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Begin Part 2 of 2
CONTINUING PLAYS:
Upside:
AVP (Avon Products--$51.35; -0.65; optionable): Cosmetics and personal products
http://biz.yahoo.com/p/a/avp.html
STATUS: Double bottom w/handle. Still holding in the handle of the 7-month base, Friday testing down to the 18 day MVA on the low (51.15), just a hair above the 200 day MVA as wel. Money flow continues its hard charge ahead of the price, and we are sitting tight awaiting the breakout.
Volume: 361.9K Avg Volume: 1.298M
BUY POINT: $52.94 Volume=1.8M Target=$61 Stop=$50.25
POSITION: AVP DJ - April. $50c (66 delta) and/or Stock
http://www.investmenthouse.com/ct/avp.html
Play Date: 10/14/2002
ELAB (Eon Labs--$23.76; -0.03; no options): Drugs
http://biz.yahoo.com/p/e/elab.html
STATUS: Ascending wedge. Continues to tighten up in the ascending wedge, holding above the 18 day MVA on the low (23.43) as it continues to build pressure for the breakout.
Volume: 57.189K Avg Volume: 254.863K
BUY POINT: $24.55 (orig. $23.05) Volume=225K Target=$27.65 Stop=$22.35
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/elab.html
Play Date: 11/22/2002
IMN (Imation--$41.16; -1.09; optionable): PC disks and the like
http://biz.yahoo.com/p/i/imn.html
STATUS: Ascending wedge. Bouncing up and down Wednesday and Friday, IMN continues its month-long lateral move. An early leader that we are watching for another breakout as a signal to be ready for the rest of the market to do the same. These early leaders make their moves, consolidate as the rest of the market catches up, and then take off again ahead of everyone else. Thus as the rest of the market rests this week we could see IMN start its next leg higher.
Volume: 127.2K Avg Volume: 484.909K
BUY POINT: $42.41 Volume=700K Target=$48 Stop=$39.44
POSITION: IMN DG - April $35c (68 delta) and/or Stock
http://www.investmenthouse.com/ct/imn.html
Play Date: 11/30/2002
ISSX (Internet Security System--$25.03; -0.85; optionable): Internet security
http://biz.yahoo.com/p/i/issx.html
STATUS: New buy point. Testing. ISSX is another stock that moved up sharply October to November, and now it looks as if it is working on a bit of a lateral move just below some resistance at 26. The rise has been rather ballistic and ISSX needs a bit of a rest, but after a couple of sessions it may be ready to go again as it was one of those early leaders.
Volume: 581.028K Avg Volume: 2.063M
BUY POINT: $25.05 Volume=2.5M Target=$31 Stop=$23.3
POSITION: ISU DX - April $22.50c (72 delta) and/or Stock
http://www.investmenthouse.com/ct/issx.html
Play Date: 11/13/2002
JOSB (Joseph A. Banks--$25.3; -0.19; no options): Apparel
http://biz.yahoo.com/p/j/josb.html
STATUS: Cup w/handle/ascending wedge combo. This may be a final shakeout as JOSB tapped the 18 day MVA on the Friday low (24.96) and rallied back up to show a tight, hammer doji on the close. Volume in the last two weeks has dried up to very low levels as JOSB continues to move through the nice ascending wedge. Getting ready.
Volume: 31.08K Avg Volume: 158.909K
BUY POINT: New: 26.25 (orig. $25.51) Volume=250K Target=$30.45 Stop=$23.35
POSITION: Stock (no option chain)
http://www.investmenthouse.com/ct/josb.html
Play Date: 11/23/2002
PECS (PEC Solutions--$37.09; -0.03; optionable): Business management services
http://biz.yahoo.com/p/p/pecs.html
STATUS: Testing the breakout. Monday PECS provided an explosive breakout from its 11-month cup w/handle pattern and then spent the rest of the week moving laterally in a tight range testing the move on lower and lower volume. It is holding up very well above the breakout point at 36.32, tapping at that level on the session lows. We are looking for it to hold and continue the move from this level. The next buy point is a move over 38 on strong, above average volume.
