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us stock market, trade stock
Begin Part 2 of 2
THE PLAYS:
Good moves: BEST; BSX; FAST; GTK; PIXR; PNRA; PSUN; TSCO; WFMI; WFR
In each report we prepare full write-ups for those that look ready to move. If the move has been made already we discuss the play in the summary table. The purpose is to focus on the next good movers.
NEW PLAYS: Splitting stocks are often market leaders and thus we do not just focus on them at points where they are expected to announce or before they actually split. They provide many opportunities to invest in them and this section is where we can look at some former split stocks and other stocks that are in good position to make us money. In addition, there are emerging trends in the recent move off of the double bottom, and we want to capture those stocks emerging from the obscurity as well.
RARE (Rare Hospitality--$27.51; +0.98; optionable): Restaurants
http://biz.yahoo.com/p/r/rare.html
STATUS: Ascending wedge. Moving through a 7-week wedge that is riding up the 50 day MVA on the lows (26.40) with a steady top at 28. This pattern follows a 5-month double bottom. Accumulation is solid in the base at 4 accumulation weeks (up weeks on rising volume) to 2 distribution weeks (down weeks on rising volume). A solid price session Monday up off of the 50 day MVA. Now it needs volume and the breakout of the pattern.
Volume: 91.535K Avg Volume: 217.181K
BUY POINT: $28.22 Volume=355K Target=$33.85 Stop=$25.96
POSITION: QRH EE - May. $25c (69 delta, low OI) and/or Stock
http://www.investmenthouse.com/cs/rare.html
CONTINUING LEADER PLAYS
Upside:
Play Date: 12/10/2002
CREE (Cree, Inc.--$20.54; +1.4; optionable): Chip equipment
http://biz.yahoo.com/p/c/cree.html
STATUS: Testing the 50 day MVA. CREE was an early leader as well, and it ran up the short term MVA and then tested the 50 day MVA as is rather normal. It did not form the head and shoulders type pattern many other techs stocks have formed; more of a pure rest after a solid run. It found the 50 day, moved sideways, and then started up Monday on a solid price jump on rising though still lackluster volume. It can, however, provide a very nice run for us and put money in our pocket even if it is just a holiday rally.
Volume: 2.177M Avg Volume: 2.789M
BUY POINT: New: $20.74 (orig. $19.65) Volume=4.1M Target=$24.25 Stop=$18.27
POSITION: CVO FW - June $17.50c (69 delta, low OI) and/or Stock http://www.investmenthouse.com/cs/cree.html
Play Date: 12/11/2002
SCSS (Select Comfort--$9.79; +0.01; no options): Air beds
http://biz.yahoo.com/p/s/scss.html
STATUS: Ascending wedge. Super pattern. SCSS is riding up the 10 day MVA, squeezing up against the breakout point at 10 as volume continues to trade below average. Ready for the breakout.
Volume: 265.597K Avg Volume: 493.318K
BUY POINT: $9.85 Volume=545K Target=$12 Stop=$8.97
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cs/scss.html
Play Date: 11/23/2002
VRNT (Verint Systems--$18.28; +0.87; no options): Business software
http://biz.yahoo.com/p/v/vrnt.html
STATUS: Testing the breakout. VRNT has provided us an excellent move, and is now consolidating the breakout on the 18 day MVA, using that as its bounce point in the consolidation. What it is doing is forming a nice, short ascending wedge on top of the breakout, a bullish consolidation pattern in a continuing uptrend. Looks super, and if we get a strong price move on a volume surge we will add to positions. New positions can be taken at that point as well.
Volume: 128.088K Avg Volume: 155.59K
BUY POINT: New: $19.04 (orig. $15.85) Volume=113K Target=$22.85 (orig. positions $19.15) Stop=$15.75
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cs/vrnt.html
PRE-ANNOUNCEMENT PLAYS
Announced its 2:1 stock split at the board meeting as forecast. It was able to move up over the 50 day MVA on the news on a solid but not inspired move. It is at the gap down point, and if it can clear 100 on some volume that will be an entry point.
