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stock ticker, stock recommendation
Begin part 3 of 3
THE PLAYS
Weekend play results:
AMMD: Still in the nice breakout test.
JILL: Volume is starting higher as JILL prepares to follow money flow higher.
MIMS: Still in the nice breakout test, holding over the 10 day EMA.
New plays for Tuesday:
Upside:
Play Date: 06/14/2004
ITRI (Itron--$22.97; -0.01; optionable): Scientific & technical instruments
http://biz.yahoo.com/p/i/itri.html
STATUS: Test breakout. ITRI broke out from a 10.5 month cup with handle base in early June, surging on outstanding volume. It is testing the breakout move, pulling back toward the 10 day EMA (22.38) and holding the breakout. Strong 15 to 5 accumulation (15 up price weeks on rising volume to 5 down price weeks on rising volume) shows money moving into the stock during the base and setting the foundation for the breakout and run higher. Money flow is surging higher ahead of price and relative strength broke out, a good corroboration of the breakout move. It may snug up more toward the 10 day before rebounding, but it showed a big volume spike Thursday. Just being patient to let it complete the test and start back up on rising volume.
Volume: 320.323K Avg Volume: 254.181K
BUY POINT: $23.63 Volume=400K Target=$28.35 Stop=$21.98
POSITION: IUP KX - Nov. $22.50c (59 delta) &/or Stock
http://www.investmenthouse.com/cd/itri.html
Play Date: 06/14/2004
MTMD (Microteck Medical--$5.06; -0.03; no options): Medical appliances
http://biz.yahoo.com/p/m/mtmd.html
STATUS: Double bottom w/handle. MTMD is forming the handle to a 17 week base sporting positive 4 to 3 accumulation. It has formed the current base over the 200 day SMA (4.50), an important institutional support level. Volume has been jumping well above average the past week. Just being patient, letting it set up and show us the breakout.
Volume: 361.157K Avg Volume: 170.545K
BUY POINT: $5.35 Volume=256K Target=$6.38 Stop=$4.98
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/mtmd.html
Play Date: 06/14/2004
VSR (Versar--$4.91; +0.14; no options): Waste management
http://biz.yahoo.com/p/v/vsr.html
STATUS: Breakout test. VSR basted out of a 12.5 month cup with handle base in early April. Excellent 13 to 2 accumulation in the base, showing money was moving in the whole time. It is making its second test of the 18 day EMA (4.75); stocks tend to make 4 to 5 such runs up the 10 and 18 day EMA. That gives VSR plenty more upside on this move. Volume was up sharply Monday as VSR jumped off the 18 day. Very strong money flow is still out ahead of price. Looks ready to continue the move.
Volume: 83.6K Avg Volume: 69.409K
BUY POINT: $5.15 Volume=100K Target=$6.25 Stop=$4.79
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/vsr.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
EBAY: Testing the breakout, holding support form the April top at 85.
LPNT: Nice test of the breakout at the 18 day EMA. Looks ready to continue the move.
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:
ASVI: Working through a 5.5 month base, coming off the lows that held above the 200 day SMA. Still needs to work on the base.
ABAX: Formed a good base in late 2003 through April 2004, but then sold hard. Managed to hold the 200 day SMA, and is making modestly higher lows, but is still below the 50 day EMA and needs more work.
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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