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trade stock, stock recommendation
Begin part 3 of 3
THE PLAYS
Good moves Tuesday: AGYS; CLF; CME; CWTR; KMRT; MBT; PMTI; SNDA; INSP; RIMM
Weekend play results:
ADI: Fading but on lower volume.
POWI: Doji on above average volume. Still ready to fall.
PXLW: Doji below the 18 day EMA.
CTSH: Still in a nice pattern.
LIFC: Gapped higher and ran, but then gave back much of the move.
LLL: Still forming that nice handle to the base.
Downside:
Play Date: 09/07/2004
SVU (Supervalu--$27.18; +0.16; optionable): Wholesale food.
http://biz.yahoo.com/p/s/svu.html
STATUS: Put. SVU peaked in June and has sold below the 18 day EMA (27.91). It has used that moving average as resistance on the entire drop. Friday it tapped the 18 day and Tuesday it tried to make the break over that resistance but failed. Volume failed also, fading well below average. Looking for it to roll over from here and continue the trend lower. Looking for a gain in the 42%ish range.
Volume: 546.4K Avg Volume: 748.181K
BUY POINT: $26.88 Volume=850K Target=$25.32 Stop=$27.22
POSITION: SVU VF - Oct. $30p (-90 delta)
http://www.investmenthouse.com/ci/svu.html
Play Date: 09/07/2004
TEK (Tektronix--$28.80; +0.45; optionable): Scientific & technical instruments
http://biz.yahoo.com/p/t/tek.html
STATUS: Put. Struggling below the 50 day EMA (29.55) for the past three weeks and is now struggling below the 18 day EMA (29.01). Friday it sold below that level on much stronger volume, Tuesday it tried to move over that level but failed on the close. Could not participate in the market rally Tuesday, so we are looking for it to continue selling when the market move weakens.
Volume: 341.5K Avg Volume: 531.09K
BUY POINT: $28.55 Volume=600K Target=$26.75 Stop=$28.88
POSITION: TEK VG - Oct. $30p (-66 delta)
http://www.investmenthouse.com/ci/tek.html
Upside:
Play Date: 09/07/2004
AVL (Aviall--$21.35; +0.93; optionable): Aerospace/defense
http://biz.yahoo.com/p/a/avl.html
STATUS: Cup. Volume is surging as AVL makes the breakout move from an 8 week cup base that formed right on top of the 50 day EMA (19.39). This is the second strong volume spike in 4 sessions. Strong 3 to 1 accumulation in the pattern shows buyers moving in as it took a breather. Money flow is shooting higher, leading price to the upside. Looking for the price to continue following the money flow higher.
Volume: 286.4K Avg Volume: 158.818K
BUY POINT: $21.52 Volume=175K Target=$24.68 Stop=$20.97
POSITION: AVL LD - Dec. $20c (75 delta) &/or Stock
http://www.investmenthouse.com/ci/avl.html
Play Date: 09/07/2004
STLD (Steel Dynamics--$34.20; +1.86; optionable): Steel & iron
http://biz.yahoo.com/p/s/stld.html
After Hours: $34.10
STATUS: Breakout. Volume surged as STLD broke out from an 8 week triangle that formed over the 50 day EMA (30.43), making higher and higher lows above that level. Accumulation in the base is positive at 2 to 1, indicating net buyers as it took a breather from another good breakout in June. Relative strength is making the breakout as well, a good corroboration of the price move. Looking to start positions on a further move higher on some good trade and then again on a successful test.
Volume: 1.722M Avg Volume: 748.318K
BUY POINT: $34.38 Volume=750K Target=$39 Stop=$33.55
POSITION: RQL BG - Feb. $35c (50 delta) &/or Stock
http://www.investmenthouse.com/ci/stld.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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trade stock
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