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stock split, stock research
Begin part 2 of 3
THE PLAYS
Good moves: Many, many
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: 03/13/2003
MXIM (Maxim Integrated--$38.21; +3.76; optionable): Semiconductor
http://biz.yahoo.com/p/m/mxim.html
STATUS: Breakout. MXIM broke above the April/December 2002 Thursday along with the 200 day MVA (34.27) on a massive volume burst. MXIM had moved laterally the past four weeks as the market sold off, holding over the 50 day MVA just below 34. It was a massive blast off, but MXIM also has a nice open space to run ahead of it. Accumulation since December is 3 up weeks on rising volume to 0 down weeks on rising volume. Looking to pick it up on a further move, but we may see some pullback before it does. We will use any weakness that turns back up as a point to start positions.
Volume: 17.299M Avg Volume: 8M
BUY POINT: $38.55 Volume=10M Target=$44.55 Stop=$35.85
POSITION: XIQ EG - May $35c (72 delta) &/or Stock
http://www.investmenthouse.com/cs/mxim.html
Play Date: 03/13/2003
SBUX (Starbucks--$24.06; +1.56; optionable): High priced coffee
http://biz.yahoo.com/p/s/sbux.html
STATUS: Cup w/handle. SBUX is working through a 4.5 month base, and this is not the first time we have looked at it. It was a bit wild, reaching down to the 50 day MVA (22.33) Tuesday and Wednesday before blasting higher on solid, above average volume Thursday. The economy is weak, but people are addicted to their Starbucks. Solid accumulation at 6 up weeks on rising volume to 0 down weeks on rising volume. Relative strength breakout and super money flow.
Volume: 6.027M Avg Volume: 3.549M
BUY POINT: $24.22 Volume=5M Target=$29 Stop=$22.52
POSITION: SQX GX - July $22.50c (64 delta) &/or Stock
http://www.investmenthouse.com/cs/sbux.html
CONTINUING LEADER PLAYS
Upside:
AMZN blasted higher.
Play Date: 03/04/2003
ADVP (AdvancePCS--$28.63; +0.83; optionable): Health services
http://biz.yahoo.com/p/a/advp.html
STATUS: Cup w/handle. ADVP hit the buy point late in the session, following the Tuesday tap at the 50 day MVA (27) with another solid volume rebound. Solid accumulation and money flow, and ADVP looks ready to continue its steady move.
Volume: 1.866M Avg Volume: 1.186M
BUY POINT: New: $28.88 (orig. $28.55). Volume=1.8M Target=$32.84 Stop=$26.55
POSITION: QVD FY - June $27.50c (57 delta) and/or Stock
http://www.investmenthouse.com/cs/advp.html
Play Date: 02/13/2003
AVCT (Avocent--$28.98; +1.59; optionable): Computer peripherals
http://biz.yahoo.com/p/a/avct.html
STATUS: Testing the breakout. AVCT tested the 50 day MVA at 26 early in the week, then shot higher Thursday on a huge volume dose. Excellent accumulation and money flow with a relative strength breakout. Still within the buy range.
Volume: 2.977M Avg Volume: 503.454K
BUY POINT: New: $29.08 (orig. $28.45) Volume=725K Target=$31.15 Stop=$26.46
POSITION: QVX HE - Aug. $25c (63 delta) and/or Stock
http://www.investmenthouse.com/cs/avct.html
Play Date: 02/04/2003
CGNX (Cognex--$22.59; +0.54; optionable): Scientific & technical instruments
http://biz.yahoo.com/p/c/cgnx.html
STATUS: Ascending triangle. Still coming off the Wednesday 50 day MVA test, more volume came into CGNX Thursday (average). Still looking solid in the base and we are awaiting the breakout.
Volume: 404.618K Avg Volume: 349.045K
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--$24; +0.39; no options): Drug manufacturers
http://biz.yahoo.com/p/e/elab.html
STATUS: Reverse head and shoulders. Tried the breakout Thursday, racing up to 24.99 on the high but then giving it almost all back. Super volume surge, but could not hold the breakout. Never like the reversals on breakout attempts, but it is still in a nice pattern and we will be patient again. This is one where looking at the stock intraday and allowing it the chance to hold the breakout paid off. We will wait again. Strong accumulation at 4 up weeks on rising volume to 1 down week on rising volume. A new issue back in May.
Volume: 539.071K Avg Volume: 182.954K
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: 03/05/2003
ICST (Integrated Circuit System--$23.91; +1.59; optionable): Integrated semiconductor circuits
http://biz.yahoo.com/p/i/icst.html
STATUS: Double bottom w/handle. Working through a 4-month base that shows solid accumulation and money flow. Wednesday it tested the 50 day MVA on the low (21.60) and shot higher Thursday in the general market rally. Volume did not jump up as we wanted, however, holding below average. What we want to see is volume shoot higher on a move through the buy point.
