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stock recommendation, stock investment information
Begin part 3 of 3
THE PLAYS
Good moves Thursday: BOL; DO; CLF; CTSH; SKX; WITS; SNDA; STLD; ERES
Wednesday night play results:
AAI: Gapped lower on continued strong volume.
CNQR: Low volume bounce back up to the 50 day EMA.
SYY: Doji at the 18 day EMA.
AH: Working laterally still.
CSGP: Volume faded and it held steady.
Downside:
Play Date: 09/09/2004
ACDO (Accredo Health--$24.6; +1.01; optionable): Specialized healthcare
http://biz.yahoo.com/p/a/acdo.html
After Hours: $24.56
STATUS: Put. ACDO has made a low volume rebound from a massive gap down to end August. The move this month has taken the stock back to the 18 day EMA (24.77); it broke through that level Thursday on strong volume, but then reversed to close below it. This has the look of a reversal session after the low volume rebound. It has also filled the gap from late August. This follows a long drop starting in early July. In short, ACDO is weak. Money flow remains in the tank and the stock has been under heavy distribution. Looking for a nice 60%ish gain at the target.
Volume: 2.077M Avg Volume: 986.828K
BUY POINT: $23.88 Volume=1.1M Target=$21.75 Stop=$24.22
POSITION: DZU VE - Oct. $25p (-53 delta)
http://www.investmenthouse.com/ci/acdo.html
Upside:
Play Date: 09/09/2004
CREE (Cree, Inc.--$25.78; +1.35; optionable): Specialized semiconductor equipment
http://biz.yahoo.com/p/c/cree.html
After Hours: $25.71
STATUS: Cup w/handle. We have been watching CREE form up a nice 7.5 month base despite the carnage in the overall chip sector. The past three weeks it has formed a nice flat handle to that base. Accumulation is a strong 7 to 3, showing buyers moving into the stock during the long consolidation. Solid money flow is leading higher. Volume jumped well above average Thursday as it jumped higher and moved toward the breakout. Looks solid.
Volume: 2.795M Avg Volume: 1.923M
BUY POINT: $26.11 Volume=2.9M Target=$30 Stop=$25.65
POSITION: CQR LE - Dec. $25c (61 delta) &/or Stock
http://www.investmenthouse.com/ci/cree.html
Play Date: 09/09/2004
RAE (Rae Systems--$5.99; +0.31; optionable): Rapid deployment multi-sensor chemical detection monitors
http://biz.yahoo.com/p/r/rae.html
STATUS: Cup w/handle. Volume has started to race higher the past week as RAE forms a small handle to its 5 month base sporting strong 7 to 3 accumulation and surging money flow that is racing ahead of price. Very strong with relative strength showing a positive divergence, ready to breakout; a bullish indicator. Very good looking.
Volume: 616.5K Avg Volume: 323.905K
BUY POINT: $6.12 Volume=486K Target=$7.42 Stop=$5.78
POSITION: RAE LA - Dec. $5c (78 delta) &/or Stock
http://www.investmenthouse.com/ci/rae.html
Play Date: 09/09/2004
VLO (Valero Energy--$69.76; +3.06; optionable): Oil and gas refining. Splits 2:1 on 10-8-04
http://biz.yahoo.com/p/v/vlo.html
After Hours: $69.74
STATUS: Cup. A pre-split showing a lot of momentum with two strong volume spikes in the past three sessions. VLO peaked in July and gave us a nice downside play. It found support at 65 where it consolidated and formed the bottom of the current 7 week pattern. It has started jumping to form the right side of the base, and we are looking to catch the momentum as it runs up the right side of the pattern.
Volume: 2.946M Avg Volume: 2.316M
BUY POINT: $70.21 Volume=3M Target=$76 Stop=$68.89
POSITION: VLO LO - Dec. $70c (58 delta)
http://www.investmenthouse.com/ci/vlo.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 investment information
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