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Begin part 2 of 2
THE PLAYS
Good movers on Wednesday: DSPG; FDRY; NTES; OVTI; SINA; SOHU; SSYS; ILXO
Wednesday Plays:
ADIC: Still looks ready as volume surged.
AGEN: Huge break higher.
SHRP: Backed off from the breakout.
Best Plays:
1) CELG: Starting a breakout on strong volume.
2) IART: Very nice pattern that looks ready to jump
3) Continuing: ADIC is still in a great handle. TSCO is just waiting on the market for the next move.
New Plays:
Play Date: 05/14/2003
AETH (Aether Systems--$4.01; -0.07; no options): PC networking and communication
http://biz.yahoo.com/p/a/aeth.html
STATUS: Cup w/handle. AETH is testing the breakout from a 5-month base sporting solid 6 to 3 accumulation (6 up weeks on rising volume to 3 down weeks on rising volume). It surged off the 18 day MVA (3.80) after testing that level, and has now pulled back to test the 10 day MVA, tapping that point on the intraday low (3.90) and then rebounding on the close. Solid accumulation and solid money flow have set the stage for a good breakout move.
Volume: 421.815K Avg Volume: 162.363K
BUY POINT: $4.25 Volume=244K Target=$5.12 Stop=$3.95
POSITION: - Stock
http://www.investmenthouse.com/cd/aeth.html
Play Date: 05/14/2003
CELG (Celgene--$29.84; +1.01; optionable): Biotechnology
http://biz.yahoo.com/p/c/celg.html
STATUS: Ascending triangle. After breaking out of a 4-month double bottom spanning December to March, CELG had formed the current triangle the past 1.5 months on top of that breakout. We like these combination patterns as they do a good job of shaking out the sellers and setting a solid foundation for further moves higher. Wednesday CELG broke higher from the pattern on stronger volume. Accumulation in the short base is 2 to 1, 7 to 1 in the double bottom. That is a solid foundation indeed. We are ready to get in on this move.
Volume: 4.107M Avg Volume: 1.212M
BUY POINT: $30.12 Volume=1.8M Target=$36.15 Stop=$27.96
POSITION: LQH JF - Oct. $30c (55 delta) &/or Stock
http://www.investmenthouse.com/cd/celg.html
Continuing:
Play Date: 05/07/2003
ASCL (Ascential Software--$3.7; +0.01; no options): Application software
http://biz.yahoo.com/p/a/ascl.html
STATUS: Flying plateau. The plateau has turned into a nice, orderly test of the 18 day MVA, holding right at that level and showing a tight doji Wednesday as volume fell back to average. Still a very nice test of the breakout from the 4.5 month flat base. Good accumulation, solid money flow still up ahead of the price. Looking for a strong move up from here on a sharp volume increase. We have added an aggressive buy point given the deeper test of the breakout.
Volume: 1.224M Avg Volume: 1.066M
BUY POINT: Aggressive: 3.85; Breakout: $4.05 Volume=1.7M Target=$4.96 Stop=$3.77
POSITION: - Stock
http://www.investmenthouse.com/cd/ascl.html
Play Date: 04/24/2003
IART (Integra Lifesciences--$26.45; +0.14; optionable): Biotechnology
http://biz.yahoo.com/p/i/iart.html
STATUS: Flying plateau. After blasting higher off the 10 day MVA in April, IART is moving laterally, holding over 26 on very low volume as the 10 day MVA has now rising to meet the price. The very tight trading range, flat lateral move, and low volume are very good indications for another leg higher. Excellent accumulation and money flow.
Volume: 128.002K Avg Volume: 396.909K
BUY POINT: New: $27 (orig. $26.25) Volume=485K Target=$32 Stop=$25.45
POSITION: UJI IE - Sept. $25c (62 delta) &/or Stock
http://www.investmenthouse.com/cd/iart.html
MEMBER PORTFOLIO: AMZN, BRCM, IBM, IGEN, KLAC, MSFT, RCII, TEVA, WMT YHOO
These are the stocks that our subscribers vote to put in a 'portfolio' to track their progress and comment upon when they reach buy points, sell points, or levels to write some covered calls on. They are not intended to be held as a portfolio by subscribers and are not covered in their entirety in every report. When something interesting is developing we take note.
