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stock trading site, stock trading information
Begin part 3 of 3
THE PLAYS:
Good movers Thursday: ABM; BCR; NXTP; AET; DHR
Wednesday night play results:
AET: Started down on rising volume after the 18 day EMA test.
CYTC: Doji on rising volume below the 18 day EMA.
ACXM: Held steady on lower volume. Taking a breather.
EW: Tried to make the move on volume but eased back by the close. Still looks solid.
New Plays:
Downside:
Play Date: 05/20/2004
IP (International Paper--$40.27; +0.02; optionable): Paper
http://biz.yahoo.com/p/i/ip.html
STATUS: Put. Double topped to start the year in January and February and tanked to the 200 day SMA (40.89). It tried the bounce move, managing to regain half the loss but then rolling back down and breaking the 200 day in late April. It plunged lower after the breach as the big money unloaded a stock they did not want to support anymore. It has made a low volume rebound to test that level, and has been struggling for the last week. Looks ready to roll back over.
Volume: 2.094M Avg Volume: 2.866M
BUY POINT: $39.95 Volume=2.8M Target=$37.92 Stop=$40.94
POSITION: IP SH - July $40p (-40 delta)
http://www.investmenthouse.com/ci/ip.html
Play Date: 05/20/2004
NTT (Nippon Telecom--$23.80; +0.18; optionable): Foreign telecom services
http://biz.yahoo.com/p/n/ntt.html
STATUS: Put. Peaked in a climactic run in early April and reversed on high volume. It plunged to the 200 day SMA (23.91) and then gapped through that level. The past two weeks it has made a low volume rebound to test the 200 day breakdown. Showed a doji Thursday below the 200 day on lower volume. Looks ready to roll back over at this resistance as no volume has moved in on the bounce.
Volume: 88.9K Avg Volume: 247.318K
BUY POINT: $23.58 Volume=245K Target=$21.55 Stop=$24.36
POSITION: NTT UE - Sept. $25p (-63 delta)
http://www.investmenthouse.com/ci/ntt.html
Upside:
Play Date: 05/20/2004
PLT (Plantronics--$37.96; +0.21; optionable): Telecom products (headsets)
http://biz.yahoo.com/p/p/plt.html
STATUS: Double bottom w/handle. Nice 17 week base has formed after a straight shot run higher in 2003. Excellent 5 to 2 accumulation in the base (5 up price weeks on rising volume to 2 down price weeks on rising volume) shows money continued to move into the stock even as it consolidated the 2003 move. Currently in a very nice, tight 3 week handle forming over the 50 day EMA (36.99). Money flow is surging ahead of price and we are looking for the stock to follow it higher.
Volume: 271.2K Avg Volume: 462.909K
BUY POINT: $39.05 Volume=694K Target=$45 Stop=$36.88
POSITION: PLT HH - Aug. $40c (38 delta) or PLT HG - Aug. $35c (79 delta) &/or Stock
http://www.investmenthouse.com/ci/plt.html
Play Date: 05/20/2004
ZILA (Zila--$4.99; +0.17; no options): Drug products
http://biz.yahoo.com/p/z/zila.html
STATUS: Flat/trading range. ZILA rallied well in 2003, needed a breather, and is taking it now with the current 15 week trading range between 4 and 5.25. Accumulation in the range is an outstanding 7 to 2; money has been moving into the stock even as it works through its consolidation. It made a higher low at 4.50 this past week. When you are looking at a stock in a trading range, one of the things it does before it makes the breakout is make that higher low. Money flow is surging higher ahead of price and relative strength is ready for the breakout. Looks very strong here.
Volume: 131.74K Avg Volume: 189.954K
BUY POINT: $5.08 Volume=285K Target=$6.12 Stop=$4.72
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/zila.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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