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stock pick, stock option
Begin part 2 of 3
THE PLAYS:
Monday night play results:
SCHN: Low volume bounce to the 10 day MVA. Ready to fall now.
GEB: Nice volume move continues.
IDXX: Just needs a bit more volume.
JDSU: Still a nice, low volume test of the breakout underway.
VTSS: Jumped up on stronger volume but gave us a head fake and gave the move back.
AMXC: Better volume as it started up, but needs more strength.
New Plays:
Downside:
Play Date: 02/03/2004
PHTN (Photon Dynamics--$37.41; -0.72; optionable):
http://biz.yahoo.com/p/p/phtn.html
STATUS: Put. Looked good with a nice breakout in mid-January, but then rolled over almost immediately. It plunged through the 50 day MVA (39.52) 4 sessions back on big volume and has bounced back up to test that level Monday and failed. Looks ready to head lower to the September and October tops.
Volume: 211.107K Avg Volume: 325.954K
BUY POINT: $37.22 Volume=489K Target=$34 Stop=$35.22
POSITION: PDU OH - Mar. $40p (-69 delta)
http://www.investmenthouse.com/ci/phtn.html
Upside:
Play Date: 02/03/2004
CCRN (Cross Country--$18.74; +0.66; optionable): Staffing and outsourcing
http://biz.yahoo.com/p/c/ccrn.html
STATUS: Test breakout. Staffing services are doing well, seeing the pickup in employment reflected in their numbers even though permanent hires are not showing up on the non-farm payrolls. It broke out of a 14 week cup base in early January and shot up to 19.93 on the high. It faded back the past two weeks on low volume, coming back to the 18 day MVA (18.11) in the test. Tuesday it was up on a big shot of above average volume, jumping off the 18 day. Money flow is jumping up ahead of price and relative strength broke out on the first move, a solid indication of the stock's performance. Looking to pick it up on a further volume move ahead of the jobs report.
Volume: 474.574K Avg Volume: 286.863K
BUY POINT: $19.06 Volume=430K Target=$22.88 Stop=$18.08
POSITION: QCK FW - June $17.50c (68 delta) &/or Stock
http://www.investmenthouse.com/ci/ccrn.html
Play Date: 02/03/2004
JADE (LJ Intl.--$5.56; +0.39; no options): Jewelry
http://biz.yahoo.com/p/j/jade.html
STATUS: Double bottom w/handle. JADE looks to be making the breakout move from a 6.5 month base sporting strong 8 to 4 accumulation (8 up price weeks on rising volume to 4 down price weeks on rising volume). The base formed at the 50 day MVA (4.53); that along with the accumulation shows there is some big money supporting the stock. Volume has surged the past three weeks as the stock formed the right side of the base, and that is the exact price/volume action you want to see. Jumping higher Tuesday on strong volume. Looking to move in on a further move on continued strong trade.
Volume: 433.66K Avg Volume: 161.59K
BUY POINT: $5.68 Volume=242K Target=$7.12 Stop=$5.28
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/jade.html
Play Date: 02/03/2004
OMCL (Omnicell--$19.80; +0.80; no options): Medication and supply dispensing systems
http://biz.yahoo.com/p/o/omcl.html
STATUS: Ascending triangle. OMCL broke out of a 12 week cup with handle base in early July and then moved up the 18 day MVA (18.28) while keeping a more or less constant high at 19.60. This base on base combination is one that can lead to nice gains on the breakout from the second base. Surging money flow and a relative strength breakout attest to its strength, and Tuesday volume was shooting higher as OMCL headed or the breakout. Earnings announced 1-26. We are looking to move in on a continued breakout move.
Volume: 916.423K Avg Volume: 226.09K
BUY POINT: $19.96 Volume=450K Target=$23.95 Stop=$18.56
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/omcl.html
End part 2 of 3
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stock pick
stock option
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