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Begin part 3 of 3

THE PLAYS

Wednesday night play results:
KNSY: Another nice surge on tremendous volume.
VTA: Shot higher on volume, but then could not hold the move. Still solid.
QQQ: Tested lower to the 50 day EMA. Now we see if it can rebound.

New plays for Friday:

Upside:

Play Date: 06/03/2004
ANIK (Anika Therapeutics--$13.18; -0.67; no options): Biotechnology
http://biz.yahoo.com/p/a/anik.html
STATUS: Breakout test. ANIK exploded out of a 21 week base in mid-May, rallying to 14 on the high. Accumulation in the base is strong at 5 to 3 (5 up price weeks on rising volume to 3 down price weeks on rising volume). After that strong surge it needed this test, and the breakout test is one of our favorite entry points: if it holds and rebounds on rising volume it 'proves up' the breakout. Tapped the 10 day EMA (12.66) on the low and rebounded to cut some of the losses. May snug up more to the 10 day before rebounding, but we have been waiting for the test of this breakout move.
Volume: 171.581K Avg Volume: 103.318K
BUY POINT: $13.45 Volume=155K Target=$16.45 Stop=$12.51
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/anik.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 option chain)
http://www.investmenthouse.com/cd/iris.html

Play Date: 06/03/2004
MEOH (Methanex--$12.27; -0.23; no options): Specialty chemicals
http://biz.yahoo.com/p/m/meoh.html
STATUS: Cup w/handle. After a solid surge higher off of the bottom of its 19 week base that formed roughly over the 50 day EMA (11.46), MEOH is easing back on low, below average volume to form a handle to the base. It may take another 2 to 3 sessions to form the handle, testing the 10 day EMA (11.95) on the low. Outstanding 6 to 1 accumulation in the pattern. Relative strength broke out on the move, a good corroboration of the breakout move. Looking for the pullback and then a break higher on solid trade.
Volume: 192.494K Avg Volume: 256.5K
BUY POINT: $12.62 Volume=379K Target=$15.25 Stop=$11.82
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/meoh.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, BRCM, CECO, COH, DNA, EBAY, GTRC, LPNT, TGT

BRCM: Up solidly after hours on the Intel update. It is in the process of making a higher low over the 18 day EMA (40.71). A higher low in a trading range often indicates a breakout coming.

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:

SINA: Strong surge off the May low near 25, clearing the 200 day SMA early this week on strong trade. It is coming back to test that move, holding the 200 day Thursday on lower volume. Want to see it hold here and rebound on strong trade.

CATS: Moving in a range between 7.50 to 9.50, now back down at the lows in the range, holding over the 200 day SMA. Might make a good trade here if it can get more volume on the way back up.

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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