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stock split, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers Thursday: AMSC; CHU; GEB; IONA; JNPR; PTNR; RECN; TXN
Wednesday night play results:
SINA: Gapped higher but no volume and faded. Forming that handle and just being patient.
GENE: Surged again on strong volume.
COH: Gapped higher but tanked back to the simple 50 day MVA.
New Plays for Friday:
Play Date: 01/08/2004
LFUS (Littelfuse--$30.93; +0.7; no options): Circuit protection products for electronics industry
http://biz.yahoo.com/p/l/lfus.html
STATUS: Cup w/handle, reverse head and shoulders. LFUS is make a breakout on strong volume from a short 6 week base. The base formed over the 50 day MVA (28.47), a sign of strength as it consolidated. Accumulation in the short pattern is a solid 4 to 1 (4 up price weeks on rising volume to 1 down price week on rising volume); that shows additional institutional accumulation in addition to the base forming over the 50 day. Money flow is surging up ahead of price. Very good price/volume action as well. Unlike many stocks LFUS is not extended and we are willing to start some positions on a further move on continued strong volume.
Volume: 298.061K Avg Volume: 95.545K
BUY POINT: $31.12 Volume=145K Target=$37.35 Stop=$29.65
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/lfus.html
Play Date: 01/08/2004
SYMM (Symmetricom--$7.82; +0.32; no options): Telecom equipment
http://biz.yahoo.com/p/s/symm.html
STATUS: Flat base. SYMM is trying to make the breakout from a 10 week base that has formed, for the most part, over the 50 day MVA (7.03). In mid-December SYMM tanked below that level, but was able to recover and resume the base. It broke higher to starte the year but then faded a bit. Thursday it tapped the 50 day MVA on the low and then rebounded for a nice gain on strong trade. Outstanding accumulation at 5 to 0 and surging money flow. Got a bit volatile, but the buyers poured in. Ready to take positions on a definitive break higher.
Volume: 1.294M Avg Volume: 230.681K
BUY POINT: $8.02 Volume=346K Target=$9.75 Stop=$7.44
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/symm.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
Play Date: 01/07/2004
COH (Coach--$38.06; -0.71; optionable): Handbags, etc.
http://biz.yahoo.com/p/c/coh.html
STATUS: Test 50 day MVA. COH split back in October and rallied up to 40 to start December, moving well ahead of the holiday numbers. After that it needed a rest, dropping to the 50 day MVA (35.99). It held 50 day MVA, an indication of institutional support. It has held that level and worked laterally the past three weeks. The past two sessions volume has started to jump. COH announced its December results were better than expected. It tested the 18 day MVA on the Wednesday low (37.20) and rebounded. Looking for a break over the recent highs to enter.
Volume: 3.722M Avg Volume: 1.785M
BUY POINT: $39.25 Volume=2.7M Target=$47 Stop=$37.38
POSITION: COH EH - May $40c (54 delta) &/or Stock
http://www.investmenthouse.com/cs/coh.html
Continuing:
Play Date: 12/18/2003
RHAT (Red Hat--$19.09; +0.5; optionable): Internet, computer software
http://biz.yahoo.com/p/r/rhat.html
STATUS: Testing the breakout. After an excellent gap higher in mid-December and a run up from there, RHAT is moving laterally the past two weeks, holding steady as the 10 day MVA (18.40) rises to meet it. When stocks make strong breakouts and then move in these flying plateaus, the 10 day MVA tends to set off the next leg when it rises to tap the stock. Volume has been surging the past three sessions. Lots of good things being said about it as well. Despite that we think it will make the next break higher.
Volume: 10.79M Avg Volume: 4.746M
BUY POINT: New: $20.06 (orig. $16.51) Volume=5.5M Target=New positions: $24 (orig. positions $19.58) Stop=$17.69
POSITION: RCV CV - Mar. $12.50c (79 delta) &/or Stock
http://www.investmenthouse.com/cd/rhat.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
AVID: Broke over the 50 day MVA on volume and has moved laterally the past two sessions on lower trade. This is setting up for the next move off the 50 day, but it has to have a lot of volume.
OCR: Nice break higher off the 10 day MVA as OCR continues its run after testing the 50 day in mid-December.
LPNT: Outstanding gap higher.
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. We are including 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.
ZRAN: Nice surge to clear the 200 day MVA this week and now moving laterally over that level. A few more sessions of lateral movement could set it up for a run toward 24.
AWE: Setting up a nice cup base, currently 4 months in the making. It needs to form a handle and looks to be starting one here at some resistance at 8.50.
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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stock split
stock recommendation
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