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stock ticker, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers Monday: LSS; AAI; AFL; ALTR; AMR; BWA; CANI; ERES
Weekend play results:
GW: Took a day off on lower volume, right at the breakout point.
NVTL: Tried to make the move but fell back on the close. Still in the pattern.
AFL: Starting down again on rising trade.
ALTR: Gapped lower, made an intraday test of the 50 day EMA and then fell back down.
New plays for Tuesday:
Upside:
Play Date: 09/27/2004
GRA (W.R. Grace & Co.--$9.53; +0.47; optionable): Specialty chemicals
http://biz.yahoo.com/p/g/gra.html
STATUS: Flying plateau. GRA made us some excellent money in August and early September as it broke from a nice 8 week base. It rallied up to 9 and has moved laterally for three weeks. It threw off a big volume spike two weeks back, then volume dried up as it moved laterally over the 18 day EMA (8.61). Monday volume jumped well above average as GRA started the breakout run once more. Looking to move in on a further gain to make some more money.
Volume: 1.636M Avg Volume: 995K
BUY POINT: $9.62 Volume=1.5M Target=$11.45 Stop=$9.15
POSITION: GRA LB - Dec. $10c (52 delta) &/or Stock
http://www.investmenthouse.com/cd/gra.html
Play Date: 09/27/2004
OII (Oceaneering Intl.--$36.35; +0.75; optionable): Oil and gas drilling & exploration
http://biz.yahoo.com/p/o/oii.html
STATUS: Breakout. Volume was up Monday as OII made the breakout move from a 7 month base. The base used the 200 day SMA (31.46) as support for both legs, and that shows institutional support for the stock at that key level. Solid 7 to 5 accumulation in the base (7 up price weeks on rising volume to 5 down price weeks on rising volume) has set up the breakout. Relative strength broke out as well, a good corroboration of the price move. Looking to start a position on a further move and then add to it on a test.
Volume: 304.3K Avg Volume: 167.409K
BUY POINT: $36.48 Volume=251K Target=$41.55 Stop=$35.97
POSITION: OII AG - Jan. $35c (65 delta) &/or Stock
http://www.investmenthouse.com/cd/oii.html
Downside:
Play Date: 09/27/2004
PTEK (PTEK Holdings--$8.58; -0.31; optionable): Telecom
http://biz.yahoo.com/p/p/ptek.html
STATUS: Put. PTEK gapped lower in early September, falling to 7. It has since rallied and filled the tap, tapping at the 50 day EMA (9.37) last week on an intraday high. It has faltered and fallen back to the 10 and 18 day EMA (8.49). Money flow is very weak and the stock is under distribution. Looking for a move through the 10 and 18 day EMA on stronger volume to start downside positions. Looking for a 42%ish gain.
Volume: 456.566K Avg Volume: 810.772K
BUY POINT: $8.44 Volume=825K Target=$7.38 Stop=$8.65
POSITION: QTE WB - Nov. $10p (-75 delta)
http://www.investmenthouse.com/cd/ptek.html
Play Date: 09/27/2004
WMGI (Wright Medical--$25.33; -0.94; optionable): Medical appliances
http://biz.yahoo.com/p/w/wmgi.html
After Hours: $25.42
STATUS: Put. WMGI has filled the gap from its nasty drop a week back, rallying back up to the 18 day EMA (26.36). It found resistance at that level and rolled over Monday on siring, average volume. Money flow is lousy and the stock remains under heavy distribution. Looking to enter on a further drop down to the August lows for a 42%ish gain.
Volume: 531.376K Avg Volume: 428.909K
BUY POINT: $25.22 Volume=525K Target=$23.68 Stop=$25.55
POSITION: QWM WE - Nov. $25p (-42 delta)
http://www.investmenthouse.com/cd/wmgi.html
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
GMAI: Massive gap lower. Look for a test toward the 200 day SMA at 13 to exit if you own it.
QCOM: Trying to hold over the 50 day EMA. At least it is not breaking through the 50 day.
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:
PARL: Excellent breakout from its 7 week base, surging the past two sessions on very strong, above average volume. Surging money flow to boot. Nice quiet action before the breakout move. After moving $2 in 2 sessions (20%), a good entry point would be on the test.
ASVI: Moving in a 9 month base, forming a short 7 week base the past 8 weeks. After trying to break past the August high last week, it has come back to tap the 50 day EMA on the Monday low, rebounding to hold the 18 day EMA on the close. Decent pattern.
Downside:
CMLS: In a continuing downtrend. Its last test higher took it to the 50 day EMA, and it is now test the 18 day EMA, ready to continue the downtrend. Tapped the 18 day EMA on the Friday high and faded, then rolled lower Monday.
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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stock ticker
stock recommendation
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