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Begin Part 2 of 2

Downside:

ETM (Entercom Communications--$45.87; -1.53; optionable): Radio broadcasting
http://biz.yahoo.com/p/e/etm.html
STATUS: Head & shoulders. ETM is completing the pattern, breaking below the neckline Friday after trying to hold the line with a weak rally attempt up to that point. The breakdown also concided with a weak test of the 10 day MVA Thursday. The breakdown sets up the move lower to the target. One thing to remember. Just as with upside moves, stocks rarley move in a straight line and hit the target on the same move. Thus we will see ETM fall then try to rally, then fall some more. That is normal action.
Volume: 184.6K Avg Volume: 350K
BUY POINT: $45.75 Volume=325K Target=$42 Stop=$46.78
POSITION: ETM OJ - Mar. $50p (-66 delta) or ETM OI - Mar. $45p (-41 delta)
http://www.investmenthouse.com/ci/etm.html

MLHR (Herman Miller--$18.15; -0.26; optionable): Business equipment
http://biz.yahoo.com/p/m/mlhr.html
STATUS: 50 day MVA breach. MLHR fell below the 50 day MVA (18.80) four sessions back. This move followed a double test of the 200 day MVA (19.92) in December that failed. After breaking the 50 day, MLHR tested it on Thursday's high, and then fell further Friday. There is some support at 18, and we are looking for MLHR to break that level before entering and then letting it work lower for us as it stair-steps down the short term MVA.
Volume: 165.959K Avg Volume: 435K
BUY POINT: $17.94 Volume=425K Target=$15.85 Stop=$19.05
POSITION: MHQ ND - Feb. $20p (-73 delta, low OI)
http://www.investmenthouse.com/ci/mlhr.html

CONTINUING PLAYS:

Still look good:
ADTN
CEPH
ESPD
IGEN
NSCN
OVER
STK
UNTD

Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop

$SOX 12/07 Test 50 296.49 -3.80 335.15 385 0 0 313.94
Current. Holding near support at 300, good point for oversold bounce.

ADTN 12/10 Test 18 32.23 +0.33 32.05 38.45 155K 800K 30.35
Current. Still working in a test of the breakout, holding the 18 day MVA.

AIG 12/18 Put 56.68 -1.62 58.55 54 4.5M 7M 59.15
Current. Selling strengthens on rising volume, breaking the key level at 58.

ALN 12/07 Test BO 9.69 -0.31 9.86 11.85 108K 412K 9.17

ALN 11/09 Test BO 9.69 -0.31 7.28 9.75 108K 200K 9.25
Current. Has tested back to the 18 day MVA in the market selling. Very low volume, but needs to hold here as this is the second 18 day MVA test in 3 weeks.

AMZN 10/21 Cup hdl 18.86 -1.44 20.32 24.38 22M 10M 21.75
Crashed through the 50 day MVA on volume as speculation rises about 2003.

ANT 12/11 Put 24.55 -0.12 22.45 20 92K 200K 23.55
Current. Doji after the strong move. Looking for a test back toward 23.

APOL 12/28 Cup hdl 44.25 -0.43 45.61 54.75 818K 3.5M 42.42
New.

ATRS 11/23 A Wedge 14.12 +0.13 14.05 18 61K 200K 13.07
Buy Not Hit. Still looks super.

AVID 12/07 Test 18 22.8 +0.18 21 25 598K 500K 20.15
Current. Tried to rally Friday, hitting 23.47 on the high. Volume jumped. Still looks good here.

AVID 10/30 Cup hdl 22.8 +0.18 15.65 25 598K 177K 20.15
Current.

AVP 11/25 Cup hdl 53.61 -0.57 52.94 61 613K 1.8M 52.75
Current. Gave back some of the Thursday move, but still holding up.

BCGI 12/19 Test 50 13.25 -0.12 13.75 16.55 86K 250K 12.65
Buy Not Issued.

BER 11/13 Cup hdl 39.1 -0.73 38.4 45 142K 306K 38.35
Current. Still working laterally along the 18 day MVA, though Friday's move was disappointing, giving back the Thursday gain.

BSX 10/19 Test BO 42.08 -1.26 37.75 45.75 1.3M 3.3M 41.94
Current. Fell below the 18 day MVA but held 42. After a long move up the short term MVA BSX may be ready to test near the 50 day MVA just over 40.

