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trade stock, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers Wednesday: MXT; STG; SWIR; AZO
Best Plays:
1) JJZ: Nice breakout ready.
2) INSP: Strong stock showing a good pullback.
3) TPTH: Volume is surging as it surges higher.
4) ABMD: Volume is moving higher as it starts the breakout move.
5) FSH: Nice pullback to test the breakout.
6) RHI; Excellent handle.
NEW PLAYS:
Upside:
Play Date: 04/14/2004
ELU (Elinear--$2.81; -0.02; no options): Internet services
http://biz.yahoo.com/p/e/elu.html
STATUS: 50 day MVA test. ELU has formed something of a cup with handle, an 11 week base has used the 50 day MVA (2.76) as support. Accumulation is a solid 3 to 0 in the base (3 up price weeks on rising volume to 0 down price weeks on rising volume), showing money is moving into the stock even as it bases. Money flow is surging higher ahead of the price. We are looking for the price to follow the money higher.
Volume: 20.8K Avg Volume: 175K
BUY POINT: $3.12 Volume=200K Target=$4 Stop=$2.9
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/elu.html
Play Date: 04/14/2004
INSP (Infospace--$42.96; +0.98; optionable): Internet information provider
http://biz.yahoo.com/p/i/insp.html
STATUS: Breakout test. INSP blasted out of a 9 week pattern that somewhat resembles a cup with handle. It bottomed over the 50 day MVA (34.91) and rallied from there. It exploded higher last week, breaking out of the lateral handle. It has come back on lower volume to test that breakout, holding over the 10 day MVA (40.81) on the low before starting higher once more. Excellent money flow and relative strength. Looking for a stronger volume move higher as the breakout test proves successful.
Volume: 985.538K Avg Volume: 957.227K
BUY POINT: $43.55 Volume=1.4M Target=$50 Stop=$40.55
POSITION: IOU GI - July $45c (47 delta) &/or Stock
http://www.investmenthouse.com/ct/insp.html
Play Date: 04/14/2004
JJZ (Jacuzzi Brands--$9.46; +0.26; no options): Hot tubs, etc.
http://biz.yahoo.com/p/j/jjz.html
STATUS: Cup w/handle. Volume is starting to swell as JJZ starts the breakout move from its 9 week base that has formed over the 50 day MVA (8.86), a sign of solid support. Excellent 3 to 0 accumulation in the base and relative strength ready to breakout with the stock. That is a sign that the base is solid and the breakout is likely to have legs. Volume was up Wednesday and we are looking for even more trade as it breaks higher.
Volume: 340.4K Avg Volume: 291.772K
BUY POINT: $9.68 Volume=438K Target=$11.75 Stop=$9.12
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/jjz.html
Play Date: 04/14/2004
TPTH (Tripath Imaging--$10; +0.36; no options): Scientific & technical instruments
http://biz.yahoo.com/p/t/tpth.html
STATUS: Double bottom with handle. Volume has surged the past two sessions as TPTH blasts out of the handle to its 10 week base that formed along the 50 day MVA (9.08). Outstanding 4 to 0 accumulation in the base shows money flowing in as it corrected. Money flow is surging higher ahead of price. Looks as if it is going to continue to follow.
Volume: 341.403K Avg Volume: 209.818K
BUY POINT: $10.12 Volume=315K Target=$12.15 Stop=$9.38
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/tpth.html
CONTINUING PLAYS:
Play Date: 04/12/2004
ABMD (Abiomed--$10.25; +0.58; optionable): Medical instruments
http://biz.yahoo.com/p/a/abmd.html
STATUS: Breakout test. Volume was up Wednesday as ABMD started to make the breakout move. It rallied to 10.69 but was fading in the last half hour. A late pop pushed it to the buy point. It looks solid and a buy on a further move from here on continued solid trade. ABMD shot out of a 5 month cup base to start the month, and has been moving laterally to test that breakout. Very solid 7 to 4 accumulation in the base (7 up price weeks on rising volume to 4 down price weeks on rising volume) shows money flow moving into the stock during.
Volume: 150.307K Avg Volume: 77.272K
BUY POINT: New: $10.32 (orig. $10.25) Volume=115K Target=$12.32 Stop=$9.53
POSITION: IBU IB - Sept. $10c (56 delta) &/or Stock
http://www.investmenthouse.com/ct/abmd.html
Play Date: 04/12/2004
APSG (Applied Signal--$28.28; -0.07; no options): Telecom equipment
http://biz.yahoo.com/p/a/apsg.html
STATUS: Cup with handle breakout. Shot higher Monday but then has been testing since, holding the 18 day MVA (27.40) on the Wednesday low. Volume fell back as it made the test, indicating few sellers. Money flow remains strong as does relative strength. Positive 4 to 3 accumulation in the pattern.
