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trade stock, stock split
Begin Part 2 of 3
THE PLAYS
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: Additional plays can be found in Pre-Announcements, Pre-Splits, and Post-Splits.
Upside:
Play Date: 03/11/2003
IMDC (Inamed--$33.35; -0.01; optionable): Medical appliances
http://biz.yahoo.com/p/i/imdc.html
STATUS: Testing the breakout. IMDC is in that defensive medical sector, and it broke out of a 11-week cup base in late February, rallied some, and is now coming back to test the move on lower volume. Tuesday IMDC showed a hammer doji above the 10 day MVA (32.75), showing some slightly rising, above average volume as it did. Solid accumulation during the base at 4 up weeks on rising volume to 0 down weeks on rising volume. Excellent money flow and a relative strength breakout. Looks solid.
Volume: 167.71K Avg Volume: 166K
BUY POINT: $34.06 Volume=249K Target=$39.75 Stop=$31.68
POSITION: UZI GF - July $30c (70 delta, low OI) &/or Stock
http://www.investmenthouse.com/cs/imdc.html
Play Date: 03/11/2003
ZQK (Quicksilver--$28.23; +0.61; optionable): Clothing
http://biz.yahoo.com/p/z/zqk.html
STATUS: Cup. Moving through a 3.5 month base that is showing outstanding accumulation at 6 up weeks on rising volume to 1 down week on rising volume. On top of that the price/volume action the past few weeks has been excellent with volume swelling as it prepared for the move up. Volume shot back up Tuesday on strong volume, but it stalled out and gave back 50 cents off the high. That indicates that ZQK may work laterally to form a handle here before giving a strong breakout over the December and January highs.
Volume: 491K Avg Volume: 213.545K
BUY POINT: $28.55 Volume=320K Target=$32.85 Stop=$26.55
POSITION: ZQK HE - Aug. $25c (73 delta, low OI) &/or Stock
http://www.investmenthouse.com/cs/zqk.html
Downside:
Play Date: 03/11/2003
ESI (ITT Educational--$23.9; -0.95; optionable): Education & training
http://biz.yahoo.com/p/e/esi.html
STATUS: Put. We were looking at this as an upside play a week back, but when the market gives you lemons, make lemonade. ESI broke through the 50 day MVA (25.94) Monday, and started diving Tuesday on sharply higher volume. A lot of downside momentum that we are looking to capitalize on and ride down to the 200 day MVA (21.62).
Volume: 833.2K Avg Volume: 394.454K
BUY POINT: $23.77 Volume=400K Target=$21.65 Stop=$25.15
POSITION: ESI PE - Apr. $25p (-60 delta)
http://www.investmenthouse.com/cs/esi.html
CONTINUING LEADER PLAYS
Upside:
Play Date: 01/09/2003
AMZN (Amazon.com--$22.78; -0.1; optionable): Internet sales
http://biz.yahoo.com/p/a/amzn.html
STATUS: Saucer. Working in a 3.5 month base and is now moving laterally just below 23 on below average volume. Very nice lateral move shaping up, and we are looking for a strong move over 23 (i.e., strong volume) to get into some more positions. AMZN has held up remarkably well in this market.
Volume: 4.049M Avg Volume: 6.35M
BUY POINT: New: $23.12 (orig. $22.72) Volume=13M Target=$27.25 Stop=$20.75
POSITION: ZQN DO - April $17.50c (74 delta) and/or Stock
http://www.investmenthouse.com/cs/amzn.html
Play Date: 02/15/2003
ARRO (Arrow Intl.--$41.6; +0.08; optionable): Medical instruments
http://biz.yahoo.com/p/a/arro.html
STATUS: Ascending triangle. ARRO is moving up to the top of its 2.5 month base, showing some rising volume though not a huge swell. Trade reached above average levels Tuesday, however, as ARRO attracts more interest in a more defensive market. Money flow remains ahead of price and is moving higher. With this type of divergence, the idea is that price will follow. Very tight base with relative strenght already breaking out ahead of price.
