stock recommendation, stock option

Begin part 2 of 2

THE PLAYS

Good movers Thursday: LGTO; NENG; ONXX; OVRL; UCOMA; VSAT; XING

NEW PLAYS:

Upside:

Play Date: 06/12/2003
GWW (W.W. Grainger--$48.68; +0.09; optionable): Wholesale electronics
http://biz.yahoo.com/p/g/gww.html
STATUS: Cup w/handle. GWW is forming the handle to a 6.5 month base, the part of the pattern where the last sellers are shaken out as th estock fades after a nice move higher. Accumulation in the base is solid as 8 up weeks on rising volume to 6 down weeks on rising volume. Money flow is huge, rallying up ahead of the stock price. GWW was up off the 10 day MVA (48.25) Thursday on volume that surged back above average. Need to see a strong breakout.
Volume: 553.7K Avg Volume: 502.59K
BUY POINT: $49.55 Volume=754K Target=$54 Stop=$47.95
POSITION: GWW JJ - Oct. $50c (46 delta)
http://www.investmenthouse.com/ct/gww.html

Downside:

Play Date: 06/12/2003
AFL (Aflac--$30.88; -1.01; optionable): Accident & health insurance
http://biz.yahoo.com/p/a/afl.html
STATUS: Head & shoulders. The duck is in trouble. It is breaking down from a 3 month head and shoulders, slicing through the 200 day MVA (31.49) on rising, above average volume. This is the second undercut in three sessions as AFL tried a weak, low volume bounce Wednesday as the techs and Nasdaq bounced back up. The test of the 18 day MVA (32.15) did not last and it rolled over on strong volume. We are looking at positions here on this breach and on any test of the 200 day on a low volume bounce back up.
Volume: 2.897M Avg Volume: 2.031M
BUY POINT: $30.78 Volume=2.8M Target=$28 Stop=$31.85
POSITION: AFL TG - Aug. $35p (-82 delta)
http://www.investmenthouse.com/ct/afl.html

CONTINUING PLAYS:

Play Date: 06/05/2003
BMRN (Biomarin Pharmaceuticals--$12.74; +0.24; optionable): Drugs
http://biz.yahoo.com/p/b/bmrn.html
STATUS: Cup w/handle. BMRN is working through the handle of an 18 month base. The handle is 2.5 months long, forming its own little cup base over the 50 day MVA (11.54). Volume is starting to surge the past week, running high on up sessions and backinf off on down sessions. That activity indicates heavy buying. What we need to see from BMRN is another strong volume move through the buy point that holds toward the close.
Volume: 1.032M Avg Volume: 808.454K
BUY POINT: $13.36 Volume=1.1M Target=$16.15 Stop=$12.35
POSITION: NUR JV - Oct. $12.50c (64 delta) &/or Stock
http://www.investmenthouse.com/ct/bmrn.html

Play Date: 05/03/2003
HIL (Dot Hill Systems--$10.75; +0.07; no options): PC data storage devices
http://biz.yahoo.com/p/h/hil.html
STATUS: Testingt the breakout. Still testing the strong breakout from March, moving laterally over the 10 day MVA, testing it on the low (10.40) and rebounding. Volume was still low as it moves laterally as money flow remains strong. Looking for another strong move higher from here to kick off the next leg.
Volume: 141.6K Avg Volume: 328.318K
BUY POINT: New: $10.88 (orig. $7.45) Volume=250K Target=$13 (new positions); Orig: $8.96 Stop=$9.75
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/hil.html

Play Date: 06/04/2003
HPOL (Harris Interactive--$6.23; +0.03; no options): Internet software & services
http://biz.yahoo.com/p/h/hpol.html
STATUS: Testing the breakout. Volume is starting back up, moving to average Thursday as HPOL cointinued the move up off the 18 day MVA test. Continued rising volume on a move through the buy point is the next entry. Excellent money flow and accumulation.
Volume: 386.583K Avg Volume: 335.727K
BUY POINT: New: $6.28 (orig. $5.85) Volume=541K Target=New positions: $7.96 (orig. positions: $6.95) Stop=$5.38
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/hpol.html

