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us stock market, top stock pick
Begin part 3 of 3
THE PLAYS
Wednesday night play results:
MDRX: Still moving in the lateral breakout test.
NSM: Nice break higher on strong volume.
WOR: Did not surge Thursday as it was a day for the downtrodden stocks. Still in a good pattern.
New plays for Friday:
Upside:
Play Date: 03/25/2004
CRIO (Corio--$3.80; +0.48; no options): Application software
http://biz.yahoo.com/p/c/crio.html
STATUS: Ascending triangle. Volume started surging last week as CRIO tried the breakout from its 6.5 month base. It could not finish off the move as the market started to sell, but it held up in the pattern and when the time was right shot higher once more. That day was Thursday as CRIO broke out of the pattern on tremendous volume. A nice base using the 200 day MVA (2.53) on the low below a constant price top at 3.60. Accumulation is a solid 6 to 4 (6 up price weeks on rising volume to 4 down price weeks on rising volume). Looking to move in when CRIO makes the breakout.
Volume: 2.016M Avg Volume: 304.227K
BUY POINT: $3.88 Volume=456K Target=$4.66 Stop=$3.57
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/crio.html
Play Date: 03/25/2004
DVA (Davita--$46.63; +1.53; optionable):Health services
http://biz.yahoo.com/p/d/dva.html
STATUS: Flying plateau. Volume was jumping Thursday as DVA headed for the breakout from its 5 week pattern that formed over 44. This pattern formed after the breakout from a 13 week flat base in early February. Accumulation in the current base is a strong 3 to 0 (3 up price weeks on rising volume to 0 down price weeks on rising volume). Excellent money flow leading higher ahead of price and relative strength making the breakout. Nice action and looking to pick it up as it moves through he breakout on continued strong volume.
Volume: 565.2K Avg Volume: 327.863K
BUY POINT: $46.88 Volume=492K Target=$53.95 Stop=$44.76
POSITION: DVA GI - July $45c (68 delta) &/or Stock
http://www.investmenthouse.com/cd/dva.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/cd/vion.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, EBAY; GTRC, HD; KKD, LPNT, OCR, TGT, TJX; UTSI, XMSR
GTRC: Moving toward the next breakout.
HD: Nice volume move Thursday, but the accumulation in the base is just not that great.
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.
Upside:
RELV: Recent split. RELV shot higher March, breaking out of its 3. 5 month base. It tried to breakout of its lateral consolidation Thursday as volume shot higher, but it gave back the move. Still solid.
NBIX: Working in a 10 month base, trying to make the move over 60ish. Volume has surged the past week after surging earlier in the month.
Downside:
EBKR: Massive gap lower 4 sessions back and it is making a weak rebound. Would like to see a further bounce before it is ready to fall again.
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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us stock market
top stock pick
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