Volume: 1.222M Avg Volume: 1.534M
BUY POINT: New: $24.06 (orig. $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/cs/icst.html
Play Date: 03/01/2003
IMCL (Imclone--$15.19; +0.32; optionable): Biotechnology
http://biz.yahoo.com/p/i/imcl.html
STATUS: Testing the breakout. Still in the breakout test, IMCL was up fractionally Thursday as the medical and biotech stocks took a back seat. Still a very nice blast higher and subsequent test. Again, this is where it needs to hold and start back up here.
Volume: 1.313M Avg Volume: 1.684M
BUY POINT: New: $15.55 (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: 03/05/2003
MACR (Macromedia--$14.79; +0.75; optionable): Graphics software
http://biz.yahoo.com/p/m/macr.html
STATUS: Test 50 day MVA. After a nice doji on the 50 day MVA (14) Wednesday, MACR was up Thursday on rising, above average volume. It managed to clear the 18 day MVA on the close, the original point we started looking at the play. The 50 day MVA test with a doji on that level makes it even more interesting.
Volume: 892.955K Avg Volume: 726.5K
BUY POINT: $15.35 Volume=800K Target=$18 Stop=$14.28
POSITION: MRQ HC - Aug. $15c (60 delta, 80 OI) &/or Stock
http://www.investmenthouse.com/cs/macr.html
Play Date: 01/04/2003
STN (Station Casinos--$19.48; +0.49; optionable): Resorts and casinos
http://biz.yahoo.com/p/s/stn.html
STATUS: Testing the breakout. STN exploded higher a week back, has tested the move down to the 10 day MVA (18.75), and then started back up Thursday on rising, average volume. A nice breakout from the 4-month flat base, and we will look at picking it up on a further move higher.
Volume: 446.1K Avg Volume: 365.818K
BUY POINT: New: $19.58 (orig. $19.05) Volume=600K Target=$22.86 Stop=$17.72
POSITION: STN GW - July $17.50c (72 delta) and/or Stock
http://www.investmenthouse.com/cs/stn.html
Play Date: 02/22/2003
WFR (Memc Electronic--$9.50; +0.35; no options): Integrated semiconductor circuits
http://biz.yahoo.com/p/w/wfr.html
STATUS: Cup w/handle. WFR was moving with the market Thursday but we wanted to see some more volume. Still a very nice pattern and move, and we are looking to pick it up on a further advance.
Volume: 197.4K Avg Volume: 123.181K
BUY POINT: New: $9.65 (orig. $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:
BSX (Boston Scientific--$44.05; +2.55; optionable): Forecast to announce a split on 5-6-03 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 8-27-98 at a stock price of $40. The annual shareholder meeting was on 5-7-02. The company has sufficient shares for a 2 for 1 split.
http://biz.yahoo.com/p/b/bsx.html
STATUS: Cup. BSX rallied sharply October to January, continuing a winning last 2 years. It has now based out for the past 2 months. A solid move up off of the 50 day MVA at 42, BSX showed great volume. BSX was on our list earlier, but ran into trouble and started this base. We are going to look at some aggressive positions on a move over the February high.
Volume: 3.561M Avg Volume: 2.237M
BUY POINT: $44.55 Volume=3.4M Target=$50.55 Stop=$41.65
POSITION: BSX HV - Aug. $42.50c (62 delta) &/or Stock
http://www.investmenthouse.com/cs/bsx.html
IGT (International Game Technology--$78.98; +3.15; optionable): Forecast to announce a split on 4-23-03 during the market in conjunction with earnings.
BACKGROUND: Based upon our research it does not appear that IGT has ever split its stock. The annual shareholder meeting was on 3-4-02 at which time no additional shares were authorized. The company has sufficient shares for a 2 for 1 split.
http://biz.yahoo.com/p/i/igt.html
STATUS: Rolling. IGT is working through a 3.5 month base, blasting off the bottom of the range at 75 Thursday on rising though still below average volume. IGT bucked the market, working on this base while the market sold off. We are looking for a breakout from this base to take positions for the play.
Volume: 1.146M Avg Volume: 1.051M
BUY POINT: $80.06 Volume=1.2M Target=$88 Stop=$77.74
POSITION: IGT GO - July $75c (63 delta) &/or Stock
http://www.investmenthouse.com/cs/igt.html
Continued:
Play Date: 02/15/2003
CECO (Career Education--$47.54; +1.33; 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. Still in the handle to its 3.5 month base, CECO is not getting the push to make the breakout yet. Volume was up Thursday on the rally, but still below average. Just have to be patient with this one as Thursday was the day of techs and large caps.
