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us stock market, stock split
Begin part 3 of 3
THE PLAYS
Good movers Tuesday: MYL; EMBT; PTEK; SOHU
In each report we prepare full write-ups for those that look ready to move. If the move has been made already we discuss the play in the summary table. The purpose is to focus on the next good movers. New pre-announcement plays are found in that section.
NEW PLAYS: This section includes new plays from all sections other than pre-announcements.
Upside:
Play Date: 09/09/2003
PTN (Palatin Technologies--$3.7; +0.01; no options): Diagnostic substances
http://biz.yahoo.com/p/p/ptn.html
STATUS: Reverse head and shoulders. PTN is forming a shallow right shoulder to a 2.5 month base, edging up the 18 day MVA (3.48) as it does. Accumulation in the base is an outstanding 6 to 2 (6 up weeks on rising volume to 2 down weeks on rising volume). Money flow has turned sharply higher and is running higher as the stock price moves more or less laterally on low, below average volume. It looks ready to make the move and follow the money higher.
Volume: 149.4K Avg Volume: 219.181K
BUY POINT: $3.82 Volume=329K Target=$4.85 Stop=$3.44
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cs/ptn.html
Play Date: 09/09/2003
SPPI (Spectrum Pharma--$5.05; -0.05; no options): Biotechnology
http://biz.yahoo.com/p/s/sppi.html
STATUS: Cup w/handle. SPPI is working on the handle to a 3 month base, pulling back to the 18 day MVA (5.02) on very low, below average volume. A very nice support level for the handle, showing a pair of nice, tight dojis. Accumulation in the base is a strong 5 to 2. This stock is a bit more thinly traded than what we usually play, but we are looking hard at biotech and medical as sectors where money can rotate into and push these stocks higher.
Volume: 27.8K Avg Volume: 57.272K
BUY POINT: $5.35 Volume=86K Target=$6.94 Stop=$4.98
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cs/sppi.html
Downside:
Play Date: 09/09/2003
MCO (Moodys Corp.--$51.61; -0.99; optionable): Corporate debt ratings
http://biz.yahoo.com/p/m/mco.html
STATUS: Put. With the market improving and balance sheets as well, perhaphs Moody's has less business than it did in the long downtrend. It has been trying to base after peaking in July at 56ish, but Tuesday it fell hard below the 50 day MVA (52.17) on very strong volume. Money flow has started to knife lower and relative strength is plunging. There is some support at 50, but we are looking for a play down near the 200 day; if it gives us just $2 that is still a nice move.
Volume: 1.189M Avg Volume: 575K
BUY POINT: $51.38 Volume=600K Target=$48.35 Stop=$52.35
POSITION: MCO WK - Nov. $55p (-73 delta)
http://www.investmenthouse.com/cs/mco.html
CONTINUING LEADER PLAYS
Play Date: 09/04/2003
DSCO (Discovery Labs--$8.08; -0.1; no options): Biotechnology
http://biz.yahoo.com/p/d/dsco.html
STATUS: Flat base. DSCO is forming what appears to be a handle at the end of its 2 month flat base, holding over the 10 day MVA (7.76) and moving laterally on lower, below average volume. Accumulation is 2 to 0 in the base and money flow is heading higher. Need to see volume ramp up sharply on the breakout.
Volume: 239.165K Avg Volume: 543.227K
BUY POINT: $8.14 Volume=742K Target=$10.18 Stop=$7.42
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cs/dsco.html
Play Date: 09/04/2003
HGSI (Human Genome Sciences--$16.36; +0.21; optionable): Diagnostic substances
http://biz.yahoo.com/p/h/hgsi.html
STATUS: Cup. HGSI did not slow much, continuing up Monday and Tuesday, Tuesday making the move higher on stronger, above average volume. It still may form a handle at 17, putting a nice cap on the 3 month base. If volume shoots higher, however, we will add a few more positions on the move. Otherwise we will let if form the handle and grabe it again as it breaks higher over the handle high. Accumulation in the base is an excellent 5 to 2.
