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Begin part 2 of 3
PLAYS:
New plays:
Upside:
Play Date: 12/22/2003
CYBX (Cybertronics--$31.58; -0.2; optionable): Medical equipment
http://biz.yahoo.com/p/c/cybx.html
STATUS: Double bottom w/handle. Working on the handle to a nice 12 week base showing solid 3 to 1 accumulation (3 up price weeks on rising volume to 1 down price week on rising volume). That shows that the stock was being accumulated during the base and sets the foundation for the breakout and rally. Solid money flow that is out in front of price and holding up even as the stock pulls back on low volume to hold the 10 day MVA (31.42). That is just the action you want to see as it makes this last shakeout of the easy sellers.
Volume: 143.498K Avg Volume: 285.954K
BUY POINT: $32.88 Volume=429K Target=$39.48 Stop=$31.22
POSITION: QAJ DF - Apr. $30c (64 delta) &/or Stock
http://www.investmenthouse.com/ci/cybx.html
Play Date: 12/22/2003
OCLR (Ocular Sciences--$28.3; +0.48; optionable): Medical instruments
http://biz.yahoo.com/p/o/oclr.html
STATUS: Flat base. After rallying since May, OCLR is finally taking a breather, working laterally over the 50 day MVA (26.72) as it trades around the short term MVA. Nice 3 to 0 accumulation as the base formed, indicating a lot of buyside interest and setting the base for the breakout and run. Volume fell off sharply the past two weeks, coming in well below average and then exploded higher Monday. Money flow is strong and is turning up ahead of the stock. This volume spike is telling us to get ready for a breakout move.
Volume: 218.383K Avg Volume: 86.545K
BUY POINT: $29.08 Volume=135K Target=$34.88 Stop=$27.68
POSITION: QLO DF - Apr. $30c (40 delta) &/or Stock
http://www.investmenthouse.com/ci/oclr.html
Downside:
Play Date: 12/22/2003
BBY (Best Buy--$50.45; -1.17; optionable): Electronics stores
http://biz.yahoo.com/p/b/bby.html
STATUS: Put. Retailers in general are getting boxed around, and BBY is continuing lower after peaking in late November and then gapping below the 50 day MVA (54.52). It rallied back up to that level and failed. It has rallied up again, but only made it to the 10 day MVA (52.28) before it rolled over again Monday on rising, above average volume. Money flow is tanking and still under distribution. It may pop back up after the first of the year when the sales results come out, but right now it is under pressure.
Volume: 5.094M Avg Volume: 4.241M
BUY POINT: $49.97 Volume=5M Target=$46.45 Stop=$51.06
POSITION: BBY NJ - Feb. $50p (-44 delta)
http://www.investmenthouse.com/ci/bby.html
Play Date: 12/22/2003
LEXR (Lexar Media--$16.3; -0.48; optionable): Flash cards ('digital film') and memory keys
http://biz.yahoo.com/p/l/lexr.html
STATUS: Put. LEXR formed a head and shoulders October through November, and then broke through the 50 day MVA (18.51) on heavy volume. It tanked to 14 and rebounded to the 18 day MVA (17.29). It fell and rebounded to the 18 day MVA again. It is finding resistance at this point, and it is starting lower again. It can fall to the recent low near 14 and make us a nice return. We like not asking it to necessarily plow new ground lower, but if it does, we will let it and go along for the ride.
Volume: 2.894M Avg Volume: 3.644M
BUY POINT: $15.97 Volume=4M Target=$13.95 Stop=$16.68
POSITION: EQG NW - Feb. $17.50p (-61 delta)
http://www.investmenthouse.com/ci/lexr.html
End part 2 of 3
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