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us stock market, stock split
Begin part 2 of 2
THE PLAYS
Monday night play results:
CHRD: Up off the 10 day MVA on some rising, average volume. Looks really good.
MCTR: Blasting higher on a strong volume surge.
TZIX: Decided to test the 10 day MVA once again on the low and rebounded.
New Plays for Tuesday:
Play Date: 07/29/2003
IPXL (Impax Labs--$13.39; +1.39; optionable): Generic drugs
http://biz.yahoo.com/p/i/ipxl.html
STATUS: Cup w/handle. IPXL is in the process of the breakout, surging Tuesday on very strong trade. It is in a large 19 month base, but has formed a series of smaller bases as it moves up to make the current breakout from the larger pattern. It borke from a 8 month base in may on a huge volume surge. It rallied up the 10 day MVA to 12 and has since fomred the current 7 week flat move tha tis acting as the handle to the big base. Accumualtion in the prior base was a solid 7 to 5 (7 up weeks on rising volume to 5 down weeks on rising volume), and remained positive in the current lateral move at 2 to 1. Thus there are net buyers of the stock as it has worked toward the breakout. Excellent money flow and a relative strength breakout indicate the strength of this pattern and the current move.
Volume: 1.457M Avg Volume: 506.181K
BUY POINT: $13.48 Volume=759K Target=$16.25 Stop=$11.96
POSITION: UPR KV - Nov. $12.50c (65 delta) &/or Stock
http://www.investmenthouse.com/cd/ipxl.html
Play Date: 07/29/2003
ULCM (Ulticom--$12.09; +0.54; optionable): Wireless communications
http://biz.yahoo.com/p/u/ulcm.html
STATUS: Cup w/handle. A base on base pattern, ULCM broke out of a 6 month base in mid-May, that base sporting strong 5 to 2 accumulation. It surged over 11 and then has formed the current short 5 week base sporting solid 2 to 1 accumulation. Tuesday ULCM was moving for the breakout but did not have enough volume. Solid money flow and relative strength is already breaking out, a bullish sign. Looks very nice here as wireless remains hot.
Volume: 84.855K Avg Volume: 124K
BUY POINT: $12.22 Volume=186K Target=$14.96 Stop=$11.36
POSITION: UUL JV - Oct. $12.50c (46 delta) &/or Stock
http://www.investmenthouse.com/cd/ulcm.html
Continuing that still look excellent:
Play Date: 07/28/2003
CHRD (Chordiant Software--$2.50; +0.23; no options): Technical and system software
http://biz.yahoo.com/p/c/chrd.html
STATUS: Testing the breakout. Starting off the 10 day MVA (2.20) on solid but not breakaway volume. CHRD blasted out of an 8 month cup with handle base in June, rallied up to 2.51, and has tested that move. Excellent accumulation in the base at 8 to 3 (8 up weeks on rising volume to 3 down weeks on rising volume) set the foundation, and excellent money flow and a relative strength breakout show the strength.
Volume: 628.511K Avg Volume: 553.181K
BUY POINT: New: $2.55 (orig. $2.43) Volume=822K Target=$3.12 Stop=$2.18
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/chrd.html
Play Date: 07/29/2003
TSCO (Tractor Supply--$55.51; -0.17; optionable): Ranch stuff
http://biz.yahoo.com/p/t/tsco.html
STATUS: Testing the breakout. TSCO blasted higher on its split announcement, and it is now giving us a very good and tight test of the move. Volume has backed off and the range is very tight as it pulls back to 55. It may test lower toward the 10 day MVA (53.78) before it finds support, even down to 52.50. Looking for a test of the 10 day and then a rebound on volume.
Volume: 241.549K Avg Volume: 329.363K
BUY POINT: $54.25 Volume=494K Target=$62.45 Stop=$52.25
POSITION: QTF JK - Oct. $55c (56 delta) &/or Stock
http://www.investmenthouse.com/cd/tsco.html
SUBSCRIBER PORTFOLIO: It is time to revamp the subsciber portfolio. The way we do it is have you vote on your favorite stocks for us to cover. Then when we get 8 or so with a majority we compile them.
We are also putting together a new leaders portfolio as this market consolidation should put some in better buying position. If you have any you feel are worthy of the leadership moniker, feel free to send them. We have several on our list already but will review any submissions.
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: CRAY; VVTV; SBUX; MERX
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
AMZN 05/03 BO 41.39 -0.69 30.3 35.45 7.8M 12M 37.45
Current.
