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us stock market, stock ticker
Begin part 3 of 3
THE PLAYS
Good movers Tuesday: CHTT; CWTR; DECK; IGL; INSP; LEG; MEE
Weekend play results:
LLL: Still forming a nice handle to a nice base.
MEE: Solid volume as it broke out.
PXLW: Doji below the 18 day EMA. Looks ready to fail.
VSH: Struggling at the 18 day EMA still.
New plays for Wednesday:
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/cd/avl.html
Play Date: 09/07/2004
NTMD (Nitromed--$18.77; +0.27; optionable): Drugs
http://biz.yahoo.com/p/n/ntmd.html
After Hours: $18.77
STATUS: Pennant. Nice lateral move over the 18 day EMA (18.23) on very, very low, below average volume. Moving laterally the past 5 weeks after an explosive breakout in mid-July sent the stock from 6 to 22. It has been testing that move and looks as if it is finally getting to a point where it is ready to make the break higher; doesn't hurt that the market is trying to break higher as well. Solid 2 to 0 accumulation in the lateral move is setting the stage for the next move. Strong money flow continues to move ahead of the stock. Waiting for the next break higher on strong volume.
Volume: 289.844K Avg Volume: 1.724M
BUY POINT: $19.48 Volume=1.8M Target=$23.55 Stop=$18.46
POSITION: QNR LD - Dec. $20c (55 delta) &/or Stock
http://www.investmenthouse.com/cd/ntmd.html
Downside:
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/cd/tek.html
Still look ready: ECIL; CTV; SBAC
SUBSCRIBER PORTFOLIO: These are stocks subscribers suggest by vote that we put in a portfolio to track and move into the stocks if they perform well. If you have any suggestions for additions or deletions, email us. We don't cover them all each report, just when something interesting is developing.
BR, COH, EASI, EBAY, GMAI, GTRC, HDWR, JNPR, MSFT, QCOM
HDWR: Continues to run higher but showing a doji. Might be looking for a breather coming up. Will look at selling some September $30 calls if it starts back down, then buy them back when it bounces off 30.
JNPR: Nice tight doji on the 200 day SMA. Holding up very well.
SUBSCRIBER WATCHLIST
We continually receive ideas for potential plays from subscribers. Many times they are already on our watchlists, other times not. We always take a look and sometimes find a gem or two, or more. We don't necessarily endorse these, but want to provide a forum for subscribers with ideas that may appeal to other subscribers. We may just put on the ticker or we might describe our thoughts as to why or why not we think it is a buy or sell. This is a way we can all learn a bit more and maybe find a few more candidates to make us some good money.
Upside:
TLAB: Working on the right side of a 9 month cup base. A break over 9.50 on volume is a good entry point.
Downside:
GSLI: Trending below the 10 day EMA since early July. Tapped at the 10 day again Tuesday and then failed.
Good Investing!
Jon L. Johnson and The Daily Staff
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 of 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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