Volume: 2.255M Avg Volume: 2.395M
BUY POINT: $16.06 Volume=3M Target=$19.28 Stop=$14.48
POSITION: HQI AC - Jan. $15c (61 delta) &/or Stock
http://www.investmenthouse.com/cs/hgsi.html
Play Date: 09/03/2003
OLGC (Orthologic--$5.23; +0.13; no options): Medical instruments
http://biz.yahoo.com/p/o/olgc.html
STATUS: Double bottom w/handle. OLGC has made a higher low off of the simple 50 day MVA (5.02) in its 2 month base, starting up Monday and Tuesday on rising though still below average volume. Money flow is very strong, leading higher as the stock moves laterally. Relative strength is solid as well, heading back up for another breakout. Good sector and it looks as if volume is starting to move into the stock.
Volume: 101.138K Avg Volume: 132.818K
BUY POINT: $5.45 Volume=207K Target=$6.84 Stop=$5.11
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cs/olgc.html
Play Date: 08/18/2003
SINA (Sina.com--$34.3; +0.09; optionable): China internet
http://biz.yahoo.com/p/s/sina.html
STATUS: Cup. Tightening up very nicely in below 35, edging up the 10 day MVA (33.18) and forming what looks to be a handle to the 6 week pattern. It continues to find resistance near 35.25, but is building a very nice pattern. Looking for a breakout over that resistance on strong trade.
Volume: 6.127M Avg Volume: 7.875M
BUY POINT: New: $35.28 (orig. $32.20). Volume=10M Target=$38.25 Stop=$31.22
POSITION: NOQ LF - Dec. $30c (61 delta) &/or Stock
http://www.investmenthouse.com/cs/sina.html
Play Date: 09/02/2003
SOHU (Sohu.com--$36.5; +1.21; optionable): Chinese internet information provider
http://biz.yahoo.com/p/s/sohu.html
STATUS: Cup. Breaking over the recent highs from where SOHU moved laterally the past week. Volume was up sharply and close to average on the move as the stock starts to follow money flow that has found new life. It may be ready to run up to the old highs right now.
Volume: 4.155M Avg Volume: 4.052M
BUY POINT: New: $36.75 (orig. $36.14) Volume=5M Target=$42.92 Stop=$32.12
POSITION: UZK LG - Dec. $35c (55 delta) &/or Stock
http://www.investmenthouse.com/cs/sohu.html
Downside:
Play Date: 09/06/2003
TRB (Tribune Company--$45.64; -0.47; optionable): Newspapers
http://biz.yahoo.com/p/t/trb.html
STATUS: Put. After a test back up to the 18 day MVA (46.07) Monday, TRB turned down again though volume backed off to well below average. Still in distress as money flow falls ahead of price and TRB sets up to continue its downtrend, riding below the 18 day MVA.
Volume: 718.9K Avg Volume: 1.07M
BUY POINT: $45.38 Volume=1M Target=$43 Stop=$46.28
POSITION: TRB WI - Nov. $45p (-43 delta)
http://www.investmenthouse.com/cs/trb.html
PRE-ANNOUNCEMENT PLAYS
Current Pre-Announcement Plays:
ACV: Forecast 10-23 with earnings or a board meeting 11-3. Nice test of the 10 day MVA continues.
APOL: Forecast to announce a split with earnings on 9-22-03. Still holding the 50 day MVA, showing a doji at that level on low volume.
AVP: Forecast 10-28 before the open with earnings. Turned right back down to the 10 day MVA as it struggles yet again.
BBBY: Forecast to announce a split 9-24 with earnings. Made it to the 50 day MVA where it sits.
BLUD: Forecast to announce a split on 10-17-03 before the market opens in conjunction with earnings.
CLE: No split announcement with board meeting 9-4-03. Getting the pullback to est support at 34, but it will have to show a good rebound given the retail problems.
COCO: Forecast 10-29 or on 11-20 at a board meeting. Holding support at 55 for now.
COLM: Forecast to announce a split on 10-23-03 after the market closes. Struggling at the 50 day MVA with the rest of the retail sector. Waiting on this one to see how it works out its issues.
CPWM: Forecast 9-30 with a board meeting. Still working back toward the 50 day MVA.
DG: No split with earnings on 8-28-03 but a very solid move and still working higher. Very nice, quiet test of the 18 day MVA. It is performing well despite being in retail, but not ready for a new buy.
