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us stock market, trade stock
Begin part 2 of 3
THE PLAYS
Good moves: IMCL; DISH; AMGN; MSN; MVL
Best Plays:
1) EXPE: Consolidating a nice move.
2) GSOF: Forming a great handle to a nice base.
3) ICST: Ditto.
4) IRM: Nice pullback to test the breakout.
5) MEDI: Great action and now just needs to breakout.
6) SLAB: Keep an eye on this one.
7) SSYS: Very nice base forming.
New Plays:
Upside:
Play Date: 03/05/2003
EXPE (Expedia--$69.55; +0.87; optionable): Online travel . . . dot com
http://biz.yahoo.com/p/e/expe.html
STATUS: Testing the move. EXPE bounced up off 60 the past two weeks and is now moving laterally just below 70 as volume backs off. It is consolidating the nice gain, holding onto those gains on that lower volume. Money flow continues to rally, and after this little pullback (holding up very well while the market sold) we are looking for EXPE to continue the solid move. It can really run when it starts moving.
Volume: 1.406M Avg Volume: 2.078M
BUY POINT: $70.55 Volume=2.5M Target=$78 Stop=$66.55
POSITION: UED GN - July $70c (55 delta) and/or Stock
http://www.investmenthouse.com/ct/expe.html
Play Date: 03/05/2003
GSOF (Group 1 Software--$16.33; -0.09; no options): Application software
http://biz.yahoo.com/p/g/gsof.html
STATUS: Cup w/handle. GSOF split in early December, and after a run up to 17.50, it has formed the current 7-week base showing excellent accumulation at 4 up weeks on rising volume to 0 down weeks on rising volume. It is currently forming the handle, a lateral and slightly lower move on lower volume. It has moved back toward the 10 day MVA (15.62), tapping at that level on the Wednesday low (15.82) and rebounding back. Very nice action, and we are looking for the breakout as relative strength starts to breakout and money flow leading the way higher.
Volume: 80.886K Avg Volume: 108.818K
BUY POINT: $17.05 Volume=164K Target=$20.55 Stop=$15.86
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/gsof.html
Play Date: 03/05/2003
ICST (Integrated Circuit System--$23.1; -0.04; optionable): Integrated semiconductor circuits
http://biz.yahoo.com/p/i/icst.html
STATUS: Cup w/handle. Working on a nice 3.5 month base, forming a very nice handle this week. After peaking Monday, ICST has backed down toward the 10 day MVA (22.67) in an orderly manner, showing a nice, tight doji Wednesday that tapped at the 10 day MVA on the low and bounced. Volume jumped back above average on the doji, an indication that there was buying support when it high that level. Looking for the breakout here (have upped the buy point to take into consideration the formation of the handle).
Volume: 2.137M Avg Volume: 1.53M
BUY POINT: $23.65 Volume=2M Target=$27 Stop=$21.99
POSITION: IUY GX - July $22.50c (60 delta, low OI) &/or Stock
http://www.investmenthouse.com/ct/icst.html
CONTINUING PLAYS:
Upside:
Play Date: 02/04/2003
CGNX (Cognex--$21.9; +0.22; optionable): Scientific & Technical instruments
http://biz.yahoo.com/p/c/cgnx.html
STATUS: Ascending triangle. Okay. We have been following CGNX for, oh, about ever. It continues to form a good pattern, and it looked as if it was going to make the breakout this time but it turned back again. It held in the pattern, however, finding support at 21.34, above the 50 day MVA right at 21. Volume jumped back up over average as the stock rallied up from the low. Still being patient and have to wait for the breakout.
Volume: 463.983K Avg Volume: 346.136K
BUY POINT: $23.09 Volume=525K Target=$26.88 Stop=$21.47
POSITION: QCG ED - May $20c (65 delta, low OI) and/or Stock
http://www.investmenthouse.com/ct/cgnx.html
Play Date: 03/03/2003
CNCT (Connetics--$14.3; -0.18; optionable): Drug manufacturer
http://biz.yahoo.com/p/c/cnct.html
STATUS: Testing the breakout. Testing the 18 day MVA as it continues the test of the strong volume move higher in February. The current move follows a breakout from a 13-month pattern that sported solid 13 to 3 accumulation (13 up weeks on rising volume to 3 down weeks on rising volume). Strong accumulation the past two months and money flow is strong. Throwing some big volume spikes during this pullback, indicating the stock is still under accumulation. Waiting for the breakout move.
Volume: 241.992K Avg Volume: 186.909K
BUY POINT: $14.88 Volume=210K Target=$17.88 Stop=$13.84
POSITION: UXU GV - July $12.50c (80 delta, low OI) and/or Stock
http://www.investmenthouse.com/ct/cnct.html
Play Date: 03/04/2003
CY (Cypress Semiconductor--$5.98; -0.17; optionable): Semiconductor
http://biz.yahoo.com/p/c/cy.html
STATUS: Flat base. Still working laterally over the 50 day MVA, testing down to that level Wednesday as volume has picked up above average the past two sessions. Excellent accumulation in this 3-month base it is forming (the left and bottom of a cup). We will see if it can give us the break higher for the trade.
Volume: 2.135M Avg Volume: 1.563M
BUY POINT: $6.53 Volume=2.3M Target=$8.55 Stop=$6.07
POSITION: CY IA - Sept. $5c (75 delta, low OI) &/or Stock
http://www.investmenthouse.com/ct/cy.html
Play Date: 02/24/2003
IRM (Iron Mountain--$34.86; +0.17; optionable): Physical document storage
http://biz.yahoo.com/p/i/irm.html
STATUS: Flat. IRM jumped higher four sessions back on strong volume and is showing a nice, orderly pullback on lower, below average volume as the market sold back. Wednesday IRM was up, and we are looking for more volume to flow in. Very strong pattern with great accumulation at 4 up weeks on rising volume to 1 down week on rising volume. Looking for the next move up on volume for more or new positions.
