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stock trading, stock split
Begin part 3 of 4
Due to technical difficulties we are having to send four parts this evening. Part 3 contains the new plays. Part 4 will contain wrtieups of existing plays.
THE PLAYS
In each report we prepare full write-ups for those plays that look ready to move. Those that have made the move or are still setting up are discussed in the continuing play table. The purpose is to focus on those stocks that are set to move.
Good movers Wednesday: DVA; MVIS; TASR; ULTI
NEW PLAYS: This section includes plays from all sections other than pre-announcements. Those are contained in the pre-announcement section.
New Post-Split
Play Date: 02/12/2004
DIOD (Diodes--$23.51; -0.43; no options): Semiconductor integrated circuits
http://biz.yahoo.com/p/d/diod.html
STATUS: Test 18 day MVA. DIOD broke out from an 8 week flat base in early January, surged to 26, and then came back to test the 50 day MVA (21.74). It bounced on strong volume from there and is now testing that move on lower, below average volume. The range is tightening up, and it looks ready to continue the move higher. Money flow is outstanding, leading the way higher.
Volume: 33.4K Avg Volume: 120K
BUY POINT: $24.25 Volume=180K Target=$29.12 Stop=$23.08
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cs/diod.html
Play Date: 02/12/2004
RARE (Rare Hospitality--$27.90; +0.55; no options): Restaurants
http://biz.yahoo.com/p/r/rare.html
STATUS: Breakout. RARE broke out of a 14 week cup base, rallying Thursday on strong volume. Accumulation in the base is a solid 4 to 2 (4 up price weeks on rising volume to 2 down price weeks on rising volume), and the base formed at the 50 day MVA (25.64). Both of those are signs of solid support and accumulation of the stock. Looking for a continued move from here to start positions.
Volume: 716.408K Avg Volume: 269.863K
BUY POINT: $28.06 Volume=400K Target=$32.25 Stop=$26.56
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cs/rare.html
Leader Plays: May not be ready for a split but can make us good money and some can grow into split candidates.
Play Date: 02/12/2004
ABGX (Abgenix--$16.53; +0.52; optionable): Biotechnology
http://biz.yahoo.com/p/a/abgx.html
STATUS: Cup w/handle. Trying the breakout from a 5 month base sporting excellent 7 to 2 accumulation. Volume shot higher Thursday as it started the move in a wild, wild session, mostly on the IMCL trading halt. Money flow is excellent, and with the accumulation we are looking for ABGX to continue the breakout.
Volume: 6.657M Avg Volume: 1.243M
BUY POINT: $16.88 Volume=1.8M Target=$20.25 Stop=$15.65
POSITION: AZG GC - July $15c (60 delta) &/or Stock
http://www.investmenthouse.com/cs/abgx.html
Play Date: 02/12/2004
GCOM (Globecomm Systems--$6.49; +0.35; no options): Telecom processing equipment
http://biz.yahoo.com/p/g/gcom.html
STATUS: Cup w/handle. GCOM is working on the handle to a 10 week base sporting excellent 4 to 1 accumulation. The handle is where the stock moves laterally and slightly lower, getting those that bought just before it corrected to get frustrated and get out. When they are gone the buyers outnumber the sellers and it makes the breakout. Money flow is surging ahead of the price, and we are looking for price to follow as volume jumped well above average Thursday.
Volume: 295.56K Avg Volume: 116.727K
BUY POINT: $6.74 Volume=175K Target=$8.12 Stop=$6.27
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cs/gcom.html
Downside:
Play Date: 02/12/2004
RBK (Reebok--$37.75; -0.59; optionable): Athletic shoes
http://biz.yahoo.com/p/r/rbk.html
STATUS: Put. RBK has made a double top with the December and January highs between 40 and 41. It has broken the 50 day MVA (38.80) and the attempt to retake that level has been weak. It ran up to the 10 day MVA (38.45) but then turned over Thursday on continued above average volume. Wednesday it showed a doji below that level on strong trade. Looking for it to continue lower here toward the 200 day MVA.
Volume: 702.5K Avg Volume: 553.772K
BUY POINT: $37.62 Volume=700K Target=$35.62 Stop=$38.55
POSITION: RBK PU - Apr. $37.50p (-40 delta) or RBK PH - Apr. $40p (-65 delta)
http://www.investmenthouse.com/cs/rbk.html
End part 3 of 4
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stock trading
stock split
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