WMT 02/05 Put 53.9 -1.59 0 0 12M 8.2M 0
Earnings were not up to expectations, and WMT was the retail whipping boy.
AMZN 05/03 BO 32.6 -0.35 30.3 35.45 8M 12M 28.74
Current. Took a breather after the excellent move higher.
BRCM 05/03 Cup hdl 20.04 +0.24 19.2 22.94 15M 15M 17.86
Current. Up again on above average volume.
CONTINUING/WATCHLIST:
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
ADIC 05/13 DB hdl 8.48 -0.03 8.95 10.75 493K 521K 8.32
Buy Not Hit. Still working in the handle showing a nice volume spike Wednesday.
AETH 05/14 Cup hdl 4.01 -0.07 4.25 5.12 422K 244K 3.95
New.
AGEN 05/13 Cup hdl 11.34 +0.84 10.95 13.22 652K 417K 10.05
Current. Excellent surge higher.
ALTR 04/15 Rv H&S 16.95 -0.08 15.75 18.81 9M 12M 16.02
Current. Tested the 18 day MVA on the low and rebounded for a small loss. Good action.
AMZN 05/03 BO 32.6 -0.35 30.3 35.45 8M 12M 28.74
Current. Took a breather after the excellent move higher.
ASCL 05/07 FlyPlat 3.7 +0.01 4.05 4.96 1.2M 1.7M 3.77
Buy Not Hit.
BCE 04/05 Cup 20.64 +0.21 19.9 23.75 202K 550K 19.65
Current. Moving higher again on rising volume.
BLL 03/03 A Wedge 53.52 -0.68 54.22 62 511K 550K 55.74
Exited.
BLTI 02/10 Test BO 11.46 +0.26 7.2 9.5 594K 300K 11.25
Current. Rallied on some stronger volume so we stayed with the position.
BRCM 05/03 Cup hdl 20.04 +0.24 19.2 22.94 15M 15M 17.86
Current. Up again on above average volume.
C 04/18 Rv H&S 38.9 -0.37 40.54 47.55 11M 23M 38.45
Buy Not Issued.
CHIR 05/03 Cup hdl 41.23 +0.06 42.9 51 1.1M 2M 40.25
Exited.
CLE 04/14 Cup hdl 27.65 -0.23 26.05 30 419K 567K 24.78
Buy Not Issued.
CNQR 04/22 Test 18 6.15 +0.15 6.12 7.42 102K 250K 5.65
Buy Not Issued.
CTL 05/01 Cup hdl 32.5 -0.19 32 38 555K 1.3M 30.55
Current. Took a breather after a strong move.
CTXS 03/29 Cup hdl 19.6 +0.03 14.12 17.25 4.3M 5.3M 17.94
Current. Trying to put together a bounce up off the 18 day MVA.
DCLK 04/26 Test BO 9.77 +0.27 9.04 11.35 2.3M 1.9M 8.54
Current. Very nice session, rising on strong volume.
DKS 03/18 DB hdl 29.59 -0.01 23.81 28.42 178K 225K 28
Current. Still working laterally over the 10 day MVA.
DKS 02/19 DB hdl 29.59 -0.01 22.75 27.35 178K 225K 28
Current.
DRIV 05/08 Test BO 19.15 +0.25 17.62 20.95 1.2M 1.4M 16.23
Current. Took a day off on lower volume after a strong move.
DSPG 04/26 Test BO 23.41 +0.99 21.1 25.1 663K 300K 21.35
Current.
DSPG 04/09 Test BO 23.41 +0.99 19.35 23 663K 308K 21.35
Target Hit. Took some nice gain, letting the rest work for us.
EBAY 12/12 Test 18 97.63 +0.15 69.45 92 5.9M 12M 91.22
Current. Strong move Tuesday, took a breather Wednesday.
