINGS: 07/26/2010
STATUS: Double bottom w/handle. KLIC is another chip equipment stock that is setting up nicely for an upside move . . . as long as it can complete this current pattern and show us the goods, i.e. a breakout. Nice rally into April but it peaked and needed a base to rest. It has put in some good work, forming a double bottom at the 200 day SMA and then rallying over the past two weeks on some decent upside volume. The past week a lateral move to form the handle, and though Tuesday was a bit rocky in terms of how much it tested, it is still above the 18 day EMA and the February and March peaks, a logical support area for the handle test. Watching for KLIC to hold this general area and then make an upside break through the buy point that sticks to the close. If it can do that, and it may take another day or two or three, then we are ready to move in with the buy.
VIDEO: http://investmenthouse1.com/ihmedia/KLIC.wmv
Volume: 1.153M Avg Volume: 2.181M
BUY POINT: $7.75 Volume=2.5M Target=$9.38 Stop=$7.21
POSITION: KLIC 10J7.50 - Oct. $7.50c (64 delta) &/or Stock
Play Date: 06/23/2010
MICC (Millicom Cellular--$85.00; -0.58; optionable): Foreign telecom
http://biz.yahoo.com/p/m/micc.html
After Hours: $85.52
EARNINGS: 07/20/2010
STATUS: A strong stock that we like to play when it sets up, MICC is currently posting a short flag pattern after a nice rally off a 200 day SMA test. It put in the 'typical' rally from February through April seen in most quality stocks and then got the May dips. It held the 200 day SMA twice, however, during this 9 week pullback, forming something of a cup with handle. After that rally off the 200 day this month MICC is testing back to the 50 day EMA (84.30), a logical support level. We will watch and see if MICC can hold around this support and then deliver a solid move upside on some rising volume (below average trade the past two weeks). If it can break the buy point and hold it to the close we are looking to move in and catch a run toward 100 by this solid stock.
VIDEO: http://investmenthouse1.com/ihmedia/MICC.wmv
Volume: 429.098K Avg Volume: 645.423K
BUY POINT: $86.48 Volume=800K Target=$99.89 Stop=$83.81
POSITION: MICC 10J85.40 - Oct. $85.40c (57 delta) &/or Stock
Play Date: 06/23/2010
NVLS (Novellus Systems--$27.67; -0.40; optionable): Semiconductor equipment
http://biz.yahoo.com/p/n/nvls.html
After Hours: $28.07
EARNINGS: 07/21/2010
STATUS: Breakout test. NVLS was one of those chip stocks that took off like a shot in early June, exploding off something of a triple bottom in that May pullback/selloff in the market. Kind of a ragged cup, but it worked for NVLS and it exploded higher last week to a new rally high. This week it is testing, sliding back toward the 10 day EMA and the April peak (marking the top of NVLS' run since its 2009 low) on nice, low volume. Unlike the market overall, NVLS' run upside was on solid, above average trade and thus this pullback shows few sellers, just some profit taking. Looking for NVLS to hold in the 10 day EMA range (27.45) and post the rebound for a continued breakout move. That is when we move in.
VIDEO: http://investmenthouse1.com/ihmedia/NVLS.wmv
Volume: 1.96M Avg Volume: 3.509M
BUY POINT: $27.96 Volume=4.2M Target=$32.00 Stop=$27.21
POSITION: NVLS 10I27.00 - Sept. $27c (57 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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