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understanding the stock market, stock recommendation
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THE PLAYS:
Monday plays:
SCSS: Started the move on some strong volume. Looks ready.
ADLR: Still in the handle.
KKD: Gapped lower to the buy but held 32.
PG: Moved lower to test the 50 day MVA and rallied back.
Best Plays:
1) SYK: Solid pattern, solid accumulation.
2) WEN: Stalling at the 10 day MVA on a low volume test.
3) Continuing: AEM showing a tight doji.
NEW PLAYS:
Upside:
SYK (Stryker--$59.26; -0.21; optionable): Medical Instruments
http://biz.yahoo.com/p/s/syk.html
STATUS: Cup w/handle. SYK has made a remarkable reverse of its downtrend, breaking upside in early August. It has finished its 7-month cup and is now working on the handle to that pattern, testing the 10 day MVA (58.74) as it does and showing good accumulation in the base (4 up weeks on rising volume to 2 down weeks on rising volume). It most likely needs a bit more handle formation, but has been showing some excellent price/volume action the past week with some volume spikes the size not seen since July when it hit its low and started the reversal of the downtrend. Looks very solid.
Volume: 597.6K Avg Volume: 701.5K
BUY POINT: $60.55 Volume=1.1M Target=$69.63 Stop=$57.65
POSITION: SYK LK - Dec. $55c and/or Stock
http://www.investmenthouse.com/cd/syk.html
Downside:
CNMD (Conmed--$18.68; -1.46; optionable): Medical appliances
http://biz.yahoo.com/p/c/cnmd.html
STATUS: Put. Crashed through the moving averages Monday on some rising, above average volume. The stock has been under distribution and money flow is tanking ahead of the stock's fall. After such a strong fall it may attempt to bounce back up to test the 10 day MVA (19.83). We will look for a test Tuesday that fails near 20.
Volume: 224.842K Avg Volume: 204.772K
BUY POINT: After a test of 20 or near, 19.45 on the way down. From close: $18.49 Volume=220K Target=$16 Stop=$19.25
POSITION: KQD WD - Nov. $20p (-66 delta)
http://www.investmenthouse.com/cd/cnmd.html
WEN (Wendys International--$32.53; -0.04; optionable): Burgers and fries
http://biz.yahoo.com/p/w/wen.html
STATUS: Put. WEN tanked through the 200 day MVA at 34.50 2 weeks back, tested down to 30, and has struggled back up. Friday it closed at the 10 day MVA, and Monday it tested that level on the high and showed a hanging man doji on low volume. That indicates it is stalling at the 10 day MVA (32.68), a good test that looks ready to fail.
Volume: 771.2K Avg Volume: 1.369M
BUY POINT: $32.45 Volume=1.6M Target=$30 Stop=$33.33
POSITION: WEN XG - Dec. $35p (-57 delta)
http://www.investmenthouse.com/cd/wen.html
MEMBER PORTFOLIO: CUB, EBAY, HOTT; LOW, NOC, PG, QLGC, RCII, SRCL, WM
These are the stocks that our subscribers vote to put in a 'portfolio' to track their progress and comment upon when they reach buy points, sell points, or levels to write some covered calls on. They are not covered every report, but when something interesting is developing we take note.
EBAY 08/27 Put 55.99 -0.97 56.95 53.25 7M 13M 56.25
Took the money off the table.
CONTINUING/WATCHLIST: These are stocks that are current plays (the buy point hit), waiting for the buy point to be hit (buy not hit), or buy not made for various reasons (buy alert not issued). The date references the date the play first appeared on the report. Pivot is the buy point.
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
ADLR 09/21 cup hdl 14.1 -0.31 14.74 17.74 76K 161K 13.65
Buy not hit. Holding in the pattern.
AEM 09/19 cup hdl 16.36 -0.14 17.05 20.55 708K 1.2M 15.75
Buy not hit. Very nice pattern with volume spike.
ALLY 09/07 cup hdl 16.36 -0.14 15.86 18.25 442K 675K 14.55
Current. Still testing the 50 day MVA. Expecting a bounce.
AMGP 08/28 cup hdl 30.17 +0.02 30.32 34.94 135K 350K 28.65
Current. Testing the 10 day MVA on the low with a hammer doji on low volume.
AMMD 09/05 cup hdl 21.1 -0.55 23.57 27 337K 420K 21.92
Buy not hit. Holding at the 200 day MVA on rising, above average volume.
ANN 09/03 Put 24.46 -0.86 24.96 21.25 604K 1.6M 26.45
Current. Tanked back down, but did not move below key 24 level.
BEN 09/04 Put 31.71 -0.44 34.35 30.75 815K 950K 34
Took the gain.
