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Begin part 2 of 3
PLAYS:
New plays:
Upside:
Play Date: 12/11/2003
AVX (AVX Corp.--$15.91; +0.86; optionable): Passive electronic components (capacitors, etc.)
http://biz.yahoo.com/p/a/avx.html
STATUS: Flat base. AVC is starting a breakout move from its 14 week base that has formed over the 50 day MVA (14.77), a good place to form a base as it shows big money moving in to accumulation positions. Indeed, accumulation is an excellent 4 to 0 (4 up weeks on rising volume to 0 down weeks on rising volume). Strong money flow and relative strength ready to breakout as the stock does as well. Excellent pattern and looking for the breakout move to continue.
Volume: 289K Avg Volume: 321.909K
BUY POINT: $16.15 Volume=450K Target=$19.44 Stop=$15.02
POSITION: AVX EC - May $15c (68 delta) &/or Stock
http://www.investmenthouse.com/ci/avx.html
Play Date: 12/11/2003
OSTK (Overstock.com--$19.39; +1.78; no options): Clearance/firesale retail
http://biz.yahoo.com/p/o/ostk.html
STATUS: Testing the breakout. OSTK reported its sales were strong at the start of the month and it shot higher, blasting out of a 12 week double bottom base. It is now testing that strong move, pulling back to the 10 day MVA (18) on lower, below average volume. It checked up at the 10 day Wednesday and then jumped higher Thursday on stronger, above average volume on the heels of some good retail sales numbers. Money flow is shooting higher and relative strength is ready to try for the second breakout on this move.
Volume: 557.043K Avg Volume: 438.545K
BUY POINT: $20.12 Volume=658K Target=$24.25 Stop=$18.71
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/ostk.html
Play Date: 12/11/2003
QCOM (Qualcom--$50.14; +1.39; optionable): Telecom equipment and licensing
http://biz.yahoo.com/p/q/qcom.html
STATUS: Breakout. QCOM is making the continued breakout from a short 7 week cup with handle that formed after QCOM broke out from a 10 month reverse head and shoulders in September. After a lateral move the past week to test a big surge to start the month when QCOM upped its guidance, QCOM was breaking to a new 52 week high on above average volume. Strong money flow and a relative strength breakout support this move. Looking to pick up some positions here.
Volume: 11.167M Avg Volume: 9.218M
BUY POINT: $50.55 Volume=12M Target=$58.25 Stop=$47.78
POSITION: AAO DJ - Apr. $50c (55 delta) &/or Stock
http://www.investmenthouse.com/ci/qcom.html
Play Date: 12/11/2003
SATH (Summit America TV--$3.37; +0.19; no options): Television stations & Shop At Home Network
http://biz.yahoo.com/p/s/sath.html
STATUS: Testing the breakout. Testing the November breakout from a 17 week base, SATH has eased back to the 50 day MVA (3.18) the past two weeks, holding that key level Wednesday and Thursday, then bouncing off that level on a good volume surge. Accumulation is an outstanding 5 to 1 in the base, setting the foundation for the breakout and subsequent run. Excellent money flow on top of the pattern. We love to enter after the breakout test when the stock starts back up on strong volume as it 'proves up' the breakout by showing investors are ready to move in once more.
Volume: 169.133K Avg Volume: 101.136K
BUY POINT: $3.48 Volume=152K Target=$4.53 Stop=$3.24
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/sath.html
End part 2 of 3
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