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stock recommendation, stock pick
Begin part 3 of 3
THE PLAYS:
Monday nigh play results:
C: Not a bad follow up move.
CPTV: Just traded flat on lower volume. Still solid, just taking a breather.
EEFT: Low volume move laterally. May try to form a handle here.
FSH: Nice volume move off the 18 day MVA.
PPP: Pushed through the 50 day, but on very low trade. Could still roll right back over given the volume.
New Plays:
Still looking for those stocks in good patterns that will be early leaders.
Upside:
Play Date: 03/30/2004
FMDAY (Futuremedia--$1.91; +0.20; no options): Multimedia graphics software
http://biz.yahoo.com/p/f/fmday.html
STATUS: Ascending triangle. This is a short pattern that tends to form in uptrending markets with strong stocks. Price is low but a lot of volume and a strong move late 2003 and this year. This is a 4 week pattern has worked up the 10 day MVA (1.65) on mostly lower volume, but showing some solid volume spikes on up sessions ('get ready' spikes). Tuesday FMDAY was blasting higher out of the base. Accumulation is solid at 2 to 0 (2 up price weeks on rising volume to 0 down price weeks on rising volume), indicating that money moved into this stock even as it moved laterally. Excellent money flow and a relative strength breakout. Solid move underway again.
Volume: 15.184M Avg Volume: 8.273M
BUY POINT: $1.96 Volume=12M Target=$2.55 Stop=$1.77
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/fmday.html
Play Date: 03/30/2004
R (Ryder Systems--$38.46; +1.17; optionable): Ryder rents trucks
http://biz.yahoo.com/p/r/r.html
STATUS: Flat base. R is making the breakout move from a 10 week base that formed over the 50 day MVA (36.41); that is a sign of solid support when a stock takes a breather from a nice 10 point run but does not sell below this key support. Accumulation in the pattern is a solid 3 to 1. Relative strength is making the breakout move as well. The economy looks pretty good. People moving use these trucks, and businesses needing extra shipping capacity use them as well.
Volume: 584.4K Avg Volume: 433.727K
BUY POINT: $38.58 Volume=600K Target=$44.35 Stop=$36.97
POSITION: R HU - Aug. $37.50c (62 delta) &/or Stock
http://www.investmenthouse.com/ci/r.html
Play Date: 03/30/2004
RBK (Reebok--$41.10; +0.79; optionable): Athletic shoes and apparel
http://biz.yahoo.com/p/r/rbk.html
STATUS: Flat base. Volume is surging as RBK makes the breakout move from its 5 month pattern. Gapped higher Monday but gave much of the move back. Much like RHAT and its breakout, it moved right back up afterwards. Accumulation is excellent at 7 to 1. Looking to pick it up as it continues the breakout move.
Volume: 1.236M Avg Volume: 590.772K
BUY POINT: $41.48 Volume=1M Target=$47.72 Stop=$39.62
POSITION: RBK GH - July $40c (60 delta) &/or Stock
http://www.investmenthouse.com/ci/rbk.html
Downside:
Play Date: 03/30/2004
^DJX (1/100 DJ-30--$103.82; +0.52; optionable)
http://biz.yahoo.com/p/d/^djx.html
STATUS: Put. After a lower and lower volume rise up to the exponential 50 day MVA (103.59) DJX is getting setting up to fall. It may make it up to the simple 50 day MVA (104.73), but we are going to be ready for it if it stalls out here and starts lower.
Volume: 1.3M Avg Volume: 1.5M
BUY POINT: $103.55 Volume=1.5M Target=$100 Stop=$104.12
POSITION: DJV QA - May $105p (-65 delta)
http://www.investmenthouse.com/ci/^djx.html
Play Date: 03/30/2004
^OEX (OEX Options--$552.53; +2.07; optionable)
http://biz.yahoo.com/p/^/^oex.html
STATUS: Put. Similar to DJX, OEX has made a low volume rally up to the exponential 50 day MVA (552.74). We are anticipating another test lower before this correction is over. May try a bit higher, but we are going to be ready if it fails here and starts back down.
Volume: 1.3M Avg Volume: 1.5M
BUY POINT: $548.62 Volume=1.5M Target=$530.45 Stop=$553
POSITION: OEB QJ - May $550p (-41 delta)
http://www.investmenthouse.com/ci/^oex.html
Good movers Tuesday: CYTC; DWCH; C; CNMD; FSH; HMP LIFC; MTIC; NVDA; PKZ; RATE; TASR; VOXX; WEBX
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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stock recommendation
stock pick
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