Volume: 32.816K Avg Volume: 30.59K
BUY POINT: $42.12 Volume=55K Target=$48.42 Stop=$39.65
POSITION: QRO HH - Aug. $40c (64 delta, low OI) and/or Stock
http://www.investmenthouse.com/cs/arro.html
Play Date: 02/04/2003
CGNX (Cognex--$22; -0.39; optionable): Scientific & technical instruments
http://biz.yahoo.com/p/c/cgnx.html
STATUS: Ascending triangle. Still working in the 3.5 month base. It was close to the breakout last week on very strong volume, but then fading back on lower volume this week. It held the 18 day MVA on the Tuesday low. We want it to turn back up ahead of 21 (even higher) and then deliver the breakout. Money flow is shooting up ahead of the stock price.
Volume: 271.434K Avg Volume: 352.136K
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/cs/cgnx.html
Play Date: 03/06/2003
ELAB (Eon Labs--$23.52; +0.04; no options): Drug manufacturers
http://biz.yahoo.com/p/e/elab.html
STATUS: Reverse head and shoulders. Nice surge at the end of last week on very solid volume. Ran into some trouble Monday, but volume fell way off pace as it did; ELAB still held up just fine on the session, however. Tuesday volume was back up and slightly above average as ELAB showed a very tight doji on the candlestick pattern. All that goes to show is that it held up well in the market action and is still in the pattern that shows strong accumulation at 4 up weeks on rising volume to 1 down week on rising volume. A new issue back in May, ELAB looks ready for an all-time high.
Volume: 204.5K Avg Volume: 187.181K
BUY POINT: $24.06 Volume=325K Target=$28.88 Stop=$22.38
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cs/elab.html
Play Date: 03/01/2003
IMCL (Imclone--$14.82; -0.43; optionable): Biotechnology
http://biz.yahoo.com/p/i/imcl.html
STATUS: Testing the breakout. IMCL blasted higher last week and has since pulled back. It was at the target at that point and we decided to let the momentum run. Well, it ran its course and is now back in a full breakout test. It has been a good test as volume has backed off and the move has been orderly back to the 10 day MVA on the Tuesday low (14.70). This is where it needs to hold and start back up here.
Volume: 1.787M Avg Volume: 1.681M
BUY POINT: New: $15.06 (orig. $14.60). Volume=2M Target=$16.72 Stop=$14.05
POSITION: QCI HV - Aug. $12.50c (65 delta) &/or Stock
http://www.investmenthouse.com/cs/imcl.html
Play Date: 02/22/2003
LGTO (Legato Systems--$5.84; +0.08; optionable): Application software
http://biz.yahoo.com/p/l/lgto.html
STATUS: Ascending triangle. Holding the pattern as it holds the 50 day MVA (5.66) on the Tuesday low. Volume jumped up above average on the move. It has hung in there during the selling as money flow has moved up ahead of the price.
Volume: 2.141M Avg Volume: 1.519M
BUY POINT: $6.42 Volume=2M Target=$8.25 Stop=$5.88
POSITION: EQN IR - Sept. $5c (76 delta, low OI) or EQN FR - June $5c (78 delta) &/or Stock
http://www.investmenthouse.com/cs/lgto.html
Play Date: 02/22/2003
WFR (Memc Electronic--$9.09; +0.43; no options): Semiconductor, integrated circuits
http://biz.yahoo.com/p/w/wfr.html
STATUS: Flat/Cup w/handle. WFR formed a quick handle the past week and started moving back up Tuesday after a quick run down to the 18 day MVA (8.79). Not bad action in a down market. Need to see strong volume on a strong breakout.
Volume: 97.2K Avg Volume: 129.045K
BUY POINT: $9.35 Volume=217K Target=$11.25 Stop=$8.59
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cs/wfr.html
PRE-ANNOUNCEMENT PLAYS
New:
Play Date: 03/11/2003
SYK (Stryker--$64.92; -0.48; optionable): Medical instruments. Working on a date for SYK
BACKGROUND: Last split 2:1 5/15/2000. Price at the time of announcement was $60.
http://biz.yahoo.com/p/s/syk.html
STATUS: Cup. SYK is working on a 2.5 month base showing solid accumulation at 2 up weeks on rising volume to 0 down weeks on rising volume. It has formed a quick, short handle this week on below average volume. SYK is in the right sector, and it can run well. Money flow is solid, leading the price higher.