Volume: 193.07K Avg Volume: 380K
BUY POINT: New positons: 38.05 (orig. $36.32) Volume=650K Target=$43.65 Stop=$33.78
POSITION: PQD DF - April $30c (70 delta, low OI) and/or Stock
http://www.investmenthouse.com/ct/pecs.html
Play Date: 11/23/2002
PVSW (Pervasive Software--$4.08; -0.02; no options): Application software
http://biz.yahoo.com/p/p/pvsw.html
STATUS: Cup w/handle. Looked to be starting the breakout Monday from the 11-month base. It then backed off the rest of the week but held support on the lows at 4, bouncing back up on the close. Accumulation is also solid at 8 up weeks on rising volume to 5 down weeks on lower volume. Need to see the breakout on some big volume.
Volume: 2.3K Avg Volume: 65.409K
BUY POINT: $4.27 Volume=125K Target=$5.35 Stop=$3.97
POSITION: Stock (no option chain)
http://www.investmenthouse.com/ct/pvsw.html
Play Date: 11/26/2002
RMHT (RMH Teleservices--$11.55; -0.18; no options): Management services
http://biz.yahoo.com/p/r/rmht.html
STATUS: Testing the 200 day MVA breakout. RMHT continues to move laterally in the very tight range, holding above the 10 day MVA with another doji on continued below average volume. The pattern is solid so we are just waiting for the next move up off the 200 day MVA. Moves out of these flat bases can be dramatic.
Volume: 15K Avg Volume: 63.545K
BUY POINT: $12.45 Volume=98K Target=$15.55 Stop=$11.35
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/rmht.html
Play Date: 11/30/2002
SYMC (Symantec--$43.73; -0.28; optionable): Internet software
http://biz.yahoo.com/p/s/symc.html
STATUS: Testing the breakout. SYMC is making its test of the breakout, pulling back to the 10 day MVA and holding that level on Wednesday and Friday. After breakouts stocks tend to run 4 to 5 times up off of the short term moving averages. This is the second bounce following the breakout, a good entry point.
Volume: 717.559K Avg Volume: 4.192M
BUY POINT: $44.51 Volume=4.5M Target=$52 Stop=$41.98
POSITION: SYQ DH - April $40c (72 delta) and/or Stock
http://www.investmenthouse.com/ct/symc.html
Play Date: 11/26/2002
TMCS (Ticketmaster--$25.79; -0.5; optionable): Tickets online
http://biz.yahoo.com/p/t/tmcs.html
STATUS: Cup w/handle. TMCS tried to make the breakout from its 8-month base in 7 sessions back, but it did not generate enough volume to hold. It has now edged back to the 10 day MVA (25.75) over the pat four sessions, holding solid above that level as volume dries up. Money flow is huge and accumulation is solid. We are patiently waiting for a breakout on some big volume. Internet stocks that have survived are showing a lot of life in this market; with internet sales up 40% the first 25 days of November versus last year, there is growth potential for those survivors. TMCS looks to be one of those.
Volume: 183.894K Avg Volume: 842.272K
BUY POINT: $26.45 Volume=1.2M Target=$31.75 Stop=$24.61
POSITION: QMF DX - April $22.50c (73 delta, low OI) and/or Stock
http://www.investmenthouse.com/ct/tmcs.html
Play Date: 11/30/2002
YHOO (Yahoo!--$18.27; -0.12; optionable): Internet information
http://biz.yahoo.com/p/y/yhoo.html
STATUS: Testing the breakout. Moving laterally the past week over 18 and the 10 day MVA (17.83) as volume dries up. That is a good very nice consolidation of the earlier breakout as money flow remains strong. The survivors in the internet are the ones that will reap the rewards, and YHOO is showing it is just that. Very nice consolidation, and looking for new positions with this new buy point.
Volume: 4.342M Avg Volume: 13.692M
BUY POINT: $18.91 Volume=20M Target=$22.75 Stop=$17.59
POSITION: YHZ DC - April $15c (70 delta) and/or Stock
http://www.investmenthouse.com/ct/yhoo.html
Play Date: 11/20/2002
ZBRA (Zebra Technologies--$64.22; -0.22; optionable): PC peripherals
http://biz.yahoo.com/p/z/zbra.html
STATUS: Testing the breakout. Holding the breakout quite well with its second straight doji on the 10 day MVA. Wednesday the stock showed strong volume as it tested the 18 day MVA on the low and snapped back sharply. This looks like a good test of the breakout in the process. Money flow is excellent, still moving up even as the stocks tests back.
