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stock split, stock recommendation
Begin part 3 of 3
THE PLAYS
Good moves Wednesday: AVN; CSAR; DGX; DUSA; GIVN; SOSA; TDS; ZBRA; TEVA
Best Plays:
1) SHFL: Making a strong volume move.
2) MVSN: Nice base with volume starting to move higher.
3) KMRT: Volume is starting to move higher in the handle.
4) LSTR: Volume is surging.
5) PHRM: Volume continues to move higher in a nice base.
NEW PLAYS:
Upside:
Play Date: 09/01/2004
JAKK (Jakks Pacific--$19.56; -0.02; optionable): Toys and games
http://biz.yahoo.com/p/j/jakk.html
STATUS: Flat. JAKK is working through an 11 week base formed over the 50 day EMA (19.29), showing some excellent volume surge this week as it tightens its range over the 50 day EMA. Accumulation in the pattern is solid at 3 to 0, showing all buyers during this base where the stock catches its breath. Surging money flow is leading higher. JAKK looks ready to make the break higher, particularly with the surging volume this week.
Volume: 295.372K Avg Volume: 316.045K
BUY POINT: $20.89 Volume=474K Target=$24 Stop=$19.63
POSITION: UFF LD - Dec. $20c (48 delta) &/or Stock
http://www.investmenthouse.com/ct/jakk.html
Play Date: 09/01/2004
MRVL (Marvell Technology--$23.67; +0.55; optionable): Semiconductor integrated circuits
http://biz.yahoo.com/p/m/mrvl.html
STATUS: Double bottom w/handle. After its split in late June MRVL lapsed into the current 9 week base, recuperating after its breakout. It got the dips in early August but then stormed back on volume to retake the 50 day EMA (22.84). It then moved laterally over the 50 day on much lower, below average volume. This is the lateral move that shakes out the last sellers as it looks as if the move is stalling. Solid 4 to 2 accumulation in the base shows money still moving into the stock during this consolidation. Money flow is surging ahead of price. Setting up well and looking for volume to move back above average as it moves through the buy point.
Volume: 3.219M Avg Volume: 5.5M
BUY POINT: $24.05 Volume=8.2M Target=$28 Stop=$23.65
POSITION: UVM KT - Nov. $23.75c (53 delta) &/or Stock
http://www.investmenthouse.com/ct/mrvl.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/ct/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/ct/shfl.html
CONTINUING PLAYS:
Play Date: 08/18/2004
DECK (Deckers Outdoor--$29.75; +0.39; no options): Footwear
http://biz.yahoo.com/p/d/deck.html
After Hours: $29.75
STATUS: Ascending triangle. DECK continues to tighten up its range as it moves up the 50 day EMA (28.61) in its 19 week base. Accumulation in the base is 5 to 3. Solid base and a breakout leads it to a new all-time high.
Volume: 273.25K Avg Volume: 326.454K
BUY POINT: $31.54 Volume=550K Target=$36.55 Stop=$29.95
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/deck.html
Play Date: 08/28/2004
DRAX (Draxis Health--$4.5; +0.03; no options): Drug products
http://biz.yahoo.com/p/d/drax.html
STATUS: Cup w/handle. Still working on the handle to its 22 week pattern, easing back to the 18 day EMA (4.38) on very low, below average volume. Solid 4 to 2 accumulation in the base and money flow continues to move higher ahead of the price even as price moves laterally. This is the shakeout point, and after the last sellers are gone, the stock is free to make the move higher. Being patient and letting it show us this move before we move in.
Volume: 47.114K Avg Volume: 145.909K
BUY POINT: $4.78 Volume=226K Target=$5.75 Stop=$4.45
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/drax.html
Play Date: 08/18/2004
KMRT (Kmart Holding--$77.92; +1.3; optionable): Discount variety stores.
http://biz.yahoo.com/p/k/kmrt.html
After Hours: $77.82
STATUS: Double bottom w/handle. Starting the move higher in the two week handle to its 8 week base. Money flow continues to rise ahead of price even as the stock moves laterally over the 18 day EMA (75.09). Volume started higher Wednesday as the stock edged off of that support level. Still below average, but starting to look promising.
