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stock recommendation, stock market report
Begin part 2 of 2
THE PLAYS
Good movers Tuesday: Many, many
NEW PLAYS:
Upside:
Play Date: 04/28/2003
MER (Merrill Lynch--$42; +1.32; optionable): Investment brokerage
http://biz.yahoo.com/p/m/mer.html
STATUS: Cup w/handle. Taking another look at MER as it has now formed a lower volume handle to its 5-month base after a hard fall through the 18 day MVA (41.25) just two weeks back. Accumulation in the base is solid at 7 to 4, and money flow has continued to hold up and is moving higher again ahead of the stock price. We are looking for price to follow the stock and move on up from here for a nice breakout. Tuesday it started up off a test toward the 50 day MVA on the low (40.23) on some rising volume, a good start toward a breakout run.
Volume: 5.516M Avg Volume: 6.056M
BUY POINT: $43.12 Volume=7.5M Target=$49.55 Stop=$40.1
POSITION: MER JV - Oct. $42.50c (51 delta) &/or Stock
http://www.investmenthouse.com/ct/mer.html
Play Date: 05/27/2003
RHAT (Red Hat--$7.26; +0.35; optionable): System and net software
http://biz.yahoo.com/p/r/rhat.html
STATUS: Testing the breakout. It is a long way from RHAT's heyday, but it has formed a nice 6-month cup with handle base showing excellent 10 to 3 accumulation. It broke out two weeks back, but the market started to get choppy. It then tested back toward the 18 day MVA (6.80) last week, holding that level on the close. Tuesday RHAT shot higher on a strong surge of above average volume. A very nice test of the breakout, and we are looking for positions on a further move higher.
Volume: 1.313M Avg Volume: 957.363K
BUY POINT: $7.45 Volume=1.4M Target=$8.94 Stop=$6.93
POSITION: RCV IU - Sept. $7.50c (50 delta) &/or Stock
http://www.investmenthouse.com/ct/rhat.html
CONTINUING PLAYS:
Play Date: 04/23/2003
NSCN (Netscreen Technologies--$22.75; +0.96; optionable): Security software
http://biz.yahoo.com/p/n/nscn.html
STATUS: Testing the breakout. NSCN is making the surge up off the 10 day MVA that was the support for the test of its breakout. Volume jumped above average on the move and it is still a buy at this point.
Volume: 1.875M Avg Volume: 1.773M
BUY POINT: New: $22.97 (orig. $22.25, $21.17) Volume=2.5M Target=$25.42 Stop=$20.94
POSITION: QKN ID - Sept. $20c (63 delta) &/or Stock
http://www.investmenthouse.com/ct/nscn.html
Downside:
Play Date: 05/19/2003
PRX (Pharmaceutical Resources--$39.36; -0.24; optionable): Generic drugs
http://biz.yahoo.com/p/p/prx.html
STATUS: Put. Showing a hanging man doji below the 50 day MVA as volume rallied Tuesday. It is really struggling, unable to get over the 50 day and participate in the rally. Looking for it to give in and fail here.
Volume: 1.043M Avg Volume: 743.454K
BUY POINT: New: $38.88 (orig. $37.85) Volume=700K Target=$34.52 Stop=$39.75
POSITION: PRX SH - July $40p (-56 delta)
http://www.investmenthouse.com/ct/prx.html
Play Date: 05/24/2003
PSUN (Pacific Sunwear--$20.67; -0.11; optionable): Apparel
http://biz.yahoo.com/p/p/psun.html
STATUS: Put. Starting to fade after struggling to get back over the 50 day MVA (21.45). Volume was up Tuesday as it was unable to participate in the rally. Looking for a fall on rising volume.
Volume: 2.195M Avg Volume: 1.377M
BUY POINT: $20.55 Volume=1.7M Target=$18 Stop=$21.68
POSITION: PVQ UX - Sept. $$22.50p (-59 delta)
http://www.investmenthouse.com/ct/psun.html
WATCHLIST/ CONTINUING:
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
ACL 05/20 Put 43.38 +0.89 41.48 38.75 290K 400K 42.55
Buy Not Issued.
ADPT 05/19 Test 18 7.91 +0.37 7.88 9.48 1.7M 825K 7.33
Current.
ADVP 05/20 Cup hdl 33 0 32.85 39.22 1.2M 2M 31.92
Current.
AETH 05/14 Cup hdl 5.03 +0.28 4.45 5.45 658K 244K 4.21
Current.
