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us stock market, stock split
Begin part 2 of 2
Support and Resistance
Nasdaq: Closed at 1843.70
Resistance: The 18 day MVA (1854). 1860 to 1865. 1889 (early September highs). 1930 - 1935. Then 2000 to 2050.
Support: The August high 1812 and 1814. The 50 day MVA (1784). The July high (1776). The March/August up trendline (1750).
S&P 500: Closed at 1009. 38
Resistance: The top of the summer range at 1015. The 18 day MVA (1019). 1030 to 1032 (early September highs) may act as some resistance. After that 1050. Then 1080 from February 2002 lows. 1100 to 1150, the early 2002 double top.
Support: The exponential 50 day MVA (1004) and 975 (December 1997 peak). 965 (August 2002 peak).
Dow: Closed at 9425.51
Resistance: 9500 (June 2002 lows) is the top of the recent summer range). The 18 day MVA (9501). 9609 (early September highs) make act as some resistance. 9735. 9800 (April and May 2002 lows).
Support: The exponential 50 day MVA (9356). 9353 (top of summer range). 9250 to 9236, the early June intraday high.
Economic Calendar
9-25-03
Durable goods orders, August (8:30): 0.5% expected, 1.0% July.
Initial jobless claims (8:30): 400K expected, 399K prior.
Existing home sales, August (10:00): 6.05M expected, 6.12M July.
New home sales, August (10:00): 1.12M expected, 1.165M July.
9-26-03
Q2 GDP, final (8:30): 3.1% expected.
Michigan sentiment, final for September (9:45): 88.5 expected, 88.2 prior.
SEMINARS ON CD
http://www.stockseminarsonline.com
This is Jon Johnson's own site devoted exclusively to seminars designed to teach you what you need to know about the stock market and stock movement and how to take advantage of those moves without incurring the usual high costs of travel and related expenses usually associated with seminars.
THE PLAYS
Good movers Wednesday: SOX; OCGN; NUVO; OGLC; TSYS
Monday and Wednesday we include some choice plays for the next situation.
NEW PLAYS: This section includes new plays from all sections other than pre-announcements.
Upside:
Play Date: 09/24/2003
CLEC (US Lec Corp.--$5.5; +0.2; no options): Domestic telecom services
http://biz.yahoo.com/p/c/clec.html
STATUS: Cup w/handle. CLEC is moving through the latter stages of the handle of its 5 month base. The handle is where the stock moves laterally on low volume and frustrates the final uncommitted holders into selling. Accumulation in the base is a solid 6 to 3 (6 up weeks on rising volume to 3 down weeks on rising volume), setting up a good foundation for a move up higher. Money flow is huge and relative strength is making the breakout move. Very solid in a down market, and looking for a the stock to make the breakout. It has shown tremendous volume spikes the past three weeks, telling us to get ready for the break higher.
Volume: 11.7K Avg Volume: 62.136K
BUY POINT: $5.88 Volume=93K Target=$7.35 Stop=$5.29
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cs/clec.html
Downside:
Play Date: 09/24/2003
INVX (Innovex--$11.02; -0.88; optionable): Diversified electronics
http://biz.yahoo.com/p/i/invx.html
STATUS: Put. INVX crashed through the 50 day MVA (12.72) 2 weeks back. It then rallied back up to test that level on Friday but then rolled back over this week. It fell sharply Wednesday but volume was back below average indicating no heavy selling. It has formed a head and shoulders top from July through September, and it looks ready to complete it and break lower. We want to see more volume on the further fall. Money flow is in the tank and it is under distribution.
Volume: 335.452K Avg Volume: 362.09K
BUY POINT: $10.94 Volume=400K Target=$9.05 Stop=$11.28
POSITION: IVQ WV - Nov. $12.50p (-65 delta)
http://www.investmenthouse.com/cs/invx.html
CONTINUING LEADER PLAYS
Downside:
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/cs/utsi.html
Upside:
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/cs/gldn.html
PRE-ANNOUNCEMENT PLAYS
Continuing Pre-Announcement Plays:
Play Date: 09/11/2003
UOPX (University of Phoenix Online--$69.31; -0.43; optionable): Online education. Forecast to announce a split on 10-7-03 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 10 day MVA. UOPX continues its test of the 10 day MVA (68.93), settling back to that level again Wednesday on very low, below average volume. It has been a strong and steady run up the 10 day since breaking out of a short base in May. As noted before and as we have seen, it can run like the wind when it starts. This has been a very nice pullback and this typically sets it off to the upside if the market is willing. We are looking to get in a short term play on this and make some money as it peels off a few $4 sessions.
