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us stock market, stock recommendation
Begin part 2 of 2
THE PLAYS
Good movers Tuesday: CDIS; DRTE (trying a comeback off the 50 day); MIPS (ready to move again); PHMD
NEW PLAYS:
Downside:
Play Date: 05/04/2004
HSIC (Henry Schein--$69.85; -0.91; optionable): Wholesale medical equipment
http://biz.yahoo.com/p/h/hsic.html
STATUS: Put. Tumbled through the 50 day EMA (72.96) on huge volume last week. This week it could not even mount a bounce to test that level, clinging to 70 as potential support. Tuesday it tried to rally but turned down on very strong trade. Diving money flow, and it looks ready to follow it lower.
Volume: 704.819K Avg Volume: 350.409K
BUY POINT: $69.66 Volume=526K Target=$66.12 Stop=$70.88
POSITION: HQE SN - July $70p (-50 delta)
http://www.investmenthouse.com/ct/hsic.html
Upside:
Play Date: 05/04/2004
MYGN (Myriad Genetics--$18.26; +0.21; optionable): Biotechnology
http://biz.yahoo.com/p/m/mygn.html
STATUS: Breakout test. MYGN is testing the breakout from a short 10 week cup base formed over the 50 day EMA (16.82), a good sign of support for a stock to base over that key support level. It came back to test the base, tapping toward the 50 day and then rebounding Monday and Tuesday on continued above average volume. Strong 4 to 1 accumulation (4 up price weeks on rising volume to 1 down price week on rising volume) in the base, showing solid money moving into the stock as it based. Watching for the stock to make the bounce off of this test and continue the breakout run.
Volume: 458.337K Avg Volume: 338K
BUY POINT: $18.62 Volume=507K Target=$22 Stop=$17.48
POSITION: GSQ HW - Aug. $17.50c (64 delta) &/or Stock
http://www.investmenthouse.com/ct/mygn.html
CONTINUING PLAY TABLE:
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http://www.technicaltraders.com/ttr/table.php
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http://www.investmenthouse.com/rescue/rescue.php3
LEGEND
DATE: date play first appeared on report.
PLAY: Denotes the type of pattern or play.
Upside play types: A Wedge=Ascending triangle/wedge; BO=Breakout; Cup=Cup base; Cup hdl=Cup w/handle; DB hdl=Double bottom w/handle; Dbl btm=Double bottom; Flat=Flat base; FlyPlat=Flying Plateau; Pennant=Pennant; Rv H&S=Reverse head & shoulders; Saucer=Saucer base; Test 18=Testing 18 day MVA; Test 50=Testing 50 day MVA; Test BO=Testing the breakout (could be 10 day MVA test, etc.)
Downside play types: CCall=Covered Call; DWedge=Descending triangle/wedge; Dbl Top=Double top; H&S=Head & shoulders; Put (generic downside);
PIVOT=Buy point
Tgt=Target stock price for the play. Applies to stock and options.
Vol=Volume for the most recent session.
TgtV=Target volume to enter the play.
Stop=Stop advisory point. This is advisory and we may or may not exit a play if it hits this level depending upon market conditions.
Upside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
ABMD 04/12 Test BO 12 +0.18 10.88 13 64K 115K 11.41
Current.
ACXM 03/17 Test 18 23.01 -0.09 21.29 25.55 803K 800K 23.22
Current.
ALOG 04/29 Cup hdl 47.88 -0.02 50.28 57.85 56K 159K 48.05
Buy Not Hit.
AMT 04/27 Test BO 13.55 +0.46 13.12 16 2.2M 4M 12.44
Buy Not Issued. With the overall market waffling late, the lack of
serious volume in the stock made us hold off.
ASKJ 04/19 Test BO 37.85 -0.43 39 44.65 3.7M 3.7M 37.32
Current.
ASKJ 03/18 BO 37.85 -0.43 31.44 37.95 3.7M 3.7M 37.15
Current.
ATRX 04/19 Cup hdl 31.07 -0.27 32 38.32 166K 300K 30.05
Current.
AZR 04/04 Test BO 25.93 -0.45 25.56 29.55 326K 400K 25.38
Current.
CDIS 04/24 Cup hdl 29.71 +1.24 28.23 33.78 1.6M 475K 26.62
Current.
CECO 04/28 Test BO 67.49 -0.36 65.15 75 1.7M 3M 63.42
Current.
