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stock recommendation, stock market report
Begin part 2 of 2
THE PLAYS
Good movers Thursday: AGYS; CAND; FFIV; OIS; WYNN; OEX
NEW PLAYS:
Upside:
Play Date: 09/23/2004
VLO (Valero Energy--$75.59; -0.06; optionable): Oil and gas refining. Splits 2:1 on 10-8-04
http://biz.yahoo.com/p/v/vlo.html
STATUS: Cup w/handle. VLO shot higher Tuesday and is now moving laterally, holding a narrow range on the close. Has formed a nice 11 week base around the 50 day EMA (69.60). It could move laterally for another session or two, further setting up the handle and the breakout move. Just being patient and letting make the next move.
Volume: 1.792M Avg Volume: 2.308M
BUY POINT: $76.65 Volume=3.5M Target=$83.45 Stop=$75.55
POSITION: VLO LO - Dec. $75c (57 delta)
http://www.investmenthouse.com/ct/vlo.html
Downside:
Play Date: 09/23/2004
PPG (PPG Industries--$58.67; -0.34; optionable): Conglomerate
http://biz.yahoo.com/p/p/ppg.html
STATUS: Put. PPG rallied with the market in August, clearing the 200 day SMA (59.81) in early September. Not much volume on the move and it rolled over. Volume jumped last week as it tried to break back over that key level but failed. It started lower on above average volume, and it looks ready for the next drop. Looking for a 42%ish gain to the target.
Volume: 530K Avg Volume: 494.038K
BUY POINT: $58.55 Volume=545K Target=$56.45 Stop=$59.24
POSITION: PPG WL - Nov. $60p (-60 delta)
http://www.investmenthouse.com/ct/ppg.html
CONTINUING PLAY TABLE:
* * SPREADSHEET DOWNLOAD * * *
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http://www.technicaltraders.com/ttr/table.php
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http://www.investmenthouse.com/rescue/rescue.php3
LEGEND
DATE: date play first appeared on report.
PLAY: Denotes the type of pattern or play.
Upside play types: Asc Tri=Ascending triangle/wedge; BO=Breakout; Cup=Cup base; Cup hdl=Cup w/handle; DB hdl=Double bottom w/handle; Dbl btm=Double bottom; Flat=Flat base; FlyPlat=Flying Plateau; Pennant=Pennant; Rv H&S=Reverse head & shoulders; Saucer=Saucer base; Test 18=Testing 18 day MVA; Test 50=Testing 50 day MVA; Test BO=Testing the breakout (could be 10 day MVA test, etc.)
Downside play types: CCall=Covered Call; Dsc Tri=Descending triangle/wedge; Dbl Top=Double top; H&S=Head & shoulders; Put (generic downside);
PIVOT=Buy point
Tgt=Target stock price for the play. Applies to stock and options.
Vol=Volume for the most recent session.
TgtV=Target volume to enter the play.
Stop=Stop advisory point. This is advisory and we may or may not exit a play if it hits this level depending upon market conditions.
Upside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
ADI 09/20 DB hdl 38.62 +0.25 39.42 44 3.2M 4.8M 38.88
Buy Not Issued.
AGYS 08/14 Test BO 16.41 +0.33 15.16 17.84 471K 276K 15.79
Current.
AKAM 09/18 DB hdl 14.46 -0.03 15.52 18 1.5M 4M 14.98
Buy Not Hit.
AMMD 09/14 DB hdl 35.92 -0.18 33.64 38.25 344K 250K 35.34
Current.
BDX 09/13 Cup hdl 50.61 +0.05 51.48 57 732K 1.5M 50.14
Buy Not Issued.
CAND 09/09 Flat 3.89 +0.14 3.15 4 655K 277K 3.62
Target Hit.
CHTT 08/27 Cup 32.35 -0.04 30.35 34.72 109K 258K 31.84
Current.
DRS 09/08 Flat 37.07 -0.81 37.88 43 185K 546K 36.67
Buy Not Issued. Continue to move down below the 18 day MVA on low volume. The stock has not performed so will drop.
FFIV 09/15 Test 20 31.04 +0.95 30.58 35.15 906K 1.3M 29.89
Current.
FLS 09/16 Cup hdl 24.1 +0.05 24.44 28.48 185K 415K 23.62
Buy Not Issued.
GENZ 09/18 Cup hdl 55.78 +0.07 55.54 62.55 1.9M 3.5M 54.05
Current.
