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Begin part 3 of 3
THE PLAYS
Good movers Thursday: BRKS; CCRD; CYPB; GNXS; NXG; SOFO; TRA; WMGI
Wednesday night play results:
BRKS: Nice volume break higher.
CCRD: Another nice volume break higher.
New Plays for Friday:
Upside:
Play Date: 10/30/2003
AVO (Advanced Medical Optics--$19.38; +0.83; optionable): Medical instruments
http://biz.yahoo.com/p/a/avo.html
STATUS: Cup w/handle. AVO broke out in November and ran steady up to the July high at 19. After that stellar run it had to take a breather, and it fell into the current 4 month base. Accumulation in the base is strong at 5 to 2 (5 up price weeks on rising volume to 2 down price weeks on rising volume), strong money flow, and a relative strength breakout on the Thursday move. AVO had pulled back to the 50 day MVA (18.03) as it formed the handle to the base over the past two weeks. Volume then jumped up Tuesday and Thursday as it jumped off the 50 day. That is good action as it shows the big money stepping in to buy the stock at that key support level. Thursday AVO was making the breakout move on another strong volume shot. Looking to pick it up here on a further volume move.
Volume: 547.4K Avg Volume: 239.181K
BUY POINT: $19.72 Volume=359K Target=$23.68 Stop=$18.34
POSITION: AVO DD - Apr. $20c (44 delta) &/or Stock
http://www.investmenthouse.com/cd/avo.html
Play Date: 10/30/2003
WHT (Wheaton River Minerals--$2.24; +0.06; no options): Gold mining
http://biz.yahoo.com/p/w/wht.html
STATUS: Reverse head and shoulders. WHT was a new issue in December 2002. It formed a 6 month base and broke out in June. It ralled over 2 and then slipped into the current 7 week base. Accumulation in the current pattern is 2 to 1; plenty for the short pattern and after the good run. Thursday WHT jumped to the breakout on strong trade though it gave back a significatn part of the move as the market pulled badk. Still looks solid with strong money flow and a relative strenght breakout on the move. Looking to pick it up here as it continues the run higher.
Volume: 6.172M Avg Volume: 3.261M
BUY POINT: $2.34 Volume=4.9M Target=$3.05 Stop=$2.15
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/wht.html
Continuing that look solid: NOOF; NXG; OPSW; PDYN; SOFO
Play Date: 10/15/2003
NXG (Northgate Exploration--$2.05; +0.1; no options): Gold mining
http://biz.yahoo.com/p/n/nxg.html
STATUS: Breakout. New issue in July, NXG broke out mid-month and then moved laterally for 9 sessions. Thursday it blasted higher out of this flying plateau on very strong volume. A good place to move in on a new issue that is breaking to a new high in a good sector.
Volume: 1.903M Avg Volume: 595.772K
BUY POINT: New: 2.12 (orig. $1.89) Volume=684K Target=$2.48 Stop=$1.78
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/nxg.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
No updates this evening.
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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.
GLW: I want to bring to your attention regarding GLW (corning).I am been trading this stock for almost one year and I have been rewarded better than excellent. Please keep that I mind and please note in your watchlist.
A very steady uptrend over the 50 day MVA for the past year.
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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