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stock recommendation, stock investment information
Begin Part 2 of 2
Economic Calendar
9-03-02
Auto sales, August: 6.2M expected, 6.5M prior.
Truck sales, August: 8.0M expected, 8.1M prior.
ISM national, August (10:00): 50.5 actual versus 51.8 expected, 50.5 prior.
9-04-02
Construction spending, July (10:00): 0.0% actual, -0.4% expected, -1.7% prior (revised from -2.2%).
9-05-02
Initial jobless claims (8:30): 403K actual, 395K expected, 411K prior (revised from 403K).
Q2 Productivty, revised (8:30): 1.5% actual, 1.1% expected, 1.1% prior.
ISM services, August (10:00): 50.5 actual, 54.0 expected, 53.1 prior.
Factory orders, July (10:00): 4.7% actual, 4.7% expected, -2.5% prior (revised from -2.4%).
9-06-02
Non-farm payrolls, August (8:30): 30K expected, 6K prior.
Unemployment rate, August (8:30): 5.9% expected, 5.9% prior.
Hourly earnings, August (8:30): 0.3% expected, 0.3% prior.
Average workweek, August (8:30): 34.2 expected, 34.0 prior.
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THE PLAYS:
Thursday plays:
WOR: Wednesday's strong move reversed on lower volume but was able to hold the 10 day MVA on the low.
BEN: Started the fall on rising volume but showed a doji, holding 34.
VWKS: Gapped higher and ran but could not hold the move.
Best Plays:
1) RFMD: A rolling pattern.
2) PPG: Tanking.
3) Continuing: DNA still looks ready to fall further.
NEW PLAYS:
Upside
RFMD (RF Micro Devices--$6.9; +0.61; optionable): semiconductors
http://biz.yahoo.com/p/r/rfmd.html
STATUS: Rolling. INTC's numbers might not have been great, but RFMD was moving ahead of them on strong volume. It looks to once again have found support near 6 and is starting its third roll up from this level in the past two months. We will play the roll up to 9, getting in on a further move higher that clears the 18 day MVA. One thing we can do is either sell the stock outright when it hits 9 or sell the calls on it and play the roll up and down.
Volume: 12.553M Avg Volume: 6.996M
BUY POINT: $7.12 Volume=9.5M Target=$9 Stop=$6.62
POSITION: RFZ KA - Nov. $5c (84 delta) and/or Stock
http://www.investmenthouse.com/ci/rfmd.html
AMMD (American Medical Systems--$22.21; -0.14; optionable): Medical appliances
http://biz.yahoo.com/p/a/ammd.html
STATUS: Cup w/handle. Forming the handle to a 7-month base with good accumulation (5 up weeks on rising volume to just 3 down weeks on rising volume. Money flow is up ahead of the stock as it moves laterally and relative strength is breaking out. Thursday it tapped the 18 day MVA on the low (21.75) and rebounded as volume continued to dry up. Time to be patient and let the stock complete its handle and give the breakout.
Volume: 168.6K Avg Volume: 268.272K
BUY POINT: $23.57 Volume=420K Target=$27 Stop=$21.92
POSITION: TQO LD - Dec. $20c (71 delta) and/or Stock
http://www.investmenthouse.com/cd/ammd.html
Downside:
PPG (PPG Industries--$53.6; -2.13; optionable): Glass products, chemicals
http://biz.yahoo.com/p/p/ppg.html
STATUS: Put. PPG has rolled over after making its move off of the July lows (48). It breached the 50 day MVA, tested it, and Thursday it cut through the 200 day MVA on the highest volume in a month. It looks ready to work its way lower to test those previous lows.
Volume: 1.062M Avg Volume: 996.454K
BUY POINT: $53.49 Volume=1M Target=$49.75 Stop=$55.45
POSITION: PPG WK - Nov. $55p (-56 delta)
http://www.investmenthouse.com/cd/ppg.html
MEMBER PORTFOLIO: CUB, EBAY, HOTT; LOW, NOC, PG, QLGC, RCII, SRCL, WM
EBAY 08/27 Put 54.68 -0.91 56.95 53.25 5M 13M 56.25
Current. Held again at 54.50.
QLGC 08/17 CCall 32.41 -1.39 36.48 0 13M 12M 33.55
Current. Up sharply after hours.
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
ABK 08/27 Put 56.69 +0.74 57.94 53.15 830K 850K 58.05
Current. Held 56 and rallied on stronger volume. Closed off the high after tapping the 10 day MVA; needs to stall here.
ACL 08/06 DB hdl 36.14 -0.1 35.81 42.94 185K 900K 33.31
Buy not issued. Testing back to the 18 day MVA, showing a doji Thursday on low volume. May be ready to make another move and give us some volume this time around.
AMGP 08/28 cup hdl 27.1 -0.03 30.32 34.94 356K 350K 27.75
Buy not hit.
AMI 07/24 A Wedge 6 -0.17 6.77 9.94 24K 173K 6.45
Current. Holding at 6 as it works laterally.
AMMD 09/05 cup hdl 22.21 -0.14 23.57 27 169K 420K 21.92
New.
ANN 09/03 Put 24.55 -0.95 24.96 21.25 652K 1.6M 26.15
Current. Gapped lower and failed a rally attempt.
BEN 09/04 Put 33.95 -0.77 34.35 30.75 1.3M 950K 35.85
Current.
BER 08/28 Put 34.06 -0.05 33.45 31 140K 200K 35
Buy alert not issued. Showing a doji at the 18 day MVA on higher volume. May be ready to roll down.
