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stock recommendation, stock option
Begin part 3 of 3
THE PLAYS
Good movers Wednesday: SOX; ARIA; EVOL; SNUS; TPTH
Best Plays:
1) MIPS: Very nice breakout test.
2) ACN: Volume surging as it tests and bounces up off the 50 day MVA.
3) ATMI: Plunging on volume.
4) GLDN: Trying to move when the rest of the market sold.
5) RNDC: Still very solid.
6) NUE: Ready to fall as volume rises.
7) UTSI: Volume is surging as it starts to roll over again.
NEW PLAYS:
Upside:
Play Date: 09/24/2003
ACN (Accenture--$22.25; +0.86; optionable): Business management
http://biz.yahoo.com/p/a/acn.html
STATUS: Test 50 day MVA (21.10). ACN broke from a 9 month cup with handle base in August, rallying on strong volume to start the month. It has since come back to test the breakout, falling to the breakout point and the 50 day MVA, a double layer of ice to hold it up. Wednesday it started at the 50 day MVA after showing a doji at that level Tuesday. It jumped off of that level on a very strong volume increase, an indication that a lot of big money came in to suport it at that level, particularly when the overall market was tanking. Excellent money flow, and we are looking at moving in on a further move on solid volume.
Volume: 25.321M Avg Volume: 2.275M
BUY POINT: $22.55 Volume=3.4M Target=$27.12 Stop=$21.04
POSITION: ACN BX - Feb. $22.50c (54 delta) &/or Stock
http://www.investmenthouse.com/ct/acn.html
Play Date: 09/24/2003
MIPS (Mips Technologies--$4.56; -0.12; no options): Semiconductors
http://biz.yahoo.com/p/m/mips.html
STATUS: Testing the 18 day MVA (4.50). MIPS broke out of a 9 month cup with handle base in late August and rallied up over 5. It really got its strength just two weeks back with a strong volume break higher. It is now moving back to test that move on very low, below average volume. That shows very little selling on the way back down. Super money flow and a relative strength breakout on the recent move. Very solid move higher and a very orderly pullback. Now we need to see a break higher on above average volume.
Volume: 101.386K Avg Volume: 199K
BUY POINT: $4.78 Volume=298K Target=$6 Stop=$4.45
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/mips.html
Play Date: 09/24/2003
RBK (Reebok--$33.93; -0.09; optionable): Footwear
http://biz.yahoo.com/p/r/rbk.html
STATUS: Double bottom w/handle. RBK is moving through a 9 week base sporting excellent 4 to 1 accumulation (4 up weeks on rising volume to 1 down week on rising volume). It has used the 200 day MVA (31.95) as the support at the bottom of the base and rallied up sharply last week on the NKE news. It has edged laterally the past three days in a tight range. Volume was lower until Wednesday when it jumped back above average as RBK showed a doji. Looks as if it is almost ready for the breakout. Surging money flow.
Volume: 952.6K Avg Volume: 727K
BUY POINT: $34.46 Volume=1.1M Target=$41.35 Stop=$33.22
POSITION: RBK AG - Jan. $35c (50 delta) &/or Stock
http://www.investmenthouse.com/ct/rbk.html
Downside:
Play Date: 09/24/2003
ATMI (ATMI, Inc.--$25.51; -1.4; optionable): Chip equipment
http://biz.yahoo.com/p/a/atmi.html
STATUS: Put. ATMI crashed through the 50 day MVA (26.86) Monday, tried to overtake it on Tuesday, and then rolled over on a sharp rise on above average volume. This is a short head and shoulders pattern formed the past 5 weeks, and it looks as if ATMI is heading down to 23 to complete the pattern. We are looking to move in on a further drop on continued strong volume.
Volume: 507.05K Avg Volume: 325K
BUY POINT: $25.35 Volume=488K Target=$23 Stop=$26.88
POSITION: ASQ WE - Nov. $25p (-42 delta)
http://www.investmenthouse.com/ct/atmi.html
Play Date: 09/24/2003
GENZ (Genzyme--$47.23; -2.67; optionable): Biotechnology
http://biz.yahoo.com/p/g/genz.html
STATUS: Put. GENZ peaked at 52 in late July, rallied back toward that level this month, but then rolled over Friday, making a lower high. After a weak bounce Tuesday, GENZ was undercutting the 50 day MVA (47.48) on a big surge in above average volume. Plenty of room to the downside here, and we are looking at moving in on a further move lower on continued solid volume.
