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yahoo stock, us stock market
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.
From last night, QTRN is really moving, heading toward a breakout. Keep a close eye or a Market Alert on that one. COO is trying to make a move as well. HI still looks ready to move higher. And look at MVSN: heading toward a breakout from its pattern on strong volume. We are awaiting the Market Alert on that one!
Best Plays:
1) HMA: Heading to a new breakout.
2) HKF: Lots of momentum and volume.
3) ESRX: Looks like a good entry point.
Updated:
PATH (Ameripath--$30.06; +1.75; optionable): Specialized Health Services
http://biz.yahoo.com/p/p/path.html
STATUS: PATH tried to breakout 7 sessions ago, failed, but now it is trying to do it again. Today a solid gain but on low volume (156,500; average is 196,636); the stock needs a strong volume day as it moves over the breakout point of this 5 month cup with handle (now 2 handles) pattern. Relative strength is already breaking out and money flow is high. Target: 36.60
BUY POINT: 30.50 on volume of 250,000. Stop: 28.36
POSITION: Stock and/or September 25 calls to buy (AQE IE).
http://www.investmenthouse.com/cd/path.html
New
HMA (Health Management Assoc.--$20.63; +0.69; optionable): Hospitals
http://biz.yahoo.com/p/h/hma.html
STATUS: Broke out of its cup with handle 6 sessions ago, but did not get the volume it needed. It is now moving higher toward that breakout on the type of volume it needs (1.59 million today; average is 1.3 million). As with other strong stocks, relative strength is breaking out ahead of this move, a strong sign. This is one of those sectors that continue to perform well. There is a pattern here. Target: 25.45
BUY POINT: 21.21 on volume of 1.95 million. Stop: 19.75
POSITION: Stock and/or November 17.50 calls to buy (HMA KW).
http://www.investmenthouse.com/cd/hma.html
HKF (Hancock Fabrics--$10.45; +0.58; no options): Specialty retail
http://biz.yahoo.com/p/q/qtrn.html
STATUS: HKF has surged on strong volume the past three weeks, and after moving laterally for just over a week, it exploded higher today, hitting a new high. Volume again soared on the move (314,400; average is 97,818). This specialty retailer is doing very well, and we want to move in on the move as it moves toward an all-time high at 16. Relative strength broke out, price/volume action is super, and money flow is flying. Target: 16.
BUY POINT: 10.60 on continued above average volume. Stop: 9.85
POSITION: Stock; no options.
http://www.investmenthouse.com/cd/hkf.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.
THE LEADERS: We have revamped this portfolio, dropping for now CPN, SGR, NATI and BRKS. Those stocks have, for the most part, dropped off and need to form bases or do some more work in ones already existing. To the New Leader section we are adding DGX, EBAY, FRX, PSFT, ADVS, and BMET. In the Previous Leader section, VRSN, VRTS, ADBE and SEBL are retained. Ones dropped include AMCC, ARBA, BEAS, BRCD, CIEN, EMC, EXTR, GLW, JNPR, NEWP, NTAP, PMCS and SCMR. All of these stocks will be kept on watch in context with improvement in their sectors and the market.
New Leaders: ESRX, LLL, ACS, NVDA, DGX, EBAY, FRX, PSFT, ADVS, BMET. ACS managed to get back over the 50 day MVA by a hair today, but we still have to be very careful. PSFT also bounced above that level, keeping it out of serious trouble. BMET announced a split but could not hold onto the gains; we still like it, but it is below the 50 day MVA. ADVS did not give us the entry point as it crashed through the 200 day MVA. May not ever get to get in on that one as the pattern has collapsed.
Previous Leaders we are still interested in: ADBE, SEBL, VRSN, VRTS
ESRX (Express Scripts--$50.81; +0.11; optionable): Health services
http://biz.yahoo.com/p/m/mvsn.html
STATUS: After a strong run, ESRX has made almost a necessary pullback to the 50 day MVA (49.74) and has shown two consecutive doji's above that level the past two sessions. Volume has rising slightly, today making it up to average (580,700; average is 622,772). This level of pullback also coincides with the February highs; a very nice test of the strong move higher that started in May. This looks like a great buy point coming when it continues to move higher; stocks have to test the 50 day MVA every once in awhile, and this appears to be what it is doing now.
BUY POINT: Over 52.20 (it has had trouble with the 10 day MVA at 52 the past two sessions) on above average volume.
POSITION: Stock and/or November $45 calls to buy (XTQ KI; less then 100 OI) or November $50 calls to buy (XTQ KJ; 61 delta).
http://www.investmenthouse.com/cd/esrx.html
UP & COMERS PORTFOLIOS: We have revamped the Up & Comers portfolio, and are dropping EXDS, TQNT, BVSN, SANM, PKI and GMST for now, adding BBBY, IGT, RCII, CHS, KG and AEOS.
LNCR, BJ, ANF, LOW, HI, THQI, BBBY, IGT, RCII, CHS, KG, AEOS.
LOW tried to recover above the 50 day MVA, but failed. This might be the last chance to sell if it cannot jump back over tomorrow.
BBBY fell below the 50 day MVA; it too much recover or it is a sell.
ANF is testing the 50 day.
IGT tried to recover, but it did not make it.
CHS was upgraded, but it could not make much headway; we will watch it.
AEOS is struggling to get over the 50 day MVA; it has to make it tomorrow. Volume was good today.
RCII may be ready to give us a 50 day MVA bounce.
MEMBER PORTFOLIO: BRCM, CHKP, CSCO, EMLX, IDTI, INTC, JDSU, MVSN, NT, PWER, SUNW, VTSS
Still tabulating the survey, so if you have any further stocks you want covered, send them in! Let us know with an email, and we will compile the stocks with the most suggestions! Thanks to those who have already sent in picks we really appreciate it! We will begin tallying the returns next week.
BRCM is fascinating in that it is doing nothing regardless of what the market does. It is holding on right at the 50 day MVA, showing another doji. We could still get a trade out of it from here.
http://www.investmenthouse.com/cd/brcm.html
MVSN (Macrovision--$68.47; +2.47; optionable (MVU): Media
http://biz.yahoo.com/p/m/mvsn.html
STATUS: Bounced up off of the 10 day MVA today after tapping that level on its low (65.90) on very strong volume (1.24 million; average is 644,090). We covered this one last night, but this looks strong as relative strength has already broken out and money flow is racing ahead.
BUY POINT: Breakout: 71.62, on volume of 966,000 or better. Stop: 66.61.
POSITION: Breakout: Stock and/or October $70 calls to buy (MVU JN).
http://www.investmenthouse.com/cd/mvsn.html
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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yahoo stock
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