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trade stock, stock tip
Begin part 3 of 3
THE PLAYS
Good movers Monday: ASKJ; AZR; CHT; SWIR; TELK; TLCV
Best Plays:
1) CHIC: Very nice breakout test looks successful.
2) SWKS: Making a nice volume breakout.
3) ACCL: Very nice breakout test underway.
4) ARRY: Nice move up after the breakout test.
5) RHAT: Making the next move up to continue the breakout.
6) SLTC: Another stock making a nice breakout test.
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/ct/chic.html
Play Date: 04/05/2004
EASY (Easylink Services--$1.81; +0.13; no options): Internet software and services
http://biz.yahoo.com/p/e/easy.html
STATUS: Flat base. Volume jumped Monday as EASY started what looks to be the breakout move from its 8.5 month base. Accumulation in the pattern is positive at 7 to 6; all it takes is positive accumulation to tip the scales. Strong money flow is leading the way, an the neat thing is, it can give us a great gain by just reaching its prior high.
Volume: 1.937M Avg Volume: 371.363K
BUY POINT: $1.88 Volume=557K Target=$2.45 Stop=$1.68
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/easy.html
Play Date: 04/05/2004
SWKS (Skyworks Solutions--$12.46; +0.57; optionable): Semiconductor integrated circuits
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/ct/swks.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/ct/oii.html
CONTINUING PLAYS:
Play Date: 04/01/2004
ACCL (Pharmacopia--$22.24; +0.04; optionable): Medical labs
http://biz.yahoo.com/p/a/accl.html
STATUS: Breakout test. After surging Thursday ACCL is making a low volume test, edging back and holding the move. Tremendous money flow and a very nice pattern. It has held the 50 day MVA on the lows. Excellent 4 to 1 accumulation. Looking for another strong move up from here.
Volume: 191.561K Avg Volume: 206.929K
BUY POINT: New: $22.48 (orig. $22.22) Volume=250K Target=$25.75 Stop=$20.66
POSITION: ICQ GD - July $20c (49 delta) &/or Stock
http://www.investmenthouse.com/ct/accl.html
Play Date: 02/25/2004
ARRY (Array Biopharma--$9.40; +0.50; no options): Medical labs
http://biz.yahoo.com/p/a/arry.html
STATUS: Breakout test. Making the move up off the 18 day MVA test (8.83) though volume is not what we want it to be, coming in below average. Nice accumulation as it starts to continue the breakout from its 2 month cup base. Money flow is strong. Now we just want to see more volume.
Volume: 169.108K Avg Volume: 246.545K
BUY POINT: New: $9.52 (orig. $7.90) Volume=300K Target=$11.12 (orig. positions: $9.48) Stop=$8.62
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/arry.html
Play Date: 03/31/2004
GISX (Global Imaging Systems--$34.37; +0.83; optionable): GPS devices
http://biz.yahoo.com/p/g/gisx.html
STATUS: Breakout test. Volume was up Monday, but still below average as GISX started the move up off the 18 day MVA (33.24) test. Nice breakout from a 9 week double bottom with handle in early March. Money flow continues to lead higher, and we want to see volume kick up a bit more as the stock continues to follow it.
Volume: 120.727K Avg Volume: 173K
BUY POINT: New: $34.48 (orig. $33.76) Volume=260K Target=$37.82 Stop=$32.88
POSITION: QHH HG - Aug. $35c (36 delta) &/or Stock
http://www.investmenthouse.com/ct/gisx.html
Play Date: 03/22/2004
LTD (The Limited--$20.55; +0.31; optionable): Apparel stores
http://biz.yahoo.com/p/l/ltd.html
STATUS: Cup w/handle. Sure would like to see some volume as opposed to the limited trade it is showing us. It is making the price move but volume is lagging. Again, this base is actually the handle to a much larger 2 year base. Still a buy if there is some strong volume.
Volume: 2.407M Avg Volume: 3.007M
BUY POINT: New: $20.72 (orig. $19.68) Volume=3.9M Target=$23.62 Stop=$18.88
POSITION: LTD HD - Aug. $20c (43 delta) &/or Stock
http://www.investmenthouse.com/ct/ltd.html
Play Date: 04/03/2004
NCOG (NCO Group--$23.90; +0.02; optionable): Accounts receivable management and collection services
http://biz.yahoo.com/p/n/ncog.html
STATUS: Double bottom. Volume backed off Monday after the nice Friday surge. NCOG tried to rally but fell back without the trade. Still surging money flow shooting ahead of the stock in the 6 month base that formed over the 200 day MVA (22.36). Accumulation in the base is strong at 6 to 2 (6 up weeks on rising volume to 2 down weeks on rising volume) even at this point when it is just starting to turn back up toward the 'hump' in the middle of the pattern at 25.
