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stock option, stock market news
Begin Part 2 of 3
THE PLAYS:
Good moves: MRCY; WSM
Best Plays:
1) GPN: Rolling over from the 200 day MVA.
2) APPX: Getting some nice volume.
3) CCCG: Still in the very tight pattern.
4) MERQ: Getting some good upside volume.
5) MRCY: Very nice test, and now the voume is coming in.
6) BCGI: Starting to roll lower.
7) BVF: Started lower, may bounce some before falling further.
8) NSM: Trying the last test of the short term MVA.
New Plays:
Upside:
Play Date: 01/27/2003
KNSY (Kensey Nash Corp.--$19.46; +0.06; no options): Medical instruments
http://biz.yahoo.com/p/k/knsy.html
STATUS: Testing breakout. KNSY broke out of a 2.5 month ascending triangle 5 sessions back and is now testing that move over support at 19. This move is part of a larger base starting last March, and KNSY is moving up the right side of the base, showing some good volume the past week as it starts a more significant move in the base. Accumulation at this point is 9 up weeks on rising volume to 5 down weeks on rising volume. With the good move it is bucking the market and thus relative strength is breaking out. As it held up very well in the selling KNSY is now ready to move up again from this slight pullback from the breakout.
Volume: 61.893K Avg Volume: 57.5K
BUY POINT: $19.74 Volume=100K Target=$23.68 Stop=$18.36
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/knsy.html
Downside:
Play Date: 01/27/2003
GPN (Global Payments--$27.91; -1.6; optionable): Business services
http://biz.yahoo.com/p/g/gpn.html
STATUS: Put. A solid stock that ran into trouble. GPN broke the 50 day MVA just below 30 6 sessions back, rallied to test it Friday and then collapsed Monday on rising, average volume. May try a bounce up one more time and then roll over for the buy.
Volume: 150.7K Avg Volume: 143.954K
BUY POINT: $27.85 Volume=175K Target=$24.25 Stop=$29.11
POSITION: GPN OF - Mar. $30p (-50 delta)
http://www.investmenthouse.com/ct/gpn.html
Play Date: 01/27/2003
LEH (Lehman Brothers--$54.05; -0.01; optionable): Investment brokerage
http://biz.yahoo.com/p/l/leh.html
STATUS: Put. A big drop from the peak at 60, LEH fell through the 50 day MVA just over 56 and Monday landed at some support at 54, showing a doji at that level. We are expecting a bounce back up to the 50 day (56.33) off of the doji. When the move fails that is where we enter for further downside.
Volume: 2.563M Avg Volume: 2.362M
BUY POINT: $55.45 Volume=2.8M Target=$51.75 Stop=$56.55
POSITION: LEH PK - April $55p (-47 delta) or LEH OK - Mar. $55p (-49 delta)
http://www.investmenthouse.com/ct/leh.html
CONTINUING PLAYS:
Play Date: 01/14/2003
ANSI (Advanced Neuromo--$36.76; -0.64; optionable): Medical instruments
http://biz.yahoo.com/p/a/ansi.html
STATUS: Cup w/handle. The action in the handle is getting a bit wilder, but it is on some lower volume and ANSI is holding the 18 day MVA on the close. This last couple of lower tests the last two sessions looks to be a shakeout. We are sitting tight and waiting for the breakout.
Volume: 87.773K Avg Volume: 194.409K
BUY POINT: $38.36 Volume=309K Target=$46 Stop=$35.67
POSITION: UAI EG - May $35c (45 delta, low OI) and/or Stock
http://www.investmenthouse.com/ct/ansi.html
Play Date: 01/25/2003
APPX (American Pharmaceutical--$24.99; +0.81; optionable): Drug manufacturing
http://biz.yahoo.com/p/a/appx.html
STATUS: Testing the breakout. Monday APPX started up off the test, gathering some above average volume on the way. Intraday it tested lower toward the 10 day MVA at 23, but then started right back up.
A new issue last January, APPX formed a cup base and broke out in October. Since then it rallied and has now formed another shorter 10-week base. It broke out of that four sessions back on a big upside gap and is now testing back on much lower volume. Accumulation in the overall base is excellent at 11 up weeks on rising volume to 1 down week on rising volume.