BWS 12/17 Cup hdl 25.25 -0.23 26.35 31.65 36K 165K 24.33
Current. Still showing that very nice, low volume test of the breakout, holding over the 10 day MVA.

CEPH 12/14 Put 49.02 -1.31 49.19 45.51 1.1M 2M 50.65
Current. Tanking on some volume.

CVD 12/21 Cup hdl 24.63 +0.13 24.75 29.74 436K 581K 22.88
Buy not issued. Rallied again Friday on some volume, but did not hold all of the gain. We could have entered but decided to hold off until early this week and see if the move continues. Looks solid.

CVD 11/05 Test BO 24.63 +0.13 23.65 28 436K 581K 23.35
Current.

DANKY 12/17 Cup hdl 4.3 +0.11 4.62 5.65 163K 560K 4.25
Buy Not Hit. Holding the 18 day MVA and bouncing slightly on some rising volume. May be ready for the move.

ECL 10/30 Cup hdl 49.01 -0.63 49.11 56.55 410K 1M 48.15
Current. Testing the 10 day MVA on rising though still below average volume.

ESPD 12/19 Test BO 16.9 -0.16 17.81 21.45 225K 675K 16.11
Buy Not Issued. Ready for the next move up.

ETM 12/28 Put 45.87 -1.53 45.75 42 185K 325K 46.78
New.

EXPE 11/30 A Wedge 64.93 -2.04 78.25 88 1.8M 3.2M 72.77
Current. Broke the 50 day MVA as the handle gets a bit wild. Needs to hold 65.

FOX 11/05 Cup hdl 25.34 -0.66 27.15 32.45 900K 1.5M 25.25
Current. Sold to the 50 day MVA. Giving it a chance to recovery here but won't let it close lower.

GTK 10/31 Cup hdl 29.13 +0.11 26.15 30 261K 900K 28.04
Current. Moving laterally, forming another handle on nice, low volume.

HAR 11/21 Test 18 59.1 +1.05 61.6 70 350K 488K 59.85
Current. Nice volume move up off of the 50 day MVA.

HLTH 12/12 Cup hdl 8.5 -0.1 8.85 11.35 639K 3.1M 8.23
Buy Not Hit. Still working in the wedge, testing the 18 day MVA Friday.

HSIC 12/09 Put 44.81 -0.84 44.15 40 246K 667K 46.05
Buy Not Issued. Looks ready to break down after a low volume test of the 50 day MVA last week, but want to see more volume on the selling.

HTLD 12/28 Cup hdl 22.65 +0.22 23.28 27.94 82K 240K 22.05
New.

IBM 12/04 Test 50 77.36 -1.14 84.94 94.94 6.3M 12M 78.99
Current. Fell through the 200 day MVA Friday. Will give it Monday to recover.

IBM 11/11 Test 50 77.36 -1.14 78.45 88 6.3M 12M 82.24
Current.

IDBE 12/16 DB hdl 6.6 -0.06 6.65 8.55 38K 165K 6.15
Current. Holding the 10 day MVA with a doji as it continues to work up the short term MVA.

IDXC 12/02 Cup hdl 17.6 -0.3 17.65 21.25 72K 163K 16.85
Current. Moving in a tight, lateral pattern over the 10 day MVA.

IGEN 12/19 Test BO 43.55 -0.09 43.05 49.55 159K 450K 42.05
Current. Looks ready for more after this low volume test of the 10 day MVA.

IGEN 11/16 DB hdl 43.55 -0.09 38.81 45 159K 300K 41.75
Current.

LBIX 10/14 Cup hdl 2.75 -0.43 3.22 4.35 191K 145K 3.32
Current. Suddenly dumped Friday, testing the 200 day MVA on the low and rebounding. Will see if it can recovery this wee back over the 50 day MVA.

LMLP 12/07 Cup hdl 13.58 +0.05 10.75 12.96 73K 135K 12.25
Buy Not Issued. Still working in the flying plateau following its big breakout. Very good action, but will need the next move soon.

LMLP 11/23 Cup hdl 13.58 +0.05 9.75 14.25 73K 135K 12.97
Current.