EBAY 10/15 Test 50 97.63 +0.15 62.45 92 5.9M 12M 91.22
Current.
EFII 03/27 Cup hdl 19.01 -0.48 18.43 22.25 235K 498K 19.15
Current. Selling on light volume. Held at some support at 19 and needs to bounce from there.
FDRY 04/29 Cup hdl 13.24 +0.44 10.9 13.15 5M 4.4M 11.54
Target Hit. Took some nice gain, let some run.
FFIV 04/23 A Wedge 16.51 +0.28 15.3 18.32 622K 750K 14.05
Current. Still working higher on solid volume.
FLSH 05/12 Rv H&S 10 +0.11 9.2 10.96 512K 195K 8.56
Current. Took a day off after the strong break higher.
GRMN 11/06 Cup hdl 47.78 -0.07 22.34 37.45 545K 198K 42.45
Current.
HAS 04/12 Test BO 15.82 -0.25 14.88 17.88 627K 1.2M 15.55
Current. Trying to hold the 18 day MVA. The strong break higher was a washout.
HAS 03/31 Test BO 15.82 -0.25 14.65 17 627K 1.2M 15.35
Current.
IART 04/24 FlyPlat 26.45 +0.14 26.25 32 128K 485K 25.45
IBM 01/11 Cup hdl 88.7 -1.28 88.62 100 7.8M 14M 84.75
Current. Gave back some, but on lower volume.
IGEN 01/11 A Wedge 36.5 +0.15 0 0 454K 375K 36
IGLD 04/21 Cup 4.92 -0.76 4.3 6.45 833K 543K 4.75
Current. Thudded down to the 18 day MVA on volume. Danger.
ILXO 04/15 Cup hdl 16.21 +1.21 11.6 15.32 519K 293K 13.88
Target Hit. Took some nice gain off the table, let some work for us.
JNPR 04/15 Flat 13.01 +0.5 10.6 13.42 26M 17M 10.78
Target Hit. Took some nice gain off the table, let some run for us.
KLAC 04/02 Test 50 41.54 -1.21 39.4 45.48 11M 13M 40.65
Current. Down to the 18 day MVA in the chip selling. It has used that level as support on the entire move higher.
MDCO 05/10 Test 18 21.1 -0.29 21.25 25.48 531K 825K 19.76
Current. Still working laterally, testing the 18 day MVA on the lwo and rebounding.
MME 04/30 BO 45.06 -0.13 45.65 54.45 714K 634K 42.45
Current.
MSFT 01/11 A Wedge 25.63 -0.36 26.62 30 45M 57M 25.55
MXIM 04/18 Rv H&S 38.18 -1.19 40.12 45 10M 1.2M 38.65
Current. Down to the 50 day MVA in the chip selling. Rallied back after undercutting it some so we let it run another session to see if it can continue the rebound.
MYK 03/22 Cup hdl 8.99 +0.22 8.88 10.88 73K 180K 8.26
Current.
NTES 04/01 Cup 28.31 +1.33 17 27 1.6M 1M 22.55
Current. Still up on rising volume.
NVDA 05/08 Cup hdl 20.36 -0.02 17.55 21.25 8.1M 11M 16.32
Buy Not Issued.
OVTI 02/24 Cup hdl 30.99 +0.99 19.05 31 1.2M 1.2M 25.95
Current. Another gain on volume.
POSS 04/23 Cup 16.8 -2.39 20.18 24 1.4M 342K 18.45
Exited. Big gap down on volume as one leader took it on the chin.
QCOM 04/16 Put 30.84 -0.53 32.56 29 11M 16M 30.28
QLGC 03/15 Test BO 46.26 -1.18 38.85 45 5.2M 11M 42.22
Current.
QLGC 11/07 Test BO 46.26 -1.18 41.4 50 5.2M 25M 42.22
QLGC 08/17 CCall 46.26 -1.18 36.48 0 5.2M 12M 42.22
Current.