Volume: 568.4K Avg Volume: 679.409K
BUY POINT: $65.55 Volume=800K Target=$73.75 Stop=$63.94
POSITION: SYK IM - Sept. $65c (55 delta) &/or Stock
http://www.investmenthouse.com/cs/syk.html
Continued:
Play Date: 02/15/2003
CECO (Career Education--$46.68; -0.18; optionable): Education and training. Forecast to announce a split on 4-8-03 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 4-31-01 in conjunction with earnings. The stock price was $61. The annual shareholder meeting was on 5-11-02 at which time authorized shares were increased. The company has sufficient shares for a 2 for 1 split.
http://biz.yahoo.com/p/c/ceco.html
STATUS: Cup w/handle. Working in the 1.5 month handle to its 3.5 month base. Still looks very solid in the handle with solid price/volume action. Held the 18 day MVA (46.30), still in the pattern. Still looks ready to make the move higher, just need to see the breakout.
Volume: 496.7K Avg Volume: 713.272K
BUY POINT: $48.07 Volume=1.4M Target=$54 Stop=$45.74
POSITION: CUY TI - July $45c (58 delta, low OI) and/or Stock
http://www.investmenthouse.com/cs/ceco.html
Play Date: 03/08/2003
EBAY (Ebay--$78.87; -0.59; optionable): Internet auctions, sales. Forecast to announce a split April 22 after the market close in conjunction with earnings.
BACKGROUND: EBAY announced a 3:1 stock split 1-26-99 and then a 2:1 stock split in April 2000 at a stock price of $140.
http://biz.yahoo.com/p/e/ebay.html
STATUS: New high breakout. Still moving up the 10 day MVA, tapping that on the Tuesday low (78.66) as it gave back some of the gains. For a new entry point we would prefer to see EBAY pullback and test the 18 day MVA at 77.50 or even a bit lower. WE could then catch the bounce on stronger volume. Nonetheless, we are willing to take some positions on a strong, high volume move over 80 and then take more as it comes back to test the move.
Volume: 3.669M Avg Volume: 5.185M
BUY POINT: $80.08 Volume=8M Target=$92 Stop=$77.04
POSITION: QXB GP - July $80c (54 delta) &/or Stock
http://www.investmenthouse.com/cs/ebay.html
Play Date: 02/20/2003
FCN (FTI Consulting--$43.73; -0.22; optionable): Management services. Looking for a split announcement in early May.
BACKGROUND: Last split 2:1 on 1-17-2002.
http://biz.yahoo.com/p/f/fcn.html
STATUS: Ascending triangle. Still working laterally over the 10 day MVA, tapping that level on the Tuesday low (43.50) and rebounding. Volume had remained below average the last week as it continues to hold up well on the back of that 6 to 0 accumulation in the base. It is waiting for a trigger to send it higher.
Volume: 229.9K Avg Volume: 230.772K
BUY POINT: $44.05 (orig. $42.96) Volume=400K Target=$48.38 Stop=$40.15
POSITION: FCN FH - June $40c (66 delta, low OI) &/or Stock
http://www.investmenthouse.com/cs/fcn.html
Play Date: 02/25/2003
TTC (Toro--$67.85; -0.29; optionable): Motorized farm and home tools. Just announced earnings and looking trying to pinpoint a date. Announcements sometimes come after successful earnings reports, and TTC had a good one.
http://biz.yahoo.com/p/t/ttc.html
STATUS: Testing the breakout. Three very tight, quiet sessions, showing doji's that tested the 18 day MVA on the Tuesday low (67.55). Volume spiked higher Tuesday as the stock held tight. Like this quiet action as the market sells. Stronger stock that is looking for a move higher when it gets the trigger. Solid 5 to 1 accumulation in this current 15-week base with continued strong money flow.
Volume: 110.9K Avg Volume: 92.136K
BUY POINT: $68.85 Volume=137K Target=$76.55 Stop=$65.35
POSITION: TTC FM - June $65c (72 delta, low OI) &/or Stock
http://www.investmenthouse.com/cs/ttc.html
PRE-SPLIT PLAYS:
Play Date: 03/08/2003
ANPI (Angiotech Pharmaceutical--$39.82; +0.2; optionable): Drug manufacturer
http://biz.yahoo.com/p/a/anpi.html
STATUS: Breakout. Moving laterally the last two sessions after a strong bounce off the 18 day MVA Friday. Volume edged higher Tuesday as ANPI logged a small gain. Holding up well in a selling market..