Volume: 107.547K Avg Volume: 311.5K
BUY POINT: $66.35 Volume=475K Target=$74.75 Stop=$62
POSITION: ZBQ EM - May $65c (57 delta, low OI) and/or Stock
http://www.investmenthouse.com/ct/zbra.html
WATCHLIST/ CONTINUING:
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
ACTI 11/23 Test BO 9.2 +0.01 9.28 11.88 160K 165K 8.56
Buy not issued. Moving toward the breakout and we are going to be ready.
ADI 11/06 Test BO 30.69 -0.51 26.5 32.45 1.2M 5.8M 28.74
Current. Gapped over the 200 day Friday but could not hold the move as chips had some profit taking.
APH 11/16 Rv H&S 44.35 +0.65 42.69 49.94 40K 300K 42
Holding at the 10 day MVA.
ARTI 11/02 Cup 20.5 0 14.85 20 116K 150K 17.65
Current. Struggling a bit at 21 as volume has backed off. May need to come back and test toward 19.
AVID 10/30 cup hdl 19.62 +0.37 15.65 20.45 219K 177K 17.35
Current. Starting the move up out of the lateral consolidation above the 10 day MVA Wednesday and Friday but needs more volume.
AVP 11/25 cup hdl 51.35 -0.65 52.94 61 362K 1.8M 50.25
Buy not hit.
BBOX 11/14 cup hdl 49.95 -0.62 48.45 56 301K 550K 46.65
Current. Continuing to march up the 10 day MVA though on mostly below average volume.
BER 11/13 cup hdl 39.5 +0.52 38.4 45 80K 306K 37.65
Current. Up off the 10 day MVA on Friday. Not bad.
BOBJ 11/25 BO 19.99 +0.23 20.18 24.94 407K 1.8M 18.77
Buy not issued. Gapped higher but sold all the rest of the session. Did not like the action so held off.
BOH 10/26 cup hdl 30.48 -0.08 29.94 36 83K 427K 29.25
Current. Continues to consolidate more or less laterally over the 18 day MVA.
BRCM 08/17 CCall 19.55 -0.43 19.2 19.8 4.6M 9M 17.25
Current.
BRL 10/29 Put 66.03 -0.09 57.35 54 195K 750K 59
Runaway train.
CDWC 10/31 cup hdl 50.97 -0.77 53.81 62 609K 2.8M 51.74
Current. Ran into trouble in the recovery at the 18 day @ 52. Will give it early this week to hold at 50 and make another run at recovering over 52.
CLE 10/26 Test BO 25.96 -0.34 25.05 30 203K 505K 24
Current. Blasted higher Wednesday then held steady Friday.
CLE 09/07 DB hdl 25.96 -0.34 22.41 25.94 203K 365K 24.05
Current.
COLM 11/13 DB hdl 44.15 -0.94 41.96 48.45 92K 389K 41.94
Current. Solid move Wednesday, giving some back Friday.
CREE 11/07 Test BO 23.67 -0.55 19.15 24.45 821K 3.9M 21.15
Current. Continuing the move up the 10 day MVA though may run into some testing toward 22.50 this week.
CVD 11/05 Test BO 22.42 -0.36 23.65 28 138K 581K 22.25
Current. Not giving us the run we wanted after the promising move two Friday's back. This is where it has to hold.
DMRC 11/30 cup hdl 15.77 -0.18 17.01 20.45 33K 100K 15.65
New.
ELAB 10/14 BO 23.76 -0.03 23.05 27.65 57K 225K 22.55
Current. Tightening up in the pattern.
ESPD 10/16 cup hdl 15.05 -0.6 12.75 15.3 142K 265K 13.96
Current. Continues to work up the 10 day MVA, but having some trouble at 16.
EXBD 11/11 cup hdl 33 -0.59 34.65 40 60K 528K 32.22
Buy not hit. Still working through the handle.
FFIV 11/23 cup hdl 14.02 +0.48 14.54 17.97 279K 750K 13.45
Buy not issued. Showing the volume it needs off the 10 day MVA. We will see if it comes in this week.
FRGO 11/30 Test BO 11.77 +0.19 12.49 15 107K 270K 11.62
New.
