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stock recommendation, stock investment information
Begin part 3 of 3
THE PLAYS
Good moves Tuesday: AGYS; STSI; GPD
Monday night play results:
COO: Slipped below the 50 day EMA on continued low volume.
PLMO: Gapped higher but gave it all back and more.
PMTI: Another gap higher and then a give back.
POOL: Still looking good but needs more trade.
Upside:
Play Date: 08/24/2004
CME (Chicago Merchantile Exchange--$136.41; -0.98; optionable): Commodities, securities, currency, etc. trading
http://biz.yahoo.com/p/c/cme.html
STATUS: Double bottom w/handle. After a nice surge in 2003 CME needed a breather, and the current 7 week base is a good consolidation to set up the next move higher. Solid 2 to 0 accumulation in the pattern shows net buyers still. Good move laterally over the 50 day EMA (129.73) on lower volume is setting up the handle and the next breakout. Money flow is moving higher ahead of price, and we look for CME to follow the money higher. Nice 'get ready' spike Monday.
Volume: 431.6K Avg Volume: 618.454K
BUY POINT: $138.88 Volume=928K Target=$154 Stop=$136.38
POSITION: CME LH - Dec. $140c (46 delta)
http://www.investmenthouse.com/ci/cme.html
Play Date: 08/24/2004
GENZ (Genzyme--$52.92; +0.67; optionable): Biotechnology
http://biz.yahoo.com/p/g/genz.html
After Hours: $52.94
STATUS: Cup w/handle. Taking another look at GENZ. It has regrouped after an early August drop to the 200 day SMA (47.92), coming back well and reforming the handle to its 28 week base. Money flow is strong, running higher ahead of price. Volume was up Tuesday, but was not quite there. Looks solid, but again, want to see more trade.
Volume: 2.225M Avg Volume: 2.494M
BUY POINT: $53.12 Volume=3.2M Target=$60 Stop=$51.44
POSITION: GZQ AJ - Jan. $50c (73 delta) or GZQ AK - Jan. $55c (42 delta) &/or Stock
http://www.investmenthouse.com/ci/genz.html
Play Date: 08/24/2004
URBN (Urban Outfitters--$29.18; +0.09; optionable): Specialty apparel stores
http://biz.yahoo.com/p/u/urbn.html
After Hours: $29.29
STATUS: Double bottom w/handle. A nice, short 8 week pattern that has formed at the 50 day EMA (28.28), an indication of institutional support. This move is consolidating a strong move 2003 through June. Volume has backed down the past week as URBN moves laterally over the 18 day EMA (28.82), forming the handle in a narrow range. It is setting up for the next move just as is the market, but the pattern is a lot better.
Volume: 589.707K Avg Volume: 1.562M
BUY POINT: $30.28 Volume=2.2M Target=$35 Stop=$28.98
POSITION: URQ LF - Dec. $30c (47 delta) &/or Stock
http://www.investmenthouse.com/ci/urbn.html
Downside:
Play Date: 08/24/2004
PTEN (Patterson-Uti Energy--$15.95; -0.45; optionable): Oil and gas drilling & exploration
http://biz.yahoo.com/p/p/pten.html
After Hours: $15.97
STATUS: Put (head and shoulders). Tried to rally through July, but peaked at 18 and rolled over. It sold to 16 and bounced the past week, forming the right shoulder to the 9 week bearish base. Volume shot higher Tuesday as PTEN sold down to the neckline right at 16. Money flow is diving lower, and we are looking for PTEN to follow.
Volume: 3.924M Avg Volume: 2.5M
BUY POINT: $15.82 Volume=2.5M Target=$14.42 Stop=$16.18
POSITION: NZQ VW - Oct. $17.50p (-75 delta)
http://www.investmenthouse.com/ci/pten.html
Play Date: 08/24/2004
RSAS (RSA Security--$16.39; -0.25; optionable): Security software
http://biz.yahoo.com/p/r/rsas.html
STATUS: Put (head and shoulders). Heading back down to the neckline near 16 in its 20 week bearish base. It cut through the 200 day SMA (16.80) 2 weeks back, rallied to test the breakdown, and is stalling. Volume was up some Tuesday as it sold harder below the 200 day. Looking for volume to continue to rise as the stock continues the move lower.
Volume: 560.816K Avg Volume: 929.909K
BUY POINT: $16.15 Volume=935K Target=$14.05 Stop=$16.85
POSITION: QSD VW - Oct. $17.50p (-69 delta)
http://www.investmenthouse.com/ci/rsas.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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