|
|
stock research, stock option
Begin part 2 of 3
THE PLAYS
Good Wednesday movers: HIL; WFII
Tonight we look at the best of the best of the current report plays going for quality as opposed to quantity.
NEW PLAYS:
Play Date: 05/07/2003
ALT (Alteon--$4.23; +0.33; no options): Drug manufacturer
http://biz.yahoo.com/p/a/alt.html
STATUS: Cup w/handle. ALT is in a 16-month base, now working through a 9-week handle. Accumulation in the base is solid at 17 up price weeks on rising volume to 9 down price weeks on rising volume. Money flow is shooting higher ahead of the price as ALT starts what looks to be a breakout move as volume shot higher Wednesday. ALT has definitely put in the time to set the move up, and now we look for the breakout. We are looking to ride it up to the prior high, but if it continues to perform well at that point we will let it move higher.
Volume: 387.6K Avg Volume: 125.628K
BUY POINT: $4.36 Volume=188K Target=$5.45 Stop=$3.97
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/alt.html
Play Date: 05/07/2003
NTN (NTN Communications--$1.84; +0.07; no options): Broadcast TV
http://biz.yahoo.com/p/n/ntn.html
STATUS: Breakout test. NTN formed a 12-month cup with handle base, breaking out early this month. Accumulation in the base is excellent at 15 up weeks on rising volume to 6 down weeks on rising volume. After the recent breakout NTN came back to test the 10 day MVA (1.73) this week as volume backed off. Wednesday NTN started back up on rising, above average volume. Very nice breakout, and on this test money flow continued to move higher. Looks ready to move up on a successful breakout test, a great entry point as it proves up the breakout.
Volume: 169K Avg Volume: 122.186K
BUY POINT: $1.95 Volume=183K Target=$2.75 Stop=$1.74
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/ntn.html
Play Date: 05/07/2003
PENN (Penn National Gaming--$22.21; -0.42; optionable): Gaming machines
http://biz.yahoo.com/p/p/penn.html
STATUS: Testing the breakout. PENN broke out of a 6.5 month base early this month, blasting higher on strong volume. Accumulation in the base is a solid 7 to 5. On the breakout relative strength broke out as well, a good confirmation of the break higher. It has spent this week moving back to test the 10 day MVA (21.35) on lower volume, but volume surged back up as PENN tested the 10 day MVA and rallied Wednesday. A successful breakout test is one of our favorite entry points, and PENN looks solid here.
Volume: 910.877K Avg Volume: 383.83K
BUY POINT: $22.58 Volume=576K Target=$26.94 Stop=$21
POSITION: UQN GD - July $20c (74 delta) &/or Stock
http://www.investmenthouse.com/ct/penn.html
Play Date: 05/07/2003
PWN (Cash America--$11.28; +0.37; no options): Pawn shops
http://biz.yahoo.com/p/p/pwn.html
STATUS: Breakout. PWN formed a double bottom starting in January and then breaking out in mid-April. Accumulation in the base was solid at 5 up weeks on rising volume to 1 down week on rising volume. PWN came back to test the breakout at the 18 day MVA (10.50) and has started back up on rising volume. Wednesday PWN jumped over the breakout high at 11 on strong volume, completing a successful breakout test. Relative strength broke out as well, a strong confirmation of the move. Looking to move in on this successful test.
Volume: 303.8K Avg Volume: 78.2K
BUY POINT: $11.42 Volume=117K Target=$13.75 Stop=$10.62
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/pwn.html
CONTINUING PLAYS:
Play Date: 04/29/2003
ARTI (Artisan Components--$21.05; +0.83; optionable): Semiconductor integrated circuits
http://biz.yahoo.com/p/a/arti.html
STATUS: Breakout test. This is the best looking sub-sector in the semiconductor sector. ARTI is in a 5-month cup with handle base. It started a strong move 7 sessions back. It formed a short handle and broke out. It has come back to test the 10 day MVA (19.50) and then exploded higher Wednesday on huge volume. Looks like a great breakout test with the stock price following the outstanding money flow higher.
