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Begin part 2 of 2
THE PLAYS
Good moves Wednesday: Very nice session. AMZN; ASTSF; EBAY; EGO; FLSH; IACI; LPSN; MKSI; RATE; MU; TSCO; UNTD; WWCA
Tuesday night play results:
CRAY: Tried to make the move, gapping higher, but then faded as volume was low. Still in a very solid pattern.
UBET: Tightening up even more on low volume at the 10 day MVA.
MYL: Jumped back up on rising volume.
VVTV: Still holding a very nice pattern.
SBUX: Still working on the brekaout.
New Plays for Thursday:
Upside:
Play Date: 07/23/2003
BRIO (Brio Technology--$3; +0.3; no options): Business software
http://biz.yahoo.com/p/b/brio.html
STATUS: Cup w/handle. BRIO is in the process of breaking out of a 9 week base showing excellent accumulation at 4 to 1 (4 up price weeks on rising volume to 1 down price week on risign volume). Money flow is surging, both before and during this breakout. It reports earnings on Monday, 7-28 before the open; that makes this somewhat aggressive, but the nice price pattern and breakout suggest something positive is up.
Volume: 1.492M Avg Volume: 178.863K
BUY POINT: $3.08 Volume=300K Target=$4.25 Stop=$2.86
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/brio.html
Play Date: 07/23/2003
CORV (Corvis--$1.41; +0.02; no options): Telecom equipment
http://biz.yahoo.com/p/c/corv.html
STATUS: Pennant. CORV broke out of a six month reverse head and shoulders base in May (a pretty common pattern at that time) and surged to 1.75 on the high before stalling out and starting this lateral move to consolidate the storng move higher. The pennant has started to tighten up this month, holding a very tight range along the 18 day MVA (1.40). The 50 day MVA (1.29) has been rising slowly to meet the stock price as it works laterally on very low volume. Accumulatoni remains solid and money flow is moving higher as the stock works laterally. These very quiet, narrow trading ranges lull you to sleep and then they explode higher.
Volume: 1.651M Avg Volume: 7.412M
BUY POINT: $1.55 Volume=11M Target=$2 Stop=$1.38
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/corv.html
Continuing plays:
Play Date: 06/23/2003
ATYT (ATI Technologies--$10.91; +0.23; optionable): Semiconductors
http://biz.yahoo.com/p/a/atyt.html
STATUS: Testing the breakout. Broke out of a 7 month cup with handle base in late June, rallied to 11, and is now testing the breakout this month in a lateral move over the 18 day MVA (10.38). ATYT has started to edge higher this week after the test of the 18 day. Volume is edging higher as the stock approaches 11. The next breakout point is over the July highs (11.33). Outstanding accumulation and money flow.
Volume: 2.211M Avg Volume: 2.215M
BUY POINT: New: $11.38 (orig. $9.70) Volume=2.4M Target=New positions: 13.65 (orig. positions $11.88) Stop=$9.74
POSITION: QFY KB - Nov. $10c (71 delta) &/or Stock
http://www.investmenthouse.com/cd/atyt.html
SUBSCRIBER PORTFOLIO:
AMZN 05/03 BO 40.11 +5.24 30.3 35.45 32M 12M 37.45
Current. Now that is an explosive move off the 50 day MVA. Earnings blowout and a mad rush into the stock. Just letting it work for us once again.
CONTINUING/WATCHLIST:
LEGEND
DATE: date play first appeared on report.
PLAY: Denotes the type of pattern or play.
Upside play types: A Wedge=Ascending triangle/wedge; BO=Breakout; Cup=Cup base; Cup hdl=Cup w/handle; DB hdl=Double bottom w/handle; Dbl btm=Double bottom; Flat=Flat base; FlyPlat=Flying Plateau; Pennant=Pennant; Rv H&S=Reverse head & shoulders; Saucer=Saucer base; Test 18=Testing 18 day MVA; Test 50=Testing 50 day MVA; Test BO=Testing the breakout (could be 10 day MVA test, etc.)
Downside play types: CCall=Covered Call; DWedge=Descending triangle/wedge; Dbl Top=Double top; H&S=Head & shoulders; Put (generic downside);
PIVOT=Buy point
Tgt=Target stock price for the play. Applies to stock and options.
Vol=Volume for the most recent session.
TgtV=Target volume to enter the play.
Stop=Stop advisory point. This is advisory and we may or may not exit a play if it hits this level depending upon market conditions.
These still look ready: MERX; SBUX; CRAY; HPOL; UBET
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
ADRX 07/19 Put 19.22 +0.01 18.62 16 755K 1.8M 19.95
Buy Not Issued.
AMZN 05/03 BO 40.11 +5.24 30.3 35.45 32M 12M 37.45
Current. Now that is an explosive move off the 50 day MVA. Earnings blowout and a mad rush into the stock. Just letting it work for us once again.