GILD 11/06 BO 39.42 +0.45 38.38 46 1.2M 5.8M 36.65
Current. Good recovery and bounce up off the 18 day MVA.
GRMN 11/06 cup hdl 23.8 -0.24 22.34 26 80K 198K 22.82
Current. Wild day Wednesday but recovered, continuing to work for a move over 24.
HAR 11/21 Test 18 62.4 -0.34 61.6 70 75K 488K 59.85
Current. Still moving up the short term MVA.
HD 09/16 Test 50 26.4 +0.31 34.55 38 7.2M 10M 32.13
HYSL 11/06 Test BO 27.87 -0.57 28.11 33.75 120K 636K 27.15
Current. Still holding at the 18 day MVA on lower volume. Needs to give a bounce here and clear 30.
IBM 11/11 Test 50 86.92 -0.78 78.45 88 3M 12M 82.24
Current. Took some gain last week on the options but it is still moving up the short term MVA. A test of 85 is next.
ICST 11/30 cup hdl 23.28 -0.64 25.05 29.94 349K 3M 23.3
New.
IMN 11/22 A Wedge 41.16 -1.09 42.41 48 127K 700K 39.44
Current.
IMN 11/12 Test BO 41.16 -1.09 41.78 48 127K 700K 39.85
Current.
ISIL 11/02 Test 50 17.28 -0.45 18 22 1M 3.5M 16.85
Current. Holding at the 50 day MVA. Needs to do something early this week or exit.
ISSX 11/30 Test BO 25.03 -0.85 25.05 31 581K 2.5M 23.3
New buy point.
ISSX 11/04 BO 25.03 -0.85 22.15 26.5 581K 3M 22.35
Current.
JOSB 11/13 Test BO 25.3 -0.19 25.51 30.45 31K 250K 23.35
Buy not issued. Looking for that breakout.
KLAC 11/05 Test BO 44.17 -1.63 37.86 45 6.3M 20M 39.88
Current. Hit the 200 day MVA and turned back down Friday.
KLAC 10/19 BO 44.17 -1.63 33.05 45 6.3M 1.9M 39.88
Current.
LBIX 10/14 cup hdl 3.11 -0.16 3.22 4.35 78K 145K 3.32
Current. Disappointing move. Decided to hold it Friday given the low volume and see if it can recover.
LGTO 11/04 BO 5.4 -0.15 4.65 7.25 581K 1.2M 5.05
Current. Back to the 200 day MVA on lower volume. Needs to hold here.
LUK 11/16 cup hdl 39.55 +0.09 38.51 44.45 20K 125K 37.97
Current. Edging higher.
MBT 11/30 cup hdl 38.95 +0.15 40.06 47.96 90K 225K 37.26
New.
MSFT 11/13 Test BO 57.68 -0.4 56.15 62.55 14M 50M 55.74
Current. Most of the states dropped their suits leaving just one to pursue the case. Good news for MSFT and we look for it to move higher after another test of 57 to 56.
MSFT 10/16 Test BO 57.68 -0.4 52.35 59 14M 50M 55.74
Current.
MSN 11/23 cup hdl 4.62 +0.07 4.15 5.68 129K 150K 3.48
Current. Showed a doji Friday after the big breakout. Still in good shape.
MTB 11/18 Put 80.68 -1.07 78.45 74.22 83K 500K 81.45
MXIM 11/09 Test BO 42.05 -1.33 34.25 45 3.7M 12M 39.94
Current. Working sideways over the 200 day MVA.
NBIX 10/08 Rv H&S 46.08 -0.56 44.85 51.75 80K 1.1M 44.94
Current. Working in a trading range from 45 to 47.50. Needs to hold the bottom.
NWRE 11/09 BO 20.19 +0.12 19 22.55 330K 900K 17.78
Current. Testing the big breakout, moving laterally.
PCLE 10/17 BO 14.13 +0.13 11.51 13.82 448K 800K 12.94
Current. Took the options off the table but PCLE is looking goog if it can hold that breakout over 14.50 on the next try.
PECS 11/23 cup hdl 37.09 -0.03 36.32 43.65 193K 650K 33.78
Current. Moving laterally after the breakout move. Solid thus far.
PIXR 11/20 BO 57.74 -0.26 57.85 66 101K 775K 55.35
Looking for it to build higher this week after some early week market softness.