Play Date: 10/29/2002
FRX (Forest Labs--$98.42; +1.47; optionable):
http://biz.yahoo.com/p/f/frx.html
STATUS: Announced its 2:1 stock split at the board meeting as forecast. It was able to move up over the 50 day MVA on the news on a solid but not inspired move. It is at the gap down point, and if it can clear 100 on some volume that will be an entry point.
Volume: 2.132M Avg Volume: 2.13M
BUY POINT: $99.55 Volume=3.1M Target=$115 Stop=$103
POSITION: FHA BS - Feb. $95c (63 delta) and/or Stock
http://www.investmenthouse.com/cs/frx.html
Play Date: 12/12/2002
ROST (Ross Stores--$45.35; +0.83; optionable): Apparel stores. Forecast to announce a split on 3-19-03 in conjunction with earnings. At this time the company cannot confirm a time for the release.
http://biz.yahoo.com/p/r/rost.html
BACKGROUND: Last announced a 2 for 1 split on 8-26-99 in conjunction with a board meeting. The stock price was $43.30. The annual shareholder meeting was on 5-23-02 at which time authorized shares were increased. The company has sufficient shares for a 2 for 1 split.
STATUS: Testing the breakout. Moving up over the 18 day MVA on continued rising, above average volume. Accumulation is positive during the base at 7 up weeks on rising volume to 6 down weeks on rising volume. Money flow continues to shoot up. Ready for the move.
Volume: 1.406M Avg Volume: 1.069M
BUY POINT: $45.85 Volume=1.6M Target=$52.75 Stop=$42.64
POSITION: REQ EV - May $42.50c (66 delta, low OI) and/or Stock
http://www.investmenthouse.com/cs/rost.html
Play Date: 10/28/2002
WFMI (Whole Foods Market--$54.18; +0.96; optionable): Health food grocery. Forecast to announce a split on 2-12-03 in conjunction with earnings. The company has not confirmed this date, but based upon our research this is the date for the announcement.
BACKGROUND: Last announced a 2 for 1 split on 5-10-01 in conjunction with a board meeting. The stock price was $50.40. The annual shareholder meeting was on 3-25-02 at which time authorized shares were increased. The company has sufficient shares for a 2 for 1 split.
http://biz.yahoo.com/p/w/wfmi.html
STATUS: Testing the breakout. Making the nice move as volume continues to run up. By the way, all-time new high for WFMI. Nice.
Volume: 996.264K Avg Volume: 666.318K
BUY POINT: Still a buy at this level (53.95; orig. $50.11) Volume=975K Target=Initial $57.51 Stop=$49.94
POSITION: FMQ BI - Feb. $45c (64 delta) and/or Stock
http://www.investmenthouse.com/cs/wfmi.html
WATCHLIST/ CONTINUING
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
$OEX 12/07 Test 50 463.26 +11.45 466.74 486 8.5M 1.5M 455.45
Current. Good recovery over the 50 day and short term MVA.
$SOX 12/07 Test 50 325.65 +16.38 335.15 385 5M 0 313.94
Current. Also a nice move but at critical support.
ALN 12/07 Test BO 10.03 +0.13 9.86 11.85 312K 412K 9.17
ALN 11/09 Test BO 10.03 +0.13 7.28 9.75 312K 200K 8.94
Current.
AME 12/05 DB hdl 37.86 +0.97 38.71 46.45 146K 225K 36
Buy Not Hit.
AMLN 12/12 A Wedge 17.55 -0.3 18.75 22.75 543K 750K 17.25
Buy Not Hit.
AMZN 11/30 Test BO 22.51 +0.33 22.85 29.65 5M 10M 21.25
Buy Not Hit.
AMZN 10/21 cup hdl 22.51 +0.33 20.32 24.38 5M 10M 21.75
Current.
ANT 12/11 Put 22.7 +0.1 22.45 20 164K 200K 23.55
Buy Not Issued.
ATRS 11/23 A Wedge 13.52 +0.52 14.05 18 69K 200K 13.07
Buy Not Hit.