Play Date: 06/11/2003
OVRL (Overland Storage--$19; +0.69; optionable): PC data storage.
http://biz.yahoo.com/p/o/ovrl.html
STATUS: Cup w/handle. OVRL formed a short 7-week base, about the minimum for this pattern. It was very neat, holding the 50 day MVA (17.22) at the base bottom. Volume was low and has swelled the past week. One last low volume shakeout Tuesday and Wednesday set up a huge volume move Friday off the 10 day MVA. Looking for more on a continued volume move.
Volume: 482.7K Avg Volume: 117.954K
BUY POINT: $19.22 Volume=125K Target=$22.85 Stop=$17.78
POSITION: QOJ HW - Aug. $17.50c (57 delta) &/or Stock
http://www.investmenthouse.com/ct/ovrl.html

Downside:

Play Date: 06/09/2003
AFCI (Advanced Fibre Comm.--$16.32; +0.29; optionable): Telecom equipment
http://biz.yahoo.com/p/a/afci.html
STATUS: Put. AFCI tanked through the 200 day MVA (16.42) 5 sessions back on huge volume. It found some support at 15 and bounced, but volume is backing down as it approaches the 200 day once again. Some pretty heavy distirbution, and looking for AFCI to roll over and fall to the April lows.
Volume: 1.623M Avg Volume: 1.439M
BUY POINT: $16.25 Volume=1.8M Target=$14 Stop=$16.95
POSITION: AQF UW - Sept. $17.50p (-70 delta)
http://www.investmenthouse.com/ct/afci.html

WATCHLIST/ CONTINUING:

Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
ADVP 05/20 Cup hdl 38.94 -0.83 32.85 39.22 2.3M 2M 35.38
Current.

AETH 05/14 Cup hdl 5.16 +0.02 4.45 5.45 219K 244K 4.72
Current.

AFCI 06/09 Put 16.32 +0.29 16.25 14 1.6M 1.8M 16.95
Buy Not Hit. Now it may be ready, having rallied up to the 200 day
MVA on lower, average volume.

AFL 06/12 H&S 30.88 -1.01 30.78 28 2.9M 2.8M 31.85
New.

AMCC 05/31 Cup hdl 6.3 +0.05 5.45 7.15 5.9M 4.5M 5.45
Current.

AMI 06/09 Test BO 12.93 -0.48 12.55 15.25 87K 220K 11.67
Buy Not Issued.

AOS 05/17 Test BO 31.9 +0.1 32.06 37.65 65K 136K 30.88
Buy Not Issued.

APC 05/21 Cup hdl 46.28 -0.15 50.04 57.88 3.8M 3M 48.15
Current.

APOL 05/27 Test 50 59.78 -0.68 55.07 62 1.3M 2.7M 56.58
Current.

AXP 06/19 Put 43.64 -0.01 37.75 34.05 3.4M 500K 41

BCR 05/10 A Wedge 72.81 +0.27 64.4 73.75 348K 477K 68.28
Current.

BEAS 06/11 Cup 11.76 -0.05 12.06 14.55 11M 15M 11.22
Buy Not Hit.

BGEN 05/24 Rv H&S 45.47 -0.11 42.35 49.55 2.4M 4.5M 43
Current.

BIO 06/03 FlyPlat 59.15 +0.2 61 71 200K 226K 57.22
Current.

BLTI 02/10 Test BO 13.9 -0.08 7.2 13.45 423K 300K 13.25
Current.

BMRN 06/05 Cup hdl 12.74 +0.24 13.36 16.15 1M 1.1M 12.35
Current.

BPOP 05/22 Test BO 39.89 -0.19 37.95 44 285K 200K 39.15
Current.

BPOP 04/03 Cup hdl 39.89 -0.19 35.25 40.45 285K 200K 39.15
Current.

CCU 05/17 Cup hdl 42.83 +0.98 42.15 48.45 2.9M 6.9M 40.64
Current.

CDWC 06/07 H&S 42 +0.97 39.2 36.05 1.9M 2.5M 41.35
Current.

CFW 06/11 Cup hdl 7.65 0 7.75 9.35 117K 118K 7.21
Buy Not Hit.

CKP 05/31 Test 18 13.8 0 13.92 16.75 68K 250K 13.25
Buy Not Issued.

CLRS 06/04 Test BO 6.24 +0.3 6.28 7.55 171K 92K 5.84
Buy Not Hit.

CVH 03/31 BO 45.85 -0.27 40.25 47.25 856K 815K 42.75
Current.

