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Begin part 3 of 3

THE PLAYS

Good movers Tuesday: CORI; FMTI; GEB; OHI; SYMM

Monday night play results:
GEB: Continuing the break higher on more solid trade.
JDSU: Still testing the 10 day MVA on low volume.
SMH: Making a lower volume move up toward the 50 day MVA. That point will be the critical one.

New plays for Wednesday:

Play Date: 02/03/2004
MLNM (Millennium Pharm--$18.07; +0.11; optionable): Drugs
http://biz.yahoo.com/p/m/mlnm.html
STATUS: Ascending triangle. MLNM is moving in a big 8 month triangle sporting solid 12 to 4 accumulation (12 up price weeks on rising volume to 4 down price weeks on rising volume). This is a pattern that builds pressure from below as the stock makes higher and higher lows below a more or less constant top. MLNM has held over the 50 day MVA (17.33) the past month as it tightens up in the latter stages of the base. This is where it needs to give us the breakout move.
Volume: 3.288M Avg Volume: 4.483M
BUY POINT: $18.44 Volume=6.7M Target=$22.14 Stop=$17.25
POSITION: QMN EW - May $17.50c (61 delta) &/or Stock
http://www.investmenthouse.com/cd/mlnm.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/cd/omcl.html

Downside:

Play Date: 02/03/2004
HAR (Harman Intl.--$70.20; +1.89; optionable): High end car audio, etc.
http://biz.yahoo.com/p/h/har.html
STATUS: Put. A big leader to the upside that made us a lot of money in 2003 looks to be ready to correct into a base to prepare for the next move. It tanked through the 50 day MVA (71.62) Monday on strong trade and immediately tried to rebound Tuesday. Volume was lower, however, and after tapping the 50 day MVA on the high it faded back. Looking for it to fall back down and continue to work on the base. It can make us some nice money just by dropping to a support level at 65. Once they turn, they can sell hard before the bottom of the base is set.
Volume: 1.512M Avg Volume: 549.636K
BUY POINT: $69.96 Volume=1M Target=$65.92 Stop=$71.72
POSITION: HAR ON - Mar. $70p (-47 delta)
http://www.investmenthouse.com/cd/har.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 perform well. If you have any suggestions for additions or deletions, email us. We don't cover them all each report, just when something interesting is developing.

AVID, COH, DIS, GTRC, KKD, LPNT, OCR, TGT, UTSI, XMSR

GTRC: Good earnings pushed it higher Friday, but it is backing off this week on very light trade. Nice recovery, but there is still work to do.

XMSR: Doji below the 50 day MVA. Looks ready to head down further.

KKD: Well, the short sellers are finally making money on KKD. If it keeps dropping they might get even in a month or so.

SUBSCRIBER WATCHLIST

We continually receive ideas for potential plays from subscribers. Many times they are already on our watchlists, other times not. We always take a look and sometimes find a gem or two, or more. We don't necessarily endorse these, but want to provide a forum for subscribers with ideas that may appeal to other subscribers. We may just put on the ticker or we might describe our thoughts as to why or why not we think it is a buy or sell. This is a way we can all learn a bit more and maybe find a few more candidates to make us some good money.

CYPB: This is one to consider for a short sale (no options). It tanked on high volume last week and has made a low volume bounce up to the 10 day MVA. It is showing a doji at that level, and looks ready to roll back over.

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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