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us stock market, stock ticker
Begin part 3 of 3
THE PLAYS
Wednesday night play results:
EW: Tried to make the move on volume but eased back by the close. Still looks solid.
ONNN: Low volume but started down.
ABM: Nice volume break late in the session.
HOLL: Gapped higher but had no volume and fell back.
New plays for Friday:
Upside:
Play Date: 05/20/2004
SMF (Smart & Final--$13.60; -0.06; no options): Wholesale food
http://biz.yahoo.com/p/s/smf.html
STATUS: Cup w/handle. SMF is coming back on lower volume to test the breakout from an 11 week cup base. This is the handle it never had. Excellent 5 to 1 accumulation in the pattern (5 up price weeks on rising volume to 1 down price week on rising volume) shows money moving into the stock even as it consolidates a strong May to January run. It held the 50 day EMA (12.18) at the base lows, a sign of solid support at that key level. A huge volume breakout two weeks back, holding over the 10 day EMA (13.27). Excellent money flow even as it pulls back to form the handle.
Volume: 89.2K Avg Volume: 80.909K
BUY POINT: $14.05 Volume=121K Target=$16.85 Stop=$13.07
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/smf.html
Downside:
Play Date: 05/20/2004
GP (Georgia-Pacific--$33.48; +0.28; optionable): Lumber, wood production
http://biz.yahoo.com/p/g/gp.html
STATUS: Put. GP peaked in late April after a strong run in 2003. It got wilder in the later portions of its run as stocks often do and then rallied to 38, hitting the high on lower volume. It quickly fell to the 50 day EMA (33.62), tried to hold, but dumped below that level. It has rallied back to test that breach, moving laterally below that level the past week. it tried to blast higher Wednesday but reversed on high volume. Weak doji Thursday. Looking for it to fail here and fall on rising trade.
Volume: 1.166M Avg Volume: 1.683M
BUY POINT: $33.22 Volume=1.8M Target=$31.18 Stop=$34.11
POSITION: GP SG - July $35p (-69 delta)
http://www.investmenthouse.com/cd/gp.html
Continuing upside plays:
Play Date: 05/05/2004
SONE (S1 Corp.--$8.66; +0.17; optionable): Internet software and services
http://biz.yahoo.com/p/s/sone.html
STATUS: Cup w/handle. SONE has held up very well in the market dip, simply forming a low volume handle to its 17 week base. Continued solid money flow to go along with its strong 5 to 1 accumulation in the pattern. Looks ready for the breakout.
Volume: 244.218K Avg Volume: 466.772K
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
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
DNA: Holding at the 18 day EMA in a tight range on lower trade.
EBAY: Starting to show some life, moving back over the 18 day EMA on better volume. The stock won't quit.
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:
IMCL: After a big breakout and surge in late March it has come back to test the move, holding over the 18 day EMA.
OCLR: Exploded higher two weeks back, tested, and is ready to make the next move. Over 34.
Downside:
SEM: Dumped lower like a brick and has now rallied on low volume to fill the gap. Ready to roll 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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us stock market
stock ticker
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