BCGI 10/07 cup hdl 13.65 +0.21 11.25 14 192K 250K 10.95
BEIQ 12/14 Test 50 14.09 -0.16 15.06 18 28K 55K 13.94
New.
BMRN 11/21 BO 7.5 -0.24 7.95 11 225K 750K 7.29
Current.
BRCM 08/17 Test 50 17.11 +0.88 19.2 19.8 8.9M 9M 17.25
Current.
BSTE 12/11 A Wedge 33.8 +2.39 32.07 39.25 1.1M 900K 29.83
Current.
BSX 10/19 Test BO 43.13 +1.38 37.75 45.75 1.4M 3.3M 40.55
Current.
BYS 11/18 Test BO 26.8 +1.01 25.45 30.45 31K 194K 23.67
CHS 10/15 Dbl btm 21.42 +0.31 19.35 23.25 1.7M 1.9M 20.85
Current.
COLM 11/13 DB hdl 47.55 +0.94 41.96 48.45 399K 389K 43.84
Current.
CPHD 12/05 Test BO 5.17 -0.67 6.35 8.32 721K 500K 5.52
Exited.
CPWM 11/02 cup hdl 30.65 +0.2 30.36 36 374K 471K 29.45
Current.
CREE 12/10 Test 50 20.54 +1.4 19.65 24.25 2.2M 4.1M 18.27
Current.
CVD 11/05 Test BO 23.81 +0.11 23.65 28 248K 581K 22.25
Current.
DELL 11/04 cup hdl 27.56 +0.93 30.55 36 23M 36M 28.41
Current.
EXPD 11/09 cup hdl 33.91 +0.01 32.08 38 1.2M 750K 32.45
Current.
EXPE 11/30 A Wedge 70.01 +2.62 78.25 88 2.8M 3.2M 72.77
Current.
FAST 12/14 cup hdl 38.92 +1.09 38.55 43 1.6M 995K 35.85
Current.
FIC 12/07 DB hdl 41.65 +0.25 44.51 48 297K 575K 40.55
Buy Not Hit.
FNF 11/26 Test BO 32.86 +0.46 33.25 38.25 533K 875K 30.92
Buy Not Hit.
FRX 10/29 Test BO 98.42 +1.47 99.55 115 2.1M 3.1M 103
GENZ 11/30 Test BO 32.86 +0.58 35.15 41.94 3.2M 5.2M 31.21
Current.
GGG 12/05 cup hdl 30.04 +0.94 30.37 36.45 85K 180K 28.45
Buy Not Hit.
GTK 10/31 cup hdl 28.19 +1.48 26.15 30 1.2M 900K 24.32
Current.
GYMB 09/18 cup hdl 19.43 +0.58 19.64 22.45 576K 586K 18.27
Current.
HSIC 12/09 Put 45.55 +0.85 44.15 40 515K 667K 41.06
Buy not hit.
IDXC 12/02 cup hdl 17.9 +0.63 17.65 21.25 307K 163K 16.35
Current.
IGEN 11/16 DB hdl 41.77 +0.67 38.81 45 298K 300K 39.25
Current.
INFY 11/30 Test BO 71.45 +2.61 84.05 92 194K 165K 78.17
INFY 11/02 cup hdl 71.45 +2.61 76 87.55 194K 165K 77.25
ISSX 11/30 Test BO 21.25 -1.05 25.05 31 3M 2.5M 23.3
Buy Not Hit.
JEC 12/09 cup hdl 36.86 +0.74 36.75 42 268K 465K 34.18
Buy Not Hit.
KRON 11/13 BO 42.26 +1.08 40.12 47.94 106K 450K 41.78
Current.
LBIX 10/14 cup hdl 2.95 -0.06 3.22 4.35 45K 145K 3.32
Current.
LXK 10/29 cup hdl 62.23 +0.3 61 72 1.6M 2.2M 62.48
Current.
MATK 12/04 Test BO 23.04 -0.33 23.39 27.94 478K 300K 21.45
Buy Not Hit.
MRK 12/07 Test BO 58.5 +1.16 59.15 67 5.2M 9.5M 56.65
Current.
