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stock pick, stock option
Begin part 2 of 3
THE PLAYS
Plays from the Weekend report:
FARO: Hit the buy point late but no volume. Surged after hours when reported Q4 sales jumped.
MERQ: Edged toward a breakout but low trade.
SNWL: Hit the buy point but not a breakaway move.
TQNT: Gapped higher but lower volume.
New Plays:
Play Date: 01/12/2004
CCUR (Concurrent Computer--$5.75; +0.8; optionable): Video on demand, etc.
http://biz.yahoo.com/p/c/ccur.html
STATUS: Cup w/handle breakout. Explosive break higher Monday on strong volume after CCUR formed a short handle to its 9 week base. Accumulation in the pattern is outstanding at 5 to 0 (5 up weeks on rising volume to 0 down weeks on rising volume), money flow is surging, and relative strength broke out. The acccumulation shows us the stock was being bought even as it pulled back while the relative strength breakout shows the breakout has some legs. Volume surged as it completed the cup just as it should. Now we move in as it continues the breakout.
Volume: 4.586M Avg Volume: 839.363K
BUY POINT: $5.83 Volume=1.3M Target=$7 Stop=$5.42
POSITION: URC EA - May $5c (73 delta) &/or Stock
http://www.investmenthouse.com/ci/ccur.html
Play Date: 01/12/2004
CYTO (Cytogen--$13.35; +1.06; no options): Diagnostic substances
http://biz.yahoo.com/p/c/cyto.html
STATUS: Double bottom w/handle. CYTO is moving toward the breakout from a 14 week base showing solid 4 to 2 accumulation. Volume jumped Monday as it moved up to the 'hump' in the middle of the pattern, but CYTO backed off the high (14) on the close. Looking for a continued strong volume move as our entry point. Surging money flow and we are looking for CYTO to follow it higher.
Volume: 277.543K Avg Volume: 104K
BUY POINT: $13.54 Volume=200K Target=$16.25 Stop=$12.59
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/cyto.html
Play Date: 01/12/2004
ISSI (Integrated Silicon--$19.75; +1.65; optionable): Semiconductor memory chips
http://biz.yahoo.com/p/i/issi.html
STATUS: Cup. ISSI is breaking out on high volume from a short base formed in November and December. Accumulation is strong at 4 to 1 and money flow is surging as the stock makes its breakout. Volume has been very strong and we are looking for a continued move. The current pattern formed over the 50 day MVA (15.89), another indication of support as buyers did not let it fall below that key support level. Still a buy on a continued move higher that is still showing good trade.
Volume: 1.429M Avg Volume: 581.454K
BUY POINT: $19.88 Volume=950K Target=$23 Stop=$17.98
POSITION: IUH FD - June $20c (55 delta) &/or Stock
http://www.investmenthouse.com/ci/issi.html
Play Date: 01/12/2004
TKLC (Tekelec--$18.9; +1.39; optionable): Telecom processing systems
http://biz.yahoo.com/p/t/tklc.html
STATUS: Flat base. TKLC is surging out of a 21 week base formed between 15 and 18. Accumulation in the base is excellent at 6 to 1. Volume surged the past week as TKLC rallied up in the pattern. It backed off last week, tested the 10 day MVA on the Friday low, and that sent it higher. Excellent money flow to go along with the accumulation. Looking to pick it up on a continued move on solid trade.
Volume: 934.681K Avg Volume: 392.318K
BUY POINT: $19.04 Volume=750K Target=$22.85 Stop=$17.71
POSITION: KQ EW - May $17.50c (70 delta) &/or Stock
http://www.investmenthouse.com/ci/tklc.html
End part 2 of 3
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stock pick
stock option
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