CY 06/10 Test BO 12.33 +0.12 12.55 15.12 2.8M 3.5M 11.67
Buy Not Hit.

CY 03/04 Cup hdl 12.33 +0.12 6.7 8.65 2.8M 2.3M 11.48
Current.

DAKT 06/09 Test BO 17.33 +0.1 17.75 21.35 136K 168K 16.51
Buy Not Issued.

DANKY 06/02 Cup hdl 4.45 -0.1 4.95 6.25 207K 1M 4.59
Buy Not Hit.

DT 06/09 Rv H&S 14.79 +0.11 15.32 18.45 378K 935K 14.25
Buy Not Hit.

EPIC 05/08 FlyPlat 4.77 +0.1 3.15 4 131K 145K 4.12
Current.

EXTR 05/17 Test BO 5.98 +0.2 5.45 7.42 2.5M 4.5M 5.85
Current.

FDX 03/24 Cup hdl 64.97 +0.48 57.85 66 2M 2.2M 62.05
Current.

FLIR 05/08 PreSplt 30.85 -0.1 25.85 29.38 593K 401K 28.94
Current.

FLSH 05/22 Test BO 10.88 -0.17 10.55 12.75 232K 195K 10.68
Current.

FLSH 05/12 Rv H&S 10.88 -0.17 9.2 10.96 232K 195K 10.75
Current.

GLDN 06/07 Test 18 23.01 -0.2 23.45 28.45 85K 109K 21.94
Buy Not Issued. Still in a really nice lateral pullback, holding the
10 day MVA on the close as volume finally started to
surge. Could be ready now.

GPRO 04/05 Dbl btm 37.98 -1.15 26.5 30.75 1.1M 521K 36.44
Current.

GRMN 11/06 Cup hdl 50.2 +0.42 22.34 37.45 363K 198K 46.95
Current.

GSPN 05/24 Test BO 9.05 +0.04 7.42 10 2.1M 2.8M 7.72
Current.

GWW 06/12 Cup hdl 48.68 +0.09 49.55 54 554K 754K 47.95
New.

HIL 05/22 Test BO 10.75 +0.07 9.2 11.2 142K 250K 9.75
Current.

HIL 05/03 BO 10.75 +0.07 7.45 8.96 142K 250K 9.75
Current.

HPOL 06/04 Cup hdl 6.23 +0.03 5.85 6.95 387K 541K 5.38
Current.

HTCH 05/14 A Wedge 31.49 +0.89 29 33.35 385K 802K 30.95
Current.

HYSL 06/04 Cup hdl 35.48 -0.53 33.05 39.66 836K 1.1M 32.25
Current.

ICOS 05/31 Test BO 44.1 -1.07 34.25 40 4.7M 2.8M 36.55
Target Hit.

ICST 05/29 A Wedge 28.8 -0.75 25.5 29.75 2M 2.5M 26.55
Current.

IDBE 04/16 Rv H&S 11.92 +0.09 8.17 11 157K 376K 10.55
Current.

IMMU 06/10 Cup hdl 7.87 +0.25 7.88 9.75 500K 500K 7.28
Buy Not Hit.

JEC 06/07 Put 39.84 +1.06 38.1 35.75 503K 550K 39.55
Current.

JPM 05/24 Test BO 34.7 +0.16 32.58 36.45 9.6M 1.2M 33.25
Current.

JPM 04/01 Test BO 34.7 +0.16 24.96 28.55 9.6M 1.2M 33.25
Current.

LGTO 06/11 Test 18 8.71 +0.51 8.7 10.28 2.9M 3M 7.92
Current.

LGTO 06/10 Test BO 8.71 +0.51 8.7 10.28 2.9M 2M 7.94
Current. Started the next leg with an excellent volume jump.

LGTO 05/22 A Wedge 8.71 +0.51 7.06 8.75 2.9M 2M 7.44
Current.

MCCC 06/07 Flat 10.72 +0.07 10.65 12.88 441K 805K 9.65
Buy Not Issued.

MCDTA 04/30 Cup 13.57 +0.03 11.15 13.58 2.7M 2.7M 12.05
Current.

MED 05/22 Test BO 12.25 -0.16 10.62 12.78 332K 145K 12.05
Current.

MED 04/28 Cup hdl 12.25 -0.16 8.7 10.42 332K 145K 12.05
Current.

MER 04/28 Cup hdl 47.75 +0.41 43.32 49.55 5.3M 7.5M 43.55
Current.