Volume: 3.563M Avg Volume: 2.915M
BUY POINT: $46.96 Volume=3.5M Target=$43 Stop=$48
POSITION: GZQ WS - Nov. $47.50p (-49 delta)
http://www.investmenthouse.com/ct/genz.html
CONTINUING PLAYS:
Upside:
Play Date: 09/22/2003
EASY (Easylink Services--$1.89; -0.13; no options): Internet software & services
http://biz.yahoo.com/p/e/easy.html
STATUS: Cup w/handle. EASY has formed a 10 week base showing solid 3 to 1 accumulation. After forming the handle last week it has tried to make the breakout on rising volume this week but has not been able to hold the move yet. Looks as if it will work along the 10 day MVA (1.84) a bit longer and then try the move again. Strong money flow is leading higher.
Volume: 1.076M Avg Volume: 1.351M
BUY POINT: $2.14 Volume=2M Target=$2.74 Stop=$1.96
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/easy.html
Play Date: 08/25/2003
GLDN (Golden Telecom--$30.36; +0.59; no options): Wireless communications
http://biz.yahoo.com/p/g/gldn.html
STATUS: Testing the 50 day MVA (28.60). After peaking near 32 in late August and has moved back to the 50 day. It has spent three weeks working laterally at that level on lower, below average volume. Wednesday volume jumped to average as GLD ran to 32 on the high but pulled back for a modest gain in the late market selling. Still very good action at the 50 day, and it looks as if GLDN has consolidated enough and is ready for the next move.
Volume: 173.032K Avg Volume: 180.59K
BUY POINT: New: $30.72 (orig. $30.55) Volume=200K Target=$36.55 Stop=$29.36
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/gldn.html
Play Date: 09/09/2003
IFLO (I-Flow--$10.7; -0.35; no options): Medical instruments
http://biz.yahoo.com/p/i/iflo.html
STATUS: Testing the breakout. IFLOS is still in the test of the breakout, moving over the 10 day MVA (9.93) after blasting higher last week from its 6 week double bottom/flat base. Volume was back up to average Wednesday as IFLO tried to make the next move but fell back to the 10 day. Not bad action given the market selling, and we are still looking for a break higher on above average volume to move into new positions.
Volume: 329.145K Avg Volume: 332.772K
BUY POINT: New: $11.06 (orig. $9.62) Volume=426K Target=New positions: $13.27 (orig. positions: $11.52; will look at taking some gain there and letting the rest run). Stop=$9.72
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/iflo.html
Play Date: 07/28/2003
IMA (Inverness Medical--$24.2; -0.1; no options): Scientific & technical instruments
http://biz.yahoo.com/p/i/ima.html
STATUS: Flying plateau. IMA is moving in a very tight pattern the past three weeks, holding over the 10 day MVA (24.19) on low, below average volume. Excellent consolidation after a good breakout in August. Money flow is still moving ahead of price and relative strength is moving higher for the next breakout.
Volume: 22.6K Avg Volume: 83.409K
BUY POINT: $22.2 Volume=115K Target=$26.65 Stop=$23.52
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/ima.html
Play Date: 09/03/2003
INTL (Inter-Tel--$27.19; -1.01; optionable): Telcom processing systems
http://biz.yahoo.com/p/i/intl.html
STATUS: Ascending triangle. Still making higher lows in the 2.5 month base. Wednesday it tapped at the breakout on the high (28.30) but in the market selling could not hold the move. Still in the pattern and looking for it to hold at the 18 day MVA (26.89), make another higher low and try the breakout.
Volume: 236.929K Avg Volume: 269K
BUY POINT: $28.38 Volume=444K Target=$33.94 Stop=$26.48
POSITION: TPQ AE - Jan. $25c (70 delta) &/or Stock
http://www.investmenthouse.com/ct/intl.html
Play Date: 09/15/2003
IVIL (Ivillage--$2.6; -0.02; no options): Internet information provider
http://biz.yahoo.com/p/i/ivil.html
STATUS: Testing the breakout. IVIL blasted higher seven sessions back. It struggled Monday, gapping down and closing just over the 18 day MVA (2.44). It held that level Tuesday and Wednesday, trying to move higher. If it holds here it is set up for the next move higher. Strong money flow and relative strength to match some solid accumulation.
