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stock recommendation, stock option
Begin part 3 of 3
THE PLAYS
Good moves Monday: BSTE; MDCC; QCOM; TUNE; COG; GRP
Weekend play results:
DRS: Tried to extend, but volume was not there yet.
FAST: Still solid. Took the day off.
RIMM: Could use a bit more volume. If it comes in it is a buy.
WITS: Nice lateral move as it took a low volume breather
ERES: Still struggling at the 10 day EMA
TEVA: Tried to retake the 10 day EMA but failed. Need to see it fall on stronger volume.
Upside:
Play Date: 08/23/2004
COO (Cooper Companies--$58.3; +0.26; optionable): Medical instruments
http://biz.yahoo.com/p/c/coo.html
STATUS: 50 day EMA test. Working in something of a pennant the past 8 weeks, using the 50 day EMA (57.93) as support for the base. The past week it has move laterally over that key support in a very narrow range and on very low, below average volume. While it makes this lateral move, money flow continues to work higher and higher. Positive accumulation in the base (2 to 1) is further indication of the net money moving into the stock during this consolidation. Volume has dried up and the range has contracted, usually the quiet before the storm. Looking for a strong breakout to give COO one more good run and put some nice money in the pocket. Prefer options on this one but stock will also deliver a nice gain.
Volume: 256.7K Avg Volume: 442.181K
BUY POINT: $59.28 Volume=650K Target=$65.35 Stop=$57.82
POSITION: COO KL - Nov. $60c (43 delta) &/or Stock
http://www.investmenthouse.com/ci/coo.html
Play Date: 08/23/2004
PLMO (Palmone--$39.95; +1.80; optionable): Wholesale computers
http://biz.yahoo.com/p/p/plmo.html
After Hours: $40
STATUS: Flat/flying plateau. While much of tech is struggling still, PLMO has been a market leader. It exploded out of a 2.5 month base in June, part of a base-on-base pattern that started October 2003. Since July it has moved in the current base, a 7 week pattern at roughly the 18 day EMA (38.09). Excellent 5 to 1 accumulation in the pattern is setting up the next move. After a quick tap to the 50 day EMA (34.22) last week it has started up off the 18 day on rising, average volume. Solid money flow to go with the accumulation. Looking for some more big volume as it moves through the buy point and toward our initial target.
Volume: 4.117M Avg Volume: 3.558M
BUY POINT: $40.78 Volume=5.3M Target=$46.88 Stop=$39.88
POSITION: UPY KH - Nov. $40c (56 delta) &/or Stock
http://www.investmenthouse.com/ci/plmo.html
Play Date: 08/23/2004
PMTI (Palomar Medical Tech--$18.00; +1.53; no options): Medical appliances
http://biz.yahoo.com/p/p/pmti.html
STATUS: Double bottom. PMTI is breaking out from a 19 week double bottom base that formed just a little 2-day handle last week. Volume shot higher Monday as MPTI moved off the 10 day EMA (16.13) that it used as the support. Strong 6 to 3 accumulation in the base shows net buyers and set the stage for the move. Looking to move in on a further gain with more solid volume.
Volume: 425.794K Avg Volume: 148K
BUY POINT: $18.15 Volume=222K Target=$21.95 Stop=$17.45
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/pmti.html
Play Date: 08/23/2004
POOL (SCP Pool--$43.43; -0.02; optionable): Basic materials. Splits 3:2 on 9-13-04
http://biz.yahoo.com/p/p/pool.html
After Hours: $43.81
STATUS: Pre-split cup. Looks ready to jump up in a short 6 week base that followed a nice breakout and run in April. Friday POOL was up on some rising volume, but Monday that volume was much better, moving toward average. Money flow is leading higher and there is positive 2 to 1 accumulation in the current pattern. Looking for volume to continue to work higher as it continues the Friday move after a rest Monday.
Volume: 273.831K Avg Volume: 278.909K
BUY POINT: $44.12 Volume=300K Target=$48.45 Stop=$42.89
POSITION: QCL AI - Jan. $45c (42 delta)
http://www.investmenthouse.com/ci/pool.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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