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us stock market, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers Thursday: BID; DF; HYSL; SYNA; ZQK
Wednesday night play results:
BEAV: Another good volume session but backed well off high. Still looks solid.
HYSL: Nice break higher on continued solid volume.
ZGEN: Gapped higher but volume was lower and it was all over the map.
New Plays:
Upside:
Play Date: 06/17/2004
MBT (Mobile Telesys--$125.50; +9.50; optionable): Russian wireless communications
http://biz.yahoo.com/p/m/mbt.html
STATUS: Cup. Working through an 11 week base that formed roughly over the 50 day EMA (116.39). Volume fell well below average the past 5 weeks as it works through the base. This stock was a big winner in 2003 and needed a breather. It exploded higher Thursday on huge trade. We are looking to grab onto some of that momentum and ride it back up to the prior high near 140 as an initial target. Using options given the price. This gets us into a potentially strong run and with good leverage.
Volume: 731.9K Avg Volume: 354.772K
BUY POINT: $126.22 Volume=500K Target=$140 Stop=$121.55
POSITION: MBT IE - Sept. $125c (55 delta)
http://www.investmenthouse.com/ci/mbt.html
Play Date: 06/17/2004
REV (Revlon--$3.43; +0.11; no options): Makeup, etc.
http://biz.yahoo.com/p/r/rev.html
STATUS: Double bottom. Volume has started to climb the past week as REV readies for a breakout from its 15 week base sporting excellent 7 to 2 accumulation (7 up price weeks on rising volume to 2 down price weeks on rising volume). That shows us money moving into the stock during the base, setting a solid foundation for the breakout to come and run thereafter. Money flow is surging higher ahead of price, and we are looking for the price to follow. Good upside volume increases show it is getting ready to make the move.
Volume: 888.7K Avg Volume: 1.574M
BUY POINT: $3.58 Volume=2.4M Target=$4.48 Stop=$3.33
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/rev.html
Play Date: 06/17/2004
RVI (Retail Ventures--$9.00; -0.02; no options): Retail, department stores
http://biz.yahoo.com/p/r/rvi.html
STATUS: Breakout test. RVI blasted out of a short but nice 9 week cup base Monday, as it continued the strong volume surge that started two weeks back. After a run to 9.50 on the breakout move, it has come back to tap the 10 day EMA (8.52) on the Wednesday and Thursday low, and then leapt back up Thursday on tremendous trade. Strong 3 to 0 accumulation in the pattern set up the move. The first test of a breakout is one of our favorite entry points. Ready to move in on a further move higher on decent volume.
Volume: 312.1K Avg Volume: 89.863K
BUY POINT: $9.11 Volume=250K Target=$11 Stop=$8.47
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/rvi.html
Play Date: 06/17/2004
UBET (Youbet.com--$5.14; +0.04; no options): Online sports betting and entertainment
http://biz.yahoo.com/p/u/ubet.html
STATUS: Cup w/handle. Despite all of the market gyrations, UBET has calmly gone about forming up the current 10 week base, holding over the 50 day EMA (4.69) as it does. That is a key support level and shows money stepping in. Accumulation is 3 to 0, another sign of good support for the stock and money moving into it while it takes a breather from the breakout from its first base on this move, an 8 month cup with handle that launched it from 3.50 to 6. It has spent the past two weeks moving laterally over the 18 day EMA (4.93), minding its own business as money flow continues to run higher ahead of price. It looks as if it is about ready to turn higher and follow the money.
Volume: 156.8K Avg Volume: 408.863K
BUY POINT: $5.62 Volume=600K Target=$6.88 Stop=$5.23
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/ubet.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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us stock market
stock recommendation
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