MSFT 12/04 Test 18 54.48 +1.98 56.61 62.75 30M 67M 54.45
MSTR 11/18 BO 15.55 -0.2 18.45 21 212K 550K 17.65
Exited.
NBIX 10/08 Rv H&S 43.9 -0.38 44.85 51.75 403K 1.1M 44.05
Current.
NTAI 12/10 Test BO 26.61 -0.59 24.85 28.75 260K 175K 24.25
Current.
NXTL 11/19 Test BO 12.82 +0.75 13.05 16.15 21M 35M 11.35
Current.
NXTL 11/12 Test 50 12.82 +0.75 12.15 16.15 21M 4.5M 11.35
Current.
OLOG 11/16 cup hdl 22.38 +0.46 23.25 27.94 100K 229K 21.62
Buy Not Hit.
OVTI 12/07 Test BO 17.67 +0.63 18.45 22.35 1.1M 1.2M 16
Current.
PENN 12/14 Put 16.85 +0.17 16.55 14 274K 300K 17.65
New.
PIXR 11/20 BO 61.42 +1.24 57.85 66 897K 775K 57.65
Current.
PNRA 11/07 cup hdl 37.75 +1.14 34.38 39.75 713K 1.2M 34.12
Current.
PPD 11/14 Test BO 27.19 -0.01 25.51 30.55 486K 450K 26.25
Current.
PSUN 12/05 BO 29.39 +1.59 28.05 33 1.1M 1.5M 25.95
Current.
QCOM 12/04 Test 18 39.39 +1.78 40.85 50 12M 18M 37.99
QCOM 11/07 Test BO 39.39 +1.78 34.78 42 12M 18M 38.14
Current.
QLGC 11/07 Test BO 38.37 +1.44 41.4 50 12M 25M 39.88
RARE 12/16 A Wedge 27.51 +0.98 28.22 33.85 92K 355K 25.96
New.
REGN 12/11 Test BO 20.74 +0.2 22.02 26.35 364K 450K 20.24
Buy Not Hit.
RHD 11/30 cup hdl 28.6 +0.55 30.17 25.94 100K 267K 28.06
Buy Not Hit.
ROOM 11/07 Cup 62.49 +3.04 65.25 75 792K 1.2M 67.25
Current.
ROST 12/12 Test 50 45.35 +0.83 45.85 52.75 1.4M 1.6M 42.64
Buy not hit.
SCIO 12/03 cup hdl 33.08 +0.34 33.05 39.65 696K 1.6M 30.74
Buy Not Issued.
SCSS 12/11 Test 18 9.79 +0.01 9.85 12 266K 545K 8.97
Buy Not Hit.
TEVA 11/09 Test BO 38.88 +0.13 36.85 42.51 2.4M 1.8M 37.35
Current.
THO 11/14 A Wedge 37.7 +0.7 36.65 44 125K 175K 35.93
Current.
TMCS 11/26 Test BO 23.03 +1.49 26.45 31.75 1.1M 1.2M 24.61
Current.
TSCO 12/07 Test 18 43.07 +1.9 45.44 51.44 313K 475K 42.26
Buy Not Hit.
TSCO 10/16 Test BO 43.07 +1.9 39.05 46.85 313K 235K 42.05
Current.
UNTD 11/30 Test BO 17.35 +0.36 16.25 19.65 689K 1M 15.11
Current.
UOPX 12/07 Test BO 35.8 +0.53 36.74 42 260K 278K 34.17
Current.
VRNT 11/23 cup hdl 18.28 +0.87 15.85 19.15 128K 113K 15.75
Current.
WERN 11/30 cup hdl 22.18 +0.75 22.75 27.35 364K 550K 21.16
Buy Not Hit.
WFMI 12/14 Test BO 54.18 +0.96 53.65 64 996K 975K 51.35
Current.
WFMI 10/28 cup hdl 54.18 +0.96 50.11 57.51 996K 975K 49.94
Current.
WFR 11/14 cup hdl 9.48 +0.88 8.45 11 112K 325K 8.12
Current.
Good Investing!
Jon L. Johnson and the Stock Split Report 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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