Volume: 143.301K Avg Volume: 108.318K
BUY POINT: $40.33 Volume=156K Target=$45.85 Stop=$37.96
POSITION: AUJ FH - April $40c (55 delta) &/or Stock
http://www.investmenthouse.com/cs/anpi.html
Play Date: 03/06/2003
CTSH (Cognizant Technology--$67.48; -0.41; optionable): Business software
http://biz.yahoo.com/p/c/ctsh.html
STATUS: Cup. Did not make the move up after the consolidation at 70, instead falling back for a 50 day MVA test on the lows (66.71). Not the strongest move, but a high volume move off the 50 day MVA would be a good entry point after the strong move up off 55 from the January low.
Volume: 381.03K Avg Volume: 938.409K
BUY POINT: New: 68.50; Next: $70.62 Volume=1M Target=$79 Stop=$67.75
POSITION: UPU GN - July $70c (56 delta) &/or Stock
http://www.investmenthouse.com/cs/ctsh.html
Play Date: 03/01/2003
XTO (XTO Energy--$26; -0.03; optionable): Independent oil and gas
http://biz.yahoo.com/p/x/xto.html
STATUS: Still trying to make the move but unable to hold it (26.44 on the high again). Volume is fine, coming in above average, but the failing near 26.50 is a concern. Want to see it near that level on the close on continued good volume.
Volume: 961.5K Avg Volume: 814.272K
BUY POINT: New: 26.50 on the close (orig. $25.55). Volume=1.2M Target=$29.75 Stop=$24.33
POSITION: XTO EX - May $22.50c (91 delta) &/or Stock
http://www.investmenthouse.com/cs/xto.html
POST-SPLIT PLAYS:
Play Date: 02/22/2003
COO (Cooper Companies--$28.74; +0.31; optionable): Medical instruments
http://biz.yahoo.com/p/c/coo.html
STATUS: Cup w/handle. COO continues to hang in there, still working on the handle to its 3-month base following the November split. Tried to run higher (29.26 on the high) but fell back on below average volume. Still a bit wild but still looks good.
Volume: 365.2K Avg Volume: 510.272K
BUY POINT: Breakout: 29.45 (orig. $28.55) Volume=706K Target=$32.75 Stop=$26.55
POSITION: COO HE - Aug. $25c (79 delta) &/or Stock
http://www.investmenthouse.com/cs/coo.html
Play Date: 02/22/2003
EXPE (Expedia--$33.78; -0.55; optionable): Internet travel
http://biz.yahoo.com/p/e/expe.html
STATUS: Held up on the split and in the selling market, showing a doji right over the 18 day MVA (33.53). Volume spiked on the session, not bad given the doji at that important level. Looking for it to hold here and bounce.
Volume: 4.115M Avg Volume: 2.071M
BUY POINT: $34.35 Volume=2.5M Target=$39 Stop=$31.95
POSITION: UED GZ - July $32.50c (55 delta) and/or Stock
http://www.investmenthouse.com/cs/expe.html
Play Date: 03/04/2003
GSOF (Group 1 Software--$16.1; -0.2; no options): Application software
http://biz.yahoo.com/p/g/gsof.html
STATUS: Cup w/handle. Still in the handle of the 2.5 month base. Action got wild Monday with a test of the 50 day MVA on the low (14.65) and bounced back up. Tried to move Tuesday but fell back as volume moved up and slightly over average. Still solid, just a bit wild. Need to see the breakout on some strong volume.
Volume: 120.819K Avg Volume: 106.954K
BUY POINT: $17.05 Volume=164K Target=$20.55 Stop=$15.86
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cs/gsof.html
Play Date: 03/04/2003
UOPX (University of Phoenix Online--$38.71; +0.72; optionable): Internet education
http://biz.yahoo.com/p/u/uopx.html
STATUS: Cup w/handle. Hit the next buy, but volume was not there, still coming in below average. Need to see some volume kick in on a further move. Want to get in on the move as this stock is capable of nice runs. Accumulation at 2 up weeks on rising volume to 0 down weeks on rising volume. Earnings are released on 3-25.
Volume: 167.038K Avg Volume: 206.045K
BUY POINT: New: $38.88 (orig. $37.96) Volume=300K Target=$43.75 Stop=$35.32
POSITION: UBY FG - June $35c (68 delta) and/or Stock
http://www.investmenthouse.com/cs/uopx.html
End Part 2 of 3
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trade stock
stock split
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