Volume: 649.725K Avg Volume: 508.59K
BUY POINT: New: up to 25.10 (orig. $24.26). Volume=770K Target=$29 Stop=$22.56
POSITION: AQO GX - July $22.50c (68 delta, low OI) and/or Stock
http://www.investmenthouse.com/ct/appx.html
Play Date: 01/06/2003
CCCG (CCC Information Services--$20.6; -0.31; no options): Management services
http://biz.yahoo.com/p/c/cccg.html
STATUS: Testing the breakout. Repeat from the weekend: Continues to move laterally right on top of the 10 day MVA on below average volume, testing the strong move made a week back. Still holding its ground as the market sold, CCCG tucked up against the 10 day MVA on very, very low volume. Waiting for the next move higher.
Volume: 25.758K Avg Volume: 110.272K
BUY POINT: $20.81 Volume=173K Target=$26 Stop=$19.94
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/cccg.html
Play Date: 01/15/2003
EASI (Engineered Support--$37.92; +0.34; optionable): Aerospace/defense
http://biz.yahoo.com/p/e/easi.html
STATUS: Ascending wedge. Carbon copy of Friday, but in reverse. EASI is still tapping the 18 day MVA on the low (37) as it works on its 7-week pattern that is part of a larger 4-month cup base. EASI tested the 50 day MVA just over 36 early in the month and has since used the 10 and 18 day MVA as support. Continues to hold well as the market sells.
Volume: 202.672K Avg Volume: 195.227K
BUY POINT: $38.15 Volume=300K Target=$45.88 Stop=$36.45
POSITION: UFE EG - May $35c (69 delta, low OI) and/or Stock
http://www.investmenthouse.com/ct/easi.html
Play Date: 12/11/2002
MERQ (Mercury Interactive--$36.27; +0.87; optionable): System software
http://biz.yahoo.com/p/m/merq.html
STATUS: Testing the 18 day MVA. Gapped higher in early December on some great earnings, then dumped lower 6 sessions back on some generally bad news in the software sector. MERQ is holding up very well, however, moving up 2 of the last 3 sessiosn on rising, above average volume. Relative strength continues to break higher as the stock continues to hold up well. Has been enticign up and looks ready for another move.
Volume: 4.047M Avg Volume: 3.31M
BUY POINT: New: 37.05 (orig. $31.55) Volume=5M Target=$41 Stop=$34.74
POSITION: RQB DF - April $30c (63 delta) and/or Stock
http://www.investmenthouse.com/ct/merq.html
Play Date: 12/14/2002
MRCY (Mercury Computer Systems--$33.11; +1.39; optionable): Telecom equipment
http://biz.yahoo.com/p/m/mrcy.html
STATUS: Testing the breakout. Huge breakout over a week back and then some immediate, lower volume testing as the market sold back hard. MRCY, however, just pulled back to the 18 day MVA, held, and then on Monday started back up on some rising, above average volume. Looks ready to continue the move.
Volume: 326.803K Avg Volume: 213.863K
BUY POINT: New: $33.20 Volume=350K Target=$38.45 Stop=$31.74
POSITION: QYR EF - May $30c (63 delta, low OI) and/or Stock
http://www.investmenthouse.com/ct/mrcy.html
Play Date: 12/21/2002
MSN (Emerson Radio--$5.89; -0.11; no options): Consumer electronics
http://biz.yahoo.com/p/m/msn.html
STATUS: Testing the 18 day MVA. Still holding the 18 day MVA after gapping lower but recovering to close at the 10 day MVA on lower volume. This is the second test of the 18 day MVA (5.70) after testing down to the 50 day MVA (now at 5) in late December. A good entry point as it has held up well. Now we just look for the jump higher on some rising volume for new positions.
Volume: 86.4K Avg Volume: 167.272K
BUY POINT: $6.16 Volume=150K Target=$7.45 Stop=$4.94
POSITION: Stock (no option chain)
http://www.investmenthouse.com/ct/msn.html
Play Date: 01/25/2003
NFLX (Netflix--$12.28; -0.05; optionable): Mail order movie rental
http://biz.yahoo.com/p/n/nflx.html
STATUS: Ascending wedge. New issue in May. Currently working up off the bottom of its first base, forming the current ascending wedge/triangle over the past 5 weeks as it does. Accumulation in the larger base is solid at 7 up weeks on rising volume to 2 down weeks on rising volume.and money flow is strong and rising up ahead of the stock price showing a positive divergence, meaning that money flow is higher at this price than it was when the stock was at 14 in June. Tapped the 18 day MVA on the Monday low (11.72) and rallied back up. Looks ready.
