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trade stock, stock split
Begin part 3 of 3
THE PLAYS:
Wednesday night play results:
MDRX: Still in a solid pattern as it works toward the breakout.
NSM: Excellent surge higher on strong trade.
NVDA: Strong surge on strong volume.
RHAT: Nice recovery and breakout on solid volume.
New Plays:
Upside:
Play Date: 03/25/2004
CERN (Cerner--$44.18; +1.11; optionable): Healthcare information service
http://biz.yahoo.com/p/c/cern.html
STATUS: Test 50 day MVA. CERN has come back to the 50 day MVA (43.24) after it tried to breakout from a 13 week reverse head and shoulders in early March. Volume was up on that breakout attempt, but not huge, and the stock drifted back on lighter trade to test support. Accumulation in the base was a strong 7 to 3 (7 up price weeks on rising volume to 3 down price weeks on rising volume) showing money moving into the stock during the base. Solid money flow is up ahead of the stock. Volume did not jump as the stock moved higher Thursday, indicating the stock was not quite ready to make the move. We need to be patient and let the stock make the breakout on strong volume.
Volume: 363.213K Avg Volume: 657.409K
BUY POINT: $45.12 Volume=986K Target=$51.88 Stop=$43.12
POSITION: CQN FI - June $45c (55 delta) &/or Stock
http://www.investmenthouse.com/ci/cern.html
Play Date: 03/25/2004
DKS (Dicks Sporting Goods--$56.58; +2.08; optionable): Sporting goods. Splits 2:1 on 4-6-04.
http://biz.yahoo.com/p/d/dks.html
STATUS: 50 day MVA test. DKS has come back to test the 50 day MVA (54.62), a point that is also just over the early December high. It caught its feet Thursday and jumped higher on strong trade. A strong stock that is still growing earnings. We are looking to pick it up on a continued volume bounce. A very good place to enter a pre-split for its run.
Volume: 1.03M Avg Volume: 285.954K
BUY POINT: $56.88 Volume=450K Target=$65.55 Stop=$54.44
POSITION: DKS FL - June $55c (62 delta) &/or Stock
http://www.investmenthouse.com/ci/dks.html
Play Date: 03/25/2004
TASR (Taser--$64.27; +2.47; optionable): Stun guns
http://biz.yahoo.com/p/t/tasr.html
STATUS: Cup w/handle. TASR has formed a short 5 week pattern to consolidate its strong October to February run. This is just what it needed after its split in mid-February. It has moved back up toward that February high, on the verge of the next breakout. Solid 3 to 0 accumulation in the pattern with surging money flow and relative strength ready to breakout once more. Looks ready to follow money flow higher but may take another day or two to complete the base.
Volume: 3.405M Avg Volume: 4.505M
BUY POINT: $64.86 Volume=6.8M Target=$75 Stop=$60.02
POSITION: QUR FM - June $65c (55 delta) &/or Stock
http://www.investmenthouse.com/ci/tasr.html
Play Date: 03/25/2004
VION (Vion Pharma--$3.75; +0.50; no options): Biotechnology
http://biz.yahoo.com/p/v/vion.html
STATUS: Breakout test. VION broke out of an 8 month base in February and rallied to 4. It spent the past two weeks moving back to test the breakout on very low, below average volume. Thursday it shot higher on very strong trade. Excellent 13 to 3 accumulation in the base set up the move. Money flow is surging higher ahead of price and relative strength is making the next breakout. The first test of the breakout is a very good place to move in as it shows the breakout was for real.
Volume: 2.663M Avg Volume: 1.199M
BUY POINT: $3.86 Volume=1.4M Target=$4.68 Stop=$3.59
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/vion.html
Good movers Thursday: FINL; KFY; NSM; NVDA; RHAT; SGMS; SWK; WOOF
Good Investing!
Jon L. Johnson and your IH Alerts Team
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 in 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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trade stock
stock split
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