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top stock pick, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers Tuesday: A few. AMZN; ARTX; BXS; CYPB; DKS; EBAY; FL; GIGM; IWM; JNPR; NXTL; ONNN; QLGC; QQQ; SBUX; YHOO.
Monday night play results:
IWM: Nice surge
PUMA: Gapped up on strong volume, but did not like the intraday action and it ended up showing a doji on the gap, not the best pattern.
FL: Making the next break higher on volume out of the lateral move.
New Plays for Wednesday:
Upside:
Play Date: 10/28/2003
OPSW (Opsware--$8.55; +0.21; optionable): Internet software
http://biz.yahoo.com/p/o/opsw.html
STATUS: Ascending triangle. Working on the breakout from a 6 week pattern showing solid 2 to 0 accumulation. It is making a series of higher lows along the 18 day MVA (8.07) with a constant top at 9. Volume has shown some good spikes on upside sessions the past two weeks, something we call 'get ready' spikes because they tell us to 'get ready' for a move. One of those showed up Tuesday. Good money flow leading higher, and we are looking for the stock price to follow.
Volume: 1.547M Avg Volume: 862K
BUY POINT: $8.88 Volume=1M Target=$10.72 Stop=$8.17
POSITION: UWA DU - Apr. $7.50c (70 delta) &/or Stock
http://www.investmenthouse.com/cd/opsw.html
Play Date: 10/28/2003
VOD (Vodaphone--$21.29; +0.82; optionable): Wireless communications
http://biz.yahoo.com/p/v/vod.html
STATUS: Double bottom w/handle. We have been watching VOD form up its base the past two weeks, watching it pullback toward the 50 day MVA (20.31) to form the handle to its 20 week base. Solid 5 to 2 accumulation in the pattern, setting a solid foundation. It tossed a volume spike last Friday and then broke higher Tuesday on another big volume surge. It is making the breakout, but has just cleared the buy point. Thus it is not extended but has already shown us it can move well. Strong money flow shooting higher. Looking to pick up positoins on a further move with strong trade.
Volume: 4.903M Avg Volume: 2.597M
BUY POINT: $21.45 Volume=2.8M Target=$25.75 Stop=$20.62
POSITION: VOD DD - April $20c (70 delta) &/or Stock
http://www.investmenthouse.com/cd/vod.html
Continuing that look solid: CHS; AMSWA; INTC; NXG; ONNN; YHOO
Play Date: 10/23/2003
AMSWA (American Software--$5.89; 0; no options): Applicaiotn software
http://biz.yahoo.com/p/a/amswa.html
STATUS: Testing the breakout. AMSWA has moved down to the 10 day MVA (5.75), tapping that on the low and then rebounding to recoup the session losses. It is holding the breakout on the test even as money flow continues to rise. Relative strength broke out on the move last week and is hanging in there. Looking for the next volume bounce higher.
Volume: 114.169K Avg Volume: 123.727K
BUY POINT: $6.12 Volume=150K Target=$7.45 Stop=$5.62
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/amswa.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
GTRC: Has formed up well, turning into a nice ascending triangle the past 8 weeks. Strong money flow and a relative strength breakout as GTRC gapped higher on strong volume as it broke the highs in the pattern. Solid looking move.
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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.
Here are some new ones sent in by subscribers. Some are already on our watchlist as potential plays.
AFOP; AMEV; GNTX; SRCL; RIMM; CHIR; EXTR; BFLY; CAPA; ELC; TLRK; FCSE; CRUS;
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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top stock pick
stock recommendation
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