Volume: 1.716M Avg Volume: 2.676M
BUY POINT: $79.42 Volume=3.6M Target=$88.88 Stop=$77.85
POSITION: KTQ LP - Dec. $80c (53 delta)
http://www.investmenthouse.com/ct/kmrt.html
Play Date: 08/30/2004
LSTR (Landstar System--$52.98; +0.5; optionable): Trucking
http://biz.yahoo.com/p/l/lstr.html
After Hours: $52.97
STATUS: Double bottom w/handle. Jumped higher and volume was solid, but it could not hold the move to the close. Still looks very solid in its 8 week base sporting 4 to 1 accumulation and surging money flow. Still looks very good.
Volume: 304.648K Avg Volume: 224.181K
BUY POINT: New: $53.12 (orig. $52.45) Volume=334K Target=$58 Stop=$50.98
POSITION: QRY AJ - Jan. $50c (65 delta) &/or Stock
http://www.investmenthouse.com/ct/lstr.html
Play Date: 08/31/2004
MDCC (Molecular Devices--$23.21; +0.21; optionable): Scientific & technical instruments
http://biz.yahoo.com/p/m/mdcc.html
After Hours: $22.91
STATUS: Test 18 day EMA. Still testing the 18 day EMA (22.88), showing a hammer doji at that point on lower volume. MDCC surged in a nice breakout in August, rallying to 25 and making us some good money. It is testing that breakout move now, and we are ready to move back in when the stock shows some upside volume on the rebound, showing us the test is successful.
Volume: 165.296K Avg Volume: 199.363K
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/cd/mdcc.html
Play Date: 08/30/2004
OMN (Omnova Solutions--$6.00; +0.11; no options): Specialty chemicals
http://biz.yahoo.com/p/o/omn.html
STATUS: Flat. Volume jumped Wednesday, moving back above average in the 11 week base. Excellent 5 to 1 accumulation in the pattern that formed over the 50 day EMA (5.86), both signs of institutional support for the stock. The current base follows a series of flat bases since mid-2003. Continues setting up very well, and we are looking for a strong volume breakout move. Volume is getting there.
Volume: 129K Avg Volume: 91.954K
BUY POINT: $6.29 Volume=137K Target=$7.56 Stop=$5.85
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/omn.html
Play Date: 08/25/2004
PHRM (Pharmion--$49.11; -0.06; optionable): Drug manufacturers
http://biz.yahoo.com/p/p/phrm.html
STATUS: Double bottom. Still solid in its 8 week base. It looked ready to form a handle, but the past two sessions was flirting with a breakout on rising volume. Very solid with excellent 4 to 0 accumulation and surging money flow. A bit more volume and it is ready for the buy.
Volume: 463.706K Avg Volume: 500.863K
BUY POINT: $48.36 Volume=773K Target=$53.55 Stop=$45.85
POSITION: JUT LI - Dec. $45c (62 delta) &/or Stock
http://www.investmenthouse.com/ct/phrm.html
Play Date: 08/21/2004
PLMD (Polymedica--$30.74; +0.33; optionable): Drugs
http://biz.yahoo.com/p/p/plmd.html
STATUS: Cup w/handle. Volume has been up this week with PLMD punching at the breakout level but unable to hold the move. Very solid in the 9.5 month base showing outstanding 11-2 accumulation and strong money flow. Still looks ready to make the move, but we want to see it hold the move toward the close.
Volume: 151.312K Avg Volume: 233.318K
BUY POINT: Aggressive: $30.79 Breakout: Clear recent resistance at 31. Volume=357K Target=$35 Stop=$29.75
POSITION: PM LF - Dece. $30c (50 delta) &/or Stock
http://www.investmenthouse.com/ct/plmd.html
Good Investing!
Jon L. Johnson and your Technical Traders Report 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 split
stock recommendation
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