trade stock, stock recommendation

Begin part 3 of 3

THE PLAYS:

Weekend play results:
ANSR: Gapped higher and looked great on solid trade but gave it all back.
IMX: Nice volume break higher.
APCS: Nice volume break higher. Have I said that before?
NOVN: Still holding steady.
STHLY: Super break higher.

New Plays:

Upside:

Play Date: 04/05/2004
CHIC (Charlotte Russe Hldg.--$18.75; +0.82; optionable): Apparel stores
http://biz.yahoo.com/p/c/chic.html
STATUS: Breakout test. Broke from a 15 week cup with handle base in mid-March and rallied to 19. Accumulation in the base was strong at 6 to 2 (6 up price weeks on rising volume to 2 down price weeks on rising volume). That showed money moving into the stock during the base, setting up a good foundation. It made the breakout on strong trade and has come back to test, holding the 10 day MVA (18.01). It started to rebound Monday, following strong money flow higher. Love to pick up stocks on their first test of the breakout.
Volume: 351.734K Avg Volume: 213.136K
BUY POINT: $18.88 Volume=375K Target=$22 Stop=$17.56
POSITION: UYC HW - Aug. $17.50c (60 delta) &/or Stock
http://www.investmenthouse.com/ci/chic.html

Play Date: 04/05/2004
MC (Matsushita Electronics--$15.80; +0.23; no options): Electronic equipment
http://biz.yahoo.com/p/m/mc.html
STATUS: Cup w/handles. MC is starting the breakout from its 10 week base sporting strong 5 to 2 accumulation. Volume was sharply higher Monday as it started the move, just what you want to see. Strong money flow and relative strength ready to move up and breakout again as it did on the first breakout. That indicates is a very strong performer in the market.
Volume: 380.9K Avg Volume: 218.363K
BUY POINT: $15.88 Volume=300K Target=$19.12 Stop=$15.22
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/mc.html

Play Date: 04/05/2004
SWKS (Skyworks Solutions--$12.46; +0.57; optionable): Semiconductor integrated circuites
http://biz.yahoo.com/p/s/swks.html
STATUS: Reverse head and shoulders. Breaking higher out of a 7 month pattern on strong volume. Accumulation in the base is a solid 7 to 5, showing money moving into the stock and setting the foundation for a breakout. It actually formed a handle to the pattern this past month, one last shakeout in the pattern. Looks solid in a group that is still trying to recover.
Volume: 6.195M Avg Volume: 4.402M
BUY POINT: $12.55 Volume=5M Target=$15.12 Stop=$11.67
POSITION: GAK HV - Aug. $12.50c (54 delta) &/or Stock
http://www.investmenthouse.com/ci/swks.html

Play Date: 04/05/2004
XRIT (X Rite--$14.82; -0.21; no options): Photographic and other color measuring instrumentation
http://biz.yahoo.com/p/x/xrit.html
STATUS: Cup w/handle. Forming a short handle (the lateral and lower move after the stock reaches close to its prior high when the base started) to its 7 week base. Accumulation is a solid 2 to 0 in the short pattern, showing money has continued to move into the stock even as it corrected. It held just over the 50 day MVA (13.79) on the pattern lows, another sign of solid support. Excellent money flow and volume has kicked up the past week as it has rallied to complete the base; that is the precise price/volume action you want to see. Money flow is excellent. Monday it gapped down to the 10 day MVA (14.64) and then rallied on strong volume.
Volume: 119.502K Avg Volume: 71.272K
BUY POINT: $15.22 Volume=120K Target=$18.28 Stop=$14.35
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/xrit.html

Downside:

Play Date: 04/05/2004
OII (Oceaneering Intl.--$30.17; -0.37; optionable): Oil & gas drilling
http://biz.yahoo.com/p/o/oii.html
STATUS: Put. After a strong run that peaked in early March at 36 OII has turned over. It started to sell and then gapped through the 50 day MVA (31.15) on huge trade and then continued lower. The past week it made a modest rebound on mostly lower trade, moving back up to the 50 day. Monday it tried the 50 day but rolled over on rising volume. Money flow continues to fall ahead of the stock and it looks ready to continue the downtrend.
Volume: 239.9K Avg Volume: 253.636K
BUY POINT: $29.75 Volume=275K Target=$27.72 Stop=$30.95
POSITION: OII QF - May $30p (-45 delta)
http://www.investmenthouse.com/ci/oii.html

Good movers Monday: CHT; FINL; FMDAY; IMX; IVIL; KFY; ONCY; SGMS; STHLY; TINY; TLCV; UBET

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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