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stock recommendation, stock option
Begin part 3 of 3
THE PLAYS
Good moves Tuesday: AEOS; AET; WBSN; NFX
Tuesday play results:
COG: Was recovering late on strong volume so decided to wait.
TLCV: Not enough volume but looks ready.
CLF: Nice handle still forming to an excellent base.
OCAS: Ready for the breakout.
New Plays:
Downside:
Play Date: 08/17/2004
CNQR (Concur Technologies--$9.3; -0.17; optionable): Computer software
http://biz.yahoo.com/p/c/cnqr.html
STATUS: Put. CNQR fell out of the bottom of a long flat base at 10. It just made a new low and has rallied back to the 18 day EMA (9.43). It showed a doji Tuesday on rising volume after tapping at the 18 day. Looking for it to fail here and continue lower. Can give us a nice 60%ish gain.
Volume: 184.177K Avg Volume: 188.272K
BUY POINT: $9.22 Volume=215K Target=$8 Stop=$9.45
POSITION: JCQ UB - Sept. $10p (-69 delta)
http://www.investmenthouse.com/ct/cnqr.html
Play Date: 08/17/2004
XLE (Spdr Energy Sector--$30.60; -0.72; optionable): Energy sector spyder
http://biz.yahoo.com/p/x/xle.html
After Hours: $30.59
STATUS: Double top. A bigger perspective of GRP, but the XLE pattern is a truer double top, peaking in mid-July and then again to start this month. It moved along the 50 day EMA (31.50) and then started the drop Tuesday on a big volume spike. Ready to fall and a move to that target delivers a nice 50%ish move.
Volume: 5.489M Avg Volume: 1.788M
BUY POINT: $30.54 Volume=2.5M Target=$29.31 Stop=$30.85
POSITION: XLE UE - Sept. $31p (-68 delta)
http://www.investmenthouse.com/ci/xle.html
Upside:
Play Date: 08/17/2004
BLS (Bellsouth--$27.20; -0.13; optionable): Telecom services
http://biz.yahoo.com/p/b/bls.html
STATUS: Test breakout. BLS is in a 25 week base, blasting over the 200 day SMA (26.96) to end July. It has since moved laterally over that level on lower volume and in a narrow range. Solid 6 to 4 accumulation in the base and money flow surging ahead of price. A good set up to a break higher to follow that money.
Volume: 2.956M Avg Volume: 4.09M
BUY POINT: $27.88 Volume=6.1M Target=$30.91 Stop=$26.88
POSITION: BLS AY - Jan. $27.50c (50 delta) &/or Stock
http://www.investmenthouse.com/ci/bls.html
Play Date: 08/17/2004
TUNE (Microtune--$4.34; +0.20; no options): Semiconductor integrated circuits
http://biz.yahoo.com/p/t/tune.html
STATUS: Ascending triangle. Moving laterally over the 50 day EMA (3.95) the past 9 weeks, showing strong 3 to 0 accumulation. That shows nothing but buying during the base, and volume has started to spike the past four sessions. Tuesday it shot higher on strong volume. Money flow is surging higher ahead of price, and it looks really ready to follow it.
Volume: 1.816M Avg Volume: 505.409K
BUY POINT: $4.54 Volume=758K Target=$5.45 Stop=$4.39
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/tune.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 option
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