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us stock market, stock recommendation
Begin part 2 of 2
Continuing plays that look ready:
Play Date: 07/28/2003
IMA (Inverness Medical--$20.9; 0; no options): Scientific & technical instruments
http://biz.yahoo.com/p/i/ima.html
STATUS: Ascending triangle. Another nice tight doji over the 10 day MVA, tapping that level on the low (20.75) and rebounding. Excellent 7 to 3 accumulation in the base, and that sets the foundation for a nice breakout.
Volume: 69.6K Avg Volume: 90.181K
BUY POINT: $21.42 Volume=115K Target=$25.72 Stop=$19.92
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/ima.html
Play Date: 08/02/2003
TKLC (Tekelec--$13.75; -0.11; optionable): Telecom systems
http://biz.yahoo.com/p/t/tklc.html
STATUS: Testing the breakout. Showing a nice hammer doji at the 10 day MVA (13.79) on lower and lower below average volume after the nice break higher. This is actually a very nice handle forming to the nice little 9 week base showing solid accumulation and excellent money flow. Just letting the pattern work through and give us a strong breakout. Looks very nice as telecoms are still holding up and are going to be the leaders again on the way back up.
Volume: 196.315K Avg Volume: 693.318K
BUY POINT: $14.78 Volume=1M Target=$17.75 Stop=$13.75
POSITION: KQ KC - Nov. $15c (46 delta) &/or Stock
http://www.investmenthouse.com/ci/tklc.html
Downside:
Play Date: 08/06/2003
GNTA (Genta, Inc.--$11.73; +0.06; optionable): Biotechnology
http://biz.yahoo.com/p/g/gnta.html
STATUS: Head and shoulders. GNTA is trying to hang on just below the neckline to the 2 month base at 23. It looks as if it might make one more test of the 50 day MVA (12.32) before rolling back down. Under distribution and the money flow is falling ahead of the stock.
Volume: 581.3K Avg Volume: 1.222M
BUY POINT: Test toward 12.30, then $11.94 on the way back down. Volume=1.1M Target=$9.76 Stop=$12.45
POSITION: GJU UV - Sept. $12.50c (-60 delta)
http://www.investmenthouse.com/ci/gnta.html
CONTINUING PLAY LIST:
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.
Still look good: CCMP; CELL; IMA; LLTC; MMSI; NTN; TKLC
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
ADI 08/04 Cup 37.27 -0.98 40.43 47.65 3.4M 5M 37.62
Buy Not Hit.
ADVP 08/07 H&S 36.52 +0.95 36.75 32.22 1.4M 1.8M 38.45
New.
AMEV 07/26 A Wedge 6.06 -0.05 5.75 6.88 42K 200K 5.52
Current. Holding the 10 day MVA on very, very low volume.
AMEV 06/07 Test BO 6.06 -0.05 4.75 6 42K 102K 4.44
Current.
BDY 07/16 Test BO 19.33 +0.05 19.58 23.25 271K 376K 18.21
Current. Trying to get off the dime on as it works over the 10 day MVA.
BEBE 07/01 Test BO 21.3 +0.01 20.9 24.95 127K 321K 21.62
Current. Continues to work on that new handle to the long base, so letting it go about its business.
BMRN 08/07 Put 8.77 +0.58 8.98 6.95 803K 1.3M 9.75
New.
CCMP 07/07 Cup hdl 59.55 -1.05 61.05 71 883K 1.3M 59.25
Current. Testing the 18 day MVA on rising volume.
CELL 07/21 Cup hdl 24.77 -1.59 19.25 23.25 387K 225K 24.35
Current. Fell to the 10 day MVA on higher volume. Let it ride but needs to bounce from here.
CHINA 06/21 Test BO 8.7 -1.57 7.95 9.55 24M 2.8M 11.78
Exited. Took the money off the table.
CHS 07/23 Test BO 26.99 -0.31 27.05 31.25 1.2M 2.2M 25.85
Current. Gapped higher on the retail sales news but then gave it all back. Still holding the 10 day MVA.
CMTL 08/05 Put 16.43 -0.39 16.24 14.12 169K 450K 17.56
Buy Not Issued.
CMVT 08/02 Dbl Top 13.62 -0.04 13.85 11.85 1.7M 3.5M 14.78
Current. Another doji below the 10 day MVA as it holds its downtrend.
COHU 07/24 Rv H&S 18.7 -0.15 19.85 23.88 170K 155K 19.12
Current. Nice tight doji on the 18 day MVA so left it to see if it could bounce.
COLT 07/24 BO 5.3 -0.09 5.3 6.68 59K 200K 4.93
Current. Nice below average volume test of the 18 day MVA.