DHR: Forecast 9-17-03 in conjunction with a board meeting. Down to the 18 day MVA on below average volume. This is where it needs to step up.
ETN: Forecast 10-13 with earnings or 10-22 with a board meeting. Still an excellent lateral move over the 10 day MVA.
FDS: Forecast 9-16-03 in conjunction with earnings.
FOSL: Forecast 11-11-03 with earnings. Had to get out of it and let it form back up.
GDW: Forecast 9-18 with a board meeting. Nice jump higher on very nice volume.
GILD: Forecast 10-30-03
HAR: Forecast 10-29 with earnings. Still working laterally after that big run up to 100. This is a level that can act as resistance.
JAH: Forecast 10-27-03
JBLU: Forecast 9-4-03. Testing back toward the 10 day MVA after a fantastic move. Will want it to hold 55.
KRON: Forecast 10-28-03 with earnings.
KSWS: Forecast 10-28. Down to the 50 day MVA, showing a doji. This is where it needs to rebound.
LM: Forecast 10-22 with earnings. Lateral move over the 10 day MVA with volume spiking higher Tuesday. Letting it work for us.
MERQ: Forecast to announce a split on 10-16-03 in conjunction with earnings. Still waiting for MERQ to come back some and give us an entry.
NATI: Forecast 10-20-03. May come back now toward 41 and give us an entry point after that low volume rally.
NDN: Forecast 10-7-03 in conjunction with earnings. Not doing it as it falls below the 50 day MVA. Dropping for now.
ORLY: Forecast 10-21-03. Testing the 18 day MVA. Needs to hold here.
PIXR: No announcement with the shareholder meeting on 9-5-03. Nice doji at the 10 day MVA but may test a bit lower intraday before being ready.
ROST: Forecast 11-18-03 before the market with earnings. Falling through the 18 day MVA on rising volume as retailers suffer.
SYK: Forecast 10-15. Still dancing at the 50 day MVA. Will have to do much better or we are going to drop it.
UOPX: Forecast to announce a split on 9-22 with earnings.
XRAY: Forecast to announce 10-21-03. Volume jumped as XRAY started to test the 50 day MVA.
We are putting full write-ups of those pre-announcement stocks that are ready to make moves. As the other pre-announcement candidates reach new buy points we will put them on as well. We want to keep the report focused on those stocks ready to make moves. The following is a summary table of current pre-announcement plays.
Continuing Pre-Announcement Plays:
Play Date: 08/26/2003
FDS (Factset Research--$49.57; -0.02; optionable): Computer software information and delivery. Forecast to announce a split on 9-16-03 in conjunction with earnings.
BACKGROUND: Last announced a 2 for 1 split on 1-13-00 at a stock price of $69.
http://biz.yahoo.com/p/f/fds.html
STATUS: Test breakout. Still in a very nice test of the breakout, showing a tight doji with a long tale, rallying back up to close at the 10 day MVA (49.53). FDS blasted from a 1.5 month base last Tuesday and continued higher on strong volume. It hit 52.50 and is now making the test. Strong breakout and a nice test. Now we look for a surge up from here on above average volume.
Volume: 289.5K Avg Volume: 376.59K
BUY POINT: $50.38 Volume=600K Target=$59.88 Stop=$48.52
POSITION: FDS LJ - Dec. $50c (48 delta) &/or Stock
http://www.investmenthouse.com/cs/fds.html
Play Date: 09/06/2003
GILD (Gilead Sciences--$68.61; -0.62; optionable): Biotechnology. Forecast to announce a split on 10-30-03 in conjunction with earnings. The company has not released a time for the announcement.
BACKGROUND: Last announced a 2 for1 split on 1-30-02 in conjunction with a board meeting. The stock price was $67. The annual shareholder meeting was on 5-21-03 at which time no additional shares were authorized. The company has sufficient shares for a 2 for 1 split.
http://biz.yahoo.com/p/g/gild.html
STATUS: Flat base. Holding right at the breakout point Tuesday after a strong jump Monday though volume was a bit lower than we wanted. Still solid in its 8 week base, and it has hit the first buy point and now we look for the break over 70 for the next entry point.
