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Begin part 3 of 3
THE PLAYS
Good movers Monday: ALDN; AMT; ATRM; ATVI; BRCM; EFJI; IMCL; MYK; PLMD; POSS; EMIS
Weekend play results:
ALDN: Excellent volume as it started the next move higher.
APCS: Volume remains strong and it looks ready to make a breakaway move.
ATVI: Gapped higher on strong trade.
DAB: Burst higher on strong trade but could not hold the move and gave it all back and more.
VRNT: Looks ready. Started higher but volume was only average. Want to see solid volume continue as it furthers this move.
New Plays:
Upside:
Play Date: 06/07/2004
AME (Ametek--$27.87; +0.72; optionable): Electronic instruments & electric motors
http://biz.yahoo.com/p/a/ame.html
STATUS: Cup w/handle. A post-split and a leader. AME split in March, rallied to 29, and then fell into the current 7 week base. Accumulation in the pattern is a solid 2 to 0 (2 up price weeks on rising volume to 0 down price weeks on rising volume), showing us that money has moved into the stock during the pattern. It also formed over the 50 day EMA (26.32), a level that should act as support for a strong stock. It is ready to make a breakout to a new all-time high here, following surging money flow higher.
Volume: 157.1K Avg Volume: 225.818K
BUY POINT: $28.05 Volume=300K Target=$32.25 Stop=$26.62
POSITION: AME IY - Sept. $27.50c (61 delta) &/or Stock
http://www.investmenthouse.com/ci/ame.html
Play Date: 06/07/2004
KRON (Kronos--$41.91; +0.98; optionable): Business equipment
http://biz.yahoo.com/p/k/kron.html
STATUS: Cup w/handle. Another post split (split in November), KRON is working toward the breakout from a 21 week base sporting strong 7 to 4 accumulation. That shows that money moving into the stock during the base as institutions accumulate shares quietly. Money flow is strong, moving higher as the stock eased back to test toward the 18 day EMA (40.19) on the lows. Monday it tapped down toward that level and started to rebound on rising though still below average volume. With the strong accumulation and surging money flow we are looking for KRON to provide the breakout to a new all-time high.
Volume: 205.837K Avg Volume: 248.59K
BUY POINT: $42.64 Volume=350K Target=$49 Stop=$39.98
POSITION: KUE JH - Oct. $40c (67 delta) &/or Stock
http://www.investmenthouse.com/ci/kron.html
Play Date: 06/07/2004
RSAS (RSA Security--$18.40; +0.63; optionable): Security software
http://biz.yahoo.com/p/r/rsas.html
STATUS: Cup w/handle. Volume jumped back above average Monday as RSAS moved off of the 18 day EMA (17.64) in the handle to its 9 week base. Solid 3 to 1 accumulation in the pattern as money continued to move into the stock even as it pulled back. A market leader, we are looking to move in as it continues its move through the breakout on strong volume.
Volume: 978.893K Avg Volume: 768.863K
BUY POINT: $18.63 Volume=1.2M Target=$22.35 Stop=$17.53
POSITION: QSD JW - Oct. $17.50c (65 delta) &/or Stock
http://www.investmenthouse.com/ci/rsas.html
Play Date: 06/07/2004
SVM (Servicemaster--$12.45; +0.17; optionable): Residential & commercial cleaning, etc.
http://biz.yahoo.com/p/s/svm.html
STATUS: Cup w/handle. SVM tried a breakout last week on some solid volume, but slid back to end the week. It barely came back, holding the 10 day EMA (12.16) as it made the low volume move. It held, and Monday was rising again on stronger though below average trade. Nice 23 week base with 4 to 2 accumulation and strong money flow. Relative strength broke out last week along with the stock, a good corroboration of the move. Need to see more volume as it makes the move, but a solid pattern and it looks ready.
Volume: 347.2K Avg Volume: 533.772K
BUY POINT: $12.62 Volume=530K Target=$15 Stop=$11.98
POSITION: SVM JV - Oct. $12.50c (52 delta) &/or Stock
http://www.investmenthouse.com/ci/svm.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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