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trade stock, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers Thursday: CTCH; EGOV; NXG; ORCC; GIGM; PDYN; QLGC; SINA; TTP
Wednesday night play results:
CTCH: Big breakout on huge volume.
NXG: Surging on a great breakout on volume.
LCCI: Started off the 18 day MVA on rising though still below average volume.
New Plays for Friday:
Upside:
Play Date: 10/16/2003
BCON (Beacon Power--$0.85; +0.01; no options): Environmentally friendly, uninterruptable power systems
http://biz.yahoo.com/p/b/bcon.html
STATUS: Pennant. BCON surged during the blackout, coming off its lows in mid-August. It has since moved laterally the past 8 weeks, working up over the 18 day MVA (0.82) on mostly below average volume with occassional volume spikes as it made the next move higher. Accumulation in the lateral pattern is a strong 3 to 0 (3 up weeks on rising volume to 0 down weeks on rising volume). Moving the past two weeks over the 10 day (0.84) on very low, below average volume. Strong money flow and relative strength. Now we just look for the strong volume break higher now that it has digested the big move up.
Volume: 877.798K Avg Volume: 4.373M
BUY POINT: $0.96 Volume=6.6M Target=$1.25 Stop=$0.83
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/bcon.html
Play Date: 10/16/2003
SIRI (Sirius Satellite Radio--$2.37; +0.18; no options): Satellite Radio
http://biz.yahoo.com/p/s/siri.html
STATUS: Cup w/handle. Satellite radio is catching on big time. The leader based on stock prices is XMSR, but SIRI is in a good position here, pulling back to form a short handle to its 4.5 month base. Accumulation in the pattern is an outstanding 7 to 1. Volume has been surging the past week as it rallied up off the 50 day MVA (1.86). A brief pullback to the 10 day MVA (2.13) the past two sessions led to a big bounce Thursday on strong trade. Looks ready for a nice breakout.
Volume: 108.741M Avg Volume: 38.538M
BUY POINT: $2.48 Volume=8M Target=$3.12 Stop=$2.28
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/siri.html
Continuing that look solid: DRRX; ONNN; SOFO; VSV
Play Date: 10/02/2003
SOFO (Sonic Foundry--$1.98; -0.03; no options): Application software
http://biz.yahoo.com/p/s/sofo.html
STATUS: Testing the breakout. After a strong surge in late September, SOFO is testing the breakout, coming back to test and hold the 18 day MVA (1.85), the near support. Moving mostly laterally with soaring money flow. Tried to make the move Tuesday on strong volume but stalled out a bit. Looking for it to clear the recent highs of this week on another above average volume surge.
Volume: 145.348K Avg Volume: 206.5K
BUY POINT: New: $2.18 (orig. $2.05) Volume=395K Target=$2.74 Stop=$1.77
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/sofo.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.
AVID, DIS, GTRC, KKD, LPNT, OCR, TGT, UTSI
AVID 08/09 Test 18 54.61 +2.55 0 0 1.3M 0 0
Making the bounce up off the 50 day MVA on stronger volume just as a stock in a strong uptrend should. Still looking for it to clear the 10 day MVA (55.44) on continued strong trade to enter.
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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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trade stock
stock recommendation
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