CRAY 07/22 Test BO 10.9 -0.14 9.73 11.75 793K 1.4M 9.94
Current. Still testing back on low volume holding most of the gains.
CSC 08/04 DB hdl 42.06 -0.14 42.88 48.45 876K 2.4M 39.88
Buy Not Issued.
DCEL 08/05 Flat 5.95 -0.68 7.06 8.48 438K 726K 6.54
Buy Not Hit. Dropping.
DKS 03/18 DB hdl 36.77 +0.71 23.81 28.42 142K 225K 35.94
Current. Up off the 50 day MVA but still not garnering any trade.
DKS 02/19 DB hdl 36.77 +0.71 22.75 27.35 142K 225K 35.94
Current.
DRIV 08/06 Test 50 21.93 -0.57 22.62 26 783K 1.7M 21.04
Buy Not Issued. Started higher but backed off.
EBKR 08/04 BO 17.05 -0.65 19.55 23.48 48K 200K 18.09
Buy Not Hit.
EMBT 07/26 Cup hdl 7.48 -0.25 8.75 10.48 74K 400K 8.14
Buy Not Issued.
FLSH 05/22 Test BO 14.96 +0.43 10.55 12.75 201K 195K 14.42
Current. Starting the bounce up off the 18 day MVA.
FLSH 05/12 Rv H&S 14.96 +0.43 9.2 10.96 201K 195K 14.42
Current.
GNTA 08/06 H&S 11.73 +0.06 11.94 9.76 581K 1.1M 12.45
Buy Not Hit. Looks ready to roll over.
GPRO 06/17 A Wedge 52.22 +2.01 41.75 48 337K 766K 51.65
Current. Up over the 18 day MVA as it refuses to give up.
GPRO 04/05 Dbl btm 52.22 +2.01 26.5 30.75 337K 521K 51.65
Current.
IDT 07/12 Cup hdl 17.94 -0.04 18.35 21.95 238K 200K 17.88
Buy Not Issued.
IMA 07/28 A Wedge 20.9 0 21.42 25.72 70K 115K 19.92
Buy Not Hit. Still a very nice pattern.
IMAN 07/16 Cup hdl 5.42 +0.39 5.52 7 5.5M 244K 5.13
Current. Big breakout on volume.
INTC 07/31 FlyPlat 23.99 -0.15 25.56 30.65 49M 75M 24
Buy Not Hit.
INTU 06/26 Put 42.76 +0.45 41.8 38.05 2.2M 6M 43.68
Current. Yet another tap at the 50 day MVA. Not giving it up. Will give it a bit longer.
ITRI 08/06 H&S 18.97 -0.72 19.57 17 616K 200K 20.55
Buy Not Hit. Sold on high volume but managed to rebound and recoup
much of the loss. Will let it test toward the 200
day again given the bounce back. Good action and worth
moving in today.
KLAC 07/19 Cup hdl 49.76 -0.53 52.25 60 7.2M 14M 50.12
Current. Tested the 50 day MVA on the low and started to rebound so we left it alone. Needs to get some volume.
KLIC 08/02 Test BO 8.64 -0.58 9.32 11.75 1.3M 1.5M 8.48
Current. Turned down harder to the 18 day MVA on rising volume. It has used this level to bounce and it needs to do it now.
LAVA 08/07 DB hdl 20.85 +1.21 20.96 25.15 3M 1.2M 19.49
New.
LLTC 07/23 Rv H&S 35.81 -0.42 37.35 44.85 4.3M 9M 35.55
Current.
LM 05/06 Cup hdl 68.26 +0.68 58.5 67.78 265K 610K 68.15
Current. Moving up off the 50 day MVA but no volume.
MCTR 07/28 Test BO 2.96 0 2.55 3.35 723K 367K 2.28
Buy Not Issued. Has done all it will do given the takeover so time to exit.
MERX 07/15 Cup hdl 11 -0.1 10.52 12.75 119K 248K 9.78
Current. Still looking solid.
MIL 08/05 Put 42.41 +0.53 42.22 39.15 288K 500K 43.22
Buy Not Issued. Making a low volume test back toward the 50 day. Setting
up for the next fall.
MKSI 07/21 Cup hdl 20.98 -0.19 22.25 27.95 259K 488K 21.68
Current. Touched near the 50 day MVA and started up on volume, so we let it ride another day.
MKSI 07/14 Cup hdl 20.98 -0.19 22.8 27.95 259K 488K 21.68
Current.
MMSI 08/05 Test BO 25.7 -0.26 26.72 32 75K 183K 25.55
Buy Not Hit. Holding the 18 day MVA on low volume and a doji.
