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Begin part 2 of 2
THE PLAYS:
Good movers: XOMA; DOCC
Tuesday plays:
GISX: Strong move up to the top of the pattern.
VRTS: Turned back at the 50 day MVA on low volume. Looking for a bounce to send the options back up and make the play.
Best Plays:
1) CYBX: Nice consolidation.
2) SIE: Looks ready to break to a new high.
3) Watchlist/ continuing: CVTX; IWM
NEW PLAYS:
CYBX (Cybertronics--$17.01; -0.24; optionable): Medical equipment
http://biz.yahoo.com/p/c/cybx.html
STATUS: Flat consolidation. After a precipitous drop in January, CYBX has now worked off the July low and just recently broke over the 200 day MVA (16.65) and is moving laterally above that level on falling volume. It is a very tight range, testing the 200 day MVA on the lows. Volume on the break higher was huge, and the good decrease in volume on the later move is good action. CYBX did this in late July and early August before this run. This consolidation is even flatter and tighter, coming on the heels of the good earnings report that helped drive CYBX higher. Accumulation is positive, and we are just going to wait patiently for the breakout.
Volume: 146.839K Avg Volume: 164.909K
BUY POINT: $17.65 Volume=280K Target=$21.25 Stop=$16.41
POSITION: QAJ JC - Oct. $15c (74 delta) and/or Stock
http://www.investmenthouse.com/cd/cybx.html
Downside:
ABK (Amback Financial Group--$57.88; -1.57; optionable): Surety & Title insurance
http://biz.yahoo.com/p/a/abk.html
STATUS: Put. Hung around below the 200 day MVA and the June downtrend line for the past week. Tuesday the stock started to sell again as volume spiked up to well above average levels. Money flow is diving ahead of the price as the stock appears ready to break below the early August lows.
Volume: 1.2M Avg Volume: 822.09K
BUY POINT: $57.94 Volume=850K Target=$53.15 Stop=$60.25
POSITION: ABK UL - Sept. $60 p (-59 delta)
http://www.investmenthouse.com/cd/abk.html
Revisited:
SIE (Sierra Health Services--$22.9; +0.55; optionable): Health care plans
http://biz.yahoo.com/p/s/sie.html
STATUS: Ascending wedge. SIE has moved up well and is now consolidating that move with a bullish ascending wedge pattern, a pattern. This pattern shows constant tops and rising lows. The lows have been moving up the 18 day MVA and the stock is pinching in the end of the pattern. Looks ready for an upside breakout.
Volume: 219.2K Avg Volume: 386.545K
BUY POINT: $23.35 Volume=408K Target=$27.94 Stop=$21.72
POSITION: SIE LD - Dec. $20c (85 delta, low OI) and/or Stock
http://www.investmenthouse.com/cd/sie.html
MEMBER PORTFOLIO: CUB, EBAY, HOTT; LOW, NOC, PG, QLGC, RCII, SRCL, WM
PG 07/05 Put 90.21 -1.04 0 0 3.4M 4.5M 0
Testing the 10 day MVA with a lower volume doji. The 90 level represents price support along with the 10 day.
CONTINUING/WATCHLIST:
We have made a change to the table. Instead of average volume we have included the target volume.
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
$DJX 08/12 A Wedge 88.72 +1.19 87.72 92.55 508K 0 87.35
Current. Pulled back to the 50 day MVA on the close.
ABK 08/13 Put 57.88 -1.57 57.94 53.15 1.2M 850K 60.25
New.
ACL 08/06 DB hdl 35.2 -0.2 35.81 42.94 99K 900K 33.31
Buy not hit. Still in the handle on very, very low volume.
AMGN 08/14 BO 46.67 +0.25 47.75 52.75 12M 18M 45.15
AMGN 08/03 Test 50 46.67 +0.25 44.75 52.65 12M 20M 45.15
Current. Testing the 10 day MVA on continued low volume.
AMI 07/24 A Wedge 6.51 +0.06 6.77 9.94 57K 173K 6.45
Current. Gapped higher but on low volume. Nothing great, just basing out.
BRKL 08/12 BO 12.7 +0.05 12.11 15.12 508K 1.1M 11.85
Current. Holding up in that flat consolidation over 12.50.
CFCP 07/29 A Wedge 14.28 -0.15 15.55 18.65 1.5K 55K 14.35
Buy not hit. Still working laterally in the trading range from 14 to 15.
COH 08/13 BO 27.3 +0.05 25.55 30 748K 1.4M 24.95
Current. Moving laterally on low volume after the big move. Tested 26 Tuesday, and may do it again before it is ready to resume the move.
COLM 08/13 BO 38.41 -0.39 36.85 42.38 108K 275K 36
Slight pullback on lower, below average volume.
COLM 08/01 Dbl btm 38.41 -0.39 35 39.95 108K 275K 35.45
COLM 07/27 Dbl btm 38.41 -0.39 34.25 39.95 108K 275K 35.45
CUB 07/06 Cup 22 -1.09 0 0 93K 0 0
CVTX 08/17 Test 18 26.67 +0.37 26.75 34.95 286K 1.3M 24.88
Current. Looks ready at the up trendline.
