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yahoo stock, top stock pick
Begin Part 2 of 2
THE PLAYS:
Reading the Plays: Please note that when we reference the 10, 18, and 50 day moving averages (MVA), those are exponential moving averages (EMA). The 200 day moving average is always simple (SMA). We will note when we reference a particular MVA differently, e.g., a simple 50 day MVA. Please click on the Yahoo and chart links for company and charting information.
Best Plays: PSFT broke above the buy point but pulled back below it; we are keeping an eye on that pattern. DLIA moved up but the volume it got yesterday shrank drastically. FRED broke out on stronger volume, pulling off its high to close. COO moved up on slightly lower volume and looks good here coming off its 18 day MVA (see the 6-12 report for buy points, etc.). KG is testing its breakout. JAKK is ready to break to a new high after today's solid move.
Best Plays:
1) TUTR: A strong move up.
2) FHRX: Moving up in a double handle.
3) HI: Made a solid move today, breaking resistance on the way.
New:
TUTR (Plato Learning--$27.10; +2.05; no options): Diversified Services: Business
http://biz.yahoo.com/p/t/tutr.html
STATUS: Tested the breakout from a cup with handle, moved up, then entered a more extended pullback with price working its way back down to test the 18 day MVA (currently at 24.77). The stock on stronger volume Wednesday moved up from lower support at 24, then followed up today with strong move (volume shot to 1.1 million; avg. 144,000). Now it looks ready to work on the June high at 27.95. The stock shows huge money flow and buying, and relative strength broke out. Target: $35.
BUY POINT: Over 27.95 on continued strong volume. Stop: 26 (10 day MVA, 25.21).
POSITION: Stock.
Updated stocks:
FHRX (First Horizon--$29.55; +1.65; no options): Drug
http://biz.yahoo.com/p/f/fhrx.html
STATUS: Moved up on stronger volume today (106,800; avg. 181,409), finding support at the 18 day MVA (27.90), shaking out the weak holders. The stock is moving up after pulling back from resistance at the 30 level, which pushed price back down and forced the formation of a double handle. FHRX is in a 5-month cup base, and was covered 6-13 when it looked ready to break out of the handle the first time. Handle high is at 30 (though the stock hit an earlier high this month at 31.49, resistance is likely to be stronger at 30). Shows strong money flow and high relative strength. Target: $33-35.
BUY POINT: 30.13, on volume of 272,000 or better. Stop: 28.02 (10 day MVA, 28.38).
POSITION: Stock.
http://www.investmenthouse.com/cd/fhrx.html
ADVS (Advent--$66.76; +0.51; optionable (UIV): Application Software
http://biz.yahoo.com/p/a/advs.html
STATUS: The stock pulled back in the handle to a 9-month cup with handle pattern, tested the 18 day MVA (64.50) and is now moving back up. The stock tapped on the intraday highs today and Wednesday near 69, so that is resistance we want to see the stock move through as it makes a breakout. Volume was strong but down today at 587,800 (avg. 461,000). Previous highs in the base are at 76.50. ADVS shows huge money flow, great buying, and relative strength has broken out ahead of price. Target:
$76-80.
BUY POINT: Breakout: 69.17, on volume of 692,000 or better. Stop: 64.33 (just under the 18 day MVA, 64.50).
POSITION: Stock and/or August $60 calls to buy (UIV HL).
http://www.investmenthouse.com/cd/advs.html
THE PORTFOLIOS: Each report, we look at these to see which is in a buy position. We don't cover them all each time, just the ones that are looking as if they are ready to pick up a few shares. We are "weeding" the portfolios this weekend.
THE LEADERS:
New Leaders: CPN, SGR, ESRX, NATI, LLL, ACS, NVDA, BRKS
Previous Leaders: ADBE, AMCC, ARBA, BEAS, BRCD, CIEN, EMC, EXTR, GLW, JNPR, NEWP, NTAP, PMCS, SCMR, SEBL, VRSN, VRTS
ACS (Affiliated Compute--$74.65; -0.65; optionable (ACS): Computer Software
http://biz.yahoo.com/p/a/acs.html
STATUS: After hitting a high of 77.68, ACS pulled back and is now moving along its 10 and 18 day MVAs (the latter tested on the low of 74.46) for a week now. Volume is dropping off except for Wednesday, when it spiked above average, but was lower than previous sessions today (271,200; avg. 518,409) as the stock pulled back. Since the stock tested the 50 day MVA twice in May, we are looking for the 18 day MVA to hold it here for a move back up in a rally. Look for a bounce back from the 18 day MVA, then the move up on stronger volume. Initial target: $81.
BUY POINT: Aggressive: Up from 74.28 (18 day) on strong volume in a rally. Stop: 69.48. New high: Over 78 on volume of 334,000 or better. Stop: 72.54 (50 day MVA, 71.53).
POSITION: Stock and/or October $70 calls to buy (ACS JN).
http://www.investmenthouse.com/cd/acs.html
Previous Leaders:
ADBE (Adobe--$45.31; +0.01; optionable (AEQ): Application Software
http://biz.yahoo.com/p/a/adbe.html
STATUS: The stock is still below its 200 day MVA (41.47), but the stock has formed a flat base/ranging pattern that is a small double bottom since the end of May (the stock tried to break out of it the last 2 days). Wednesday ADBE broke above a short term and longer term down trendline (latter connecting January and May highs). Volume was lower on that move, and declined again today (though still remains above average at 4.8 million; avg. 4.6 million). The stock is now showing a doji that is sitting on the short term down trendline, holding near the top of Wednesday's strong move. We are looking for a hold of support at the trendline (45 level, where the stock has other price support from Jan/Feb/April/May). Lower support is at the 42.50 level (10 day MVA, at the longer term down trendline).
BUY POINT: Aggressive: On a strong move back over the intraday high (46.39) on rising volume. Stop: 43.14. Breakout: 48.93, on volume of 6.2 million or better. Stop: 40.12.
POSITION: Stock and/or October $40 calls to buy (AEQ JH).
http://www.investmenthouse.com/cd/adbe.html
UP & COMERS PORTFOLIOS: Newer members of the portfolio are LNCR, BJ, ANF, LOW, HI and THQI. Currently existing members are EXDS, TQNT, BVSN, SANM, PKI and GMST.
LOW moved up to made another new closing high today still showing strength, but volume was lower so we are looking for that pullback. LNCR pulled back slightly from Wednesday's strong move. BJ just keeps stepping higher, but that stock will need a pullback, and that is when we will look at getting back in.
HI (Household Internat--$66.71; +2.10; optionable (HI): Credit Services
http://biz.yahoo.com/p/h/hi.html
STATUS: A good day for this sector, and HI took advantage of the break and made a solid move back over the short term MVAs. Volume was stronger at 2.4 million (avg. 2 million). The stock had bettered its 50 day MVA Wednesday. The stock now looks ready to take on the May high (69.98) after making a healthy test back to the 50 day MVA (currently at 64.41). Looking for a move up from here. Initial target: $73.
BUY POINT: Aggressive: Up from here on continued strong volume. Stop: 62.03.
New high: Over 70 on continued rising volume (in the range of 3 million). Stop: At or near the 10 day MVA at 65.10.
POSITION: Stock and/or October $60 calls to buy (HI JL).
http://www.investmenthouse.com/cd/hi.html
MEMBER PORTFOLIO: BRCM, CHKP, CSCO, EMLX, IDTI, INTC, JDSU, MVSN, NT, PWER, SUNW, VTSS
No reports on stocks in this portfolio tonight.
Good Investing!
Jon 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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yahoo stock
top stock pick
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