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stock recommendation, stock option
Begin part 3 of 3
THE PLAYS:
Wednesday night play results:
ARRY: Took a breather on lower volume, holding the 10 day EMA.
IDSY: Tested the 10 day EMA and rebounded for a gain. Now it is set.
MACE: Moved back to the 18 day EMA, testing the big gap Wednesday.
OEX: Rallied back from a test of 540.
New Plays:
Upside:
Play Date: 05/06/2004
HLEX (Healthextras--$13.90; +0.20; optionable): Insurance brokers
http://biz.yahoo.com/p/h/hlex.html
STATUS: Cup w/handle. Excellent pattern has formed the past 20 weeks and is now setting the handle to the base where it shakes out he last sellers as it approaches the old high but then starts to stall. That gets the last frustrated investors out and clears the way for a breakout. Excellent 8 to 3 accumulation in the pattern (8 up price weeks on rising volume to 3 down price weeks on rising volume) has set the foundation for the move and shows us that money has moved in during the pullback. Huge money flow is moving up ahead of the stock, and we are looking for price to follow and give us the breakout. An A+ stock in terms of fundamentals and pattern.
Volume: 449.582K Avg Volume: 184.318K
BUY POINT: $14.34 Volume=300K Target=$17.25 Stop=$13.34
POSITION: HUE IC - Sept. $15c (45 delta) &/or Stock
http://www.investmenthouse.com/ci/hlex.html
Play Date: 05/06/2004
NXTP (Nextel Partners--$14.87; +0.06; optionable): Wireless communications
http://biz.yahoo.com/p/n/nxtp.html
STATUS: Cup. We have been watching NXTP for three weeks now. It ahs formed a 4 month base over the 50 day EMA (13.23), really jumping this week after a shakeout in late April. Excellent 6 to 1 accumulation in the base. It has rallied back up to the prior high that started the base and now may move laterally to form a handle to the pattern. We are ready for either a handle where it moves laterally for a few days and then breaks higher or a breakout from here. Either way it is a solid pattern with surging money flow and relative strength already making the breakout.
Volume: 3.565M Avg Volume: 1.967M
BUY POINT: $15.09 Volume=3M Target=$18 Stop=$14.03
POSITION: KTU HC - Aug. $15c (53 delta) &/or Stock
http://www.investmenthouse.com/ci/nxtp.html
Play Date: 05/06/2004
PCSA (Airgate--$19.42; -0.24; no options): Domestic telecom services
http://biz.yahoo.com/p/p/pcsa.html
STATUS: cup w/handle. Very nice 10 week base has formed roughly at the 50 day EMA (17.56), a sign of strong support at this key level. Accumulation in the base is positive at 3 to 2, money flow is solid and moving up ahead of the stock. A very nice, tight handle is forming over the 10 day EMA (19.17) on mostly lower, below average volume. Another A rated stock in terms of pattern and fundamentals.
Volume: 31.981K Avg Volume: 75.727K
BUY POINT: $20.62 Volume=114K Target=$24.75 Stop=$19.12
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/pcsa.html
Downside:
Play Date: 05/06/2004
NTE (Nam Tai Electronics--$17.32; -0.95; optionable): Business equipment
http://biz.yahoo.com/p/n/nte.html
STATUS: Put. Has been trending lower since December, and then really tanked in late April. It has bounced back up to test the 10 day EMA (18.98), rolling back over after the move Thursday. Looking for a further fall from here to continue the downtrend.
Volume: 1.616M Avg Volume: 893.09K
BUY POINT: $17.12 Volume=1.3M Target=$14 Stop=$19.02
POSITION: NTE RW - June $17.50p (-53 delta)
http://www.investmenthouse.com/ci/nte.html
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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stock recommendation
stock option
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