Volume: 153.537K Avg Volume: 226.045K
BUY POINT: $2.74 Volume=335K Target=$3.48 Stop=$2.49
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/ivil.html
Play Date: 09/18/2003
NMGC (Neomagic--$2.71; +0.01; no options): Semiconductor
http://biz.yahoo.com/p/n/nmgc.html
STATUS: Testing the breakout. NMGC broke out of a short 6 week cup base two weeks back. It ran over 3 and is now coming back to test the move on below average volume. Got a bit wild Wednesday, testing down to 2.40 on the low, but hten rallied furiously to close with a small gain. It has held on the test thus far, and we are looking for a strong move through the breakout point on a good shot of volume. Holding up well given the selling.
Volume: 100.477K Avg Volume: 209.909K
BUY POINT: $2.92 Volume=250K Target=$3.65 Stop=$2.62
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/nmgc.html
Play Date: 08/30/2003
OPSW (Opsware--$8.15; -0.34; no options): Internet software and services
http://biz.yahoo.com/p/o/opsw.html
STATUS: Testing the breakout. OPSW blasted higher 7 sessions back and ran up to 9 on the high on an excellent volume surge. This week it has tested back to the 10 day MVA (8.06) on lower volume. Excellent money flow and a relative strength breakout show the strong underpinnings in the breakout move. Looking for a turn back up from here on volume, but it may take a few sessions before it is ready to make that move.
Volume: 827.062K Avg Volume: 783.727K
BUY POINT: New: $8.62 (orig. $7) Volume=1M Target=$10.50 (orig. posiitions: 8.75) Stop=$7.75
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/opsw.html
Play Date: 09/23/2003
RNDC (Raindance Communications--$3.03; -0.07; no options): Telecom services
http://biz.yahoo.com/p/r/rndc.html
STATUS: Cup w/handle. Tried the breakout from its 10 week base Wednesday, rallying to 3.25 on the high but hten selling back with the market. Volume was excellent. Still in a very nice pattern sportin excellent 5 to 0 accumulation and surging money flow. Just going to let it reload and make the move again.
Volume: 778.036K Avg Volume: 372.818K
BUY POINT: $3.23 Volume=559K Target=$4.04 Stop=$2.92
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/rndc.html
Downside:
Play Date: 09/17/2003
NUE (Nucor--$47.1; -0.94; optionable): Nucor
http://biz.yahoo.com/p/n/nue.html
STATUS: Put. After another test of the 10 day MVA (48.10) Tuesday when the market rallied, NUE tapped the 10 day one more time Monday and then started back down on rising volume. It looks as if this testing at the 10 day MVA is just about over, and we are looking for NUE to make the drop.
Volume: 693.9K Avg Volume: 704.363K
BUY POINT: New: $47.04 (orig. $47.32) Volume=700K Target=$44.74 Stop=$48.55
POSITION: NUE VI - Oct. $50p (-73 delta) or NUE WJ - Nov. $50p (-68 delta).
http://www.investmenthouse.com/ct/nue.html
Play Date: 09/06/2003
TRB (Tribune Company--$45.87; -0.53; optionable): Newpapers
http://biz.yahoo.com/p/t/trb.html
STATUS: Put. TRB rallied to the 50 day MVA (46.37) the past two weeks, tapping that level Wednesday and then rolling over on a strong volume surge. It closed just below the 18 day MVA (45.97) and looks to be ready to continue the 3.5 month downtrend.
Volume: 1.851M Avg Volume: 1.077M
BUY POINT: $45.38 Volume=1M Target=$43 Stop=$46.28
POSITION: TRB WI - Nov. $45p (-43 delta)
http://www.investmenthouse.com/ct/trb.html
Play Date: 09/23/2003
UTSI (Utstarcom--$35.08; +0.02; optionable): Wireless communications
http://biz.yahoo.com/p/u/utsi.html
STATUS: Put. UTSI double topped in July and August, and then thudded through the 50 day MVA (38.67) two weeks back. It hit 35 and held, rallying back to test the 10 day MVA (36.73). It tried the 10 day MVA again Wednesday, but once more that stopped the advance and UTSI rolled over on a very large volume surge. It looks ready to make the breakdown from here.
Volume: 8.161M Avg Volume: 3.471M
BUY POINT: $34.88 Volume=5M Target=$31.78 Stop=$37.18
POSITION: UON WG - Nov. $35p (-46 delta)
http://www.investmenthouse.com/ct/utsi.html
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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stock recommendation
stock option
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