Volume: 166.3K Avg Volume: 248.318K
BUY POINT: New: 35.25 (orig. $34.75). Volume=389K Target=$39.55 Stop=$32.32
POSITION: IRM GF - July 30c (70 delta) and/or Stock
http://www.investmenthouse.com/ct/irm.html
Play Date: 02/27/2003
MEDI (Medimmune--$30.02; +0.2; optionable): Biotechnology
http://biz.yahoo.com/p/m/medi.html
STATUS: Ascending triangle. Working very well in the pattern, holding above the 18 day MVA on the low (29.30) and then bouncing up on stronger, above average volume. Money flow is excellent and relative strength is making the breakout. This is in conjunction with solid accumulation since August, coming in at 7 up weeks on rising volume to 1 down week on rising volume.
Volume: 4.522M Avg Volume: 4.109M
BUY POINT: $30.25 Volume=6M Target=$34.84 Stop=$28.13
POSITION: MEQ FF - June $30c (53 delta) and/or Stock
http://www.investmenthouse.com/ct/medi.html
Play Date: 02/15/2003
NATI (National Instruments--$33.63; +0.08; optionable): Computer peripherals
http://biz.yahoo.com/p/n/nati.html
STATUS: Ascending triangle. Very tight action in the handle as trade calms down along with volume. This quiet last week in a nice 3-month pattern suggests the calm before the storm. Wednesday volume jumped up to average from basically no trade the last week. That caught our attention (not short covering as the stock has not sold off at all) and we are watching for the strong volume move higher. Excellent money flow.
Volume: 245.785K Avg Volume: 219.727K
BUY POINT: $34.05 Volume=425K Target=$39 Stop=$32.45
POSITION: SJQ FF - June $30c (71 delta, low OI) &/or Stock
http://www.investmenthouse.com/ct/nati.html
Play Date: 03/04/2003
PKI (Perkinelmer--$8.27; +0.11; optionable): Scientific & technical instruments
http://biz.yahoo.com/p/p/pki.html
STATUS: Testing the 200 day MVA (8.03). Started up off the 200 day Wednesday, but volume fell off from the solid levels the prior 4 sessions. Money flow remains solid and well ahead of the price movement. This is a nice test of the breakout over the 200 day MVA, and we look for a move up on volume from here.
Volume: 560.2K Avg Volume: 691.318K
BUY POINT: $8.65 Volume=1M Target=$10.38 Stop=$7.88
POSITION: PKI IU - Sept. $7.50c (67 delta, low OI) &/or Stock
http://www.investmenthouse.com/ct/pki.html
Play Date: 02/26/2003
SBL (Symbol Technologies--$10.2; +0.03; optionable): Computer peripherals
http://biz.yahoo.com/p/s/sbl.html
STATUS: Testing the breakout. Trying to get over 11, continuing to test the earlier strong volume move. it is holding on the 10 day MVA (10.17), showing a loose doji as it tests on lower, below average volume. Strong accumulation and money flow and solid accumulation at 3 up weeks on rising volume to 1 down week on rising volume. Need to see a strong move on volume.
Volume: 1.119M Avg Volume: 1.329M
BUY POINT: New: $10.65 (orig. $10.45). Volume=2M Target=$12.25 Stop=$9.72
POSITION: SBL GB - July $10c (59 delta, low OI) and/or Stock
http://www.investmenthouse.com/ct/sbl.html
Play Date: 02/27/2003
SLAB (Silicon Labs--$26.86; +0.34; optionable): Semiconductor
http://biz.yahoo.com/p/s/slab.html
STATUS: Cup w/handle. Still working on a 2-week handle on low, below average volume as it works to breakout of the 3-month base. Solid accumulation at 3 up weeks on rising volume to 0 down weeks on rising volume. Strong relative strength and watching closely for a breakout.
Volume: 590.272K Avg Volume: 1.091M
BUY POINT: $26.94 Volume=1.7M Target=$31.28 Stop=$25.05
POSITION: QFJ GE - July $25c (62 delta) &/or Stock
http://www.investmenthouse.com/ct/slab.html
Play Date: 03/01/2003
SSYS (Stratasys--$11.34; -0.05; no options): Computer peripherals
http://biz.yahoo.com/p/s/ssys.html
STATUS: Cup w/handle. Has held the 10 day MVA on the low the past two sessions (11), rebounding well to continue to hold the handle as volume backs off. Very good action in the 2-month base that is showing solid accumulation at 2 up weeks on rising volume to 0 down weeks on rising volume. Excellent money flow and relative strength, and we are looking for a nice breakout from this excellent pattern.
Volume: 70.022K Avg Volume: 63.727K
BUY POINT: $11.64 Volume=110K Target=$13.97 Stop=$10.62
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/ssys.html
Downside:
Play Date: 02/13/2003
EXC (Exelon--$49.12; +0.72; optionable): Utilities
http://biz.yahoo.com/p/e/exc.html
STATUS: Put. After a strong down session on volume Tuesday, EXC has made a lower, below average volume bounce up to test the 10 day MVA on the high (49.19). EXC is in a strong downtrend, and this looks just like a low volume move up with the general market, and is prone to fall back.
Volume: 1.04M Avg Volume: 1.27M
BUY POINT: New: $48.96 (orig $49.65) Volume=1.5M Target=$45.55 Stop=$50.85
POSITION: EXC PJ - April $50p (-56 delta)
http://www.investmenthouse.com/ct/exc.html
End part 2 of 3
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