stock recommendation, stock option

Begin Part 2 of 2

Economic Calendar

3-03-03
Personal income, January (8:30): 0.3% actual, 0.4% expected, 0.3% prior (revised from 0.4%).
Personal spending, January (8:30): -0.1% actual, 0.2% expected, 1.0% prior, (revised from 0.9%).
ISM, February (10:00): 50.5 actual, 52.0 expected, 53.9 prior.
Construction spending, January (10:00): 1.7% actual, 0.4% expected, 1.5% December (revised from 1.2%).

3-05-03
ISM services, February (10:00): 53.9 actual, 53.0 expected, 54.5 January.
Fed Beige Book (2:00): Geopolitical issues keeping consumers and investors from spending, blah, blah, blah. Broken record.

3-06-03
Initial jobless claims (8:30): 430K actual, 403k expected, 418k prior.
Productivity, Q4 revised (8:30): 0.8% actual, 0.2% expected, -0.2% prior.
Factory orders, January (10:00): 2.1% actual, 1.8% expected, 0.3% December (revised from 0.3%).

3-07-03
Nonfarm payrolls, February (8:30): 20K expected, 143K January.
Unemployment rate, February (8:30): 5.8% expected, 5.7% prior.

SUBSCRIBER QUESTIONS

Q: Don't you believe Powell will advise the UN to get the inspectors out before
the start? That will start the real countdown.

Q: Must agree with you that Powell packed his speech today (3/5/03) with language that signaled the end of rhetoric and the start of hostilities. What puzzles me, however, is that (up to this moment) there has been no indication that the inspectors are about to leave Iraq! If, after the upcoming Blix report, the Security Council rejects U.S. urging to act, will the U.S. advise the inspectors to get out of Dodge FAST, or do you think it likely the war will begin prior to their departure?

A: Absolutely the inspectors will be told to get out first. Last war there was a problem with that. We talked with a contact in Moscow Tuesday and heard that Russia was pulling back its personnel. That was confirmed today on FoxNews. The word is Powell is telling allies to get that ball rolling, and we hear that Blix will be advised after his UN presentation to have inspectors ready to leave quickly. Some are already out of country on the pre-text of helping prepare for the UN address. That is what we hear from sources, and it is not official, but they are usually quite reliable.

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THE PLAYS

Good moves: BLTI; CGNX; IMCL; QLGC

New Plays:

Upside:

Play Date: 03/06/2003
ELAB (Eon Labs--$23.2; +1.11; no options): Drug manufacturers
http://biz.yahoo.com/p/e/elab.html
STATUS: Reverse head and shoulders. No question that the market is defensive, and when defensive drug and medical stocks perform better. Not necessarily the big behemoths (e.g., LLY), but some of the more nimble, new names. ELAB was a new issue in May, definitely a newer name. It is moving in a 5.5 month base with accumulation at 4 up weeks on rising volume to 1 down week on rising volume. Solid accumulation and relative strength is breaking out (it has held up and was up on a down market day). Solid move Thursday on an excellent volume session.
Volume: 317.83K Avg Volume: 176.909K
BUY POINT: $24.06 Volume=325K Target=$28.88 Stop=$22.38
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/elab.html

CONTINUING PLAYS:

Upside:

