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us stock market, stock recommendation
Begin part 2 of 2
THE PLAYS:
Good movers Friday: AMT; FDX; FFIV; GPRO; LLTC; NENG; NSM; OVTI; QLGC; REDF; SCSS; VTAL; XLNX
New:
Play Date: 05/10/2003
BCR (C.R. Bard--$63.39; +1.7; optionable): Medical instruments.
http://biz.yahoo.com/p/b/bcr.html
STATUS: Ascending triangle. For the past 1.5 years BCR has worked through a cup base and the stock is now back up to the high in the base, moving through a 2-month ascending triangle. Since November it has put together solid 8 to 3 accumulation, using the 50 day MVA (61.48) as the support in the base as it moves toward a breakout over 64. The long term pattern for BCR the past 4 years is a large ascending triangle that has used the 200 day MVA as support. After a lower volume test of the 50 day once again, BCR made a higher low Friday, starting back up on a strong volume surge. Solid accumulation, solid money flow, and it looks as if BCR is ready for that new high.
Volume: 369.7K Avg Volume: 317.818K
BUY POINT: $64.25 Volume=477K Target=$73.75 Stop=$61.55
POSITION: BCR JM - Oct. $65c (44 delta) &/or Stock
http://www.investmenthouse.com/ct/bcr.html
Play Date: 05/10/2003
MDCO (The Medicines Company--$21; +0.9; optionable): Drug manufacturers
http://biz.yahoo.com/p/m/mdco.html
STATUS: Testing the breakout. A new issue back in 2000, MDCO is just about to work its way out of the long base it has formed since mid-2001. It made a breakout move in late April on some solid volume, and has spent the past 2 weeks testing the breakout, pulling back to the 18 day MVA (20) and thn jumping up from that level Friday on rising though still below average volume. Excellent 5 to 1 accumulation (4 up price weeks on rising volume to 1 down price week on rising volume) since the start of this year as the stock moved basically laterally. Money flow is solid as is relative strength, and it looks as if MDCO is ready to complete the test.
Volume: 490.328K Avg Volume: 786.727K
BUY POINT: $21.25 Volume=825K Target=$25.48 Stop=$19.76
POSITION: MQL JD - Oct. $20c (63 delta) &/or Stock
http://www.investmenthouse.com/cI/mdco.html
Play Date: 05/10/2003
POWI (Power Integrations--$24.13; +1.13; optionable): Semiconductor integrated circuits
http://biz.yahoo.com/p/p/powi.html
STATUS: Flat base. POWI is moving in a 4-month lateral base between 20 and 24, showing solid 5 to 3 accumulation as it does. This past week POWI tested the top of the range and then pulled back to hold the 18 day MVA on the Friday low (22.75). It bounced solidly off that level on rising volume. This higher low in the base and good recent price/volume action indicates that POWI is ready to make the breakout this week. When it does we will move in.
Volume: 540.315K Avg Volume: 646.636K
BUY POINT: $24.55 Volume=970K Target=$29.45 Stop=$22.83
POSITION: QPW JE - Oct. $25c (53 delta) &/or Stock
http://www.investmenthouse.com/ci/powi.html
Continuing plays that look good:
Play Date: 05/01/2003
DCTM (Documentum--$18.96; +0.24; optionable): Application software
http://biz.yahoo.com/p/d/dctm.html
STATUS: Testing the breakout. Still testing the breakout, but starting to move higher Friday after a tapping at the 10 day MVA on the low (18.61) and rebounding on some rising though still below average volume. Excellent money flow and solid 7 to 4 accumulation in the base. Friday gave us a hint it is ready to move back up as overall market was lower but more buyers were moving into DCTM.
Volume: 769.626K Avg Volume: 1.13M
BUY POINT: $19.75 Volume=1.8M Target=$24 Stop=$18.32
POSITION: QDC GW - July $17.50c (77 delta) &/or Stock
http://www.investmenthouse.com/ci/dctm.html
Play Date: 04/29/2003
GSPN (Globespan--$6.89; +0.36; optionable): Semiconductor integrated circuits
http://biz.yahoo.com/p/g/gspn.html
STATUS: Testing the breakout. After a strong breakout in early May, GSPN has already made a quick and shallow test on lower volume, falling back to the 10 day MVA (6.47) on the test. Friday GSPN started moving up off the 10 day, rising on some stronger though still below average volume. With lower overall market volume, the increase was good to see and is a portent of the move this week when more volume enters.
