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trade stock, stock recommendation
Begin part 3 of 3
We apologize for the delay in part 3. Our mail program decided to go out to lunch on us for ahwile.
THE PLAYS:
Weekend play results:
ABTL: Nice volume breakout!
ALGN: And another nice volume breakout.
NMSS: And more nice volume on a breakout.
RIMM: Nice bounce off the 10 day MVA.
TGA: Still forming up quite nicely on low volume. Just being patient.
New Plays:
Upside:
Play Date: 04/12/2004
ABAX (Abaxis--$21.23; +1.05; optionable): Diagnostic drug substances
http://biz.yahoo.com/p/a/abax.html
STATUS: Flat base. A nice 18 week flat base formed along the 50 day MVA (19.42). Using the 50 day MVA is a good sign of strength as it forms its base. Excellent 6 to 0 accumulation (6 up price weeks on rising volume to 0 down price weeks on rising volume) in the pattern showing that money continues to move into the stock even as it consolidated its 2003 move with this base. Volume was up back above average Monday as it moved up off of the 18 day MVA (20.20). Looking for volume to continue to build as it moves through the buy point.
Volume: 362.171K Avg Volume: 350.318K
BUY POINT: $22.28 Volume=525K Target=$26.25 Stop=$20.72
POSITION: QOX HX - Aug. $22.50c (47 delta) &/or Stock
http://www.investmenthouse.com/ci/abax.html
Play Date: 04/12/2004
APSG (Applied Signal--$29.28; +1.74; no options): Telecom equipment
http://biz.yahoo.com/p/a/apsg.html
STATUS: Cup with handle breakout. Volume is shooting higher as APSG breaks out from a 12 week base that formed at the 50 day MVA (26.41). Positive 4 to 3 accumulation in the pattern and money flow is shooting higher ahead of the stock and relative strength is breaking out. It announced its earnings in February, so this is simply a good breakout.
Volume: 330.414K Avg Volume: 98.5K
BUY POINT: $29.38 Volume=150K Target=$33.85 Stop=$27.55
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/apsg.html
Play Date: 04/12/2004
CATS (Catalyst Semiconductor--$9; +0.03; no options): Programmable integrated circuits
http://biz.yahoo.com/p/c/cats.html
STATUS: Cup w/handle. CATS is working on a weeklong handle to its 8 week base. Accumulation in the pattern is a strong 4 to 1, showing money is moving in even as it pulls back and setting the foundation for the breakout and subsequent run. It used the 50 day MVA (8.12) as support for the formation of the base. Monday volume was up (though still below average) as CATS tapped at the 10 day MVA (8.69) on the low and rebounded to close flat, showing a doji on the candlestick pattern. That big comeback on rising trade tells us to be ready for the breakout. Solid money flow moving up ahead of the stock price.
Volume: 105.187K Avg Volume: 133.681K
BUY POINT: $9.31 Volume=201K Target=$11.22 Stop=$8.66
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/cats.html
Play Date: 04/12/2004
OO (Oakley--$15.91; +0.23; optionable): Sporting goods (sunglasses)
http://biz.yahoo.com/p/o/oo.html
STATUS: Cup w/handle. A nice tight, flat handle has formed the last week to its 8 week base that formed right on top of the 50 day MVA (14.85); again, that is a sign of support for the stock when the buyers use the 50 day MVA to move in an buy shares. Accumulation is solid at 3 to 1, another sign of money moving into the stock during the key base forming process. Very tight handle on very low, below average volume. Looking for a breakout on sharply higher trade.
Volume: 117.5K Avg Volume: 189.045K
BUY POINT: $16.11 Volume=284K Target=$13.38 Stop=$15.38
POSITION: OO HC - Aug. $15c (70 delta) &/or Stock
http://www.investmenthouse.com/ci/oo.html
Good movers Friday: ABTL; ALGN; APCS; CERN; CPTV; HMP; IVIL; MDRX; NMSS; NUS; PHMD; RIMM; TMWD; VRNT; AZO
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 recommendation
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