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trade stock, stock recommendation
Begin part 3 of 3
THE PLAYS
Weekend play results:
GSLI: Still in a very nice pattern.
ORB: Took a breather after that big Thursday move.
RSTO: Eased higher but volume was not there Monday.
TDS: Still a very nice 10 day EMA test.
VCLK: Still working laterally in the handle.
New Plays:
Upside:
Play Date: 06/21/2004
BYD (Boyd Gaming--$25; +0.32; optionable): Resorts and casinos
http://biz.yahoo.com/p/b/byd.html
STATUS: Cup w/handle. Volume has been edging higher and above average the past three sessions as BYD holds the 10 day EMA (24.61) in the handle to its 11 week base sporting solid 3 to 1 accumulation (3 up price sessions on rising volume to 1 down price session on rising volume). Solid base formed right at the 50 day EMA (23.51) as BYD sets for the next move to an all-time high. Strong money flow to match the accumulation; money has been moving in as the stock bases.
Volume: 417.3K Avg Volume: 311.272K
BUY POINT: $25.94 Volume=467K Target=$30 Stop=$24.15
POSITION: BYD IE - Sept. $25c (54 delta) &/or Stock
http://www.investmenthouse.com/ci/byd.html
Play Date: 06/21/2004
EENC (Enterra Energy--$13.67; +0.27; optionable): Independent oil and gas
http://biz.yahoo.com/p/e/eenc.html
STATUS: Cup w/handle. Volume was up Monday as EENC moved off the 10 day EMA (13.03) that has acted as support in the handle to its 11 week base. Strong 3 to 0 accumulation in the pattern shows money moving into the stock as it takes a breather after a solid 6 month run. It looks ready to resume the move as it started to move over the handle high Monday on that stronger volume. Want to see more trade as it continues the move.
Volume: 213.875K Avg Volume: 199.545K
BUY POINT: $13.85 Volume=299K Target=$16 Stop=$12.88
POSITION: EMU LV - Dec. $12.50c (70 delta) &/or Stock
http://www.investmenthouse.com/ci/eenc.html
Play Date: 06/21/2004
HIBB (Hibbett Sporting Good--$25.71; -0.20; no options): Sporting goods stores
http://biz.yahoo.com/p/h/hibb.html
STATUS: Breakout test. DKS said it would acquire Galyan's after hours, and that does not seem to be bad for HIBB. It is currently making a nice orderly test of the early January breakout from an 8 week base. Solid 2 to 0 accumulation in the base to go along with strong money flow. The test of the breakout is one of our favorite entry points as it shows the breakout was solid. Looking for HIBB to jump back up off of the 18 day EMA (25.77) on strong volume to signal the breakout test is over and that the money is moving back into it.
Volume: 118.949K Avg Volume: 272.045K
BUY POINT: $26.78 Volume=408K Target=$31 Stop=$25.54
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/hibb.html
Play Date: 06/21/2004
HOLX (Hologic--$21.12; -0.18; optionable): Medical appliances
http://biz.yahoo.com/p/h/holx.html
STATUS: Cup w/handle. Volume surged Friday as HOLX held tight on the 18 day EMA (20.98), still working on a very nice handle to its 9 week base. The handle has formed this month over the 18 day, moving in a tight range on low volume just as it should. Accumulation in the base is a solid 2 to 0 and money flow is surging higher ahead of price. Everything is in place and now it just needs to show us the return of that volume on the breakout move.
Volume: 84.774K Avg Volume: 143.318K
BUY POINT: $21.69 Volume=215K Target=$25 Stop=$20.78
POSITION: QHX ID - Sept. $20c (68 delta) &/or Stock
http://www.investmenthouse.com/ci/holx.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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trade stock
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