Play Date: 02/04/2003
CGNX (Cognex--$22.71; +0.81; optionable): Scientific & technical instruments
http://biz.yahoo.com/p/c/cgnx.html
STATUS: Ascending triangle. The test lower in the pattern earlier in the week looked to be a final shakeout. CGNX tested the 50 day MVA Wednesday and Thursday and rebounded on very solid volume. Looks ready for the breakout. Very nice.
Volume: 651.314K Avg Volume: 338.727K
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: 03/05/2003
EXPE (Expedia--$70.31; +0.76; optionable): Internet travel
http://biz.yahoo.com/p/e/expe.html
STATUS: Pre-split. Moving laterally still at 70 as it consolidates the strong February move up. It started over 70 Thursday on rising though still below average volume. Not a bad move, and we are looking for EXPE to continue the move; it was up as the market was down. It is that kind of stock.
Volume: 1.613M Avg Volume: 2.044M
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--$16.22; -0.11; no options): Application software
http://biz.yahoo.com/p/g/gsof.html
STATUS: Cup w/handle. Still working and improving on a very good handle to its 8-week base, backing down toward the 10 day MVA (15.73) as it does. Money flow is outstanding, and it is just waiting for the trigger to send it higher.
Volume: 51.361K Avg Volume: 108.954K
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--$23.05; -0.05; optionable): Semiconductor integrated circuit
http://biz.yahoo.com/p/i/icst.html
STATUS: Cup w/handle. Very, very nice pullback to the 10 day MVA (22.78), forming a nice handle. It showed a doji on the 10 day MVA as volume spiked higher Thursday. The volume spike with a doji on the 10 day MVA indicates it is ready to move up with some force. Solid accumulation at 4 up weeks on rising volume to 2 down weeks on rising volume.
Volume: 2.737M Avg Volume: 1.518M
BUY POINT: New: $24.05 (orig. $23.31) Volume=2M Target=$27 Stop=$21.68
POSITION: IUY GX - July $22.50c (60 delta, low OI) &/or Stock
http://www.investmenthouse.com/ct/icst.html

Play Date: 03/01/2003
SSYS (Stratasys--$11.22; -0.12; no options): Computer peripherals
http://biz.yahoo.com/p/s/ssys.html
STATUS: Cup w/handle. SSYS is also forming a very nice handle this week, moving back toward the 10 day MVA (10.98) on lower volume. This is a very nice 8-week base sporting strong accumulation and outstanding money flow. As with several strong patterns, it is just waiting for a trigger to send it higher.
Volume: 11.572K Avg Volume: 64.454K
BUY POINT: $11.64 Volume=110K Target=$13.97 Stop=$10.62
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/ssys.html

WATCHLIST/ CONTINUING:

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

ADI 02/24 Test BO 27.25 -0.59 29.25 33.45 3.2M 3.5M 27.25
Current.

AFFX 02/08 Cup hdl 25.86 +0.41 26.55 30.55 987K 1.5M 24.69
Buy Not Issued.

AIG 02/20 Put 47.72 -1.25 49.48 46 5.3M 6M 51.25
Buy Not Issued.

AMGN 01/22 A Wedge 55.4 +0.07 53.12 62 13M 20M 52.68
Current.

APOL 02/18 A Wedge 45.78 +0.1 46.25 52.88 1.4M 22M 43.35
Current.

APSG 12/28 Cup hdl 13 -0.03 13.25 15.55 66K 85K 12.04
Current.

ASKJ 12/26 Cup hdl 5.59 -0.83 2.89 8 3.7M 305K 6.08
Exited.

BLTI 02/10 Test BO 7.69 +0.39 7.2 9.15 560K 300K 6.96
Current.

BMC 02/19 Cup hdl 18.33 -0.24 19.29 23.15 2.9M 2.5M 18.15
Current.

CCU 02/24 Put 33.87 -0.84 35.77 31.75 3.5M 4.8M 37.15
Buy Not Issued.

CGNX 02/04 DB hdl 22.71 +0.81 23.09 26.88 651K 525K 21.47
Buy Not Issued.

CKFR 01/28 Cup hdl 20.36 -0.38 20.85 25 1.1M 2M 18.94
Buy Not Issued.

CNCT 03/03 Test BO 14.38 +0.08 14.88 17.88 153K 210K 13.84
Buy Not Hit.

CVD 12/21 Cup hdl 21.79 -0.08 24.75 29.74 511K 581K 24.25
Current.

CVD 11/05 Test BO 21.79 -0.08 23.65 28 511K 581K 24.88
Current.

CY 03/04 Flat 5.99 +0.01 6.53 8.55 1.2M 2.3M 6.07
Buy Not Hit.

DISH 03/01 A Wedge 29.05 +0.29 27.05 31.12 4.9M 4.8M 25.16
Buy Not Issued.

ELAB 03/06 Cup hdl 23.2 +1.11 24.06 28.88 318K 325K 22.38
New.

