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stock ticker, stock recommendation
Begin part 3 of 3
THE PLAYS
Tuesday night play results:
EGLS: Solid volume but gave back most of the move.
RHAT: Still looks solid.
SMRT: Still working in the handle to the short, nice base.
New plays for Thursday:
Upside:
Play Date: 05/19/2004
EW (Edwards Life Sciences--$35.32; +0.63; optionable): Medical instruments
http://biz.yahoo.com/p/e/ew.html
STATUS: Cup w/handle. A very nice 15 week base has formed, using the 200 day SMA (30.65) on the lows. It has moved laterally the past 4 weeks, holding mostly over the 18 day EMA (34.51) as it moves laterally, testing lower to shake out the last sellers. Solid 5 to 3 accumulation in the base (5 up price weeks on rising volume to 3 down price weeks on rising volume). Money has moved into the stock during the base, and relative strength is already breaking out, a very bullish sign. Just needs big volume on the move higher.
Volume: 414.8K Avg Volume: 481.227K
BUY POINT: $35.77 Volume=722K Target=$41 Stop=$34.28
POSITION: EW HG - Aug. $35c (57 delta) &/or Stock
http://www.investmenthouse.com/ci/ew.html
Downside:
Play Date: 05/19/2004
ONNN (On Semiconductor--$5.15; +0.02; optionable): Semiconductors
http://biz.yahoo.com/p/o/onnn.html
STATUS: Put. Peaked in March and made a lower high later in that month right before it broke through the 50 day EMA (6.34). It has since slid down below the 10 and 18 day EMA (5.31, 5.56) in a steady downtrend. It make a low just below 5 to end April and bounced up toward the 200 day SMA (6). It failed dropped back to the April closing low. It held and tried another bounce. Wednesday it hit the 10 day EMA (5.31) and fall back on rising, above average volume. Money flow is very weak and it remains under some distribution. Looking for it to turn down here.
Volume: 4.77M Avg Volume: 3.911M
BUY POINT: $5.07 Volume=5M Target=$4.05 Stop=$5.38
POSITION: OKU SA - July $5c (-40 delta)
http://www.investmenthouse.com/cd/onnn.html
Continuing upside plays:
Play Date: 05/17/2004
ABM (ABM Industries--$18.67; +0.27; optionable): Facilities services contractor
http://biz.yahoo.com/p/a/abm.html
STATUS: Flat base. Volume was up Wednesday as ABM moved toward the breakout from its 17 week base. Solid 5 to 3 accumulation in the pattern (5 up price weeks on rising volume to 3 down price weeks on rising volume). Money flow is excellent and volume continues to move higher on upside sessions. As noted Monday, this is actually the handle to a 2 year base. Relative strength continues its breakout ahead of price, and money flow is rallying as well.
Volume: 130.5K Avg Volume: 118.045K
BUY POINT: $18.96 Volume=185K Target=$21.85 Stop=$17.92
POSITION: ABM JW - Oct. $17.50c (74 delta) &/or Stock
http://www.investmenthouse.com/cd/abm.html
Play Date: 05/15/2004
HOLL (Hollywood.com--$3.75; +0.12; no options): Entertainment industry ticketing, news, data.
http://biz.yahoo.com/p/h/holl.html
STATUS: Test 50 day EMA. Broke out in December and ran up the 10 and 18 day EMA. It surged higher off the 18 day in April and then rolled over. It has come back to the 50 day EMA (3.56) on mostly lower volume. Wednesday it jumped off that level but volume remained very low. Looks good, but it has to show us the strong volume.
Volume: 30.829K Avg Volume: 120.409K
BUY POINT: $3.82 Volume=175K Target=$4.81 Stop=$3.55
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/holl.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.
ALDN, CECO, COH, DNA, EBAY, GTRC, LPNT, TGT
COH : Struggling at the 50 day EMA, trying to move back through it but showing a big doji Tuesday on low volume. Critical level here between 40 and 42.
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.
Downside:
ACCL: Tapped the 10 day EMA on the gap higher but then rolled over on rising though still below average volume.
SUNH: Has rallied back up to the 10 day EMA after a massive dump through the 200 day SMA a week back. Volume surged as it stalled at the 10 day Wednesday.
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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stock ticker
stock recommendation
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