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Begin part 3 of 3
THE PLAYS
Good movers Monday: ACO; AIR; AIRN; ALTI; AZPN; FDRY; HL (kept an eye on it); IDT; MNDO; RWY
Weekend play results:
ACO: Surged on volume with a very nice breakout move.
UVN: Started up off the test of the 10 day MVA on below average volume.
MNDO: Blasted higher on another big volume surge.
New Plays for Tuesday:
Play Date: 12/29/2003
KEI (Keithley Instruments--$18.23; +0.21; optionable): Instruments for production testing, monitoring, etc.
http://biz.yahoo.com/p/k/kei.html
STATUS: Ascending triangle. Currently working through a 7 week base that formed on the heels of the early November breakout from a 15 week cup with handle. Really like these base on base patterns as they clear out the sellers and often precede big runs higher. Solid accumulation and money flow. Volume jumped well above average Monday as KEI moved toward the breakout. Just being patient and looking for another big volume move that puts it over the buy point.
Volume: 101.6K Avg Volume: 67.363K
BUY POINT: $18.62 Volume=150K Target=$22.35 Stop=$17.42
POSITION: KEI DW - Apr. $17.50c (66 delta) &/or Stock
http://www.investmenthouse.com/ct/kei.html
Play Date: 12/29/2003
PAL (North American Palladium--$7.54; +0.46; optionable): Industrial metals
http://biz.yahoo.com/p/p/pal.html
STATUS: Test 50 day MVA (6.60). PAL has put together a series of short bases up off the May low. It has made three approximately 10 week flat bases, breaking out and rallying well in the prior two. It tapped the 50 day last week and recovered on strong trade. Monday it was shooting higher on tremendous volume. Accumulation in the current 7 week pattern is solid at 2 to 0 (2 up price weeks on rising volume to 0 down weeks on rising volume). Outstanding money flow. Looking for the move to continue and we jump on board as it clears the early December high (7.57) on continued strong trade.
Volume: 492.3K Avg Volume: 209.59K
BUY POINT: $7.68 Volume=314K Target=$9.25 Stop=$6.98
POSITION: PAL CU - Mar. $7.50c (56 delta) &/or Stock
http://www.investmenthouse.com/cd/pal.html
Play Date: 12/29/2003
AMSC (American Superconductor--$13.60; +1.64; optionable): Electricity products using superconducting materials
http://biz.yahoo.com/p/a/amsc.html
STATUS: Cup w/handle. Monday AMSC was making the breakout from its 17 week base, blasting higher on strong trade. We saw the breakout, and it is still a buy from here. Accumulation in the base is a solid 3 to 1, setting a great foundation for the rally after the breakout. Excellent move and still a buy on a further move.
Volume: 581.712K Avg Volume: 302.636K
BUY POINT: New: $13.72 (orig. $13.37) Volume=500K Target=$16.22 Stop=$12.32
POSITION: QAY DV - Apr. $12.50c (66 delta) &/or Stock
http://www.investmenthouse.com/cd/amsc.html
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, COH, DIS, GTRC, KKD, LPNT, OCR, TGT, UTSI, XMSR
XMSR: Strong holiday sales broke it to a new 52 week high on tremendous volume. Clearing resistance is a good time to buy.
OCR: Nice break higher to a 5 year high.
LPNT: Setting up well over the 50 day MVA. Strong volume on a move over 30 is a good buy point.
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.
BSX: Banging around in a trading range from 34 to 36.50, holding over the 50 day MVA. Looking quite good here if it can make the breakout on strong trade.
SYNA: Nice breakout test, tapping the 18 day MVA on the intraday low and rebounding. Nice two week lateral test. Looks ready to continue the move.
NXTP: Moving up to the breakout from an 8 week base that formed over the 50 day MVA. A move over 13 on strong trade.
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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