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stock recommendation, stock market recommendation
Begin part 3 of 3
THE PLAYS
Good moves Wednesday: AVN; COO; CSAR; DO; DUSA; GIVN; HANS; INSP; MBT; TDS; TRA; ANN; JBLU
Tuesday night play results:
BCR: Edged higher as volume backed off. Still solid.
BYD: Working laterally, forming a handle.
EBAY: Volume is up. It is ready to go.
MDCC: Still set to move over the 18 day EMA.
Upside:
Play Date: 09/01/2004
CLE (Claires Stores--$24.86; +0.52; optionable): Apparel stores
http://biz.yahoo.com/p/c/cle.html
STATUS: Breakout test. CLE gapped out of a 34 week base two weeks back, moving on some serious volume. It then moved laterally over the 10 day EMA (24.41) on lower, below average volume. Tuesday it tapped at the 18 day EMA and then rebounded Wednesday on rising though still below average volume. Accumulation in the prior base is a solid 9 to 5, showing money moving in as it based and setting up this breakout move. Money flow is surging ahead of price and relative strength broke out on the move. Good test and looks ready to move higher. Want to see more volume on the move through the buy point.
Volume: 571K Avg Volume: 624.818K
BUY POINT: $25.15 Volume=725K Target=$28.38 Stop=$24.32
POSITION: CLE BE - Feb. $25c (54 delta) &/or Stock
http://www.investmenthouse.com/ci/cle.html
Play Date: 09/01/2004
DKS (Dicks Sporting Goods--$32.50; +0.12; optionable): Sporting goods stores
http://biz.yahoo.com/p/d/dks.html
STATUS: Reverse head and shoulders. DKS is moving in a very flat right shoulder over the 18 day EMA (31.63) to its 10 week base. Volume has backed off as it makes the shoulder. Very solid 4 to 2 accumulation in the base shows money moving in during the pattern. Money flow is surging higher ahead of price. This tight lateral move typically precedes a breakout move. A market leader with solid sales and earnings growth.
Volume: 372.2K Avg Volume: 764.045K
BUY POINT: $33.24 Volume=1.1M Target=$38 Stop=$31.98
POSITION: DKS LF - Dec. $30c (79 delta) &/or Stock
http://www.investmenthouse.com/ci/dks.html
Play Date: 09/01/2004
MVSN (Macrovision--$23.53; -0.12; optionable): Business software and services
http://biz.yahoo.com/p/m/mvsn.html
After Hours: $23.48
STATUS: Double bottom w/handle. Moving laterally over the 10 day EMA (23.20) in its 10 week base sporting excellent 4 to 1 accumulation and strong money flow. This lateral and lower move is where the last impatient sellers are shaken out of the stock. Once they are gone supply and demand takes over and the stock can make the breakout and follow that money flow higher.
Volume: 444.801K Avg Volume: 451.272K
BUY POINT: $24.07 Volume=677K Target=$27.22 Stop=$23.45
POSITION: MVU AX - Jan. $22.50c (67 delta) &/or Stock
http://www.investmenthouse.com/ci/mvsn.html
Play Date: 09/01/2004
SHFL (Shuffle Master--$34.36; +1.22; optionable): Card shufflers
http://biz.yahoo.com/p/s/shfl.html
After Hours: $34.59
STATUS: Cup. SHFL is forming a nice 12 week base that used the 200 day SMA (28.95) on the low as support. A key support level; if it breaks on volume that means the big money is no longer supporting the stock. It held, and after reclaiming the 50 day EMA (32.26), the stock is moving higher on a strong volume surge the past two sessions. Strong 3 to 1 accumulation in the base, and as with other leaders, money flow is surging ahead of price. Looking for the stock to continue following that money higher.
Volume: 1.283M Avg Volume: 622.363K
BUY POINT: $34.57 Volume=934K Target=$39.55 Stop=$33.95
POSITION: SFQ KG - Nov. $35c (50 delta) &/or Stock
http://www.investmenthouse.com/ci/shfl.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 market recommendation
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