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stock recommendation, stock investment information
Begin part 3 of 3
THE PLAYS
Good moves Monday: ISRG; MBT; STSI; TRA
Weekend play results:
COT: Low volume 18 day EMA test. Looks ready.
ULTI: Bounced to 18 day EMA, but low volume.
VAR: Tapped 18 day on high and faded back, needs to fall through 32.
AGYS: Rallied well intraday but not enough volume.
JUPM: Tapped the 10 day EMA on the low on continued low volume.
WBSN: Shot higher on volume but could not hold all of the move.
New Plays:
Downside:
Play Date: 08/16/2004
COG (Cabot Oil & Gas--$39.28; -1.15; optionable): Independent oil and gas
http://biz.yahoo.com/p/c/cog.html
STATUS: Put. Even as oil moves higher, COG is struggling. Good breakout in April and run higher into the start of August, but then tanked below the 50 day EMA (40.51) on strong trade. Moved laterally for a week, trying to recover, but then buckled Monday on strong volume. Money flow is diving lower and we are looking for COG to follow it.
Volume: 597.4K Avg Volume: 254.363K
BUY POINT: $39.15 Volume=300K Target=$37.05 Stop=$39.45
POSITION: COG VH - Oct. $40p (-59 delta)
http://www.investmenthouse.com/ci/cog.html
Play Date: 08/16/2004
TLCV (TLC Vision--$8.86; -0.20; optionable): Specialized health services
http://biz.yahoo.com/p/t/tlcv.html
STATUS: Put. Broke below the 200 day SMA (9.34) to start the month as volume shot higher, the highest sustained volume since March. It has rallied back from the drop below 8, but after trying to move over the 200 day Friday where it fell back from that level, it started back down Monday. Looking for that distribution to take it lower.
Volume: 582.282K Avg Volume: 486.954K
BUY POINT: $8.75 Volume=600K Target=$7.47 Stop=$9.04
POSITION: TKU VB - Oct. $10p (-71 delta)
http://www.investmenthouse.com/ci/tlcv.html
Upside:
Play Date: 08/16/2004
CLF (Cleveland-Cliffs--$64.85; +1.04; optionable): Steel and iron
http://biz.yahoo.com/p/c/clf.html
STATUS: Cup w/handle. Nice 23 week base has formed with CLF currently moving laterally in a two week handle over the 10 day EMA (63.89). Excellent 8 to 3 accumulation weeks in the base showing net buyers during the formation of the pattern. It held the 200 day SMA (51.78) on the pattern lows, another indication the big money was supporting it. Solid money flow and relative strength on the verge of a breakout, a good corroboration of any move. Volume started back up Monday as CLF edged off the 10 day. Can chew up real estate in a hurry.
Volume: 272.4K Avg Volume: 302.954K
BUY POINT: $66.14 Volume=454K Target=$74 Stop=$63.75
POSITION: CLF JM - Oct. $65c (53 delta) &/or Stock
http://www.investmenthouse.com/ci/clf.html
Play Date: 08/16/2004
OCAS (Ohio Casualty--$19.82; +0.34; optionable): Property and casualty
http://biz.yahoo.com/p/o/ocas.html
STATUS: Double bottom w/handle. Now that those two storms have passed, the insurance stocks are able to breathe again. OCAS continues its nice 22 week base sporting solid 4 to 3 accumulation and showing great price/volume action during the base: low at the bottom and surging as it moves toward completion. Excellent volume Friday and then again Monday as it moved off of the 50 day EMA (19.27) that has acted as support for the handle.
Volume: 429.857K Avg Volume: 238.772K
BUY POINT: $20.02 Volume=358K Target=$23.05 Stop=$19.78
POSITION: OHQ KD - Nov. $20c (49 delta) &/or Stock
http://www.investmenthouse.com/ci/ocas.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 investment information
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