Volume: 2.825M Avg Volume: 243.703K
BUY POINT: New: $21.35 (orig. $20.35) Volume=350K Target=$24 Stop=$18.75
POSITION: UAR ID - Sept. $20c (55 delta) &/or Stock
http://www.investmenthouse.com/ct/arti.html
Play Date: 05/03/2003
CHINA (Chinadotcom--$5.01; -0.24; no options): Internet information provider
http://biz.yahoo.com/p/c/china.html
STATUS: Testing the breakout. CHINA jumped higher off the 10 day MVA 3 and 4 sessions back as volume rose with the stock. After gapping higher Tuesday it sold back, and it sold back some more Wednesday, tapping the 18 day MVA on the low (4.75) and rebounding to close right at the 10 day MVA as volume surged back up. This is a volatile stock and the sector has run far, but we liked the recovery off the 18 day, and when the market gets over the current resistance we are looking for it to make a strong move up off of this level.
Volume: 2.273M Avg Volume: 764.772K
BUY POINT: $5.25 Volume=1.1M Target=$6.35 Stop=$4.74
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/china.html
Play Date: 04/30/2003
LEXR (Lexar Media--$5.18; +0.08; optionable): Photo equipment
http://biz.yahoo.com/p/l/lexr.html
STATUS: Testing the move. LEXR blasted out of a lateral consolidation early this month on strong volume, and has spent this week pulling back on lower volume. Wednesday LEXR tested the 10 day MVA on the low (5.00) and stated back up. Looking for volume to surge back up along with the stock as a new entry point.
Volume: 1.073M Avg Volume: 892.86K
BUY POINT: New: $5.25 (orig. $5.06) Volume=1.2M Target=$7 Stop=$4.97
POSITION: EQG IA - Sept. $5c (58 delta) &/or Stock
http://www.investmenthouse.com/ct/lexr.html
Play Date: 04/23/2003
NSCN (Netscreen Technologies--$19.96; -0.03; optionable): Security software
http://biz.yahoo.com/p/n/nscn.html
STATUS: Testing the 18 day MVA. After a strong shot higher two weeks back that could not quite push over 21, NSCN has consolidated the past two weeks, moving down to the 18 day MVA (19.70) and using that as support. Volume has remained below average on this lateral move as money flow continues to hold strong. NSCN has shown two dojis the past two sessions right on the 18 day, and we are looking for it to follow that money flow back up with a strong volume surge off this support.
Volume: 1.286M Avg Volume: 1.708M
BUY POINT: New: $20.55; Next: $21.17 Volume=2.5M Target=$25.42 Stop=$19.69
POSITION: QKN ID - Sept. $20c (63 delta) &/or Stock
http://www.investmenthouse.com/ct/nscn.html
Play Date: 04/23/2003
RTIX (Regeneration Technologis--$10.14; 0.00; optionable): Research services
http://biz.yahoo.com/p/r/rtix.html
STATUS: Testing the breakout. RTIX broke out of a 4-month cup with handle base in late march, rallied to 10.25, and then started the current test with RTIX moving laterally but holding on to the majority of its gains. Stinginess with gains is a very good sign of strength in the stock. Money flow continues to rise as RTIX moves laterally in the test of the strong break higher. This is what is known as a flying plateau, a bullish pattern that follows a strong move higher. Looking for the higher volume breakout from here.
Volume: 226.384K Avg Volume: 109.293K
BUY POINT: New: $10.28 (orig. $9.68) Volume=150K Target=$12.35 Stop=$9
POSITION: RQK HU - Aug. $7.50c (83 delta) &/or Stock
http://www.investmenthouse.com/ct/rtix.html
End part 2 of 3
|
stock research
stock option
|