MRVL 08/02 Cup hdl 34.21 -0.81 36.28 43.55 5.3M 4.9M 33.74
Buy Not Hit.
NENG 08/04 Test BO 4.62 -0.23 5.12 6.35 391K 232K 4.66
Current. Testing the 18 day MVA on low volume.
NEWP 07/29 Cup hdl 16.39 -0.31 17.66 21.35 222K 552K 16.44
Exited. Breaking the 18 day MVA.
NTN 07/26 FlyPlat 2.18 -0.17 2.44 3.32 171K 200K 2.18
Exited.
ONNN 06/21 Test BO 3.35 +0.18 3 3.75 255K 900K 3.18
Current. What a nice recovery.
PG 08/02 H&S 88.2 -0.6 86.54 83 3.1M 4M 87.88
Buy Not Issued.
PIXR 07/30 Test 18 65.56 -1.94 69.06 78.48 1.3M 1.3M 66.12
Buy Not Issued.
PIXR 07/05 Cup hdl 65.56 -1.94 62.8 71.75 1.3M 1.2M 65.94
Exited. Broke the 18 day MVA on rising, above average volume
so used a trailing stop to exit.
PMTI 08/06 BO 6.9 +0.4 6.59 7.91 664K 200K 5.96
Buy Not Issued. Continued the move on strong volume, gapping higher.
We missed the test intraday so decided to wati for
another test lower to enter rather than chase it at
its highs. Good action.
PTEK 07/29 Cup hdl 5.23 -0.74 6.18 8 7M 276K 5.73
Buy Not Issued. Dropping.
PWAV 07/15 Test BO 7 -0.48 8.12 9.75 1.5M 2.1M 7.45
Buy Not Hit. Dropping.
RIMM 07/31 Cup hdl 24.8 +0.31 24.38 29.35 1.9M 2.5M 22.67
Buy Not Issued.
SIE 07/30 Test BO 23.52 +0.03 27.12 32.55 511K 700K 25.22
Buy Not Hit.
SINA 06/26 Test 18 28.68 -3.3 17.71 21.25 12M 4M 30.52
Exited. Broke below the 18 day MVA on strong volume so exited.
SRA 08/04 Cup hdl 15.61 +0.12 16.74 20.12 258K 247K 15.57
Buy Not Hit.
SWIR 07/07 Test BO 9.5 -0.12 7.38 8.96 387K 355K 8.96
Current. Nice test of the 10 day MVA on on low volume, showing a doji.
TIWI 08/07 A Wedge 3.8 0 4.06 5.65 134K 689K 3.75
New.
TKLC 08/02 Test BO 13.75 -0.11 14.78 17.75 196K 1M 13.75
Buy Not Hit.
TSAI 07/30 Cup hdl 12.06 +0.22 11.75 13.88 108K 240K 10.96
Current. Very nice test of the breakout, tapping the 10 day MVA on the low and rebounding for a gain.
TSCO 06/03 Rv H&S 54.21 +0.47 46.85 55.25 173K 603K 53.25
Current. Nice hold of the 18 day MVA. Just waiting for the bounce.
TSCO 04/24 Cup hdl 54.21 +0.47 43.75 52 173K 603K 53.25
Current.
TUES 08/06 Cup hdl 27.64 +0.09 28.88 34.65 191K 309K 26.94
Buy Not Hit.
ULCM 07/29 Cup hdl 9.92 -0.55 12.22 14.96 137K 186K 11.36
Buy Not Hit.
VRTS 08/19 CCall 29.3 -0.61 19.76 20 7.7M 8.5M 29.06
Current.
VSEA 07/12 Test BO 32.65 -0.11 34.5 40.95 618K 1.4M 32.08
Current. Fighting to hold over 32.
VVTV 07/19 Cup hdl 16.68 -0.57 16.95 20.45 135K 250K 15.86
Current. Still working up the 10 day MVA.
WWCA 07/23 BO 13.71 -0.09 14.48 17.45 592K 824K 14
Exited.
WWCA 05/22 BO 13.71 -0.09 11.42 13.85 592K 824K 14
Exited. Used a trailing stop to take the money off the table.
XICO 07/02 A Wedge 8.95 -0.1 7.25 8.65 118K 172K 7.98
Current. Stalled again at 9 after three days of trying to clear that level.
XMSR 07/16 Cup hdl 10.52 -2.75 14.25 17.25 33M 11M 13.12
Buy Not Issued. Dropping.
XOMA 07/28 Rv H&S 8.1 -0.11 7.15 8.68 969K 1.5M 6.65
Buy Not Issued.
Good Investing!
Jon L. Johnson and your IH Alerts 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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