Volume: 60.345K Avg Volume: 97.636K
BUY POINT: $29.38 Volume=150K Target=$33.85 Stop=$27.55
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/apsg.html
Play Date: 04/07/2004
BBOX (Black Box--$56.36; -0.29; optionable): PC hardware
http://biz.yahoo.com/p/b/bbox.html
STATUS: Test breakout. BBOX broke out from its 11 week cup base this past week but volume was never strong and it has just drifted higher. In the market selling it faded but held the 10 day MVA Tuesday (56), showing a nice doji at that near support. Looking for BBOX to finally get some volume and rebound.
Volume: 144.888K Avg Volume: 230K
BUY POINT: $56.98 Volume=354K Target=$65 Stop=$54.72
POSITION: QBX IK - Sept. $55c (61 delta) &/or Stock
http://www.investmenthouse.com/ct/bbox.html
Play Date: 04/13/2004
FORM (Formfactor--$21.37; -0.36; optionable): Semiconductors
http://biz.yahoo.com/p/f/form.html
STATUS: Flying plateau. Continues to work laterally over the 18 day MVA (21) on low, below average volume. This move tests the strong surge to end March where it broke over the 200 day MVA (21 as well). It had to catch its breath after that move, tapping the 18 day MVA again on the Wednesday low. Money flow continues to surge ahead of price and we are looking to pick FORM up as it breaks higher on strong volume.
Volume: 204.885K Avg Volume: 449.09K
BUY POINT: $22.67 Volume=650K Target=$26 Stop=$21.08
POSITION: AFU GX - July $22.50c (44 delta) &/or Stock
http://www.investmenthouse.com/ct/form.html
Play Date: 03/29/2004
FSH (Fisher Scientific--$56.56; -0.02; optionable): Wholesale electronics
http://biz.yahoo.com/p/f/fsh.html
STATUS: Breakout test. Nice surge to start the month is now being tested as volume fades decisively below average volume. It has held the 18 day MVA (56.04), gapping to that level on the Wednesday low and then rebounding to close basically flat. Looking for it to resume the breakout move at this point and follow the strong money flow higher. Good next buy point.
Volume: 545.5K Avg Volume: 1.175M
BUY POINT: New: $57.12 (orig. $54.52) Volume=1.6M Target=$62.75 Stop=$56.58
POSITION: FSH FK - June $55c (44 delta) &/or Stock
http://www.investmenthouse.com/ct/fsh.html
Play Date: 03/24/2004
NVDA (Nvidia--$25.76; +0.13; optionable): PC components
http://biz.yahoo.com/p/n/nvda.html
STATUS: Breakout test. After a strong volume surge in late March NVDA is coming back to test that move, tapping the 18 day MVA (25.20) on the Wednesday low and then rebounding to post a modest gain. Volume was up though still below average on the test and rebound, good action. Looking for volume to surge on the next move to add to positions.
Volume: 4.267M Avg Volume: 4.784M
BUY POINT: New: 26.12 (orig. $23.94) Volume=6M Target=New positions: $31 (orig. positions $28.75) Stop=$25.48
POSITION: UVA FX - June $22.50c (59 delta) &/or Stock
http://www.investmenthouse.com/ct/nvda.html
Play Date: 03/31/2004
RHI (Robert Half Intl.--$24.82; +0.06; optionable): Staffing & outsourcing
http://biz.yahoo.com/p/r/rhi.html
STATUS: Test breakout. Still moving laterally over the 10 day MVA (24.58) as it forms the handle to its 13 week cup with handle base. Very nice base with money flow holding up well ahead of the price and relative strength ready for the breakout. Excellent pattern.
Volume: 506K Avg Volume: 789.772K
BUY POINT: New: $25.38 (orig. $24.02) Volume=1.1M Target=$27.65 Stop=$22.88
POSITION: RHI FX - June $22.50c (69 delta) &/or Stock
http://www.investmenthouse.com/ct/rhi.html
Play Date: 04/07/2004
TSYS (Telecomunications Sys.--$7.72; +0.26; no options): Wireless telecom
http://biz.yahoo.com/p/t/tsys.html
STATUS: Double bottom w/handle. TSYS tested a big deeper than we wanted, tapping at the 50 day MVA (7.02) on the low and rebounding to post a gain on continued improved though still below average volume. A nice 10 week base showing solid 3 to 1 accumulation. Looking for the stock to continue up after this reversal over the 50 day MVA.
Volume: 261.866K Avg Volume: 374K
BUY POINT: $8.46 Volume=570K Target=$10.18 Stop=$7.87
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/tsys.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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