Volume: 2.722M Avg Volume: 3.5M
BUY POINT: Next: 70.25 (orig. $68.45) Volume=5M Target=$80 Stop=$65.28
POSITION: GDQ KM - Nov. $65c (63 delta) or GDQ AN - Jan. $70c (41 delta) &/or Stock
http://www.investmenthouse.com/cs/gild.html
Play Date: 09/06/2003
JAH (Jarden--$33.25; -0.11; no options): Rubber & plastics. Forecast to announce a split on 10-27-03 in conjunction with earnings. The company has not confirmed this date, but based upon our research this is the date for the announcement.
BACKGROUND: Last announced a split 2 for1 split on 5-6-03 in conjunction with a board meeting. The stock price was $37.10. The annual shareholder meeting was on 4-24-03 at which time no additional shares were authorized. The company has sufficient shares for a 2 for 1 split.
http://biz.yahoo.com/p/j/jah.html
STATUS: Cup w/handle. JAH continues to move laterally over the 10 day MVA (32.93) in the two week handle to its 4 month base sporting solid 4 to 1 accumulation. After its strong run, this base is just what it needs. Volume spiked higher Tuesday. That puts us on the ready for a breakout. Still need to be patient and let it make the move.
Volume: 289.1K Avg Volume: 168.227K
BUY POINT: $33.72 Volume=270K Target=$40.45 Stop=$32.12
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cs/jah.html
Play Date: 08/28/2003
KRON (Kronos--$59.95; -0.25; no options): Employee planning, tracking systems. Forecast to announce a split on 10-28-03 in conjunction with earnings. The company has not confirmed a time for the release.
BACKGROUND: Last announced a 3 for 2 split on 10-25-01 in conjunction with a board meeting. The stock price was $41. This date was a day after earnings were released. The annual shareholder meeting was on 2-6-03 at which time no additional shares were authorized. The company has sufficient shares for a 2 for 1 split.
http://biz.yahoo.com/p/k/kron.html
STATUS: Double bottom w/handle. We are having a new addition to our family, and today at the hospital I noticed some of the card readers were made by KRON. Not a bad market to have. In any event, KRON continues to tease us with a breakout, and hit the buy Monday on strong volume but could not hold the move. Tuesday it was holding tight with a nice tight doji on lower though still above average volume. Solid 3 to 1 accumulation. Money flow is excellent, and relative strength is ready to breakout. It is close.
Volume: 181.909K Avg Volume: 154.772K
BUY POINT: $60.62 Volume=248K Target=$70 Stop=$56.55
POSITION: - Stock (only Oct. options right now)
http://www.investmenthouse.com/cs/kron.html
Play Date: 08/14/2003
UOPX (University of Phoenix Online--$65.79; +1.58; optionable): Online education. Forecast to announce a split on 9-22-03 before the market opens in conjunction with earnings.
BACKGROUND: Last announced a 4 for 3 split on 4-5-02 at a stock price of $38.95. The company has sufficient shares for a 2 for 1 split.
http://biz.yahoo.com/p/u/uopx.html
STATUS: Testing the breakout. Continues to show its strength, tapping down to the 18 day MVA (62.73) on the low (63.29) and rebounding for a nice gain on a solid shot of above average volume. Excellent test and making the next move higher. Still a buy on this move.
Volume: 303.635K Avg Volume: 235.772K
BUY POINT: New: 66.35 (orig. $61.78) Volume=300K Target=$74 Stop=$63.25
POSITION: UBY LM - Dec. $65c (55 delta) &/or Stock
http://www.investmenthouse.com/cs/uopx.html
PRE-SPLIT
Play Date: 08/30/2003
BKST (Brookstone--$28.8; +0.24; no options): Splits 3:2 on 9-24-03
http://biz.yahoo.com/p/b/bkst.html
STATUS: 18 day MVA test. BKST has moved lower the past two weeks in a nice breakout test, holding over the 18 day MVA (27.98) on the intraday lows. Tuesday BKST had its price target raised and volume shot higher as BKST showed a tight doji right on that support. Outstanding money flow, and looking for this volume spike to turn into a good buy for us.
Volume: 393.752K Avg Volume: 61.181K
BUY POINT: $28.88 Volume=90K Target=$33.42 Stop=$27.68
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cs/bkst.html
Good Investing!
Jon L. Johnson and the Stock Split Report 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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