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us stock market, trade stock
Beign Part 2 of 2
TEAM TRADES
DJX: After the tombstone doji's Wednesday, we were ready to move in on the indexes as they turned lower. The selling started early, and we were willing to take some downside positions in the first push lower even though there is usually a bounce after that first round. By catching it early enough we felt we could still be profitable even on the first bounce. We looked at the Dow and it hit our buy point early in the session (about 12 minutes into the day). We issued the alert and went looking at the options. The October 89 puts were 5.20 by 5.50. The spread was jumping aroung between 30 and 40 cents, so we dropped in an order 10 cents ahead of the ask as the market was dropping fast. Unlike the other day when we got a trade below our limit order, this one was filled at the order; the market was moving fast so we were able to get the fill when otherwise we might not have got it without a market order (something we don't like to do because you are totally at the mercy of the market maker, though with index options the liquidity makes that less likely). The index continued lower and the options closed at 6.10 by 6.50. A good start to the play.
THE PLAYS:
NEW PLAYS
Downside:
ROOM (Hotel Reservations--$46.28; -1.73; optionable): Online lodging reservations
http://biz.yahoo.com/p/r/room.html
STATUS: Put. ROOM raced up to the 200 day MVA (48.59) Wednesday, broke it, and then reversed on strong volume. Thursday it started the fall on continued very strong volume. It tested 45 on the low and rebounded, holding the up trendline from July. We don't think that is going to hold, but we want to let it break below that level and support at 45 before we jump in. There is plenty of downside room after that breach.
Volume: 1.434M Avg Volume: 780.136K
BUY POINT: $44.96 Volume=1M Target=$40.35 Stop=$46.15
POSITION: URD VJ - Oct. $50p (-59 delta)
http://www.investmenthouse.com/ct/room.html
Upside:
CENT (Central Garden & Pet--$15.99; +1.12; optionable): Wholesale industrial equipment
http://biz.yahoo.com/p/c/cent.html
STATUS: CENT is coming up off of the bottom of its base, building the right side of the pattern (a cup) on some impressive volume. Tremendous volume and money flow is shooting up ahead of the stock. Right now we are looking at playing this move up to the former high just over 18, giving us about a 12% return on the stock. At that point it will most likely form a handle, and then we can play that when it occurs.
Volume: 409.486K Avg Volume: 140.545K
BUY POINT: $16.15 Volume=300K Target=$18.15 Stop=$14.94
POSITION: EQH KV - Nov. $12.50c (82 delta, low OI) and/or Stock
http://www.investmenthouse.com/ct/cent.html
WATCHLIST/ CONTINUING:
NOTE: We have placed target volume in place of average volume so you can gauge how the stock is performing relative to our target.
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
$DJX 09/09 Put 83.79 -2.02 85.24 82.25 251K 0 85.75
Current. Hit the buy on a solid move in volume. 82.50 is first support and our initial target range.
$OEX 09/09 Put 443.23 -12.18 449.55 435 6.7M 0 454
Current. Nice drop.
ABK 08/27 Put 57.06 -1.08 57.94 53.15 542K 850K 58.05
Current. Falling again and on a nice boost in volume as it broke the 18 day MVA.
