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stock recommendation, stock investment information
Begin part 3 of 3
THE PLAYS
Good movers Monday: NOOF; DKS; SINA; TELM
Weekend play results:
NOOF: Nice breakout from its neat little pattern.
SINA: Gapped higher and held most of the gain. After hours reported solid earnings, sold off and then rallied back sharply to tack on some gain to its closing price.
QQQ: Started up off the 50 day MVA again but stalled out at the 18 day MVA. Still looking for it to clear that level.
New Plays for Tuesday:
Upside:
Play Date: 10/27/2003
IWM (Ishares Russell 2000--$102.73; +1.48; optionable): Ishares, Russell 2000 Index
http://biz.yahoo.com/p/i/iwm.html
STATUS: Test 50 day MVA. Small caps were the clear leaders Monday, posting a 1.5% gain. The move took IWM up to the 18 day MVA (102.88) where it stalled, but it was a solid move nonetheless. These leaders are starting to lead again, and we are looking for IWM to break through these short term MVA and give us a nice upside play.
Volume: 3.751M Avg Volume: 2.938M
BUY POINT: $103.05 Volume=4.4M Target=$107 Stop=$100.48
POSITION: IWT LW - Dec. $101c (74 delta)
http://www.investmenthouse.com/cd/iwm.html
Play Date: 10/27/2003
PUMA (Pumatech--$6.65; +0.84; optionable): Application software
http://biz.yahoo.com/p/p/puma.html
STATUS: Ascending triangle. PUMA broke from a 3.5 month flat base running from June to mid-September, making a strong move to 7 on a huge volume surge. It has since worked laterally and up the 18 day MVA (5.87), using that as suport as it tries to break over 6.75. It is showing good price/volume action and positive 2 to 1 accumulation in the current 4 week pattern. Money flow is shooting higher and relative strength broke out Monday as PUMA shot higher on strong volume as it received favorable commentary. That could prove to be the catalyst in what is just a very nice base on base pattern. Looking to jump on it from here on a further volume move higher. Sweet little pattern.
Volume: 3.548M Avg Volume: 926.454K
BUY POINT: $6.78 Volume=1.4M Target=$8.48 Stop=$6.18
POSITION: PUP DU - Apr. $7.50c (62 delta) &/or Stock
http://www.investmenthouse.com/cd/puma.html
Continuing that look solid: CHS; AMSWA; BSX; DIS; FL; NXG; TTP
Play Date: 10/11/2003
FL (Foot Locker--$17.4; +0.35; optionable): Athletic shoe stores
http://biz.yahoo.com/p/f/fl.html
STATUS: Ascending triangle. FL continues a tight lateral move the past two weeks at the end of its 9 week base. It has moved between the 18 day MVA (17.11) on the low and 17.50 on the high,. Solid 3 to 1 accumulation in the base with money flow turning back up the past two sessions and relative strength makign a breakout Monday as volume surged back above average. Very good action and ready for the next move.
Volume: 1.062M Avg Volume: 834.045K
BUY POINT: New: $17.62 (orig. 17..38) Volume=1.4M Target=$20.88 Stop=$16.95
POSITION: FL AW - Jan. $17.50c (40 delta) &/or Stock
http://www.investmenthouse.com/cd/fl.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 22.14 +0.34 22.06 26.48 7.6M 9M 21.12
Making the breakout from its 11 week cup with handle base. Solid volume with money flow leading the way higher.
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SUBSCRIBER WATCHLIST
We continually receive ideas for potential plays from our subscribers. Many times they are already on our watchlists, other times not. We always take a look at them and sometimes find a few pearls. This weekend we are starting a new feature where we include some subscriber choices that could develop into plays. We are not necessarily endorsing these, but want to provide a forum for subscribers with ideas that may appeal to their portfolio. Typically we will put these on without commentary, but if we see something we really like or dislike we will point it out. That way we can maybe come up with some new plays, find some plays that may fit your style, and have another great educational tool to discuss problems or good aspects about stocks our subscribers are looking at.
ACF: Nice 6 week ascending triangle using the 50 day MVA as the support and sporting solid 3 to 1 accumulation. Triangle follows the breakout from a 14 week cup with handle base. These base on base patterns with a triangle as the second base can provide some strong breakouts.
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 investment information
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