CERN 03/25 Test 50 42.93 -0.09 47.06 53.88 218K 986K 44.72
Current.
CYTC 03/17 Test 18 21.7 +0.43 21.84 26.22 988K 2.2M 21.71
Current.
CYTC 03/01 Cup hdl 21.7 +0.43 20.24 24 988K 1.7M 21.71
Current.
DRTE 04/20 Flat 17.55 +0.74 18.09 21.45 328K 325K 18.48
Current.
DUSA 04/20 Cup 10.4 -1.01 12.29 14.78 531K 400K 11.88
Exited.
DYAX 04/28 Cup 14.53 -0.45 15.03 17.95 232K 371K 13.69
Current.
FSH 03/29 Flat 58.29 +0.02 54.52 62.75 685K 1.6M 57.02
Current.
HEB 04/24 Cup hdl 4.25 -0.4 4.31 5.17 583K 318K 4.42
Current.
IVGN 04/22 Dbl btm 72.13 -1.02 76.46 87 783K 1.2M 72.39
Current.
JBX 04/28 Test BO 27.01 -0.24 28.32 33.98 211K 500K 27.08
Buy Not Hit.
KOSN 05/03 Cup hdl 14.08 -0.25 14.82 17.72 94K 154K 13.78
Buy Not Hit.
KROL 05/01 A Wedge 30.06 +0.61 30.37 34.55 733K 773K 28.24
Current.
LEXG 05/03 Cup hdl 7.26 +0.01 7.62 9.15 214K 369K 7.09
Buy Not Hit.
LTD 03/22 Test 50 20.75 -0.21 21.16 25.15 2.7M 3.9M 20.48
Current.
MDT 05/03 DB hdl 50.4 -0.85 51.78 59 3.6M 7.5M 49.92
Buy Not Hit.
MIL 02/07 Test BO 52.32 -0.53 50.44 58 559K 500K 53.42
Current.
MIPS 04/21 DB hdl 6.83 +0.32 6.82 8.22 750K 339K 6.34
Current.
NSTK 03/20 Test 18 13.89 -0.05 14.66 17.38 44K 135K 13.63
Current.
PHMD 04/07 DB hdl 3.56 +0.23 3.02 3.82 505K 322K 3.54
Current.
PLXT 03/03 A Wedge 13.41 +0.29 11.26 13.42 184K 218K 13.62
Current.
POTP 04/28 Test 50 6 -0.15 6.88 8.25 42K 95K 6.33
Buy Not Hit.
PRGO 05/01 Test BO 22.05 +0.29 22.06 25.95 569K 712K 21.08
Entered today. This is one we decided to move in on. It faded some
with the market but that gave us a bit better entry
point. Still a very solid pattern.
PTEK 05/03 Test BO 10.59 +0.04 10.88 13.05 664K 1.1M 10.22
Buy Not Issued.
RHI 03/31 DB hdl 27.36 +0.08 25.18 28.85 1.4M 1.1M 27.88
Current.
SKIL 01/03 Cup hdl 13.3 -0.2 9.32 11.24 395K 518K 12.58
Current.
SLXP 05/01 Test 18 31.21 +0.11 32.06 37.88 161K 350K 30.48
Buy Not Issued.
TLCV 03/11 Test 18 12.4 +0.26 12.11 14.34 358K 1.2M 12.12
Current.
TSO 04/20 Test BO 21.32 +0.47 21.35 25.62 560K 1.1M 20.18
Buy Not Issued.
UAG 05/01 Cup hdl 30.78 +0.01 31.55 36.45 205K 250K 29.34
Buy Not Hit.
UTHR 04/29 Test BO 25.46 -0.15 25.74 31 805K 465K 24.05
Current.
WAT 03/20 Cup hdl 43.52 -0.05 40 46.12 968K 850K 40.88
Current.
WSTM 03/08 Cup hdl 2.99 -0.02 2.78 3.65 152K 234K 2.98
Current.
XLTC 04/21 Cup hdl 33.46 +0.2 34.53 39.72 22K 75K 32.11
Buy Not Issued.
Downside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
BG 05/01 Put 36.4 +0.06 37.65 34.45 462K 884K 38.12
Buy Not Hit.
ENR 05/03 Put 44.42 +0.65 44.48 42 532K 500K 45.25
Buy Not Issued. It made the test of the 10 day MVA & fell off high.
Now it looks ready to make the turn back down.
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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us stock market
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