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trade stock, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers Tuesday: AHC; CREE; EBAY; LLL; STJ; SYMC; WYNN; BWA; ERES
Monday night play results:
OPTV: Gapped higher on volume, but went nowhere after gapping higher.
CENT: Rebounding back toward the 50 day SMA to test after the big dump lower.
KCP: Bounced up to test the 18 day EMA.
WMGI: Showing a doji below the 10 day EMA.
New Plays:
Upside:
Play Date: 09/28/2004
BYD (Boyd Gaming--$28.04; +1.08; optionable): Resorts and casinos
http://biz.yahoo.com/p/b/byd.html
STATUS: Test breakout. Taking another look at this one. Volume surged Tuesday as BYD jumped off the 50 day EMA (26.58). Nice 12 week base sporting outstanding 5 to 0 accumulation, showing nothing but buying as it worked laterally over the 50 day in the pattern. Solid money flow and a relative strength breakout as well. Looks solid after this test.
Volume: 573.7K Avg Volume: 380.341K
BUY POINT: $28.22 Volume=400K Target=$33.38 Stop=$27.28
POSITION: BYD CE - Mar. $25c (81 delta) &/or Stock
http://www.investmenthouse.com/ci/byd.html
Play Date: 09/28/2004
ESMC (Escalon Medical--$13.37; +1.41; no options): Medical appliances
http://biz.yahoo.com/p/e/esmc.html
After Hours: $13.72
STATUS: Test 200 day SMA. ESMC is working on a 6 month cup base, rallying the past 6 weeks, stair stepping higher as it starts the right side of the pattern. It has just come back to test the 200 day SMA (12.43) after making the breakout over this level two weeks back on strong trade. Money flow is surging higher ahead of the stock, and we are looking for the stock to follow the money higher.
Volume: 857.46K Avg Volume: 514.681K
BUY POINT: $13.68 Volume=900K Target=$18 Stop=$12.98
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/esmc.html
Play Date: 09/28/2004
OS (Oregon Steel Mills--$16.81; +1.12; optionable): Steel and iron
http://biz.yahoo.com/p/o/os.html
STATUS: Breakout test. OS blasted out of a 9 week flat base early this month on strong trade. It spent the next two weeks testing the breakout, holding over the 18 day EMA (15.83) as it moved in a flat range. Volume backed off until Tuesday when it jumped as OS jumped off the 18 day. Positive accumulation in the base and surging money flow as well. Relative strength is breaking out as well, a good corroboration of the breakout move. Looks ready to make some headway.
Volume: 724.6K Avg Volume: 382.125K
BUY POINT: $16.97 Volume=385K Target=$19.95 Stop=$15.78
POSITION: OS CC - Mar. $15c (70 delta) &/or Stock
http://www.investmenthouse.com/ci/os.html
Downside:
Play Date: 09/28/2004
CCRN (Cross Country--$15.03; -0.13; optionable): Staffing and outsourcing
http://biz.yahoo.com/p/c/ccrn.html
STATUS: Put. Cratered through the 200 day SMA (16.59) in July and rallied back with the market up to last week. Made it to 16 but then stalled. The past two sessions CCRN tanked below the 50 day EMA (15.52). Looks ready to continue the fade toward the August low below 14.
Volume: 64.137K Avg Volume: 100.371K
BUY POINT: $14.88 Volume=120K Target=$13.75 Stop=$15.05
POSITION: QCK WC - Nov. $20p (-68 delta)
http://www.investmenthouse.com/ci/ccrn.html
Play Date: 09/28/2004
HOLX (Hologic--$18.94; +0.9; optionable): Medical appliances
http://biz.yahoo.com/p/h/holx.html
After Hours: $18.92
STATUS: Put. HOLX tanked through the 200 day SMA (19.81) in August and then moved up along that resistance level through last week, unable to really punch through with any conviction. Its failure to do so led to the selling last week that dropped it hard. Another hard drop Monday on strong volume took it to the August low where it rebounded on much lower trade Tuesday. Looking for it to rebound a bit more toward 19.25. When it fails and rolls over there we will be ready to move in.
Volume: 104.962K Avg Volume: 115.841K
BUY POINT: $18.88 Volume=125K Target=$17.15 Stop=$19.45
POSITION: QHX WD - Nov. $20p (-68 delta)
http://www.investmenthouse.com/ci/holx.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
stock recommendation
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