GLDN 09/22 DB hdl 30.97 +0.56 30.75 35.88 77K 106K 29.88
Buy Not Issued.
JAKK 09/01 Flat 22.86 +0.13 21.07 24.18 195K 474K 22.44
Current.
KMRT 08/18 Dbl btm 85.59 +0.94 80.22 92 1.4M 3.6M 87.88
Current.
LH 09/20 DB hdl 43.75 +0.32 43.59 49.68 1.3M 750K 42.42
Current.
MDCC 08/31 Test 18 23.42 +0.02 23.93 26.95 64K 300K 23.68
Exited.
NCOG 09/09 Cup 26.35 -0.16 26.32 30 86K 235K 25.65
Buy Not Issued. Continue to move down holding the 10 day MVA on low volume. The stock has not mad the move we were looking for so will drop, but will keep our eye on it.
OIS 09/15 Test BO 18.52 +0.32 18.05 21.21 388K 290K 17.49
Current.
QCOM 09/02 FlyPlat 38.72 +0.04 38.82 45 9.6M 11M 38.88
Current.
SNDK 09/20 Test 20 28.08 +0.13 27.92 33.42 5.7M 6.5M 27.12
Current.
STJ 09/22 Test 20 71.2 -0.79 72.65 76.55 1.2M 1.5M 71.65
Buy Not Hit.
STLD 09/07 BO 34.65 -1.13 34.62 39 1.5M 750K 36.38
Trailing Stop.
TDS 08/02 FlyPlat 82.55 +0.55 77.46 82.38 143K 265K 82.48
Current.
TXN 09/16 Test 50 22.45 +0.07 22.16 26 9M 2M 21.86
Current.
ULTI 09/21 DB hdl 12.3 -0.26 12.95 14.95 43K 224K 12.44
Buy Not Hit. Pullback testing the 10 day MVA intraday and rallied back on very low volume. The stock has not made the move we were looking for so will drop.
VRNT 09/04 Dbl btm 34.15 +0.07 33.58 38.36 115K 216K 34.14
Current.
WCN 09/11 Test BO 30.9 -0.08 30.69 34.22 131K 350K 30.78
Current.
WYNN 09/18 Cup hdl 45.51 +2.77 45.38 53 1.6M 558K 44.35
Entered today.
YHOO 09/02 Cup 33.04 +0.57 32.48 36 16M 25M 32.55
Current.
ZBRA 08/25 Dbl btm 60.92 +0.15 56.45 60 300K 425K 60.32
Current.
Downside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
ACDO 09/09 Put 24.78 -0.23 23.88 21.75 950K 1.1M 24.22
Buy Not Issued.
AMSG 08/28 Put 21.37 +0.02 22.35 20.55 94K 300K 21.58
Current.
AW 09/20 Put 8.81 -0.19 9.22 8.12 1.5M 1.5M 9.52
Buy Not Issued.
BBOX 09/15 Put 38.14 -0.78 37.48 35.24 216K 175K 37.82
Buy Not Hit. Moving down for a nice move on stronger above average volume holding the 18 day MVA. Stock has not made the move we were looking for so will drop.
CHKP 09/22 Put 17.92 -0.03 17.87 16.35 2.5M 3.5M 18.28
Buy Not Issued.
EYE 09/22 Put 20.19 -0.25 20.32 18.25 330K 485K 20.68
Buy Not Issued.
JCP 09/18 Put 36.75 +0.66 35.97 34.15 3.6M 3M 36.72
Current.
MOVI 09/18 Put 18.13 +0.26 17.46 16.43 374K 400K 17.69
Buy Not Issued. Continue to rally on average volume. The stock has not made the move we were looking for so will drop.
MXIM 09/13 Put 42.44 -0.3 41.82 39.85 7.1M 8.5M 42.34
Exited. Sold down and rebounded so exited. Did not want to take the chance stock would shoot up.
OEX 09/22 Put 534.21 -2.63 535.33 522 1.2M 1.3M 537.88
Entered today.
PMCS 09/15 Put 9.65 +0.25 9.32 8.05 7.6M 6.5M 9.57
Exited.
RHAT 09/15 Put 12.55 -0.33 14.92 13.38 7.8M 7M 15.32
Buy Not Issued. Continue to move down the 10 day MVA on rising volume. the stock never had the volume we needed to enter the play. Will drop for now.
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 recommendation
stock market report
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