Volume: 605.375K Avg Volume: 701.318K
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--$82.91; +3.85; 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. Tested lower Wednesday and recovered, then was blasting higher Thursday on outstanding volume. That was just what we wanted and we were quick to jump on to open the play. A good start to the play.
Volume: 10.558M Avg Volume: 5.198M
BUY POINT: No new positions now until get a test back (orig. $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--$43.55; +0.17; 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 very nice in the pattern, showing a doji on the 10 day MVA but not participating in the rally. Looks very solid, however. Again, this was a day for techs and big names. Others in good patterns will go soon. Outstanding 6 to 0 accumulation in the base.
Volume: 207.4K Avg Volume: 231.818K
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: 03/11/2003
SYK (Stryker--$66.5; +1.69; 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. Started up off the 50 day MVA test in its 2.5 month base. Volume was not outstanding, coming in lower and below average as it moved sharply higher. Solid accumulation at 2 up weeks on rising volume to 0 down weeks on rising volume. Money flow continues to shoot higher ahead of price. Need to see more volume.
Volume: 689.3K Avg Volume: 680.363K
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
Play Date: 02/25/2003
TTC (Toro--$68.95; +0.96; 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. Still testing the breakout, TTC started higher Thursday off of the tight dojis on the 10 day MVA at 68. Volume was not up, however. TTC is still very solid in its base and we are looking for it to continue the move higher with a volume move.
Volume: 67.5K Avg Volume: 90.863K
BUY POINT: New: $69.55 (orig. $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--$20.5; +0.6; optionable): Drug manufacturer
http://biz.yahoo.com/p/a/anpi.html
STATUS: Breakout. ANPI shot higher Thursday off of its three doji's that tested the 10 day MVA at 19.85, but after hitting 22 on a huge move it gave back nearly all of the gain. Volume was solidly higher, comingin well above average. We will look for it to regroup and continue the move.
Volume: 284.653K Avg Volume: 109.227K
BUY POINT: $20.74 Volume=156K Target=$24 Stop=$19.88
POSITION: AUJ FD - June $20c (55 delta) &/or Stock
http://www.investmenthouse.com/cs/anpi.html
Play Date: 01/27/2003
BRL (Barr Labs--$74.55; +0.67; optionable): Generic drugs
http://biz.yahoo.com/p/b/brl.html
STATUS: Testing the 50 day MVA. BRL tapped at 72.50 again on the low and rallied up to close just below the 18 day MVA (74.95) as volume moved up but was still below average. Looks ready to try its pre-split move, and we will look for positions over the 18 day MVA on continued strong volume.
Volume: 583.1K Avg Volume: 636.909K
BUY POINT: $75.05 Volume=875K Target=$82 Stop=$72.34
POSITION: BRL EO - May $75c (66 delta) and/or Stock
http://www.investmenthouse.com/cs/brl.html
POST-SPLIT PLAYS:
EXPE exploded higher.
Play Date: 02/24/2003
EXPD (Expeditors Intl.--$34.25; +0.83; optionable): Air delivery
http://biz.yahoo.com/p/e/expd.html
STATUS: Cup w/handle. EXPD used the selling to form the handle, using the 50 day MVA (32.85) on the low Wednesday as the push off point. Thursday EXPD was up on smart, above average volume, closing right at the buy point. Aggressive from here. Breakout is over 34.80.
Volume: 1.313M Avg Volume: 819.136K
BUY POINT: Aggressive: $34.25. Breakout: 34.85 Volume=1.1M Target=$39.49 Stop=$33.15
POSITION: URP HG - Aug. $35c (45 delta) and/or Stock
http://www.investmenthouse.com/cs/expd.html
Play Date: 03/04/2003
GSOF (Group 1 Software--$16.57; +0.32; no options): Application software
http://biz.yahoo.com/p/g/gsof.html
STATUS: Cup w/handle. Volume shot up on Thursday as GSOF edged higher in the handle to its 2.5 month base. Very solid, and it looks to be straining at the bit to make the breakout.
Volume: 211.702K Avg Volume: 104K
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--$39.76; +0.97; optionable): Internet education
http://biz.yahoo.com/p/u/uopx.html
STATUS: Cup w/handle. UOPX finally got some volume though it was not huge, coming in just above average. It is now right at the January highs after a nice though low volume run up the 10 day MVA (now at 38). The best action would be to form a handle here to test back to 38 and then blast higher no volume. UOPX can run well, however, so on a breakout over 40 we will look at adding positions. Accumulation at 2 up weeks on rising volume to 0 down weeks on rising volume. Earnings are released on 3-25.
Volume: 221.187K Avg Volume: 205.09K
BUY POINT: New: $40.05 (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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stock split
stock research
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