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stock split, stock pick
Begin part 2 of 3
THE PLAYS
Plays from the weekend report:
CKP: Huge breakout on huge volume.
DNA: Was not quite ready. Going to keep an eye on it as it tests back to the 18 day MVA.
NANX: Gapped higher on volume.
NOVA: Took a bit to get there, but we jumped on it when it made the move on volume.
TARO: Tanked on rising volume.
New Plays:
Play Date: 01/05/2004
ARXX (Aeroflex--$12.87; +1.02; optionable): Aerospace/defense
http://biz.yahoo.com/p/a/arxx.html
STATUS: Flat base. Volume shot higher Monday as ARXX jumped off the 50 day MVA (11.52), moving toward the breakout in its 7 week base. Accumulation is a solid 3 to 1 (3 up price weeks on rising volume to 1 down price week on rising volume). Money flow is excellent, surging up ahead of price even as ARXX starts the breakout move. Ready to make the breakout, and we are ready to pick it up as it does.
Volume: 1.887M Avg Volume: 563.181K
BUY POINT: $13.18 Volume=700K Target=$15.82 Stop=$12.12
POSITION: ARX FV - June $12.50c (60 delta) &/or Stock
http://www.investmenthouse.com/ci/arxx.html
Play Date: 01/05/2004
NUFO (New Focus--$5.28; +0.21; optionable): Semiconductor integrated circuits
http://biz.yahoo.com/p/n/nufo.html
STATUS: Double bottom. NUFO is making the breakout move from its 15 week double bottom. These patterns without handles breakout on a move over the 'hump' in the middle of the pattern. That point is 5.02; NUFO crossed that point Monday on strong trade. Volume has swelled the past threes sessions to above average. Accumulation is positive at 2 to 1 and money flow is shooting higher. Ready to move in here on a further volume move. it may form something of a handle near 5.40, but if we see the volume we are willing to move in.
Volume: 931.49K Avg Volume: 397.227K
BUY POINT: $5.38 Volume=596K Target=$6.55 Stop=$5
POSITION: DBE DA - Apr. $5c (68 delta) &/or Stock
http://www.investmenthouse.com/ci/nufo.html
Play Date: 01/05/2004
OTEX (Open Text--$20.62; +1.52; optionable): Internet software and services
http://biz.yahoo.com/p/o/otex.html
STATUS: Flat base. OTEX is surging off of the 50 day MVA (19.07) on the strongest volume in over 2 months. It is making the break from this 9 week flat base that looks to be the bottom of a 12 week cup that is trying to form. Solid 3 to 1 accumulation in the pattern. OTEX split in late October, and as with most solid stock splits, after it digests its split it is ready to move again. Looking to jump on for a ride back up from the 50 day.
Volume: 774.256K Avg Volume: 523.045K
BUY POINT: $20.88 Volume=650K Target=$25 Stop=$19.62
POSITION: QTF ED - May $20c (62 delta) &/or Stock
http://www.investmenthouse.com/ci/otex.html
Play Date: 01/05/2004
TTMI (TTM Technologies--$18.08; +0.91; optionable): Printed circuit boards
http://biz.yahoo.com/p/t/ttmi.html
STATUS: Reverse head and shoulders. A neat little 9 week base has formed just below an all-time high (25.50), consolidating a nice breakout and run in 2003. Accumulation in the base is 2 to 1 and money flow is surging up ahead of price. Very good price/volume action. TTMI was moving for the breakout Monday on above average volume, but backed off the move. It still hold most of the gain. Looks ready to make the breakout.
Volume: 1.001M Avg Volume: 697.954K
BUY POINT: $18.34 Volume=725K Target=$22 Stop=$16.72
POSITION: UKD CW - Mar. $17.50c (61 delta) &/or Stock
http://www.investmenthouse.com/ci/ttmi.html
End part 2 of 3
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stock split
stock pick
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