ALT 05/07 Cup hdl 5.05 +0.22 4.4 5.45 350K 188K 4.44
Current.
AOS 05/17 Test BO 31.5 +0.29 31.65 37.65 44K 136K 30.25
Buy Not Hit.
APC 05/21 Cup hdl 49.74 +0.31 49.75 56.88 2.2M 3M 47.96
Buy Not Issued.
APOL 05/27 Test 50 54.95 +2.55 55.07 62 3.3M 2.7M 52.25
Current.
AVE 05/19 Put 53.23 +0.98 50.96 48 142K 375K 52.25
Buy Not Hit.
BCR 05/10 A Wedge 68.01 -0.48 64.4 73.75 682K 477K 65.75
Current.
BGEN 05/24 Rv H&S 42.88 +2.38 42.35 49.55 6.2M 4.5M 39.39
Current.
BLTI 02/10 Test BO 13.31 +0.58 7.2 13.45 777K 300K 11.78
Current.
BPOP 05/22 Test BO 38.65 +0.23 37.95 44 257K 200K 37.44
Current.
BPOP 04/03 Cup hdl 38.65 +0.23 35.25 40.45 257K 200K 37.57
Current.
BRL 05/24 Put 53.3 +0.74 51.94 48.06 1.1M 1.4M 52.95
Buy Not Hit.
CAH 04/09 Put 57.84 +0.8 55.96 52 1.8M 3.5M 54.74
Exited.
CCU 05/17 Cup hdl 40.14 +0.56 41.26 47.45 3.1M 6.9M 39.25
Buy Not Hit.
CVH 03/31 BO 43.32 +0.22 40.25 47.25 650K 815K 39.97
Current.
CY 05/17 Test 18 10.51 +0.91 10.06 12.12 2M 2.3M 9.36
Buy Not Hit.
CY 03/04 Cup hdl 10.51 +0.91 6.7 8.65 2M 2.3M 9.48
Current.
ELAB 03/06 Cup hdl 30.52 +0.87 24.06 28.88 348K 325K 30.38
Current.
EPIC 05/08 FlyPlat 3.65 +0.09 3.15 4 273K 145K 3.11
Current.
EXTR 05/17 Test BO 5.89 -0.11 5.45 7.42 8.6M 4.5M 5.12
Current.
FDX 03/24 Cup hdl 62.09 +0.95 57.85 66 1.4M 2.2M 60.71
Current.
FFIV 05/21 Test 18 16.8 +0.79 15.62 18.55 593K 750K 15.23
Current.
FFIV 04/23 A Wedge 16.8 +0.79 15.34 18.32 593K 750K 15.23
Current.
FLIR 05/08 PreSplt 55 +2.47 51.7 58.75 278K 401K 51.25
Current.
FLSH 05/22 Test BO 11.09 +0.48 10.55 12.75 373K 195K 9.69
Current.
FLSH 05/12 Rv H&S 11.09 +0.48 9.2 10.96 373K 195K 9.69
Target Hit.
GPRO 04/05 Dbl btm 38.96 -0.7 26.5 30.75 622K 521K 35.35
Current.
GRMN 11/06 Cup hdl 48.3 +2.02 22.34 37.45 761K 198K 44.44
Current.
GSPN 05/24 Test BO 7.4 +0.4 7.35 10 4.1M 2.8M 6.84
Buy Not Hit.
HIL 05/22 Test BO 10.41 +0.71 9.2 11.2 692K 250K 8.22
Current.
HIL 05/03 BO 10.41 +0.71 7.45 8.96 692K 250K 8.22
Current.
HTCH 05/14 A Wedge 29.1 +1.51 29 33.35 1.1M 802K 26.97
Current.
IDBE 04/16 Rv H&S 10.35 +0.13 8.17 11 417K 376K 9.25
Current.
JPM 04/01 Test BO 32.05 +1.15 24.96 28.55 11M 1.2M 29.65
Current.
KOSP 05/13 Test BO 26.31 +3.22 23.25 27.48 731K 400K 21.88
Buy Not Issued.
LEXR 05/22 Cup hdl 7.25 +0.61 6.22 7.55 3.6M 1.2M 5.78
Current.
LEXR 04/30 FlyPlat 7.25 +0.61 5.06 7 3.6M 1.2M 5.78
Target Hit.
LGTO 05/22 A Wedge 6.99 +0.26 7.02 8.75 3.8M 2M 6.53
Buy Not Hit.