Volume: 133.46K Avg Volume: 231.454K
BUY POINT: New: $70.48 (orig. $66.72) Volume=352K Target=$80 (orig. positions initial target: $74) Stop=$67.78
POSITION: UBY LM - Dec. $65c (55 delta) &/or Stock
http://www.investmenthouse.com/cs/uopx.html
WATCHLIST/ CONTINUING
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; PreAnn=Pre-Announcement split; PreSplt=Pre-split; 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.
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
^SOXX 09/22 Put 14.49 -21.54 443.61 425 1.7M 0 449.25
Current.
ACV 08/04 Test 18 58.15 -0.75 58.45 67.45 160K 400K 57.29
Current.
ACV 07/19 BO 58.15 -0.75 54.8 65.85 160K 400K 57.29
Current.
AMT 08/16 Cup hdl 10.42 -0.47 10.64 12.77 2.2M 2.8M 10.76
Current.
APOL 08/14 Test 50 66.69 -0.65 65.88 75.45 1.8M 2M 65.45
Current.
ASKJ 08/26 Rv H&S 21 -1.34 19.34 23.25 2.5M 3M 20.25
Current.
AVP 08/14 Test 50 64.49 -0.9 66.68 76.32 912K 1.7M 64.42
Current.
BBBY 08/16 Cup 39.42 -0.77 43.68 50 3.5M 5.2M 42.22
Buy Not Issued.
BHE 08/12 FlyPlat 46.6 -1.19 42.95 49 430K 550K 46.25
Current.
BKST 08/30 Test 18 20.71 -0.26 28.88 33.42 170K 90K 28.72
Current.
BLUD 09/02 Cup hdl 30.95 +0.85 25.88 31.12 505K 304K 25.14
Buy Not Issued.
CECO 07/31 FlyPlat 47.75 -0.25 42.86 47.62 891K 1M 45.94
Current.
CECO 07/19 Test 18 47.75 -0.25 37.88 43.28 891K 1.2M 45.94
Current.
CECO 05/29 Test 50 47.75 -0.25 31.28 36.73 891K 1M 45.94
Current.
CELL 09/20 FlyPlat 35.56 -1.72 33.85 40.45 999K 538K 30.55
Current.
CELL 07/21 Cup hdl 35.56 -1.72 19.25 23.25 999K 225K 29.34
Current.
CHU 09/18 Rv H&S 7.73 +0.14 8.16 10 2M 600K 7.48
Buy Not Hit.
CMTL 08/30 Cup hdl 26.02 -2.83 26.28 31.38 946K 600K 25.78
Current.
COCO 09/20 DB hdl 58.16 -1.28 59.55 69 765K 1.1M 58.22
Buy Not Issued.
COH 09/20 PreSplt 56.49 -1.29 59.49 68.45 754K 1.2M 57.94
Buy Not Hit.
COLM 08/14 Flat 53.1 -1.33 54.12 64.95 174K 475K 52.88
Current.
CPTV 08/26 Cup hdl 7.5 -0.5 6.5 8.12 143K 200K 6.88
Current.
CRUS 09/02 Cup hdl 6.16 -0.27 6.41 8 1M 2.3M 6.24
Current.
CVNS 09/11 DB hdl 6.38 -0.02 6.25 7.88 15K 137K 5.77
Buy Not Issued.
DCGN 09/20 Test BO 5.33 +0.58 4.32 5.38 1.9M 315K 3.94
Current.
DG 08/12 Cup hdl 20.93 -0.22 19.85 23.88 1.7M 2.9M 21.04
DJO 09/11 Cup 13.23 +0.01 12.36 14.85 15K 100K 11.56
Buy Not Issued.
DSCO 09/04 Flat 7.81 +0.16 8.14 10.18 295K 742K 7.42
Buy Not Issued.
EBAY 08/02 PreSplt 54.75 -0.61 53.78 60 13M 9M 53.02
Current.
EBAY 03/08 BO 54.75 -0.61 40.04 46 13M 8M 53.02
Current.
ELAB 09/20 Rv H&S 40.75 -0.99 41.85 50 437K 409K 38.95
Current.
EMBT 07/26 Cup hdl 10.42 -0.17 9.33 11.12 173K 400K 9.86
Current.
ENCY 09/08 Cup hdl 6.17 -0.23 5.65 6.98 598K 300K 5.48
Current.
ENMD 09/17 Cup 5.18 -0.58 5.39 6.72 1.4M 890K 4.68
Current.
ET 09/18 Cup hdl 9.67 -0.39 10.48 12.58 3.4M 7M 9.75
Buy Not Hit.