RCII 01/11 Test BO 65.22 +0.02 0 0 299K 0 62.45
RGEN 04/07 Test 18 5.97 +0.13 4.84 7.1 375K 132K 5.45
Current. Holding over the 10 day MVA on strong volume.
RL 04/10 Cup hdl 23.4 +0.3 23.26 27.94 661K 433K 21.63
Buy Not Issued. Strong volume but not a lot of stock movement. Will see if it can continue the move.
SCSS 04/26 Cup hdl 14.82 +0.17 12.22 16 700K 696K 12.94
Current. Still holding up well.
SFNT 05/12 Cup hdl 27.7 -0.2 28.5 32.75 239K 394K 26.5
Current. Took a breather on lower volume.
SHRP 05/01 Cup hdl 21.35 -0.13 21.45 25.25 608K 293K 19.95
Buy Not Issued.
SIGM 05/06 Cup hdl 8.22 +0.74 7.58 9.55 223K 125K 7.05
Buy Not Issued.
SINA 04/12 Cup hdl 14.78 +1.35 9.35 13.45 6.8M 2.5M 10.88
Current. Big move higher on volume.
SOHU 03/20 Dbl btm 21.68 +1.68 10.55 21.45 2.2M 800K 16.55
Current. Ditto.
SPLS 03/31 Test 50 20.11 -0.44 20.3 23.55 4.1M 5M 19.55
Current.
SSYS 03/01 Cup hdl 29.1 +1.5 12.25 15.45 976K 110K 21.88
Current. And yet another volume move higher.
TEVA 01/11 A Wedge 47.06 -1.31 0 0 2.4M 5M 0
THOR 04/05 Test BO 14.08 -0.01 13.5 16.26 1M 721K 12.74
Current.
TSCO 04/24 Cup hdl 45.16 +0.03 43.75 52 322K 603K 41.94
Current. Nice rest.
TSCO 04/03 Rv H&S 45.16 +0.03 38.6 44.38 322K 577K 41.94
Current.
TXN 05/10 Cup hdl 19.42 -0.28 20.45 24.55 13M 16M 18.96
Buy Not Hit.
USAI 03/25 Cup hdl 35.02 -0.23 29.12 33.55 7.3M 8.3M 32.55
Current.
UTHR 04/30 Cup hdl 18.86 +0.41 18.12 21.75 205K 226K 17.48
Current. Nice move in a great recovery.
VIVO 05/07 BO 9.33 +0.15 9.38 11.25 41K 45K 8.72
Buy Not Issued. Up off the 10 day MVA but on lower volume.
VRNT 05/05 Cup hdl 20.85 -0.71 22.92 27.55 95K 245K 21.32
Current. Holding the 10 day MVA on some low volume testing.
VRTS 08/19 CCall 25.23 -0.26 19.76 20 8M 8.5M 22.05
Current.
VSTA 04/28 Cup hdl 24.25 +0.4 19.98 23.85 782K 156K 20.88
Current. Still moving higher on above average volume.
VTAL 04/23 Cup hdl 17.29 +0.19 14.25 17.12 156K 150K 15
Current.
WFR 03/29 FlyPlat 11.59 -0.72 12.4 15.15 766K 200K 12.22
Exited.
WFR 02/22 Flat 11.59 -0.72 9.35 14 766K 217K 12.22
Exited. Turned over on high volume and we exited with a trailing
stop to book a nice gain.
WMT 02/05 Put 53.9 -1.59 0 0 12M 8.2M 0
Earnings were not up to expectations, and WMT was the retail whipping boy.
XLNX 03/20 Test BO 28.15 -0.54 28.05 34.55 8.2M 14M 26.88
Current. Held the 10 day MVA on the close after testing the 18 day MVA on the low.
XMSR 04/07 Test BO 10.07 -0.16 6.95 8.42 4.7M 6.5M 8.94
Current.
YHOO 12/11 Test 50 27.09 -0.13 17.32 25 12M 20M 23.94
Current. Took a rest after the strong break higher.
Good Investing!
Jon L. Johnson and The Daily Staff
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 of 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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