ASPM 06/30 FlyPlat 8.24 +0.05 8.33 10 22K 115K 7.72
Buy Not Issued. Tried the break again but no volume.
ASTSF 07/12 Cup hdl 6.69 +0.24 6.5 8.25 494K 500K 6.25
Current. Up off the 10 day MVA on some rising, average volume. Now it looks ready to continue the move.
ATSI 06/19 Cup hdl 4.39 +0.18 3.95 4.75 61K 225K 3.98
Current. Nice lateral move over the 10 day MVA.
ATYT 06/23 Cup hdl 10.91 +0.23 9.7 11.88 2.2M 2.4M 9.74
Current.
BDY 07/16 Test BO 18.05 +0.12 19.06 22.88 40K 376K 17.73
Buy Not Hit.
BRIO 07/23 Cup hdl 3 +0.3 3.08 4.25 1.5M 300K 2.86
New.
C 04/18 Rv H&S 45.64 +0.19 41.25 48.55 10M 23M 44.62
Current. Very tight and boring move over the 10 day MVA. It is taking a rest and now we see if it can deliver the next move.
CBIZ 06/24 Cup hdl 3.41 +0.05 3.33 4.45 68K 212K 3.12
Buy Not Issued.
CHGO 06/14 Test BO 11.48 +0.22 10.08 12.05 62K 140K 11
Current. Up off the 18 day MVA but still below average volume.
CORV 07/23 Pennant 1.41 +0.02 1.55 2 1.7M 11M 1.38
New.
CRAY 07/22 Test BO 9.25 -0.11 9.78 11.75 587K 1.4M 9.11
Buy Not Hit. Still a very solid pattern.
CSTL 07/09 Cup hdl 3.87 -0.2 4.2 5.2 31K 200K 3.94
Current. Looked ready to run up off the 18 day MVA, but then fell right back Wednesday.
DKS 03/18 DB hdl 38.08 +0.13 23.81 28.42 129K 225K 35.94
Current.
DKS 02/19 DB hdl 38.08 +0.13 22.75 27.35 129K 225K 35.94
Current.
EBAY 12/12 Test 18 114.14 +2.97 69.45 92 5.8M 12M 105.55
Current. Nice dap with a gap up off the 18 day MVA on stronger volume.
EBAY 10/15 Test 50 114.14 +2.97 62.45 92 5.8M 12M 105.55
Current.
EGO 06/25 Cup hdl 2.07 +0.12 1.88 2.45 487K 210K 1.78
Current. Gapping higher on strong volume as it continues the strong move.
FCN 06/19 Put 26.42 +0.32 25.44 23 1.6M 1M 24.55
Exited.
FLS 07/21 Put 19.03 +0.77 17.25 14.45 1.2M 525K 18.45
Buy Not Issued.
FLSH 05/22 Test BO 13.55 +0.69 10.55 12.75 280K 195K 12.45
Current. Good jump off the 18 day MVA on strong volume.
FLSH 05/12 Rv H&S 13.55 +0.69 9.2 10.96 280K 195K 12.45
Current.
GRMN 07/17 Put 41.98 +0.9 39.54 36.48 295K 800K 40.72
Buy Not Issued.
HPOL 07/08 Test BO 7.1 +0.02 7.22 8.95 286K 541K 6.68
Current. Volume was up as the test lower Monday looks like a shakeout.
HPOL 06/14 Test BO 7.1 +0.02 6.7 8.38 286K 541K 6.68
Current.
IACI 07/13 Test BO 39.95 +1.49 42.28 48.85 7.1M 12M 39.32
Current. Gapped up off the 50 day MVA. A good start but needs more volume.
IACI 03/25 Cup hdl 39.95 +1.49 29.12 33.55 7.1M 8.3M 39
Current.
IBM 06/14 82.3 +0.45 0 0 5.3M 0 0
Buy Not Issued.
IGEN 01/11 A Wedge 37.78 -1.31 0 0 1.6M 375K 36
ILXO 07/19 Cup hdl 18.13 -0.47 21.75 26.12 150K 601K 19.96
Buy Not Hit.
KFY 06/28 Cup hdl 9.34 +0.12 9.05 10.95 89K 130K 8.88
Current. Up off the 18 day MVA but volume was falling. Needs to clear 9.50.
KLAC 07/19 Cup hdl 53.41 +1.11 52.25 60 10M 14M 49.85
Current. Another good day and a new high since the October low.
LIOX 07/16 Test 18 6.26 -0.41 6.58 8.05 647K 400K 5.92
Current. Gapped lower. Needs to hold 6.
LPSN 07/07 BO 2.14 +0.11 2.22 2.95 690K 320K 1.94
Current. Nice higher volume move up off the 18 day MVA. needs to get over 2.20 on this move.
MERX 07/15 Cup hdl 9.59 -0.01 10.26 12.45 59K 248K 9.54
Buy Not Hit.