CYBX 08/20 Flat 17.01 -0.24 17.65 21.25 147K 280K 16.41
New.
DOCC 08/08 BO 16.1 +0.5 13.75 16.5 268K 200K 13.95
Current. Another up session on strong, above average volume.
DOCC 07/25 BO 16.1 +0.5 11.9 16.5 268K 200K 13
DROOY 05/21 A Wedge 3.08 +0.12 4.85 7 1.9M 4M 4.30
EBAY 07/02 Test 50 60.41 -1.45 57.95 63 9.9M 600K 58.50
GE 08/17 A Wedge 32.25 -0.64 31.85 36 20M 35M 31.15
Current. Pulled back to the July up trendline on lower, below average volume.
GISX 08/19 A Wedge 20.62 +0.62 21.11 25.25 106K 193K 19.35
Buy not hit. Solid move up to the top of the pattern.
HOTT 07/06 Test 50 17.6 +0.1 0 0 654K 1M 0
IVGN 08/08 BO 36.07 -0.68 36.35 42.25 1.3M 1.5M 33.57
Current. Pulled back to the 10 day MVA on rising volume.
IWM 08/17 A Wedge 79.65 -0.4 79.02 82.65 1.2M 2M 77.25
Current. Pulled back on lower volume. Could present another buy point here for the next move up.
LOW 07/06 Test 50 42 +1 0 0 8.2M 0 0
Still moving well on strong volume on HD numbers.
MLNM 08/14 Test 50 13.64 +0.15 14.35 19 4.7M 7M 13.35
Current. Trying to bounce off the 50 day MVA, but not a lot of volume.
MOR 08/15 A Wedge 11.94 +0.1 11.25 13.48 11K 23K 10.46
Current. Gapped lower but a marvelous recovery to hold the breakout. Volume was significantly lower.
MTXX 07/31 A Wedge 10.45 -0.21 10.5 12 25K 38K 9.94
Current. Testing the breakout on very low, below average volume.
NBTB 08/10 A Wedge 17.71 +0.21 18.35 22 81K 85K 17.07
NOC 07/06 Test 50 114.8 -2.45 0 0 2M 1.7M 0
PG 07/05 Put 90.21 -1.04 0 0 3.4M 4.5M 0
QLGC 08/17 Test 18 36.85 -0.52 36.48 37.5 13M 12M 33.55
Current. Doji right on the 10 day MVA.
RCII 07/06 Cup 57.21 -0.38 0 0 189K 0 0
SBIB 08/08 Dbl btm 14.9 -0.4 15.35 18.35 68K 203K 14.28
Buy alert not issued. Turned back to the 10 day MVA.
SCIO 07/29 cup hdl 26.45 +0.89 32.55 39 1.2M 1.5M 29.95
Testing back up to the 200 day MVA on low volume.
SIE 08/20 A Wedge 22.9 +0.55 23.35 27.94 219K 408K 21.72
Looking for another good entry point.
SSD 08/01 PreSplt 31.75 +0.1 29.02 34 27K 25K 30.35
Current. Small move Tuesday after the strong move higher.
TELK 08/03 Test BO 13.9 -0.02 14.65 17.65 86K 400K 13.05
Current. Still in the lateral move along the 18 day MVA.
USNA 08/10 cup hdl 6.53 +0.1 7.35 10 62K 65K 6.55
Buy not hit. Still in the handle and showing a big volume spike Tuesday.
VALM 07/29 BO 23.15 -0.26 22.38 26.85 106K 120K 21.85
Current. Slight pullback on slightly lower volume.
VFC 08/10 DB hdl 42.6 -0.15 40.65 45 252K 440K 41.55
Current. Working on a nice handle, showing a doji Tuesday on some very low volume. Another session or two and it will be ready for a move over 43 for new positions.
VRTS 08/19 BO 19.07 -0.67 19.76 20 5.9M 8.5M 17.45
Hit the buy point and pulled back. Expecting another move up for another shot at it.
WEDC 08/07 A Wedge 7.44 -0.05 7.63 9.85 73K 105K 7.1
Buy not hit. Hanging in there, but the book to bill might pull it down for another test of the low in the pattern before trying the breakout.
WM 08/03 A Wedge 37.69 -0.35 37.55 42.25 2.9M 5.2M 38.85
Current. Nice lateral consolidation.
WTFC 08/17 cup hdl 34.58 -0.46 34.02 40.32 232K 225K 32.95
Current. Pulled back a bit on lower though still above average volume.
WTW 08/10 BO 48.29 +0.23 44.44 49.75 241K 546K 45.94
Current. Smaller gain on very low volume. Running out of momentum for now, but looks like a test toward 46.
WTW 05/23 Test BO 48.29 +0.23 43.7 50 241K 250K 45.94
Current.
XOMA 08/15 A Wedge 5.85 +0.35 4.92 6.51 1.2M 710K 4.95
Current. Another good move up after the Monday selling.
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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