MERQ 05/12 Cup hdl 43.07 -0.43 38.95 45.35 3.1M 6.8M 38.88
Current.

MOBE 04/24 Cup 3.85 +0.25 1.88 2.38 338K 110K 2.65
Current.

MVL 03/03 BO 22.7 +1.66 11.82 21 2.3M 675K 21.88
Current.

NBIX 05/03 Cup 53.5 +0.25 48.2 54.25 508K 600K 54.25
Current.

NCN 05/21 Cup hdl 9.58 -0.26 8.65 10.48 747K 254K 8.50
Current.

NENG 05/05 Cup hdl 3.08 +0.31 2.08 3.44 564K 232K 2.42
Current.

NETE 06/07 FlyPlat 6.1 +0.01 6.74 8.12 240K 560K 6.22
Buy Not Issued.

NSCN 04/23 Cup hdl 23 -0.61 21.17 25.42 1.1M 2.5M 22.45
Current.

NTN 05/07 Test BO 2.09 +0.01 1.95 2.75 182K 183K 1.98
Current.

NVDA 05/08 Test BO 25.45 -0.39 22.62 27 8.7M 11M 23.15
Current.

NWK 04/28 DB hdl 8.99 +0.04 7.11 9.45 114K 256K 8.38
Current.

ONXX 06/11 Test BO 13.2 +0.74 13 14.78 653K 387K 11.94
Current.

ONXX 05/19 Rv H&S 13.2 +0.74 10.55 12.25 653K 300K 11.12
Current.

OVRL 06/11 Test BO 19 +0.69 19.06 22.85 483K 125K 17.78
Current. Outstanding voluem surge off the 10 day MVA.

PKI 03/04 Test BO 13.25 -0.45 9.16 13.55 952K 1M 12.92
Current.

PRGO 06/03 Test BO 15.58 +0.4 15.28 18.35 345K 432K 14.21
Buy Not Issued.

PWN 05/07 BO 12.45 -0.24 11.66 13.94 57K 117K 11.95
Current.

QLGC 05/17 Test BO 48.38 -0.5 46.78 54 4.7M 8M 46.25

QLGC 03/15 Test BO 48.38 -0.5 38.85 45 4.7M 11M 47.88
Current.

QLGC 11/07 Test BO 48.38 -0.5 41.4 50 4.7M 25M 47.88

RHAT 05/27 Test 18 8.16 +0.07 7.94 9.55 1.4M 1.4M 7.38
Current.

RMBS 04/09 A Wedge 17.78 +0.03 17.55 21.45 655K 6.8M 16.94
Current.

RMD 05/03 Test BO 41.2 -0.08 37.75 43.75 96K 322K 38.55

ROOM 04/26 Cup 90.39 -0.28 68.75 94 352K 1.7M 86.25

SGMS 05/29 Test BO 7.62 +0.13 8.08 9.95 207K 571K 7.51
Buy Not Hit.

SRCL 06/10 Put 37.21 +0.19 37.75 35 444K 900K 39.65
Buy Not Hit. Edging higher toward the reversal point; may only make
it to 37.50.

SRNA 05/28 Rv H&S 20.93 -0.07 20.42 24.45 454K 700K 19.36
Current.

STEL 06/02 Cup hdl 6 -0.16 6.05 8.22 253K 222K 5.54
Current.

TWTC 05/13 A Wedge 6.88 -0.04 4.08 5.85 608K 522K 5.85
Current.

UCOMA 03/31 Cup hdl 5.1 +0.19 3.35 4.48 838K 875K 4.62
Current.

VSAT 06/04 Flat 13.92 +0.67 14.03 17.15 1.2M 192K 12.94
Current. Outstanding volume surge as VSAT broke free.

WFII 04/30 Cup 10.22 +0.13 7.55 9 331K 261K 9.75
Current.

WSTC 05/24 Test 18 27.99 +0.45 25.2 28.38 172K 215K 25.15
Current.

XING 06/02 Test BO 9.92 +1.94 5.75 8.25 1.5M 230K 8.25
Target Hit. Outstanding surge. Took some gain, let some ride. It
kept right on running. On another move higher we may
take the rest off the table for a quick 100% return.

YHOO 12/11 Test 50 29.7 +0.1 17.32 25 13M 20M 27.55
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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