Volume: 1.567M Avg Volume: 1.582M
BUY POINT: New: $6.98 (orig. $6.39) Volume=2.1M Target=$8.25 Stop=$6.05
POSITION: GLQ HA - Aug. $5c (82 delta) &/or Stock
http://www.investmenthouse.com/ci/gspn.html
Play Date: 03/20/2003
LLTC (Linear Technology--$36.34; +1.33; optionable): Semiconductors
http://biz.yahoo.com/p/l/lltc.html
STATUS: Cup w/handle. LLTC has moved out of its cup with handle and is now forming a short ascending triangle on top of that prior base, rising up the 18 day MVA (34.84) as it makes higher and higher lows. Friday LLTC was moving toward the breakout on rising, average volume. We are looking for the next breakout this week to add to positions. This stock could really fly on the breakout.
Volume: 7.148M Avg Volume: 6.67M
BUY POINT: New: $36.75 (orig. $34.97) Volume=7M Target=$40.48 Stop=$34.55
POSITION: LLQ HZ - Aug. $32.50c (63 delta) LLQ EZ - May $32.50c (66 delta) &/or Stock
http://www.investmenthouse.com/ci/lltc.html
CONTINUING PLAY LIST:
Look ready to move: BRCM; DRIV; FDRY; FFIV; RECN; THOR; TSCO; WFR
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
ALT 05/07 Cup hdl 4.18 -0.02 4.36 5.45 145K 188K 3.97
Buy Not Hit. Testing back nicely after the strong Wednesday move.
Should hold at the 10 day at 4 and rebound.
ALTR 04/15 Rv H&S 17.14 +0.56 15.75 18.81 7M 12M 16.02
Current. Still using the 10 day MVA to move up after the late
April breakout.
AMT 04/30 Test 50 7.5 +0.5 6.84 8.35 978K 2.1M 6.88
Current. Very nice test and Friday saw AMT start back up off
the 10 day MVA on rising though still below average volume.
APOL 04/12 A Wedge 56.46 +1.03 52.75 59 1.2M 2.7M 54.25
Current. Still moving up and using the 10 day MVA as support.
APOL 02/18 A Wedge 56.46 +1.03 46.25 52.88 1.2M 22M 54.25
Current.
BBA 04/05 Cup hdl 9.26 +0.01 6.05 7.55 437K 329K 8.05
Current. Still running up the 10 day MVA on above average volume.
BCGI 04/24 Test BO 17.01 -0.84 18.55 22.26 2.3M 431K 17.55
Current. Gapped down to the 50 day MVA and then managed to rally
back $1, closing at some resistance at 17. As it was
recovering, we let it & will see if it can get back
to 18 early this week.
BCR 05/10 A Wedge 63.39 +1.7 64.25 73.75 370K 477K 61.55
New.
BLTI 02/10 Test BO 11.05 +0.21 7.2 9.5 618K 300K 11.25
Current. After gapping lower Thursday, BLTI held teh 18 day
& started up Friday so we will see if it can recover
any more ground before exiting. If volume comes back
in on a move up we will let it move.
BRCM 05/03 Cup hdl 18.85 +0.79 19.15 22.94 7.6M 15M 17.81
Buy Not Issued. Still working nicely in the handle on below average
volume. Just waiting for the breakout.
BRL 01/27 Test 18 52.99 -0.42 51.88 62 1.1M 875K 55.55
CAH 04/09 Put 57.7 +0.8 55.96 52 1.9M 3.5M 54.74
Current.
CLE 04/14 Cup hdl 27.2 +0.71 26.05 30 491K 567K 24.78
Buy Not Issued.
CNCT 03/03 Test BO 17.76 +0.37 15 17.94 139K 210K 16.94
Current. Up off the 10 day MVA on some rising volume Friday.
Not a huge move but a good test and bounce.
CNQR 04/22 Test 18 6.08 +0.05 6.12 7.42 88K 250K 5.65
Buy Not Issued.