POSS 11/18 Test BO 16.18 +0.34 15.01 18.45 49K 127K 14.65
Current. Moving back up off the 10 day MVA.
PPDI 10/19 Test BO 29.95 +0.28 30 35 170K 1.4M 28.35
Current. Holding at the 10 day MVA.
PVSW 11/23 Cup 4.08 -0.02 4.27 5.35 2.3K 125K 3.97
New.
QCOM 11/07 Test BO 41.22 -0.49 34.78 42 4.3M 18M 38.14
Current. Running into some resistance at 42.
QLGC 11/30 A Wedge 43.44 -0.37 45.04 51.45 3.8M 20M 41.89
New by point.
QLGC 11/07 Test BO 43.44 -0.37 41.4 50 3.8M 25M 39.88
Current.
RINO 10/24 Test BO 19.4 +1.5 17.35 20.75 364K 225K 16.95
Current. Complete turn around as it now races to a new high.
RINO 08/28 cup hdl 19.4 +1.5 13.8 20 364K 300K 16.95
Current.
RMHT 11/26 Test BO 11.55 -0.18 12.45 15.55 15K 98K 11.35
New.
ROOM 11/07 Cup 72.82 -0.18 65.25 75 239K 1.2M 67.25
Current. Took some gain Friday as the stock had run far and was showing a doji just under the target, hitting 74.22 on the high.
RYAAY 11/18 Test BO 43.81 -0.24 43.55 50.35 70K 425K 43.94
SFAM 11/02 BO 6.59 -0.14 6.09 9 128K 400K 5.88
Current. Still working higher up the 10 day MVA, but it is slow going.
SNDK 10/30 cup hdl 27.75 -0.24 21.76 28 2.3M 3M 24.45
Current. Ran up to 29 and then reversed on the session. Will most likely test toward 26 once again.
SRNA 11/30 cup hdl 18.17 -0.39 19.85 24.55 99K 710K 18.46
New.
STI 11/18 Put 58.66 -1.01 59.49 56 506K 1.5M 60.85
Looks as if it is rolling over here.
SYMC 11/30 Test 18 43.73 -0.28 44.51 52 718K 4.5M 41.98
New buy point.
SYMC 10/21 Cup 43.73 -0.28 39.35 48 718K 5.5M 42.75
Current.
TMCS 11/26 Test BO 25.79 -0.5 26.45 31.75 184K 1.2M 24.61
Buy not issued.
TSCO 10/16 Test BO 44.47 -0.72 39.05 46.85 89K 235K 42.05
Current. Continues to bounce higher.
UNTD 11/30 Test BO 15.93 +0.07 16.25 19.65 377K 1M 15.11
New.
UTHR 11/12 DB hdl 17.27 -0.07 17.65 21.45 35K 295K 16.21
Current. Still holding well but looking for a definitive move here.
VIP 11/09 Test BO 35.02 -0.48 30.06 35 129K 285K 32.55
Current. Working laterally the past three sessions after the huge breakout. We have taken some gain but are still looking for more.
VSEA 11/16 Rv H&S 31.1 -0.91 28.03 33 275K 1.4M 27.94
Current. Up to the 200 day MVA on the high and turned back on some chip profit taking.
VZ 11/23 cup hdl 41.88 +0.31 41 45 3.8M 11M 39.35
Current. Another move up Friday, but no real volume. VZ still looks good.
VZ 10/10 Test 50 41.88 +0.31 34.75 42 3.8M 10M 39.35
Current.
WEDC 10/19 BO 9.72 -0.27 9.45 12 31K 142K 9.35
Current. Ran into trouble again at 10 where it has found trouble the base month.
WFR 11/14 cup hdl 9.12 -0.03 8.45 11 90K 325K 8.12
Current. Continues to rise over the 10 day MVA.
YHOO 11/30 Test BO 18.27 -0.12 18.91 22.75 4.3M 20M 17.59
New buy point. Nice lateral move along 18 on below average volume. Very nice consolidation, something we call a flying plateau.
YHOO 11/04 BO 18.27 -0.12 17.08 20.55 4.3M 20M 17.78
Current.
ZBRA 11/20 BO 64.22 -0.22 66.35 74.75 108K 475K 62
Current. Good test of the breakout underway.
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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