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stock recommendation, stock option
Begin part 3 of 3
THE PLAYS
Monday night play results:
DF: Up off the 18 day EMA but not much volume yet.
HLEX: Nice volume move off the 18 day EMA as it continues the breakout.
SMTS: Gapped higher but sold back.
VSR: Still solid as it holds the 18 day EMA on low volume.
New Plays:
Upside:
Play Date: 06/15/2004
ASPM (Aspect Medical--$18.88; +0.83; no options): Medical appliances
http://biz.yahoo.com/p/a/aspm.html
STATUS: Breakout test. Surged on volume last week on a breakout from its 17 week double bottom with handle base sporting excellent 8 to 2 accumulation (8 up price weeks on rising volume to 2 down price weeks on rising volume). The accumulation shows buyers moving into the stock during the base. Money flow is surging ahead of price, and relative strength broke out on the move, a very good corroboration of the breakout along with the volume surge Tuesday as ASPM started back up after dipping Monday.
Volume: 337.505K Avg Volume: 66.5K
BUY POINT: $19.12 Volume=300K Target=$22.95 Stop=$17.78
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/aspm.html
Play Date: 06/15/2004
CPRT (Copart--$24.51; +0.92; optionable): Wholesale auto parts
http://biz.yahoo.com/p/c/cprt.html
STATUS: Flying plateau. A long 2.5 year base is finishing up. Indeed, CPRT broke out from the handle in late May, surging on strong trade. It has spent this month moving laterally over the 10 day EMA (23.70), showing some big volume spikes on up sessions. We call those 'get ready' spikes. In addition, when the 10 day moves up to the stock in these lateral patterns that often triggers the next move. Volume was surging Tuesday and CPRT rallied but gave back much of the move. Surging money flow and strong relative strength. Looks strong.
Volume: 1.97M Avg Volume: 728.136K
BUY POINT: $25.55 Volume=1.1M Target=$30 Stop=$23.76
POSITION: KQJ KE - Nov. $25c (54 delta) &/or Stock
http://www.investmenthouse.com/ci/cprt.html
Play Date: 06/15/2004
FILE (Filenet--$29.38; +0.90; optionable): Business software
http://biz.yahoo.com/p/f/file.html
STATUS: Ascending triangle. Very nice 20 week pattern making higher lows over the 200 day SMA (26.33) below a constant top at 30. Accumulation in the base is an outstanding 6 to 1. Making a higher low over the 10 day EMA (28.48); that higher low in this type of pattern often signals a breakout ahead.
Volume: 322.204K Avg Volume: 385.681K
BUY POINT: $29.75 Volume=579K Target=$34.65 Stop=$27.88
POSITION: ILQ JF - Oct. $30c (50 delta) &/or Stock
http://www.investmenthouse.com/ci/file.html
Play Date: 06/15/2004
IPIX (Ipix--$13.61; +0.23; no options): Security & surveillance products, marketing
http://biz.yahoo.com/p/i/ipix.html
STATUS: Cup. Exploded higher in April, running over 25 before falling back to the 50 day EMA (8.66). It then worked laterally for 7 weeks and has now rallied to form the right side of the base on surging volume. May try to form a handle here, but very strong and we want to be ready to move in on a volume break higher. Excellent 5 to 0 accumulation in the base and screaming money flow.
Volume: 15.101M Avg Volume: 13.328M
BUY POINT: $14.44 Volume=20M Target=$17.35 Stop=$13.43
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/ipix.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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