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stock recommendation, stock investment information
Begin part 3 of 3
THE PLAYS
Good moves Wednesday: AGYS; BGC; DUSA; GENZ; JUPM; SAPE; SNDA; TUNE; ZBRA
Tuesday night play results:
CME: Still forming a very nice handle.
GENZ: Solid move higher once more.
URBN: Continued working on its handle on low volume.
PTEN: Rebounded sharply to the 200 day.
RSAS: Stopped the turn down for the day.
Upside:
Play Date: 08/25/2004
COL (Rockwell-Collins--$35.12; +0.94; optionable): Aerospace/defense
http://biz.yahoo.com/p/c/col.html
STATUS: Double bottom w/handle. Volume jumped back above average Wednesday as COL moved toward the breakout from its 30 week base. Excellent 11 to 2 accumulation in the base that used the 200 day SMA (31.34) on the low of the right leg of the double bottom. Money flow is surging higher ahead of price as COL moves for the breakout. Money flow has already broken out on the move. Very solid.
Volume: 694.2K Avg Volume: 609.772K
BUY POINT: $35.25 Volume=750K Target=$40 Stop=$34.22
POSITION: COL AG - Jan. $35c (56 delta) &/or Stock
http://www.investmenthouse.com/ci/col.html
Play Date: 08/25/2004
GRA (W.R. Grace & Co.--$6.15; +0.11; optionable): Specialty chemicals
http://biz.yahoo.com/p/g/gra.html
STATUS: Double bottom w/handle. After a big breakout and run from early June, GRA has formed this neat little 9 week base over the 50 day EMA (5.54). Accumulation in the base is a strong 3 to 0, indicating net buyers of the stock as it bases. Excellent money flow to boot. Volume has started to jump above average the past week on the up sessions. It is getting ready to bust higher.
Volume: 470.3K Avg Volume: 868.227K
BUY POINT: $6.28 Volume=1M Target=$7.55 Stop=$5.88
POSITION: GRA LA - Dec. $5c (78 delta) &/or Stock
http://www.investmenthouse.com/ci/gra.html
Play Date: 08/25/2004
JCP (J.C. Penney--$39.79; +0.34; optionable): Department stores
http://biz.yahoo.com/p/j/jcp.html
STATUS: Ascending triangle. May seem boring, but it is a great pattern from one of the lead retailers. While other department stores suffer, JCP reported great back to school business. Indeed, it has continually outperformed its peers the past year. The pattern shows it with strong 4 to 1 accumulation in the 9 week base that has made a series of higher lows along the 50 day EMA (38.13) as it presses up against 40 on tops. It is building pressure for another breakout move. Looks solid with money flow moving higher ahead of price and relative strength ready for the breakout.
Volume: 1.964M Avg Volume: 2.817M
BUY POINT: $40.12 Volume=4.2M Target=$44.95 Stop=$38.89
POSITION: JCP AH - Jan. $40c (51 delta) &/or Stock
http://www.investmenthouse.com/ci/jcp.html
Play Date: 08/25/2004
PHRM (Pharmion--$46.98; +2.58; optionable): Drugs
http://biz.yahoo.com/p/p/phrm.html
STATUS: Double bottom. A new issue in November 2003, PHRM exploded higher in May, powering up over 50 on that breakout. It has spent the past 8 weeks consolidating that move, tapping the 50 day EMA (43.22) twice to form the double bottom legs. Solid 2 to 0 accumulation in the pattern, money flow running strongly ahead of price. Volume has crept up the past two sessions as PHRM moved off the 50 day. Love new issues in their first bases.
Volume: 438.702K Avg Volume: 515.272K
BUY POINT: $47.25 Volume=773K Target=$53.55 Stop=$45.85
POSITION: JUT LI - Dec. $45c (62 delta) &/or Stock
http://www.investmenthouse.com/ci/phrm.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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