CTXS 03/29 Cup hdl 18.74 -0.54 14.12 17.25 7.4M 5.3M 17.94
Current. Testing the strong move, but volume jumped well above
average Friday as it closed under the 10 day. Needs
to hold the 18 day at 18.
CZN 04/24 Cup hdl 11.85 +0.3 11.34 13.57 2.2M 156K 10.96
Current. Solid volume surge Friday as CZN continued the breakout
move.
DCTM 05/01 Cup hdl 18.96 +0.24 19.75 24 770K 1.8M 18.32
Current. Continued the bounce up off the 10 day MVA, but not
much upside push yet.
DKS 03/18 DB hdl 28.79 -0.51 23.81 28.42 713K 225K 28
Current.
DKS 02/19 DB hdl 28.79 -0.51 22.75 27.35 713K 225K 28
Current. Gapped lower, sold, and then rebounded on strong volume.
Good recovery, showing a doji at key support.
DRIV 05/08 Test BO 16.95 -0.2 17.45 20.95 718K 1.4M 16.23
Buy Not Hit.
ELAB 03/06 Cup hdl 30.58 +0.23 24.06 28.88 266K 325K 29.75
Current. Nice doji on the 10 day MVA.
FDRY 04/29 Cup hdl 11.87 +0.21 10.9 13.15 2.2M 4.4M 10.74
Current. Nice tight doji on the breakout test as volume continued
to fall. Ready for the next leg up.
FDX 03/24 Cup hdl 62.05 +1.27 57.85 66 1.6M 2.2M 59.75
Current. Resuming the move after the 10 day MVA test, volume
rising again Friday.
FFIV 04/23 A Wedge 15.44 +0.81 15.3 18.32 488K 750K 14.05
Current. Nice rising volume move up off the 10 day MVA test.
GPRO 04/05 Dbl btm 35.65 +4.45 26.5 30.75 957K 521K 32.65
Current. Outstanding jump off the 10 day MVA after the breakout
test.
GS 04/26 Cup hdl 75 +0.94 76.9 82 3.8M 5M 75.22
Current. Left this once active as it held 74 and bounced. Financials
will recover & we are going to let GS bounce this week.
GSPN 04/29 Cup hdl 6.89 +0.36 6.39 8.25 1.6M 2.1M 6.05
Current. Held the 10 day MVA and started up on rising volume.
IDBE 04/16 Rv H&S 8.98 +0.19 8.17 11 91K 376K 7.94
Current. Trying to start up after a lateral breakout test.
JNPR 04/15 Flat 12 +0.1 10.6 13.42 12M 17M 10.78
Current. Very nice lateral test on low volume after that great
big breakout. Being stingy with gains after a breakout
is a sign of the strength of the breakout.
LLTC 03/20 Cup hdl 36.34 +1.33 34.97 40.48 7.1M 7M 34.55
Current. Looks as if it is massing for a breakout, bouncing
up off the 18 day MVA Friday on rising, average volume.
LM 05/06 Cup hdl 57.7 +0.72 58.5 67.78 337K 610K 55.72
Current. Lateral, low volume move after the breakout.
MDCO 05/10 Test 18 21 +0.9 21.25 25.48 490K 825K 19.76
New.
MED 04/28 Cup hdl 8.75 -0.71 7.12 8.95 381K 145K 6.42
Target Hit. Starting a lower volume test of the strong breakout.
MER 04/28 Cup hdl 42.17 +0.28 41.55 47.45 4.7M 7.5M 40.55
Current. Testing the 10 day MVA on lower volume as MER maintains
the uptrend.
MME 04/30 BO 45.94 +0.69 45.65 54.45 745K 634K 42.45
Current. Continued the breakout move on conitnued above average
volume.
MRGE 04/24 Rv H&S 8.12 +0.22 8.06 10.45 76K 65K 7.55
Current. Bounced up off the 10 day MVA on above average volume.
MUSE 05/03 Test 18 7.85 +0.01 7.75 9.35 1.3M 2M 7.05
Current. Moving laterally on lower volume after the solid breakout
higher.
NENG 05/05 Cup hdl 2.23 +0.18 2.08 3.44 443K 232K 1.98
Current. Barrleing higher on volume after a quikc breakout test.