MKSI 07/21 Cup hdl 23.5 +0.65 22.25 27.95 675K 488K 20.96
Current. Good volume move, clearing near resistance on volume.
MKSI 07/14 Cup hdl 23.5 +0.65 22.8 27.95 675K 488K 21.12
Current.
MU 07/19 Cup hdl 15.38 +1.08 15.4 18.35 22M 16M 14.32
Current. Super volume break higher.
MYL 07/22 Put 32.14 +1.04 30.96 28 2.5M 1.5M 32.05
Buy Not Hit.
NWRE 07/12 Test BO 17.39 -0.21 18.48 22.25 181K 900K 17.19
Buy Not Issued.
ONNN 06/21 Test BO 3.44 +0.1 3 3.75 159K 900K 3
Current. Still moving up off the 18 day MVA but on no volume.
PDLI 06/19 Put 13.93 -0.39 14.75 12.04 1.9M 2.5M 14.75
Current. At the 50 day MVA on low volume. Trying to drop but won't give it up. Ready to close it if no drop Thursday.
PHMD 07/17 Test BO 2.8 +0.02 2.9 3.75 225K 150K 2.68
Current. Still at the 10 day MVA as volume moved higher. Make or break time.
RATE 07/15 FlyPlat 15.45 +1.17 14.8 17.88 167K 312K 13.76
Current. Strong move higher off the 10 day MVA on volume.
RCII 01/11 Test BO 82.33 +1.13 0 0 294K 0 71.75
RNR 07/01 A Wedge 42.85 -4.95 47.32 55 4.4M 500K 45
Buy Not Issued. Tanked. Dropping.
SBUX 07/01 Cup 26.84 -0.05 26.3 30.94 2.4M 6M 25.85
Current. Still looks ready for the breakout.
SINA 06/26 Test 18 26.9 -1.17 17.71 21.25 9.5M 4M 25
Current. Gapped down to the 18 day MVA. After hours reported great earnings and was up over $1 for the session.
SKYF 06/21 Test 50 22.71 -0.14 21.78 25 152K 250K 20.95
Buy Not Issued.
SOHU 06/26 Test 50 36.3 -3.55 29.9 35.88 7.6M 2.5M 36.55
Current. Gapped below the 18 day MVA, but was up after the close.
STST 07/07 Test BO 18.36 +0.42 15.29 18.12 53K 103K 15.95
Current. Trying to get over 18.55 but no volume. May need to close the rest of the positions out now.
TEVA 01/11 A Wedge 53.05 -1.54 0 0 4.4M 5M 53.75
TMWD 06/11 Test BO 2.9 -0.1 2.32 3.25 224K 140K 2.78
Current. Gapped lower but bounced up off the 18 day MVA on volume.
TPTH 06/18 A Wedge 6.98 -0.01 7.4 8.95 189K 352K 6.98
Current. Testing the 50 day MVA with a tight doji as volume surged. May be ready to try again; needs it.
TSCO 06/03 Rv H&S 55.65 +3.02 46.85 55.25 593K 603K 48
Current. Outstanding run in progress as volume swells even more as it churns to a new all time high.
TSCO 04/24 Cup hdl 55.65 +3.02 43.75 52 593K 603K 48
Current.
TSCO 04/03 Rv H&S 55.65 +3.02 38.6 44.38 593K 577K 48
Current.
TZIX 07/21 Rv H&S 7.9 -0.05 7.7 9.45 516K 200K 6.96
Current. Raced ahead again but then gave the move back to show a doji. May pullback some after the strong breakout.
UBET 07/22 Cup hdl 3.61 -0.02 4.12 5.15 255K 920K 3.74
Buy Not Hit.
UNTD 07/12 Test BO 29.16 +1.7 28.8 34.12 1.2M 2.1M 26.78
Current. Nice volume jump off the 18 day MVA.
UNTD 05/29 Flat 29.16 +1.7 23.45 28 1.2M 2M 27
Current.
VOCL 07/10 Cup 4.1 -2 5.25 6.45 796K 125K 4.88
Exited. Took the rest of the money off the table after the
nice gain as VOCL gapped lower.
VRTS 08/19 CCall 27.91 +0.29 19.76 20 8.3M 8.5M 28
Current. Up well after hours.
VVTV 07/19 Cup hdl 15.75 -0.25 16.38 19.75 94K 250K 15.23
Buy Not Hit. Looks ready.
WMT 02/05 56.5 -0.4 0 0 5.2M 8.2M 0
Still consolidating over the 18 day MVA.
WWCA 05/22 BO 14.64 +0.56 11.42 13.85 2M 824K 12.42
Current. Nice volume break higher.
YHOO 12/11 Test 50 32.12 +0.87 17.32 25 10M 20M 32.15
Current. Up off the 50 day MVA on the AMZN news.
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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