LOOK 12/22 Cup hdl 2.49 -0.14 2.94 4.95 600K 950K 2.58
Buy Not Hit. Still in the handle.

LXK 10/29 Cup hdl 60.65 -1.35 61 72 750K 2.2M 62.48
Exited.

MATK 12/04 Test BO 25.55 -0.57 23.39 27.94 93K 300K 24
Current. Very low volume test of the massive breakout. In good shape.

MDCO 12/05 Test BO 15.75 -0.4 17.05 20.55 272K 800K 15.35
Buy Not Hit. Trying to work laterally still in a breakout test, but struggling.

MERQ 12/11 Test BO 30.67 -0.33 31.55 38 1.2M 5M 29.94
Current. Holding at the 18 day MVA on continued below average volume. Having trouble with 32. Needs to clear it this week or we will take the money off the table and let it form up again.

MLHR 12/28 Put 18.15 -0.26 17.94 15.85 166K 425K 19.05
New.

MSFT 12/04 Test 18 52.97 -0.42 56.61 62.75 21M 67M 54.45
Current. Continues to work laterally in the recent range. That is about the best you can say for it.

MSN 12/04 Cup hdl 4.65 -0.2 4.85 6.35 121K 150K 4.51
Current. Trying to hold at the early December high with a tight hammer doji. Needs to recover here.

MSN 11/23 Cup hdl 4.65 -0.2 4.15 5.68 121K 150K 4.51
Current.

MVL 11/04 BO 8.64 -0.16 8.74 10.75 50K 400K 8.35
Current. MVL is getting to our patience. After a good original move it is now in the midst of a month-long lateral move that is forming another handle to the cup. The action remains positive so we will give it some time.

NBIX 10/08 Rv H&S 47.25 -1.88 44.85 51.75 481K 1.1M 45.45
Current. Turned and gave back the solid Thursday move, but it did so on very low volume. Just no buyers Friday; still in good shape.

NSCN 12/22 Pennant 17.2 +0.32 17.24 21.24 314K 1.8M 16.03
Buy Not Issued. Working toward the breakout but needs some volume.

NTES 12/19 Test BO 11.42 -0.93 12 14.45 743K 550K 11.12
Current. Testing the 10 day MVA after the strong move. Volume a bit higher than we would like, but a strong sector.

NXTL 11/19 Test BO 12.07 -0.53 13.05 16.15 12M 35M 11.78
Current. Struggled Friday, falling to the 50 day MVA on rising, though slightly higher volume. Needs to hold here.

NXTL 11/12 Test 50 12.07 -0.53 12.15 16.15 12M 4.5M 11.78
Current.

OVER 12/26 Cup hdl 28.61 -0.36 30.05 36 499K 2.5M 27.95
Buy Not Hit. Still in the handle, showing a doji at the 18 day MVA on low volume.

PFGC 12/09 Put 33.73 -0.44 33.97 31.75 177K 475K 34.75
Current. Turned over from another test of the 18 day MVA Friday.

PIXR 11/20 BO 53.29 -2.93 57.85 66 915K 775K 57.65
Exited.

PNRA 11/07 Cup hdl 35.31 -0.91 34.38 39.75 426K 1.2M 34.12
Current. On the bubble as it slides below the 18 day MVA on some slightly rising volume. Not going to let it slide much lower.

PPD 11/14 Test BO 26.36 -0.57 25.51 30.55 223K 450K 26.25
Current. Big picture, PPD is in a handle to its 10-month base. Near term it is getting close to an important support level at 26 that it needs to hold.

QCOM 12/21 Test 50 37.27 -0.8 39.15 48 6.5M 18M 36.41
Buy Not Hit.

QCOM 12/04 Test 18 37.27 -0.8 40.85 50 6.5M 18M 37.99
Current. Holding the 50 day MVA on low volume as it continues to hold over support at the late October high.

QCOM 11/07 Test BO 37.27 -0.8 34.78 42 6.5M 18M 38.14
Current.

QLGC 11/07 Test BO 36.87 -0.4 41.4 50 4.9M 25M 39.88

QLGC 08/17 CCall 36.87 -0.4 36.48 0 4.9M 12M 37
Current. Still hovering around the 50 day MVA.

