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stock recommendation, stock option
Begin part 3 of 3
THE PLAYS
Good movers Tuesday: AMZN; DCTM; GIGM; MRVC; SOFO; TELM; TLCV; TSCO; TTP
Monday night play results:
BXS: Good volume but could not move further.
DKS: Jumped higher again on good volume but gave back much of the move.
TLCV: Nice break higher on strong volume.
New Plays for Wednesday:
Upside:
Play Date: 10/14/2003
DRRX (Durect--$3.74; -0.01; no options): Drugs
http://biz.yahoo.com/p/d/drrx.html
STATUS: Cup w/handle. DRXX is forming a very low volume handle, a nice finishing touch to its 4 month base. Accumulation in the base is an excellent 7 to 3 (7 up weeks on rising volume to 3 down weeks on rising volume). Strong money flow is moving higher ahead of price even as the stock moves lower to test the 10 day MVA (3.61) and shake out the last sellers. Very, very low volume as it makes the test; that indicates very few sellers on the pullback. Nice base, the first one off the bottom in March.
Volume: 104.116K Avg Volume: 380.5K
BUY POINT: $4.09 Volume=571K Target=$5.31 Stop=$3.8
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/drrx.html
Play Date: 10/14/2003
QLGC (Qlogic--$52.33; +1.1; optionable): Storage network infrastructure
http://biz.yahoo.com/p/q/qlgc.html
STATUS: Reverse head & shoulders. QLGC has been working on this base awhile, and we have been watching it awhile. It is a 4.5 month pattern sporting solid 5 to 2 accumulation. Volume surged last week as QLGC tested the 50 day MVA (48.87) and bounced. Tuesday QLGC was up on rising though still below average volume. That volume will need to improve on the breakout move. The pattern is set up, now we will see if QLGC can finish it off with a strong breakout.
Volume: 3.09M Avg Volume: 5.103M
BUY POINT: $52.78 Volume=7M Target=$63.38 Stop=$51.25
POSITION: QLC AJ - Jan. $50c (65 delta) &/or Stock
http://www.investmenthouse.com/cd/qlgc.html
Continuing that look solid:
Play Date: 10/01/2003
GIGM (Gigamedia--$2.96; +0.44; no options): Internet service provider
http://biz.yahoo.com/p/g/gigm.html
STATUS: Cup w/handle. GIGM is moving in for the breakout, rallying Tuesday on a big volume surge as it blasts higher in the handle. Outstanding money flow and accumulation supporting this move. Looks ready.
Volume: 5.362M Avg Volume: 2.485M
BUY POINT: $2.98 Volume=2.7M Target=$3.88 Stop=$2.42
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/gigm.html
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SUBSCRIBER PORTFOLIO: These are stocks subscribers suggest by vote that we put in a portfolio to track and move into the stocks if they set up well. Right now they are not performing too well with the exception of AVID.
AVID, DIS, GTRC, KKD, LPNT, OCR, TGT, UTSI
AVID 08/09 Test 18 54.03 -4.76 0 0 1.9M 0 0
Not good as AVID gapped through the 18 day MVA on big volume, its second lurch lower in the past three weeks even though it has held its uptrend. The 50 day MVA and support from 50 to 51. That needs to hold.
DIS 08/09 Test 50 21.95 +0.45 22.06 26.48 7.3M 9M 21.12
Volume is starting to edge higher as DIS tries to get through some resistance at 22. It is doing better as PIXR turns over. An interesting development.
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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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stock recommendation
stock option
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