Volume: 165.44K Avg Volume: 142.772K
BUY POINT: $24.06 Volume=250K Target=$28.45 Stop=$22.96
POSITION: GCQ FX - June $22.50c (74 delta) &/or Stock
http://www.investmenthouse.com/ct/ncog.html
Play Date: 04/03/2004
NOVN (Noven Pharmaceuticals--$23; -0.2; optionable): Drug delivery
http://biz.yahoo.com/p/n/novn.html
STATUS: 50 day MVA test. Volume fell off and NOVN could not continue the move Thursday and Friday that took it off the 50 day MVA (20.73). This 50 day MVA test follow the breakout from a 9 month base back in December. It is making big, sharp bounces off of the 50 day as it makes its breakout run, and it just came back to test the 50 day after the latest run higher. Still holding over the short term MVA (10 and 18 day MVA), and we are just waiting for the volume to come in as it continues to the upside.
Volume: 145.647K Avg Volume: 325.727K
BUY POINT: $23.38 Volume=495K Target=$28 Stop=$21.95
POSITION: NPQ JX - Oct. $22.50c (62 delta) &/or Stock
http://www.investmenthouse.com/ct/novn.html
Play Date: 04/03/2004
QSFT (Quest Software--$16.77; +0.03; optionable): Business software
http://biz.yahoo.com/p/q/qsft.html
STATUS: Cup w/handle. A familiar scenario Monday: volume dropped off and the move that was looking pretty good Friday stalled. Still in an very nice pattern where it is forming the handle to its 3 month base. Solid 4 to 1 accumulation, and we are being patient to let the stock show us the breakout.
Volume: 647.935K Avg Volume: 1.025M
BUY POINT: $16.92 Volume=1.5M Target=$20.32 Stop=$15.74
POSITION: QUD GC - July $5c (78 delta) &/or Stock
http://www.investmenthouse.com/ct/qsft.html
Play Date: 04/01/2004
RCOM (Register.Com--$6.03; -0.20; no options): Internet domain registration
http://biz.yahoo.com/p/r/rcom.html
STATUS: Cup w/handle. Was moving well Friday but then lost the volume and faded Monday. Managed to bounce off the 10 day MVA (5.93) on the low and cut its losses. Still knocking on the door of a breakout from its 7 month base sporting outstanding 12 to 2 accumulation. Money flow continues to surge ahead of price. Still looks ready.
Volume: 73.036K Avg Volume: 134.09K
BUY POINT: $6.24 Volume=225K Target=$7.85 Stop=$5.79
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/rcom.html
Play Date: 03/24/2004
RHAT (Red Hat--$24.68; +0.83; optionable): Internet software and services
http://biz.yahoo.com/p/r/rhat.html
STATUS: Breakout test. RHAT has given us a nice move so far with its solid breakout from its 10 week cup with handle base. It rallied to 24 and then edged back on lower volume to test the 10 day MVA (22.68) to test the move. Monday it was up, continuing the breakout move on rising, above average volume. The first breakout test is a nice place to move into a stock.
Volume: 6.714M Avg Volume: 5.854M
BUY POINT: New: $24.88 (orig. $20.66) Volume=7.3M Target=New: $29 (orig. positions: $24.85) Stop=$21.25
POSITION: RCV FE - June $2c (55 delta) &/or Stock
http://www.investmenthouse.com/ct/rhat.html
Play Date: 04/01/2004
SLTC (Selectica--$5.47; -0.09; no options): Internet services
http://biz.yahoo.com/p/s/sltc.html
STATUS: Breakout test. Still testing the breakout, moving laterally as it holds over the 10 day MVA (5.36). Nice, below average volume as it makes the test shows there is no real selling. A good test of the breakout from its 5.5 month ascending triangle. Money flow continues its move up ahead of price. Just waiting for the strong volume to kick in on the resumption of the breakout move.
Volume: 54.412K Avg Volume: 176.863K
BUY POINT: $5.72 Volume=242K Target=$6.95 Stop=$5.32
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/sltc.html
Good Investing!
Jon L. Johnson and your Technical Traders Report 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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