ACS 08/30 Put 46.27 -0.83 43.96 40.15 639K 1.2M 44.04
AIG 08/28 Put 59.19 -1.85 60 55.35 5.1M 6.5M 61.55
AMGN 09/04 Put 45.08 -0.57 43.94 40 8.9M 15M 45.25
APOL 08/15 A Wedge 41.81 -0.97 40.65 48 1.8M 3.3M 39.94
AXP 09/03 Put 33.84 -0.95 33.18 29.25 3.6M 8.5M 34.94
AXP 06/19 Put 33.84 -0.95 37.75 34.05 3.6M 500K 41
BMS 08/21 BO 52.77 -1.03 52.02 56.94 195K 450K 50.85
BRCD 07/17 BO 12.78 -0.78 19.8 25 12M 17M 19
BRCM 08/17 Test 50 15.08 -0.98 19.2 19.8 5.5M 9M 17.25
CBH 08/19 cup hdl 44.63 -2.18 47.25 54.33 987K 902K 45.15
CENT 09/12 BO 15.99 +1.12 16.15 18.15 409K 300K 14.94
CLE 09/07 DB hdl 22.18 -0.57 22.41 25.94 206K 365K 20.84
CTSH 09/05 A Wedge 63.11 -0.57 60.35 67.94 390K 348K 56.75
CVS 09/09 Put 29.58 +0.08 29.24 26 2M 3.3M 30.65
EME 09/07 Put 51.49 -0.56 52.35 46.65 103K 155K 48.69
EME 09/03 Put 51.49 -0.56 51.04 46.65 103K 155K 53
FAF 09/09 cup hdl 21.09 -0.27 22.03 25.35 229K 511K 20.44
GDT 08/22 A Wedge 35.6 -0.91 36.45 40.35 2.1M 3.3M 34.55
HB 09/05 cup hdl 58.13 -1.59 59.95 64.55 139K 267K 55.75
HON 09/11 Put 28.34 -0.18 28.42 25 6.7M 3.5M 30.45
IVGN 08/03 BO 34.99 -1.38 36.1 39.88 639K 1.5M 33.57
JPM 09/11 Put 22.01 -0.97 22.85 19.85 12M 12M 24.55
KLAC 09/11 Put 31.55 -1.89 33.05 30 11M 15M 34.85
MATK 08/27 BO 17.18 -1.12 18.25 21.75 138K 433K 16.97
MEDI 08/31 Put 23.34 -1.03 25.35 22 4.5M 8.2M 26.55
MIK 08/28 cup hdl 47.3 -1.29 43.25 51 880K 800K 44
MNTR 09/09 Put 29.86 -0.38 30.88 28 244K 321K 33.65
MOLX 08/30 Put 26.49 -2.17 29.35 25.55 5.9M 2M 30
MSFT 09/07 Put 47.15 -1.43 47.41 44.15 32M 45M 49.25
MSTR 08/31 Test 50 10.55 -0.51 11.55 14 549K 255K 10.74
MTG 09/10 Put 54.93 -2.07 57.55 53.75 2.1M 950K 59.35
NX 08/30 BO 39 -0.54 40.61 46.65 38K 145K 37.77
PDX 08/10 Test 50 34.14 +0.24 30.55 34.55 144K 425K 31.21
PEG 09/10 Put 32.3 -0.82 33.25 30 1.4M 2M 35
PEP 09/11 Put 39.37 -0.12 39.35 36 4.5M 7M 40.78
PFE 09/07 Put 29.95 -0.9 30.55 27 18M 25M 32.15
PIXR 08/30 Test BO 46.48 -2.99 50.25 56.55 1.2M 580K 48.15
PPP 08/26 cup hdl 32.51 -0.72 34.34 41 208K 336K 31.94
PRE 09/07 Put 46.81 +1.11 45.25 40 402K 621K 42.08
PRE 09/03 Put 46.81 +1.11 43.35 40 402K 621K 44.55
PSS 09/11 Test BO 56.09 -0.33 58.08 64 228K 500K 54.01
RESP 09/07 cup hdl 32.62 -1 35.31 40.55 113K 294K 32.84
RINO 08/28 cup hdl 13.99 -0.79 13.8 16.75 226K 300K 12.45
ROOM 09/12 Put 46.28 -1.73 44.96 40.35 1.4M 1M 46.15
SOV 09/07 cup hdl 13.8 -0.67 15.72 18 1.9M 2M 14.62
TEVA 08/12 DB hdl 67.9 +0.7 68.25 77.85 889K 1.2M 66.50
TIER 09/04 cup hdl 19.65 -0.19 19.45 22.35 145K 239K 18.09
TTWO 08/24 cup hdl 26.73 +0.1 26.61 31.94 797K 1.5M 24.75
TTWO 08/17 cup hdl 26.73 +0.1 24.75 29.85 797K 1.5M 24.75
WLP 08/29 Put 76.66 -0.33 73.65 68.54 835K 1.4M 74.15
WSFS 08/10 Rv H&S 27 +0.92 26.25 30.25 60K 65K 27.75
Good Investing!
Jon L. Johnson and your Technical Traders Report 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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