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trade stock, stock ticker
Begin part 3 of 3
THE PLAYS
Good moves Wednesday: CULS; MEDX; MICU; RDEN
Tuesday night play results:
FIX: Moved higher in the base but the volume backed off.
ULGX: Started up off the 10 day EMA but needs some more volume.
WMB: Rallied on volume but could not hold the move.
New plays for Thursday:
Upside:
Play Date: 05/05/2004
ARRY (Array Biopharma--$11.44; +1.39; no options): Medical labs
http://biz.yahoo.com/p/a/arry.html
STATUS: Test breakout. ARRY broke out from a 7 week flat base that formed over the 50 day EMA (9.15) last week, pulled back to the 18 day EMA (10.11) this week, and started to rebound from the test Wednesday. Solid 2 to 0 accumulation in the short base (2 up price weeks on rising volume to 0 down price weeks on rising volume) set the stage for the breakout on strong volume. It needs some more volume on the rebound to drive it past the recent highs. Looks good for one more good breakout run here.
Volume: 241.888K Avg Volume: 245.727K
BUY POINT: $11.65 Volume=369K Target=$13.98 Stop=$10.83
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/arry.html
Play Date: 05/05/2004
IDSY (I.D. Systems--$9.81; -0.26; no options): Telecom equipment
http://biz.yahoo.com/p/i/idsy.html
STATUS: Breakout test. IDSY exploded out of its 6.5 month base on Monday, jumping off the 10 day EMA (9.26) on huge trade. It eased back the past two sessions on lower trade, holding much of the breakout gain. Accumulation in its base is a strong 10 to 3. Money flow is still running higher ahead of price. It may come back to tap at the 10 day before it is ready to resume the move, but we really like these solid breakout tests that hold.
Volume: 52.799K Avg Volume: 81.772K
BUY POINT: From here: $10.22. Test 9.50: 9.78 on the way back up. Volume=123K Target=$12.32 Stop=$9.48
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/idsy.html
Play Date: 05/05/2004
SONE (S1 Corp.--$9.06; +0.31; optionable): Internet software and services
http://biz.yahoo.com/p/s/sone.html
STATUS: Cup w/handle breakout. SONE is making the breakout from a 3.5 month base sporting solid 3 to 1 accumulation and strong money flow. Solid move up off the 50 day EMA (8.03), rallying on a solid jump to above average volume. Looking for the move to continue on more strong trade to move into positions.
Volume: 609.215K Avg Volume: 467.045K
BUY POINT: $9.22 Volume=625K Target=$11 Stop=$11.48
POSITION: FBZ JU - Oct. $7.50c (80 delta) &/or Stock
http://www.investmenthouse.com/cd/sone.html
Downside:
Play Date: 05/05/2004
$OEX (S&P 100 options--$547.19; +0.04; optionable)
http://biz.yahoo.com/p/$/$oex.html
STATUS: Put. Stalling at the 18 day EMA (549.86) with a doji Wednesday as volume died off. The low volume bounce to resistance are classic signs of a waning relief bounce. Looking for a roll down for a quick test of the 200 day SMA (533.23). This one is a more aggressive play given the jobs report Friday, but we want to be ready. Indeed, unless things are very negative Thursday we will hold off to see the reaction to the jobs report, be patient, and see if it gives us an entry point.
Volume: 1.469M Avg Volume: 1.5M
BUY POINT: $545.88 Volume=1.8M Target=$535 Stop=$549.06
POSITION: OEB RI - June $545p (-41 delta)
http://www.investmenthouse.com/cd/$oex.html
SUBSCRIBER PORTFOLIO: These are stocks subscribers suggest by vote that we put in a portfolio to track and move into the stocks if they perform well. If you have any suggestions for additions or deletions, email us. We don't cover them all each report, just when something interesting is developing.
COH, DIS, EBAY, GTRC, HD, LPNT, OCR, TGT, TJX, XMSR
XMSR: Making a low volume rebound to test the break below the 50 day EMA. Could fail here once again and test back toward 22.
SUBSCRIBER WATCHLIST
We continually receive ideas for potential plays from subscribers. Many times they are already on our watchlists, other times not. We always take a look and sometimes find a gem or two, or more. We don't necessarily endorse these, but want to provide a forum for subscribers with ideas that may appeal to other subscribers. We may just put on the ticker or we might describe our thoughts as to why or why not we think it is a buy or sell. This is a way we can all learn a bit more and maybe find a few more candidates to make us some good money.
Upside:
OVNT: A new trucking stock that formed a 3 month cup base, broke out, and is how trying to clear some resistance at 25 to extend the breakout move.
Downside:
RTLX: Low volume rebound to test the break below the 200 day SMA. Retook that level Wednesday, but showing a doji below the 18 day EMA on lower trade. This also marks the solid bottom of the range it broke down from.
VAS: Tanked to end April and has made a weak attempt at a rebound, stalling well below the 200 day SMA at some resistance at 20. Ready to fall back over.
Good Investing!
Jon L. Johnson and The Daily Staff
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 of 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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