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stock ticker, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers Wednesday: AME; ANIK; BRCM; IPIX; MACE; MEOH
Tuesday night play results:
CPRT: Continues the lateral move on lower, below average volume.
IPIX: Nice volume as it starts the next leg higher.
MPS: Started higher but no volume.
New plays for Thursday:
Upside:
Play Date: 06/16/2004
BEAV (BE Aerospace--$6.92; +0.22; optionable): Aerospace, defense
http://biz.yahoo.com/p/b/beav.html
STATUS: Cup w/handle. Volume was explosive Wednesday as BEAV attempted a breakout from its 16 week base sporting excellent 7 to 2 accumulation (7 up price weeks on rising volume to 2 down price weeks on rising volume). The accumulation shows us that money has been moving into the stock as it works through the base. Volume was very quiet at the bottom of the base but has started to jump the past two weeks. Strong action and money flow is solid. Looking for a further breakout move on solid trade.
Volume: 997.823K Avg Volume: 171.863K
BUY POINT: $7.06 Volume=300K Target=$8.55 Stop=$6.57
POSITION: BQV AA - Oct. $5c (86 delta) &/or Stock
http://www.investmenthouse.com/cd/beav.html
Play Date: 06/16/2004
PVN (Providian Financial--$14.49; +0.50; optionable): Finance: credit services
http://biz.yahoo.com/p/p/pvn.html
STATUS: Breakout test. PVN broke out from a 15 week double bottom base in late May and rallied to 15. It is making the first test of the move, pulling back to the 18 day EMA (13.81) on the test. Volume was lower and below average as it made the test. Wednesday volume surged as PVN jumped off the test. Ready to continue the breakout move.
Volume: 4.934M Avg Volume: 2.647M
BUY POINT: $14.66 Volume=4M Target=$17.62 Stop=$13.78
POSITION: PVN LC - Dec. $15c (51 delta) &/or Stock
http://www.investmenthouse.com/cd/pvn.html
Play Date: 06/16/2004
SINA (Sina.com--$39.60; +1.24; optionable): Chinese internet
http://biz.yahoo.com/p/s/sina.html
STATUS: Reverse head and shoulders. A big mover in 2003, SINA peaked in January and has fallen into the current base. A deep dip, but after such a run it needed it. It is now working on the right shoulder to a 14 week base. It has come back to hold the 200 day SMA (37.80) in the current pullback and is now bouncing on increasing volume off of that level. It is still an aggressive play, but accumulation has swung positive and with it showing good support at the 200 day SMA, the risk/reward position is solid.
Volume: 4.639M Avg Volume: 4.27M
BUY POINT: $40.62 Volume=6.4M Target=$47.55 Stop=$37.78
POSITION: NOQ IH - Sept. $40c (54 delta) &/or Stock
http://www.investmenthouse.com/cd/sina.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
LPNT: Volume is edging higher as LPNT moves toward the next buy point.
BRCM: Volume was up as BRCM started the next move higher. Looks ready for more on a move over 44.
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.
Downside:
SUNH: A nasty breakdown below the 200 day SMA in early May. SUNH has fought back, taking the last 4 weeks to recover the 200 day, but failing at that point. Volume started to run higher the past two sessions as SUNH slides back from the 200 day, unable to retake that resistance level.
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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