RIMM 12/22 Put 13.11 -0.2 12.94 9.95 315K 1.7M 14.04
Buy Not Issued. Still hovering over 13, the important breakdown point, but still unable to break and hold over the 50 day MVA.

RINO 10/24 Test BO 17.25 -0.42 17.35 20.75 130K 225K 16.95
Current. Still trying to get up off the 50 day MVA, but up and down each session. Need to see a move this week.

RINO 08/28 Cup hdl 17.25 -0.42 13.8 20 130K 300K 16.95
Current.

ROIAK 12/28 Rv H&S 13.95 -0.08 14.55 17.49 234K 650K 13.53
New.

ROK 12/14 Cup hdl 20.06 -0.54 21.89 26.25 494K 1M 19.95
Current. Thudded down to support at 20. Critical it holds here.

SAY 12/12 Cup hdl 13.15 -0.01 13.48 16.98 111K 255K 12.54
Buy Not Hit. Still moving laterally over the 10 day MVA in the handle.

SCIO 12/03 Cup hdl 33.02 -0.67 33.05 39.65 500K 1.6M 30.74
Buy Not Issued. Never garnered the volume it needed and is now back to the 18 day MVA. May be a shakeout before a stronger move.

SFNT 12/16 Test 50 24.6 -0.84 26.7 32.45 85K 188K 24.25
Current. Could not hold the 18 day MVA Friday, but managed to bounce off the low at support at 24.

SINA 12/04 Test BO 6.67 -0.58 5.58 7.21 1.6M 950K 6.48
Current. Testing the strong surge higher though gave back more than we would want in a single session to start the pullback to test 6.25.

STK 12/26 Cup hdl 21.28 +0.06 23.21 27.88 362K 1.2M 21.59
Buy Not Hit. Very tight trading range right on top of the 18 day MVA as it still works in the handle.

SYK 12/21 Rv H&S 65.57 -0.98 67.53 77.62 382K 1.2M 62.84
Buy Not Hit. Still moving in the pattern, though testing back to the 18 day MVA on low volume Friday. Ready to make the breakout.

TTEK 12/17 Test BO 12.32 -0.43 14.01 16.85 237K 600K 13.03
Buy Not Hit. Still working in the breakout, but fell below the 18 day MVA Friday on the close as volume edged higher.

UNTD 11/30 Test BO 16.19 -0.11 16.25 19.65 313K 1M 15.55
Current. Very nice test of the 18 day MVA from this leader.

UPL 10/19 A Wedge 9.6 +0.1 9.68 11.75 126K 345K 9.35
Current. Holding the 18 day MVA on low, below average volume.

UTHR 11/12 DB hdl 17.08 -0.17 17.65 21.45 74K 295K 16.21
Current. Still working in the tight, lateral move along the 18 day MVA. Needs to make a move soon, but would not be surprised to see a quick shakeout test down to 16.50 or so and then a recovery.

VAR 12/18 Rv H&S 49.13 -0.02 50.25 58 227K 700K 48.05
Current. Nice doji at the 10 day MVA after the test from the new high.

VOXX 12/26 Test 18 10.77 -0.08 11.35 13.75 58K 131K 10.56
Buy Not Hit. Hammer doji on top of the 18 day MVA. Still looks solid.

VRNT 11/23 Cup hdl 21.11 -0.23 15.85 21.55 380K 113K 19.94
Current. Took the day off after the great move.

VRTS 08/19 CCall 16.58 -0.49 19.76 20 3.4M 8.5M 17.45
Current.

VZ 12/04 Cup hdl 38.9 -0.79 41 47.5 3.7M 11M 38.13
Buy Not Hit.

VZ 11/23 Cup hdl 38.9 -0.79 41 45 3.7M 11M 38.25
Current. Sank below the 18 day MVA Friday but held the simple 50 day MVA on the session. Still in decent shape but needs to definitively clear 40 on some volume this week.

VZ 10/10 Test 50 38.9 -0.79 34.75 42 3.7M 10M 37.96
Current.

WFR 11/14 Cup hdl 7.99 -0.06 8.45 11 100K 325K 8.12
Current. Holding the 50 day MVA on continued below average volume.

Good Investing!
Jon L. Johnson and your IH Alerts 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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