LU 05/14 Cup hdl 2.36 -0.08 2.37 3.05 52M 60M 2.17
Current.
MCDTA 04/30 Cup 11.46 +0.8 11.15 13.58 1.4M 2.7M 10.37
Current.
MED 05/22 Test BO 11.75 +0.65 10.62 12.78 261K 145K 9.65
Current.
MED 04/28 Cup hdl 11.75 +0.65 8.7 10.42 261K 145K 9.65
Current.
MER 04/28 Cup hdl 42 +1.32 43.12 49.55 5.5M 7.5M 40.1
New.
MERQ 05/12 Cup hdl 37.87 +1.51 37.68 44.25 2.8M 6.8M 35.04
Buy Not Issued.
MOBE 04/24 Cup 2.39 +0.12 1.88 2.38 829K 110K 1.88
Current.
MVL 03/03 BO 20.29 +0.49 11.82 21 830K 675K 19.25
Current.
NBIX 05/03 Cup 51.19 +2.43 48.2 54.25 850K 600K 47.31
Current.
NCN 05/21 Cup hdl 8.18 +0.15 8.28 10 464K 254K 7.88
Buy Not Hit.
NENG 05/05 Cup hdl 2.56 +0.08 2.08 3.44 678K 232K 2.12
Current.
NSCN 04/23 Cup hdl 22.75 +0.96 21.17 25.42 1.9M 2.5M 20.94
Current.
NSM 04/18 Cup hdl 23.51 +1.08 19.55 24.88 3.3M 3.8M 21.82
Current.
NTN 05/07 Test BO 1.99 +0.07 1.95 2.75 106K 183K 1.81
Current.
NVDA 05/08 Test BO 22.72 +1.85 22.62 27 14M 11M 20.05
Current.
NWK 04/28 DB hdl 8.36 +0.65 7.11 9.45 396K 256K 7.31
Current.
ONXX 05/19 Rv H&S 11.03 +0.03 10.55 12.25 492K 300K 8.99
Current.
OVRL 05/10 Test BO 16.94 -0.11 18.05 21.68 172K 125K 16.88
Buy Not Hit.
PKI 03/04 Test BO 12.5 +0.46 9.16 13.55 1.3M 1M 11
Current.
PRX 05/19 Put 39.36 -0.24 37.85 34.52 1M 700K 39.75
Current.
PSUN 05/24 Put 20.67 -0.11 20.55 18 2.2M 1.7M 21.68
Buy Not Hit.
PWN 05/07 BO 11.9 +0.4 11.66 13.94 321K 117K 11.18
Current.
QLGC 05/17 Test BO 47.8 +2.04 46.78 54 4.7M 8M 44.65
Buy Not Hit.
QLGC 03/15 Test BO 47.8 +2.04 38.85 45 4.7M 11M 44.24
Current.
QLGC 11/07 Test BO 47.8 +2.04 41.4 50 4.7M 25M 44.24
RHAT 05/27 Test 18 7.26 +0.35 7.45 8.94 1.3M 1.4M 6.93
New.
RMD 05/03 Test BO 38.28 +0.88 37.75 43.75 271K 322K 35.92
Buy Not Issued.
ROOM 04/26 Cup 88.75 +3.02 68.75 94 721K 1.7M 80.55
SLAB 05/17 Put 28.71 +2.08 26.05 23.55 1.2M 1.1M 27.65
Exited.
SNPS 05/21 Cup hdl 58.56 -0.09 52.72 60.75 2.8M 1.6M 50.05
Buy Not Issued.
SSYS 03/01 Cup hdl 29.1 +2.17 12.25 15.45 504K 110K 26.22
Current.
STK 04/28 Cup hdl 25.4 +0.37 26.55 31 646K 1M 25
Buy Not Issued.
TWTC 05/13 A Wedge 5.68 -0.11 4.08 5.85 1M 522K 4.85
Current.
UCOMA 03/31 Cup hdl 4.65 0 3.35 4.48 806K 875K 4.21
Current.
WFII 04/30 Cup 10 +0.15 7.55 9 784K 261K 8.78
Current.
WSTC 05/24 Test 18 24.54 -0.07 24.88 28 174K 215K 23.82
Buy Not Hit.
YHOO 12/11 Test 50 29.97 +1.48 17.32 25 22M 20M 25.92
Current.
Good Investing!
Jon L. Johnson and your Technical Traders Report 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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stock recommendation
stock market report
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