Volume: 246.116K Avg Volume: 339.409K
BUY POINT: $13.05 Volume=503K Target=$15.88 Stop=$12.14
POSITION: QNQ FV - June $12.50c (58 delta) and/or Stock
http://www.investmenthouse.com/ct/nflx.html
Play Date: 01/06/2003
POSS (Possis Medical--$19.09; -0.05; optionable): Medical Appliances
http://biz.yahoo.com/p/p/poss.html
STATUS: Cup w/handle. Tried to make the next breakout move Monday after a good volume surge late last week. Once again it stalled out near 19.50, but given the market that was not bad action at all. Money flow is excellent and relative strength is breaking out already, a bullish sign. Still looking for that strong move that holds for the next positions.
Volume: 243.893K Avg Volume: 157.136K
BUY POINT: New: 19.58 (orig $18.35) Volume=167K Target=$22.12 Stop=$17.35
POSITION: UPQ DC - April $15c (77 delta, low OI) and/or Stock
http://www.investmenthouse.com/ct/poss.html
Downside:
Play Date: 01/15/2003
BCGI (Boston Communications--$11.45; -0.2; optionable): Wireless communications
http://biz.yahoo.com/p/b/bcgi.html
STATUS: Put. Making the move lower though it did bounce up off the session low (11.17). Still riding down the 10 day MVA just below 12, and additional positions can be taken on a quick test higher toward the 10 day at 11.85.
Volume: 163.468K Avg Volume: 234.363K
BUY POINT: Test 11.85, then $11.61 Volume=225K Target=$9.65 Stop=$12.25
POSITION: QGB OC - Mar. $15p (-50 delta, no OI)
http://www.investmenthouse.com/ct/bcgi.html
Play Date: 01/25/2003
BVF (Biovail--$28.27; -0.69; optionable): Drug delivery systems
http://biz.yahoo.com/p/b/bvf.html
STATUS: Put. Gapped lower Monday, but held at mild support at 28 on the low. Volume was not heavy & it may try one more bounce up with the market before continuing lower. Still in the downtrend.
Volume: 472K Avg Volume: 1.028M
BUY POINT: New: on a bounce toward 29 that rolls back over. (orig. $28.85) Volume=1M Target=$25.55 Stop=$29.65
POSITION: BVF PF - April $30p (-51 delta)
http://www.investmenthouse.com/ct/bvf.html
Play Date: 01/25/2003
CVH (Coventry Health Care--$27.23; -0.76; optionable): Medical practitioners
http://biz.yahoo.com/p/c/cvh.html
STATUS: Put. Failing test of the 50 day MVA breach. CVH started down on higher volume (though still well below average). Rebounded some from support near 27 but has started the move lower.
Volume: 322K Avg Volume: 655.045K
BUY POINT: Nothing new right now (orig. $27.95) Volume=600K Target=$24.25 Stop=$29.15
POSITION: CVH PF - April $30p (-55 delta)
http://www.investmenthouse.com/ct/cvh.html
Play Date: 01/25/2003
NSM (National Semiconductor--$14.13; 0; optionable): Semiconductor
http://biz.yahoo.com/p/n/nsm.html
STATUS: Put. Tried to bounce a bit, up toward the 10 day MVA on the high (14.50). It may give another bit of a bounce up toward the 18 or 50 day MVA (15.25, 15.74) before rolling over as chips did a bit better. NSM broke back below the 50 day MVA at 16 a week back. There is some support at 14, but a break below that level on some rising volume gives a nice put play that can yield a nice return.
Volume: 2.216M Avg Volume: 2.446M
BUY POINT: $13.96 Volume=2.8M Target=$11.95 Stop=$15.05
POSITION: NSM OW - Mar. $17.50p (-75 delta, low OI)
http://www.investmenthouse.com/ct/nsm.html
Play Date: 01/25/2003
PNRA (Panera Bread--$30.66; -0.89; optionable): Specialty eats
http://biz.yahoo.com/p/p/pnra.html
STATUS: Put. Never got the test of 32 but entered anyway when we saw the action. Plunged lower on continued above average volume. Nice two-day tumble and it may try a small bounce Tuesday or Wednesday, but it is now well below the 200 day MVA, selling on conitnued rising volume. May still try that test, and when it fails more positions can be taken.
Volume: 935.418K Avg Volume: 582.045K
BUY POINT: New: Test toward 32 that fails. Volume=800K Target=$28 Stop=$32.35
POSITION: UPA OG - Mar. $35c (-73 delta)
http://www.investmenthouse.com/ct/pnra.html
End Part 2 of 3
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stock option
stock market news
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