AOS 07/24 Rv H&S 32.2 +0.25 33.05 40 65K 175K 30.94
Buy Not Hit. Very nice test of the 10 day MVA and rebound.
ASPM 06/30 FlyPlat 9.15 +0.21 8.65 10.42 29K 115K 7.88
Buy Not Issued.
ASTSF 07/12 Cup hdl 6.75 -0.09 6.5 8.25 323K 500K 6.25
Current.
ATSI 06/19 Cup hdl 3.87 -0.43 3.95 4.75 297K 225K 3.98
Exited.
ATYT 06/23 Cup hdl 12.05 +0.05 9.7 11.88 4.6M 2.4M 10.44
Current. Gapped higher on another strong move but gave most of it back.
BEV 07/26 Test BO 5.67 +0.38 5.54 6.94 1.7M 1.4M 5.08
Current. Really nice volume surge over the recent high.
C 04/18 Rv H&S 45.44 -0.36 41.25 48.55 12M 23M 44.62
Current.
CHGO 06/14 Test BO 11.15 -0.05 10.08 12.05 76K 140K 11
Current. Hanging on at the 18 day MVA with a doji with tail. Will see if that can trigger a move back up.
CHRD 07/28 Test BO 2.5 +0.23 2.43 3.12 629K 822K 2.18
Buy Not Issued. Not bad. Good push higher and it only needs some more
volume.
COLT 07/24 BO 5.58 -0.06 5.15 6.45 153K 200K 4.79
Buy Not issued.
CRAY 07/22 Test BO 9 -0.08 9.78 11.75 1.2M 1.4M 9.11
Buy Not Hit. Very nice 18 day MVA test.
CSTL 07/09 Cup hdl 4.18 +0.09 4.2 5.2 92K 200K 3.94
Tapped the 18 day MVA and rallied up on some stronger volume.
DKS 03/18 DB hdl 38.8 -0.95 23.81 28.42 244K 225K 35.94
Current.
DKS 02/19 DB hdl 38.8 -0.95 22.75 27.35 244K 225K 35.94
Current.
EBAY 12/12 Test 18 108.14 -2.75 69.45 92 9M 12M 105.55
Current. Fell below the 18 day MVA on rising, above average volume. Looks like a 50 day MVA test is coming. Decide If want to rid positions or take the gains.
EBAY 10/15 Test 50 108.14 -2.75 62.45 92 9M 12M 105.55
Current.
EGO 06/25 Cup hdl 2.04 0 1.88 2.45 262K 210K 1.91
Current.
FLSH 05/22 Test BO 14.98 +1.03 10.55 12.75 609K 195K 13.02
Current. Gapped higher on strong volume. Nice.
FLSH 05/12 Rv H&S 14.98 +1.03 9.2 10.96 609K 195K 13.02
Current.
HPOL 07/08 Test BO 8.01 +0.16 7.22 8.95 512K 541K 6.68
Current.
HPOL 06/14 Test BO 8.01 +0.16 6.7 8.38 512K 541K 6.68
Current.
IACI 07/13 Test BO 40.11 -0.88 42.28 48.85 5.8M 12M 39.32
Current. Still at the 18 day MVA on below average volume.
IACI 03/25 Cup hdl 40.11 -0.88 29.12 33.55 5.8M 8.3M 39
Current.
IBM 06/14 81.8 -0.74 0 0 7.3M 0 0
Buy Not Issued.
IPXL 07/29 Cup hdl 13.39 +1.39 13.48 16.25 1.5M 759K 11.96
New.
KFY 06/28 Cup hdl 9.49 -0.01 9.05 10.95 173K 130K 9.05
Current. Holding up well over the 18 day MVA as volume moved higher.
KLAC 07/19 Cup hdl 52.4 -0.85 52.25 60 9.3M 14M 49.85
Current. Holding up well over 52.
LIOX 07/16 Test 18 6.39 +0.24 6.58 8.05 442K 400K 5.92
Current. Solid move off the 10 day MVA on volume.
LPSN 07/07 BO 2.69 +0.09 2.22 2.95 1.1M 320K 2.23
Target hit. Hit the target and took the gain.
MCTR 07/28 Test BO 2.6 +0.37 2.45 3.35 1M 367K 2.28
Buy Not Issued. This one made us cry. It was dead on but we had an
alert malfunction. Super move and still a buy on this
breakout.