NSCN 04/23 Cup hdl 19.7 +0.3 21.17 25.42 740K 2.5M 19.69
Current. Still moving laterally at the 18 day MVA on lower volume
as it fully tests the prior move. This is where it
needs to rally.
NSM 04/18 Cup hdl 21.8 +1.58 19.55 24.88 4.2M 3.8M 19.35
Current. One of the best performing chips, NSM was up on sharp
volume Friday after a nice, lower volume 10 day MVA test.
NTES 04/01 Cup 24.56 +0.13 17 27 668K 1M 22.55
Current. Nice lateral move over the 10 day MVA checking up the
Tuesday reversal. Looking for a bounce up on volume
this week.
NVDA 05/08 Cup hdl 21.37 +5.31 17.55 21.25 77M 11M 16.32
Buy Not Issued.
NVLS 05/06 Flat 28.69 +0.78 30.28 36 8.9M 11M 28.16
Buy Not Hit. Not doing much after falling right back into the heart
of the consolidation. Volume was up Friday on a move
higher, but we will have to see more.
NXTL 02/25 Flat 13.26 -0.02 14.55 17.55 17M 2.5M 14.15
Exited.
OVRL 04/05 Flat 17.52 +0.13 16.75 20.25 77K 140K 16.92
Exited. Got shaken out like a rookie because had a preconceived
notion I would exit. It rallied back to recover the
18 and 10 day MVA on some rising volume. May have to
get right back in.
OVTI 02/24 Cup hdl 28.64 +1.59 19.05 31 834K 1.2M 25.95
Current. A nice move up off the 10 day MVA test. Upped the target,
but with respect to the June options we need to be
ready to take the gain as this run tops off. Currently
bidding $13.50 (+130%).
PCNTF 04/14 Cup 9.22 +0.16 7.7 9.62 111K 175K 8
Current. Nice recovery off the 10 day MVA but needs to clear
9.50 with some authority.
PKI 03/04 Test BO 11.09 +0.37 9.16 12 802K 1M 10.05
Current. STarted back up from the 10 day MVA on volume. Moved
up the target and the stop.
POWI 05/10 Flat 24.13 +1.13 24.55 29.45 540K 970K 22.83
New.
PWN 05/07 BO 11.44 +0.23 11.42 13.75 62K 117K 10.62
Buy Not Issued. No volume on the Friday move. May ses another test
of 11 before starting back up.
QLGC 03/15 Test BO 46.75 +1.28 38.85 45 4.6M 11M 42.22
Current.
QLGC 11/07 Test BO 46.75 +1.28 41.4 50 4.6M 25M 42.22
QLGC 08/17 CCall 46.75 +1.28 36.48 0 4.6M 12M 42.22
Current. Still moving up though no volume Friday.
RARE 04/08 Cup 29.53 +0.89 30.06 36 175K 275K 29.12
Buy Not Issued. Nice recovery off the 50 day MVA on rising, above average
volume.
RECN 05/03 Cup hdl 22.5 +0.32 23.74 28.25 78K 195K 21.96
Buy Not Hit. Holding the 18 day MVA. Looks ready to start back up.
REDF 04/21 BO 6.48 +0.78 4.35 7.25 407K 300K 5.18
Current. Nice test of the 10 day MVA, and then started up Friday
on continued above average volume. Moved up the target
and the stop.
RGEN 04/07 Test 18 5.89 +0.51 4.84 7.1 181K 132K 5.45
Current. Gapped down but started to move back up so we let it
recover for a nice move after the deeper test.
RMD 05/03 Test BO 36.7 -0.17 37.75 43.75 264K 322K 35.92
Buy Not Issued. Nice intraday test of the 18 day and then a rebound
on strong volume. Looks ready to continue the move higher.
RTIX 04/23 Cup hdl 10.48 +0.02 10.45 12.55 218K 150K 9.88
Current. Strong breakout Thursday and we went ahead and moved
in Friday with some positions.
SCSS 04/26 Cup hdl 14.51 +1.32 12.22 16 4.6M 696K 12.94
Target Hit. Super blast higher on mega volume. Took some gain and
left the rest to work for us. Moved up the target and
the stop.
