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stock ticker, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers Tuesday: AME; ANIC; JILL; OLGC; SWW; TUNE; ULGX; ZEUS
Monday night play results:
ITRI: Started surging but no volume on the move and it gave it back.
MTMD: Continued to work on its handle.
VSR: Still working in the handle as volume slipped.
New plays for Wednesday:
Upside:
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/cd/cprt.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/cd/ipix.html
Play Date: 06/15/2004
MPS (Modis Professional Svc.--$11.77; +0.65; no options): Staffing & outsourcing
http://biz.yahoo.com/p/m/mps.html
STATUS: Reverse head and shoulders. Volume surged Tuesday as MPS jumped off the 18 day EMA (11.18), starting the breakout from its 10 week base. Outstanding 5 to 0 accumulation in the pattern (5 up price weeks on rising volume to 0 down price weeks on rising volume) has set a good foundation and shows money still moving into the stock even as it bases. Relative strength is making the breakout as well, a good confirmation of the strength of the move. Just looking for a continued move on more solid volume.
Volume: 729.8K Avg Volume: 454.409K
BUY POINT: $12.04 Volume=682K Target=$14.45 Stop=$11.21
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/mps.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
ALDN: Perhaps the 50 day EMA test is over.
BRCM: Looks ready to continue the move after making a higher low over the 18 day EMA.
GTRC: Explosive move higher yet again as GTRC continues its impressive run.
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:
GIVN: After a strong July 2003 to March run GIVN is working through a 10 week base and appears to be moving laterally along the bottom of the pattern just below the 50 day EMA. Needs to continue basing, holding over 30 as it does and then rallying toward 37.50 and the breakout. Not ready yet as it is struggling below the 50 day EMA right now, still working on its pattern.
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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