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stock ticker, stock recommendation
Begin part 3 of 3
THE PLAYS
Weekend play results:
ANF: Gapped higher but needs more volume.
CNTY: Still working laterally over the 10 day EMA in the breakout test.
DJO: Gapped lower on rising trade.
SEM: Doji that tapped at the 10 day EMA on the high on rising trade. Looks ready to roll over.
New plays for Tuesday:
Upside:
Play Date: 05/24/2004
DYAX (Dyax--$14.41; +0.41; optionable): Biotechnology
http://biz.yahoo.com/p/d/dyax.html
STATUS: Cup w/handle. Volume has surged the past two sessions as DYAX prepared to breakout from its 11 week base. The base formed roughly over the 50 day EMA (12.98), a solid sign of support at this key level. Money flow is outstanding, surging higher ahead of price. After testing the 50 day again in the handle it has moved over the 18 day EMA, held, and looks ready to break higher. Nice pattern and ready for a multiyear high on this move.
Volume: 383.084K Avg Volume: 254.59K
BUY POINT: $14.67 Volume=382K Target=$17.61 Stop=$13.64
POSITION: DQA KC - Nov. $15c (56 delta) &/or Stock
http://www.investmenthouse.com/cd/dyax.html
Play Date: 05/24/2004
RHB (Rehabcare Group--$23.95; +0.80; optionable): Hospitals
http://biz.yahoo.com/p/r/rhb.html
STATUS: Cup w/handle. Very nice two week handle forming to its 18 week base consolidating the November to January run. A late bloomer in the rally, but that is good in this case as other stocks are extended and this sector is finding money rotating from the other sectors. Excellent 5 to 1 accumulation in the pattern and very good price/volume action in the base: dried up on the lows, rallied as it moved up the right side of the base, and then backing off as it had moves laterally in the handle. Very good looking pattern.
Volume: 69.8K Avg Volume: 141.318K
BUY POINT: $24.33 Volume=212K Target=$27.98 Stop=$22.72
POSITION: RHB JF - Oct. $25c (48 delta) &/or Stock
http://www.investmenthouse.com/cd/rhb.html
Play Date: 05/24/2004
TWW (Terremark Worldwide--$0.98; +0.08; no options): Foreign telecom
http://biz.yahoo.com/p/t/tww.html
STATUS: Cup w/handle. TWW is working on the breakout move from an 11 month base sporting excellent 14 to 7 accumulation. Volume has started to surge the past two weeks and was shooting higher Monday. Money flow is huge, shooting higher ahead of the stock. Looking for it to continue the move and give is a big breakout. This is our initial target; if it is really moving, we will let it run. Low price, excellent daily volume.
Volume: 1.517M Avg Volume: 312.318K
BUY POINT: $1.06 Volume=468K Target=$1.39 Stop=$0.99
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/tww.html
Continuing upside plays:
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, BRCM, CECO, COH, DNA, EBAY, GTRC, LPNT, TGT
ALDN: Volume jumped above average as ALDN posted a solid gain. A strong volume move over 24 is a new entry point.
EBAY: Excellent break higher on stronger, above average volume.
LPNT: Looks to be ready for the breakout move.
Play Date: 05/24/2004
BRCM (Broadcom--$40.90; +0.15; optionable): Semiconductor integrated circuits
http://biz.yahoo.com/p/b/brcm.html
STATUS: Flat base. Working through an 18 week flat base sporting solid 7 to 3 accumulation. Strong volume Friday as BRCM moved back through the 50 day EMA (39.36). Backed off Monday as BRCM gapped higher but then fell back. Still a very solid pattern and willing to start positions on a further strong volume move and then again on a move over 43.50.
Volume: 9.706M Avg Volume: 8.358M
BUY POINT: $41.25 Volume=13M Target=$47.42 Stop=$38.88
POSITION: RCQ HH - Aug. $40c (59 delta) or RCQ KS - Nov. $42.50c &/or Stock
http://www.investmenthouse.com/cd/brcm.html
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:
ISSC: Tried the breakout last week but rolled back down on strong volume. Managed to hold the pattern, however, and we will see if it can reload.
Downside:
AGEN: Tanking down from the 10 day EMA on rising volume.
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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