|
|
us stock market, stock recommendation
Begin part 3 of 3
THE PLAYS
Good moves Tuesday: BGC; MBT; OCAS; ANN; JBLU
Monday night play results:
CWTR: Looks excellent on the test.
LSTR: Massing at the breakout. Solid pattern.
ANN: Higher volume as ANN heads lower.
DV: Heading lower after the 18 day EMA test.
Upside:
Play Date: 08/31/2004
BCR (C.R. Bard--$56.1; +1.17; optionable): Medical instruments
http://biz.yahoo.com/p/b/bcr.html
STATUS: Cup. Volume was up Tuesday as BCR continued its move off of the bottom of its 12 week base. A strong move higher in 2003 and through the end of May, it needed this breather to reset and prepare for the next move. Strong money flow is leading higher, and we are looking to start a partial position on the continued move here and then on a breakout over 58. A market leader looking for another all-time high.
Volume: 582.9K Avg Volume: 638.272K
BUY POINT: $56.55 Volume=800K Target=$62 Stop=$55.89
POSITION: BCR AK - Jan. $55c (63 delta) &/or Stock
http://www.investmenthouse.com/ci/bcr.html
Play Date: 08/31/2004
BYD (Boyd Gaming--$27.15; +0.37; optionable): Resorts and casinos
http://biz.yahoo.com/p/b/byd.html
STATUS: Double bottom. Volume jumped well above average Tuesday as BYD started the breakout from a nice 8 week double bottom base sporting excellent 4 to 0 accumulation. That indicates nothing but buyers during the base where it gathered itself for the next breakout and run higher. Solid money flow and relative strength ready to breakout as well. Very solid base that formed on top of the 50 day EMA (25.58), a sign of institutional strength. Looks ready to make the next move.
Volume: 617.5K Avg Volume: 371.59K
BUY POINT: $27.42 Volume=500K Target=$31.55 Stop=$26.38
POSITION: BYD LE - Dec. $25c (78 delta) &/or Stock
http://www.investmenthouse.com/ci/byd.html
Play Date: 08/31/2004
EBAY (Ebay--$86.54; +1.03; optionable): Internet auctions
http://biz.yahoo.com/p/e/ebay.html
After Hours: $86.51
STATUS: Double bottom w/handle. EBAY has overcome the earnings problems of the market in July by quietly scratching out the current 8 week base. It used the 200 day SMA (73.28) as support for the two legs. It is now working laterally on below average volume, forming the handle where the move seems to stall. That gets the last sellers out of the pattern. Money flow is moving higher and higher ahead of price, even as it moves laterally to form this handle. It was an early leader in the 2003 breakout and run. It looks to be setting up as an early leader here.
Volume: 7.182M Avg Volume: 9.043M
BUY POINT: $87.12 Volume=14M Target=$99.45 Stop=$84.98
POSITION: XBA AR - Jan. $90c (41 delta) &/or Stock
http://www.investmenthouse.com/ci/ebay.html
Play Date: 08/31/2004
MDCC (Molecular Devices--$23.00; -0.19; optionable): Scientific & technical instruments
http://biz.yahoo.com/p/m/mdcc.html
After Hours: $22.91
STATUS: Test 18 day EMA. We said we were going to watching for a test of the 18 day EMA (22.84), and MDCC is doing that. Tuesday it moved below the 18 day and then rebounded to close just over that level. This is the third session of pullback from this leader that broke out in early August, rallied to 25 and made us some nice money. Now this leader has tested back to near support. MDCC may not leap right off of here, but the snap back Tuesday makes us get ready in the event it jumps on some volume.
Volume: 306.315K Avg Volume: 194.727K
BUY POINT: $23.54 Volume=300K Target=$26.55 Stop=$22.72
POSITION: MCQ AX - Jan. $22.50c (60 delta) &/or Stock
http://www.investmenthouse.com/ci/mdcc.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.
|
us stock market
stock recommendation
|