BRKL 08/12 BO 12.55 +0.05 12.11 15.12 236K 1.1M 11.85
Current. Still in the lateral consolidation on low volume, holding at the 10 day MVA.
CARS 08/30 cup hdl 24.41 -0.19 25.18 28.95 92K 400K 23.42
Buy not hit. Still in the pattern.
CFCP 07/29 A Wedge 13.86 -0.64 15.55 18.65 2.7K 55K 14.35
Buy not hit.
COH 08/22 cup hdl 27.72 -1.18 27.55 33 1.3M 1.4M 25.74
Current. Testing back after the strong move on lower volume.
COH 08/13 BO 27.72 -1.18 25.55 30 1.3M 1.4M 25.74
Current.
COLM 08/13 BO 37.12 -0.25 36.85 42.38 171K 275K 36
CUB 08/24 Test 50 20.1 -0.15 22.25 27.94 47K 205K 20.69
CYBX 08/20 Flat 18.7 +0.14 17.65 21.25 218K 280K 16.41
Buy not issued. Moved up fractionally on lower volume.
DNA 09/03 Put 31.4 -0.45 30.84 27.25 1.5M 3.9M 32.05
Current. Looks ready to roll back down after stalling below the 50 day MVA.
DROOY 05/21 A Wedge 4.09 +0.29 4.85 7 3.1M 4M 4.30
EBAY 08/27 Put 54.68 -0.91 56.95 53.25 5M 13M 56.25
Current. Held again at 54.50.
GE 08/17 A Wedge 28 -0.7 31.85 36 25M 35M 31.15
Current. This is the test for it at 28.
HOTT 07/06 Test 50 18.16 +0.69 0 0 2.8M 1M 0
IVGN 08/08 BO 34.03 -1.55 36.35 42.25 853K 1.5M 33.57
Broke the 50 day MVA on rising volume. Needs to rebound sharply.
JP 08/30 Put 41.07 -0.14 41.72 38.55 475K 700K 42.65
Current. Doji at 41 after holding again at 40.35. May try a move to test 42 again.
LMNX 08/29 BO 7 -0.49 8.12 10.65 68K 250K 7.15
Buy not issued. Back to the 50 day MVA.
LOW 07/06 Test 50 42.28 +0.01 0 0 4.9M 0 0
MANT 08/27 BO 23.41 -0.59 25.04 29.94 298K 150K 23
Buy not issued. Tested lower on rising volume and recovered. Getting volatile.
MEDI 08/31 Put 24.28 -1.17 25.35 22 3.8M 8.2M 26.55
Current. Falling again, but needs to crack below 24.
MME 08/21 cup hdl 34.95 -0.01 37.95 45.55 821K 950K 35.29
Buy not hit. Held the 50 day MVA.
NBTB 08/10 A Wedge 17.46 -0.33 18.35 22 98K 85K 17.07
Buy not hit.
NOC 07/06 Test 50 122.15 +1.47 0 0 1.3M 1.7M 0
PETM 08/26 cup hdl 17.37 -0.28 17.04 20.45 2.3M 2.8M 15.74
Current. Tested back after the big move.
PG 07/05 Put 89.85 +1.29 0 0 5.8M 4.5M 0
PPG 09/05 Put 53.6 -2.13 53.49 49.75 1.1M 1M 55.45
New.
QLGC 08/17 CCall 32.41 -1.39 36.48 0 13M 12M 33.55
Current. Up sharply after hours.
RCII 08/24 Test 18 56.82 +0.1 58.02 66.45 1.4M 701K 53.96
Big volume surge but could not break 58.
RFMD 09/05 Test 18 6.9 +0.61 7.12 9 13M 9.5M 6.62
New.
SBIB 08/08 Dbl btm 14.05 -0.23 15.35 18.35 79K 203K 14.28
SKO 08/27 Put 14.33 -0.77 14.59 12.25 376K 300K 14.75
Current. Fell back, unable to crack the 10 day MVA.
STE 08/21 A Wedge 22.56 -0.14 22.25 26.55 422K 711K 21.25
Buy not issued. Tried to make the move but again could not hold the move.
USNA 08/10 cup hdl 6.4 -0.34 7.35 10 34K 65K 6.55
Buy not issued.
VMI 08/30 BO 24.5 -0.42 22.38 26.85 54K 120K 22.25
Current. Struggling at 25, pulling back a bit on lower, below average volume.
VRTS 08/19 CCall 16.38 -0.26 19.76 20 10M 8.5M 17.45
Current. Moving up off support.
VWKS 08/30 cup hdl 8.17 -0.03 8.45 10.25 1.1M 890K 7.86
Buy not issued. Tried to make the move on some strong volume but could not hold it.
WEDC 08/30 BO 8.35 +0.02 8.55 12 76K 105K 7.95
Buy not issued. Holding the 10 day MVA and rising fractionally.
WEDC 08/07 A Wedge 8.35 +0.02 7.63 9.85 76K 105K 7.72
Current.
WOR 09/04 A Wedge 18.28 -0.71 19.06 22.85 417K 625K 17.65
Buy not hit. Could not hold Wednesday's big gain.
WTW 08/10 BO 45.25 -0.3 44.44 49.75 205K 546K 45.94
Current. Trying to hold on. Needs to hold the line here.
WTW 05/23 Test BO 45.25 -0.3 43.7 50 205K 250K 45.94
Current.
XTO 08/24 cup hdl 19.82 +0.12 21.05 24.25 514K 811K 19.58
Buy not hit.
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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stock recommendation
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