SEPR 04/12 Test BO 19.33 +0.43 17.1 21 1.1M 1.8M 18.05
Current. Nice lateral consolidation. We moved up the stop and
the target because when it breaks higher it will surge.
SHRP 05/01 Cup hdl 20.5 +0.38 21.45 25.25 215K 293K 19.95
Buy Not Issued. Still working in the handle.
SIGM 05/06 Cup hdl 8.01 +0.11 7.58 9.55 238K 125K 7.05
Buy Not Issued. Going to have to let it test back toward 7.50 and then
enter when it rebounds.
SINA 04/12 Cup hdl 12.36 +0.38 9.35 13.45 1.7M 2.5M 10.88
Current. Updated the taget and the stop, but really just letting
it run. Struggling some here at 12.65, the point it
needs to break.
SPLS 03/31 Test 50 20.69 +0.14 20.3 23.55 2.9M 5M 19.55
Current. Stilll moving up on the breakout move but losing some
momentum as voume backs off.
SSYS 03/01 Cup hdl 22 -1.5 12.25 15.45 772K 110K 21.88
Target Hit. Fell back to the 18 day MVA on sharply higher volume
and we took some gain on teh move. HOlding the 18
day is good, and if it can bounce here, so much the better.
THOR 04/05 Test BO 13.26 +0.45 13.5 16.26 319K 721K 12.74
Current. Held the 18 day MVA adn then rallied. Needs some more
volume.
TSCO 04/24 Cup hdl 43.61 0 43.75 52 339K 603K 41.94
Current.
UCOMA 03/31 Cup hdl 3.86 +0.06 3.35 4.48 469K 875K 3.65
Current. Nice doji over the 18 day MVA as volume edged higher.
UNFI 04/02 Cup hdl 25.8 +0.27 27.04 32.35 328K 352K 27.77
Exited.
UNTD 04/26 Test 18 20.4 +0.12 20.45 24.4 771K 1.9M 20.65
Current. Holding with a doji right at the 18 day MVA on veyr
low volume. Looking for UNTD to make another 18 day
MVA bounce here.
UNTD 03/15 Dbl btm 20.4 +0.12 17.28 20.75 771K 1.2M 20.65
Current.
UTHR 04/30 Cup hdl 17.86 +0.26 18.12 21.75 295K 226K 17.48
Current. Recovering from late week selling, rising off the 18
day MVA on stronger, above average volume.
VIVO 05/07 BO 9.33 +0.04 9.38 11.25 46K 45K 8.72
Buy Not Issued. Have not liked the intraday action, gapping higher
and then bleeding back all session. Needs to test toward
9 and then rebound on volume.
VRNT 05/05 Cup hdl 19.76 -1.04 22.92 27.55 257K 245K 21.32
Current. Trying to hold the 18 day MVA. Needs to hold here.
VRTS 08/19 CCall 24.59 +0.64 19.76 20 6.2M 8.5M 22.05
Current. Nice move back up over 24 though not a lot of volume.
This has been a nice recovery.
VSTA 04/28 Cup hdl 20.58 -0.87 19.98 23.85 492K 156K 19.97
Current. Ran into trouble at the end of the week on rising volume.
Trying to hold the 18 day at 20.
VTAL 04/23 Cup hdl 16.15 +0.85 14.25 17.12 237K 150K 14.12
Current. After the lateral move VTAL jumped up on strong volume.
Nice.
WFR 03/29 FlyPlat 13 +0.1 12.4 15.15 277K 200K 12.22
Current. Has formed a smal ascending triangle adn is trying
to mass for the reakout.
WFR 02/22 Flat 13 +0.1 9.35 14 277K 217K 12.22
Current. Moved up the target and the stop as WFR prepares to
break higher.
WPI 05/05 Flat 35.48 -0.04 31.62 38 2.5M 1.9M 31.92
Current. What a powerful week. Surged on the breakout and then
tested back on lower volume to end the week, but held
most of its gains, a sign of strength.
XLNX 03/20 Test BO 28.81 +1.11 28.05 34.55 8.5M 14M 26.88
Current. Started back up Friday on some rising though still
below average volume.
Good Investing!
Jon L. Johnson and your IH Alerts 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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us stock market
stock recommendation
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