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us stock market, trade stock
Begin part 3 of 4
New plays contained in this part. Continuing play full write-ups are contained in part 4.
THE PLAYS
Good movers Tuesday: AVO; DRTE (rebounding off the 50 day)
In each report we prepare full write-ups for those plays that look ready to move. Those that have made the move or are still setting up are discussed in the continuing play table. The purpose is to focus on those stocks that are set to move.
NEW PLAYS: This section includes plays from all sections other than pre-announcements. Those are contained in the pre-announcement section.
New Post-Split buy points:
Play Date: 05/04/2004
BKST (Brookstone--$20.05; +0.48; no options): Interesting stuff stores
http://biz.yahoo.com/p/b/bkst.html
STATUS: Test breakout. Nice action as it comes back to test the breakout, holding over the 18 day EMA (19.13) on a gap lower, then jumping back up Tuesday on strong volume. A nice test after a good breakout and run, with volume running back in and money flow turning up ahead of price. Looks ready to make the next run.
Volume: 270.136K Avg Volume: 129.409K
BUY POINT: $20.25 Volume=200K Target=$23.25 Stop=$18.98
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cs/bkst.html
Play Date: 05/04/2004
FLIR (Flir Systems--$46.11; +0.02; optionable): Scientific & technical instruments
http://biz.yahoo.com/p/f/flir.html
STATUS: Breakout test. FLIR exploded out of a 13 week flat base 2 weeks back, surging to 50 on strong trade. It has come back in the recent market selling, but doing so on lower and lower volume, holding the 10 day EMA (45.77) on the low of the test. Solid 5 to 3 accumulation in the pattern (5 up price weeks on rising volume to 3 down price weeks on rising volume), indicating money was moving into the stock during the base. We really like the first test of a breakout as it 'proves up' the breakout from the base. This one can turn into another preannouncement for us, but it is also in an excellent pattern.
Volume: 307.097K Avg Volume: 384.954K
BUY POINT: $46.62 Volume=577K Target=$53.62 Stop=$45.22
POSITION: FFQ GI - July $45c (61 delta) &/or Stock
http://www.investmenthouse.com/cs/flir.html
Play Date: 05/04/2004
TRMB (Trimble Navigation--$27.02; +1.18; optionable): Scientific & technical instruments
http://biz.yahoo.com/p/t/trmb.html
STATUS: Cup with handle breakout. Excellent pattern and a nice breakout as volume has swelled the past week. Solid 5 to 3 accumulation in the pattern setting up the base. Money flow is solid and relative strength is making the breakout move. Again, a very good looking pattern.
Volume: 821.498K Avg Volume: 446.954K
BUY POINT: $27.32 Volume=670K Target=$31.42 Stop=$25.41
POSITION: TUH HE - June $25c (69 delta) &/or Stock
http://www.investmenthouse.com/cs/trmb.html
New Leader Plays: May not turn into a split play but a solid stock.
Play Date: 05/04/2004
OCLR (Ocular Sciences--$29.84; +1.35; optionable): Medical Instruments
http://biz.yahoo.com/p/o/oclr.html
STATUS: Cup. Working on a 15 week cup, just now starting up the right side, but showing excellent volume as it moves off the 50 day EMA (28.61). Accumulation in the base is already an excellent 4 to 1 (4 up price weeks on rising volume to 1 down price week on rising volume), showing us that money has been moving solidly into the stock during the base. Money flow is surging higher ahead of price, and OCLR is jumping up to follow it.
Volume: 172.069K Avg Volume: 103.772K
BUY POINT: $30.12 Volume=160K Target=$34.55 Stop=$28.01
POSITION: QLO JF - Oct. $30c (49 delta) &/or Stock
http://www.investmenthouse.com/cs/oclr.html
Play Date: 05/04/2004
SSTI (Silicon Storage Tech--$14.30; +0.85; optionable): Semiconductor memory chips
http://biz.yahoo.com/p/s/ssti.html
STATUS: Test 50 day EMA. They say that chips do better during the initial phase of rate hikes. Well, SSTI is coming back to test the breakout from a 17 week cup base formed along the 50 day EMA (13.65). It broke out in early April and surged well over 16. it has come back to test that move on mostly lower volume, holding at the rising 50 day EMA as it does. Accumulation in the base was solid at 6 to 4. Tuesday volume was back above average as SSTI moved of the 50 day. Looking for some better trade as it continues higher.
Volume: 2.579M Avg Volume: 2.105M
BUY POINT: $14.58 Volume=3M Target=$17.52 Stop=$13.56
POSITION: SSU GC - July $15c (46 delta) &/or Stock
http://www.investmenthouse.com/cs/ssti.html
End part 3 of 4
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us stock market
trade stock
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