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trade stock, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers Wednesday: ACXM; JAKK
Tuesday night play results:
ASE: Tried to make the move on strong trade but eased back. Still a solid pattern.
BOL: Slipped back down to the 10 day EMA.
SEMI: Rallied on higher volume but was all over the place so we held off.
SYNA: Tanked back to the 10 day EMA, but on lower trade and held the pattern.
New Plays:
Upside:
Play Date: 06/09/2004
ISRG (Intuitive Surgical--$17.85; +0.14; optionable): Medical appliances
http://biz.yahoo.com/p/i/isrg.html
STATUS: Cup w/handle. Volume is jumping as ISRG tugs at the breakout from its 13 week base. Accumulation in the pattern is an outstanding 6 to 1 (6 up price weeks on rising volume to 1 down price week on rising volume), indicating that as it based, money moved into the stock with quiet accumulation of shares. It has rallied back to form the right hand side of the pattern and volume has risen on the move. Again, tugging at the breakout. Strong money flow surging ahead of price, and it looks as if ISRG is ready to follow the money flow higher.
Volume: 283.996K Avg Volume: 167.227K
BUY POINT: $18.22 Volume=251K Target=$20.95 Stop=$17.21
POSITION: AXQ JW - Oct. $17.50c (61 delta) &/or Stock
http://www.investmenthouse.com/ci/isrg.html
Play Date: 06/09/2004
LGF (Lions Gate Entertainment--$6.69; +0.09; optionable): Movie production, theaters
http://biz.yahoo.com/p/l/lgf.html
STATUS: Ascending triangle. LGF has just made a higher low in its 14 week base, holding the 18 day EMA (6.47) and turning up toward the breakout point. It has been using the 50 day EMA (6.25) as it made higher and higher lows in its base, and this higher low at an upper support level often indicates it is ready to try the breakout move. Very strong 5 to 1 accumulation in the base has set up the breakout. Now all it needs to do is make the move.
Volume: 468K Avg Volume: 540.5K
BUY POINT: $6.98 Volume=700K Target=$8.42 Stop=$6.49
POSITION: LGF IA - Sept. $5c (97 delta) &/or Stock
http://www.investmenthouse.com/ci/lgf.html
Play Date: 06/09/2004
RSG (Republic Services--$28.67; -0.08; optionable): Waste Management
http://biz.yahoo.com/p/r/rsg.html
STATUS: Ascending triangle. A short but nice 7 week base that has formed over the 50 day EMA (28.11). This base has formed after RSG broke to an all-time high in late April. It needed a breather, and has formed this pattern to take it. Accumulation is a solid 2 to 0 in the short pattern. Volume has started to move higher the past two sessions to above average levels. Money flow is surging ahead of price as it works in the lateral and tight range. The rising volume, surging money flow, and tight range indicate it is ready to make the breakout.
Volume: 796.8K Avg Volume: 609.5K
BUY POINT: $29.25 Volume=914K Target=$33.64 Stop=$28.38
POSITION: RSG JE - Oct. $25c (97 delta) or RSG JF - Oct. $30c (32 delta) &/or Stock
http://www.investmenthouse.com/ci/rsg.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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