C 09/11 Put 27.57 +0.74 29.96 26 27M 20M 28.75
Took the gain.
CARS 08/30 cup hdl 24.34 -0.48 25.18 28.95 119K 400K 23.42
Buy not issued. Holding in the flat handle on low volume.
CCCG 09/12 Cup 12.91 -0.1 13.45 16.15 32K 51K 12.41
Buy not issued. Tried to make the move but turned over.
CNMD 09/23 Put 18.68 -1.46 18.49 16 225K 220K 19.25
New.
COH 08/22 cup hdl 27.5 -0.64 27.55 33 784K 1.4M 28
Buy not issued. Hammer doji on rising volume.
COH 08/13 BO 27.5 -0.64 25.55 30 784K 1.4M 28
Current.
CRAY 09/17 cup hdl 3.78 +0.11 4.22 5.75 268K 575K 3.85
Buy not hit. Not doing it.
CUB 09/18 Put 18.65 -0.57 18.98 16 71K 85K 21
Current. Falling again but has to get below 18.
EBAY 08/27 Put 55.99 -0.97 56.95 53.25 7M 13M 56.25
Took the money off the table.
FTN 09/14 Put 34.84 +0.14 36.59 32.85 361K 500K 36.35
Current. Weak move up to test 35 resistance.
GLG 09/18 cup hdl 9.9 -0.2 10.59 12.75 604K 1.3M 9.45
Buy not hit.
HOTT 07/06 Test 50 18.95 -0.57 0 0 426K 1M 0
JOSB 09/10 cup hdl 18.86 -0.39 20.76 24 70K 158K 19.31
Exited.
JP 08/30 Put 39.89 -0.17 41.72 38.55 354K 700K 41.35
Current. Doji that manged to recover to 40.
KKD 09/21 Put 32.2 -0.3 32.4 29.65 281K 875K 33.75
Current. Entered after the brief move up off the gap lower. Needs to get below 32.
KMG 09/12 Put 41.46 +0.1 43.74 40 1.2M 700K 43.45
Current. Held flat again, but below the August low.
LOW 07/06 Test 50 41.3 -1.09 0 0 5.9M 0 0
MCK 09/07 Put 28.99 -0.45 31.65 28 1M 1.9M 31.55
Took the gain.
NCC 09/17 Put 27.94 -0.36 28.96 25.95 1.4M 14M 29.75
Current. Gapped lower and closed just below 28.
NOC 07/06 Test 50 127.19 +2.65 0 0 1.2M 1.7M 0
PEP 09/11 Put 37.2 -0.3 39.35 36 5.2M 7M 39.05
Current. Gapped lower but then closed right at resistance.
PETM 08/26 cup hdl 18.2 -0.1 17.04 20.45 1.8M 2.8M 17.25
Current. Tanked and then recovered to close above the 10 day MVA.
PG 09/21 Test 18 90.74 -0.35 91.55 103 3.5M 5.5M 89.45
Buy not hit. Held the 50 day MVA. Did well in an off day.
QLGC 08/17 CCall 27.36 -1.18 36.48 0 14M 12M 33.55
Current.
RCII 08/24 Test 18 51.62 -0.34 58.02 66.45 647K 701K 53.96
RFMD 09/05 Test 18 5.44 -0.43 6.08 9 5M 9.5M 5.65
Buy not hit.
SCSS 09/21 cup hdl 5.85 +0.3 6.02 7.25 483K 200K 5.61
Buy not hit. Looking very good.
SKO 08/27 Put 13.23 -1.57 14.59 12.25 681K 300K 14.75
Current. Tanked on some massive volume.
SY 09/19 Put 11.75 -0.25 12.75 10 414K 680K 13.55
Falling further.
SYK 09/23 cup hdl 59.26 -0.21 60.55 69.63 598K 1.1M 57.65
New.
TT 09/19 cup hdl 13.59 +0.02 13.71 16.55 7.6K 50K 12.71
Buy not issued. Not making the move yet as it is wedging higher. That is not the best handle action.
UPC 09/17 Put 27.4 -0.19 28.32 26 519K 615K 28.95
Current. Tested down to 27 on the low and recovered with a hammer doji. May try to bounce higher.
VMI 08/30 BO 22.83 +0.66 22.38 26.85 30K 120K 23
Current. Tested the 50 day MVA and bounced but not a lot of volume.
VRTS 08/19 CCall 13.47 -1.01 19.76 20 12M 8.5M 17.45
Curent. Software struggled. Will see if it can bounce with the market.
VWKS 08/30 cup hdl 7.8 -0.25 8.45 10.25 111K 890K 7.86
Buy not issued. Still in the handle.
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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understanding the stock market
stock recommendation
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