MERX 07/15 Cup hdl 9.5 +0.02 10.26 12.45 78K 248K 9.54
Buy Not Hit.
MKSI 07/21 Cup hdl 22.76 -0.98 22.25 27.95 291K 488K 20.96
Current.
MKSI 07/14 Cup hdl 22.76 -0.98 22.8 27.95 291K 488K 21.12
Current.
MU 07/19 Cup hdl 14.52 -0.05 15.4 18.35 7.7M 16M 14.32
Current. Holding up well at the 18 day MVA on low volume despite the chip selling.
MYL 07/22 Put 33 -0.15 30.96 28 1.1M 1.5M 32.05
Buy Not Hit.
NTN 07/26 FlyPlat 2.49 -0.01 2.44 3.32 391K 200K 2.18
Current.
ONNN 06/21 Test BO 3.51 +0.03 3 3.75 385K 900K 3.18
Current.
PDLI 06/19 Put 13.9 -0.21 14.75 12.04 1.6M 2.5M 14.25
Current. Flirting with the 50 day MVA and 14, its key level.
PHMD 07/17 Test BO 2.8 +0.05 2.9 3.75 237K 150K 2.68
Current.
RATE 07/15 FlyPlat 14.19 -0.07 14.8 17.88 230K 312K 14.02
Current. Holding the 18 day MVA with a doji on rising volume.
RCII 01/11 Test BO 78.39 -2.49 0 0 523K 0 71.75
Sold hard through the 50 day MVA.
SBUX 07/01 Cup 26.38 -0.23 26.3 30.94 3M 6M 25.85
Current. Still getting ready for the next move, holding at the 18 day MVA.
SINA 06/26 Test 18 36.72 +0.44 17.71 21.25 11M 4M 29.45
Current.
SOHU 06/26 Test 50 40.8 +1.07 29.9 35.88 3.7M 2.5M 36.55
Current.
STST 07/07 Test BO 18.06 +0.39 15.29 18.12 38K 103K 16.58
Current. Forming up nicely along the 10 day MVA on very low volume. May be ready for another move soon.
TEVA 01/11 A Wedge 58 +1.25 0 0 4.1M 5M 53.75
TMWD 06/11 Test BO 2.84 +0.03 2.32 3.25 196K 140K 2.78
Exited with a trailing stop.
TPTH 06/18 A Wedge 7.11 -0.2 7.4 8.95 36K 352K 6.98
Current.
TSCO 06/03 Rv H&S 55.51 -0.17 46.85 55.25 242K 603K 50.45
Current.
TSCO 04/24 Cup hdl 55.51 -0.17 43.75 52 242K 603K 50.45
Current.
TSCO 04/03 Rv H&S 55.51 -0.17 38.6 44.38 242K 577K 50.45
Current.
TZIX 07/21 Rv H&S 7.65 -0.09 7.7 9.45 107K 200K 6.96
Current. Holding well at the 10 day MVA with a nice tap at that level and rebound.
UBET 07/22 Cup hdl 3.83 -0.4 4.12 5.15 1.5M 920K 3.74
Current. Tried to rally again, but the gap higher was dumped back on stronger volume. Needs to hold the 10 day MVA.
ULCM 07/29 Cup hdl 12.09 +0.54 12.22 14.96 85K 186K 11.36
New.
UNTD 07/12 Test BO 30.19 +0.01 28.8 34.12 1.3M 2.1M 27.72
Current.
UNTD 05/29 Flat 30.19 +0.01 23.45 28 1.3M 2M 27.72
Current.
VRTS 08/19 CCall 31.12 +0.37 19.76 20 17M 8.5M 28
Current. Offered some convertibles and it did not seem to hurt the stock.
VVTV 07/19 Cup hdl 16.18 +0.08 16.38 19.75 148K 250K 15.23
Buy Not Issued. Still in a very good pattern.
WMT 02/05 Put 55.49 -0.67 0 0 7.6M 8.2M 0
WWCA 07/23 BO 14.53 -0.07 14.48 17.45 506K 824K 13.47
Current. Nice tight doji on the 10 day MVA as it works higher.
WWCA 05/22 BO 14.53 -0.07 11.42 13.85 506K 824K 13.35
Current.
YHOO 12/11 Test 50 31.56 -1 17.32 25 8.5M 20M 32.15
Current. Fell through the 18 day MVA on rising though still very low volume.
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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us stock market
stock split
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