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Begin part 3 of 3
THE PLAYS
Good movers Tuesday: PDYN; TSCO
Monday night play results:
AVAN Still in the good pattern, but went nowhere Tuesday.
NVLS: Gapped up and we were tempted, but volume was not there.
YHOO: Started up but could not hold the move and we want to see some better trade.
New Plays for Tuesday:
Upside:
Play Date: 10/21/2003
RIC (Richmont Mines--$4.86; +0.26; no options): Gold mining
http://biz.yahoo.com/p/r/ric.html
STATUS: Cup. RIC has formed a short 6 week cup base sporting 2 to 0 accumulation (2 up price weeks on rising volume to 0 down price weeks on rising volume). This short base formed over a long, flat base that started in April 2003. It is basically consolidating the former base. Volume has jumped two of the last four sessions when the stock rallied sharply. Tuesday RIC was breaking out to a high, following strong money flow and a relative strength breakout as well. As the economy recovers and interest rates inevitably move higher, gold is being bought as a hedge against potential inflation.
Volume: 118.3K Avg Volume: 93.59K
BUY POINT: $4.91 Volume=140K Target=$6.38 Stop=$4.57
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/ric.html
Play Date: 10/21/2003
^DJX (1/100 DJ-30--$6.35; -0.3; optionable): DJ30 mini index
http://biz.yahoo.com/p/^/^djx.html
STATUS: Test 10 day MVA. As noted in the summary, the Dow is holding up very well, easing back to test the 10 day MVA (97.23) in a quiet, almost unnoticed move. The action has been incredibly stable with the index trading in a narrow range each session. Tuesday it gapped higher and solid off, but held over the 10 day as volume jumped back above average. It is well primed to make the move. Now it needs to make the move.
Volume: 6.983M Avg Volume: 1.614M
BUY POINT: $97.72 Volume=2.4M Target=$100 Stop=$97.21
POSITION: DJV AR - Jan. $96c (64 delta)
http://www.investmenthouse.com/cd/^djx.html
Continuing that look solid: IDT; YHOO
Play Date: 10/18/2003
IDT (IDT Corp.--$19.15; +0.23; no options): Telecom services
http://biz.yahoo.com/p/i/idt.html
STATUS: Testing the breakout. After blasting out of a 4 month flat base two weeks back, IDT came back to test the 10 day MVA (18.86) on very low, below average volume, tapping that level on the lows and rebounding on the close. Tuesday volume jumped up above average as IDT started back up off the 10 day. Looks good here and ready to continue the breakout move after this very successful looking test.
Volume: 131.4K Avg Volume: 114.214K
BUY POINT: $19.22 Volume=175K Target=$23 Stop=$18.62
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/idt.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
DIS 08/09 Test 50 21.79 +0.24 22.06 26.48 6.4M 9M 21.12
Still working on the handle, holding over the 18 day MVA and under 22. Not a bad 10 week base and just needs some volume on the move through 22.
OCR: Making the breakout on strong volume. Nice move.
* * *
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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