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stock recommendation, stock option
Begin part 3 of 3
THE PLAYS
Wednesday night play results:
CETV: Gapped lower but rebounded on strong volume for a gain. Looks ready.
COSI: Still working on that nice handle.
PLMD: Took a low volume day of rest after that nice Wednesday surge. Still solid.
VTA: Jumped higher on strong volume but reversed and gave back all of the move.
New Plays:
Upside:
Play Date: 06/03/2004
CWTR (Coldwater Creek--$26.34; +0.93; no options): Catalog and mail order
http://biz.yahoo.com/p/c/cwtr.html
STATUS: Breakout test. Retail is still hot though that is only recently being rediscovered by analysts that gave it up for dead three months back. CWTR blasted out of a short 7 week base in late May and rallied up near 27. It took a breather after the breakout, moving laterally and then down toward the 10 day EMA (24.97) to test the move. It gaped lower Thursday on the same store sales results and then rebounded for a nice gain on an excellent volume surge. Money flow is screaming higher and relative strength is getting ready to breakout again, a further corroboration of any move. Looking to move in on a further run higher on continued solid trade.
Volume: 502.804K Avg Volume: 164.227K
BUY POINT: $26.75 Volume=300K Target=$32 Stop=$24.88
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/cwtr.html
Play Date: 06/03/2004
IRIS (Iris Intl.--$9.18; +0.69; no options): Scientific and technical instruments
http://biz.yahoo.com/p/i/iris.html
STATUS: Breakout test. IRIS gapped out of its long, 5 month basically flat base that formed along the 50 day EMA (7.43). Volume surged on the breakout and then IRIS came back to immediately test the move, filling part of the gap intraday. After a lateral move for a week, volume poured back into the stock Thursday, vaulting it out of the lateral range used to test the breakout. Excellent accumulation and money flow. Relative strength broke out on the Thursday move, and we are looking to move in as IRIS makes a further move higher as it continues its breakout run.
Volume: 777.221K Avg Volume: 91.136K
BUY POINT: $9.25 Volume=200K Target=$11.12 Stop=$8.58
POSITION: - Stock (no optoin chain)
http://www.investmenthouse.com/ci/iris.html
Play Date: 06/03/2004
NMGA (Neiman Marcus Group--$52.28; +0.80; optionable): High end department stores
http://biz.yahoo.com/p/n/nmga.html
STATUS: Test 50 day EMA. High end retail continues to perform. NMGA peaked in March and slid into the current 13 week base. It bottomed at 48 and bounced back over the 50 day EMA (51.22). After a weeklong lateral move over the 50 day it looks ready to start a run to form the right side of its cup. We are interested in starting a position on a further volume move (volume exploded Thursday as NMGA started up off the 50 day). Surging money flow, and we are looking to move in as it resumes its move higher. Good risk/reward position here.
Volume: 486K Avg Volume: 219.454K
BUY POINT: $53.06 Volume=330K Target=$59.55 Stop=$50.35
POSITION: NMG JJ - Oct. $50c (73 delta) &/or Stock
http://www.investmenthouse.com/ci/nmga.html
Play Date: 06/03/2004
POSS (Possis Medical--$28.00; -0.75; optionable): Medical appliances
http://biz.yahoo.com/p/p/poss.html
STATUS: Cup w/handle. Forming the handle the past two weeks to its 9 week base sporting solid 3 to 1 accumulation (3 up price weeks on rising volume to 1 down price week on rising volume). Like the base and like where it is forming as a breakout will send POSS to an all time high with no overhead resistance. Volume really jumped as it rallied in mid-May and has now backed off to miniscule levels. Poss-ibly a very good play.
Volume: 76.693K Avg Volume: 191.909K
BUY POINT: $29.58 Volume=288K Target=$34 Stop=$27.51
POSITION: UPQ JF - Oct. $30c (40 delta) &/or Stock
http://www.investmenthouse.com/ci/poss.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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