FMTI 09/18 Test BO 2.63 -0.14 2.66 3.33 300K 225K 2.22
Current.
GLDN 08/25 Test BO 30.36 +0.59 30.55 36.55 172K 200K 29.36
Buy Not Issued.
GLDN 08/19 Test BO 30.36 +0.59 30.4 36.48 172K 200K 29.72
Current.
GPRO 06/17 A Wedge 63.53 -2.87 41.75 48 391K 766K 60.55
Current.
GPRO 04/05 Dbl btm 63.53 -2.87 26.5 30.75 391K 521K 60.55
Current.
HAR 09/20 FlyPlat 99.66 -0.39 101.68 117 217K 374K 99.42
New.
HBIO 08/14 Test BO 6.95 -0.05 5.1 6.54 560K 153K 6.24
Current.
HDTV 08/21 Cup hdl 4.8 -0.13 4.12 5.12 152K 125K 4.24
Current.
HGSI 09/04 Cup 14.49 -0.88 16.48 19.68 1.7M 3M 14.88
Exited.
IGT 09/16 Rv H&S 28.87 +0.37 27.68 33.25 4.8M 4.7M 26.29
Buy Not Issued.
IT 08/09 Cup hdl 11.8 -0.41 10.13 12.95 753K 421K 11.38
Current.
JAH 09/06 Cup hdl 37.75 -0.49 33.72 40.45 146K 270K 35.71
JBLU 07/26 BO 60.45 +0.19 46.32 55.64 1.9M 1.5M 56.38
Current.
JCOM 08/12 PreSplt 40 -3.7 25.98 29 1.5M 1.4M 39.25
Current.
LM 07/12 Test 18 75.51 -1.19 72.48 82 552K 700K 70.45
Buy Not Issued.
LM 05/06 Cup hdl 75.51 -1.19 58.5 67.78 552K 610K 73.12
Current.
MATK 09/09 A Wedge 56.26 -0.15 52.25 59.85 700K 799K 52.54
Current.
MERQ 09/02 Rv H&S 47.04 -3.1 48 58 4.9M 4.5M 47.62
Exited.
MIL 09/16 Test BO 46.7 -0.83 48.06 55.28 233K 516K 45.78
Buy Not Issued.
MIMS 09/22 Cup hdl 7.95 -0.3 8.88 10.68 182K 346K 8.23
Buy Not Hit.
MMSI 08/05 Test BO 23.27 -0.1 20.44 24.33 143K 183K 22.94
Current.
MND 09/13 FlyPlat 6 +0.12 5.19 6.38 1.6M 1.2M 4.54
Current.
MOBE 09/15 Cup hdl 8.63 -0.09 8.7 10.88 408K 810K 7.88
Current.
MROI 08/27 Cup hdl 14.72 -0.07 14.3 17.15 138K 163K 13.88
Current.
MYL 08/19 Rv H&S 38.43 -0.73 36.71 43.74 1.5M 1.5M 38.88
Current.
NATI 09/02 DB hdl 42.05 -1.73 43.74 51.78 169K 386K 41.22
Buy Not Issued.
NMGC 09/18 Test BO 2.71 +0.01 2.92 3.65 100K 250K 2.62
Buy Not Hit.
NMSS 09/10 Test BO 2.65 -0.02 2.6 3.44 84K 148K 2.38
Current.
NSM 09/17 BO 34.49 -1.4 35.35 42 4.1M 5M 33.12
Current.
NTN 09/04 Test BO 2.93 +0.04 2.75 3.55 202K 195K 2.71
Current.
NTPA 09/11 FlyPlat 7.17 -0.17 7.35 9.35 163K 325K 6.96
Buy Not Issued.
NUVO 09/15 Cup 3.65 +0.15 3.02 3.88 3M 477K 2.68
Target Hit.
OLGC 09/03 DB hdl 6.07 +0.13 5.55 6.94 376K 207K 5.48
Current.
ORLY 08/19 Flat 39.46 +0.01 39.48 47.05 344K 350K 38.06
Current.
PDCO 09/13 A Wedge 58.37 -2.03 56.78 68 673K 755K 54.22
Buy Not Issued.
PDII 09/23 Flat 26.81 +0.76 28 33.37 392K 287K 24.78
Current.
PIXR 08/19 Flat 69.6 -1.29 70.68 81 503K 1.1M 71.08
Current.
PLMD 09/13 Test BO 54.11 +0.06 55.06 63.45 256K 325K 53.62
Buy Not Issued.
PLXS 08/19 Cup hdl 16.08 -1.02 16.12 19.38 561K 400K 17.02
Exited.