EXC 02/13 Put 49.44 +0.32 49.65 45.55 964K 1.5M 50.85
Buy Not Issued.

EXPE 03/05 Cup 70.31 +0.76 70.55 78 1.6M 2.5M 66.55
Buy Not Hit.

GRMN 11/06 Cup hdl 32.34 +0.26 22.34 34 220K 198K 31.88
Current.

GSOF 03/05 Cup hdl 16.22 -0.11 17.05 20.55 51K 164K 15.86
Buy Not Hit.

HPQ 03/01 Put 15.55 -0.01 15.62 13 9.5M 14M 16.32
Buy Not Hit.

ICST 03/05 DB hdl 23.05 -0.05 23.65 27 2.7M 2M 21.99
Buy Not Issued.

IDCC 02/25 Test 50 13.96 -0.11 14.62 17.94 195K 850K 13.58
Buy Not Hit.

IMCL 03/01 Test BO 16.58 +1.31 14.6 16.72 6.1M 2M 12.97
Current.

IRM 02/24 DB hdl 34.74 -0.12 34.75 39.55 227K 389K 32.32
Current.

JDEC 02/22 Put 11.23 -0.26 11.6 9 691K 1.5M 12.18
Buy Not Issued.

LGTO 02/22 A Wedge 5.97 +0.07 6.42 8.25 2.2M 2M 5.88
Buy Not Hit.

MDCO 01/10 Cup hdl 18.32 +0.22 17.35 20.85 264K 800K 17.55
Current.

MEDI 02/27 A Wedge 30.25 +0.23 30.25 34.84 3.2M 6M 28.13
Current.

MSN 12/04 Cup hdl 7.15 -0.07 4.85 7.65 245K 150K 5.94
Current.

MSN 11/23 Cup hdl 7.15 -0.07 4.15 7.65 245K 150K 5.94
Current.

MVL 03/03 BO 12.46 +0.27 11.82 14.25 778K 675K 10.74
Current.

NATI 02/15 Test 50 33.46 -0.17 34.05 39 146K 425K 32.45
Current.

NFLX 01/25 Test BO 16.3 +0.15 14.3 17.96 238K 503K 14.35
Current.

NSCN 12/22 Pennant 19.14 -0.07 17.24 21.24 2.5M 1.8M 18.75
Current.

OSTK 02/22 Test BO 14.47 -0.13 17.15 20.45 114K 275K 16.65
Current.

PKI 03/04 Test BO 8.17 -0.1 8.65 10.38 578K 1M 7.88
Buy Not Hit.

PNRA 02/12 Put 26.16 -0.33 27.48 24 594K 1.2M 29
Buy Not Issued.

POWI 02/22 Cup hdl 20.45 -0.28 23.05 27.74 210K 750K 21.28
Buy Not Issued.

PRX 02/08 BO 37.96 -0.29 34.65 40.45 330K 435K 34.15

QCOM 12/04 Test 18 34.98 -0.51 40.85 50 13M 18M 37
Current.

QCOM 11/07 Test BO 34.98 -0.51 34.78 42 13M 18M 37
Current.

QLGC 11/07 Test BO 36.24 +0.86 41.4 50 9.1M 25M 39.88

RNR 03/03 Put 37.01 -0.11 36.96 33.85 321K 435K 38.05
Buy Not Hit.

SBL 02/26 Test BO 10.25 +0.05 10.45 12.25 1.1M 2M 9.72
Current.

SLAB 02/27 Cup hdl 27.58 +0.72 26.94 31.28 615K 1.7M 25.05
Buy Not Issued.

SSYS 03/01 Cup hdl 11.22 -0.12 11.64 13.97 12K 110K 10.62
Buy Not Issued.

STK 02/19 Cup hdl 22.65 -0.4 24.65 28.45 742K 1M 23.05
Buy Not Hit.

TRMB 03/03 BO 16.86 -0.54 17.75 21.28 169K 272K 16.44
Buy Not Hit.

VRTY 02/18 Cup hdl 16.25 0 16.6 19.94 482K 500K 15.55
Current.

YHOO 12/11 Test 50 19.44 -0.46 17.32 22.75 10M 20M 19.05
Current.

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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