PLXT 08/25 Cup hdl 7.66 -0.32 6.33 7.88 84K 325K 7.44
Current.
PTEK 08/26 Cup hdl 8.61 -0.13 6.74 8.65 6.3M 276K 8.28
Current.
PTN 09/09 Rv H&S 4.81 -0.22 4.15 5.25 397K 329K 4.29
Current.
QCOM 08/21 DB hdl 43.52 -1.26 40.52 48.65 8.9M 12M 43.32
Current.
QLGC 09/23 Rv H&S 48.07 -2.64 52.72 63 3.8M 7.2M 50.15
Buy Not Hit.
RARE 08/18 BO 25.38 -0.78 25.15 28.85 128K 300K 25.18
Current.
ROST 09/18 Test 50 48.23 -0.72 50.58 60 905K 850K 48.62
Buy Not Hit.
SAFE 09/06 PreSplt 23.81 +0.06 24.44 27.48 16K 40K 22.73
Buy Not Issued.
SBUX 07/30 Cup 30.1 -0.09 30.35 36.75 5.7M 6M 28.82
Current.
SBUX 07/01 Cup 30.1 -0.09 26.3 30.94 5.7M 6M 28.52
Current.
SEAC 09/06 Cup 14.11 0 12.37 14.85 573K 345K 13.78
Current.
SFE 09/16 Test BO 3.48 -0.21 3.85 4.62 641K 600K 3.48
Current.
SFNT 09/06 Test BO 38 -1 40.55 47.45 128K 350K 37.71
Buy Not Issued.
SINA 09/09 Cup 41.65 -1.64 36.15 41 12M 12M 37.22
Current.
SINA 08/18 Test 50 41.65 -1.64 32.2 38.25 12M 10M 37.22
Current.
SMSI 09/23 Flat 4.06 -0.54 4.72 5.68 410K 371K 4.12
Buy Not Hit.
SOHU 09/22 Cup 39.23 -2.02 42.62 51.25 5.9M 6.1M 40.25
Buy Not Hit.
SOHU 09/09 Cup 39.23 -2.02 37.35 42.55 5.9M 6.1M 37.74
Current.
SOHU 09/02 Cup 39.23 -2.02 36.14 42.92 5.9M 5M 37.74
Current.
SRA 09/10 Test BO 16.84 -0.21 16.97 20.38 108K 261K 16.84
Current.
SYK 09/20 Flat 75.75 -0.75 77.12 88.65 765K 1.1M 75.05
New.
TKLC 08/02 Test BO 16.3 -1.1 15.96 18.95 495K 1M 17.11
Exited.
TRB 09/06 Put 45.87 -0.53 45.38 43 1.9M 1M 46.28
TSCO 07/29 Test BO 37.35 -0.18 28.06 31.44 470K 494K 34.25
Current.
TSCO 07/05 Test 50 37.35 -0.18 26.62 30 470K 500K 34.25
Current.
TSCO 06/03 Rv H&S 37.35 -0.18 23.42 27.62 470K 603K 34.25
Current.
TSCO 04/24 Cup hdl 37.35 -0.18 21.88 26 470K 603K 34.25
Current.
TSCO 04/03 Rv H&S 37.35 -0.18 19.3 22.19 470K 577K 34.25
Current.
TSYS 08/14 Test BO 4.6 +0.39 3.54 4.45 444K 120K 3.88
Current.
UNTD 07/12 Test BO 40.23 -0.3 28.8 34.12 2.1M 2.1M 38.12
Current.
UNTD 05/29 Flat 40.23 -0.3 23.45 28 2.1M 2M 38.12
Current.
UOPX 09/11 Test BO 69.31 -0.43 66.72 74 133K 352K 67.78
Current.
UOPX 08/14 BO 69.31 -0.43 61.78 74 133K 300K 67.78
Current.
URBN 09/23 Rv H&S 25.09 -0.34 25.96 31.15 533K 953K 24.14
Buy Not Hit.
UTSI 09/23 Put 35.08 +0.02 34.88 31.78 8.2M 5M 37.18
Buy Not Hit.
VRTS 09/11 Test 50 32.46 -1.41 36.64 41.55 5.3M 1M 33.94
Buy Not Hit.
XRAY 08/28 Flat 45.53 -0.98 45.58 54.55 470K 625K 44.06
Current.
XRIT 09/13 A Wedge 11.46 -0.17 12.22 14.66 27K 72K 11.44
Buy Not Issued.
ZMH 08/09 Test BO 55.79 +0.18 51.12 59.55 2.6M 3M 52.21
Current.
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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